BlissCo Receives Dried Cannabis From Ecosystem Partner Supreme for Sales License Amendment Application to Serve $200 Billion Medical Export Market
Global market for medical cannabis exports predicted to be worth $200 billion
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VANCOUVER, British Columbia, June 25, 2018 (GLOBE NEWSWIRE) -- BlissCo Cannabis Corp. (FRA:GQ4B) (CSE:BLIS), (“BlissCo”) is pleased to announce that just days after news of legalization in Canada, the company is receiving a supply of premium dried cannabis from The Supreme Cannabis Company Inc. (TSX-V:FIRE) this week.
This dried cannabis will enable BlissCo to apply for a sales amendment to its ACMPR license for the purpose of supplying its domestic and global ecosystem partners in nations where medical cannabis is federally legal.
It is estimated that the global market for medical cannabis exports could be worth $200 billion. Statistics Canada also estimated that $1.2 billion of illegal cannabis was exported in 2017 alone.
“We are right on schedule with the submission of this application to receive an amendment to our ACMPR license to permit us to begin sales in late September,” said Damian Kettlewell, CEO of BlissCo Cannabis Corp. “The transition to significant revenue growth is the key milestone that we have been focused on as we have laid the groundwork for almost five years. We continue to make positive steps towards realizing our vision of creating an iconic Canadian cannabis brand.”
This cannabis will be packaged into five, ten and thirty gram containers which will allow BlissCo to, in mid-July, apply for an amendment to its ACMPR license to allow dried cannabis sales in domestic markets and apply for export permits for international markets.
Additionally, BlissCo’s Ecosystem has initiated the exploration of business development plans that will continue to develop the company’s global network of strategic alliances, ultimately supporting the company’s efforts to foster relationships in the international market.
"We have been watching the development of BlissCo for some time and have been impressed by Mr. Kettlewell's retail and distribution strength, industry connectivity and vision for the cannabis industry in British Columbia and Western Canada." said John Fowler, CEO of Supreme Cannabis. "Like Supreme, British Columbians have a passion for high-quality cannabis and we look forward to [continuing our work with] Mr. Kettlewell and his team at BlissCo."
About BlissCo Cannabis Corp.
BlissCo Cannabis Corp. (CSE:BLIS) (FRA:GQ4B) owns, through its wholly-owned subsidiary BlissCo Holdings Ltd., a license to produce marijuana under the Access to Cannabis for Medical Purposes Regulations (ACMPR) which was originally granted on March 29, 2018.
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 is projected to have a sales license inspection from Health Canada in August 2018 and earn a sales license in late September to sell dried cannabis.
BlissCo's value proposition is to be a brand focused high-volume distributor, processor and packager of medical cannabis and adult use cannabis when it is legal in Canada.
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. Currently, BlissCo has a two-year supply agreement with The Supreme Cannabis Company Inc (TSX-V:FIRE) to purchase 3,000 kilograms of premium whole dried cannabis flower.
BlissCo is currently exploring brand expansion opportunities in multiple international markets where medical cannabis is federally legal.
Management is focused on establishing BlissCo as an iconic Canadian cannabis brand.
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.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/4c300102-0afa-47b4-a9f3-0ead41b2074f
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