Blueberries Medical Corp. (CSE: BBM) (OTC: BBRRF) (FRA: 1OA) (the
“
Company” or "
Blueberries"), a
leading Latin American licensed producer of medicinal cannabis and
cannabis-derived products, is pleased to announce that the Company
has partnered with the Van Uden International Center for
Alternative Medicine (“
Van Uden”) and the Juan N.
Corpas University Foundation (the
“Foundation”)
, two renowned
Colombian organizations in the health and academic fields. The
partnerships will facilitate the distribution of Blueberries’
products to a patient network of over 12,000 and bridge the gap
between research and clinical practice by educating physicians on
the applications and benefits of medicinal cannabis treatments.
Van Uden is one of the largest alternative
medicine practices in Colombia, with a growing patient network of
over 12,000. The Company’s partnership with Van Uden will allow for
the commercial distribution of Blueberries products and magistral
formulations through this established patient network. Magistral
formulations are formulations with custom-designed concentrations
and properties, prescribed to patients by physicians for the
treatment of specific medication conditions.
The partnerships with Van Uden and the
Foundation will give Blueberries access to distinguished
scientists, educators, and clinicians to continue research and
development efforts. Members of both organizations will benefit
from a series of educational workshops on the safe and effective
use of medical cannabis and its derivatives.
“We are proud to team up with two prominent
organizations and share our extensive knowledge and expertise on
medicinal cannabis. Their teams will provide valuable guidance and
strategic opportunities for us to extend our reach within Colombia
and beyond,” stated Patricio Stocker, Chief Executive Officer. “As
medicinal cannabis continues to gain traction, it is important that
we ensure that physicians have the tools they need in order to
prescribe suitable treatment plans and give patients the expert
care they deserve. We are focused on positioning our brand as a
reliable and respected name in the medical community and a leader
in the field of medicinal cannabis.”
About Van Uden International Center for
Alternative MedicineThe Van Uden International Center for
Alternative Medicine is a health services provider that focuses on
Alternative, Natural, Bioregulatory, and Integrative Medicine, in
conjunction with therapeutic procedures and scientific research.
Over 16 years, they have provided Colonic therapy, Iridology,
holistic Aesthetics, Microblading, and therapeutic and chiropractic
massage to their patients. Thanks to the knowledge and research of
their professionals, they have developed treatments and therapies
to treat each person as a unique Being and thus offer positive
solutions to each symptom and disease. For more information please
visit www.vanudenips.com.
About Juan N. Corpas University
Foundation (FUJNC)The Juan N. Corpas University Foundation
(FUJNC) is a private, non-profit academic institution recognized by
the Colombian government. They provide educational training and
programs to professionals in the fields of health, education, and
the arts who are seeking an Undergraduate, Specialization and/or
Master’s degree. They place a strong emphasis on high-quality
scientific research, social responsibility, and the environment. In
the future, the institution hopes to expand its programs to offer
them to doctoral and postdoctoral candidates. For more information
please visit www.juanncorpas.edu.co.
Non-Brokered Private
PlacementBlueberries has also closed the second tranche of
its over-subscribed, non-brokered private placement (the
“Offering”) of 685,059 units (the “Units”) at a price of C$0.25 per
Unit for total gross proceeds of approximately C$171,265, bringing
the total gross proceeds from the Offering to approximately C$3.63
million. Each Unit consists of one common share in the capital of
the Company (a “Share”) and one Share purchase warrant (a
“Warrant”). Each Warrant entitles the holder to acquire one Share
at a price of C$0.35 until October 31, 2021. A 6% cash finder’s fee
was paid together with the issuance of finder warrants (the “Finder
Warrants”) equal to 6% of the Shares placed by eligible finders.
Each Finder Warrant entitles the holder to acquire one Share for
$0.35 until October 31, 2021. The net proceeds of the Offering will
be used to further expand the Company’s Colombian cultivation and
extraction facilities as well as for working capital and general
corporate purposes.
In addition, certain directors of the Company
(the “Insiders”) acquired an aggregate of 40,000 Units and 33,903
Finder Warrants pursuant to the Offering. Participation by the
Insiders in the Offering was considered a “related party
transaction” pursuant to Multilateral Instrument 61-101 –
Protection of Minority Security Holders in Special Transactions
("MI 61-101"). The Company was exempt from the
requirements to obtain a formal valuation or minority shareholder
approval in connection with the Insiders’ participation in the
Offering in reliance of sections 5.5(a) and 5.7(1)(a) of MI 61-101.
