Stigma Grow's new licences allow for the
direct sale of cannabis extracts, including their expanding lineups
of shatter, live resin vape cartridges, budders, waxes and
more.
RED DEER, AB, Dec. 14, 2020 /CNW/ - CanadaBis Capital Inc.
(TSXV:CANB) ("CanadaBis" or "the Company"), is pleased to announce
that its 100% owned subsidiary, 1998643 AB LTD. ("Stigma Grow") has
secured its federal licence to cultivate and process from Health
Canada under the Cannabis Act, and can now sell their expanding
lineup of first-to-market hydrocarbon cannabis concentrates
directly from its 66,000 square foot cultivation facility in
Red Deer, Alberta.
Securing their sales licence for concentrates represents the
final step in achieving their vision as a well-positioned,
multi-pillared cannabis company with the ability to facilitate all
aspects of cannabis concentrate production from cultivation to
processing, packaging and shipment.
"We are thrilled to finally be in control of our own destiny,"
said Travis McIntyre, CEO of
CanadaBis Capital Inc. "For the past few months, we have relied on
our third-party partners to provide a path to market and a house
within which we could thrive at a crucial time in our evolution. To
that end, we are eternally grateful to CannMart Inc and Namaste
Technologies for their assistance when we needed it most! We look
forward to continuing this rare and valued relationship in a
variety of ways across our multiple pillars of business."
The Company's CIDI Lab houses one of the only hydrocarbon
extraction processing setups in Canada, positioning them to bring
difficult-to-produce products to market on a mass scale. Equipped
with both expertise, market demand and third-party processing
abilities, Stigma Grow is quickly becoming the go-to for a wide
range of new, exciting and potent products.
"We're just getting started", explains Travis. "Our vision as a
company has always been to provide our community with what is
in-demand, and it's nice that our licencing finally aligns with our
capabilities."
As CanadaBis continues to evolve, they are pleased to report
that Shane Chana, CPA, CA has been
appointed as Interim Chief Financial Officer. Mr. Chana was elected
a director of CanadaBis in January
2020 and has served as the Chief Financial Officer of
Centerfire Energy Group since 2016, which is an oilfield service
group located in Fort McMurray,
Alberta. Prior to this, he worked at MNP LLP, a Canadian
national public accounting firm from 2009 to 2016 as a Senior
Manager. Mr. Chana holds a Bachelor of Commerce degree
from the University of Northern British
Columbia and obtained his Chartered Accounting designation
in 2012.
About Stigma Grow's Red Deer Cultivation and Processing
Facility
Cultivation
Although the Company sees a shift in focus from flower to
concentrates, they have not lost sight of the need to provide
high-quality craft cannabis and recognize the synergistic
connection.
As with any Premium Product, the best inputs generate the best
outputs. The combination of the two sets the stage for our
long-term plans as a craft-cannabis cultivator recognized for
high-quality in everything we produce. This ongoing commitment to
both sides of the cannabis market will allow us to control the
quality of our products, and always ensure an optimized
offering.
Stigma Grow currently operates 44,000 sq/ft of production space
and is in the midst of their Phase 3 expansion which will increase
this area to 66,000 sq/ft by mid-2021. Proudly offering
craft-quality products with optimal cannabinoid profiles, Stigma
Grow was the first Health Canada-licensed producer operating in
the Red Deer area.
Processing
In addition to representing products that are in high demand,
Stigma concentrate products will be some of the first available in
the Canadian legal market.
Stigma's concentrates promise an extremely clean, consistent and
pure form of cannabis product, and Stigma's third-party processing
abilities have already captured the interest of several LPs looking
for service providers capable of facilitating the expansion of
their own lines of products.
At present, Stigma has signed agreements with several reputable
LPs to conduct concentrate manufacturing on their behalf, and
currently hold POs for provincial channels scheduled for a
second-quarter delivery of high-quality, terpene-rich, badder, live
res budder and live res caviar. The Company is currently in talks
for multiple synergistic partnerships and expects to make another
announcement in the coming weeks.
For more information, access the Company's investor presentation
and recently updated strategic direction at their website:
CanadaBis.com
About CanadaBis Capital Inc.
CanadaBis Capital Inc. (TSXV:CANB) is a vertically integrated
Canadian cannabis company focused on achieving large-scale growth
in the fast-emerging global cannabis market. By targeting organic
growth opportunities alongside the right-fit partners, we remain
focused on finding and capitalizing on chances to grow, diversify
and continue to lead our industry.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
INFORMATION:
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 our business and operations including development and expansion
plans; intention to develop property in British Columbia; increasing our product lines
to include CBD distillates; and our general business plans.
Forward-looking statements are necessarily based upon a number of
assumptions that, while considered reasonable, are subject to known
and unknown risks, uncertainties, and other factors which may cause
actual results and future events to differ materially from those
expressed or implied by such forward-looking statements. Such
factors include but are not limited to compliance with extensive
government regulation, the general business, economic, competitive,
political and social uncertainties; successful negotiation of
necessary agreements to get our product to market; requirement for
further capital, delay or failure to receive board, shareholder or
regulatory approvals; the results of operations and such other
matters as set out in the Filing Statement available on SEDAR at
www.sedar.com. 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. Investors are cautioned that
forward-looking information is not based on historical facts but
instead reflects management's expectations, estimates or
projections concerning future results or events based on the
opinions, assumptions and estimates of management considered
reasonable at the date the statements are made. Although we believe
that the expectations reflected in such forward-looking information
are reasonable, such information involves risks and uncertainties,
and undue reliance should not be placed on such information, as
unknown or unpredictable factors could have a material adverse
effect on our future results, performance or achievements.
Should one or more of these risks or uncertainties materialize,
or should assumptions underlying the forward-looking information
prove incorrect, actual results may vary materially from those
described herein as intended, planned, anticipated, believed,
estimated or expected. Although the Company has attempted to
identify important risks, uncertainties and factors which could
cause actual results to differ materially, there may be others that
cause results not to be as anticipated, estimated or intended.
CanadaBis Capital does not intend, and does not assume any
obligation, to update this forward-looking information except as
otherwise required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE CanadaBis Capital Inc.