Bougainville Ventures Inc. has entered the Canadian cannabis market through the signing of a binding letter of intent to acquire the assets and inventory of Gene Bank Research Inc., placing Bougainville in a strong position to capitalize on the market opportunities created by the new Cannabis Act.
About Gene Bank Research
Gene Bank has over 110 lab-tested craft strains developed by its team of knowledgeable breeders possessing over 17 years’ experience. These unique craft strains allow licensed producers to stand out in an increasingly generic and homogenized market.
The Gene Bank assets include:
- Seeds – a collection of many of the building block genetics of today’s top ranked strains from around the world and used by top breeders Clones – the healthiest genetic selections based on specific phenotype/genotype characteristics
- Adult Plants – thousands of plants grown out to select the strongest, healthiest, highest yielding and disease/mold resistance available Graphed plants – unique super strains created by graphing the industry’s hardiest strains with weaker more finicky varieties
Principle LOI Terms
- Binding LOI
- Transfer of 100% of Gene Bank’s assets and current inventory to Bougainville
- Payment of $5,000,000 of Bougainville shares, with the price of such BOG shares to be based on 5 day
- VWAP by reference to October 30, 2018
- Genetic Lab Reports
- All Proprietary Information
- Bank Accounts
- Business Deck
- Corporation Documents
CEO, Andy Jagpal Comments:
“The acquisition of Gene Bank greatly expands our reach through vertical integration with the ability to provide unique and highly valued strains of seeds and clones to the cannabis market. I am confident this acquisition can substantially enhance BOG’s market value.” 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.
We seek Safe Harbor.