Stigma Grow’s new licences allow for the direct sale of cannabis extracts, including their expanding lineups of shatter, live resin vape cartridges, budders, waxes and more.
RED DEER, AB, Dec. 14, 2020 – CanadaBis Capital Inc. (TSXV:CANB) (“CanadaBis” or “the Company”), is pleased to announce that its 100% owned subsidiary, 1998643 AB LTD. (“Stigma Grow”) has secured its federal licence to cultivate and process from Health Canada under the Cannabis Act, and can now sell their expanding lineup of first-to-market hydrocarbon cannabis concentrates directly from its 66,000 square foot cultivation facility in Red Deer, Alberta.
Securing their sales licence for concentrates represents the final step in achieving their vision as a well-positioned, multi-pillared cannabis company with the ability to facilitate all aspects of cannabis concentrate production from cultivation to processing, packaging and shipment.
“We are thrilled to finally be in control of our own destiny,” said Travis McIntyre, CEO of CanadaBis Capital Inc. “For the past few months, we have relied on our third-party partners to provide a path to market and a house within which we could thrive at a crucial time in our evolution. To that end, we are eternally grateful to CannMart Inc and Namaste Technologies for their assistance when we needed it most! We look forward to continuing this rare and valued relationship in a variety of ways across our multiple pillars of business.”
The Company’s CIDI Lab houses one of the only hydrocarbon extraction processing setups in Canada, positioning them to bring difficult-to-produce products to market on a mass scale. Equipped with both expertise, market demand and third-party processing abilities, Stigma Grow is quickly becoming the go-to for a wide range of new, exciting and potent products.
“We’re just getting started”, explains Travis. “Our vision as a company has always been to provide our community with what is in-demand, and it’s nice that our licencing finally aligns with our capabilities.”
As CanadaBis continues to evolve, they are pleased to report that Shane Chana, CPA, CA has been appointed as Interim Chief Financial Officer. Mr. Chana was elected a director of CanadaBis in January 2020 and has served as the Chief Financial Officer of Centerfire Energy Group since 2016, which is an oilfield service group located in Fort McMurray, Alberta. Prior to this, he worked at MNP LLP, a Canadian national public accounting firm from 2009 to 2016 as a Senior Manager. Mr. Chana holds a Bachelor of Commerce degree from the University of Northern British Columbia and obtained his Chartered Accounting designation in 2012.
About Stigma Grow’s Red Deer Cultivation and Processing Facility
Although the Company sees a shift in focus from flower to concentrates, they have not lost sight of the need to provide high-quality craft cannabis and recognize the synergistic connection.
As with any Premium Product, the best inputs generate the best outputs. The combination of the two sets the stage for our long-term plans as a craft-cannabis cultivator recognized for high-quality in everything we produce. This ongoing commitment to both sides of the cannabis market will allow us to control the quality of our products, and always ensure an optimized offering.
Stigma Grow currently operates 44,000 sq/ft of production space and is in the midst of their Phase 3 expansion which will increase this area to 66,000 sq/ft by mid-2021. Proudly offering craft-quality products with optimal cannabinoid profiles, Stigma Grow was the first Health Canada-licensed producer operating in the Red Deer area.
In addition to representing products that are in high demand, Stigma concentrate products will be some of the first available in the Canadian legal market.
Stigma’s concentrates promise an extremely clean, consistent and pure form of cannabis product, and Stigma’s third-party processing abilities have already captured the interest of several LPs looking for service providers capable of facilitating the expansion of their own lines of products.
At present, Stigma has signed agreements with several reputable LPs to conduct concentrate manufacturing on their behalf, and currently hold POs for provincial channels scheduled for a second-quarter delivery of high-quality, terpene-rich, badder, live res budder and live res caviar. The Company is currently in talks for multiple synergistic partnerships and expects to make another announcement in the coming weeks.
For more information, access the Company’s investor presentation and recently updated strategic direction at their website: CanadaBis.com
About CanadaBis Capital Inc.
CanadaBis Capital Inc. (TSXV:CANB) is a vertically integrated Canadian cannabis company focused on achieving large-scale growth in the fast-emerging global cannabis market. By targeting organic growth opportunities alongside the right-fit partners, we remain focused on finding and capitalizing on chances to grow, diversify and continue to lead our industry.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:
This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to our business and operations including development and expansion plans; intention to develop property in British Columbia; increasing our product lines to include CBD distillates; and our general business plans. Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include but are not limited to compliance with extensive government regulation, the general business, economic, competitive, political and social uncertainties; successful negotiation of necessary agreements to get our product to market; requirement for further capital, delay or failure to receive board, shareholder or regulatory approvals; the results of operations and such other matters as set out in the Filing Statement available on SEDAR at www.sedar.com. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on forward-looking statements. Investors are cautioned that forward-looking information is not based on historical facts but instead reflects management’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although we believe that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have a material adverse effect on our future results, performance or achievements.
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. CanadaBis Capital does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Investor Relations: Travis McIntyre, CEO, email@example.com