Article by Financial Post
BC Craft Supply Co. Ltd. (the “Company” or “BC Craft”) (CSE: CRFT) (FSE:ZZD1) is pleased to announce its first purchase of premium artisanal organic cannabis. BC Craft has purchased 29kg of BC Original Glue, which is pure organic, hand-trimmed, dried flower produced by Coast Mountain Cannabis (“CMC”). The flower will be packaged in beautiful 3.5 gram jars and in premium pre-rolls. BC Craft partnered with Indiva Limited (“Indiva”) under a master processing agreement (“MPA”) that was announced on May 13, 2020, to facilitate the processing and sales of premium cannabis procured through BC Craft’s vast network of artisanal craft cultivators. Under the MPA, Indiva brings state of the art processing, sales, and national distribution, which will allow micro and small scale cultivators access to the national recreational market and greater visibility for their brand and quality craft product.
BC Craft offers preferential payment terms for flower, with a 50% deposit and 50% payment within 30 days, thus allowing the Company to partner with premium small scale craft cultivators nationwide. BC Craft’s CEO, Matthew Watters stated, “Many of our suppliers have faced significant challenges when entering the regulated market. We chose these terms because while it is reasonable and advantageous for the Company, it also helps the cultivator. Most small batch cultivators are family run businesses and at BC Craft we believe that they deserve to be paid on time and at a fair price.”
CMC is a licensed boutique indoor cultivation facility located in Pemberton, B.C. nestled in the heart of the British Columbia’s Coast Mountain range. CMC’s team takes great pride in producing high quality organic cannabis which is reflected in their latest test results. CMC’s founders have deep roots in the Sea-to-Sky corridor; they came together with a shared vision and mission to build a leading edge facility, which respects the traditions of the industry and grows the best organic cannabis. At CMC, innovation and sustainability are at the heart of what they do. As champions of their community and the surrounding environment, they pride themselves on being a craft, ultra-premium producer, employing the best talent in the industry, and delivering a superior product and experience to their customers.
Matthew Watters, CEO further stated, “This is a pivotal moment in BC Craft’s vision and mandate to bring the highest quality artisanal cannabis into the legal market and serves to validate the Company’s long term business model.”
ABOUT BC CRAFT SUPPLY CO.
Based in Vancouver, British Columbia, BC Craft Supply Co. has aggregated the best legacy-era talent from Canada’s craft cannabis industry, which boasts an international reputation. The team at BC Craft supports the most talented cannabis cultivators in Canada to transition into their supply chain, bringing with them their unique cultivars and years of experience with the plant. In exchange for support with licensing, compliance and distribution, cultivators will sign on as a BC Craft supplier. This makes BC Craft uniquely positioned to be the premium cannabis brand in Canada.
BC Craft’s subsidiary, Medcann Health Products Ltd., is a Health Canada licensed cultivator and processor with a license to sell medical cannabis products in Canada.
Matthew Watters, Director
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This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. 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.