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The Canadian Bioceutical Corporation (CBICF)

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Last Post: 8/8/2017 10:48:02 AM - Followers: 4 - Board type: Free - Posts Today: 0
Nevada Cannabis Operations to be Acquired for $19mm by Canadian Public Company
May 4, 2017 at 7:36 am

Published by NCV Newswire

Visit the Canadian Bioceutical Corp Investor Dashboard and stay up to date with data-driven, fact based due diligence for active traders and investors.
Canadian bioceutical
BCC expands into second adult use market

Acquiring award winning wholesale cannabis business in Las Vegas, Nevada

TORONTO, May 04, 2017 (GLOBE NEWSWIRE) — The Canadian Bioceutical Corporation (the “Company” or “BCC”) (CSE: BCC) (OTC: CBICF) today announced that the Company, through its wholly owned U.S. subsidiary CGX, is exercising its option, and is acquiring a 100% interest in GreenMart of Nevada LLC (“GreenMart”), an award winning licensed cultivation, production and wholesale business located in Las Vegas, Nevada. Management anticipates closing the transaction on or before May 30, 2017.

Transaction highlights

Creates strong presence in Las Vegas adult use market with over 42 million visitors annually.
Existing licensees have 12-18 month headstart to establish market share.
Fully operational, fully staffed, state-of-the-art licensed production facility, with capacity to produce 1.6 million grams of dried flower and 85,000 grams of high-margin concentrate.
Operations include production of concentrates, as well as edible and other high-margin infused products.
Company has commenced selling wholesale into the Nevada medical cannabis market, as well as is applying for a dispensary license to enter the higher-margin retail market.
2016 Jack Herrer Cup winner for best hybrid concentrate.
Arcview Market Research projects annual legal cannabis sales in Nevada to grow to an estimated US$630 million by 2020.
Attractive valuation at $19 million:
$9.5 million, non-interest bearing promissory note
$9.5 million in units, each unit, priced at CAD$0.75

Management commentary

“Commencement of sales into the adult use market in Nevada, under the state’s “Early Start Capitalized” program, is anticipated for July of this year, with a 12-18-month early mover advantage for existing licensees,” stated Scott Boyes, CEO. “In order to benefit from the strong revenue and cash flow growth anticipated for GreenMart, we decided to accelerate exercising our option and acquire the company. We anticipate the operations to be materially accretive for revenues and earnings in the current fiscal year. We are delighted to bring GreenMart and its award winning products under the BCC umbrella, and we look forward to reporting on our progress as we continue to execute on our aggressive growth strategy.”

GreenMart is fully staffed and operational, and is extremely well-managed. In developing the Nevada business, we are leveraging the operational and commercial best practices developed at our highly successful Health for Life and MPX brands in Arizona. We anticipate this will accelerate market share development in a potentially very sizeable market with strong barriers to entry. Additionally, the shared operational template facilitates integration.


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#12  Sticky Note Innovation in cultivation is another focus area. Innoscape 08/08/17 10:48:02 AM
#12   Innovation in cultivation is another focus area. Innoscape 08/08/17 10:48:02 AM
#11   I am liking what I am seeing! A Innoscape 07/28/17 01:50:06 PM
#10   Li'l pinch, some volume, let's see if it Innoscape 07/27/17 10:02:23 AM
#9   Should be a good jump soon. Innoscape 07/17/17 02:34:12 PM
#8   Mass. will roll out just fine, and this PINKribbon 07/05/17 09:08:36 AM
#7   Happy 4th of July Everyone. The Space X Innoscape 07/04/17 05:48:28 PM
#6   + 10.46% at close since I started this Innoscape 07/03/17 01:22:57 PM
#5   Looking nice so far today! $CBICF Innoscape 07/03/17 09:48:01 AM
#4   Thank you. Yes, my efforts here are motivated Innoscape 07/02/17 08:20:36 AM
#3   THanks for getting this board started , for Marillionaire 07/02/17 01:52:50 AM
#2   Nevada going green so, a little research brought Innoscape 06/30/17 02:52:41 PM
#1   Welcome to my board. Innoscape 06/30/17 02:12:11 PM