Highmark Marketing Inc.

Highmark Marketing Inc.

September 15, 2014 09:58 ET

BCBud Confirms Receipt by Health Canada of MMPR Application

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 15, 2014) -


Highmark Marketing Inc. (CSE:HMK)(FRANKFURT:1HM) (the "Company" or "Highmark") is pleased to announce that BCBud Producers Inc. ("BCBud") has received a letter from Health Canada confirming receipt of BCBud's application to become a licensed producer of marijuana under the Marihuana for Medical Purposes Regulations (the "MMPR").

In its application to Health Canada, BCBud relied upon its lease option on a 17,000 square feet building (the "Property") in the Village of Pemberton, B.C., zoned M-1 with a growing space of approximately 10,000 square feet. The building will be a new facility that is purpose built for the operation as per MMPR Regulations.

Additional highlights of the application are;

  • Proposed level 8 (region III) security which allows the site to hold up to $31.250 million of product
  • Proposed quarterly production of up to 3,125kg (1.2500 million grams per year)
  • The Village of Pemberton has by way of a letter confirmed that M-1 zoning permits Medical Marihuana Production Facilities.

BCBud cannot become a producer under the MMPR until it has been granted a license, and it is currently not known if or when BCBud will obtain a license. The key milestones remaining for BCBud to obtain a license include the following: receiving a Ready to Build letter; completion of the upgrades as per the Ready to Build letter; approval from Health Canada to produce upon inspection of the facility; and approval to distribute the product to patients.

Highmark previously announced on August 6, 2014 the terms of a a share exchange agreement with BCBud and Blue Moon Advertising Inc. ("Blue Moon") to acquire 100% of the authorized share capital of BCBud from its shareholder, Blue Moon Advertising Inc.

A condition precedent to the closing of the share exchange agreement for the benefit of Highmark is that BCBud deliver to Highmark its audited financial statements. The audited financial statements are currently in the process of being completed. Highmark anticipates that the closing will occur during the next few weeks. Upon closing, the exchange of shares outlined in the share exchange agreement shall be conducted.

About Pemberton

Located 30 minutes north of the resort of Whistler, B.C., just beyond the Coast Mountains, is the village of Pemberton, a community based on agriculture and forestry.

Pemberton has an abundance of natural resources. Glacial water and renewable energy make Pemberton a suitable location for the production of high quality medicinal marijuana.

About Highmark

Highmark is a nutraceutical company, based in British Columbia, focused on bringing the health benefits of natural and herbal remedies to the market. Highmark intends to acquire, license, distribute, and market products in the nutraceutical industry.

Further information about Highmark is available under its profile on the SEDAR website www.sedar.com and on Highmark's page on the CSE website at www.thecse.com.

The CSE has not reviewed, approved or disapproved the content of this press release.

Forward-Looking Information:

This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of Highmark. Forward-looking information is based on certain key expectations and assumptions made by the management of Highmark, including future plans for acquisitions. Although Highmark believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Highmark can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. Highmark disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in the United States. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, or any applicable securities laws or any state of the United States and may not be offered or sold in the United States or to the account or benefit of a person in the United States absent an exemption from the registration requirements.

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