StillCanna Signs C$6 Million Per Month Agreement with California Based BioScience Enterprises, Inc. to Supply CBD

Vancouver, British Columbia–(Newsfile Corp. – March 28, 2019) – STILLCANNA INC. (CSE: STIL) (“StillCanna” or the “Company”) is pleased to announce that the Company has entered into a binding letter of intent with BioScience Enterprises, Inc. of California (“BioScience”) to supply C$6,000,000 of CBD isolate per month for an initial term of 6 months, such term may be extended by mutual agreement of the parties.

The Company anticipates that, subject to applicable stock exchange and regulatory approval, it will enter into a definitive agreement (the “Definitive Agreement”) with BioScience within the 60-day due diligence period under the binding letter of intent.

The Company expects to begin delivering on its contract in August of 2019 utilizing its Polish harvest of 1,500 hectares of hemp.

“We have visited BioScience Enterprises facilities,” stated Jason Dussault CEO of StillCanna. “We are impressed with their industry knowledge and capabilities. We are pleased to be a supplier of CBD isolate and hope to establish a long-standing relationship with BioScience. We believe this strategic arrangement compliments our business model and will help us reach our corporate milestones.”

Richard Parker, President of Operations, BioScience Enterprises, Inc. mentioned: “We are thrilled to be working with an innovative group like StillCanna on a partnership. Having a high standard for quality product is what makes BioScience a reputable supplier, without producers like StillCanna that wouldn’t be possible.”

ABOUT BIOSCIENCE ENTERPRISES, INC.

Since its inception in 2018 – Bioscience has emerged as a leading contract manufacturer and supplier of CBD nationwide. The company native to California has contracts across the continental USA and Canada for the supply of EU and domestic high-grade isolate, distillate and a variant of finished products. The company is housed in a secure 18,000 square foot plant, which is capable of a monthly output of 1.5 million glass tinctures, 2 million vape PET products, 1.5 million cartridges and 1.5 million disposable pens. BioScience supplies for many of America’s known brands and supplies bulk CBD to various industry manufacturing companies. The company intends to apply through the United States DEA for their own license to import hemp-derived CBD from around the world. BioScience strives to maintain its purest CBD supply on the market through a world-class quality assessment and quarantine process. BioScience currently estimates to contract over 100mm in gross sales through 2019.

For more information, please visit www.bioscience-enterprises.com

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. Based on a proprietary process and intellectual property, the Company is forecasted to be one of the lowest-cost CBD extractors operating in Europe. The Company has signed an extraction contract to be the exclusive extractor for Dragonfly BioSciences LLC, a United Kingdom-based supplier of CBD. Upon the completion of the Olimax Transaction, StillCanna is anticipated to be one of the largest processors and providers of market-ready CBD in Europe.

For more information, please visit www.StillCanna.com

On Behalf of the Board,
Joel Leonard,
Chief Financial Officer and Director
E-mail: accounting@jclpartners.ca

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 expectation of the Company entering into the Definitive Agreement by the expiry of the due diligence period and the terms of the Definitive Agreement are expected to reflect the binding letter of intent as anticipated by management. 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 Company will be able to enter into the Definitive Agreement by the expiry of the due diligence period and that the Definitive Agreement will reflect the terms of the binding letter of intent as anticipated by 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 Company will not be able to enter into the Definitive Agreement by the expiry of the due diligence period, that the LOI will be terminated and that the anticipated CBD purchase will not be completed and that the Company may not supply CBD isolate to BioScience on the terms as anticipated by 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.

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Going Public

As of November 16, 2018

We have filed our listing statement in connection with EVI Global Group Developments Corp.’s change of business with the CSE for comments.

Timeline

16May, 2019

Former President of the College of Naturopathic Physicians of British Columbia Joins StillCanna’s Team

read more

7May, 2019

Stillcanna Acquires Polish Hemp Producer and Receives the Proceeds of Its $24,365,000 Financing

read more

30Apr, 2019

StillCanna Begins Hemp Initiative in Poland

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25Apr, 2019

StillCanna Closes Oversubscribed Private Placement of Subscription Receipts for $24,365,000

read more

11Apr, 2019

StillCanna Recruits Seasoned PhD to Manage Its Romanian Extraction Facility and Provides Update on Its Previously Announced Financing

read more

28Mar, 2019

StillCanna Signs C$6 Million Per Month Agreement with California Based BioScience Enterprises, Inc. to Supply CBD

