TORONTO, Nov. 12, 2018 /CNW/ - Beleave Inc. (CSE: BE) (OTCQX: BLEVF) ("Beleave" or the "Company") is pleased to announce that it has secured genetics acquisition agreements for a broad range of cannabis seed varieties from diverse lineages.
There will be a total of 90 new varieties introduced in the coming year that have been selected to cover the entire spectrum of low, intermediate, and high THC and CBD profiles. The list includes well-known classic Sativa and Indica varieties with applications for both medical and adult recreational markets. Also included in the selection are a number of novel strains, not previously available in the Canadian market, which have been bred for select terpene profiles to offer distinct custom flavours and aromas.
Last week, Health Canada notified the Company that their existing license under the ACMPR had been updated for the new system reflecting the changes under the Cannabis Act.
In the coming months, Beleave will be completing construction and upgrades on new facilities in Ontario and British Columbia. Once completed, they will greatly increase the Company's production capacity allowing Beleave to help supply the demands of Canada's growing cannabis market.
"We are very happy with the new varieties being introduced and the potential they have for Beleave's future. Our master grower has been working tirelessly to select and secure these strains," said Beleave CEO, Andrew Wnek. "Our whole team has been working aggressively to bring us to this point. Whether it's our increasing production capacity, expanded global distribution, or these new cannabis varieties; Beleave is ready."
ABOUT BELEAVE INC.
Beleave is a vertically-integrated Canadian cannabis company headquartered in Oakville, Ontario, that operates streamlined facilities throughout Canada to cultivate high-quality cannabis flower, oil, and extracts with funded capacity in excess of 150,000 kg per year.
Fully-licensed 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 is currently developing new product lines for October 2019 as the recreational market is expected to allow for food and beverage-based cannabis products.
Beleave is growing its storefront and online sales presence rapidly through its wholly-owned subsidiaries, Beleave Kannabis Corp. and Seven Oaks, which are licensed for medicinal and recreational sales respectively. The company's first retail location is opening this fall in Lloydminster, Saskatchewan. 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 has access to 27 hectares of outdoor grow space and is fully licensed to cultivate, produce, extract and distribute medical cannabis in Colombia to capitalize on exports and the expanding Latin American market.
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 speak 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.