Santa Ysabel Economic Development Corporation Engages Gunpowder Capital Corp.
Toronto, Ontario--(Newsfile Corp. - November 27, 2018) - Gunpowder Capital Corp. (CSE: GPC), (CSE: GPC.PR.A), (OTCQB: GNPWF), (FSE: YS6N), ("Gunpowder" or the "Corporation") announced today that the Santa Ysabel Economic Development Corporation ("Santa Ysabel EDC"), a federally chartered "Section 17" corporation wholly owned by the Iipay Nation of Santa Ysabel ("Tribe"), has retained Gunpowder to act as financial advisor to the Santa Ysabel EDC and to assist it in completing a proposed "go public" transaction of its affiliate corporation Back Country Property Management, LLC ("BCPM"), a limited liability company organized under the laws of the Tribe.
BCPM is a cannabis products management company located on Tribal land within the state of California. BCPM currently manages cannabis grow and production operations on an approximately eight-acre footprint, with development plans for expansion.
Upon BCPM successfully listing its common shares onto a Canadian-based stock exchange, Gunpowder will receive a fee of five percent (5%) of all outstanding common shares of BCPM at the time of listing.
Mr. Paul Haber, Chief Financial Officer of Gunpowder, stated: "We are extremely pleased to have been selected by the Santa Ysabel EDC to manage the next stage in BCPM's corporate development and growth. Being situated in California, the Santa Ysabel Tribe already has access to a huge market and we predict that the United Stated will eventually implement the legalization of cannabis nationwide. Should that happen, the Santa Ysabel EDC's market will grow tremendously. We like the fact that the Santa Ysabel EDC is already diverse, as it manages the growth and development of a wide array of cannabis and hemp based products maximizing its outreach to potential customers."
Mr. David Chelette, Vice Chairman of the Santa Ysabel EDC, stated: "The Back Country Property Management model is designed to allow for flexibility and growth in the dynamic cannabis market. Located on sovereign Tribal land, Back Country Property Management is a leader in the California tribal market and will have a huge business advantage in the larger, non-tribal market once cannabis is legalized on the federal level. Back Country Property Management looks forward to working with Gunpowder Capital to expand their business throughout Indian Country."
About Back Country Property Management.
Back Country Property Management is a limited liability company organized under Tribal law by the Santa Ysabel Tribal Development Corporation, a wholly owned Tribal corporation. BCPM is headquartered on the Tribe's reservation in Southern California. Following long-standing Native American traditions of healing with materials harvested from nature, BCPM is focused on developing and managing specialized cannabis-related businesses on Tribal land. The abundance of undeveloped Tribal land throughout California and the ideal growing conditions in the state create a perfect opportunity for a strong and competitive tribal cannabis market. BCPM currently manages an eight-acre complex located on Tribal land. This facility currently houses cultivation, manufacturing, research and development, and a green waste organic recycling project. In the coming months BCPM plans to nearly double the current working greenhouse cultivation space at the facility. In addition, the Company is launching a new line of edible products as well as increasing the number and variety of products produced at the facility.
About Gunpowder Capital Corp.
Gunpowder Capital Corp. is a merchant bank and advisory services firm based in Toronto, Ontario, Canada. Gunpowder invests in both publicly traded and private businesses that have successful management teams and attractive economic models. Gunpowder partners with these businesses to support their growth initiatives with its proven methodology of appropriate financing and structured exits. Gunpowder offers debt financing, including mezzanine and bridge loans, equity financing and advisory services. Gunpowder is also building a portfolio of companies in which it takes a long term position and view. For more information please visit www.gunpowdercapitalcorp.com.
For further information please contact:
Mr. Frank Kordy
CEO & Director
Gunpowder Capital Corp.
T: (647) 466-4037
Mr. Paul Haber
Gunpowder Capital Corp.
T: (416) 363-3833
Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Corporation 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 expressly required by applicable securities legislation. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such. Neither CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
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