Mr. Andy Jagpal reports

BOUGAINVILLE SIGNS SECOND TENANT FOR 21K SQ. FT. LEASE AT OROVILLE, WA CAMPUS

Bougainville Ventures Inc. has signed a second lease agreement with a private Washington State, Tier-2 I-502 licensee to lease up to 21,000 square feet of I-502-compliant space from the Bougainville Ventures campus in Oroville, Wash. Bougainville Ventures has been involved with the licensee as a consultant and in the infrastructure development capacity at its current location.

The Tier 2 tenant is currently ready to harvest this year's crop at the end of the month. Bougainville Ventures and the tenant have agreed to the terms of the lease and will occupy a one-acre parcel of land following building, property and infrastructure improvements. The new tenant has been in operations since 2015 and has extensive experience and contacts in supplying the extract market in the state of Washington.

Bougainville Ventures would also like to add that it has completed its due diligence on the additional three-acre parcel and will be moving forward to close on the transaction.

Andy Jagpal, chief executive officer of Bougainville Ventures, commented: "With the addition of this second tenant lease for the Washington property, our business model is now well under way. We will continue to execute on our cannabis infrastructure business model to serve the needs of tenant-growers in the U.S. and Canada."

About the Washington I-502 marijuana market

In November, 2012, the Washington State Liquor Control Board passed Initiative 502 (I-502) pursuant to a vote by the people of the state of Washington. I-502 authorized the Washington State Liquor Control Board to regulate and tax recreational marijuana products for persons over 21 years of age and thereby created a new industry for growing, processing and selling of Washington State-regulated recreational marijuana products. A recent Washington State Liquor Control Board commissioned report by the Rand organization suggests that there are currently up to 650,000 recreational marijuana users in Washington State, worth approximately $1.25-billion (U.S.) to $1.5-billion (U.S.) in annual sales.

About Bougainville Ventures Inc.

Bougainville Ventures provides cannabis infrastructure as well as seed-to-sale services to I-502 tenant-growers leasing greenhouse facilities space and providing fully built-out turnkey solutions and ancillary services, including processing, cannabis expertise, and marketing and sales resources. Greenhouse canopies provide savings of 50 per cent in cultivation cost. Bougainville Ventures has 10,000 square feet in near production in Oroville, Wash.

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