RECEIVES CANNABIS SALES LICENSE FROM HEALTH CANADA
Benchmark Botanics Inc.'s (BBT.C) 100-per-cent-owned subsidiary, Potanicals Green Growers Inc., has received a sales licence from Health Canada, effective July 26, 2019.
The license allows Benchmark to supply and sell finished cannabis products to provincial governments throughout Canada and through Canada's distribution and retail supply chain. Benchmark will be providing recreational and medical dried cannabis, capsules and other forms of cannabis products, as the Government of Canada makes more forms of the product legal for sale and consumption later this year.
"Receiving the Health Canada sales license is of significant importance and signals a giant step forward for the growth of Benchmark," said William Ying, CEO of Benchmark Botanics. "The sales license gives the Company the ability to sell additional products and is very timely with the new legalization for the edible market soon upon us. Our sales license will allow us to enter the Canadian medical and recreational marketplaces, as well as fulfill potential international supply agreements."
Along with the recent approvals for the Zhejiang Yatai Pharmaceutical Co., Ltd. joint venture, receiving the sales license represents another key milestone in Benchmark's path toward becoming one of global leaders in the development and commercialization of cannabis and cannabis-derived products designed to support health and wellness. Since late 2017, Benchmark has secured all regulatory approvals required to harvest and sell cannabis, which has contributed to the ongoing growth and enhancement of the business.
About Benchmark Botanics Inc.
Benchmark Botanics is a diversified multi-licensed cannabis producer focused on a three-way vertical business model targeting the medical, pharmaceutical, and recreational markets in Canada and the EU. The Company's business plan also includes a strategy to become a Canadian licensed producer to pioneer selling medical cannabis and hemp in China and throughout Asia.
Benchmark Botanics 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 Botanics' 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 building a Phase II expansion of an 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.