Bougainville Ventures Inc. and ESEV R&D Begins Formulation Process for CBD Energy Drink
June 13 2019 - 2:00AM
BOUGAINVILLE VENTURES INC. ("Bougainville" or the
"Company") (CSE:BOG)
(Frankfurt:8BV) Further
to the Israeli sponsorship research agreement announced in the
Company’s news release dated May 14, 2019, management is pleased to
announce that it has paid a 10% deposit to ESEV R&D to begin
the formulations process on the water soluble cannabis-based (CBD)
supplement energy drink. The final report will include; clinical
trials results, sourcing of ingredients, PH balance, nutritional
chart, shelf-life, as well as cost of ingredients and contacts.
Andy Jagpal, President, Comments: “We have
already begun sourcing a local bottling company to handle the
production and processing of the CBD energy drink once the
formulations are ready. We are adamant about bringing the energy
drink formulation to market and feel we have developed the right
relationships to get the job done right.”
WORMCASTING TRANSACTION FINANCING UPDATE
Further to the Company news release dated June 11, 2019,
management is pleased to announce that it has paid-off the final
outstanding payment of USD$120,000 owed to Worm Castings Farms Inc.
pursuant to Bougainville’s obligation under the Worm Castings Share
Exchange Agreement.
OROVILLE CAMPUS UPDATE
Further to the Company news release dated April 1, 2019,
management would like to announce that the tenant grower is waiting
to receive final occupancy approval from the Washington State
Liquor and Cannabis Board (“WSLCB”) to begin planting. The tenant
expects a visit to the site by the WSLC in the near future and is
planning to plant a 20,000 sq. ft. out-door crop.
In addition, the Company wishes to correct an error in its news
release dated May 1, 2019 in which the Company announced that a
private placement with gross proceeds of $190,000 for 3,166,666
Units at a price of $0.06 per Unit (the “Private Placement”) had
closed. The Private Placement was oversubscribed for 3,316,666. The
remainder of the news release dated May 1, 2019 is accurate and the
oversubscribed Private Placement was closed on May 1, 2019 with the
amount of $199,000 for 3,316,666 Units
About Bougainville Ventures, Inc.
Bougainville Ventures Inc. is dedicated to rapid growth in
production, processing, retail and branding of cannabis and
cannabis related products. Currently the company provides strategic
capital to the thriving cannabis cultivation sector through
ownership and development of commercial real estate properties. We
offer fully built out turnkey facilities equipped with
state-of-the-art growing infrastructure to cannabis growers and
processors. Also, the Company is focused on building a strong
presence in the hemp industry with the objective of extracting
cannabinoids (CBD & CBN) in both Canada and the United States.
With our flagship Hemp project in Oregon State the Company has
proprietary, patent-pending hemp root oil extraction technology and
formulas for cannabis topicals and tinctures.
http://bougainvilleinc.com/
On behalf of the Board of Directors BOUGAINVILLE VENTURES
INC.
Andy Jagpal, CEO and Director
For further information, please contact Andy Jagpal
at info@bougainville.com or
1-888-395-7816
FORWARD LOOKING STATEMENTS: This news release contains certain
forward-looking statements within the meaning of Canadian
securities laws. Forward-looking statements are based on the
expectations and opinions of the Company’s management on the date
the statements are made. The assumptions used in the preparation of
such statements, although considered reasonable at the time of
preparation, may prove to be imprecise and, as such, undue reliance
should not be placed on forward-looking statements. The Company
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.
No regulatory authority has approved or disapproved the
information contained in this news release.
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