VANCOUVER, British Columbia, July 26, 2018 (GLOBE NEWSWIRE) — BlissCo Cannabis Corp. (CSE:BLIS) (FRA:GQ4B), (“BlissCo”) or the (“Company”) is pleased to announce that it has completed a Good Manufacturing Practices (GMP) Gap Assessment.
This Gap Assessment brings BlissCo one step closer to earning its Eudralex GMP certification that will allow the company to export to European markets, including the German market, once the Company has also earned its sales license. It is estimated that demand for medical marijuana in Germany could ultimately reach 126,000 kg per year.
“Currently there are eight Canadian ACMPR Licensed Producers with licensed facilities that are GMP certified through the Eudralex European regulatory body. Based on the positive feedback we received at the completion of our two day GMP Gap Assessment, we are confident that BlissCo will earn our European GMP certification in Q4 2018,” said BlissCo CEO Damian Kettlewell. “Once we earn our European GMP certification and an amendment to our ACMPR license to sell, which is under active review by Health Canada, our German distribution partner will be able to apply for an import certificate which will enable us to export cannabis to fulfil the 720 kg supply agreement to Germany that we announced in June 2018.”
Germany is expected to rely on imports to meet 100% of the country’s medical cannabis demand until at least 2020.
“BlissCo has a state of the art ACMPR facility and our GMP Gap Assessment team was impressed with BlissCo’s cultivation and operational setup. We feel that their facility has the potential to be one of the first 12 GMP certified facilities in Canada,” says Deepak Anand, VP of Business Development for Cannabis Compliance Inc.
It is estimated that the international medical cannabis market could reach $100 billion in annual retail value in the next 5-10 years.
“Earning our European GMP certification and sales license amendment will enable BlissCo to service patients in Canada and medical distribution partners in Europe as we expand the BlissCo Ecosystem. Fulfilling agreements within the German market can also serve as a stepping stone to the rest of the European markets when and where medical cannabis is legal,” said BlissCo CEO Damian Kettlewell.
About BlissCo Cannabis Corp.
BlissCo Cannabis Corp. (CSE:BLIS) (FRA:GQ4B) is an ACMPR licensed producer and future distributor of ultra-premium cannabis. The company sits at the heart of an international ecosystem and is focused on the success of its domestic and global partnerships.
BlissCo leverages the latest technology and is continuously developing its network of top-tier industry experts to drive the success of its brand and channels, moving premium Canadian cannabis to local and international markets.
BlissCo is backed by an experienced team that is deeply in tune and integrated with industry partners and BlissCo’s future patients and customers.
Learn more: BlissCo.com
On Behalf of the Board of Directors
BLISSCO CANNABIS CORP.
Damian Kettlewell, CEO, Founder & Chair
For further information please contact:
Christina Rao, Investor Relations
1-604-723-7480
Christina.Rao@blissco.com
Cautionary Statement
This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). The use of any of the word “will” and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such forward-looking statements should not be unduly relied upon. This news release contains forward-looking statements and assumptions pertaining to the following: the ability to execute on our strategic plans and the impact on our future operations, capital expenditures, receipt of a cannabis oil license and a license to sell dried cannabis and other objectives. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. The Company does not undertake to update these forward-looking statements, except as required by law.
The CSE has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
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