Blueberries Medical Corp. (CSE: BBM) (OTCQB: BBRRF) (FRA: 1OA)
("
Blueberries"), a leading Latin American licensed
producer of medicinal cannabis and cannabis-derived products and
SLANG Worldwide Inc. (CSE: SLNG), (Frankfurt: 84S),
(“
SLANG”) a leading global cannabis consumer
packaged goods (“
CPG”) company with a robust
portfolio of renowned brands are pleased to announce that the
companies have entered into a memorandum of understanding
(“
MOU”) dated June 10, 2019 to develop a strategic
partnership (“
Strategic Partnership”) through
which Blueberries may license SLANG’s extensive portfolio of
renowned cannabis brands and leverage SLANG’s industry leading
know-how and intellectual property to process and formulate
cannabis products in Colombia and Argentina. The MOU was negotiated
at arm's length.
Blueberries and SLANG will also collaborate on
the commercialization of products into other Latin American
countries as regulatory framework is implemented. Latin America is
among the world's fastest-growing cannabis markets with expected
cannabis spending of $12-billion (U.S.) by 2028 (Prohibition
Partners) and an estimated 68 million potential medical cannabis
patients currently (Quintiles IMS).
“SLANG is a global leader in the cannabis-based
consumer packaged goods industry, with an extensive portfolio of
brands, including some of the best-selling cannabis products in the
world. Offering these high quality and internationally recognized
brands will assist Blueberries in leveraging early-mover advantage
and capturing market share in the vast Latin American market,”
stated Patricio Stocker, Chief Executive Officer of Blueberries.
“SLANG’s industry leading experience, depth of expertise and
expansive network will create additional value for Blueberries as
we continue to offer high quality proprietary products to consumers
across diverse markets in Latin America and globally, and position
Blueberries as a leader in this new market segment as it continues
to evolve.”
The strategic partnership will include:
- The exclusive license to Blueberries of select SLANG propriety
standard operating procedures (“SOPs”) pertaining
to medical cannabis and cannabis-derived products in Colombia and
Argentina
- An exclusive right of first refusal to sell and distribute
select SLANG products in Colombia and Argentina
- Collaboration on new and existing products
- On-site consulting services to facilitate the integration of
the SOPs at Blueberries' manufacturing facilities
“SLANG is continuing to seek opportunities to
increase its global distribution footprint for our industry leading
portfolio of CPG brands. This partnership represents the jumpstart
of our expansion in the rapidly growing Latin American market,”
said Peter Miller, CEO of SLANG. “Blueberries’ unique
industry expertise and CPG experience makes them the ideal partner
for SLANG as we begin to extend our products beyond North
America.”
About SLANGSLANG is a leading
global cannabis consumer packaged goods company with a robust
portfolio of renowned brands distributed across 2,600 stores in 11
states in the US. SLANG is focused on acquiring and developing
market-proven regional brands as well as creating new brands to
meet the needs of cannabis consumers worldwide. SLANG is listed on
the Canadian Securities Exchange under the ticker symbol SLNG and
on the Frankfurt Stock Exchange under the trading symbol 84S. For
more information, please visit www.slangww.com.
About Blueberries Medical
Corp.Blueberries 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 Tel:
+57.313.483.0131 Email: cvillalba@blueberriesmed.com
Jessika Angarita, Pacta Relations
angarita@pactarelations.com Tel: +1 (305) 877 4710
Cautionary Note Regarding
Forward-Looking InformationThis 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 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: the entering into of the
Definitive Agreements on the terms set out herein or at all,
internal expectations regarding the ability of the Company to
successfully utilize SLANG's industry know-how and intellectual
property, the ability to attract and retain new customers, and
future expansion plans including development of the cultivation,
production, industrialization and marketing of cannabis and
cannabis-derived products.
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.
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