TORONTO, Jan. 16, 2019 /CNW/ - Beleave Inc. (CSE: BE) (OTCQX: BLEVF) ("Beleave" or the "Company") announces that Bill Panagiotakopoulos, current COO at Beleave, has been appointed by the Board of Directors to act as the Executive Chairman to further strengthen Beleave's governance and oversight controls.
As one of the Company's founding members in 2011, Bill was an early mover in Canada's cannabis sector. Since then, Bill has been significantly involved in the successful navigation of the regulatory framework to obtain cannabis production and sales licenses. As a lifelong entrepreneur, Bill has an extensive background in fundraising, investor relations, and regulatory affairs.
"We founded Beleave seven years ago because we wanted to be part of a company where we believed the possibilities were limitless in an industry that was ready for innovation. Looking back, I am confident we made the right decision," said Mr. Panagiotakopoulos. "The opportunities that lie ahead are enormous. I look forward to leading our company in a new direction that emphasizes our strengths, while maintaining our founding principles. At a time when our industry is on the verge of more disruption and growth than we've ever encountered, I couldn't be more certain in our ability to succeed, or more committed to take on this challenge."
Beleave is also providing updates on recent developments, which include:
SALES LICENCE FOR CANNABIS OILS
Beleave's wholly-owned subsidiary, Beleave Kannabis Corp., has been authorized by Health Canada to sell cannabis oil products effective January 11, 2019. After reviewing the application and supporting documentation, Health Canada granted an amended licence with modified conditions allowing for the sale of cannabis oil under the Cannabis Regulations.
GMP CERTIFICATION PROCESS
Beleave provided an update on the Company's GMP certification process with an announcement that Global Compliance, Inc. has inspected and assessed the Company's processes for the production of cannabis and determined that the Company's Hamilton facility meets all requirements for certification. Beleave is seeking GMP certification to facilitate the exportation of medical cannabis to its German partner, Canymed GmbH, and expects to be audited by the German GMP certification authority in early 2019.
Beleave's wholly owned subsidiary Medi-Green completed construction and passed municipal inspections in London, Ontario paving the way for the store to open and serve clients in January 2019.
Procannmed SAS, of which Beleave is a majority shareholder, holds three cannabis licenses in Colombia and continues to make progress in the planning and execution of its business plan to grow and process cannabis, including the completion of an experimental greenhouse to be used for plant propagation and other activities.
ABOUT BELEAVE INC.
Beleave is a vertically-integrated Canadian cannabis company headquartered in Oakville, Ontario, that cultivates high-quality cannabis flower, oil and extracts.
Fully-licenced to cultivate and sell medical and recreational cannabis, Beleave is leading the way through research partnerships with universities to bridge the gap between science and tradition and to develop pharma-grade extracts and derivatives. Beleave has developed new product lines, including cannabis- infused powder and sugar products for 2019 as the recreational market is expected to allow for food and beverage-based cannabis products.
Beleave has also developed a network of medical cannabis clinics in Ontario and Quebec under the Medi- Green banner. Through its majority ownership of Procannmed S.A.S., Beleave is fully licensed to cultivate, produce, extract and distribute medical cannabis in Colombia to capitalize on exports and the expanding Latin American market. In a strategic initiative to penetrate the European medical market, the Company has partnered with Canymed GmbH to supply the German market with medical cannabis.
This news release contains "forward-looking information" within the meaning of applicable securities law ("forward-looking statements"). The use of any of the words "plan", "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and other similar words, or statements that certain events or conditions "may" or "will" occur are intended to identify forward-looking information. These statements are only predictions. Although the Company believes that the expectations and assumptions on which the forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Since forward-looking information addresses future events and conditions, by its very nature it involves inherent risks and uncertainties. This information speaks only as of the date of this news release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents, which can be found under the Company's profile on www.sedar.com.
SOURCE Beleave Inc.
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