Kaneh Bosm to Establish Distribution Footprint of 2,800 South African Pharmacies, Complimenting its Lesotho Cultivation
(firmenpresse) - Kaneh Bosm to Establish Distribution Footprint of 2,800 South African Pharmacies, Complimenting its Lesotho Cultivation
NOT FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, British Columbia, August 16, 2018 (GLOBE NEWSWIRE) -- Kaneh Bosm BioTechnolgy Inc. (CSE: KBB)(FWB: 8K51)(OTC: KNHBF)(Kaneh Bosm or the Company) is pleased to announce that it has entered into a definitive agreement (the Agreement) with Aricannabis BioTech Corp. (Aricannabis) to acquire 100% of AriCannabis issued and outstanding shares.
Aricannabis works on an exclusive basis with NuCare Health ("NuCare") to provide Cannabis products to over 2,800 independent and corporate pharmacies across South Africa. NuCare also provides their medical partners with the following:
- Access to innovative consumer products;
- Strategic partnerships with key suppliers;
- Management of channel pressure; and
- Educational and training resources.
Eugene Beukman Chief Executive Officer of Kaneh Bosm states, This agreement provides the Company with access to robust client partnerships.This is strategic and significant given Kaneh Bosms existing licence to cultivate, manufacture, supply, hold, import, export and transport cannabis and derivative products in the Kingdom of Lesotho, Africa. This acquisition reflects the Companys strategy to establish itself as the first vertically integrated pure cannabis play with a true international footprint.
The alignment of the Kaneh Bosms existing African cultivation capabilities and distribution channels, complemented by these new established marketing and distribution channels will augment the Companys African seed-to-sale objectives.
Under the terms of the Agreement, the Company will issue 2,000,000 common shares to the shareholders of Aricannabis.
On behalf of the Board of Directors of Kaneh Bosm Biotechnology Inc.
Michael Martinz
Michael Martinz
President, Director
mmartinz(at)kanehbosmbiotech.com
Kaneh Bosm BioTechnology Inc.
810 - 789 West Pender Street
Vancouver BC V6C 1H2
Tel: 604.687.2308
THE CSE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.
This news release includes certain statements that may be deemed forward-looking statements. The use of any of the words anticipate, continue, estimate, expect, may, will, would, project, should, believe and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak 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 Companys disclosure documents which can be found under the Companys profile on www.sedar.com
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Datum: 16.08.2018 - 09:09 Uhr
Sprache: Deutsch
News-ID 579633
Anzahl Zeichen: 3422
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Wien
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Business News
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