Benchmark Botanics Strengthens Management Team with Appointment of Agriculture Industry Expert
Vancouver, British Columbia--(Newsfile Corp. - January 28, 2019) - Benchmark Botanics, Inc. (CSE: BBT) ("Benchmark" or the "Company") is pleased to announce the addition of a well-respected agriculture industry leader Mr. Hua Zhang PhD to the Benchmark team as Vice President of Production. Mr. Zhang will provide operational expertise overseeing overall production strategies and planning as the Company continues to expand and ensure the highest quality cannabis products are produced at its Peachland Cannabis Complex and the Pitt Meadows Greenhouse Operations.
"The addition of Hua further strengthens our team and we look forward to working with this well-known industry leader,'' said William Ying CEO, Benchmark Botanics. "Professionalism and quality are central to bringing the best products to market, we welcome his expertise as we continue to grow our business around the country and into international markets."
Mr. Zhang has a long and extensive history of agricultural growing and production experience. Most recently he was Head Grower and Director of Production for Hortalizas Argaman in Jalisco Mexico where he oversaw the 135-acre farm including cucumber and tomato greenhouse production. Prior to Hortalizas Agraman, Mr. Zhang worked in Canada for 18 years which included being the Head Grower for Amoco Farms and Enns Plant Farms. He managed year-round production planning, climate and irrigation controls, labour budgeting, developing and implementing IPM strategy, personnel training and development. In 1997, he graduated with a PhD in Horticulture from Kansas State University.
Mr. Hua Zhang stated, "I'm excited about working with Benchmark Botanics and leading the Company's production in this growing and vibrant industry. Growing is my passion and I am particularly enthralled with the cannabis industry. I'm looking forward to this opportunity to make Benchmark Botanics a world leader in the cannabis industry."
The addition of Mr. Zhang is the latest example of Benchmark Botanics' strategy for building and working with the best talent in the industry. Coupled with our licensed production facilities, a rapidly expanding international medical cannabis business, and growing medical cannabis research, the Company is uniquely positioned to realize the opportunity presented by the advancement of cannabis legislation in Canada and increasingly around the world.
Benchmark on January 24, 2019 granted 450,000 stock options to Mr. Zhang and 600,000 stock options to Hon. James Moore, Benchmark's board of director announced in a news release on January 9, 2019. These options are exercisable at C$0.45 per share expiring in 5 years and vesting over a 2-year period in accordance with the terms of Benchmark's Stock Option Plan and subject to regulatory approval.
About Benchmark Botanics Inc.
Benchmark Botanics is a diversified multi-licensed cannabis producer focused on a three-way vertical business model targeting the medical, pharmaceutical, and recreational markets in Canada and the EU. The Company's business plan also includes a strategy to become a Canadian licensed producer to pioneer selling medical cannabis and hemp in China and throughout Asia.
Benchmark Botanics is focused on producing the highest-quality, indoor-grown cannabis for patients and adult recreational consumers, as well as developing international business partnerships to extend the Company's global footprint.
Benchmark Botanics' 100% owned subsidiary, Potanicals Green Growers Inc. is a Health Canada licensed producer under the Cannabis Act and its regulations (formerly ACMPR). The Company is producing at its indoor Peachland Cannabis Complex and is in the design stage for a Phase II expansion of an additional 50,000 square foot facility there. Along with cultivation and production, the company's Peachland BC facility also provides propagation, cultivation, cloning, storage, research and development, genetics and is progressing towards CBD oil extraction and an EU-GMP certification.
As part of its expansion strategy the company is building its second facility, a 4-acre Pitt Meadows Greenhouse Operations in BC.
The Company has established several European Union partnerships including the rights to "The Bulldog" trademark in Canada.The Bulldog trademark has a long-established successful history as one of the most well-known cannabis cafe brands in Amsterdam and around the world. Benchmark Botanics has also entered into an agreement with Barcelona, Spain-based Green BCN Corp. ("BBG Projects") for the development and production of new strains of cannabis plant and their propagating material for future sale and distribution. Benchmark Botanics has also established German commercial partnership to potentially export the Company's products into the EU markets.
ON BEHALF OF THE BOARD OF
BENCHMARK BOTANICS INC.
/s/ "William Ying"
Chief Executive Officer
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this release.
FORWARD LOOKING INFORMATION
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information. More particularly and without limitation, the news release contains forward-looking statements and information relating to Company's corporate strategy. The forward-looking statements and information are based on certain key expectations and assumptions made by management of the Company, including, without limitation, the Company's ability to carry out its business plan. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information since no assurance can be given that they will prove to be correct.
Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward-looking statements and information address future events and conditions, by their very nature they involve risks and uncertainties. Actual results could differ materially from those currently anticipated due to several factors and risks. These include, but are not limited to, the Company's ability to identify and complete additional suitable acquisitions to further the Company's growth as well as risks associated with the medical marijuana industry in general, such as operational risks in development and production delays or changes in plans with respect to development projects or capital expenditures; the uncertainty of the capital markets; the uncertainty of receiving the required licenses, production, costs and expenses; health, safety and environmental risks; marketing and transportation; loss of markets; environmental risks; competition; incorrect assessment of the value of the potential market; ability to access sufficient capital from internal and external sources; failure to obtain required regulatory and other approvals and changes in legislation, including but not limited to tax laws and regulated regulations. Accordingly, readers should not place undue reliance on the forward-looking statements, timelines and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive.
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