Breaking News: Blueberries Medical Commences Formal Development Process for the Cultivation of Cannabis in Jujuy Argentina | Financial Buzz

Breaking News: Blueberries Medical Commences Formal Development Process for the Cultivation of Cannabis in Jujuy Argentina

Blueberries Medical Corp. (CSE: BBM) (OTCQB: BBRRF) (FRA: 1OA) (the “Company” or “Blueberries“), a Latin American focused licensed producer of medicinal cannabis and cannabis-derived products, is pleased to announce that it has commenced the Phase 1 planning process with Argentinian state owned cannabis company Cannabis Avatara, S.E. (“Cannava”) in connection with the cooperation agreement entered into under the scope of the “Provincial Program of Promotion of the Cultivation and Production of Cannabis with Scientific, Medicinal and Therapeutic Purposes of the Province of Jujuy in Argentina” (the “Joint Venture”), through its agreement with BBV Labs Inc. as recently announced by the Company.

The first phase of the Joint Venture project will be a Pilot Cultivation Program (the “Pilot Project”) and consists of the preparation and cultivation of cannabis on a 107,000 square foot (1 hectare) area on public lands provided by Cannava with the goal of producing 4 million grams (4,000 kg) of dry cannabis flower and approximately 400,000 milliliters (400 liters) of cannabis oil. The Pilot Project will also evaluate and characterize cannabis seeds and strains that are ideal for the climate conditions of Jujuy, and document the proposed operating procedures, technical processes, strains and products that the Joint Venture is seeking to produce. The Company is in the process of preparing the proposed Pilot Project plan for Cannava’s approval and processing of the applications for the permits as required, with the goal of completing the Pilot Program by May 2020, with an estimated capital requirement of $750k to $1M.

“We are very excited to have formally commenced Phase 1 of this project with our Joint Venture partners as we begin the planning for the development of a world class cultivation, extraction, formulation and manufacturing facility in Jujuy, Argentina,” stated Camilo Villalba, Chief Operating Officer of the Company. 

As part of the Phase 1 preparation process, Blueberries and Cannava have conducted meetings to: 

  1. Formally introduce the teams and initiate the scope of the Joint Venture to develop and progressively cultivate cannabis in a scalable project on public lands, under the scope of the Provincial Program of Promotion of the Cultivation and Production of Cannabis with Scientific, Medicinal and Therapeutic Purposes of the Province of Jujuy in Argentina.
     
  2. Determine preliminary steps required to design, prepare and undertake the Pilot Project within the public lands that Cannava will identify in accordance with its plans and ongoing projects.
     
  3. Identify and select an initial 107,000 square foot (1 hectare) area to undertake the Pilot Project.
     
  4. Identify the specific permits and authorizations that the Joint Venture will require from provincial and federal authorities to effectively accomplish each phase of the project, including but not limited to the authorization from the National Institute of Agricultural Technology or INTANational Institute of Seeds or INASE, National Service of Health and Quality for Agriculture and Nutrition or SENASA, as well as custom permits for the import of the cannabis seeds to be selected by the parties for the project.

Upon successful execution of the Pilot Project, the parties expect to commence the commercial production phase of the Joint Venture project. Blueberries will present to Cannava a proposed Definitive Cultivation Plan for the Joint Venture. Commercial production under the Joint Venture will commence upon Cannava’s approval of the proposed Definitive Cultivation Plan and the receipt of all definitive permits for the cultivation, manufacture, distribution and export of cannabis derivative products from federal government to be obtained by Cannava with the support of the Company.

About Blueberries Medical Corp.
Blueberries is a Latin American licensed producer of naturally grown premium quality cannabis with its primary operations ideally located in the Bogotá Savannah of central Colombia and operations currently being established in Argentina. The Company is led by a specialized team with proprietary expertise in agriculture, genetics, extraction, medicine, pharmacology and marketing, Blueberries is fully licensed for the cultivation, production, domestic distribution, and international export of CBD and THC-based medical cannabis in Colombia. Blueberries’ combination of leading scientific expertise, agricultural advantages and distribution arrangements has positioned the Company to become a leading international supplier of naturally grown, processed, and standardized medicinal-grade cannabis oil extracts and related products.

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