CSE New Listing - Canadian Bioceutical Commences Trading on the Canadian Securities Exchange - Video News Alert on InvestmentPitch.com

January 31, 2017 11:31 AM EST | Source: InvestmentPitch Media

Vancouver, British Columbia--(Newsfile Corp. - January 31, 2017) - The Canadian Bioceutical Corporation (CSE: BCC) (OTC: CBICF) is the latest new listing on the Canadian Securities Exchange, and trades under the symbol "BCC", having transferred its listing from the TSX Venture Exchange. The company recently announced that, together with its wholly owned subsidiary CGX Life Sciences, a Nevada incorporated entity, it has completed the acquisition of a group of companies active in the Arizona market for medical cannabis.

InvestmentPitch Media has produced a "video news alert" which provides a brief overview of the company. If this link is not enabled, please visit www.InvestmentPitch.com and enter "Canadian Bioceutical" in the search box. The video is also available for viewing on YouTube. (click here)



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Located in Ontario, Canadian Bioceutical through its wholly owned subsidiaries in the U.S. provides a full range of services including management, staffing, financial and administrative services to two medicinal cannabis enterprises in Arizona. Under the terms of the management agreement, CGX will support two existing brands in Arizona.

Under the Health for Life ("H4L") brand, two licensed dispensaries operate in the Mesa area, selling dried flower and derivative cannabis product to authorized patients. Additionally, the company supports the Melting Point Extracts ("MPX") brand, which is focused predominantly on the sale of derivative cannabis products, such as oils, through its dispensaries and through its wholesale business to other Arizona dispensaries.

As part of the acquisition, the company acquired an option to purchases a controlling interest in GreenMart of Nevada, for US$9 million. GreenMart is a cultivation and wholesale business located in Las Vegas, with a production capacity of approximately 1.6 million grams of dried flower and 85,000 grams of concentrate per year.

Concurrent with this acquisition, the company completed a private placement for gross proceeds of US$27 million, facilitated by London based Chrystal Capital Partners (www.chrystalcapital.com)

Scott Boyes, President and CEO, stated: "This transaction, we believe, makes us the most profitable cannabis company listed in Canada. More than that, it creates a platform for growth in a number of very attractive U.S. markets, which are forecast to reach US$22 billion by 2020. To create further shareholder value, we are pursuing a two-tier strategy. Firstly, we are expanding the production capacity of our Arizona operations, and will leverage the performance and strength of our brands to drive continued organic growth. We will support this growth through expanded production capacity, as well as the use of innovative technology. Secondly, we will pursue attractively priced acquisition opportunities throughout the U.S. Many operations in the U.S., though profitable, are small and undercapitalized and require a financially strong partner to pursue further growth. The strength of our balance sheet, with growing cash flow positive operations, and our proven access to capital, create the financial fire power required to implement this strategy."

The company also leases a property in Owen Sound, Ontario, for which an application to Health Canada has been made for a cannabis production and sales license.

The shares are trading at $1.00, and with 224 million shares outstanding, the company is capitalized at $224 million.

For more information about the company, please visit the company's website www.canadianbioceutical.com, contact Scott Boyes, President and CEO, at 416-840-3725 or by email info@canadianbioceutical.com.

Investor relations is handled by Marc Lakmaaker of NATIONAL Equicom, who can be reached at 416-848-1397 or by email at mlakmaaker@national.ca.

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