Vancouver, British Columbia, Canada – July 12, 2018: Benchmark Botanics Inc. (CSE: BBT / OTC Pink: BBHKF / FSE: BBW) (the “Company” or “Benchmark”) is pleased to announce it has been issued a License To Import by Health Canada.
This import license allows Benchmark, through its 100% owned subsidiary Potanicals Green Growers, access to a wide variety of genetics and strains for production. With this permit in hand, Benchmark executed a purchase order on July 11, 2018 with Dutch Passion from the Netherlands to import over 200 seeds representing 70 different strains.
The medical profile of these strains range from very high Cannabidiol (CBD) low THC, to high-THC/low-CBD, 1:1 THC:CBD strains. This is expected to provide the Company with a number of production options to fulfill expected current and future market demand following receipt of a license to sell.
“With the recent announcements regarding legalization of Marijuana in Canada, this license to import will allow us to further develop our product catalogue. It is a great step forward.” states Mr Zhang Johnson, CEO of Benchmark.
Benchmark is a publicly traded company based in Vancouver, British Columbia that is positioned to provide financing, partnership and acquisition opportunities to licensed producers and ancillary businesses within the global cannabis industry.
In November 2017, the Company acquired its first subsidiary, Potanicals Green Growers Inc. Potanicals Green Growers possesses a Health Canada license to cultivate cannabis and is an Access to Cannabis for Medical Purposes (ACMPR) Licensed Producer. In its first phase of operations, Potanicals is currently cultivating in its 12,700 square foot PHASE I indoor production facility. Benchmark is pursuing additional sites to retro-fit for large scale cultivation expansion.
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This news release contains forward-looking statements pertaining to various risks and uncertainties regarding future events. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. This news release includes forward-looking statements with respect to the business and future objectives of the Company, including development of its product catalogue and production options for additional strains of cannabis. There are numerous risks and uncertainties that could cause actual results and the Company’s plans and objectives to differ materially from those expressed in the forward-looking information, including related to: (i) the facility and Potanicals’ operations; (ii) adverse market conditions; (iii) the ability of the Company to complete financings in the future; (iv) dependence on suppliers and skilled labour; (v) government regulation and compliance with the ACMPR; (vi) managing and maintaining growth; (vii) unfavourable publicity or consumer perception litigation; and (viii) competition. There is a risk that Potanicals’ Producer’s License will not be amended to permit the Company to sell medical marijuana produced at its facility. Actual results could differ materially from those currently anticipated due to a number of factors and risks including the risk factors discussed in this news release and in the Company’s disclosure documents, which can be found under the Company’s profile on www.sedar.com and on the CSE website. These statements speak only as of the date of this news release. Except as required by law, the Company does not intend to update these forward-looking statements.