TORONTO, Oct. 04, 2021 (GLOBE NEWSWIRE) -- Blueberries Medical Corp. (CSE: BBM) (OTC: BBRRF) (FRA: 1OA) (the “Company” or "Blueberries"), a Latin American licensed producer of medicinal cannabis and cannabis-derived products, today announced its wholly owned subsidiary Blueberries SAS has exported a total of 150 kg of premium CBD 5% Full Spectrum Oil to Futura Farms Peru, a leading licensed distributor serving the Peruvian market.
This is the Company´s largest sale to any customer worldwide since the beginning of the operations in 2018. The CBD oil shipped will be used as the primary ingredient for compounding formulations that Futura Farms is distributing to pharmaceutical establishments that have fulfilled their Good Storage Practices (“GSP”) requirements issued by Peru's General Directorate of Medicines, Supplies and Drugs (“DIGEMID”). Given the size of the shipment, the Company estimates that approximately 2.500 patients will benefit from the resultant finished formulas.
“Over the past six months we have focused most of our efforts on rapidly bringing our cultivation and extraction operations to maximum efficiency, and we feel that we are now ready to take on the challenge of expanding our commercial operations and connecting with global demand. This sale to our partner in Peru is significant because of its size and because it gives us confidence that we are on the right track”, said Jose Maria Forero, President of the operations in Latin America.
Facundo Garreton, Chief Executive Officer and Chairman of the Board, added that, “Blueberries Medical Corp.’s has achieved its short-term goals by reducing fixed structure costs and expenses, and focusing on revenue generation. In that sense, Company expects generate more than 7x revenues in comparison with previous fiscal year. Finally, Mr. Garreton mentioned he is excited with the future of the company due to recent Private Placement that took place on early September. That capital injection of USD 1.5M will provide the necessary resources to support operation, while expanding investment in property plant and new equipment, and getting the EUGMP certification to start selling our products to overseas markets”.
About Blueberries Medical Corp.
Blueberries is a Latin American licensed producer of naturally grown premium quality cannabis with its primary operations ideally located in the Bogotá Savannah of central Colombia. The Company is led by a specialized team with proprietary expertise in agriculture, genetics, extraction, medicine, pharmacology and marketing, Blueberries is fully licensed for the cultivation, production, domestic distribution, and international export of CBD and THC-based medical cannabis in Colombia. Blueberries’ combination of leading scientific expertise, agricultural advantages and distribution arrangements has positioned the Company to become a leading international supplier of naturally grown, processed, and standardized medicinal-grade cannabis oil extracts and related products.
Additional information about the Company is available at www.blueberriesmed.com. For more information, please contact:
Jose Forero, President, Latin American Operations
Tel: +57 310 345 8808
Guillermo Rodriguez, Chief Financial Officer
Tel: +54 9 11 6015 2227
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward looking statements relate, among other things, to: commencement of commercial production of CBD-dominant oils and products, successful implementation of full GMP standards at its extraction facility to allow for additional export potential to international markets, achieving additional milestones is contemplated, or at all, ability to expand distribution networks, ability to expand and upgrade the Company’s cultivation facilities in Colombia, internal expectations, expectations regarding the ability of the Company to access new Latin American and international markets, the ability to attract and retain new customers, and future expansion plans including development of the cultivation, production, industrialization and marketing of cannabis for commercial and scientific purposes.
These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: fluctuations in general macroeconomic conditions; fluctuations in securities markets; expectations regarding the size of the Colombian and international medical cannabis market and changing consumer habits; the ability of the Company to successfully achieve its business objectives; plans for expansion; political and social uncertainties; inability to obtain adequate insurance to cover risks and hazards; and the presence of laws and regulations that may impose restrictions on cultivation, production, distribution and sale of cannabis and cannabis related products in Colombia, Argentina and elsewhere; and employee relations. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
Additional information regarding the Company, and other risks and uncertainties relating to the Company's business are contained under the heading "Risk Factors" in the Company's Listing Statement dated January 31, 2019, and such other risk factors included in the management’s discussion and analysis of the Corporation for the year ended December 31, 2020, each filed on its issuer profile on SEDAR at www.sedar.com.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
