COMPANY’S CANNABIS SUBSIDIARY EXPLORING UPSTATE NEW YORK ORGANIC FARM FOR POTENTIAL HEMP-DERIVED CBD APPLICATION
VANCOUVER, BC, CANADA (August 1st, 2019) – Codebase Ventures Inc. ("Codebase" or the "Company") (CSE: CODE - FSE: C5B – OTCQB: BKLLF), announces that its Code Cannabis Investments subsidiary has identified and begun due diligence on the potential acquisition of an organic farm in New Berlin, New York - a state that as of this week has taken a significant step toward its Governor’s stated goal of legalizing recreational cannabis by decriminalizing personal marijuana use.
“Code Cannabis Investments has been formed to find early stage investments in the cannabis sector that can deliver substantial returns to shareholders,” said Mr. George Tsafalas, Codebase President and CEO. “Our team sees the hemp-derived CBD market as a lucrative one which is expanding rapidly, and we believe that the Certified Organic designation will provide additional growth potential and stronger margins.”
At present, the Company is conducting due diligence on the property, which consists of approximately 45 acres of certified organic land and is located in New Berlin, NY. There is no assurance this acquisition will close. No binding agreements have been entered into in respect thereof, nor has any purchase price been determined. Further announcements will be made in due course.
Code Cannabis Investments exploration of an entry into the hemp-derived CBD market in the USA, with the added premium of a Certified Organic designation, is driven by the following key factors:
About Codebase Ventures Inc.
Codebase Ventures Inc. seeks early-stage investments in sectors that have significant upside. We seek innovators who are establishing tomorrow’s standards. We support those innovators and help take their ideas to market.
For further information, please contact:
George Tsafalas - Ivy Lu
Telephone: Toll-Free (877) 806-CODE (2633) or 1 (778) 806-5150
E-mail: [email protected]
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
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