BlissCo Cannabis Changes Auditor to MNP LLP & Options Cancelled
Vancouver, British Columbia, Canada – May 3, 2018 – BlissCo Cannabis Corp. (CSE: BLIS) (“BlissCo” or the “Company”) announces that its Board of Directors have approved a change of the Company’s auditors. At the request of the Company, Dale Matheson Carr-Hilton Labonte LLP (the “Former Auditors”) has resigned as auditor of the Company effective April 16, 2018. The Audit Committee and board of directors of the Company have appointed MNP LLP as the successor auditor, effective April 16, 2018 (the “Successor Auditor”).
The Company has sent a Notice of Change of Auditor (the “Notice”) to the Former Auditor and Successor Auditor and has received a letter from each, addressed to the Alberta, British Columbia and Ontario securities commissions stating that they agree with the information contained in the Notice. The Notice together with the letter from the Former Auditor and the letter from the Successor Auditor have been reviewed by the Company’s Audit Committee and its Board of Directors and are available on www.sedar.com.
There were no disagreements or unresolved issues with the Former Auditor on any matter of the audit scope or procedures, accounting principles or policies, or financial statement disclosure. It is the Company’s opinion that there have been no “reportable events” (as defined in National Instrument 51-102 Continuous Disclosure Obligation) between the Company and the Former Auditor. The Former Auditor did not provide a modified opinion in their auditor’s report for the financial statements of the Company fiscal years ended April 30, 2016 and 2017.
On April 30, 2018, a director and two consultants surrendered for cancellation an aggregate of 2,040,000 stock options previously granted on February 23, 2018 at an exercise price of $0.30.
BlissCo earned its Access to Cannabis for Medical Purposes Regulation ACMPR License to Cultivate on Thursday, March 29, 2018. BlissCo's ACMPR facility in Langley, B.C. is designed to be a high-volume packager, processor and distributor of medical cannabis and adult use cannabis when it is legal in Canada, which is currently anticipated to be by August 2018 at the earliest. BlissCo has a two year supply agreement with The Supreme Cannabis Company Inc. to purchase premium dried cannabis curated over the last two years from imported cannabis seeds.
BlissCo will apply to expand its license to cannabis oil production in Q2 2018 and will apply for its cannabis sales license at the earliest appropriate time. BlissCo will focus on high volume sales opportunities in the regulated medical use and adult use cannabis market.
On Behalf of the Board of Directors
BLISSCO CANNABIS CORP.
Damian Kettlewell, CEO & Chair
For further information, please contact:
Damian Kettlewell, CEO
This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively "forward-looking statements"). The use of any of the word "will" and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such forward-looking statements should not be unduly relied upon. This news release contains forward-looking statements and assumptions pertaining to the following: the ability to execute on our strategic plans and the impact on our future operations, capital expenditures, receipt of a cannabis oil license and a license to sell dried cannabis and other objectives. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. The Company does not undertake to update these forward-looking statements, except as required by law.
The CSE has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
Strategic partnership with the Supreme Cannabis Company
Trading on Canadian Securities Exchange (CSE:BLIS)
ACMPR License to Produce earned
Cannabis plant starting material to arrive at BlissCo's facility and growing commences.
ACMPR Cannabis Oil Extraction License application submitted
ACMPR License to Sell application submitted
Confirmation of Readiness for Inspection received from Health Canada
Confirmation of Readiness for License from Health Canada
Close on purchasing facility for $2.4m
Earn Building Permit from Township of Langley
ACMPR Licensed Submitted
Damian Kettlewell, CEO & Founder
11+ years of experience as an entrepreneur in a licensed retail sector with a previous decade of experience in media, branding, public relations and stakeholder engagement.
Rob Kang, CFO
Corporate finance professional experienced in all aspects of Exchange policy, corporate governance and public company obligations. Director of Listed Issuer Services and held other positions with TMX Group from March 1992 to March 2015
Shawn McDougall, Production Manager
10+ years experience. Certified cultivator under the MMAR since 2007 and been providing solutions to MMAR facilities with HVAC & Indoor Controls.
Vipin Vikraman, Quality Assurance Manager
10+ years experience as a Quality Assurance Manager in packaged food, poultry and dairy industry. Extensive experience leading quality assurance, sanitation, product development teams and leading communication with federal agency inspectors.
Sean Ty, Controller
Over 7 years of experience in the accounting field. Articled at a medium-sized accounting firm in Vancouver. Joined a Big 4 accounting firm where he was an Assurance Manager.
Has extensive experience in both publicly and privately-owned companies in the resource, technology, real estate sectors.