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BC Craft Supply Co. Ltd. (CSE: CRFT, OTC: CRFTF) has signed an Advisory and Development Agreement with Jordache Commodities Ltd. to manage its Medcann facility in Chemainus, BC. Jordache will invest up to $2 million for facility development, with BC Craft issuing 5 million common shares valued at $275,000. Profits from the facility will be split 49% for BC Craft and 51% for the consultant. Additionally, BC Craft will issue 2.5 million stock options with specific vesting conditions related to revenue and licensing. This partnership aims to enhance growth in both domestic and international markets.
BC Craft Supply Co. Ltd. (CSE: CRFT, OTC: CRFTF) has appointed Susan Chapelle to its advisory board. Chapelle, who is currently the COO at PurMinds BioPharma, brings significant experience in business development and government relations. Previously, she was the director of government relations at BC Craft. CEO Matthew Watters expressed excitement about her appointment, highlighting her potential to enhance the company’s psychedelics division, AVA Pathways, while also focusing on cannabis brand commercialization.
BC Craft Supply Co. Ltd. (CRFTF) announced its acquisition of 100% of Somo Industries Inc. dba Feelwell Brands. The agreement follows a letter of intent dated March 23, 2021. Somo Industries operates the Clix cannabis brand in California, which focuses on wellness-inspired, micro-dosed cannabis products. The acquisition will involve the issuance of approximately 30.8 million units to vendors at a value of $0.08925 per unit, including warrants. The transaction is set to close on May 11, 2021, and is classified as a related party transaction due to connections with BC Craft's CFO.
BC Craft Supply Co. (CSE: CRFT, OTC: CRFTF) has signed a letter of intent to acquire Somo Industries, a California-based cannabis brand known for its wellness-focused, micro-dosed products. The acquisition involves issuing 30,812,320 units valued at $0.08925 each to Somo's vendors, with potential for considerable synergies in U.S. sales and distribution. CEO Matthew Watters expressed enthusiasm for integrating Somo’s team, enhancing market presence in California, and exploring product offerings for the Canadian market.
BC Craft Supply Co. Ltd. (CSE: CRFT, OTC: CRFTF) has entered a definitive agreement to acquire 100% of Ava Pathways Inc., enhancing its presence in the emerging psychedelic market. The acquisition involves the issuance of 41 million units valued at $0.105 each, providing shareholders with pro-rata shares and warrants. The integration aims to establish a dedicated psychedelic division for research and development in psychedelic-based treatments for mental health disorders. CEO Matthew Watters expressed enthusiasm for commercializing psychedelic assets as legal parameters evolve.
BC Craft Supply Co. Ltd. (CSE:CRFT) has announced the acquisition of 45kg of Death Bubba from Canada’s first licensed micro cultivator, Canandia. The product will be processed by Indiva Limited (TSXV:NDVA) for its premium brand, Artisan Batch, and is now available in BC. Death Bubba is an indica-dominant hybrid with over 27.5% THC, reflecting Canandia's focus on quality cultivation. CEO Matthew Watters highlighted the unmatched quality of Canandia's flower, which sets a high standard in the Canadian recreational market.
BC Craft Supply Co. has announced that its common shares are now trading on the OTC Pink Market in the U.S. under the symbol CRFTF, following the acceptance of its Form 211 by the Financial Regulatory Authority. The shares are also eligible for electronic clearing through the Depository Trust Company. Additionally, BC Craft continues to trade on the Canadian Securities Exchange and Frankfurt Stock Exchange under the symbols CRFT and ZZD1, respectively. The company aims to be a premium cannabis brand in Canada, leveraging skilled cultivators.