VANCOUVER, British Columbia, April 10, 2019 (GLOBE NEWSWIRE) -- BOUGAINVILLE VENTURES INC. (CSE: BOG)
(8BV-FF:Frankfurt Stock Exchange) (the "Company") would like to announce that further to the
letter of intent (“LOI”) entered into a funding and profit sharing agreement with Worm Castings Farms Inc., (“Worm Castings”),
announced October 29, 2018, the Company is continuing to work with Worm Castings regarding its Hemp assets and is close to
finalizing the Definitive Agreement with the principals of Worm Castings. Worm Castings is the sole owner of an Oregon State Hemp
production and processing license, issued by the Oregon State Regulatory approval board. Upon finalization of the transaction Worm
Castings will be considering a name change from Worm Castings Farms Inc., to a name that better reflects its Hemp production and
CBD processing objectives. In addition,Worm Castings is exploring other Hemp and CBD production and processing related
opportunities.
President & CEO, Andy Jagpal Comments:
“The Farm Bill, which went into effect on January 1, 2019, is a monumental step for the hemp industry, and is a historic event
which will create a tremendous amount of opportunities for Hemp farmers, like Worm Castings, whose goal is to produce a Cannabidiol
(CBD) product used to treat various ailments and improve wellbeing.“
The Company would also like to announce that, in the name of transparency, until the company is profitable management salaries
will be capped at $5,000 per month for each of the two operating directors on an accrued basis. In addition, there is a stock
option plan for management and administration which will be 1,950,000 shares with a strike price of 25 cents.
Bougainville’s issued and outstanding share figure on the CSE profile has been updated to 58,625,424 to reflect the changes
announced in the news release disseminated April 8, 2019 in which 18,125,000 shares were cancelled. The company has issued 577,883
common shares and 492,883 common share warrants as securities for debt owed to consultants.
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.
For more information please visit: 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 andy@bougainville.com or 1-844-734-8420
