NOT FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, British Columbia, July 30, 2018 (GLOBE NEWSWIRE) — Kaneh Bosm BioTechnology Inc. (CSE:KBB) (FWB:8K51) (“Kaneh Bosm” or the “Company”) is pleased to provide a corporate update pertaining to the recent expansion of its medical cannabis and CBD portfolio.
Over the past two quarters, the Company has deployed an assertive vertically integrated acquisition strategy with the objective of further bolstering its existing medical cannabis and CBD distribution capabilities. Kaneh Bosm will continue to concentrate on assembling a robust portfolio of licenses globally specializing in the cultivation, extraction and distribution of medical cannabis and CBD products. Kaneh Bosm places specific emphasis on both the EU and Latin American regions, with a keen interest in Africa and Australasia, South-east Asia and the Pacific Rim.
Eugene Beukman, Chief Executive Officer of Kaneh Bosm states, “Kaneh Bosm has started a dynamic new chapter with the Company’s recent augmentation of its cultivation, extraction and distribution in key markets.
With 4 licenses in hand now – Greece, Slovenia, Colombia and Lesotho, the Company is also currently finalizing discussions on at least a half dozen additional licenses in Europe and Latin America.
We believe that this will make KBB the first publicly listed, globally focused, vertically integrated, cannabis pure play.”
The Company has recently added the following cultivation licenses, distribution and brands:
Marathon Global Inc.
Marathon has an exclusive agreement with Cosmos Holdings Inc. (“Cosmos”), a European based pharmaceutical distributor, to procure and distribute medical cannabis products and all cannabis derivatives for clients of Cosmos in approved countries within its distribution network of 110 clients, representing approximately 35,000 pharmacies in 16 countries.
This distribution strategy carries on the Company’s existing distribution business through its unique BioCanna ADM retail system.
CanAfrica holds a licence to cultivate, manufacture, supply, hold, import, export and transport cannabis and derivative products in the Kingdom of Lesotho (“Lesotho”), Africa. Lesotho has an ideal climate for low-cost greenhouse cannabis production. It averages over 300 days of sunshine annually. Lesotho was the first African nation to legalize medical cannabis in 2017.
The Company believes that by establishing a presence in Africa, it will extend its current business model and allow the Company to produce its own products to push through its unique and substantial European distribution networks and into its award-winning BioCanna ADM automated retail system.
Cannabis Medical Group SAS
Colombia has become a highly sought-after jurisdiction for cannabis cultivation activities as it has a world-leading combination of broad public and private sector acceptance, ideal growing conditions, and a massive addressable market.
CM Group previously acquired 13 hectares of optimal agricultural land located in Funza, the heart of the ‘Bogota Savanna’. It is conveniently located within a 20-kilometre drive to Bogota’s international airport. The lease on this land has been prepaid for a period of 10 years.
EU Cannabis Corp.
EU Cannabis holds a 90% working interest in industrial hemp licences held by Cannatec Greece A.E. (“Cannatech”). Cannatech currently holds three licences covering a total of 16 acres situated within the Greek prefecture of Imathia. These licences were granted to Cannatec by the Hellenic Republic Ministry of Agricultural Development and Food, and permit EU Cannabis to cultivate, manufacture, distribute and export industrial hemp and its many CBD derived extracts. Greece boasts over 300 days of unadulterated sunshine per year, resulting in attractive climate for outdoor industrial hemp cultivation.
The alignment of the Company’s existing distribution channels, revolutionary ADM retail system along with EU Cannabis’s robust extraction capabilities will assist in appeasing an expanding appetite for functional CBD products within the European Union.
Farmakem is a revenue-generating licensed medical cannabis company based in Slovenia. Its focus is on research and development (R&D), production, supply, distribution, and commercialization of active pharmaceutical ingredients, medical devices and food supplements within the medical cannabis/hemp industry.
Farmakem has obtained licences for the international wholesale, import and export of more than 150 APIs (including CBD and some narcotics and psychoactive substances), medical devices and food supplements. It is the first company in Slovenia to obtain approval to import medicinal cannabis and delta-9 tetrahydrocannabinol (THC) of natural origin.
Farmakem has a range of good manufacturing practice products with various novel delivery technologies for both the human and veterinary market currently for sale and in R&D stages. With a budget of $1.3-trillion in health care spending, European government-subsidized health care systems are set to become the largest single market for cannabis in the world as the liberalization of regulations in favour of plant-based medicine continue.
On behalf of the Board of Directors of Kaneh Bosm Biotechnology Inc.
THE CSE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.
This news release includes certain statements that may be deemed “forward-looking statements”. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “would”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak 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