Vancouver, BC, March 31, 2020 – Benchmark Botanics, Inc. (“Benchmark” or the “Company”) (CSE: BBT).
Benchmark Botanics, Inc., recognizing the widespread cancellation of public events as a protection of individual and public safety in the face of the COVID-19 pandemic, has decided to postpone the annual general meeting (“AGM”) originally scheduled on May 8, 2020 to a later date to be decided. The Company’s transfer agent, TSX Trust, has been notified and will be filing a Cancellation Notice on its profile on SEDAR at www.sedar.com.
The Company plans to provide an update on a new date for the AGM as soon as possible.
Benchmark is a diversified multi-licensed cannabis producer focused on a three-way vertical business model targeting the medical, pharmaceutical, and recreational markets in Canada. The Company’s business plan also includes a strategy to become a Canadian licensed producer to pioneer selling medical cannabis and hemp throughout Asia, where it is legal to do so.
Benchmark is focused on producing the highest-quality, indoor-grown cannabis for patients and adult recreational consumers, as well as developing international business partnerships to extend the Company’s global footprint.
Benchmark’s 100% owned subsidiary, Potanicals Green Growers Inc. is a Health Canada licensed producer under the Cannabis Act and its regulations (formerly ACMPR). The Company is producing at its indoor Peachland Cannabis Complex and is constructing a Phase II expansion of an additional 10,000 square foot extraction facility there. Along with cultivation and production, the company’s Peachland BC facility also provides propagation, cultivation, cloning, storage, research and development, genetics and is progressing towards CBD oil extraction and an EU-GMP certification.
As part of its expansion strategy the company with a partner completed a second facility, a 4- acre Greenhouse Operation in Pitt Meadows, BC. The Company through its wholly owned subsidiary and licensed producer Potanicals Green Growers Inc., has received its second cultivation license, effective November 29, 2019, from Health Canada for the Pitt Meadow greenhouse.
Benchmark Botanics has also acquired 51% of a company that holds a cannabis research and development licence issued from Health Canada under The Cannabis Act and its regulations.
ON BEHALF OF THE BOARD OF
BENCHMARK BOTANICS INC.
Chief Executive Officer
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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. Except as required by law, the Company does not intend to update these forward-looking statements.