- Canadian medical cannabis market expected to grow to $8.7 billion in the first year of legalization
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VANCOUVER, British Columbia, July 03, 2018 (GLOBE NEWSWIRE) -- BlissCo Cannabis Corp. (CSE:BLIS) (FRA:GQ4B), (“BlissCo”) is pleased to announce the appointment of Matt Breech, CEO of TallGrass, to the company’s advisory board. "Mr. Breech brings decades of success within both the hemp and regulated health supplement industry. He has tremendous experience in developing and building distribution channels for health products nationwide. We believe that Matt will add tremendous value and help BlissCo to achieve its growth goals,” said Damian Kettlewell, CEO of BlissCo Cannabis Corp.
Mr. Breech co-founded TallGrass over 20 years ago in 1994. The company originally sold hemp t-shirts and has since evolved its own ecosystem into selling natural supplements, superfoods and other health and wellness products including products under the Botanica brand. The company distributes to 1,000 wellness stores across Canada.
“I have a lot of experience working with Health Canada in terms of regulatory and licensing specifically for natural health products. It is a unique challenge because before you’re allowed to take these products to market, the products must comply with a pre-authorized marketing system, and I have a ton of experience navigating strict regulation,” said Matt Breech. “We also have an importer license for every product that we sell and I have a lot of familiarity with that process. This is another area where I am able to support Damian in the further development of BlissCo’s global cannabis ecosystem."
Statista reported that the Canadian market value of medical cannabis in 2017 was estimated at $4.9-$8.7 billion. Post-legalization, the market is expected to grow to $8.7 billion in its first year, with an ancillary market bringing an estimated $22.6 billion.
“BlissCo is a part of a thriving sector that is just emerging, and there is already a ton of interest. What really sets BlissCo apart is that the company has a lot of integrity, it doesn’t surprise me at all that the company is welcoming such great entities into its ecosystem. BlissCo is in operation for the right reasons,” said Breech.
About BlissCo Cannabis Corp. BlissCo Cannabis Corp. (CSE:BLIS) (FRA:GQ4B) is an ACMPR licensed producer and future distributor of ultra-premium cannabis. The company sits at the heart of an international ecosystem and is focused on the success of its domestic and global partnerships.
BlissCo leverages the latest technology and is continuously developing its network of top-tier industry experts to drive the success of its brand and channels, moving premium Canadian cannabis to local and international markets.
BlissCo is backed by an experienced team that is deeply in tune and integrated with industry partners and BlissCo's future patients and customers.
BlissCo began growing medical cannabis in early May 2018 and applied to Health Canada to amend its ACMPR license to include cannabis oil production in early June 2018. BlissCo’s cannabis oil extraction lab room has been built and based on ongoing communication with Health Canada the company is projected to earn it’s cannabis oil production license amendment in July 2018.
With its existing capital the company will complete the outfitting of its top-of-the-line extraction lab which will produce cannabis oils, tinctures and other high-quality products.
BlissCo will be processing and distributing cannabis purchased from multiple supply agreements and from cannabis grown at its own state of the art facility in Metro Vancouver, B.C. BlissCo’s first supply agreement is with The Supreme Cannabis Company Inc (TSX.V:FIRE) to purchase 3,000 kilograms of premium whole dried cannabis flower over two years.
BlissCo is actively exploring brand expansion opportunities in multiple international markets where medical cannabis is federally legal. BlissCo has signed an Letter of Intent to export 720 kilograms of medical cannabis annually to a German distribution partner. BlissCo is having an initial Good Manufacturing Practices (GMP) facility audit in July 2018 and is projected to earn Eudralex GMP facility certification in Q4 2018 which will allow the Company to earn an export certification.
The Company has developed a strategic partnership with Supreme Cannabis Company Inc. (TSXv: FIRE) whereby Supreme completed a $3,000,000 strategic equity investment in BlissCo. The investment gives Supreme a 10% ownership stake in BlissCo.
Learn more: BlissCo.com
On Behalf of the Board of Directors
BLISSCO CANNABIS CORP.
Damian Kettlewell, CEO, Founder & Chair
For further information please contact:
Christina Rao, Investor Relations
1-604-723-7480 Christina.Rao@blissco.com
Cautionary Statement
This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). The use of any of the word “will” and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such forward-looking statements should not be unduly relied upon. This news release contains forward-looking statements and assumptions pertaining to the following: the ability to execute on our strategic plans and the impact on our future operations, capital expenditures, receipt of a cannabis oil license and a license to sell dried cannabis and other objectives. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. The Company does not undertake to update these forward-looking statements, except as required by law.
The CSE has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
