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Pasha Brands Ltd. (CSE: CRFT) Corporate Overview
About Pasha Brands
Pasha Brands is a vertically integrated prohibition-era brand house that is firmly rooted in BC’s craft cannabis industry, which boasts a reputation as the worlds best.
With a proven history in cannabis cultivation, genetic research and development, product processing, and retail, Pasha is uniquely positioned in the new legal cannabis market through its network of hundreds of craft cannabis professionals under the company umbrella.
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Pasha Brands Ltd. (CSE: CRFT) latest corporate News
Health Canada has created new opportunities for small – scale producers, known as Micro Cultivators (MC) to enter the market.
Micro – cultivators are not able to sell directly to the public for recreational use and must sell to Licensed Producers (LP) or Standard Processors (SP).
Pasha estimates that EACH of the licensed MCs will produce approximately 500 kg of flower per year. At $5,000 per kilogram, this could result in annual revenues of up to $2,500,000 per mc.
The lab and its experts can produce on- the- spot and incredibly accurate results along with explanations.
Many wonderful craft cannabis brands make up the Pasha Family, and there is a unique opportunity to sell them all under a collective retail storefront.
With the British Columbia government deciding to allow privately owned retail stores to operate in the province, Pasha is in the process of assembling licensed retail storefronts in B.C.’s key markets such as Vancouver, Victoria, Kelowna, Vernon and Kamloops.
Stores will be designed with a west coast vibe and influenced by the neighborhood in which operated in. All staff will be highly trained by experts with years of experience in all facets of the cannabis industry and armed with the most up – to – date POS cannabis software.
Sept. 16. 2019 - Pasha Brands Pens Supply Agreement with Canada's First Licensed Outdoor Micro Cultivator, Tamara Follett
Pasha Brands Ltd. announced that its wholly owned subsidiary, BC Craft Supply Co. Ltd (“BC Craft“), has signed a supply agreement with Canada’s first licensed outdoor micro cultivator, Tamara Follett (“Tamara“).
Following the announcements of supply agreements with Canada’s first micro cultivation and micro processing licensees, Hearst Organic Cannabis and North 40 Cannabis (respectively) last month, the supply agreement with Tamara represents another historic milestone for both Pasha and the cannabis industry in Canada. 85 per cent of the Canadian cannabis supply is still largely sourced from illicit producers who have not embraced or been welcomed into the regulated supply chain.
“Tamara represents so much about why we created Pasha and the BC Craft platform,” commented Patrick Brauckmann, Executive Chairman of Pasha. “Far too many small businesses were passed over and forgotten when this government designed legalization. Small producers like Tamara are the heart of craft cannabis and the soul of the cannabis industry.”
Based in St. Stephen, New Brunswick, Tamara received her licence from Health Canada on September 13, 2019. Under the agreement with Pasha, Tamara will supply BC Craft with her annual production, to be sold as dried flower in Canada, and through Pasha’s subsidiary this product will be resold as packaged flower into the regulated supply chain in Canada.
“I’m thrilled to be working with Pasha and expanding my love of growing cannabis on a larger scale,” said Tamara. “As a small business operator, I’m always looking for service providers that allow me to focus on my core competency.”
With Canada’s current licensed cannabis producers only able to supply an estimated 15 per cent of what Canadians are consuming, Pasha is optimistic that each micro cultivator BC Craft has in its supply chain will help correct the cannabis supply imbalance and bring exciting new products to market. Each micro cultivator in Canada will be able to produce approximately 500 kilograms of cannabis per year, while each micro processor can process up to 600 kilograms of cannabis per year. Canada has tens of thousands of craft producers operating in the illicit cannabis market and Pasha’s wholly-owned subsidiary BC Craft Supply Co. is focused on helping as many small farmers transition into the regulated market as possible.
Sept. 14. 2019 - Pasha Brands Critical of Post-Prohibition Cannabis Enforcement
Pasha Brands Ltd. released a statement asking for the full expungement of criminal records for those charged under previous cannabis laws. Canada is one of the first countries to admit that prohibition has been a failure and been harmful for people and its economy on a variety of levels.
Earlier this week, stats were released around the expedited pardons for cannabis offences made available under Bill C-93. With only 44 pardons granted to date, the people at Pasha feel this effort is not enough to undo the harms of prohibition. In an article on their website (www.pashabrands.com), Pasha quotes both Prime Minister Justin Trudeau and MP Bill Blair discussing the inequality of past enforcement of cannabis laws. It also points to studies showing how this inequality was especially hard on minority communities.
“These laws were applied unfairly,” said Pasha Executive Chairman Patrick Brauckmann. “They are still being applied unfairly, and there are people still in jail for cannabis offences.” One of the first casualties of cannabis enforcement just one month after legalization was an Indigenous man in Winnipeg, who was sentenced to almost a year in jail for 85 grams of cannabis. Meanwhile they say, authorities turn a blind eye to some Health Canada licence holders who break the rules, like the one that shipped 12,000 kilograms of illegally grown cannabis across the country and to Denmark. That should have resulted in jail time and massive fines, but authorities have not imposed either.
“It’s not that we think anyone should go to jail for cannabis; they shouldn’t,” said Jamie Shaw, Chief Communications and Culture Officer, “but neither should we be continuing the same discrimination and inequality that prohibition enabled.” Pardons are not enough she says, explaining that the difference between a pardon, and expungement is that a pardon essentially ‘forgives’ the person in question. “When the law was wrong, you shouldn’t need forgiveness, and it shouldn’t continue to affect your life.”
John Conroy, a long-time civil rights advocate and lawyer who has been involved in multiple cannabis cases, including the Allard decision that granted patients the right to grow their own cannabis, agrees pardons don’t go far enough. He points out that a pardon really means the record is “moved into a different filing cabinet” and that it can be revoked in certain circumstances. “The problem in this day and age is that simply having your name in a digital database associated with some prior conduct can lead authorities to deny you something,” he said.
“What we need, if it is at all possible, is a sanitizing of all government digital databases and particularly law enforcement databases, including Customs and Excise,” said Conroy. “By searching for the word ‘cannabis’ or ‘marijuana’ in all these databases and deleting from them any data or details that are potentially prejudicial simply because of an association to circumstances in which cannabis was involved.”
Pasha Brands calls for a proper review of post-prohibition enforcement, citing that people of colour and marginalized individuals in Canada continue to be disproportionately subjected to the enforcement of new cannabis laws, while authorities seem to turn a blind eye to corporate cannabis rule-breakers.
Sept. 12. 2019 - Pasha Brands makes Historic Submission to the BC Liquor Distribution Branch to Transition Prohibition Era Brands
Pasha Brands Ltd. announce that it has submitted a product call application package in consideration for supplier approval from the BC Liquor Distribution Branch (BCLDB), in hopes of becoming the first vendor to supply British Columbia’s provincial distributor with craft cannabis products. This is the second application of its kind for Pasha, the first being for the Ontario Cannabis Store (OCS) earlier this year, and marks the company’s ability to bring quality craft cannabis products from recognized pre-legalization brands to market in an efficient and timely manner.
