TORONTO, Jan. 03, 2018 (GLOBE NEWSWIRE) -- Beleave Inc. ("Beleave" or the "Company") (CSE:BE) (OTC:BLEVF) is pleased to announce that it has signed a letter of intent with Seven Oaks Cannabis Inc. (“Seven Oaks”) for Seven Oaks to carry Beleave products if awarded a cannabis retail license by the Government of Manitoba (the “Manitoba Government”). Seven Oaks is interested in exploring a purchase and supply arrangement in which Beleave would supply minimum of 1.25 million grams, per annum, of dry flower equivalent of Beleave Inc. branded cannabis products.
Seven Oaks is seeking to establish a competitive retail distribution chain for recreational cannabis in the Province of Manitoba. Seven Oaks is applying to the Manitoba Government to run a system of retail structures which will provide consumers with access to a wide range of products, as well as foster awareness and educate the general public with respect to the responsible use of cannabis.
“We welcome these kinds of relationships and the group at Seven Oaks has been great to work with this far,” commented Beleave CEO Andrew Wnek, “We look forward to negotiating an agreement that builds a long-lasting partnership within the Province of Manitoba.”
Beleave Inc. is a biotech company and Beleave's wholly-owned subsidiary Beleave Kannabis Corp. (formerly First Access Medical Inc.) is a licensed producer pursuant to the ACMPR. Beleave's purpose-built facility is located in Hamilton, Ontario.
This news release contains "forward-looking information" within the meaning of applicable securities law ("forward-looking statements"). The use of any of the words "plan", "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and other similar words, or statements that certain events or conditions "may" or "will" occur are intended to identify forward-looking information. These statements are only predictions. Although the Company believes that the expectations and assumptions on which the forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. These risks and uncertainties include, but are not limited to, the Company's ability to satisfy the conditions associated with its cultivation license, the Company's ability to obtain a sales license and the related timing considerations, the availability of further financing, consumer interest in its products, competition, regulation, operational and technological risks, and anticipated and unanticipated costs and delays. Since forward-looking information addresses future events and conditions, by its very nature it involves inherent risks and uncertainties. This information speak only as of the date of this news release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents, which can be found under the Company's profile on www.sedar.com.