ORIGINAL: North Bud Farms Completes Construction of its Phase One Cultivation Facility and Establishes U.S. Based Subsidiary, Bonfire Brands USA
2019-08-14 09:14 ET - News Release
TORONTO, Aug. 14, 2019 (GLOBE NEWSWIRE) -- North Bud Farms Inc.(CSE: NBUD) (OTCQB: NOBDF) ("NORTHBUD" or the "Company") is pleased to announce the completion of its 24,500 square foot phase one indoor cannabis cultivation facility located on 135 acres of land in Low, Quebec, Canada. This week consultants are finalizing the facility’s Evidence of Readiness Package for submission to Health Canada.
"This is an important milestone for NORTHBUD, as we transition from the construction phase to pre-operational phase,” said Ryan Brown, CEO of NORTHBUD. “We believe that we have built an extremely cost-effective facility that will allow us to be competitive in all aspects of the Canadian market. With the addition of over 500,000 square feet of outdoor production later this year, we anticipate production of over 10 million grams of Cannabis in calendar 2020.”
Creation of New U.S. Subsidiary
NORTHBUD wishes to inform shareholders that they have established a wholly owned U.S. based subsidiary. Bonfire Brands USA Inc. has been established to own and operate NORTHBUD’s proposed acquisitions in the U.S. markets.
NORTHBUD is pleased to announce that it has appointed Justin Braune as President of Bonfire Brands USA. Mr. Braune currently serves as the CEO of EUREKA Vapor and will lead all of the NORTHBUD’s U.S. operations.
Mr. Braune brings over 10 years of industry experience to the NORTHBUD team. A graduate of the United States Naval Academy, he served in the U.S. Navy for ten years where he helped manage nuclear reactor systems aboard the USS Ronald Reagan. He holds an MBA from the University of Southern California's Marshall School of Business.
Prior to joining EUREKA Vapor, Mr. Braune served as President at Made By Science, a startup science and delivery technology company which was recently acquired by Acreage Holdings. Mr. Braune has served as CEO and President for multiple startup private and public companies over his 10-year career in the cannabis industry.
“I look forward to working with Justin as we move into the operational phase of our U.S. expansion plan,” said Ryan Brown, CEO of NORTHBUD. “Justin has extensive contacts in the U.S. cannabis industry which will be very valuable as we continue to expand and enter into new partnerships.”
About North Bud Farms Inc.
North Bud Farms Inc., through its wholly owned subsidiary GrowPros MMP Inc., is pursuing a licence under The Cannabis Act. The Company has built a state-of-the-art purpose-built cannabis production facility located on 95 acres of Agricultural Land in Low, Quebec, Canada. North Bud Farms Inc. has entered into agreements to acquire assets in California, Colorado and Nevada.
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