15:41:07 EST Sun 23 Feb 2020
Enter Symbol
or Name

Login ID:

Sire Bioscience unit receives industrial hemp licence

2019-09-11 07:22 ET - News Release

Mr. Jeff Zanini reports


In a milestone achievement that will change the face of its entire business, Sire Bioscience Inc.'s wholly owned company, Best Cannabis Products Inc. (BCP), has received its industrial hemp licence (IHL) from Health Canada.

This major milestone comes after a vigorous application process and establishes Sire -- a world-class hemp production company -- as a trusted, fully compliant hemp provider. For its investors, it will also mean faster speed to revenue, as the company prepares to launch a wide range of cannabidiol-infused edibles, beverages, personal care products, pet care solutions and more.

CBD (cannabidiol): an exciting, high-growth market

"With the second wave of cannabis legalization set for October, receiving our industrial hemp licence couldn't have come at a better time," said Jeff Zanini, Sire chief executive officer.

He added: "When processing hemp biomass for CBD extraction, the profitability can range anywhere between $1,500 to $5,000 per kilogram depending if the final product is crude CBD oil or full-spectrum CBD oil. This provides a profit opportunity on our Leamington facility ranging between $2.25-million to $5-million that would be ready for our 2020 Harvest, which is great for shareholder value."

Society's interest in CBD products is more than just a passing trend. In fact, Brightfield Consulting Group forecasts that CBD sales will grow to over $22-billion by 2022. For consumers, the excitement lies in its many natural health benefits. CBD has been shown to help calm anxiety, reduce inflammation, improve skin health and support overall well-being in a number of ways. There is also the customization aspect. CBD products come in a variety of forms -- such as oils, edibles, drink infusions and creams -- to suit different lifestyles.

For savvy investors, the unprecedented demand for CBD can translate into exceptional returns. The key is investing in a company such as Sire, which has secured the necessary licensing and puts consumer needs first.

A winning house of brands strategy

Sire understands that hemp consumers want choice. They are multidimensional and seek different products for different occasions. That is why it has chosen a strategic House of Brands approach that will offer a variety of premium products under one roof.

Sire will act as the master brand, with a number of line extensions/subbrands housed under it. While each subbrand will deliver a unique function, format, or user experience, all subbrands will ladder up to one aspirational lifestyle brand -- Sire. Currently, Sire has 15 trademarks in the filing process with the CIPO. This will help differentiate its products from the competition and protect its investors.

The Sire house of brands will offer consumers different formats, functions and experiences to suit their every need.

Room to grow

The Sire growing operation combines indoor, greenhouse and prime outdoor agricultural land. It is set on a state-of-the-art agricultural facility in Leamington, Ont., an area known as the Sun Parlour of Canada due to its warm temperatures and ideal growing conditions. With 160,000 square feet of growing space on 50 acres of land, the facility was also chosen for its expansion potential.

"Not only do we have the space to cultivate for immediate market needs, but there is also considerable room for growth," explained Mr. Zanini. "Our Leamington facility could be expanded to cover upwards of one million square feet, making it one of the largest and most advanced operations in North America. Once fully optimized, our hemp production will provide ample supply to support our product portfolio and to promote steady revenue generation."

Adaptability equals faster revenue

While Sire and other hemp cultivators prepare for October, 2019, Mr. Zanini stresses the importance of adaptability.

"This market is still new and ever evolving," he said. "What makes Sire unique is that we're able to adapt quickly and efficiently to changing legislation and consumer insights. This will allow us to seamlessly offer new products as legislation permits."

Sire has also assembled a first-class team of seasoned supply chain experts, with more than 25 years of experience in regulatory, packaging and brand building.

"Having such a strong team will give us an early-mover advantage in key areas," noted Mr. Zanini. "The faster we can deliver new products, the faster our investors will reap the rewards."

In the meantime, Sire is committed to industry research and development, and has begun exploring Health Canada approved hemp/CBD varieties. The new industrial hemp licensing gives Sire immediate cultivation, propagation, nursery and formulation/manufacturing capabilities to meet consumer demand and support long-term business growth.

About Sire Bioscience Inc.

Sire's principal business activity is to engage in the investment, production of and sale of hemp for CBD extraction. Sire has its wholly owned state-or-the-art facility in Leamington, Ont. -- a preeminent locale for hemp cultivation in Canada. The land parcel included 50 acres of prime horticultural land, with 160,000-square-foot facility of combined greenhouse and indoor space. The company's goal is to become a vertically integrated CPG life science company with its house of brands offering.

We seek Safe Harbor.

© 2020 Canjex Publishing Ltd. All rights reserved.