Canada Legalizes Recreational Cannabis - BlissCo Ready to Bloom
VANCOUVER, British Columbia, June 22, 2018 (GLOBE NEWSWIRE) -- On the heels of Canada’s recreational cannabis legalization, the time has come at last for those companies flying under the radar that have quietly been preparing for this very moment. BlissCo (CSE:BLIS) is one of those players, meticulously readying its facility and building its international ecosystem. Get ready, because this promising sector is ready to bloom and ready to boom.
Building The Ecosystem
BlissCo earned its ACMPR license in March 2018 and began trading on the Canadian Securities Exchange. The company’s unique business model is focused on distribution, value added products and ultra-premium craft cannabis.
And people took notice. The Supreme Cannabis Company (TSX-V:FIRE) embraced BlissCo’s holistic, distribution focus and in February 2018 invested $3M in BlissCo, giving Supreme a 10% ownership position in the company. To complement the strategic investment, Supreme and BlissCo cemented a two-year supply agreement for BlissCo to purchase 3,000 kilos of dried cannabis from Supreme.
The Right Stuff
BlissCo’s team thoughtfully selected specific cannabis cultivars that are in high demand from medical patients in Canada and abroad.
The team delivers diverse business backgrounds that has enabled BlissCo to push aggressively to meet operational milestones including starting cultivation at its own facility just 30 days after being licensed.
Trend Watcher
BlissCo submitted a license amendment to Health Canada to produce up to 420 kilos of cannabis oil annually and brought the first Midas Co2 extractor to Canada. The proprietary two-column design makes the Midas one of the only systems in the world with the ability to safely extract therapeutic cannabis terpenes along with the whole plant oils, offering a full spectrum of benefits to users.
This Co2 extraction machine gives BlissCo the engine to fuel medical cannabis oil production and manufacture value added products like medical cannabis oil tinctures and medical cannabis capsules. A wise investment, with cannabis oil set to dominate much of this market.
Going International
To complement the domestic medical market growth BlissCo has recently signed an LOI to export 720 kilos of medical cannabis to Germany which is the largest medical cannabis market in the world. As BlissCo’s first footprint into Europe, this will set the stage for aggressive growth plans and the further expansion of the BlissCo ecosystem.
Medical Momentum
The medical applications of cannabis are becoming increasingly recognized, and the Complementary and Alternative medicine market expected to generate $196.87 billion globally by 2025. BlissCo has fed its ecosystem again recently with the addition of advisor Dr. Byrn Hyndman who is a board-certified medical doctor with the Canadian College of Family Physicians and a naturopath. Dr. Hyndman will also assist BlissCo as the company designs its first medical trials to will explore how specific cannabis cultivars may be best suited to treat specific ailments.
The BlissCo Ecosystem
Keeping its head down to focus on building a strong foundation has worked in BlissCo’s favor. This germination period has enabled the company to secure a winning combination of strong leadership, strategic partnerships, value added products and international growth infrastructure. The BlissCo ecosystem is ready to Bloom, and the team is focused on building a global cannabis ecosystem that makes a positive impact on the global marketplace.
On Behalf of the Board of Directors
BLISSCO CANNABIS CORP.
Damian Kettlewell, CEO, Founder & Chair
For further information please contact:
Damian Kettlewell, CEO
(604) 484 9119, ext. 3
damian.kettlewell@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.
© 2018 GlobeNewswire, Inc. All Rights Reserved.
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