Through Pasha’s numerous craft brands, this application offers the Province of British Columbia the opportunity to access to its differentiated consumer-focused products from accomplished local brands and Canadian craft farmers. By way of its recently acquired Vancouver Island-based licensed producer, MedCann, currently undergoing a name change, Pasha will process wellness-use craft products including pre-rolled premium flower, extracts, capsules, edibles, vaporizer oils, and topicals.
Pasha is proud to submit products from its prohibition-era brands family, brands firmly rooted in British Columbia’s craft cannabis industry, to the BCLDB – the only public legal retailer of cannabis in the province. Brands included in the 32-product initial application package include several brand names and production formulations: CBD Therapeutics (CBD isolates and oil formulations), Beard Brothers Collective (cannabis oils, vape pen inhalants, and shatter distillates), Theraveda (craft cannabis flower), Aurion (Craft cannabis gel capsules, distillates, and vape oil products), Roll Model (premium flower pre-rolls and vape oils), Grizzlers (sativa and indica flower pre-rolls), and Earth Dragon Organics (CBD-infused skincare and bath products).
Submitting this application to the BCLDB signifies that Pasha and its subsidiaries are ready to enter the legal market with these products. “These brands were built by people with long-range vision and, for most, their narratives are small business established by locals in British Columbia,” said Dr. Brigitte Simons, Chief Scientific Officer at Pasha Brands, who oversaw the submission. “It’s time to bring these highly sought-after craft products to the BC consumers who love them.”
Jason Longden, CEO of Pasha, added, “Seeing all the Pasha brands coming together and creating a team transitioning from the traditional market to offer unique craft cannabis products is really exciting. It will be a privilege to share our mindfully developed products with a larger demographic.”
Sept. 10. 2019 - Pasha Brands Announces Acquisition of Pre-Roll Brand Roll Model
Pasha Brands Ltd. announces the acquisition of the brand Roll Model. The brand previously formed the basis for a leading pre-legalization manufacturer and purveyor of premium cannabis pre-rolls based in Vancouver, BC. Through its licensed subsidiary, Medcann Health Products Ltd. (“Medcann“), Pasha expects to be able to have Roll Model pre-rolls on the shelves of preferred licensed retailers by the end of Q4.
“We are thrilled to have Roll Model join our family of legacy brands,” said Patrick Brauckmann, Executive Chairman of Pasha Brands. “Its established reputation for quality and the craft market made this acquisition a must for Pasha, and I’m sure Canadian cannabis consumers will appreciate the craftsmanship behind the brand as much as we do.”
Under its previous owners, the Roll Model brand developed a following and reputation for providing an elevated smoking experience to cannabis consumers by using only the highest quality, lab-tested BC bud, in a well-crafted and convenient pre-rolled format. While pre-rolls are often thought to consist of poor quality “shake” or “trim”, products marked under the Roll Model name have always been produced with premium craft cannabis grown in British Columbia. Pasha expects that its subsidiary Medcann will soon be in a position to manufacture pre-rolled joints using cannabis grown by micro cultivators which have joined Pasha’s network of craft producers.
“Joining the Pasha family means the Roll Model name will continue its mission of providing a premium cannabis experience and reducing stigma for cannabis in the legal market,” said creator John Lee in reaction to the news. “We couldn’t have found a better home for the brand. Pasha is mission-driven to honour and bring prohibition-era people and products to market, and it’s a privilege to be working with such a group.”
Pasha has acquired all of Roll Model’s trademarks, names, and intellectual property, and will re-launch the brand in the Canadian regulated market in the coming months. Already, Roll Model products have been included in several product offering packages presented to provincial wholesalers, including Ontario and British Columbia.
Sept. 4, 2019 - Pasha Brands Acquires Iconic Brand Baked Edibles
Pasha Brands Ltd. announced it has acquired the brand “Baked Edibles” (“Baked Edibles“), previously used by Canada’s longest-running commercial cannabis bakery. In its previous iteration, Baked Edibles was an iconic pre-legalization brand that served Canadians for years and will now take its place among leading edible brands in the regulated market.
Under previous ownership, from its base in Victoria, Baked Edibles supplied premium edibles, cannabis oils, capsules, and topicals to the Canadian market beginning in 2015, following the R v. Smith Supreme Court ruling, which declared the legal right to possess cannabis derivatives for medical purposes. In addition to an exceptional line of products, Baked Edibles differentiated itself from other grey market edibles brands by sourcing high quality ingredients, and, in the interest of public health and safety, providing customers with valuable product information and dosing guidelines. It was also the first cannabis bakery in Canada to receive a municipal business licence.
In obtaining the Baked Edibles brand and its associated intellectual property, Pasha will rework the brand’s product line-up to better suit Health Canada’s forthcoming amendments to the Cannabis Act, while maintaining the Baked Edibles spirit by utilizing existing recipes and using high quality ingredients.
A long-time favourite in the grey market among consumers, the Baked Edibles name formed the basis for an operation that was a pioneer in the areas of dosage control, best-in-class standard operating procedures, and product consistency.
“This is a natural fit for Pasha and exemplifies our approach to bringing authentic cannabis brands into the legal marketplace,” said Jason Longden, CEO of Pasha. “Baked Edibles has been a force in the Canadian cannabis industry and has inarguably set the standard of what high quality edibles should be. With Health Canada regulations for edibles and consumables anticipated in the coming months, we look forward to further developing our product offering.”
See full news release here: https://www.newswire.ca/news-releases/pasha-brands-acquires-iconic-brand-baked-edibles-891022925.html
Aug. 12, 2019 - Pasha Brands Secures Supply Agreement with Canada's First Licensed Micro Processor, North 40 Cannabis
Pasha Brands Ltd. (“Pasha“) (CSE: CRFT) (OTC:CRFTF) (FSE:ZZD), North America’s largest craft cannabis brand house, is pleased to announce that its wholly owned subsidiary, BC Craft Supply Co. Ltd (“BC Craft“), has signed a supply agreement with Canada’s first licensed micro processor, North 40 Cannabis (“North 40“).
Founded by Gord Nichol in Nipawin, Saskatchewan, North 40 Cannabis received its micro-cultivation and micro-processing licences from Health Canada on July 26, 2019. Under the agreement with Pasha, North 40 will supply BC Craft with North 40’s annual production, to be sold as dried flower and other cannabis products in Canada.
“I’m absolutely thrilled to have signed an agreement with a company like Pasha,” said Gord Nichol, founder of North 40 Cannabis. “They have shown micro cultivators like me that they are dedicated to ensuring craft producers in Canada will flourish under legalization. I’m excited to move ahead and looking forward to our first harvest this year.” North 40 Cannabis will plant its first legal crop in August 2019 and harvest later in the fall.
