ANNOUNCES CANNABIS SUPPLY AGREEMENT WITH BRITISH COLUMBIA
Benchmark Botanics Inc.'s (BBT.C) wholly owned subsidiary, Potanicals Green Growers Inc., has signed a licensed producer supply agreement for recreational cannabis with the Province of British Columbia and with the B.C. Liquor Distribution Branch (BCLDB), the sole, wholesale distributor of recreational cannabis for the province that will operate stand-alone, public retail stores and provide on-line sales.
Commenting on the signing of the cannabis supply agreement, William Ying, Benchmark's chief executive officer, stated: "We are extremely pleased to have achieved another major milestone and to further evolve the overall growth of the organization. Benchmark is very proud to have the credentials and capabilities to offer British Columbians safe, high-quality products. We are excited to work with partners that now includes the Province of British Columbia to help ensure the success of new adult-use recreational cannabis markets."
In addition to the company's bulk sale licence received in August, 2018, in July, 2019, Benchmark received notification from Health Canada that it had been granted a sales licence for the following activities related to sale of cannabis:
- A licence for sale for medical purposes;
- A licence for standard processing authorizing the sales of cannabis plants, cannabis plants seeds, fresh cannabis and dried cannabis products.
Benchmark now has the ability to sell into provincial recreational supply chains and make direct on-line sales to medical cannabis clients.
Benchmark, through Potanicals, acquired its original cultivation licence in October, 2017, under the Access to Cannabis for Medical Purposes Regulations.
About Benchmark Botanics Inc.
Benchmark Botanics is a diversified multilicensed cannabis producer focused on a three-way vertical business model targeting the medical, pharmaceutical and recreational markets in Canada and the European Union. The company's business plan also includes a strategy to become a Canadian licensed producer to pioneer selling medical cannabis and hemp throughout Asia.