Beleave Enters LOI with Dutchman's Gold to Partner on Cannabis Infused Honey Products
Toronto, Ontario--(Newsfile Corp. - March 3, 2020) - Beleave Inc. (CSE: BE) (OTC: BLEVF) ("Beleave" or the "Company"), a licensed producer of cannabis and cannabis-derived products, announces that it has entered into a non-binding Letter of Intent ("LOI") with Dutchman's Gold, on March 2, 2020, to partner on the production and distribution of cannabis-infused natural honey and maple syrup products under the Sticky Icky and Dutchman's Gold brands for the Cannabis 2.0 Canadian market.
"The evolution of Dutchman's Gold and Sticky Icky brand portfolios has been in the works for quite some time, and our team is looking forward to working with them to develop these new product formulations for evolving consumer preferences," says Kevin Keagan, Beleave CEO. "It's been great working with everyone at Shaxon Enterprises, who helped facilitate this partnership, as they've been instrumental in bringing numerous opportunities to launch Cannabis 2.0 products for the Canadian marketplace."
- Dutchman's Gold will use Beleave's extracts, edibles, and topicals license to sell their manufactured edibles through Beleave's distribution agreements;
- Beleave will manufacture, package, label, and ship to approved provincial distributors;
- Dutchman's Gold will provide all of the required honey ingredients for product formulation.
Dutchman's Gold is a Canadian producer of honey products with almost four decades of experience perfecting the craft of delivering unpasteurized, award winning natural honey for consumers. Launched in 1981, the Van Alten family started Dutchman's Gold locally, selling bottled honey off the front porch of the family home and in local farmer's markets. Today, Dutchman's offers dozens of honey and bee products globally from their two facilities in Ontario, Canada and employs dozens from the local community, while ensuring the health and sustainability of Canadian bees and beekeepers.
To complete the transaction, both Beleave and Dutchman's will seek the approval of their respective Board of Directors in the coming weeks. Beleave looks forward to providing further updates to the market as the transaction is finalized and other developments occur.
Private Placement Offering
The Company would also like to announce a non-brokered private placement of up to CAD $500,000 being offered to the public at a 20 Day VWAP. Each unit is comprised of one common share of the Company and one common share purchase warrant of the Company. This entitles the holder to purchase one common share of the Company at an exercise price of CAD $0.05 following a four-month hold and expiring 24 months following the closing date. The net proceeds of the Private Placement will be used by Beleave for general corporate purposes and capital expenditures.
Please contact Don Shaxon at (289) 697-8625 for more information.
About Beleave Inc.
Beleave is an ISO certified, Canadian cannabis company headquartered in the Greater Toronto Area that cultivates high-quality cannabis flower, oil and extracts for medical and recreational markets. Beleave is fully licenced to cultivate and sell medical and recreational cannabis and is leading the way through research partnerships with universities to develop pharma-grade extracts and derivatives.
Beleave is developing new product lines, including cannabis-infused products, oils, vape pens, and other novel cannabis delivery methods for 2020. Beleave has developed a network of medical cannabis clinics in Ontario and Quebec under the Medi-Green banner.
Investor Relations Contact:
Chief Executive Officer
Phone: 1 (647) 449 - 7352
This news release contains "forward-looking information" within the meaning of applicable securities law ("forward-looking statements"). The use of any of the words "plan", "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and other similar words, or statements that certain events or conditions "may" or "will" occur are intended to identify forward-looking information. These statements are only predictions. Although the Company believes that the expectations and assumptions on which the forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Since forward-looking information addresses future events and conditions, by its very nature it involves inherent risks and uncertainties. This information speaks only as of the date of this news release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents, which can be found under the Company's profile on www.sedar.com.
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