VANCOUVER, June 3, 2019 /CNW/ - Pasha Brands Ltd. ("Pasha") (CSE: CRFT), Canada's largest craft cannabis organization, announced today that trading of its common shares will commence at market open today under exchange symbol "CRFT" on the Canadian Stock Exchange ("CSE"). This follows the completion of the reverse takeover of Broome Capital Inc. ("Broome") (TSXV: BCP).
Although new to the public markets, Pasha is Canada's only prohibition-era brand house and already the most significant force in Canada's craft cannabis community. The vertically integrated craft cannabis organization operates as a brand house representing Canada's most established craft cannabis cultivators, producers and retailers. Within the Pasha umbrella resides award-winning brands that have firmly established themselves, pre-legalization, in British Columbia – a region known around the world for its high quality craft cannabis product. Prior to legalization, the brands now owned by Pasha, while operating in the prohibition-era, ranked among the leading revenue producing companies now operating in the regulated industry.
"Today is historic for both Pasha Brands and the Canadian craft cannabis community," said Patrick Brauckmann, Executive Chairman of Pasha Brands. "Our listing not only marks the beginning for Pasha as a publicly traded company, but confirms our unwavering commitment to help take growers and brands, many of which played a role in making legalization happen, into the legal marketplace."
Beyond the brands' achievements, Pasha is led by a team who is well-known and well-respected in the Canadian craft cannabis community. Each member of Pasha's leadership team has uniques ties to the cannabis industry, which ultimately drives their motivation to bring craft cannabis to consumers on a global scale.
Pasha's wholly-owned subsidiary, BC Craft Supply Co. Ltd. ("BC Craft"), will assist micro-cultivators through development, licensing, testing, and distribution of craft cannabis products, in exchange for a guaranteed supply agreement with each micro-cultivator. Similar to Pasha, BC Craft has also amassed some of the most experienced growers in the industry who have laid the foundation for legal cannabis to exist today. Under the Health Canada framework, each micro-cultivator will be able to legally process approximately 500 kilograms of dried flower per year. For every 100 micro-cultivators BC Craft secures, up to 50,000 kilograms of world-class craft cannabis could be available to the market via Canada's regulated supply chain.
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 commencement of trading on the Canadian Securities Exchange. 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's subsidiary, BC Craft Supply Co. Ltd., is also developing a craft cannabis campus, which is dedicated to bringing craft quality into the newly legal cannabis market in Canada. BC Craft Supply Co. Ltd. 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