Beleave Announces Initial Cannabis Oil Sales After Receiving Health Canada Authorization
Beleave Inc. (BE.CN) (BLEVF) (“Beleave” or the “Company“) is pleased to announce that its wholly-owned subsidiary Beleave Kannabis Corp has commenced sales of cannabis oil products at its licensed facility in Hamilton, Ontario.
Beleave has completed its first wholesale transfer of two bulk lots of cannabis oil to another standard processor license holder, as well as having begun cannabis oil product sales to medicinal patients through its online store https://shop.beleave.com. The Company received authorization from Health Canada to sell cannabis oil products in January 2019.
“We’ve been looking forward to sharing these efforts with our patients and the entire Beleave community. I’m happy to say that the time has finally come,” said Roger Ferreira, Chief Science Officer at Beleave. “Our whole team has been working very hard to ensure we’re delivering on our commitment to produce high-quality products that we can all be proud of. We continue to invest in our research and development pipeline in anticipation of future opportunities in the Canadian cannabis derivatives market.”
Current product offerings available to medicinal patients include a blended and balanced THC/CBD cannabis oil. These high-quality and pure cannabis oil products are being offered to patients in convenient and easy-to-use 30 mL bottles with an applicator – allowing for precise dosing control by the patient. MCT, a non-allergenic, flavourless and odourless oil widely-used for pharmaceutical applications, will be used as the carrier oil for Beleave’s cannabis oil products to assist in the timely delivery and absorption of THC and CBD.
Cannabis oil production is already underway at Beleave’s industrial extraction laboratory using proprietary (patent-pending) methods. This process involves the activation, extraction and purification of THC and CBD using only potable components, without using any organic solvents. In addition to producing oils for Beleave’s own medicinal patients, the Company is actively engaged in contract negotiations to offer the same extraction, processing, packaging and distribution services to other micro and standard processor licensed companies.
“We are very excited and proud of our scientific research team and the quality of the work they’re producing,” said Bill Panagiotakopoulos, Chief Executive Officer at Beleave. “In conjunction with our dried flower products, we feel our company’s success will also rely on the production and processing of oils and derivatives for the adult recreational market, anticipated for later this year. This is another great milestone for Beleave.”
Patent applications submitted for the Company’s processes include a regularly submitted United States patent application (U.S. Patent Application 16/201,547), as well as a Patent Cooperation Treaty (PCT) and International Application (PCT Patent Application PCT/CA2018/051508).
ABOUT BELEAVE INC.
Beleave is an ISO certified, Canadian cannabis company headquartered in the Greater Toronto Area that cultivates high-quality cannabis flower, oil and extracts for medical and recreational markets. Beleave is fully-licenced to cultivate and sell medical and recreational cannabis and is leading the way through research partnerships with universities to develop pharma-grade extracts and derivatives.
Beleave is developing new product lines, including cannabis-infused powder products for 2019 as the recreational market is expected to allow for food and beverage-based cannabis products. Beleave has developed a network of medical cannabis clinics in Ontario and Quebec under the Medi-Green banner. Through its majority ownership of Procannmed S.A.S., Beleave is fully licensed to cultivate, produce, and extract medical cannabis in Colombia positioning it to capitalize on exports and the expanding Latin American market. The Company has partnered with Canymed GmbH to supply the German market with medical cannabis.
Forward-Looking Statements
This news release contains “forward-looking information” within the meaning of applicable securities law (“forward-looking statements”). The use of any of the words “plan”, “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “should”, “believe” and other similar words, or statements that certain events or conditions “may” or “will” occur are intended to identify forward-looking information. These statements are only predictions. Although the Company believes that the expectations and assumptions on which the forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Since forward-looking information addresses future events and conditions, by its very nature it involves inherent risks and uncertainties. This information speaks only as of the date of this news release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company’s disclosure documents, which can be found under the Company’s profile on www.sedar.com.
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