focusing on sustainable low cost, high quality cannabinoid production and procurement for Pharmaceutical and consumer infused products
Multinational cannabis company laying the foundation to aggressively pursue the greatest recreational markets on the planet.
Cannabis Production Facility in Salinas, California
Salinas greenhouse facility is currently operating 60,000 sq. ft. licensed canopy and contains ample room for expansion. The facility is also licensed for manufacturing and for distribution.
- In late December completed first harvest at Salinas, California cultivation facility.
- Harvested 2,687 plants that were included in the acquisition of the Qlora Group.
- Company anticipates completing testing and sale of the product in late January 2020, which will represent the first revenue generated by the Company in California.
- The Company has also completed an in-depth review and analysis of both the infrastructure and cultivation practices and will be implementing significant efficiencies over the course of the next four harvests.
- Company anticipates continual harvests of 2,000-3,000 plants every 25 days, with quality and yield improving with each harvest.
- Product will be sold via wholesale agreements to existing Qlora clients in the interim as we prepare for the launch of NORTHBUD branded flower products in California in the third quarter of 2020.
“Despite challenges faced by the cultivation team during this period of transition, we are extremely excited to be harvesting our first crops and look forward to continual improvements as we implement procedural and infrastructure efficiencies,” said Justin Braune, President of Bonfire Brands USA, a wholly owned subsidiary of NORTHBUD.
Cannabis Production Facility in Reno, Nevada
Assumed control of Nevada operation licensed for cultivation, manufacturing and distribution throughout the state.
- Announced the completion of the first harvest of approximately 175 indoor grown plants
- Upon the completion of testing and processing, the product will be distributed as NORTHBUD flower, pre-rolls and infused pre-rolls into selected Nevada dispensaries.
- The launching of NORTHBUD branded products into Nevada marks a significant milestone for the Company.
Request for Outdoor Cultivation License:
On September 18, 2019, the Company received a confirmation of receipt of the site evidence package submitted in late August 2019. On November 22, 2019, the Company received a request for information from Health Canada. The Request was received within the 60-business day service window for feedback provided by the regulator. The Company is pleased to report that the Request was responded to in full in advance of the December 8th deadline. The Request did not contain any notices of deficiencies in the Company’s cultivation licence application nor did it require the Company to make any modifications or changes to its facility.
On December 19, 2019 the Company received a subsequent follow-up request for information consisting of two questions which were responded to that same day, and on December 20th, the Company received a request to clarify the roles of recently-hired employees in relation to the requested cultivation licence. This request was responded to in full on January 3, 2020. The Company has received no further communication from Health Canada.
The Company is confident that the approval process is on track and within comparable timelines experienced by other publicly-traded companies who have recently submitted evidence packages. At this time, the Company cannot predict when it will be granted a cultivation licence by Health Canada. The Company will update shareholders on any further progress on the application.
SITE DETAILS: LOW COST INFRASTRUCTURE
- North Bud will focus on GMP standardized production to be used by our pharma commercialization partners i.e. Tetra Bio-Pharma We will focus on securing unique strains containing high amounts of specific cannabinoids not typically found in recreational cannabis.
Food Grade Inputs
- Using licensed encapsulation technology we will engage existing food and beverage companies looking to develop product lines containing cannabis.