BENCHMARK BOTANICS RECEIVES CANNABIS SALES
COMPLETES JV WITH LARGE CHINA PHARMACEUTICAL
Benchmark Botanics Inc.'s (BBT.C) wholly owned subsidiary, Potanicals Green Growers Inc., received a sales licence from Health Canada, on July 26, 2019.
The licence allows Benchmark to supply and sell finished cannabis products to provincial governments throughout Canada and through Canada's distribution and retail supply chain. Benchmark will be providing recreational and medical dried cannabis, capsules and other forms of cannabis products as the government of Canada makes more forms of the product legal for sale and consumption later this year.
"Receiving the Health Canada sales licence is of significant importance and signals a giant step forward for the growth of Benchmark," commented William Ying, chief executive officer of Benchmark Botanics. "The sales licence gives the company the ability to sell additional products and is very timely with the new legalization for the edible market soon upon us. Our sales licence will allow us to enter the Canadian medical and recreational marketplaces, as well as fulfill potential international supply agreements."
Along with the approvals for the Zhejiang Yatai Pharmaceutical Co. Ltd. joint venture and sales licence represent another key milestone in Benchmark's path toward becoming one of global leaders in the development and commercialization of cannabis and cannabis-derived products designed to support health and wellness. Since late 2017, Benchmark has secured all regulatory approvals required to harvest and sell cannabis, which has contributed to the continuing growth and enhancement of the business.
Benchmark and Zhejiang Yatai Pharmaceutical Co. Ltd. signed a definitive agreement to establish a joint venture company in Canada, subject to compliance with Canadian Cannabis Act and related regulations, to cultivate, manufacture, process and market high-content cannabidiol (CBD) cannabis products, along with the research and development of medical cannabis; and the extraction, isolation and purification of high-CBD cannabis oil for commercial applications. Zhejiang Yatai is a publicly listed company on the Shenzhen Stock Exchange (stock code: 002370).
Zhejiang Yatai Pharmaceutical is one of the top 500 China Enterprises founded in 1989 which researches, produces, sells, and exports pharmaceutical products, tablets, capsules, patches, powder injections in China and internationally.
2018 Financial Highlights
Market Cap $ 8.525 B USD
Revenues $188.29 M USD
Net Income: $30.1M USD
803 employees
50 offices in 24 provinces China
GMP standards / modern pharmaceutical production techniques
2002 ISO 9001 quality certification – ISO 14001 environmental protection
http://en.yatai.com/
https://benchmarkbotanics.com
COMPLETES JV WITH LARGE CHINA PHARMACEUTICAL
Benchmark Botanics Inc.'s (BBT.C) wholly owned subsidiary, Potanicals Green Growers Inc., received a sales licence from Health Canada, on July 26, 2019.
The licence allows Benchmark to supply and sell finished cannabis products to provincial governments throughout Canada and through Canada's distribution and retail supply chain. Benchmark will be providing recreational and medical dried cannabis, capsules and other forms of cannabis products as the government of Canada makes more forms of the product legal for sale and consumption later this year.
"Receiving the Health Canada sales licence is of significant importance and signals a giant step forward for the growth of Benchmark," commented William Ying, chief executive officer of Benchmark Botanics. "The sales licence gives the company the ability to sell additional products and is very timely with the new legalization for the edible market soon upon us. Our sales licence will allow us to enter the Canadian medical and recreational marketplaces, as well as fulfill potential international supply agreements."
Along with the approvals for the Zhejiang Yatai Pharmaceutical Co. Ltd. joint venture and sales licence represent another key milestone in Benchmark's path toward becoming one of global leaders in the development and commercialization of cannabis and cannabis-derived products designed to support health and wellness. Since late 2017, Benchmark has secured all regulatory approvals required to harvest and sell cannabis, which has contributed to the continuing growth and enhancement of the business.
Benchmark and Zhejiang Yatai Pharmaceutical Co. Ltd. signed a definitive agreement to establish a joint venture company in Canada, subject to compliance with Canadian Cannabis Act and related regulations, to cultivate, manufacture, process and market high-content cannabidiol (CBD) cannabis products, along with the research and development of medical cannabis; and the extraction, isolation and purification of high-CBD cannabis oil for commercial applications. Zhejiang Yatai is a publicly listed company on the Shenzhen Stock Exchange (stock code: 002370).
Zhejiang Yatai Pharmaceutical is one of the top 500 China Enterprises founded in 1989 which researches, produces, sells, and exports pharmaceutical products, tablets, capsules, patches, powder injections in China and internationally.
2018 Financial Highlights
Market Cap $ 8.525 B USD
Revenues $188.29 M USD
Net Income: $30.1M USD
803 employees
50 offices in 24 provinces China
GMP standards / modern pharmaceutical production techniques
2002 ISO 9001 quality certification – ISO 14001 environmental protection
http://en.yatai.com/
https://benchmarkbotanics.com
