Greenstar Biosciences Corp.
Greenstar Announces Execution of Long Term Cannabis Flower Supply Agreement
Wednesday, June 12, 2019 8:00 AM
VANCOUVER, BC / ACCESSWIRE / June 12, 2019 / Greenstar Biosciences Corp. ("Greenstar" or the "Company") (CSE: GSTR) is pleased to announce that its tenant partner in Washington State, Cowlitz County Cannabis Cultivation, Inc. ("Cowlitz"), has signed a long-term supply agreement with Pat Dullanty, owner and operator of an 18 acre tier 3 outdoor grow facility located at 26425 S Rupp Rd, Cheney, Washington 99001. Pursuant to this new agreement, Cowlitz will have access to up to 25,000 pounds, dry weight, of high-quality flower annually. The facility has significant room for expansion in both land and available high-quality spring water and gives Cowlitz a strong and stable supply of cannabis flower for years to come. A video of the Dullanty facility is provided below:
Greenstar is the owner of the property leases, brands and intellectual property of Cowlitz County Cannabis Cultivation Inc., a licensed cannabis producer and processor located in Washington State. Learn more about Greenstar at www.greenstarbiosciences.com.
Cowlitz is a leading producer, marketer and vendor in the Washington State recreational cannabis market. Known for sourcing high-quality cannabis sold at affordable prices to a broad and established consumer base, Cowlitz's portfolio of branded products is available at approximately 20% of cannabis retailers throughout Washington State. Cowlitz brands include; Columbia Valley Private Reserve, Cowlitz Creeper, Cowlitz Gold, High Guys and Dab Dudes and they have seen steady growth in the past five years. Cowlitz exceeded $14M in revenue for the 2018 calendar year and is on pace to exceed that number again in 2019. A critical element of that success is the availability of, and the ability to source and procure quality raw material cannabis flower to feed their growing demand. This agreement helps ensure that Cowlitz will be able to meet that expected demand despite current shortages within the state and expected future supply fluctuations.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws, unless an exemption from such registration is available.
For further information please contact:
Greenstar Biosciences Corp.
Ralph Olson, CEO
Tel: (303) 807-4827
THE CSE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.
Forward Looking Statements
This news release contains forward-looking statements relating to the future operations of the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the Transaction and the future plans and objectives of the Company, are forward looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are risks detailed from time to time in the filings made by the Company with securities regulations.
The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. As a result, the Company cannot guarantee that the Transaction will be completed and that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.
SOURCE: Greenstar Biosciences Corp.