August 08, 2019 12:01 AM


VANCOUVER, BC, CANADA (August 8th, 2019) – Codebase Ventures Inc. ("Codebase" or the "Company") (CSE: CODE - FSE: C5B – OTCQB: BKLLF), provides an update to investors on the focus of the Company’s cannabis industry subsidiary as management explores early stage opportunities in the UK and European CBD and medicinal cannabis markets.

“With our leadership team’s deep experience in the cannabis space, we believe that the UK is entering a period of acceptance to CBD and medicinal cannabis that was evident in Canada and North America 5-7 years ago,” said Mr. George Tsafalas, Codebase President and CEO. “That spells opportunity to our team, and on behalf of our shareholders, management and representatives have engaged in meetings in the UK specifically aimed at identifying and investing in early stage companies in the space that can benefit from both our capital and expertise.”

UK CBD and medicinal cannabis highlights:

  • UK CBD wellbeing product category estimated to be worth 1B Pounds by 20251
  • UK CBD market is larger than the total Vitamin D and Vitamin C market combined1
  • It is estimated that 6 million adults have used CBD in the UK1
  • 11% of the UK population consumed a CBD product within the last year1
  • Support for cannabis legalization amongst CBD users is at 75%1


At this stage of market growth, the Company’s management team is seeking opportunities to invest in brands that have the potential to be market leaders in the minds of consumers, with growth opportunities throughout the UK and European countries with legal frameworks in place.

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

Investor Relations

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.

Forward Looking Statements

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved.  A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.

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