With Canada’s current licensed cannabis producers only able to supply an estimated 15 per cent of what Canadians are consuming, Pasha is optimistic that, in addition to its previously established supply agreement with Hearst Organic, this new supply agreement with a licensed micro cultivator and micro processor will help correct the cannabis supply imbalance and bring exciting new products to market. Each micro cultivator in Canada will be able to produce approximately 500 kilograms of cannabis per year, while each micro processor can process up to 600 kilograms of cannabis per year. Canada has tens of thousands of craft producers operating in the illicit cannabis market and Pasha’s wholly-owned subsidiary BC Craft Supply Co. is focused on helping as many small farmers transition into the regulated market as possible.
“Signing this agreement with Canada’s first micro processor is very significant as it affirms BC Craft’s business model with not only the micro-cultivation market but also now with processors,” said Jason Longden, CEO of Pasha Brands in reaction to the news. “North 40 has established a state-of-the-art cultivation and processing facility and we are proud to work with such an innovative team. This is simply the next step in fulfilling our goal of becoming the biggest producer of craft cannabis products in Canada and I’m confident North 40 will help us bring Canadians more of the cannabis that they’re looking for.
Aug. 7, 2019 - Pasha Brands Receives Clearance from the Depository Trust Company
Pasha Brands Ltd. (“Pasha” or “Company“) (CSE: CRFT) (OTC:CRFTF) (FSE:ZZD), today announced that the Company has secured eligibility by the Depository Trust Company (DTC) for its shares on the OTC Markets.
The DTC is a subsidiary of the Depository Trust & Clearing Corporation (DTCC), which manages the electronic clearing and settlement of publicly traded companies in the United States. Securities that are eligible to be electronically cleared and settled through the DTC are considered DTC-eligible. Pasha’s common shares are now fully DTC-eligible, and trade under the symbol “CRFTF” on the OTC Markets. This electronic method of clearing securities speeds up the receipt of stock and cash, and thus accelerates the settlement process for investors.
“We are very pleased to have obtained DTC eligibility,” said Patrick Brauckmann, Executive Chairman of Pasha Brands. “This status will make the process of trading our stock in the United States much easier. We expect that this will make our shares available to a larger percentage of the investment market, which should improve the liquidity of our shares and therefore benefit Pasha and our shareholders.”
Established in 1973 under the incorporation laws of New York for trust companies, the DTC has grown to one of the largest securities depositories in the world holding securities valued at upwards of $54 trillion (2017).
July 31, 2019 - Pasha Brands Announces Acquisition of Leading Topicals Brand Earth Dragon Organics
Pasha Brands Ltd. (“Pasha“) (CSE: CRFT) (OTC:CRFTF) (FSE:ZZD), Canada’s largest craft cannabis brands organization, has announced the acquisition of a national brand known as Earth Dragon Organics – a leading pre-legalization manufacturer and purveyor of small batch cannabis-infused topicals, based in British Columbia.
Since its inception in 2012, Earth Dragon Organics has typified the variety of smaller, female-led and patient-focused businesses that flourished during cannabis prohibition. Earth Dragon Organics supplied THC- and CBD-infused topical products to those seeking relief from muscle pain, arthritis, nerve pain, migraines, and multiple sclerosis, among other conditions, combining cannabis with local, organic ingredients including arnica and essential oils to harness the qualities of THC and CBD.
“Becoming part of the Pasha Brands family is a huge milestone for Earth Dragon Organics in that it will allow us to scale up and make these handmade, craft products more available to the entire country,” said Tessa Serra, founder of Earth Dragon Organics and Pasha’s newly hired product manager. “This partnership is a great match and I’m looking forward to the evolution that is about to take place.”
The line of handmade products including balms, creams, body butters, sunscreen, bath salts and more are not currently available as all sales have ceased to prepare their entrance to the regulated framework with product manufacturing located at Pasha’s licenced processing facility on Vancouver Island. Pasha has acquired all of the brand’s trademarks, names and intellectual property and will re-launch the brand in the Canadian regulated market after the appropriate regulations is passed on October 17, 2019. According to the federal Canadian Cannabis Survey 2018, in the last year alone, the number of Canadians using topicals for pain relief has doubled (from seven to 14 percent).
“This is exactly the kind of business legalization has been leaving behind, and Pasha is honoured to help bring Tessa’s passion for creating sustainably made, handcrafted cannabis-infused topicals into the legal market,” said Patrick Brauckmann, Executive Chairman of Pasha Brands. “We’re lucky to have her skillset as a product developer and manufacturer on the Pasha team, and glad we will be able to make her cherished products available again soon.”
Following the passing of regulations that will enable licensed producers to make and sell edibles, extracts, and topicals, Pasha will seek provincial and territorial distribution for the brand. The company has already submitted an Earth Dragon Organics product line in an application to the Ontario Cannabis Store.
July 29, 2019 - Pasha Brands Secures Historic Supply Agreement with Licensed Micro-Cultivator, Hearst Organic Cannabis
Pasha Brands Ltd. (“Pasha”) (CSE: CRFT) (OTC: CRFTF), announced that its wholly owned subsidiary, BC Craft Supply Co. Ltd (“BC Craft”), has signed a supply agreement with Canada’s first licensed micro-cultivator applicant, Hearst Organic Cannabis (“Hearst”).
Founded by Joël Lacelle in Hearst, Ontario, Hearst Organic Cannabis received its micro-cultivation licence from Health Canada on July 12, 2019. Under the new agreement, Hearst will supply BC Craft with its ongoing production to be sold as dried flower. BC Craft has agreed to process and package this flower before it is destined for licensed retailers.
“Joël and his team started with a shovel and navigated the licensing process in just over nine months,” said Jason Longden, CEO Pasha Brands. “They represent the first truly craft producer to be licensed as a micro-cultivator in Canada, the first of many BC Craft intends to bring to market, so this agreement is historic.”
With Canada’s current licensed cannabis producers only able to supply an estimated 15 per cent of what Canadians are consuming, Pasha is optimistic that this new supply agreement will help correct the cannabis supply imbalance. Each micro cultivator in Canada will be able to produce approximately 500 kg of cannabis per year. Canada has tens of thousands of craft producers operating in the illicit cannabis market and BC Craft is focused on helping as many small farmers transition into the regulated market as possible.
“Building Hearst and receiving my Health Canada licence has been a challenge, but I’m encouraged by the high demand for craft products,” said Joël Lacelle, Founder of Hearst Organic Cannabis. “I’m proud to partner with the team at Pasha and BC Craft as they have clearly demonstrated their passion for supporting all craft cannabis producers in Canada.”
Hearst Organic Cannabis will plant its first legal crop in August 2019 and harvest later in the fall.
July 24, 2019 - Pasha Brands Signs Agreement with Great North Distributors for National Distribution
Pasha Brands Ltd. (“Pasha”) (CSE: CRFT) (OTC: CRFTF), announced that it has signed an agreement with Great North Distributors, Inc. (“Great North“), first national sales broker for legalized adult-use cannabis, to distribute Pasha’s craft cannabis products throughout .
