World News: 12:30 GMT Tuesday 3rd December 2019. [Blueberries Medical Corp. via Globe Newswire via SPi World News]
TORONTO, Dec. 03, 2019 (GLOBE NEWSWIRE) -- Blueberries Medical Corp. (CSE: BBM) (OTC: BBRRF) (FRA: 1OA) (the “” or ""), a Latin American licensed producer of medicinal cannabis and cannabis-derived products, is pleased to announce that it has commenced harvest of its first commercial crops at its 3.2-hectare Guatavita facility located in Bogotá Savannah, Colombia. The crops consist of the Company’s five registered non-psychoactive cannabidiol (“CBD”) strains recently approved by the Colombian Institute of Agriculture (“ICA”), as announced on September 27, 2019. These five proprietary cultivars were developed and tested by the Company’s agronomy team and optimized for growth in the local climate as well as maximized active ingredient yield.
The Company continues to advance its custom-built EU-GMP compliant extraction line towards completion which is expected in January 2020, when oil production is expected to commence with commercial sales beginning in Q1 2020. This will include the production of magistral formulations which are treatments with custom-designed concentrations and properties, prescribed to patients by physicians for the treatment of specific medication conditions. The Company’s partnerships with the Van Uden International Center for Alternative Medicine and El Manantial Medical Centers will allow for commercial distribution of Blueberries products and magistral formulations through a growing combined patient network of over 19,000 patients which is expected to grow to over 60,000 patients over the next 36-month period as four new centers are projected to come online. Discussions are also ongoing for additional sales arrangements. The Company is in the process of registering additional strains and will provide further updates on its continued achievements in due course. "This is a very significant milestone for Blueberries and the entire team is very pleased with the substantial operational progress made in the past few months, which brings us closer to our first commercial oil extraction in Q1 of 2020 and commencement of sales operations,” stated Mr. Camilo Villalba, Chief Operating Officer. “As the industry and regulations continue to evolve rapidly, we are confident in our ability to meet our key milestones through our focused strategy of strong, high-quality extraction.”
For images and more information about the Company and to keep up to date with the Company’s recent developments, please visit the on the Company’s website.
Additional information about the Company is available at . For more information, please contact:
Camilo Villalba, Chief Operating Officer Tel: +57 (313) 483 0131
Ian Atacan, Chief Financial OfficerTel: +1 (416) 562 3220
Jessika Angarita, Pacta Relations Tel: +1 (305) 877 4710
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.
Photos accompanying this announcement are available at
Globe Newswire: 12:30 GMT Tuesday 3rd December 2019
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