CanadaBis Capital Inc. (TSXV:CANB) (“CanadaBis” or “the Company”) CanadaBis Capital Inc. (“CanadaBis” or “the Company”) is pleased to announce it has entered into an agreement to acquire 95% of the outstanding shares of Goldstream Cannabis Inc. (“Goldstream”) located in British Columbia. Goldstream holds the right to use 13 acres of land, through an existing lease agreement, with the potential to access up to an additional 300 acres and is zoned for the outdoor cultivation of cannabis. Malahat First Nations currently holds a 5% interest in Goldstream and has indicated their intention to maintain this interest after the transaction.
Under the terms of the agreement CanadaBis will acquire ownership of 95% of Goldstream by issuing 11,666,666 common shares of CanadaBis priced at $0.30 per share, subject to regulatory approval. The shares issued are subject to certain share sale restrictions over 24 months. The acquisition of the 95% interest is valued at $3,500,000, which includes the existing lease, $2 million in cash and no outstanding liabilities.
Goldstream’s property is properly zoned for cannabis cultivation and is strategically located in a hospitable environment that contains a high level of organic matter in the soil, making it uniquely ideal for outdoor cannabis growth.
The acquisition of Goldstream Cannabis is a huge win for our company as it allows CanadaBis to continue to expand our business offerings by drastically increasing our production abilities,” said President & CEO, Travis McIntyre. “As a company that is focused on long-term success, this agreement positions us to acquire the type of high-yield, low-cost product volume we will need to support our ambitious goals for the future.”
Stigma Grow currently operates 22,000 sq/ft of production space and plans to expand this area to 66,000 sq/ft later this year. The Company received a standard cultivation and processing license from Health Canada on March 8, 2019 and has recently harvested its second crop. Stigma is currently working on developing and promoting a strong Alberta brand focused on catering to high-quality experiences. Proudly offering a craft product with optimal cannabinoid profiles, Stigma is the first Health Canada-licensed producer operating in the Red Deer area.
For more information on CanadaBis Capital, 1998643 (Stigma Grow), or INDICAtive Collection (the Company’s retail brand) please visit www.canadabis.com or contact:
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to our business and operations including development and expansion plans, intention to develop property in British Columbia; increasing our product lines to include CBD distillates; and our general business plans. Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: compliance with extensive government regulation, the general business, economic, competitive, political and social uncertainties; successful negotiation of necessary agreements to get our product to market; requirement for further capital, delay or failure to receive board, shareholder or regulatory approvals; the results of operations and such other matters as set out in the Filing Statement available on SEDAR at www.sedar.com. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on forward-looking statements. Investors are cautioned that forward-looking information is not based on historical facts but instead reflects management’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although we believe that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have a material adverse effect on our future results, performance or achievements.
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. CanadaBis Capital does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
American cannabis sales hit US$17.5 billion in 2020, a research group’s new study shows.
Meanwhile, a Canadian cannabis producer began offering CBD beverages in the US, another move that shows how interested Canadians are in the overall US cannabis market at the moment.
Some pretty important news out of health and wellness; beverage and natural products company BevCanna Enterprises Inc. (CSE:BEV, Q:BVNNF, FSE:7BC) this week. For those of you following the Company with us, stay tuned.
As investors continue to prioritize cannabis opportunities in the US, market watchers expect mergers and acquisitions (M&A) to play a role in the future for Canadian companies.
A consolidation trend has been expected in the Canadian cannabis space for some time now based on the size of the market compared to the number of operations in the country.
BioHarvest Sciences Inc. Unveils the Unique Polyphenolic Content of Its Upcoming Olive-Based Nutraceutical
The product will include polyphenols known to have significant health benefits.
BioHarvest Sciences Inc. (CSE: BHSC) (“BioHarvest” or the “Company”) has reached an important milestone in its development program of additional Nutraceuticals. The olive-based Nutraceutical product scheduled for market availability in the second half of 2022 will contain the following unique matrix of polyphenols: hydroxytyrosol, trosol, and verbascoside. These compounds are the major polyphenols in naturally grown olives and are responsible for the high antioxidant activity of olives and olive oil. Importantly, the BioHarvest olive-based Nutraceutical product will provide all the benefits of olives and olive oil with a low calorie count per serving.
Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco” or the “Company”), one of the largest vertically integrated multistate cannabis operators in the United States, announced today that it will report financial results for the fourth quarter and full year ended December 31 st , 2020 on Thursday March 25 th , 2021 before the market opens.
The Company will host a conference call and webcast to discuss its financial results and provide investors with key business highlights on Thursday March 25 th , 2021 at 8:30am Eastern Time (7:30am Central Time).