BC Craft Supply Announces Acquisition of Olympic View Botanicals


Ryan Allway

December 3rd, 2020

News, Top News


Source: BC Craft Supply Co. Ltd.

VANCOUVER, British Columbia, Dec. 02, 2020 (GLOBE NEWSWIRE) — BC Craft Supply Co. Ltd. (the “Company” or “BC Craft”) (CSE: CRFT) (OTC:CRFTF) (FSE:ZZD1) is pleased to announce that it has acquired (the “Acquisition”) a 100% interest in Olympic View Botanicals Ltd. (“OVB”), a Vancouver Island, British Columbia based company. OVB is currently in the process of building an indoor micro cannabis cultivation facility, while it concurrently submits an application to Health Canada for a Micro Cultivation License (“MC License”).  As part of the application process for a MC License, Health Canada allows applicants to utilize a one-time declaration for cannabis genetics that will allow OVB to bring in highly sought after west coast genetics that the Canadian cannabis market has yet to experience.

OVB has signed a purchase and processing agreement with Sitka Weed Works Inc. a cannabis processing facility also located on Vancouver Island.  These agreements in place will allow for increased cultivation and processing capacity for BC Craft’s supply chain.

Matthew Watters, CEO of BC Craft stated, “I look forward to working with the team at OVB and am excited to integrate their catalogue of exotic strains into the current market that is begging for quality over quantity.”

The consideration paid to the vendors of OVB consists of an aggregate of 15 million common shares in the capital of the Company (the “Consideration Shares”) issued at a deemed value of $0.08 per Consideration Share. The Vendors are arm’s-length to one another, and none of them, individually, holds 10% or more of the issued and outstanding shares of the Company on a non-diluted basis. The Company relied on the take-over bid exemption under Section 2.16 of National Instrument 45-106 – Prospectus Exemptions to issue the Consideration Shares. In this regard, the Consideration Shares are not subject to a four month and one day hold period.

For further information please contact Matthew Watters, Director, at (604) 687-2038.

About BC Craft Supply Co. Ltd.

Based in Vancouver, British Columbia, BC Craft Supply Co. has aggregated the best legacy-era talent from Canada’s craft cannabis industry, which boasts an international reputation. The team at BC Craft supports the most trusted cannabis cultivators in Canada to transition into their supply chain, bringing with them their unique cultivars and years of experience with the plant. In exchange for support with licensing, compliance and distribution, cultivators will sign on as a BC Craft supplier. This makes BC Craft uniquely positioned to be the premium cannabis brand in Canada.

BC Craft’s subsidiary, Medcann Health Products Ltd., is a Health Canada licensed cultivator and processor with a license to sell medical cannabis products in Canada.

Click here to connect with BC Craft Supply Co. on InstagramTwitterLinkedIn and Facebook, and click here to find more information on the Company.

CONTACT

Matthew Watters, Director
Phone: 604-687-2038
Email: mwatters@bccraftsupplyco.com

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management.

This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking information in this press release includes statements relating to Olympic View Botanicals building an indoor micro cannabis cultivation facility and the submission of an application to Health Canada for a Micro Cultivation License, the Company’s plan to offer new cannabis strains to the market, and anticipated increased cultivation and processing capacityAlthough the Company believes that the material factors, expectations and assumptions expressed in such forward- looking statements are reasonable based on information available to it on the date such statements were made, no assurances can be given as to future results, levels of activity and achievements and such statements are not guarantees of future performance.

Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. 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. The forward-looking information contained in this release is expressly qualified by the foregoing cautionary statements and is made as of the date of this release. Accordingly, readers should not place undue reliance on forward-looking statements. BC Craft disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.


Network Partners

Follow Us on Social Media

About CFN Media Group

CFN Enterprises Inc. (OTCQB: CNFN) owns and operates CFN Media Group, the premier agency and financial media network reaching executives, entrepreneurs and consumers worldwide. Through its proprietary content creation, video library, and distribution via www.CannabisFN.com, CFN has built an extensive database of cannabis interest, assisting many of the world’s largest cannabis firms and CBD brands to build awareness and thrive. For more information, please visit www.cfnenterprisesinc.com.

Disclaimer: Matters discussed on this website contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time-to-time have a position in the securities mentioned herein and will increase or decrease such positions without notice. The Information contains forward-looking statements, i.e. statements or discussions that constitute predictions, expectations, beliefs, plans, estimates, or projections as indicated by such words as "expects", "will", "anticipates", and "estimates"; therefore, you should proceed with extreme caution in relying upon such statements and conduct a full investigation of the Information and the Profiled Issuer as well as any such forward-looking statements. Any forward looking statements we make in the Information are limited to the time period in which they are made, and we do not undertake to update forward looking statements that may change at any time; The Information is presented only as a brief "snapshot" of the Profiled Issuer and should only be used, at most, and if at all, as a starting point for you to conduct a thorough investigation of the Profiled Issuer and its securities and to consult your financial, legal or other adviser(s) and avail yourself of the filings and information that may be accessed at www.sec.gov, www.pinksheets.com, www.otcmarkets.com or other electronic sources, including: (a) reviewing SEC periodic reports (Forms 10-Q and 10-K), reports of material events (Form 8-K), insider reports (Forms 3, 4, 5 and Schedule 13D); (b) reviewing Information and Disclosure Statements and unaudited financial reports filed with the Pink Sheets or www.otcmarkets.com; (c) obtaining and reviewing publicly available information contained in commonlyknown search engines such as Google; and (d) consulting investment guides at www.sec.gov and www.finra.com. You should always be cognizant that the Profiled Issuers may not be current in their reporting obligations with the SEC and OTCMarkets and/or have negative signs at www.otcmarkets.com (See section below titled "Risks Related to the Profiled Issuers, which provides additional information pertaining thereto). For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity-based compensation in the companies it writes about, or a combination of the two. For full disclosure, please visit: https://www.cannabisfn.com/legal-disclaimer/. A short time after we acquire the securities of the foregoing company, we may publish the (favorable) information about the issuer referenced above advising others, including you, to purchase; and while doing so, we may sell the securities we acquired. In addition, a third-party shareholder compensating us may sell his or her shares of the issuer while we are publishing favorable information about the issuer. Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.cannabisfn.com/legal-disclaimer/.

Copyright © Accelerize Inc. · All Rights Reserved · Privacy Policy · Legal Disclaimer

loading