July 18, 2019 - Pasha Brands Recruits Four Prominent Communications Experts
Pasha Brands Ltd. (“Pasha”) (CSE: CRFT) (OTC: CRFTF), Canada’s largest craft cannabis brands organization, is pleased to announce the addition of four well-respected communications specialists to the Pasha family: Social Media Manager Gill Polard, Digital Consultant Chet Woodside, Communications and Culture Coordinator Emerald Asuncion, and Content Manager Amanda Siebert.
Under the guidance of Chief Communications and Culture Officer Jamie Shaw, the team of communications professionals are building digital strategies that will provide Canadian cannabis consumers with unique ways to engage with Pasha.
“We’re blessed to be able to count these skilled individuals as part of the Pasha family,” said Jamie Shaw, Chief Communications and Culture Officer of Pasha Brands. “They represent the highest level of commitment and passion in this industry. With their help, Pasha is building out-of-the-box strategies that hope to remind Canadians not only of the vibrant culture that brought us to this point, but it’s dedication to a deeper moral imperative.”
With more than 10 years of digital marketing experience, Gill Polard is the creator of leading Canadian female-focused cannabis website, The Her(B) Life, and producer and co-creator of two cannabis-focused podcasts. Gill has developed social media and content strategies for several Licensed Producers and applicants in the Canadian marketplace and is using her expertise to provide Pasha with social media oversight that speaks to the company’s unique role as a provider of craft cannabis products.
Digital Consultant Chet Woodside brings over 17 years of experience in digital product development, user experience, and marketing to Pasha. The former product director for The Georgia Straight, Straight Cannabis, and Grassroots Expo brings his detail-oriented approach to interaction design and is guiding a multi-faceted web development strategy that aims to simplify the user experience on Pasha’s numerous brand websites.
Communications and Culture Coordinator Emerald Asuncion has been a professional in the cannabis landscape for the last decade. Prior to joining Pasha, she devoted six years to the BC Compassion Club Society, where she delivered outreach and education to patients, practitioners, politicians, donors and supporters, while researching and merchandising cannabis medicines, products, and accessories, and maintaining strong relationships with these various groups. “I’m excited to continue my work in the cannabis industry with an organization that is supporting the industry’s valued craft growers, makers, and cannabis professionals, like myself, who have been pivotal to legalization,” commented Emerald Asuncion about the news. “I believe we’ll do great work together including breaking stigmas, challenging stereotypes, and providing platforms for new voices to be heard.”
Amanda Siebert has spent several years in communications and media as a journalist, editor, photographer, and copywriter, and is the author of Canada’s best-selling cannabis book, The Little Book of Cannabis. As a consulting Content Manager, she will help Pasha develop compliant material that provides visitors to its sites with education on home cultivation, cannabis history, civil disobedience, and more.
In building a memorable and user-friendly digital platform, the Pasha communications team is taking the first step in revealing the company’s coveted craft brands and products to the market.
See full news release here: https://investors.pashabrands.com/media/pasha-brands-recruits-four-prominent-communications-experts/
June 26, 2019 - Pasha Brands Adds Three Prominent Cannabis Experts to Team
Pasha Brands Ltd. (“Pasha“) (CSE: CRFT) (OTC:CRFTF) is pleased to announce the addition of three well-respected cannabis experts to the growing Pasha family: Scientific researcher Dr. Cris Felipe Alves, second-generation cultivator and consultant Travis Lane, and lifelong cultivator Kemal Morris.
As a solution provider to the craft cannabis industry, Pasha subsidiary BC Craft Supply Co. Ltd. (“BC Craft Supply“) aims to provide cannabis farmers with the tools to transition to new regulations governing the micro-cultivation licence category. These experts will assist farmers in making that transition.
“I’m thrilled to have these experts join our team, and, with their support, I look forward to disrupting the market with craft products that will help solve Canada’s ongoing supply chain issues,” said Patrick Brauckmann, Executive Chairman of Pasha Brands. “With these additions to the Pasha family, I’m confident that enthusiasm for craft products will continue to grow.”
Dr. Cris Felipe-Alves has worked in academic and commercial settings in Australia, Asia, and North and South America, and holds a B.Sc in Biological Sciences from the University of Brasília, and a PhD in Molecular Biology and Biochemistry from Nagoya University. While working as a senior scientist at a global diagnostics company, he led a team of researchers from discovery to R&D and sales of molecular tools designed to detect cancers non-invasively. During this time, he became interested in the potential for cannabis as a curative agent against several types of cancer. Since then, he has worked as an extraction specialist and a Quality Assurance Manager. He will act as the Senior Quality Assurance Person at BC Craft Supply.
“Here at Pasha, I feel at home and am proud to be part of a brand house that has a focus on craft products,” said Dr. Felipe-Alves. “I look forward to helping Pasha generate safe and efficient cannabis-based products that suit the needs of both recreational and medical consumers both in Canada and around the world.”
Renowned cultivator and consultant Travis Lane has been growing cannabis for more than 20 years. An organic, living-soil-based cultivator who has advocated for the facilitation of pesticide-free, sun-grown cannabis production, Lane has been involved in the founding of numerous small cannabis businesses over the last decade, including a successful chain of storefront dispensaries, a thriving online mail order service, and was a founding partner in one of the most successful hydrocarbon extraction brands in the country. Under legalization, Lane has divested from the illicit market to focus on multiple Cannabis Act license applications, as well as his work with Groundwork Consulting, focused on government relations and licensing for cultivation and retail, and Levity Solutions, a multi-purpose cannabis consultancy focused on assisting aspiring legal cultivators. He will act as a consultant for Pasha Brands and its subsidiaries.
“The level of talent and expertise that exists in the prohibition-era marketplace is beyond impressive,” said Lane. “These long-time innovators will represent a huge market factor once licensed, and I am proud to help Pasha facilitate this next wave.”
Kemal Morris is a lifelong cultivator who has had his hands in the soil ‘since before he could walk’. He watched his parents grow their own food –and cannabis– on Saltspring Island, British Columbia. Soon after Canada launched its first medical cannabis program in 2001, he spent 14 years learning the intricacies of breeding and extract production. In addition, Morris has spent the last four years launching a prominent Canadian Licensed Producer. He is passionate about patients and has connected hundreds of struggling patients with medicine. As the Master Grower for Pasha Brands’ owned Vancouver Island Licensed Producer, MedCann, Morris will act as facility designer, cannabis expert, educator and facilitator.
“After completing a four-year term in the regulated industry, I am excited to work with Pasha,” said Morris. “I finally have the opportunity to share all that I have learned with the cannabis enthusiasts I came up with, and I’m proud to be part of a company that is breaking the big business mold – affording a rightful place to the people who risked everything to create this thriving industry.”
