CanadaBis Capital Inc. announced that its 100% owned subsidiary, 1998643 AB LTD. (Stigma Grow) has secured its federal licence to cultivate and process from Health Canada under the Cannabis Act, and can now sell their expanding lineup of first-to-market hydrocarbon cannabis concentrates directly from its 66,000 square foot cultivation facility in Red Deer, Alberta.
Securing their sales licence for concentrates represents the final step in achieving their vision as a well-positioned, multi-pillared cannabis company with the ability to facilitate all aspects of cannabis concentrate production from cultivation to processing, packaging and shipment.
“We are thrilled to finally be in control of our own destiny,” said Travis McIntyre, CEO of CanadaBis Capital Inc. “For the past few months, we have relied on our third-party partners to provide a path to market and a house within which we could thrive at a crucial time in our evolution. To that end, we are eternally grateful to CannMart Inc and Namaste Technologies for their assistance when we needed it most! We look forward to continuing this rare and valued relationship in a variety of ways across our multiple pillars of business.”
The Company’s CIDI Lab houses one of the only hydrocarbon extraction processing setups in Canada, positioning them to bring difficult-to-produce products to market on a mass scale. Equipped with both expertise, market demand and third-party processing abilities, Stigma Grow is quickly becoming the go-to for a wide range of new, exciting and potent products.
“We’re just getting started,” said Travis. “Our vision as a company has always been to provide our community with what is in-demand, and it’s nice that our licencing finally aligns with our capabilities.”
As CanadaBis continues to evolve, they are pleased to report that Shane Chana, CPA, CA has been appointed as Interim Chief Financial Officer. Mr. Chana was elected a director of CanadaBis in January 2020 and has served as the Chief Financial Officer of Centerfire Energy Group since 2016, which is an oilfield service group located in Fort McMurray, Alberta. Prior to this, he worked at MNP LLP, a Canadian national public accounting firm from 2009 to 2016 as a Senior Manager. Mr. Chana holds a Bachelor of Commerce degree from the University of Northern British Columbia and obtained his Chartered Accounting designation in 2012.
For more information, access the Company’s investor presentation and recently updated strategic direction at their website: www.CanadaBis.com
CanadaBis Capital Inc. is a vertically integrated Canadian cannabis company focused on achieving large-scale growth in the fast-emerging global cannabis market. By targeting organic growth opportunities alongside the right-fit partners, we remain focused on finding and capitalizing on chances to grow, diversify and continue to lead our industry.