CanadaBis Capital Inc. (TSXV:CANB.P) (“CanadaBis” or the “Company”) is proud to announce that its solely owned subsidiary Stigma Grow (“Stigma”) has completed harvest number one under the Health Canada Cultivation License. Stigma’s first crop produced an ultra-premium, quality crop with great terpene profiles. This crop will be used as test crop “one” of the two required for their sales application process. Stigma is midway through cultivation of the second crop using another of its proven genetics and anticipates harvest to be completed by early July, 2019. The remaining quantity of cannabis that was not used for testing will be packaged in accordance with the requirements and tagged for sale once the license restrictions have been lifted.
“We were extremely pleased to generate such high yields and quality production in our new facility. Many factors went into such a successful harvest and we could not be prouder of the outstanding work our staff and cultivators have put into the development and progression of our product,” stated Travis McIntyre, President and CEO of CanadaBis. “We feel that this allowed the business to exceed the target for the first production run and is a major step for CanadaBis’s future success.”
Stigma has the benefit of over three years of independent genetic research on 42 proprietary strains making the Company perfectly positioned to supply Albertans with a portfolio of uniquely developed craft cannabis products that offer potency, consistency and high-quality experience.
CanadaBis Capital Inc. is an Alberta-based cannabis company that, through its wholly owned subsidiary Stigma, produces high-quality products for the Alberta marketplace. The Company exhibits the highest standards in quality control, optimal yields and wide-ranging cannabinoid profiles. The newly constructed (Phase one) 22,000 square foot growth facility in Red Deer County is licensed by Health Canada to cultivate and process cannabis, with further expansion to 66,000 planned in 2019/2020. CanadaBis anticipates being in position to expand business, increase cultivation facilities, add retail locations, further develop into extractions and processing in preparation of the upcoming legalization of edibles, and continue to be a vertically integrated cannabis company offering a keystone portfolio in Western Canada.
For more information please 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 and the timing thereof. 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 the 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; 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 material adverse effects 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 we have 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. We do not intend, and do 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.