Vancouver, British Columbia--(Newsfile Corp. - July 13, 2018) - BlissCo Cannabis (CSE: BLIS) (FSE: GQ4B) has signed an agreement with Stratford, Ontario-based GreenSeal Cannabis Company, to purchase 1,700 kilos of dried cannabis and 340 kilos of trim in the first two years of the agreement. The agreement has two renewable one-year options.
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BlissCo, upon earning amendments to its Access to Cannabis for Medical Purposes Regulations license to allow for the sale of cannabis, will be able to process and package GreenSeal cannabis as BlissCo branded dried cannabis, cannabis oil or pre-rolls for the medical market, as well as to adult recreational customers after October 17, 2018, and to export medical cannabis to other countries where medical cannabis is federally legal. In addition, BlissCo can use GreenSeal cannabis to process and package concentrate pens and cannabis edibles when concentrates and edibles are regulated for sale.
Damian Kettlewell, CEO, stated: "A key aspect of the development of the BlissCo Ecosystem is building strong industry relationships. We have built a strong relationship with GreenSeal over the last 15 months and are pleased to announce our long-term partnership to purchase premium bulk cannabis for sale to our medical patients or into the adult use market. The unique base price and profit sharing supply agreement will help BlissCo and GreenSeal mutually benefit and build strong ties that benefit both companies."
Corey Hamilton, President of GreenSeal Cannabis Company, stated: "We are thrilled to have solidified our relationship with BlissCo through this unique agreement and feel this collaborative model demonstrates the innovative professionals now occupying this space. With BlissCo's reach domestically and internationally, we feel this opens up exciting new opportunities for GreenSeal to provide Canadian-grown products to an evolving marketplace full of potential. We are confident that this is only the beginning of a long and prosperous relationship in which GreenSeal consistently provides Damian and his outstanding team with some of the finest cannabis products, genetics and expertise Canada has to offer."
BlissCo will be processing and distributing cannabis purchased from multiple supply agreements and from cannabis grown at its own state-of-the-art 12,600 square foot industrial facility in Metro Vancouver, B.C.
Currently, BlissCo has a two-year supply agreement with The Supreme Cannabis Company Inc to purchase 3,000 kilograms of premium whole dried cannabis flower.
According to research published by Ameri Research Inc., the global legal cannabis market was valued at US$14.3 billion in 2016 and is forecast to reach a value of US$63.5 billion in global sales in 2024.
For more information, please visit the company's website at www.blissco.com, contact Christina Rao, Investor Relations, at 604-723-7480 or email Christina.Rao@blissco.com.
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