TORONTO, Oct. 17, 2018 /CNW/ - Beleave Inc. (CSE: BE) (OTCQX: BLEVF) ("Beleave" or the "Company") would like to recognize the steadfastness, bravery, and leadership of the Canadian government, as well as other pioneers in the community who have worked tirelessly for years, to bring this day to pass.
Starting today, for the first time in almost a century, cannabis will be legal for adult recreational use in Canada as we become the first G7 country to remove laws restricting its use. History will record this as a breakthrough for personal freedom and reaffirm Canada's global position as a compassionate and progressive nation to live and work.
Over the last year, the Company has made a series of announcements, acquisitions, and investments to prepare for the anticipated increased demand in the Canadian and International marketplaces. Some highlights include:
- May 10, 2018: Beleave acquires Medi-Green, a leading network of medical cannabis clinics with existing and additional planned locations across Ontario and Quebec, becoming more closely involved in the patient experience.
- June 21, 2018: Beleave acquires 51% of Procannmed S.A.S., a privately held company that is fully licensed for the cultivation, production, extraction and distribution of THC and CBD medical cannabis in Colombia.
- July 19, 2018: Beleave acquires Seven Oaks as its recreational brand, which has a proven track record of working collaboratively to secure wholesale and distribution agreements with retailers across Canada, in pursuance of its recreational distribution and sales strategy.
- September 6, 2018: Beleave announces plans to acquire 250,000 square feet of greenhouse space and 85 acres of land in London, Ontario to cultivate and harvest cannabis for distribution and sale in Canada.
- September 20, 2018: Beleave enters into partnership with Kannavis Biotech Corp. to invest, build, and operate 867,000 square feet of indoor growing space in British Columbia.
"It's a new day in the Canadian cannabis industry, and a new chapter in Beleave's story," said Andrew Wnek, Beleave CEO. "We are launching recreational sales today in three provinces; British Columbia, Manitoba, and Ontario. We are well prepared for the future and anticipate many exciting updates to share with our clients and stakeholders in the coming months as we expand into five additional provinces early next year."
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 Llyodminster, 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.
For further information: Investor Relations Contact: Richard Oyelowo, Phone : 1 (833) 375 - 9995, Email : [email protected]; Media Relations Contact: Grant McLeod, SVP, Regulatory Affairs and General Counsel, Phone : (416) 910 - 3401, Email : [email protected]