See full news release here: https://www.newswire.ca/news-releases/pasha-brands-adds-three-prominent-cannabis-experts-to-team-887479869.html
June 24, 2019 - Pasha Brands Announces Acquisition of CBD Therapeutics
Pasha Brands Ltd. (“Pasha”) (CSE: CRFT) (OTC:CRFTF), Canada’s largest craft cannabis brands organization, has announced the acquisition of the CBD Therapeutics brand – a leading pre-legalization manufacturer and purveyor of cannabidiol (CBD) product based in British Columbia.
Since its inception, CBD Therapeutics has supplied solvent-less full spectrum and isolated CBD formulations to the pre-legalization market throughout Canada, and increased access to both products and education. Since ceasing sales on October 17, 2018, CBD Therapeutics has been preparing to enter the regulated framework. Pasha has acquired all of the brand’s trademarks, names and intellectual property and will re-launch the brand in the Canadian regulated market in the very near future.
“Joining Pasha Brands is yet another step forward in our mission of making CBD products more accessible,” said James Whitehead, CEO of CBD Therapeutics. “Working with a collective of smart, like minded individuals and brands will help open opportunities for CBD Therapeutics and aid our growth. It already has.”
CBD Therapeutics is one of the only companies in the CBD space that has built and offered an educational curriculum on CBD that can be accessed for free. They credit their focus on education as one of the reasons they are Canada’slargest direct-to-consumer retailers of CBD.
“We’re thrilled to have acquired one the leading CBD brands in Canada and feel Pasha will benefit from CBD Therapeutics’ established client base and brand awareness, as they’ve made a strong name for themselves in the CBD market,” said Patrick Brauckmann, Executive Chairman of Pasha Brands. “This addition to the Pasha family is yet another indication of the momentum of growth that Pasha is initiating in the new legal cannabis landscape, while remaining committed to those people and brands that operated in the pre-legalization market and who helped establish the industry in Canada.”
Following the legalization of cannabis in Canada, retailers have experienced supply shortages for all cannabis, but are particularly concerned with keeping highly demanded CBD products on shelves. The popularity of CBD has captured the attention of a variety of consumers, many of whom are first-time users.
Through the acquisition of CBD Therapeutics, Pasha aims to help close the supply gap of CBD and is preparing to take advantage of Health Canada regulations on cannabis edibles, beverages, topicals and extracts, set to become legal later this year.
See full news release here: https://www.newswire.ca/news-releases/pasha-brands-announces-acquisition-of-cbd-therapeutics-812990646.html
June 20, 2019 - Pasha Hires Former City Councillor Susan Chapelle to Lead Government Relations
Prohibition-era brand house Pasha Brands Ltd. (“Pasha“) (CSE: CRFT) (OTC:CRFTF) is pleased to announce they have hired cannabis-friendly former City Councillor Susan Chapelle to lead Government Relations and Affairs for the company. Her role will focus on initiating dialogue and lobbying government partners in an effort to assist craft cannabis producers transition from the illicit market into Canada’s new regulatory framework.
Chapelle is a former City Councillor who served two terms on the District of Squamish Council (British Columbia). While on council, she was successful in shaping the District of Squamish cannabis regulations and helped pass progressive legislation for cannabis that has set the stage for industry growth. As a mayoral candidate in the 2018 election, she continued to advocate for equitable access to healthcare.
“Susan brings such strong passion for health advocacy and a clear understanding of the regulatory world that she is able to both educate municipal leaders and bring clarity to farmers looking to gain access to the legal framework,” said Jamie Shaw, Chief Communications and Culture Officer of Pasha Brands. “Susan has demonstrated throughout her life and work that she is committed to bringing the concerns of both her constituents, and patients to the forefront, and she is proving to do the same for the cannabis growers that aim to have their products on the shelves of legal retailers without losing their independence.”
Chapelle was educated in Community Economic Development at Simon Fraser University and is a graduate of the Executive Masters in Business Administration progam (MBA). She has over 30 years of business experience and opened the first multidisciplinary health care clinic in Squamish, British Columbia.
“I am excited to help municipalities and the provinces achieve their policy goals of a safe and legal cannabis industry,” commmented Chapelle on her new role. “Building an understanding of the new regulatory framework and the economic opportunities of localizing the BC cannabis economy with existing craft growers is a chance for rural BC to transition lost opportunities to a clean, scientifically advanced industry. I want my province to thrive in this space.”
The most difficult challenge small farmers face is the complex regulations municipal, provincial and federal governments have in place for cannabis. With Chapelle working at the intersection of policy, science and land use, Pasha is confident it has positioned itself and partners to navigate through them successfully.
Pasha also announces that it has closed a non-brokered private placement (the “Offering“) of convertible debentures (the “Debentures“) in the principal amount of $2,307,456. The Debentures will mature on June 12, 2020 (the “Maturity Date“) and bear interest at a rate of 10% per annum. The Debenture holders may convert at any time, all or a portion of the convertible loan principal into units (the “Conversion Units“) of the Company at a price of $0.70 per Conversion Unit. Interest on the principal amount outstanding under the Debenture shall be payable in cash or Conversion Units issuable at the conversion price, at the discretion of the borrower.
Each Conversion Unit will consist of one common share (a “Common Share“) and one half of one Common Share purchase warrant (each whole warrant, being a “Warrant“). Each whole Warrant shall be exercisable by the holder thereof to acquire one additional Common Share of the Company at a price of $0.70 for a period of 18 months from the Maturity Date.
The proceeds raised from the Offering are expected to be used to continue to grow the Company’s operations and for general working capital purposes.
Pasha has also reached agreements with two creditors to settle (the “Settlement“) payments relating to the acquisition of certain intellectual property associated with the trade name “CBD Therapeutics”. The payments total $141,220, and are being settled through the issuance of 307,000 common shares.
All securities issued by Pasha in connection with the Offering, and the Settlement, will be subject to a four-month-and-one-day statutory hold period in accordance with applicable securities laws.
June 18, 2019 - Pasha Brands introduces BC Craft Supply Co. as Solution Provider for Canada's Supply and Quality Problems
Prohibition-era brand house Pasha Brands Ltd. (“Pasha“) (CSE: CRFT) (OTC:CRFTF) is pleased to introduce BC Craft Supply Co. Ltd. (“BC Craft“) as the first in its line of nearly a dozen leading craft cannabis brands that aim to rectify Canada’s ongoing product shortage and quality issues. Through its subsidiaries, Pasha is Canada’s first licensed producer exclusively focused on assisting the original cannabis industry in Canada in gaining access to the regulated market through Health Canada’s new micro cultivation licensing regime.
BC Craft is helping Canada’s leading cannabis growers acquire micro-cultivation licences by providing comprehensive support and advice, as well as all necessary testing, processing and packaging to help growers legally bring their products to market. With Pasha’s recent acquisition of Medcann Health Products Ltd. (“Medcann“), a fully licensed, Health Canada approved facility, BC Craft is uniquely positioned to work with the thousands of craft producers in Canada that are now looking to transition into Canada’s new regulated supply chain.
