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VANCOUVER, British Columbia, May 03, 2019 (GLOBE NEWSWIRE) -- Blissco Cannabis Corp. (CSE: BLIS) (OTCQB: HSTRF) (FRA: GQ4B), (“Blissco”) or the (“Company”) is a Canadian wellness cannabis brand based in British Columbia, a licensed processor and producer of premium dried cannabis and cannabis oil and a licensed distributor of dried cannabis products. The Company is pleased to provide investors with a corporate update.
"We are delighted with the significant sales we have made in our first quarter of shipping product," said Damian Kettlewell, CEO. “There has been a strong demand for Blissco products from our current four provincial distribution partners, and we expect to ship our complete product offering in our second quarter. Additionally, we have received expressed interest in our high-CBD full spectrum cannabis oil, which we anticipate fulfilling sales for in the coming months."
Blissco will begin shipping dried flower products to Alberta, New Brunswick and Saskatchewan in Q2 and cannabis oil products to provincial supply partners and approved medical patients in Q3.
The Company received $1,138,125 from the exercise of 4,552,500 share purchase warrants with an exercise price of $0.25 per share during the first quarter of 2019. These funds will support Blissco's operational expenditures and construction of its high volume ethanol extraction lab, to complement its existing licenced CO2 extraction lab. "We have submitted a building permit to the Township of Langley to build a mezzanine for packaging and storage. This mezzanine will create operational efficiencies for our new ethanol lab that could produce up to 10,600,000 bottles a year of 30 ml full spectrum cannabis oil extracts,” said Kettlewell.
In support of its recreational sales, the Company has launched a website focused on educational content and products, "It's important to Blissco that we provide our distribution partners and adult consumers with the age-gated access to the information they are searching for," said Kettlewell. Additionally, the next development phase for our website will support Blissco's medical patients."
Furthermore, Sean Dollinger has resigned as a member of Blissco’s Board of Directors.
About Blissco Cannabis Corp.
Blissco Cannabis Corp. (CSE: BLIS) (OTCQB: HSTRF) (FRA: GQ4B) is a Canadian wellness cannabis brand based in British Columbia and a multi-licensed processor, cultivator, and distributor of premium cannabis.
Blissco owns and operates an 18,000 square foot, state-of-the-art extraction, processing and cultivation facility located in Metro Vancouver, British Columbia. Blissco is supplying premium cannabis and Reserve whole flower and dried flower pre-rolls to the Canadian market with supply agreements in British Columbia, Alberta, Saskatchewan, and New Brunswick.
In support of Blissco’s global distribution strategy, the company has initiated its EU GMP certification process and has completed its first inspection by German authorities.
Learn more at blissco.com.
On Behalf of the Board of Directors
BLISSCO CANNABIS CORP.
Damian Kettlewell, CEO, Founder & Chair
For further information please contact:
1 604 484-9119
investors@blissco.com
Cautionary Statements
This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). The use of any of the word “will” and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such forward-looking statements should not be unduly relied upon. This news release contains forward-looking statements and assumptions pertaining to the following: the ability to execute on our strategic plans and the impact on our future operations, capital expenditures, receipt of a cannabis oil licence and a licence to sell dried cannabis and other objectives. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. The Company does not undertake to update these forward-looking statements, except as required by law.
The CSE has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.