TORONTO, ON / ACCESSWIRE / June 16, 2015 / The Canadian Bioceutical Corporation (TSX VENTURE: BCC) ("BCC" or the "Company") and Roto-Gro International Limited, ("RIL") are pleased to announce that the two companies have entered into a cooperation agreement whereby BCC will acquire no less than 60 Advanced Model 420 Roto-Grow rotary hydroponic garden systems which have been specially adapted for the commercial production of medical cannabis. The agreement is conditional on applicable financing.
RIL has agreed to deliver and install the units at BCC's proposed medical marijuana production facility in Owen Sound Ontario and will provide training in the operation and maintenance of the equipment and with ongoing technical support.
"We are excited about the prospect of deploying the Roto-Gro technology as part of our cultivation strategy for medical cannabis," says Mark Krytiuk, VP of Operations for BCC's wholly-owned subsidiary BioCannabis Products Ltd. "The units produce plants with more uniform growing patterns and simplifies harvesting projections and scheduling. The Roto-Gro technology uniquely utilizes the effects of gravitropism within a modular hydroponic growing environment. The humidity, temperature, CO2, TDS, PH and nutrient levels are all computer monitored and controlled to produce the highest plant quality."
The state-of-the-art Roto-Gro technology results in greater flower production with significantly less energy input and nutrient usage. Additionally, as the units are stackable up to three units high, the space requirements are much lower than with typical pot and soil cultivation or with conventional hydroponic growing systems.
BCC also intends to utilize Roto-Gro technology to produce other plant varieties, extracts from which are used as active ingredients in its growing array of herbal-based nutraceutical products.
The Agreement also grants BCC a right of first refusal to acquire the exclusive right to acquire Roto-Gro units in Canada and provides for a commission to be paid to BCC in the event that it facilitates a sale to any future affiliated or indirectly-related medical cannabis producers in the U.S.
Additional details in relation to BCC's plan to enter into the medical marijuana sector may be found in the company's two News Releases of January 7, 2015 with the most recent update provided in BCC's News Release of May 11, 2015.
About Roto-Gro International Limited
Roto-Gro International Ltd. manufactures and sells a unique hydroponically-based rotational growing system. The Roto-Gro system utilizes the distinct advantages of gravitropism to produce abundant crops in less time, using half the electricity of conventional systems. Because the unit is able to be stacked, it can produce in excess of nine times the product per square foot of factory space compared to traditional hydroponics. Roto-Gro units are able to be equipped with an electronic management system that provides real time monitoring and control of all critical production variables allowing unprecedented product consistency and quality.
About The Canadian Bioceutical Corporation
BCC, formerly Allegiance Equity Corporation, is an Ontario corporation that, for over two decades has been developing unique standardized mass-market nutraceutical products for the treatment of common ailments where present pharmaceutical treatments and over-the-counter products fail to meet the needs of patients. BCC has targeted markets having clearly identified product deficiencies and dissatisfied consumers afflicted with a variety of medical conditions. BCC obtains regulatory approval and patents for these unique compounds and formulations and may produce and distribute or license its products for royalty revenues.
BCC's principal brands are CinG-X(TM), Reliéva(TM), and Psorberine(TM) and FertaMax. Additionally BCC, through its wholly-owned subsidiary BioCannabis Products Ltd. and, subsequent to receiving its MMPR license from Health Canada and the potential revision of the related regulations, intends to develop and market a series of new cannabis-based branded medicinal products to address this rapidly-evolving market.
Investors should be aware that companies cannot legally conduct a medical marijuana business without a license from Health Canada and that there is significant time and cost required to obtain such a license. As a publicly-traded company publicizing its intention to enter the medical marijuana industry, BCC urges potential investors in any company in this sector, to become familiar with the required resources and the related risks, costs implications and time required before a company will be able to begin licensed operations. There is no assurance that any company announcing its intent to enter the medical marijuana industry will be successful in obtaining a license or in creating shareholder value.
Cautionary Statement Regarding Forward-Looking Information
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to, the Transaction and BCC's objectives and intentions. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic and social uncertainties; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; delay or failure to receive board, shareholder or regulatory approvals; those additional risks set out in BCC's public documents filed on SEDAR at www.sedar.com; and other matters discussed in this news release. Although BCC believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, BCC disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the Policies of the Exchange) accepts responsibility of the adequacy or accuracy of this release.
For further information please contact:
Scott Boyes, President and CEO, The Canadian Bioceutical Corporation|
scott@canadianbioceutical.com
(416) 840-4703
Ralph Sickinger, President, Roto-Gro International Limited
(416) 294-0011
SOURCE: The Canadian Bioceutical Corporation