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18Mar, 2019

StillCanna Signs Definitive Agreement for the Acquisition of a Leading European Hemp Cultivator Olimax

read more

15Mar, 2019

StillCanna’s Anchor Extraction Customer Increases Its Monthly Order By Over 300%

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15Mar, 2019

EVI Global Group Developments Corp. (CSE: EVI) Changes to StillCanna Inc. (CSE: STIL), a Leading Extractor of CBD in Europe, and Begins Resumption of Trading

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19Feb, 2019

EVI’s European Based Extraction Facility Initiates Hemp Processing

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15Oct, 2018

EVI Global firms up acquisition of Borganic Consulting

read more

11Oct, 2018

EVI Global Group closes $4-million private placement

read more

6Sep, 2018

EVI Global Group to acquire Borganic Consulting

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Refinery #1 - Romania

June 7, 2018

LEASED FACILITY IN ROMANIA

June 7, 2018

COMPLETED FACILITY ENGINEERING DRAWINGS

August 1, 2018

ORDERED CUSTOM MANUFACTURED EQUIPMENT AND SCIENTIFIC EQUIPMENT

June 7, 2018

LEASED FACILITY IN ROMANIA

September 1, 2018

HIRED LOCAL ARCHITECT FOR PERMITTING

September, 2018

FLOORS, WASHROOMS, WALLS, ROOF AND CEILING ALL IMPROVED

October 1, 2018

LARGE HEMP SEPARATOR MACHINE ARRIVES ON SITE

November 15, 2018

ROMANIAN SUBSIDIARY COMPANY DOCUMENTS APPROVED & REGISTERED

November 22, 2018

ROMANIAN STAFFING PROCESS STARTED - FACILITY GM HIRED

November 25, 2018

SUCCESSFUL SITE VISIT OF GOVERNMENTAL ENVIRONMENTAL AGENCY

November 25, 2018

BAILESTI MAYOR VISIT - HEAVILY SUPPORTIVE

December 1, 2018

PLACED TWO 40 FOOT CONTAINERS AT FACILITY FOR STORAGE

December 5, 2018

FOUR CONTAINERS OF SPECIALIZED EQUIPMENT ARRIVED FROM SUPPLIERS FORKLIFT ARRIVED

  • Anticipated Upcoming Milestones
June 7, 2018

LEASED FACILITY IN ROMANIA

December 15, 2018

ASSEMBLY OF SEPARATOR MACHINE, GENERAL MANAGER HIRING STAFF FOR JAN 2019 START

December 20, 2018

COMPLETION OF 40 FOOT WALK IN FREEZER

January 1, 2018

COMPLETION OF INTERIOR WALLS AND SECURITY SYSTEMS

January 7, 2018

INSTALLATION OF SCIENTIFIC EQUIPMENT

January 21, 2018

BEGIN EXTRACTION

Update on Our Partners

Milestones

April, 2017

planted first crop

May, 2017

obtained first licence to grow

June, 2017

purchased first 10ha of land

September, 2017

commenced first run of finance

November, 2017

Closed first run of finance

January, 2018

extraction of first crop

February, 2018

dragonfly product online

March, 2018

open loan note

May, 2018

EIS status granted

July, 2018

3yr gmp licence granted

August, 2018

signed ceuta as a distributor

August, 2018

commenced second harvest

September, 2018

cbd content crop analysis 7.58%

September, 2018

J/V melabies

September, 2018

first bulk sale order (germany)

October, 2018

season 2 harvest completed

October, 2018

sale to day lewis pharmacy

October, 2018

starpharma

November, 2018

closed loan note

November, 2018

boots istribution deal

Industry News

15Oct, 2018

EVI Global firms up acquisition of Borganic Consulting

EVI ANNOUNCES PROPOSED ACQUISITION OF BORGANIC CONSULTING INC. In connection with the letter of intent with Borganic Consulting Inc. previously announced on Sept. 6, 2018, EVI Global Group Developments Corp. has entered into a definitive share exchange agreement with Borganic under which the company has agreed to acqui...Read More

11Oct, 2018

EVI Global Group closes $4-million private placement

EVI ANNOUNCES CLOSING OF OVERSUBSCRIBED NON-BROKERED PRIVATE PLACEMENT EVI Global Group Developments Corp. has closed its non-brokered private placement previously announced on Sept. 5, 2018. Due to increased demand, the previously announced private placement was increased from $3-million to $4-million with 16 million ...Read More