October 18, 2018 – Vancouver, B.C. – Benchmark Botanics Inc. (CSE: BBT; FSE:BBW) (“Benchmark Botanics or the “Company”) applauds the Canadian government’s legalization of recreational marijuana. Today will mark the first legal recreational marijuana sales in what is expected to be a massive market. The total cannabis market in Canada, including medical as well as recreational products is expected to generate up to $7.17 billion in total sales in 2019, according to a recent Deloitte report.
Commenting on the landmark development, Benchmark Botanical’s CEO, William Ying stated, “We are thrilled with the legalization of recreational cannabis in Canada. Benchmark Botanical is well positioned to take full advantage of the legislation. This significant milestone puts Benchmark at the forefront of the Cannabis Industry. The advantages of legalization are that it opens a retail market in addition to a medical market, loosens regulatory restrictions for access, expands distribution, and expands the industry to billions of dollars. The cannabis industry will now evolve at a very quick pace. Today’s legalization is another step forward for our Company as we continue to take Benchmark to new and greater levels”.
The legalization of recreational marijuana will have a tremendous positive impact on many of Benchmark businesses. The recent license agreement with the Bulldog (see news release on September 27), for example, is an evidence of our determined execution of strategies. With the use of The Bulldog trademarks, we will seek to build one of the most engaging and successful brands and develop leading products in Canada for the adult-use market. With the addition of The Bulldog trademark, which has a long-established history as one of the most well-known coffee shop brands in Amsterdam and beyond, the partnership will assist the Company to position itself in the Canadian adult-use cannabis market. The Company is continuing to make prudent investments and efforts into marketing and branding of our products for the Canadian adult-use cannabis market.”
About THE BULLDOG
THE BULLDOG is an Amsterdam-based company that owns and operates a chain of cannabis coffee shops, a five-star hostel hotel in Amsterdam, locations in Canada and a merchandising line. The Bulldog No. 90 was the first coffee shop in Amsterdam and laid the benchmark for the contemporary coffee shop. What once began in a cellar, has grown into well recognized trade- name in several countries. THE BULLDOG Amsterdam has one of the longest histories of legalized recreational cannabis business with millions of customer visits to its stores every year.
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 possesses a Health Canada license to cultivate and sell cannabis as 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 retrofit for large scale cultivation expansion.
ON BEHALF OF THE BOARD OF
BENCHMARK BOTANICS INC.
/s/ “William Ying”
Chief Executive Officer
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Benchmark Botanics, Inc.
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FORWARD LOOKING INFORMATION
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information. More particularly and without limitation, the news release contains forward-looking statements and information relating to Company’s corporate strategy. The forward-looking statements and information are based on certain key expectations and assumptions made by management of the Company, including, without limitation, the Company’s ability to carry out its business plan. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information since no assurance can be given that they will prove to be correct.
Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward-looking statements and information address future events and conditions, by their very nature they involve risks and uncertainties. Actual results could differ materially from those currently anticipated due to several factors and risks. These include, but are not limited to, the Company’s ability to identify and complete additional suitable acquisitions to further the Company’s growth as well as risks associated with the medical marijuana industry in general, such as operational risks in development and production delays or changes in plans with respect to development projects or capital expenditures; the uncertainty of the capital markets; the uncertainty of receiving the required licenses, production, costs and expenses; health, safety and environmental risks; marketing and transportation; loss of markets; environmental risks; competition; incorrect assessment of the value of the potential market; ability to access sufficient capital from internal and external sources; failure to obtain required regulatory and other approvals and changes in legislation, including but not limited to tax laws and regulated regulations. Accordingly, readers should not place undue reliance on the forward-looking statements, timelines and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive.
The forward-looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws or the Canadian Securities Exchange. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.