“I’m confident that what BC Craft Supply Co. will be able to contribute to the legal market will set the standard for craft production and supply chain management, not just in Canada but internationally,” said Jason Longden, CEO of Pasha Brands. “Confidence in the brand has already inspired craft cultivators throughout British Columbia and from across the country to join our team, and we’re eager to help solve Canada’s ongoing supply issue with quality cannabis the legal market has yet to see.”
Representing the first wave of Pasha’s industry-shaking craft cannabis brands, BC Craft is a service provider in contract with some of Canada’s best farmers to ensure their timely participation and competitive edge in Canada’s burgeoning legal cannabis market. Spurred by a passion to support small businesses and pay respect to the cultivators that have always been the country’s top choice for quality cannabis, the brand is working to assist in their transition into the market so that consumers can have legal access to legitimate and sought-after ‘BC Bud’ at long last.
With Medcann now part of the Pasha group, BC Craft will coordinate the purchase of craft cannabis from licensed micro cultivators under a supply agreement, kicking off the transition from the unregulated market—where nearly 85 percent of all cannabis sales in Canada still take place—to the legal one. Once micro cultivators are licensed and operational, BC Craft anticipates an annual supply of approximately 50,000 kilograms of cannabis per 100 micro cultivators in its supply chain. Industry estimates place the number of grey market producers in BC alone at as many as 20,000.
With BC Craft leading the charge in Canada to welcome “the other 85 percent” into the legal market, Pasha seeks to expand the reputation for quality that craft producers and prohibition-era brands established prior to legalization in Canada.
June 13, 2019 - Jamie Shaw Takes Reigns as Chief Communications and Culture Officer at Craft Cannabis Organization Pasha Brands
Pasha Brands Ltd. (CSE: CRFT), Canada’s largest organization of craft cannabis brands, is pleased to announce the appointment of Jamie Shaw as its new Chief Communications and Culture Officer.
Shaw brings decades of experience in management, messaging, and organizing in the cannabis and multimedia industries to her role at Pasha. Both effective and disruptive in her advocacy, she is the only court-certified expert in the dispensary industry in Canada, and was an expert witness in the Allard trial that won patients the right to grow for themselves. Shaw also successfully lobbied for dispensary regulations in Vancouver, Victoria, and other Canadian municipalities under prohibition, and has consulted at length with all levels of government on cannabis regulations. In addition to Shaw’s extensive experience in the cannabis space, her transferable skillsets from years as a business owner and professional in the performing arts and creative industries make her invaluable to Pasha.
“In my role as Chief Communications and Culture Officer, I hope to assist Pasha in cultivating company-, industry-, and nation-wide respect for the growers, patients, and activists that got us here. I think its crucial to acknowledge the role civil disobedience has played—not just with legalization, but in all the other vital ways it has changed our world for the better,” Shaw said.
“I’m really excited to be embarking on this journey with a team of intelligent, passionate people that are united in their desire to bring the growers and products responsible for British Columbia’s rich cannabis history and reputation for quality back into the limelight.”
Shaw is a founding partner of Groundwork Consulting, a co-author of the first Lift & Co. Retail Cannabis Training Course, a cannabis career training instructor at Kwantlen Polytechnic University, and sits on various boards and advisory committees, including the BC Independent Cannabis Association.
“From my perspective, the value Jamie brings to Pasha and BC Craft Supply Co. is immeasurable. Most cannabis and brand houses couldn’t possibly find someone like Jamie to run culture and communications,” said Patrick Brauckmann, Executive Chairman of Pasha Brands.
“I’m thrilled that Jamie has chosen to bring her passion and knowledge of both cannabis and culture to Pasha. Her understanding and respect for the original cannabis industry, along with her love of history has given her a unique lens with which to see how inappropriate laws and backwards-thinking people have ruined lives on so many levels.”
Shaw’s ability to simultaneously advocate for change and work within a shifting regulatory landscape has helped numerous applicants from the pre-legal markets see their way through municipal, provincial, and federal licensing. Having worked at the leadership level with clients and companies including Indigenous Bloom, MMJ Canada, the BC Compassion Club Society, and the former Canadian Association of Medical Dispensaries, Shaw has established herself as Canada’s formidable expert when it comes to restructuring organizations and liaising with regulators in the cannabis space. Her deep understanding of legislation at all levels of government is sure to be an asset to Pasha and its brands.
The wealth of knowledge and experience Shaw brings will not only help to elevate craft cannabis in Canada, but also bring a unique side of the industry to create a strong platform that benefits craft growers, consumers, and shareholders.
June 11, 2019 - Pasha Brands Appoints Dr. Brigitte Simons as Chief Scientific Officer to High Value Craft Cannabis Organization
Pasha Brands Ltd. (“Pasha”) (CSE: CRFT), Canada’s largest organization of craft cannabis brands, is pleased to announce the appointment of Dr. Brigitte Simons as its new Chief Scientific Officer.
Dr. Simons will bring extensive knowledge of chemistry, pharmaceutical drug development, and laboratory testing to the brand to strengthen the value chains accessed by craft cannabis growers, while ensuring proper compliance with Health Canada regulations. Dr. Simons aims to bridge the learning gap for craft growers who are navigating product lot release, quality control, genetics breeding programs, and product development, especially in future edibles and beverage markets. In addition, she will provide advanced expertise in scientific asset development for the international distribution of craft products.
“I have visited many cannabis cultivation and processing facilities across Canada, and I resonate with the passion that producers pour into their relationship with their plants to deliver highly recognized cultivars that are in demand,” said Dr. Simons. “I wish to help make their craft cannabis a commercial reality, and build strong brands where quality is an experience by the consumer and backed by traceable science.”
Dr. Simons pulls craft cannabis ahead in its discovery for data-driven intelligence through analytical chemistry, using state-of-the art instrumentation such as mobile mass spectrometry and sampling robotics. She is revered as one of the few experts in technical quantitative reporting using mass spectrometry, a technology that is used to deliver accurate potency and testing of cannabis products. For over 16 years, she operated mass spectrometers for the National Institutes of Health (USA), and contracted partners of Canadian federal and provincial government agencies. Her experience covered drug toxicology, product health, and environmental safety, and was essential to the construction of the framework of Bill C-45 for Good Production Practices of Cannabis. She has guided studies with the Canadian Food Inspection, Agriculture Canada, Environment Canada and Health Canada – where she spent over six years working in the government’s analytical testing facilities. Most recently, Dr. Simons was Vice President of Laboratories and Operations at Molecular Science Corp., a Health Canada-licensed laboratory services company specializing in analytical testing with a mobile lab to service the cannabis industry.
“With Dr. Simons’ rich experience in mass spectrometry and laboratory services combined with her passion for cannabis, there was no better choice when it came time to name a Chief Scientific Officer for Pasha,” said Patrick Brauckmann, Executive Chairman of Pasha. “Dr. Simons spent a year getting to know us and played an invaluable role with Pasha is educating farmers throughout BC over the past few months.”
