Bougainville firms up Gene Bank Research acquisition.https://web.tmxmoney.com/article.php?newsid=8497394797297597&qm_symbol=BOG:CNX
2018-11-13 14:35 ET - News Release
Mr. Andy Jagpal reports
BOUGAINVILLE VENTURES INC. ANNOUNCES THE SIGNING OF A DEFINITIVE AGREEMENT TO ACQUIRE 100% OF THE SHARES OF GENE BANK RESEARCH INC.
Bougainville Venture Inc. has signed a definitive agreement dated Nov. 8, 2018, further to a news release dated Nov. 1, 2018, detailing the terms of the binding letter of intent.
Bougainville has signed a Definitive Agreement to acquire 100% of the shares of Gene Bank Research Inc. Gene Bank places Bougainville in a strong position to capitalize on the market opportunities created by the Cannabis Act that came into force in Canada earlier in 2018 (the "Cannabis Act"). Gene Bank offers a solution to bridge the gap between craft growers and licensed producers. Gene Bank has over 110 lab-tested craft strains developed by its team of knowledge breeders which collectively have over 17 years' experience in the industry. Gene Bank has positioned itself to capitalize on the new market opportunities brought in by the Cannabis Act and aims to be the largest proprietary genetic strain bank in Canada.
CEO, Andy Jagpal Comments: "The acquisition of Gene Bank greatly expands our reach into the Canadian cannabis market. Gene Bank offers a solution to bridge the gap between craft growers and licensed producers created by the new Cannabis Act. This places Bougainville in a strong position to capitalize on this new market opportunity."
About Bougainville Ventures, Inc.
Bougainville provides cannabis infrastructure and seed-to-sale services to I-502 tenant-growers leasing greenhouse facilities space and providing fully built-out, turnkey solutions and ancillary services including processing, cannabis expertise and marketing and sales resources. Greenhouse canopies provide a 50% saving in cultivation cost.