Breaking News: AREV Brands International Ltd. Announces Approval to Build on Its Sorrento BC Property | Financial Buzz

Breaking News: AREV Brands International Ltd. Announces Approval to Build on Its Sorrento BC Property

AREV Brands International Ltd. (CSE: AREV), the Company announces that it has received the go ahead to build its 8,500 square foot facility from the Agricultural Land Commission.

The Agriculture Land Commission has approved the construction of an 8,500 square foot processing facility for farm crops. The site has been surveyed and engineering is complete. The company is on task and focused on preparing its Sorrento property for its hemp cultivation and seed license for breeding, which has been applied for. We have also potted approximately 3500 hops covering 17 varieties for extraction and use in our HopinoidZ sleep aid and anti inflammatory products to be sold in the United States. We are in the final stage of branding these now that the formulation is complete and will be launching a line of functional oil extracts with CBD in the US.

The company is in the final stages of completing the definitive agreement (previously announced on May 1) for the purchase of 50% of LB Anaheim Street LLC, which owns a 5,300 sq ft facility minutes from the Long Beach Port and holds the highly coveted Type 7N and shared-use commercial cannabis volatile manufacturing license that can be used for Volatiles and non-volatile solvent extraction, infusion processing (including edibles, topicals, and beverages), packaging and labeling and type S shared use Kitchen for producing edibles.

LBC Integrated Growers LLC, is a 100 acre Cannabis and Hemp Cultivation AG II zoned Property in Santa Barbara County, CA. In California the Type 7N Licence has a THC canopy size is limited to 30,000 sq ft per 100 acre parcel. CBD canopy sizes are currently unlimited. THC – Using BC Bud’s advanced genetics, we will plant a “short season crop” of auto flowering feminized seeds in March of each year. This yields a flowering crop in 6 weeks. A second planting of “long season crop” is then planted in May for harvest in September. High yielding CBD will be harvested from single Long Season planting of feminized Hemp seeds. The biomass yield will be supply to the Long beach location and the entire multi-crop yield is pre-purchased by LB Anaheim Street LLC.

The Company also announces the resignation of Colin Job as Chief Operations Officer and Director of the Company. With the recent departure of Mr. Shaxon and Mr. Job, a total of 3,500,000 options will be canceled, if not exercised in 30 days from the date of resignation, and be available for future use. The company will save over $250,000 per year as there are no further contractual obligations to Mr. Shaxon and Mr. Job.

CEO, Mike Withrow commented “The recent market conditions have not deterred the company from moving forward with its plans. We have a solid plan in place and we continue to be very careful with our spending as we build our company.”

For further information, contact Mike Withrow, / 778-379-8551.

On behalf of the Board,

Mike Withrow
CEO & Director

About AREV Brands International Ltd. 
AREV Brands International Ltd. (“AREV”) produces and delivers functional compounds and ingredients from its world-class extraction systems. AREV is revolutionizing the current delivery method of terpenes, cannabinoids and flavonoids. These premium ingredients and formulations are used in products targeted for sale in the natural health, medical, functional food, nutraceutical, sport nutrition and bioceutical markets. AREV innovates through extraction to produce extracts from specific selected plant and exude from trees that address 5 areas of health including Anxiety, Pain Management, Insomnia, Central Nervous System Disorders & Libido.

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