CEO’s Message to the Shareholders
Firstly, I would like to wish our entire global community of partners, customers, dedicated staff, and shareholders a healthy and prosperous 2021. This past year has been a challenging one for so many of us, on so many levels, and the team at BioHarvest is very appreciative of our community’s support throughout.
As 2020 comes to a close, I am proud to say that this year was truly transformative for the Company. The merger of Canna-V-Cell and BioHarvest Ltd into one entity (BioHarvest Sciences Inc), was our first major milestone of 2020 and established a strong foundation for growth. After personally investing in BioHarvest in December 2019, I joined BioHarvest as CEO in June 2020. My priority was to develop a growth strategy that would leverage the power of our valuable BioFarming technology. I believe that this disruptive technology, which is the result of many years of research and development, will form the critical foundation from which we can generate shareholder value by successfully developing and commercializing a family of products to service a growing global market.
We are now six months into that growth strategy, and I can honestly say that this process has been the most professionally rewarding period of my career. It started with the amazing team in place, which includes the stewardship of our Chairman, Zaki Rakib, and our inspirational Research and Development team, led by Dr. Yochi Hagay. This group continues to work tirelessly on pioneering new science-based products with the goal of fundamentally impacting the health and wellness of our target consumers. To strengthen the team, we have recruited world class talent in areas such as marketing, manufacturing, planning and supply chain management. We have also assembled a team of global industry experts as advisory board members and consultants who will be an invaluable brain trust to support our aggressive goals. People are the foundation of any business and I feel very privileged to be surrounded by a carefully selected “Dream Team” at BioHarvest to ensure we have what it takes to execute our aggressive growth plan.
In 2020 we established several key building blocks that will support this growth plan. Our contract with Sugart Israel to construct a 20 Tonne production facility will increase our VINIA® supply by a multiplier of at least 10X. The exclusive performance-based partnership with Batory Foods gives VINIA® access to their 4500+ corporate customer base and has already resulted in the Company’s first B2B VINIA® sale in December, a 60kg order, from “Designs For Health”. The November VINIA® E-Commerce launch in Israel exceeded expectations and continues to gain significant momentum and provides a critical springboard for our U.S. VINIA® E-Commerce launch scheduled for April 2021.
These milestones give us strong market momentum as we move into 2021. Further, we are at the nexus of several powerful trends: More than ever before, consumers are looking for effective health and wellness products. Investors realize that we are part of the growing plant-based nutrition phenomenon with the ability to deliver unique health and wellness benefits. Our BioFarming technology stands out as being disruptive because of its broad science-based applications, its ability to deliver on sustainability and on non-GMO ingredients demanded by industry and consumers.
The upcoming year will be about executing on several major projects. For our B2C vertical, we have US leadership in place to establish the distribution and marketing channels to support an aggressive E-Commerce VINIA® launch in Q2.
As our global expansion relies on enhancing our product supply, completing our 20-tonne production facility in Q3 is a top priority for the Company. We also expect to make major progress on both our cannabis and Superfruit Nutraceuticals product roadmaps. With our B2B partnerships already in place, investors can also expect to see VINIA® being added to additional premium health and wellness products.
As we move through these milestones, and as revenues and the size of our team grows, I will continue to be available to investors and engage in the open and transparent dialogues which I have found very valuable.
I am excited to enter into 2021 with the hope that we can have a positive effect on our consumer base by delivering a product roadmap which enhances Human Utility Value. With this focus, I am confident that we will continue to grow Shareholder Value.
Ilan Sobel, CEO of BioHarvest Sciences Inc.
About BioHarvest Sciences Inc.
Based in Vancouver BC, BioHarvest Sciences Inc. is the developer and exclusive owner of the proprietary and patent protected BioFarming technology. It is the first and only industrial-scale plant cell technology capable of producing the active plant ingredients without the necessity to grow the plant itself. The Company’s technology is non-GMO and has already been validated by VINIA®, the red grapes cells functional food/dietary supplement produced and sold by BioHarvest Sciences Inc. The Company plans to generate significant revenue within the global nutraceutical ingredients and dietary supplements market with VINIA® and other Super Fruit Nutraceutical products. Further, by adapting this technology to the Cannabis plant, and building adequate production capacity, BioHarvest Sciences Inc.‘s objective is to become a leading supplier of Cannabis for both medicinal and legal recreational purposes. Visit: www.bioharvest.com.
For further information, please contact:
Dave Ryan, VP Investor Relations & Director
Phone: 1 (604) 622-1186
The forgoing includes forward looking statements based on estimates of Company management. Forward looking statements are uncertain by their nature and are subject to risks. Such statements are not a guarantee or assurance of results. In particular: there is no assurance that the Company’s products will be successfully commercialized across global markets as global acceptance of products depends on consumer tastes and trends which are subject to unpredictable changes; product acceptance is also subject to limitations of available marketing funds, commercial advertising space and advertising costs all of which are subject to change; there is no assurance the Company’s production facility will be completed by the time anticipated or have anticipated capacity, factory construction is subject to costs overruns, inspections and other construction delays which cannot be predicted with certainty; there is no assurance that Vinia® will be added to additional premium and wellness products which is subject to acceptance by product manufacturers and their customers preferences; the timetable of development announcements on new Superfruit Nutraceuticals and Cannabis products is uncertain and depends on factors such as availability of time of scientific staff and facilities and results of testing all of which is subject to uncertainty; manufacture ,sale and export of Cannabis products is subject to obtaining government licenses which is an uncertain process and cannot be guaranteed.
Readers are cautioned not to place too much reliance on forward looking statements. The Company does not undertake to update such statements except to the extent they are updated in the Company’s ongoing regulatory filings.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accept responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/71214
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