Marijuana Brief: BlissCo Officially Licensed to Cultivate and Distribute Cannabis in Canada
BlissCo Cannabis Corp (CSE: BLIS) recently announced that its wholly-owned subsidiary BlissCo Holdings Limited just received a licence from the Canadian regulatory agency responsible for public health, Health Canada, to cultivate and prepare dried cannabis. BlissCo received the ACMPR License (Short for Access to Cannabis for Medical Purposes Regulations) last Thursday, March 29th 2018.
"Earning our ACMPR Licence to cultivate cannabis plants from Health Canada represents a significant milestone that the Company has been working towards for four and a half years," said the Company's Chief Executive Officer and Chair, Damian Kettlewell.
"Our ACMPR licence to cultivate allows us to execute on our strategic plan to build a distribution, brand and extraction focused cannabis company. We can now apply to expand our license to include cannabis oil production. At the appropriate time we will apply for a license to sell both dried cannabis and cannabis oil, from our own production and with premium dried cannabis sourced from our supply agreement. Considering our two-year supply agreement with The Supreme Cannabis Company Inc., (TSX.V: FIRE) for 3,000 kilograms of premium cannabis through June 2020, BlissCo is well positioned to generate revenue, subject to earning a license to sell.
We are grateful for the diligent and mindful work of our regulator and the steadfast support of our many industry partners and shareholders. BlissCo is excited to build an iconic Canadian cannabis brand from our base in Vancouver, B.C."
BlissCo has a supply agreement with The Supreme Cannabis Company to purchase BlissCo’s premium dried cannabis over the next two years.
BlissCo’s ACMPR-licensed facility in Langley, British Columbia is set up as a high volume facility to produce, package, and distribute medical and adult use cannabis throughout Canada when it is eventually legal in Canada, which Bliss expects to be no earlier than August of this year. The company plans to expand its cannabis production license to oil in the second quarter of 2018 and will apply for its cannabis sales license at the appropriate time.