Agreement prepares BlissCo Ecosystem to supply the $63.5 billion global market
VANCOUVER, British Columbia, July 12, 2018 (GLOBE NEWSWIRE) — BlissCo Cannabis Corp. (CSE:BLIS) (FRA:GQ4B), (“BlissCo”) or the (“Company”) is pleased to announce that it has signed an agreement with GreenSeal Cannabis Company Ltd. (“GreenSeal”), to purchase 1,700 kilos of dried cannabis and 340 kilos of trim in the first two years of the agreement. The agreement has two renewable one year options.
This agreement provides BlissCo with the ability to use GreenSeal’s dried cannabis and package, process and sell the cannabis product to BlissCo’s medical patients or adult recreational customers in Canada when it is legal or export medical cannabis to other countries where medical cannabis is federally legal.
“A key aspect of the development of the BlissCo Ecosystem is building strong industry relationships. We have built a strong relationship with GreenSeal over the last 15 months and are pleased to announce our long-term partnership to purchase premium bulk cannabis for sale to our medical patients or into the adult use market. The unique base price and profit sharing supply agreement will help BlissCo and GreenSeal mutually benefit and build strong ties that benefit both companies,” said Damian Kettlewell, CEO of BlissCo Cannabis Corp.
In the spirit of collaborative partnerships our base price and profit sharing supply agreement with GreenSeal ensures that both companies will mutually benefit. When BlissCo earns amendments to our Access to Cannabis for Medical Purposes Regulations (the “ACMPR”) licence for sale of cannabis, we will be able to process and package GreenSeal cannabis as BlissCo branded dried cannabis, cannabis oil or pre-rolls for the medical and adult use markets. As well, BlissCo can use GreenSeal cannabis to process and package concentrate pens and cannabis edibles (including beverages) when concentrates and edibles are regulated for sale.
“We are thrilled to have solidified our relationship with BlissCo through this unique agreement and feel this collaborative model demonstrates the innovative professionals now occupying this space. With BlissCo’s reach domestically and internationally, we feel this opens up exciting new opportunities for GreenSeal to provide Canadian-grown products to an evolving marketplace full of potential. We are confident that this is only the beginning of a long and prosperous relationship in which GreenSeal consistently provides Damian and his outstanding team with some of the finest cannabis products, genetics and expertise Canada has to offer,” said Corey Hamilton, President of GreenSeal Cannabis Company Ltd.
According to research published by Ameri Research Inc., the global legal cannabis market was valued at $14.3 billion in 2016. The market is forecasted to reach a value of $63.5 billion in global sales in 2024.
About GreenSeal Cannabis Company Ltd.
GreenSeal Cannabis Company, Ltd. is a commercially-licensed producer under the ACMPR with a strong focus on developing premium quality cannabis products and genetics for the rapidly evolving global market – through its unique innovative platform, experienced team of professionals and vertical cultivation technology.
Based in Stratford, Ontario, GreenSeal is committed to ensuring the excellence of its products through research and innovation related to plant genetics, cultivation techniques and automation technology; ensuring the company both establishes and sustains itself as a valued leader within the modernizing cannabis industry.
“For the Greener Good”
About BlissCo Cannabis Corp.
BlissCo Cannabis Corp. (CSE:BLIS) (FRA:GQ4B) is an ACMPR licensed producer and future distributor of ultra-premium cannabis. The company sits at the heart of an international ecosystem and is focused on the success of its domestic and global partnerships.
BlissCo leverages the latest technology and is continuously developing its network of top-tier industry experts to drive the success of its brand and channels, moving premium Canadian cannabis to local and international markets.
BlissCo is backed by an experienced team that is deeply in tune and integrated with industry partners and BlissCo’s future patients and customers.
Learn more: BlissCo.com
On Behalf of the Board of Directors
BLISSCO CANNABIS CORP.
Damian Kettlewell, CEO, Founder & Chair
For further information please contact:
Christina Rao, Investor Relations
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.