#CSE Cannabis News: Benchmark Botanics (CSE: BBT) Announces Corporate Update
Vancouver, British Columbia - January 24, 2018 (Newsfile Corp.) (Investorideas.com Newswire) Benchmark Botanics Inc. (CSE: BBT) (the "Company" or "Benchmark") wishes to announce, at the request of IIROC, that the Company is unaware of any material change in the Company's operations that would account for the recent increase in market activity of the Company. The Company is continuing to pursue its business plan to commence cultivation of cannabis at its facility in Peachland, British Columbia, and to increase cultivation and production capacity through expansion of existing facilities and assessing other growth opportunities.
Benchmark's CEO, Johnson Zhang, commented, "We are excited about our opportunities for growth as we look forward to legalization of recreational use of marijuana this July, and appreciate the market's attention to our Company in this exciting new phase of our industry."
Benchmark, through its wholly-owned subsidiary Potanicals Green Growers Inc., is a licensed producer of medical cannabis under the Access to Cannabis for Medical Purposes Regulations ("ACMPR"). The Company operates a 12,700 square foot production facility in Peachland, British Columbia and is in the design stage of a Phase II expansion of an additional 50,000 square feet of growing area. The Company intends to utilize advanced cultivation methods in its cannabis facilities to address the significant opportunities in the medical marijuana market in Canada and overseas.
For more information about Benchmark, refer to the Form 2A Listing Statement available to the public under the Company's profile on SEDAR at www.sedar.com and the CSE website.
ON BEHALF OF THE BOARD OF
BENCHMARK BOTANICS INC.
/s/ "Ping (Johnson) Zhang"
Ping (Johnson) Zhang
Chief Executive Officer
For further information contact:
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this release.
This news release contains forward-looking statements pertaining to various risks and uncertainties regarding future events. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company 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. This news release includes forward-looking statements with respect to the business and future objectives of the Company. There are numerous risks and uncertainties that could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information, including related to: (i) the facility and Potanicals' operations; (ii) adverse market conditions; (iii) the ability of the Company to complete financings in the future; (iv) dependence on suppliers and skilled labour; (v) government regulation and compliance with the ACMPR; (vi) managing and maintaining growth; (vii) unfavourable publicity or consumer perception litigation; and (viii) competition. The Company is not currently producing medical marijuana. There is a risk that Potanicals' Producer's License will not be amended to permit the Company to sell medical marijuana produced at its facility. Actual results could differ materially from those currently anticipated due to a number of factors and risks including the risk factors discussed in this news release and in the Company's disclosure documents, which can be found under the Company's profile on www.sedar.com and on the CSE website. These statements speak only as of the date of this news release. Except as required by law, the Company does not intend to update these forward-looking statements.
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