Vancouver, British Columbia – (Newsfile Corp. – March 25, 2021) – Benchmark Botanics, Inc. (CSE: BBT; FSE: BBW) (“Benchmark” or the “Company“) is pleased to announce that the Company has added two new directors to its board.
Mr. Terry Wang and Mr. Leon Jiao have been appointed to the Company’s board of directors. As per the Company’s March 18, 2021 press release, Mr. Wang was recently appointed as the Company’s Interim CEO. Mr. Jiao, currently the CFO and director of a wine and spirits company, brings valuable marketing, customer service and facility oversight skills to Benchmark Botanics. Mr. Jiao holds a BA degree from Simon Fraser University.
Mr. Haifeng Liu resigned as the Company’s President and board director. The Company wishes to thank Mr. Liu for his many valuable contributions, vision and dedication to Benchmark, and wishes him the best in his future endeavours. Mr. Liu has agreed to assist the Company in order to ensure a smooth transition. Additionally, Mr. David Li has resigned as the Company’s Chief Financial Officer. Ms. Jin Kuang CPA, CGA, Benchmark’s Financial Controller, has been appointed Chief Financial Officer of the Company.
Benchmark is a diversified multi-licensed cannabis producer focused on a three-way vertical business model targeting the medical 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, in countries 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. (“Potanicals”) is a Health Canada licensed producer under the Cannabis Act and its regulations. The Company has been producing at its indoor Peachland, BC Cannabis Complex. Along with cultivation and production, the Company’s Peachland BC facility also provided propagation, cultivation, cloning, storage, and research and development including genetic enhancements.
As part of its expansion strategy, the Company and a joint venture partner completed a second facility, a 4-acre Greenhouse Operation in Pitt Meadows, BC. The Company, through Potanicals, received its second cultivation license, effective November 29, 2019, from Health Canada for the Pitt Meadows greenhouse.
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BENCHMARK BOTANICS INC.
Interim 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. 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.