VANCOUVER, June 14, 2019 /PRNewswire/ – Stillcanna Inc. (CSE:STIL, OTC:SCNNF, FRANKFURT:A2PEWA) (“STIL” or the “Company”) is pleased to announce that favorable weather conditions and above average temperatures in Poland is having a positive effect on its current hemp crop. The Company’s agricultural experts at Olimax in Poland are anticipating harvesting more biomass from its 1,500-hectare crop than previously expected. Originally, the Company anticipated harvesting 250 kilograms of dry flower per hectare, but the Company now expects to harvest 350 kilograms of dry flower per hectare. Hemp, unlike many other crops, thrives in a hot dry climate and Poland has been experiencing warmer than usual weather.
As was previously announced on May 28, 2019, Stillcanna’s Polish extraction facility was engineered to process 250 kilograms of dry flower per hectare this year. With an excess of 70,000 kilos of dry flower expected for 2019 comes the opportunity to monetize this excess. Stillcanna has signed a letter of intent with Sequoya Cannabis to provide Sequoya with C$1,000,000 worth of hemp off its fields. The companies intend to sign a definitive agreement by July 15, 2019 and will announce details of the definitive agreement once it is signed.
“There is a shortage of both CBD and good biomass in Europe,” stated Jason Dussault CEO of Stillcanna. “It is anticipated that favorable agricultural conditions will allow us to meet or exceed our own biomass requirements while quickly monetizing the 2019 excess. This order represents only a portion of our available excess biomass for 2019.”
“Having access to surplus biomass from Stillcanna’s Polish fields is a definite win-win for both companies,” explained Shemek Fedyczkowski, CEO of Sequoya Cannabis. “To find quality biomass so close to our Krakow facility is amazing, I hope we build a long term relationship with Stillcanna and that they will allow us to buy more hemp in the future.”
The Company has also entered into an agreement with FlinnWest Solutions to enhance public awareness of the Company with a budget of approximately $840,000 US. FlinnWest Solutions are experts in digital advertising, paid distribution, media buying and content creation.
Visit http://thestillcannareport.com for additional company information.
About Stillcanna Inc.
Stillcanna Inc. (CSE: STIL) www.stillcanna.com is a Canadian early-stage life sciences company focused on large scale CBD extraction in Europe. The Company believes its proprietary intellectual property allows it to extract CBD at a lower cost. The Company has signed an initial extraction contract in Europe to be the exclusive extractor for Dragonfly BioSciences LLC, a United Kingdom-based supplier of CBD. The Company also recently completed the acquisition of Olimax NT SP. Z .O.O, which is expected to increase the Company’s market share in the European CBD industry.
On Behalf of the Board,
Chief Financial Officer and Director