VANCOUVER, British Columbia, Oct. 9, 2019 /PRNewswire/ -- Pasha Brands Ltd. ("Pasha") (CSE: CRFT) (OTC: CRFTF) (FSE: ZZD), North America's largest craft cannabis brand house, is pleased to announce that its wholly owned subsidiary, BC Craft Supply Co. Ltd. ("BC Craft"), has signed a supply agreement with Waterloo, Ontario based Greenterra Cannabis ("Greenterra").
The founders of Greenterra, Adam and Drew Anger, 30 and 24, are two brothers and successful businessmen who saw a tremendous opportunity to get into legal cannabis with a minimal investment. They completed their application using Tamra Follett's do-it-yourself standard operating procedure kit, and will be cultivating cannabis in a greenhouse using hand-mixed soil and organic inputs.
Adam has owned several companies in the trucking and transportation industries and will be operating the business side of the greenhouse, while Drew, the owner of a marketing company, will be lead cultivator.
"Adam and Drew bring a youthfulness and excitement to their business that made signing a supply agreement with them so attractive to us," said Patrick Brauckmann, Executive Chair of Pasha Brands. "They truly represent what it means to be a family-oriented business in the cannabis industry and we're excited to get their product on the shelves of retailers across the country."
With Canada's current licensed cannabis producers only able to supply an estimated 15 percent of what Canadians are consuming, Pasha is optimistic that yet another new supply agreement will help correct the cannabis supply imbalance. Each micro cultivator in Canada will be allowed to produce approximately 500 kg of cannabis per year. Canada has tens of thousands of craft producers operating in the illicit cannabis market and BC Craft is focused on helping as many small farmers transition into the regulated market as possible.
"It's hard to believe that we're breaking into this industry and turning our hobby into a business," said Adam Anger. "We're really excited to partner with a company like BC Craft because we know that they prioritize not only craft cannabis but a sense of family the same way that we do."
About Pasha Brands
Based in Vancouver, British Columbia, Pasha is a vertically integrated, prohibition-era brand house firmly rooted in BC's craft cannabis industry, which boasts an international reputation. With proven capabilities in cannabis cultivation, genetic research and development, product processing, and retail, Pasha is uniquely positioned in the new legal cannabis market through its network of hundreds of craft cannabis suppliers under the Pasha umbrella.
Pasha subsidiary, Medcann Health Products Ltd., is a Health Canada licensed cultivator and processor with a licence to sell medical cannabis products in Canada.
Pasha and BC Craft are also developing a craft cannabis campus, which is dedicated to bringing craft quality into the newly legal cannabis market in Canada. BC Craft is driven to assist craft growers in obtaining security clearance and licensing to grow as micro-cultivators, specializing in education and compliance to bring growers into the regulated cannabis supply market.
Pasha's common shares trade on the CSE under the symbol "CRFT" and on the FSE under the symbol "ZZD".
For more information, please visit www.pashabrands.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management.
Cautionary Note Regarding Forward Looking Statements
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation, including statements with respect to the representation of Pasha Brands' products across Canada and the production of cannabis by Greenterra. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Pasha disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Media & Investor Relations Contact
Emerald Asuncion
communications@pashabrands.com
(236) 521-5135
Jamie Shaw, Chief Communications and Culture Officer
(236) 521-5136 (x427)
