Vancouver, British Columbia--(Newsfile Corp. - April 30, 2019) - StillCanna Inc. (CSE: STIL) ("STIL" or the "Company") is pleased to announce it has begun its agricultural initiatives in Poland to farm over 1,500 hectares of its propriety high CBD content hemp varietal.
StillCanna has ordered and anticipates delivery in July of special harvesters and conveyors with proprietary dryers to make the harvest easy and efficient. The high-tech equipment is capable of speeds up to 15km per hour with a special four and a half meter wide cutting device. It's estimated that the Company's 2019 harvest will produce over 16 million grams of pure CBD. As our proprietary strain of hemp has a gestation period of 45 days, the Company is considering planting two crops on a number of its properties to increase its CBD production capabilities for 2020.
The Company anticipates breaking ground in May for its new CBD refinement facility in Poland, which is expected to cost approximately $6 million to complete its development. The facility is designed to have the capacity to initially produce up to 40 million grams of CBD annually with the ability to further build out the facility to increase production as necessary.
"Spring is an exciting time for global agriculture and StillCanna," explained Jason Dussault, Chief Executive Officer of StillCanna. "The expansion of our EU footprint into Poland is yet another milestone in the implementation of our business initiatives. With over 20 years experience in hemp cultivation, we look forward to meeting the ever increasing demand for quality CBD from our fields and facilities."
The Company also announces that it has engaged Native Ads Inc. to provide and manage a comprehensive digital media marketing campaign for the Company.
The Company has entered into an eight week programmatic digital advertising campaign for an approximate cost of one hundred thousand dollars for digital advertising, paid distribution, media buying and content creation. Neither Native Ads nor any of its directors and officers own any securities of the Company.
About StillCanna Inc.
StillCanna Inc. (CSE: STIL) www.stillcanna.com is a Canadian early-stage life sciences company focused on large scale CBD production in Europe. The company believes that its proprietary intellectual property allows it to extract CBD more efficiently and 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. Upon the completion of the Olimax transaction, StillCanna will be one of the largest processor and providers of market ready CBD in Europe.
On Behalf of the Board,
Chief Financial Officer and Director
The CSE has not in any way passed upon the merits of and has neither approved nor disapproved the contents of this news release.
Cautionary Note Regarding Forward Looking Statements: This release includes certain statements and information that constitute forward-looking information within the meaning of applicable Canadian securities laws, including statements regarding the anticipated delivery in July of the harvesters and conveyors, the Company's anticipated 2019 CBD yield of 16 million grams, the anticipated timeline of May for beginning construction of a CBD extraction facility in Poland, and the anticipated level of production at the planned CBD extraction facility in Poland and its anticipated cost. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should" or "would" occur. Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this press release, including that the harvesters and conveyors will be delivered in July, the Company's will have a 2019 CBD yield of 16 million grams, the construction of a CBD extraction facility in Poland will begin in May, and the level of production at the planned CBD extraction facility in Poland and its anticipated cost will be as anticipated by the Company's management. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors may include, among others, that the harvesters and conveyors will not be delivered in July, the Company's will not have a 2019 CBD yield of 16 million grams, the construction of a CBD extraction facility in Poland will not begin in May or at all, and the level of production at the planned CBD extraction facility in Poland and its anticipated cost will not be as anticipated by the Company's management. Readers are cautioned not to place undue reliance on forward-looking statements. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.