Beleave Receives Health Canada Authorization to Sell Cannabis Oils
TORONTO, Jan. 15, 2019 /PRNewswire/ - Beleave Inc. (CSE: BE) (OTCQX: BLEVF) ("Beleave" or the "Company") is excited to announce its wholly-owned subsidiary Beleave Kannabis Corp. has been authorized by Health Canada to sell cannabis oil products effective January 11, 2019. After reviewing the application and supporting documentation, Health Canada granted an amended licence with modified conditions allowing for the sale of cannabis oil under the Cannabis Regulations.
"This license is pivotal to us meeting our goals in 2019, while driving product innovation and augmenting our research and development initiatives," said Roger Ferreira, Ph.D., Beleave's Chief Science Officer. "Oils will continue to make up a larger part of the cannabis market, especially as we ramp up for the regulatory changes coming in 2019. Receiving our sales authorization allows us to provide a wider array of products while providing Beleave with higher margins than dried flower."
ABOUT BELEAVE INC.
Beleave is a vertically-integrated Canadian cannabis company headquartered in Oakville, Ontario, that cultivates high-quality cannabis flower, oil and extracts.
Fully-licenced to cultivate and sell medical and recreational cannabis, Beleave is leading the way through research partnerships with universities to bridge the gap between science and tradition and to develop pharma-grade extracts and derivatives. Beleave has developed new product lines, including cannabis-infused powder and sugar products for 2019 as the recreational market is expected to allow for food and beverage-based cannabis products.
Beleave has also 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, extract and distribute medical cannabis in Colombia to capitalize on exports and the expanding Latin American market. In a strategic initiative to penetrate the European medical market, the Company has partnered with Canymed GmbH to supply the German market with medical cannabis.
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.