Blueberries Medical Receives Approval for Commercial Production
& Registration of Five Proprietary CBD Cultivars from the Colombian Institute of Agriculture
TORONTO, Sept. 27, 2019 (GLOBE NEWSWIRE) -- Blueberries Medical Corp. (CSE: BBM) (OTC: BBRRF) (FRA: 1OA) (the “Company” or "Blueberries"), a Latin American licensed producer of medicinal cannabis and cannabis-derived products, is pleased to announce that the Company has received approval from the Colombian Institute of Agriculture (“ICA”) for the registration of five proprietary non-psychoactive cannabidiol (CBD) strains with the national cultivar registry and to commence commercial production of these strains.
The registration and approval to commence commercial production is amongst the first to be issued in Colombia and a major milestone for the Company. Blueberries has now completed all regulatory requirements to commence commercial cultivation and sales in Colombia and export to international markets. The Company will immediately commence cultivation of standardized medicinal-grade cannabis for oil extract.
“The registration of these first CBD-dominant strains is a landmark achievement for Blueberries and allows us to commence commercial production and revenue generation,” stated Dr. Patricio Stocker, Chief Executive Officer. “Being one of the first companies to be granted commercial production in Colombia is a testament to the quality of our team and operations and further positions us as a leading Latin American licensed producer of medicinal cannabis.”
“The Blueberries team has done an outstanding job, working diligently with the ICA during the intricate and lengthy review process to complete the field trials, rigorous data collection and analysis required to receive approval for commercial registration,” stated Camilo Villalba, Chief Operating Officer. “The approval of our proprietary strains by the ICA is further demonstration of the extensive agricultural, biological and genetic expertise of our scientific and medical teams.”
Blueberries is starting the process of agronomic evaluation of an additional 10 strains and expects soon to submit its second lot of strains for approval. Currently Blueberries has a total of 142 proprietary registered strains available for review and potential approval by ICA.
About the Colombian Institute of Agriculture
The ICA is the government entity in charge of the prevention, surveillance, and control of sanitary, biological and chemical risks in the agricultural, fisheries, and aquaculture sector. Its mission is to protect the health of people, animals, and plants and ensure high-quality trade conditions.
About Blueberries Medical Corp.
Blueberries Medical is a Latin American licensed producer of naturally grown premium quality cannabis with its primary operations ideally located in the Bogotá Savannah of central Colombia and operations currently being established in Argentina. The Company is led by a specialized team with proprietary expertise in agriculture, genetics, extraction, medicine, pharmacology and marketing, Blueberries is fully licensed for the cultivation, production, domestic distribution, and international export of CBD and THC-based medical cannabis in Colombia. Blueberries’ combination of leading scientific expertise, agricultural advantages and distribution arrangements has positioned the Company to become a leading international supplier of naturally grown, processed, and standardized medicinal-grade cannabis oil extracts and related products.
Additional information about the Company is available at www.blueberriesmed.com. For more information, please contact:
Camilo Villalba, Chief Operating Officer
Jessika Angarita, Pacta Relations
Tel: +1 (305) 877 4710
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward looking statements relate, among other things, to achieving milestones in 2019 as contemplated, or at all, ability to expand distribution networks, ability to expand and upgrade the Company’s cultivation facilities in Colombia, internal expectations, expectations regarding the ability of the Company to access new Latin American and international markets, the ability to attract and retain new customers, and future expansion plans including development of the cultivation, production, industrialization and marketing of cannabis for commercial and scientific purposes.
These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: fluctuations in general macroeconomic conditions; fluctuations in securities markets; expectations regarding the size of the Colombian and international medical cannabis market and changing consumer habits; the ability of the Company to successfully achieve its business objectives; plans for expansion; political and social uncertainties; inability to obtain adequate insurance to cover risks and hazards; and the presence of laws and regulations that may impose restrictions on cultivation, production, distribution and sale of cannabis and cannabis related products in Colombia, Argentina and elsewhere; and employee relations. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
Additional information regarding the Company, and other risks and uncertainties relating to the Company's business are contained under the heading "Risk Factors" in the Company's Listing Statement dated January 31, 2019 filed on its issuer profile on SEDAR at www.sedar.com.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.