StillCanna Signs Definitive Agreement With BioSciences Enterprises to Supply C$36 Million Worth of CBD Isolate and Implements a Two-Stage Extraction Plan for Poland

VANCOUVER, May 28, 2019 /PRNewswire/ – StillCanna Inc. (CSE: STIL) (“STIL” or the “Company”) is pleased to announce that further to its press release dated March 28, 2019, it has signed a definitive agreement to supply Bioscience Enterprises of California with up to C$36,000,000 worth of CBD Isolate.

“We are extremely pleased to formalize our relationship with StillCanna,” stated Richard Parker President of Biosciences Enterprises, “not a day goes by that our firm isn’t looking for a company like StillCanna, but finding a knowledgeable seed to shelf CBD manufacturer in this young industry is extremely rare. With access to their own biomass and years of extraction expertise StillCanna makes a perfect partner for us today and into the future.”

To accelerate its product delivery, the Company is implementing a two-stage extraction plan for Poland. Stage one will consist of equipment engineered to optimize the production of CBD Isolate. With permitting in place and equipment ordered for Poland, it is anticipated that the initial line will produce and ship CBD Isolate Q4 of 2019 allowing the Company to begin fulfilling its obligations under the Biosciences agreement.

“One of the many benefits in our acquisition of Olimax in Poland is its infrastructure including buildings and existing licenses to extract CBD. By having these licenses in place, Olimax alleviates what could be a lengthy bureaucratic process to obtain such licenses. The purchase and installation of equipment is not the delaying factor in building an extraction facility in Europe, it’s the time required to obtain the many licenses and permits to manufacture CBD,” explained Jason Dussault Chief Executive Officer of StillCanna, “the Company is ecstatic about being able to hit the ground in Poland running.”

Stage two of the Company’s extraction plan in Poland is a brand new, ground up, GMP certified CBD extraction facility engineered to produce over 80 million grams of CBD per year. The Company has budgeted an initial C$8.5 million for construction and equipment. Completion of stage two in Poland is expected to be completed in 10 to 14 months.

Since the Company’s initial financing in October 28, 2018 it has been focused on the building and completion of its Romanian extraction facility.  Originally, the Company had anticipated a 12 to 14 month build to be fully operational. The Company remains on time and on budget. Over the past 7 months the Company has:

  • Secure the physical location;
  • Completed all architectural drawings, electrical drawing and fire plan;
  • Updated the architectural drawings to be GMP complaint;
  • Ordered, installed and wired all the equipment required to produce CBD;
  • Processed tons of hemp and have stored tons of flower waiting final processing;
  • Purchased and received all laboratory equipment for testing and chromatography;
  • Completed construction on a minus 26 degree, 400 square foot walk in freezer;
  • Secured leading Chemists and PhDs to oversee production;
  • Built GMP compliant facility including special floors, ceiling, walls, lights doors and ventilation;
  • Achieved a major milestone by receiving final approval from the Environmental Protection Agency;
  • Completed our GMP Standard Operating Procedures

The Company’s equipment and personnel have been in place in Romania for many months as we anxiously await our final permits to manufacture CBD. The Company expects that it will receive all required licenses and permits and be in full production within its original 12-month timeline. The Company is waiting for certain approvals including, but not limited to:

  • The Romanian General Inspectorate for Emergency Situations;
  • A Geotechnical Report;
  • Health Ministry Approval; and
  • Final Fire Inspection.

The Company expects to receive all remaining approvals required to be obtained in its normal course of business without complication.

The Company looks forward to manufacturing and shipping CBD to meet the needs of its current and future partners.

The Company is also pleased to announce 1,800,000 stock options have been granted to certain officers and consultants pursuant to the Company’s stock option plan.  The options are exercisable after three months from the grant date for a period of five years at a price of $1.23 per share.

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 Europeto 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.

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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

14Jun, 2019

Stillcanna Predicts Bumper Hemp Crop in Poland resulting in Hemp Offtake LOI with Sequoya Cannabis

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5Jun, 2019

StillCanna Enters into a Strategic Relationship with CBD Logistics Expert for Secure Transportation of its Products Internationally

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31May, 2019

StillCanna Announces OTC Markets Listing

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30May, 2019

StillCanna Strengthens Board with Business and Finance Veteran Warren Robinson

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28May, 2019

StillCanna Signs Definitive Agreement With BioSciences Enterprises to Supply C$36 Million Worth of CBD Isolate and Implements a Two-Stage Extraction Plan for Poland

read more

16May, 2019

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

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7May, 2019

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

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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

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11Apr, 2019

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

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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

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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

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11Oct, 2018

EVI Global Group closes $4-million private placement

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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

14Jun, 2019

Stillcanna Predicts Bumper Hemp Crop in Poland resulting in Hemp Offtake LOI with Sequoya Cannabis

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 Compa...Read More

5Jun, 2019

StillCanna Enters into a Strategic Relationship with CBD Logistics Expert for Secure Transportation of its Products Internationally

VANCOUVER, June 5, 2019 /CNW/ – StillCanna Inc. (CSE:STIL, OTC:SCNNF, FRANKFURT:A2PEWA) (“STIL” or the “Company”) is pleased to announce it has entered a strategic relationship with Sarah Yetman, an expert in the international transportation of industrial hemp and CBD. Ms. Yetman has o...Read More

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