GNCC Capital, Inc. Updates On Its Recently Acquired Colombian Cannabis Company
BioCann Pharma Management introduces their business to GNCC Shareholders
LAS VEGAS, March 18, 2019 /PRNewswire/ -- GNCC Capital, Inc. (OTC: GNCP) ("The Company" or "GNCC") announced on February 21, 2019 that it had completed the acquisition of BioCann Pharma S.A.S. ("BioCann"), a Cannabis CBD Pharmaceutical Grade Oils Producer and Distributor, incorporated in and operating in the Republic of Colombia ("Colombia") and with offices in Ontario, Canada.
Further to that announcement, we confirm that BioCann has appointed their first Director, Paula Andrea Victoria to the GNCC Board on March 6, 2019, a link to this appointment: https://backend.otcmarkets.com/otcapi/company/financial-report/213059/content.
The outgoing Directors of GNCC depart on March 31, 2019, being the close of the "transition period". BioCann will be appointing additional Directors to the GNCC Board on or before that date.
In the interests of providing complete transparency to investors and to our shareholders, we confirm that GNCC joined the OTC Markets Transfer Agent Verified Shares Program on March 4, 2019, a link to this filing: https://backend.otcmarkets.com/otcapi/company/financial-report/212971/content
BioCann Management in this communication with shareholders sets out an initial overview of their existing business interests and confirms that BioCann has an equal partnership with Instadose Pharma S.A.S. in Colombia, which is a subsidiary of Canadian based Instadose Pharma Corp. ("Instadose"), www.instadosepharma.com. BioCann has sole and exclusive rights with Instadose in Colombia in terms of their partnership agreements. Instadose also has significant and at present, unrelated Cannabis interests in Africa.
Instadose owns in a Joint Venture, a licensed processing and manufacturing facility which is GMP Certified and complies with EU Pharmacopoeia Standards. This facility with the necessary Laboratories is located in Bogota, Colombia, where it extracts the CBD Oil isolate in pharmaceutical grade as is required by BioCann.
BioCann is responsible for the sourcing and acquisition of the Cannabis a/k/a Biomass and from Licensed Growers in Colombia and in the Cundinamarca, Valle del Cauca and Antioquia regions. This is Biomass that is suitable for Pharma grade oil extraction, complying with the quality assurance and growing standard operating procedures as established by Instadose's scientific department.
BioCann at present will be generating its revenues and profits through the bulk sale of these various Pharmaceutical Grade CBD Oils through distribution channels in Colombia and throughout Latin America.
BioCann Management confirms it is involved in a number of ongoing discussions with a view to establishing additional partnerships in order to further diversify and into value added products in the Cannabis Industry. BioCann envisages that additional information pertaining to these partnerships could well be provided to shareholders in the coming week. As promised, BioCann's Management will continue to familiarize shareholders with the business, based upon shareholder requests for further information.
It is noted that neither BioCann, its Partners and Joint Venture Associates do not operate in, nor sell or market any products in the USA due to Federal Laws prohibiting the same.
The GNCC Directors confirm that they will be updating shareholders on other matters such as outstanding Quarterly and Annual Reports as well as proposed actions relating to the GNCC portfolio of Mining Exploration Properties.
Forward-Looking Statements:
This press release may contain forward-looking statements. The words "believe," "expect," "should," "intend," "estimate," "projects," variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company's current expectations and are subject to a number of risks, uncertainties and assumptions. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks that are detailed in the Company's filings, which are on file with the OTC Markets Group.
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SOURCE GNCC Capital, Inc.
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