Gene Bank Possesses over 110 lab-tested craft strains developed over 17 years' from a team of breeders
VANCOUVER, Nov. 13, 2018 /CNW/ - Bougainville Venture Inc., (CSE-BOG) ("Bougainville" or the "Company") is pleased to announce that the Company has signed a Definitive Agreement dated November 8, 2018 further to a news release on November 1st, 2018 detailing the terms of the binding Letter of Intent.
Bougainville has signed a Definitive Agreement to acquire 100% of the shares of Gene Bank Research Inc. Gene Bank places Bougainville in a strong position to capitalize on the market opportunities created by the Cannabis Act that came into force in Canada earlier in 2018 (the "Cannabis Act"). Gene Bank offers a solution to bridge the gap between craft growers and licensed producers. Gene Bank has over 110 lab-tested craft strains developed by its team of knowledge breeders which collectively have over 17 years' experience in the industry. Gene Bank has positioned itself to capitalize on the new market opportunities brought in by the Cannabis Act and aims to be the largest proprietary genetic strain bank in Canada.
CEO, Andy Jagpal Comments:
"The acquisition of Gene Bank greatly expands our reach into the Canadian cannabis market. Gene Bank offers a solution to bridge the gap between craft growers and licensed producers created by the new Cannabis Act. This places Bougainville in a strong position to capitalize on this new market opportunity."
About Bougainville Ventures, Inc.
Bougainville provides cannabis infrastructure and seed-to-sale services to I-502 tenant-growers leasing greenhouse facilities space and providing fully built-out, turnkey solutions and ancillary services including processing, cannabis expertise and marketing and sales resources. Greenhouse canopies provide a 50% saving in cultivation cost.
For more information please visit: http://bougainvilleinc.com/
On behalf of the Board of Directors
BOUGAINVILLE VENTURES INC.
Andy Jagpal, CEO and Director
FORWARD LOOKING STATEMENTS: This news release contains certain forward-looking statements within the meaning of Canadian securities laws. Forward-looking statements are based on estimates and assumptions made by BOG in light of its experience and perception of current and expected future developments, as well as other factors that BOG believes are appropriate in the circumstances. Many factors could cause BOG's results, performance or achievements to differ materially from those expressed or implied by the forward looking statements, including: discrepancies between actual and estimated results from exploration and development and operating risks, dependence on early exploration stage concessions; uninsurable risks; competition; regulatory restrictions, including environmental regulatory restrictions and liability; currency fluctuations; defective title to mineral claims or property and dependence on key employees. Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
No regulatory authority has approved or disapproved the information contained in this news release.
SOURCE Bougainville Ventures Inc.
For further information: Andy Jagpal at [email protected] or 1-877-517-7816/1-844-734-8420