TORONTO, Sept. 24, 2019 /CNW/ - Pure Global Cannabis Inc.
(TSX.V: PURE; OTC: PRCNF; FRA: 1QS) ("Pure Global"), an
integrated growth-oriented sciences and consumer products cannabis
company, operating through its wholly-owned subsidiary PureSinse
Inc. ("PureSinse" or "Company" or "Pure"), is
pleased to announce the signing of a Joint Development Agreement
(the "Agreement") with KMT-Hansa Corp. (NEX: KMC-H)
("KMT") in respect of the processing, extraction,
cultivation and manufacturing of hemp and related products across
approximately 17,000 acres of land in the province of Yunnan (the "Project"). The Agreement
will take advantage of the Hemp International Industry Park Special
Economic Zone License granted to KMT by Yuanjiang County, Yuxi
City, Yunnan Province, permitting
the growth, cultivation, extraction and production of industrial
hemp products for export. The license registration process is
expected to complete within the next 60 days while operations are
setup.
Pure Global will be the management and development partner in
connection with the Project, with KMT providing the necessary
resources and personnel. Pure Global will be responsible for the
technology, know how, genetics and sales and distribution of hemp
products produced in connection with the Project. The Company will
design Good Manufacturing Practices ("GMP") compliant
facilities and manage the development and deployment of the Project
while overseeing the ongoing operations for the manufacturing and
cultivation of high-quality hemp products and by-products,
including cannabidiol ("CBD"). Pure will have the right of
first refusal to sell and distribute all manufactured products and
by-products in all international jurisdictions.
KMT will be responsible for securing and maintaining all
necessary permits and licenses with the Chinese Government and
Authorities to grow, extract, process and export CBD and hemp
by-products grown on the lands that have been government sanctioned
for the region's economic development.
Pure Global's CEO & President Malay Panchal commented, "We
are extremely excited to be the first Canadian LP to partner with a
Chinese group seeking to develop a project of this scale in
China. This strategic relationship
gives us access to KMT's resources and connections in China. They truly share our goal of providing
high-quality products that are sustainable to the environment and
developed using cutting-edge agricultural methods. We are extremely
happy to enter into this Agreement with a trusted partner who
shares our values, visions, and long-term goals. I was especially
thrilled by the warm welcome we received from the Chinese local,
state, and federal authorities on our recent visit and the
tremendous support they are willing to offer to make this project a
success for all stakeholders."
Both KMT and Pure Global value scaled production and
manufacturing methods that are eco-friendly, produce the highest
quality bulk CBD, and finished health and wellness products. The
Agreement will be the first step towards the two like-minded
organizations entering into a larger scale international production
agreement. The companies intend to move quickly to commence
operations and service the fast-growing consumer demand for CBD
isolate and finished products throughout Asia and over 50 international markets that
have legalized CBD.
Mr. Panchal further commented, "We are entering a very exciting
chapter in Pure Global's journey. In addition to this joint venture
with KMT, we have recently been granted our Health Canada oils
sales license, are close to approvals to commence scaled
cultivation and extraction at our Brampton facility, will soon be launching
several new premium consumer brands, and have other formative
developments to be announced in the near future. Together these
will accelerate Pure to becoming a global leader in the cannabis
sector."
About Pure Global Cannabis
Pure Global Cannabis Inc. is an innovation-based cannabis
company led by experienced pharma, biotechnology, horticultural,
and consumer packaged goods (CPG) experts. The Company's wholly
owned subsidiary, PureSinse Inc., is a licensed producer under the
Cannabis Act. The Company's Brampton campus houses facilities for
vertically farmed cultivation, R&D, extraction, manufacturing,
and distribution. Pure Global will produce branded and
white-labeled cannabis products for the medical, pharmaceutical,
wellness, health & beauty, natural health, food & beverage,
craft, and recreational legal markets with uniquely formulated and
purified concentrates and dried flower. The Company is using the
Canadian market as a springboard to develop and manufacture
GMP-compliant premium quality cannabis products for international
sale and distribution with a goal to become one of the most trusted
premium international cannabis brands.
About KMT-Hansa Corp
KMT-Hansa Corp. is registered in Anguilla and is currently listed on TSXV NEX.
HDD Investment Holdings Corp. acquired 51% of KMT-Hansa Corp. in
March of 2019. Under new management, KMT will move forward adopting
a business model focused on growth and building shareholders value
by way of directing our resources into viable development
opportunities. KMT is determined and driven to achieve a
diversified investment portfolio of high-growth opportunities.
FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking statements,
including, but not limited to, statements about Pure Global's
future plans and intentions. Wherever possible, words such as
"may", "will", "should", "could", "expect", "plan", "intend",
"anticipate", "believe", "estimate", "predict" or "potential" or
the negative or other variations of these words, or similar words
or phrases, have been used to identify these forward-looking
statements. These statements reflect management's current beliefs
and are based on information currently available to management as
at the date hereof.
Forward-looking statements involve significant risks,
uncertainties and assumptions. Many factors could cause actual
results, performance or achievements to differ materially from the
results discussed or implied in the forward-looking statements.
These factors should be considered carefully, and readers should
not place undue reliance on the forward-looking statements.
Although the forward-looking statements contained in this news
release are based upon what management believes to be reasonable
assumptions, Pure Global cannot assure readers that actual results
will be consistent with these forward-looking statements. These
forward-looking statements are made as of the date of this news
release, and Pure Global assumes no obligation to update or revise
them to reflect new events or circumstances, except as required by
law.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSXV)
accepts responsibility for the adequacy or accuracy of this
release.
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SOURCE Pure Global Cannabis Inc.
