RED DEER, AB, March 10, 2020 /CNW/ - CanadaBis Capital Inc.
(TSX-V: CANB) ("CanadaBis" or "the Company") a holder of a federal
licence to cultivate and process under the Cannabis Act, is pleased
to announce that on March
6th, 2020, its subsidiary 1998643 AB LTD.
("Stigma Grow") secured its licence from Health Canada to sell
cannabis cultivated at its 66,000 square foot cultivation facility
in Red Deer, Alberta.
Securing their sales licence for dry flower represents a huge
milestone along the way to achieving their vision as a
well-positioned, multi-pillared cannabis company, and will act as
the cornerstone for several brands within the CanadaBis' family of
brands as they continue to grow in multiple areas; keenly seeking
out new partnerships and opportunities to provide value to their
industry and stakeholders.
"We are thrilled to secure approval to begin selling our
high-quality cannabis," said Travis
McIntyre, CEO of CanadaBis Capital Inc. "We are now
perfectly positioned to grow and sell dry flower that will be among
the highest potency available today, which is important when you
consider what's lacking in the current market and what's needed to
ensure the future of legal cannabis remains bright" said President
& CEO, Travis McIntyre.
The Company anticipates a shift in consumer behaviour from a
focus on dry flower to a focus on concentrates in 2020 and beyond.
To prepare for this demand, the Company has spent six months
perfecting their systems and constructing a CIDI Lab to house
hydrocarbon extraction processing — positioning them to bring
difficult-to-produce products to market on a mass scale.
"We're just getting started! Stigma Grow intends to leverage our
own top-quality flower, state-of-the-art technology, and the
insight provided by our skilled and experienced staff, to target
consumers and partner LPs looking for high-quality, 'bud-run'
extract product variations", explains Travis. "Our vision as a
company has always been to provide our community with what is
in-demand, and all signs point to the need for consistent,
high-potency concentrates."
While the Company awaits the final stages of their revised sales
licence to include concentrates – they are actively stockpiling
products to meet demands that will likely surpass supply for many
years.
About Stigma Grow's Red Deer Cultivation and Processing
Facility
Cultivation
Although the Company sees a shift in focus from flower to
concentrates, they have not lost sight of the need to provide
high-quality craft cannabis, and recognize the synergistic
connection.
As with any Premium Product, the best inputs generate the best
outputs. The combination of the two sets the stage for our
long-term plans as a craft-cannabis cultivator recognized for
high-quality in everything we produce. This ongoing commitment to
both sides of the cannabis market will allow us to control the
quality of our products, and always ensure an optimized
offering.
Stigma Grow currently operates 22,000 sq/ft of production space
and is in the midst of their Phase 2 expansion which will increase
this area to 66,000 sq/ft by mid-2020. Proudly offering
craft-quality products with optimal cannabinoid profiles, Stigma
Grow was the first Health Canada-licenced producer operating in the
Red Deer area.
Processing
In addition to representing products that are in high demand,
Stigma concentrate products will be some of the first available in
the Canadian legal market.
Stigma's concentrates promise an extremely clean, consistent and
pure form of cannabis product, and Stigma's third-party processing
abilities have already captured the interest of several LPs looking
for service providers capable of facilitating the expansion of
their own lines of products.
At present, Stigma has signed agreements with several reputable
LPs to conduct concentrate manufacturing on their behalf, and
currently hold POs for provincial channels scheduled for a
second-quarter delivery of high-quality, terpene-rich, badder, live
res badder and live res caviar.
The Company is currently in talks for multiple synergistic
partnerships, and expects to make another announcement in the
coming weeks.
For more information, access the Company's investor presentation
and recently updated strategic direction at their website:
CanadaBis.com
About CanadaBis Capital Inc.
CanadaBis Capital Inc. (TSXV: CANB) is a vertically integrated
Canadian cannabis company focused on achieving large-scale growth
in the fast-emerging global cannabis market. By targeting organic
growth opportunities alongside the right-fit partners, we remain
focused on finding and capitalizing on chances to grow, diversify
and continue to lead our industry.
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.
SOURCE CanadaBis Capital Inc.