00:05:57 EDT Thu 25 Apr 2024
Enter Symbol
or Name
USA
CA



Benchmark Botanics Inc
Symbol BBT
Shares Issued 137,947,974
Close 2018-10-18 C$ 0.50
Market Cap C$ 68,973,987
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Benchmark Botanics applauds cannabis legalization

2018-10-18 15:08 ET - News Release

Mr. William Ying reports

BENCHMARK BOTANICS APPLAUDS CANADA'S LEGALIZATION OF BILLION DOLLAR RECREATIONAL CANNABIS INDUSTRY AND DEEPENS COOPERATION WITH WORLD-RENOWN DUTCH BRAND "THE BULLDOG"

Benchmark Botanics Inc. has applauded the Canadian government's legalization of recreational marijuana. Today will mark the first legal recreational marijuana sales in what is expected to be a massive market. The total cannabis market in Canada, including medical as well as recreational products, is expected to generate up to $7.17-billion in total sales in 2019, according to a recent Deloitte report.

Commenting on the landmark development, Benchmark Botanical's chief executive officer, William Ying, stated: "We are thrilled with the legalization of recreational cannabis in Canada. Benchmark Botanical is well positioned to take full advantage of the legislation. This significant milestone puts Benchmark at the forefront of the cannabis industry. The advantages of legalization are that it opens a retail market in addition to a medical market, loosens regulatory restrictions for access, expands distribution and expands the industry to billions of dollars. The cannabis industry will now evolve at a very quick pace. Today's legalization is another step forward for our company as we continue to take Benchmark to new and greater levels.

"The legalization of recreational marijuana will have tremendous positive impact on many of Benchmark businesses. The recent licence agreement with the Bulldog (see news release on Sept. 27), for example, is an evidence of our determined execution of strategies. With the use of The Bulldog trademarks, we will seek to build one of the most engaging and successful brands and develop leading products in Canada for the adult-use market. With the addition of The Bulldog trademark, which has a long-established history as one of the most well-known coffee shop brands in Amsterdam and beyond, the partnership will assist the company to position itself in the Canadian adult-use cannabis market. The company is continuing to make prudent investments and efforts into marketing and branding of our products for the Canadian adult-use cannabis market."

About The Bulldog

The Bulldog is an Amsterdam-based company that owns and operates a chain of cannabis coffee shops, a five-star hostel hotel in Amsterdam, locations in Canada and a merchandising line. The Bulldog No. 90 was the first coffee shop in Amsterdam and laid the benchmark for the contemporary coffee shop. What once began in a cellar, has grown into a well-recognized trade name in several countries.

About Benchmark Botanics Inc.

Benchmark is a publicly traded company based out of Vancouver, B.C., positioned to provide financing, partnership opportunities and acquisition offers to licensed producers and ancillary businesses within the global cannabis industry.

In November, 2017, the company acquired its first subsidiary, Potanicals Green Growers. Potanicals Green Growers possesses a Health Canada licence to cultivate and sell cannabis as an ACMPR licensed producer.

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