VANCOUVER, June 18, 2019 /CNW/ - Prohibition-era brand house Pasha Brands Ltd. ("Pasha") (CSE: CRFT) (OTC:CRFTF) is pleased to introduce BC Craft Supply Co. Ltd. ("BC Craft") as the first in its line of nearly a dozen leading craft cannabis brands that aim to rectify Canada's ongoing product shortage and quality issues. Through its subsidiaries, Pasha is Canada's first licensed producer exclusively focused on assisting the original cannabis industry in Canada in gaining access to the regulated market through Health Canada's new micro cultivation licensing regime.
BC Craft is helping Canada's leading cannabis growers acquire micro-cultivation licences by providing comprehensive support and advice, as well as all necessary testing, processing and packaging to help growers legally bring their products to market. With Pasha's recent acquisition of Medcann Health Products Ltd. ("Medcann"), a fully licensed, Health Canada approved facility, BC Craft is uniquely positioned to work with the thousands of craft producers in Canada that are now looking to transition into Canada's new regulated supply chain.
"I'm confident that what BC Craft Supply Co. will be able to contribute to the legal market will set the standard for craft production and supply chain management, not just in Canada but internationally," said Jason Longden, CEO of Pasha Brands. "Confidence in the brand has already inspired craft cultivators throughout British Columbia and from across the country to join our team, and we're eager to help solve Canada's ongoing supply issue with quality cannabis the legal market has yet to see."
Representing the first wave of Pasha's industry-shaking craft cannabis brands, BC Craft is a service provider in contract with some of Canada's best farmers to ensure their timely participation and competitive edge in Canada's burgeoning legal cannabis market. Spurred by a passion to support small businesses and pay respect to the cultivators that have always been the country's top choice for quality cannabis, the brand is working to assist in their transition into the market so that consumers can have legal access to legitimate and sought-after 'BC Bud' at long last.
With Medcann now part of the Pasha group, BC Craft will coordinate the purchase of craft cannabis from licensed micro cultivators under a supply agreement, kicking off the transition from the unregulated market—where nearly 85 percent of all cannabis sales in Canada still take place—to the legal one. Once micro cultivators are licensed and operational, BC Craft anticipates an annual supply of approximately 50,000 kilograms of cannabis per 100 micro cultivators in its supply chain. Industry estimates place the number of grey market producers in BC alone at as many as 20,000.
With BC Craft leading the charge in Canada to welcome "the other 85 percent" into the legal market, Pasha seeks to expand the reputation for quality that craft producers and prohibition-era brands established prior to legalization in Canada.
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 the proposed activities and operations of Medcann and BC Craft. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. 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. Pasha disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
About Pasha Brands
Based in Vancouver, British Columbia, Pasha is a vertically integrated, prohibition-era brand house firmly rooted in BC's craft cannabis industry, which boasts an international reputation. With proven capabilities in cannabis cultivation, genetic research and development, product processing, and retail, Pasha is uniquely positioned in the new legal cannabis market through its network of hundreds of craft cannabis suppliers under the Pasha umbrella.
Pasha subsidiary, Medcann Health Products Ltd., is a Health Canada licensed cultivator and processor with a licence to sell medical cannabis products in Canada.
Pasha and BC Craft are also developing a craft cannabis campus, which is dedicated to bringing craft quality into the newly legal cannabis market in Canada. BC Craft is driven to assist craft growers in obtaining security clearance and licensing to grow as micro-cultivators, specializing in education and compliance to bring growers into the regulated cannabis supply market.
Pasha's common shares trade on the CSE under the symbol "CRFT".
For more information, please visit www.pashabrands.com
SOURCE Pasha Brands Ltd.
For further information: Media & Investor Relations Contact: Emerald Asuncion, [email protected], (236) 521-5135