In addition to her lengthy list of qualifications, including a Ph.D. in Chemical Biology from the University of Ottawa, as well as finished post-doctoral fellowships in the United States, Dr. Simons is currently enrolled in the Kellogg-Schulich Executive Master of Business Administration program – making her the first and only eMBA candidate with a thesis on the globalization of cannabis.
June 6, 2019 - Pasha Brands Acquires Health Canada Approved Licensed Producer and Processor
Pasha Brands Ltd. (“Pasha“) (CSE:CRFT), one of Canada’s largest craft cannabis brands organization, is announcing that it has acquired Medcann Health Products Ltd. (“Medcann“), a fully licensed, Health Canada approved standard facility to process, cultivate and sell medical cannabis under the Cannabis Act regulations. Prior to its acquisition by Broome Capital Inc., the privately held Pasha Brands Ltd. had previously entered into a letter of intent to acquire Medcann, dated effective April 30, 2019.
This acquisition will allow subsidiary company, BC Craft Supply Co. Ltd. (“BC Craft“) to accelerate its pace of growth in Canada’s new craft cannabis sector. BC Craft acts as a service provider to small farmers under the newly created Health Canada licence category known as Micro Cultivator. In exchange for a cannabis supply agreement with a micro cultivator, BC Craft assists the applicant in receiving its licence with Health Canada and provides a whole host of services ranging from quality assurance to the marketing of its cannabis products in Canada’s provincial and territorial markets.
With approximately 10,000 square feet of space, on an acre of land on Vancouver Island, Medcann was granted its processing, cultivation and sales licence by Health Canada in March 2019. Medcann provides Pasha with an immediate pathway to bring craft cannabis products to market under Health Canada’s new micro-cultivation licence category. The Medcann facility will test, process and package high quality craft flower, and package this flower for distribution throughout Canada. In addition to flower sales, it is expected that Medcann will process cannabis for Canada’s emerging oil market through an extraction lab to be developed at the facility. Pasha currently owns nine prohibition-era cannabis brands which Canadians were purchasing in the pre-legalization era. As regulations permit, Pasha will distribute product under these leading brands throughout Canada.
There is a growing supply gap for cannabis in Canada as licensed producers are unable to meet consumer demand. Through BC Craft, Pasha will focus on bringing micro-cultivators into the market. The micro-cultivation licensing program allows for the processing of approximately 500 kilograms of dried flower per year, per micro cultivator. More than just a viable solution for closing the supply gap, this provides consumers with high-quality craft cannabis products that are differentiated from others in the space. Under the micro-cultivation program, the BC Craft network will look to add and assist hundreds of producers. For every 100 micro-cultivators BC Craft secures, up to 50,000 kilograms of world-class craft cannabis could be available to the market via Canada’s regulated supply chain.
In consideration for the acquisition of all of the outstanding share capital of Medcann, Pasha has completed a cash payment of $3,000,000, and has issued 14,444,445 common shares (the “Consideration Shares“) at a deemed price of $0.90 per share, to the existing shareholders of Medcann.
The Consideration Shares are subject to a pooling arrangement which restricts the ability of the holders to transfer or trade the shares. The Consideration Shares will be released from the pooling arrangement over a period of eighteen months, with 25% of the shares released immediately upon completion of the acquisition, and the balance released in six equal tranches every three months thereafter. In the event the volume weighted average closing price of the Pasha common shares is less than $0.72 in the twenty trading days prior to the expiry of the pooling arrangement, the shareholders of Medcann will be entitled to receive additional Consideration Shares to guarantee the value of the consideration they receive.
Following completion of the acquisition, Medcann will also hold the right to acquire the property on which its facility is located in consideration for a further cash payment of $1,200,000. The property is currently subject to a lease arrangement which permits the operation of the facility.
In connection with completion of the acquisition, Pasha intends to issue 1,066,667 common shares as a finders’ fee to certain arms’-length parties who assisted Pasha in facilitating the transaction. All shares issued as a finders’ fee will be subject to a four-month-and-one-day statutory hold period in accordance with applicable securities laws.
June 5, 2019 - Pasha Brands Acquires Health Canada Approved Processor and Cultivator
Pasha Brands Ltd. (“Pasha“) (CSE:CRFT), one of Canada’s largest craft cannabis brands organization, is announcing that it has acquired Medcann Health Products Ltd. (“Medcann“), a fully licensed, Health Canada approved facility to process, cultivate and sell medical cannabis under the Cannabis Act regulations. Prior to its acquisition by Broome Capital Inc., the privately held Pasha Brands Ltd. had previously entered into a letter of intent to acquire Medcann, dated effective April 30, 2019.
June 3, 2019 - Pasha Brands Starts Trading Under Exchange Symbol CRFT
Pasha Brands Ltd. (“Pasha“) (CSE: CRFT), Canada’s largest craft cannabis organization, announced today that trading of its common shares will commence at market open today under exchange symbol “CRFT” on the Canadian Stock Exchange (“CSE”). This follows the completion of the reverse takeover of Broome Capital Inc. (“Broome“) (TSXV: BCP).
Although new to the public markets, Pasha is Canada’s only prohibition-era brand house and already the most significant force in Canada’s craft cannabis community. The vertically integrated craft cannabis organization operates as a brand house representing Canada’s most established craft cannabis cultivators, producers and retailers. Within the Pasha umbrella resides award-winning brands that have firmly established themselves, pre-legalization, in British Columbia – a region known around the world for its high quality craft cannabis product. Prior to legalization, the brands now owned by Pasha, while operating in the prohibition-era, ranked among the leading revenue producing companies now operating in the regulated industry.
“Today is historic for both Pasha Brands and the Canadian craft cannabis community,” said Patrick Brauckmann, Executive Chairman of Pasha Brands. “Our listing not only marks the beginning for Pasha as a publicly traded company, but confirms our unwavering commitment to help take growers and brands, many of which played a role in making legalization happen, into the legal marketplace.”
Beyond the brands’ achievements, Pasha is led by a team who is well-known and well-respected in the Canadian craft cannabis community. Each member of Pasha’s leadership team has uniques ties to the cannabis industry, which ultimately drives their motivation to bring craft cannabis to consumers on a global scale.
Pasha’s wholly-owned subsidiary, BC Craft Supply Co. Ltd. (“BC Craft“), will assist micro-cultivators through development, licensing, testing, and distribution of craft cannabis products, in exchange for a guaranteed supply agreement with each micro-cultivator. Similar to Pasha, BC Craft has also amassed some of the most experienced growers in the industry who have laid the foundation for legal cannabis to exist today. Under the Health Canada framework, each micro-cultivator will be able to legally process approximately 500 kilograms of dried flower per year. For every 100 micro-cultivators BC Craft secures, up to 50,000 kilograms of world-class craft cannabis could be available to the market via Canada’sregulated supply chain.
See full news release here: https://www.newswire.ca/news-releases/pasha-brands-starts-trading-under-exchange-symbol-crft-850554899.html
June 4, 2019 - Pasha Brands Names Jason Longden As New CEO
Pasha Brands Ltd. (“Pasha“) (CSE: CRFT), Canada’s largest craft cannabis brands organization, has announced the appointment of Jason Longden to the position of CEO, effective immediately.
