CALGARY, AB – August 8, 2019 – CanadaBis Capital Inc. (“CanadaBis” or “the Company”), and its wholly owned subsidiary, 1998643 AB Ltd. (“Stigma Grow”), a licensed cannabis producer under the Cannabis Act, is pleased to announce that it has successfully passed microbial testing of its second crop required by Health Canada under the CTLS system. CanadaBis will now apply to amend its existing Health Canada sales license to include dried flower and oils and, once approved, will be in a position to begin supplying Alberta with their unique, high-quality craft cannabis products.
Travis McIntyre, President and Founder of CanadaBis stated, “With the approval of the successful submission of material for analytical testing, we will soon be in a position to expand our product offerings from fresh flower to dried flower and oils. Our existing grow rooms at the Red Deer facility are currently full, and we are working to maximize inventory in preparation for cannabis legalization 2.0.”
CanadaBis has also retained Independent Trading Group (“ITG”) to provide market making services in accordance with TSX Venture Exchange policies.
ITG will trade the securities of CanadaBis on the TSX-V for the purposes of maintaining an orderly market. In consideration of the services provided by ITG, the Company will pay ITG a monthly cash fee of $5,000 for a minimum term of three months, and renewable thereafter. CanadaBis and ITG are unrelated and unaffiliated entities. ITG will not receive shares or options as compensation. The capital used for market making will be provided by ITG.
Stigma Grow, a subsidiary of CanadaBis, currently operates 22,000 sq/ft of production space and plans to expand this area to 66,000 sq/ft later this year. The Company received a standard cultivation and processing license from Health Canada on March 8, 2019. Stigma Grow remains focused on growing a craft product with optimal cannabinoid profiles and is the first Health Canada licensed producer operating in the Red Deer area.
For more information on CanadaBis Capital, Stigma Grow or INDICAtive Collection, please visit www.canadabis.com or contact: