Highmark Marketing Inc. (CSE:HMK) (“Highmark”) is pleased to announce that it has entered into a binding letter of intent (the “Letter”) with BCBUD Producers Inc. (“BCBUD”) to acquire 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the authorized share capital of BCBUD (the “Acquisition”) from BCBUD’s shareholder, Blue Moon Advertising Inc. (“Blue Moon”).
BCBUD has prepared an application to become a licensed producer (“LP”) of marijuana and has informed Highmark that it is ready to file the application (the “Application”) under the Marijuana for Medical Purposes Regulations (“MMPR”). Highmark will cover BCBUD’s business costs relating to the Application up to a maximum of $100,000.
Highmark Marketing Inc. (CSE:HMK) (“Highmark”) is pleased to announce that it has entered into a binding letter of intent (the “Letter”) with BCBUD Producers Inc. (“BCBUD”) to acquire 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the authorized share capital of BCBUD (the “Acquisition”) from BCBUD’s shareholder, Blue Moon Advertising Inc. (“Blue Moon”).
BCBUD has prepared an application to become a licensed producer (“LP”) of marijuana and has informed Highmark that it is ready to file the application (the “Application”) under the Marijuana for Medical Purposes Regulations (“MMPR”). Highmark will cover BCBUD’s business costs relating to the Application up to a maximum of $100,000.
BCBUD has an option to lease a 27,000 square foot building in the Township of Langley, British Columbia. The property is zoned M-2, and when the facility is operational it could be capable of producing up to 2,000,000 grams (4409 pounds) of medical marijuana per year with the additional possibility of expansion adjacent to the site.
BCBUD cannot legally become a producer under the MMPR Act until it has been granted a license, and it is currently not known if and when BCBUD will obtain that license. The key milestones to obtaining a LP license include filing an application, receiving a “Ready to Build” notice, completion of the upgrades as per the application, approval to produce upon inspection of the facility, and finally approval to distribute the product to patients. Bill Marshall, President of BCBUD, has gained extensive experience with MMPR applications while working with one of the most prolific consultants to prospective licensed producers. As the Senior Person in Charge he will be responsible for advancing the application in a timely fashion, and will have the support of the Highmark team during this process. Highmark has agreed to issue 250,000 Common Shares of Highmark to Blue Moon at the time the Application has been filed by BCBUD with Health Canada.
Once the “Ready-to-Build” notice has been received from Health Canada, Highmark will have 3 months to complete the Acquisition by issuing 2,250,000 Common Shares of Highmark to Blue Moon (the “Acquisition Shares”). If Highmark completes the Acquisition, it has committed to funding another $1,500,000 for upgrading the security, electrical, plumbing, ventilation and other improvements as per the application. At the point of receiving the “Ready to Build” notice Highmark intends to seek an equity financing in the amount of $1,500,000 to meet its obligations. In the event that a license to produce marijuana is not received within 18 months, the Acquisition Shares may be subject to cancelation.
About Highmark
Highmark is a nutraceutical company, based in British Columbia, focused on bringing the health benefits of natural and herbal remedies to the market. Highmark intends to acquire, license, distribute, and market products in the nutraceutical industry.
Further information about Highmark is available under its profile on the SEDAR websitewww.sedar.com and on Highmark’s page on the CSE website.
The CSE has not reviewed, nor approved or disapproved the content of this press release.
Forward-Looking Information:
This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of Highmark. Forward-looking information is based on certain key expectations and assumptions made by the management of Highmark, including future plans for acquisitions. Although Highmark believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Highmark can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. Highmark disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in the United States. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, or any applicable securities laws or any state of the United States and may not be offered or sold in the United States or to the account or benefit of a person in the United States absent an exemption from the registration requirements.
Highmark Marketing Inc.
Marc Branson
Chief Executive Officer
604.283.1722
info@highmarkcorp.ca