CanadaBis Capital Inc. Secures Cannabis Sales License for Stigma Grow, Remains Focused on Becoming a Canadian Leader in Concentrates
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.
on CanadaBis Capital, 1998643 (Stigma Grow), or INDICAtive Collection please visit www.canadabis.com, www.stigmagrow.ca, www.indicativecollection.ca or contact: Investor Relations, [email protected], 1-888-STIGMA1
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