via OTC PR WIRE -- BOUGAINVILLE VENTURES INC. (CSE: BOG) (OTC
Pink: BUGVF) (FSE: 8BV) (DEU: 8BV) (MUN: 8BV) (STU: 8BV)
("Bougainville" or the "Company") is pleased to provide a
corporate update to shareholders and the investment community at
large. The following information will provide an overview of the
status and progress on each of the ventures the Company has
initiated over the past year.
Oroville WA, Marijuana Production & Processing Farm
– Active – Tenant Starts Processing
Further to the production and processing approval from the WSLCB
announced in the Company’s news release dated September 13, 2019
the Tier 3 Oroville property tenant will postpone the production of
marijuana until the spring of 2020 and will focus on the processing
of marijuana first. The tenant is currently sourcing premium
marijuana through its wholesale market contacts to produce pre-roll
marijuana cigarettes. In addition the 28 kg of CBD oil produced
from the Oregon hemp farm will be sold to the Oroville tenant for
further processing and packaging.
Newburg, Oregon Hemp Production & Processing Farm –
Active – Mid-Harvest
Further to the Company’s news release dated October 1, 2019, the
Company is pleased to announce that the harvesting of the 10 acres
is going well and is 50% completed. The wet biomass cultivated
every week is shipped to the drying facility located in Eugene,
Oregon. The harvest is scheduled to be completed by the end of the
month and may be completed prior to that date. The Company will
provide further updates on the status of the harvest as it moves
closer to completion.
Letter of Intent with USA Hemp to Process 298 Acre –
Active– Under Construction
Further to the letter of intent ("USA Hemp LOI") with USA Hemp
announced in the Company’s news release dated July 17, 2019,the
Company’s Subsidiary Worm Casting Farms Inc. (“Worm Casting Farms”)
signed a LOI with USA Hemp to process its hemp derived wet biomass
from its 298 acre hemp farm in Oregon State. A 15,000 sq. ft.
pre-fabricated metal building is set to be delivered in the next
couple of weeks. A 15,000 sq. ft concrete slab foundation has been
completed and is awaiting delivery of the pre-fabricated metal
structure. Upon completion of construction the Company will be able
to begin processing the 298 acre hemp farm pursuant to the USA Hemp
LOI.
Production Agreement with California Co-Packing Company
– Set to Begin
The Company is pleased to announce it is moving forward with the
Co-Packing Company, which is a fully-licensed cannabis co-packing
and bottling company located in California that operates to GMP
standards, further to the Production Agreement announced in the
Company’s news release dated July 23, 2019, (the “Production
Agreement”) with a Co-Packing Company to produce and process a
dedicated line of Cannabidiol derived (“CBD”) products.
Pursuant to the Production Agreement the Co-Packing company has
agreed to provide product development, manufacturing, and
distribution of the Company’s CBD blended MCT Oil tincture products
for assistance with anxiety, energy and sleep deprivation. A
minimum SKU order is1,000 gallons or 56,000 units, which will be
distributed to nutraceutical and natural health product retail
markets via the “Thrive Wellness Brand”.
Project 470 Acres Ltd., Hemp Farm -
Postponed
Further to the letter of intent ("LOI") with Project 470 Acres
Ltd. ("470 Acres") announced in the Company’s news release dated
April 25, 2019 the Company has decided to postpone the development
of the hemp farm in Saskatchewan. The Company effected this
postponement so as to concentrate efforts and resources on the
development of the Oregon hemp farm, which already has a license to
produce and process hemp, and is well-positioned to capitalize on
the burgeoning hemp processing opportunity in Oregon. The Company’s
board of directors will re-visit the project early next year to
determine its feasibility moving forward.
Mountain Mellow Alberta
locations –Delayed
Further to the letter of intent ("LOI") with Mountain Mellow
Inc. ("Mountain Mellow") announced in the Company’s news release
dated April 25, 2019 the Company had entered into a non-binding
letter of intent (the "Mountain Mellow LOI") dated April 12, 2019,
to acquire a 25% ownership interest in five (5) Mountain Mellow
Alberta locations in exchange for cash and common shares of
Bougainville Ventures. The Mountain Mellow LOI has been delayed due
to current stage of AGLC approval for two (2) prime retail
locations in the Province of Alberta. Further updates will be
announced as information is made available.
ESEV - CBD Energy Drink
Formulation–Canceled
Further to the Israeli sponsorship research agreement announced
in the Company’s news release dated May 14, 2019 the Company’s
management has decided to cancel the sponsorship agreement due to
logistical issues. The Company’s board of Directors have approved
the terms of a Contract Production Agreement announced in the
Company’s news release dated July 23, 2019, (the “Production
Agreement”) with a Co-Packing Company to provide product
formulation and development, manufacturing, and distribution of our
dedicated line of Cannabidiol derived (“CBD”) products which
include the proprietary CBD blended the Company acquired from the
Island Biopharma Inc., acquisition. To learn more about what this
news means to the shareholders
visit https://marketnewsfirst.com/bog-news,
as well as the Company's website located at
http://bougainvilleinc.com/.
About Thrive Nutrition Products Ltd. Thrive
Wellness is a distributor of premium hemp and natural health
products with operations currently in Canada and the USA. Thrive
specializes in the development, marketing and distribution of
cannabinoid products refined into their own natural health product
brand. The company was founded in Vancouver, British Columbia and
is the first of its kind with national retail distribution in
Canada. Thrive has achieved $2,500,000 CDN in sales through retail
distribution, its' e-commerce website and their relationship with
Nutrition House, Canada's leading Natural Health Product franchise.
Founded in 1979 the company began franchising in 1993 and now
operates over 45 retail stores, located in high profile shopping
centers across Canada, and in the
USA. www.nutritionhouse.com
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 in both Canada and the United States. Along with our
flagship Hemp project in Oregon State and the Greenhouse campus in
Washington State, the Company has proprietary formulas for cannabis
edibles, topical, and tinctures.
On behalf of the Board of Directors BOUGAINVILLE
VENTURES INC.
Andy Jagpal, President and Director
For further information, please contact Zoltan, Investor
Relations Representative at:
604-722-0305 info@bougainvilleinc.com. Or
toll free at 1-877-517-7816
http://bougainvilleinc.com/
https://twitter.com/bougainvilleinc
www.thriveCBD.org
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.
Bougainville Ventures (CSE:BOG)
Historical Stock Chart
From Nov 2024 to Dec 2024
Bougainville Ventures (CSE:BOG)
Historical Stock Chart
From Dec 2023 to Dec 2024