Bougainville Venture Inc. has signed a definitive agreement dated Nov. 8, 2018, further to a news release dated Nov. 1, 2018, detailing the terms of a binding letter of intent.
Bougainville Venture has signed a definitive agreement to acquire 100 per cent of the shares of Gene Bank Research Inc. Gene Bank Research places Bougainville Venture in a strong position to capitalize on the market opportunities created by the Cannabis Act, which came into force in Canada earlier in 2018.
Gene Bank Research offers a solution to bridge the gap between craft growers and licensed producers.
Gene Bank Research has over 110 lab-tested craft strains developed by its team of knowledge breeders, who collectively have over 17 years of experience in the industry. Gene Bank Research has positioned itself to capitalize on the new market opportunities brought in by the Cannabis Act and aims to be the largest proprietary genetic strain bank in Canada.
Andy Jagpal, chief executive officer of Bougainville Venture, commented:
“The acquisition of Gene Bank greatly expands our reach into the Canadian cannabis market. Gene Bank offers a solution to bridge the gap between craft growers and licensed producers created by the new Cannabis Act. This places Bougainville in a strong position to capitalize on this new market opportunity.”
About Bougainville Ventures Inc.
Bougainville Ventures 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-per-cent saving in cultivation cost.
We seek Safe Harbor.