A material change report was filed in connection with the
participation of Insiders in the Offering less than 21 days in
advance of the closing of the Offering, which the Company deemed
reasonable in the circumstances so as to be able to avail itself of
potential financing opportunities and complete the Offering in an
expeditious manner.
About Blueberries Medical
Corp.Blueberries Medical is a Latin American licensed
producer of naturally grown premium quality cannabis with its
primary operations ideally located in the Bogotá Savannah of
central Colombia and operations currently being established in
Argentina. The Company is led by a specialized team with
proprietary expertise in agriculture, genetics, extraction,
medicine, pharmacology and marketing, Blueberries is fully licensed
for the cultivation, production, domestic distribution, and
international export of CBD and THC-based medical cannabis in
Colombia. Blueberries’ combination of leading scientific expertise,
agricultural advantages and distribution arrangements has
positioned the Company to become a leading international supplier
of naturally grown, processed, and standardized medicinal-grade
cannabis oil extracts and related products.
Additional information about the Company is
available at www.blueberriesmed.com. For more information, please
contact:
Camilo Villalba, Chief Operating Officer
cvillalba@blueberriesmed.comTel: +57.313.483.0131
Jessika Angarita, Pacta Relations
angarita@pactarelations.com Tel: +1 (305) 877 4710
Cautionary Note Regarding
Forward-Looking InformationThis news release contains
"forward-looking information" and "forward-looking statements"
(collectively, "forward looking statements") within the meaning of
the applicable Canadian securities legislation. All statements,
other than statements historical fact, are forward-looking
statements and are based on expectations, estimates and projections
as at the date of this news release. Any statement that involves
discussions with respect to predictions, expectations, beliefs,
plans, projections, objectives, assumptions, future events or
performance (often but not always using phrases such as “expects”,
or “does not expect”, “is expected”, “anticipates” or “does not
anticipate”, “plans”, “budget”, “scheduled”, “forecasts”,
“estimates”, “believes” or “intends” or variations of such words
and phrases or stating that certain actions, events or results
“may” or “could”, “would”, “might” or “will” be taken to occur or
be achieved) are not statements of historical fact and may be
forward-looking statements. In this news release, forward looking
statements relate, among other things, to: closing of the proposed
transactions and achieving milestones as contemplated, or at all,
ability to expand distribution networks, ability to expand and
upgrade the Company’s cultivation facilities in Colombia, internal
expectations, expectations regarding the ability of the Company to
access new Latin American and international markets, the ability to
attract and retain new customers, and future expansion plans
including development of the cultivation, production,
industrialization and marketing of cannabis for commercial and
scientific purposes.
These forward-looking statements are based on
reasonable assumptions and estimates of management of the Company
at the time such statements were made. Actual future results may
differ materially as forward-looking statements involve known and
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of the Company to
materially differ from any future results, performance or
achievements expressed or implied by such forward-looking
statements. Such factors, among other things, include: fluctuations
in general macroeconomic conditions; fluctuations in securities
markets; expectations regarding the size of the Colombian and
international medical cannabis market and changing consumer habits;
the ability of the Company to successfully achieve its business
objectives; plans for expansion; political and social
uncertainties; inability to obtain adequate insurance to cover
risks and hazards; and the presence of laws and regulations that
may impose restrictions on cultivation, production, distribution
and sale of cannabis and cannabis related products in Colombia,
Argentina and elsewhere; and employee relations. Although the
forward-looking statements contained in this news release are based
upon what management of the Company believes, or believed at the
time, to be reasonable assumptions, the Company cannot assure
shareholders that actual results will be consistent with such
forward-looking statements, as there may be other factors that
cause results not to be as anticipated, estimated or intended.
Readers should not place undue reliance on the forward-looking
statements and information contained in this news release. The
Company assumes no obligation to update the forward-looking
statements of beliefs, opinions, projections, or other factors,
should they change, except as required by law.
Additional information regarding the Company,
and other risks and uncertainties relating to the Company's
business are contained under the heading "Risk Factors" in the
Company's Listing Statement dated January 31, 2019 filed on its
issuer profile on SEDAR at www.sedar.com.
No stock exchange, securities commission or
other regulatory authority has approved or disapproved the
information contained herein.
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