Longden brings over 30 years of experience in the food and regulatory industry to Pasha. His knowledge and expertise in operating Health Canada approved facilities and his dynamic supply chain management skills will be integral in establishing Pasha as the global leader in craft cannabis and bringing the vision for the brand to life.
“I’m thrilled to have been given the opportunity to lead this dynamic organization and its highly experienced management team at such an important time for the industry,” said Longden. “Much has been done to establish Pasha as the craft cannabis leader in Canada, now we will be looking to do so internationally.”
Prior to joining Pasha, Longden was the Chief Operating Officer of Silver Hills Bakery—a family-owned company that includes One Degree Organic Foods and the wildly popular Squirrelly Bread®. In this position, he played a major leadership role in building out the business to over 300 employees during a high growth period wherein the company had significant revenue growth and improved profitability. Before his time at Silver Hills Bakery, Longden was Chief Operating Officer of Garden Protein International (Gardein) where he led the company through a critical transition period resulting in the successful sale to a major US company.
“The growth stage in any organization is one of the most critical,” said Patrick Brauckmann, Executive Chairman of Pasha Brands. “Having experienced talent lead us through this time will be a key to our continued success. We welcome Jason and are confident that his longstanding record of leading companies to successful growth will repeat itself with Pasha.”
See full news release here: https://www.newswire.ca/news-releases/pasha-brands-names-jason-longden-as-new-ceo-806724580.html
May 31, 2019 - Pasha Brands Completes Reverse-Takeover with Broome Capital
Pasha Brands Ltd. (formerly, Broome Capital Inc.) (“Pasha“) is pleased to announce that it has completed its reverse-takeover transaction (the “Transaction“), pursuant to which it has acquired all of the outstanding securities of the privately held, Pasha Brands Ltd. (“Privco“), Canada’s largest craft cannabis brands organization. Pasha expects to commence trading on the Canadian Securities Exchange (“CSE“) under the symbol “CRFT” at the market open on Monday, June 3, 2019.
Privco has raised approximately $25 million in the past two quarters and procured some of Canada’s most renowned pre-legalization craft cannabis brands. Pasha is now positioned to accelerate its growth with its wholly-owned subsidiary, BC Craft Supply Co. Ltd. (“BC Craft“), which expects to manage the production and processing of craft cannabis under Health Canada’s regulatory framework. BC Craft will work with craft cannabis producers in Canada and assist them in obtaining their micro-cultivation licences with Health Canada – a program that began on October 17, 2018, in exchange for a supply contract to purchase the crop a micro-cultivator produces.
Legalization in Canada has left licensed producers scrambling to meet the supply needs of Canadian cannabis consumers. To this day, illicit craft producers are still supplying as much as 90% of the cannabis Canadians are purchasing. Through its subsidiaries, Pasha will be Canada’s first all craft licensed producer and will focus exclusively on bringing micro-cultivators into the market. Under the Health Canada framework, each micro-cultivator can legally process approximately 500 kilograms of dried flower per year. For every 100 micro-cultivators BC Craft secures, up to 50,000 kilograms of world-class craft cannabis could be available to the market via Canada’s regulated supply chain.
New to the public markets, Pasha and its brands are no stranger to Canada’s craft cannabis community. Pasha’s ranks include award-winning brands and farmers that have helped establish British Columbia’s reputation as home of the world’s best cannabis. Trusted by independent growers and supported by an experienced management team and board, the brand is well poised for growth.
Reverse Takeover Transaction
In connection with completion of the Transaction, Pasha delisted from the TSX Venture Exchange, consolidated its outstanding share capital on a two-for-one basis (the “Consolidation“) and changed its name to “Pasha Brands Ltd.”, following which Privco amalgamated with a wholly-owned subsidiary of Pasha. Following the amalgamation, all of the outstanding securities of Privco were exchanged for securities of Pasha, on a one-for-one basis, and the amalgamated entity became a wholly-owned subsidiary of Pasha.
Following completion of the Transaction, the board of directors of Pasha was reconstituted to consist of Patrick Brauckmann, Hugo Alves, Scott Walters and Rosy Mondin. Patrick Brauckmann has been appointed as Chief Executive Officer of Pasha, and Theo van der Linde has been appointed as Chief Financial Officer.
For further information regarding the Transaction, readers are encouraged to review the listing statement prepared by Pasha in connection with its listing on the CSE, a copy of which is available under the profile for Pasha on SEDAR (www.sedar.com).
See full news release here: https://www.newswire.ca/news-releases/pasha-brands-completes-reverse-takeover-with-broome-capital-813301266.html
May 28, 2019 - Pasha Brands Receives Conditional Acceptance for CSE Listing
Pasha Brands Ltd. (“Pasha“), Canada’s largest craft cannabis brands organization, is pleased to announce that it has received conditional acceptance for its planned listing on the Canadian Securities Exchange (CSE). Pasha is in the process of completing a reverse-takeover transaction involving Broome Capital Inc. (TSXV: BCP) (“Broome“), following which it is anticipated that Broome will transfer its listing to the CSE under the name “Pasha Brands Ltd.”, and will trade under the ticker symbol “CRFT“.
Pasha has raised approximately $25 million in the past two quarters and procured some of Canada’s most renowned pre-legalization craft cannabis brands. Pasha is now positioned to accelerate its growth with its wholly-owned subsidiary, BC Craft Supply Co. Ltd. (“BC Craft“), which expects to manage the production and processing of craft cannabis under Health Canada’s regulatory framework. BC Craft will work with craft cannabis producers in Canada and assist them in obtaining their micro-cultivation licences with Health Canada – a program that began on October 17, 2018.
There is a growing supply gap for cannabis in Canada as licensed producers are unable to meet consumer demand. Through its subsidiaries, Pasha will be Canada’s first all craft licensed producer and will focus exclusively on bringing micro-cultivators into the market. Under the Health Canada framework, each micro-cultivator can legally process approximately 500 kilograms of dried flower per year. More than just a viable solution for closing the supply gap, this provides consumers with high-quality craft cannabis products that are differentiated from others in the space. Under the micro-cultivation program, the BC Craft network will look to add and assist hundreds of producers. For every 100 micro-cultivators BC Craft secures, up to 50,000 kilograms of world-class craft cannabis could be available to the market via Canada’s regulated supply chain.
New to the public markets, Pasha and its brands are no stranger to Canada’s craft cannabis community. Pasha’s ranks include brands and farmers that have helped establish British Columbia’s reputation as home of the world’s best cannabis. Trusted by independent growers and supported by an experienced management team and board, the brand is well poised for growth.
Further information regarding the listing of Pasha on the CSE, and completion of the transaction with Broome, will be provided as soon as it becomes available. Completion of the listing of Pasha remains subject to the satisfaction of customary conditions to listing imposed by the policies of the CSE.