OWEN SOUND, ONTARIO / ACCESSWIRE / January 12, 2015 / Following on its recent announcement of plans to enter the medical marijuana sector with a large development in Owen Sound, Ontario, The Canadian Bioceutical Corporation (TSXV:BCC) is pleased to announce that it has engaged Brampton, Ontario-based ITC Security Consultants to complete a detailed security system design, a threat and vulnernerability assessment and to compile a fully-comprehensive set of safety and security standard operating procedures.
"We did prepare a fairly detailed security plan which was incorporated into the license application which has already been sunmitted to Health Canada," notes Mark Krytiuk, VP Operations of BioCannabis Products Ltd., the BCC subsidiary which is launching the medical cannabis project. "However, we are firm in our commitment to the safety and security of the premises, not only to assure security and control over the company's inventory and equipment, but to also provide for the safety and security of our employees and of the community at large", adds Krytiuk.
The design plan prepared by ITC will be completed in consultation with the Owen Sound Police Department as required and, once the plan's specifications are fully implemented, BCC's operations will be assured of full compliance with Health Canada's Physical Security Requirements for the Storage of Controlled Substances and Health Canada's Building and Production Security Requirements as stipulated under the Medical Marijuana for Medical Purposes Regulations (MMPR).
Additional details in relation to BCC's plan to enter into the medical marijuana sector may be found in the company's two News Releases of January 7, 2015.
About ITC Security Consultants
ITC Security Cunsultants, a division of the Interlink Trade Corporation, is managed by a group of dedicated professionals who work together to help develop unique safety and security programs for individual and corporation needs.
Its consultants are highly skilled individuals with extensive experience in law enforcement, the military and corrections. Togther, they enjoy over 120 years of combined experience investigating and dealing with a variety of serious crimes. This experience allows ITC to look at safety and security from an Investigative mindset and to offer innovative crime prevention and safety solutions for its clients.
ITC has established strong relationships with some of the industry's leading MMPR consultants, lawyers and advocates. These partnerships allows it to stay at the cutting edge of the latest news and upcoming changes to the guidance documents expected from Health Canada. With its vast experience in the medical cannabis sector, it understands the safety and security issues surrounding MMPR sites, the corresponding liability concerns, and how to mitigate them. This not only benefits the facilities themselves, but the people in the surrounding neighbourhoods and the community at large.
About The Canadian Bioceutical Corporation
BCC, formerly Allegiance Equity Corporation, is an Ontario corporation that, for over two decades has been developing unique standardized mass-market nutraceutical products for the treatment of common ailments where present pharmaceutical treatments and Over-the-Counter (OTC) products fail to meet the needs of patients. BCC has targeted markets having clearly identified product deficiencies and dissatisfied consumers afflicted with a variety of medical conditions. BCC obtains regulatory approval and patents for these unique compounds and formulations and may produce and distribute or license its products for royalty revenues.
BCC's principal brands are CinG-X(TM) and Relieva(TM) and the company, through its subsidiary BioCannabis Products Ltd., will shortly be launching a series of cannabis-based branded products to address this rapidly-evolving market.
CSA Investor Caution
Investors should be aware that companies cannot legally conduct a medical marijuana business without a license from Health Canada and that there is significant time and cost required to obtain such a license. As a publicly-traded company publicizing its intention to enter the medical marijuana industry, BCC urges potential investors in any company in this sector, to become familiar with the required resources and the related risks, costs implications and time required before a company will be able to begin licensed operations. There is no assurance that any company announcing its intent to enter the medical marijuana industry will be successful in obtaining a license or in creating shareholder value.
Cautionary Statement Regarding Forward-Looking Information
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to, the Transaction and BCC's objectives and intentions. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic and social uncertainties; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; delay or failure to receive board, shareholder or regulatory approvals; those additional risks set out in BCC's public documents filed on SEDAR at www.sedar.com; and other matters discussed in this news release. Although BCC believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, BCC disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the Policies of the Exchange) accepts responsibility of the adequacy or accuracy of this release.
For further information please contact:
Scott Boyes, President and CEO
scott@canadianbioceutical.com
(416) 223-6874
SOURCE: The Canadian Bioceutical Corporation