logo-loader

Arev Brands says BC Bud Depot unit begins intensive phase of cannabis strain development

Last updated: 12:55 29 Nov 2018 EST, First published: 11:14 29 Nov 2018 EST

Silhouettes of  marijuana leaves
BC Bud Depot is working to fulfill demand for cannabis strains in the medicinal and recreational markets

Arev Brands International Ltd (CNSX:AREV) said Thursday that its BC Bud Depot subsidiary has begun an intensive phase of developing cannabis strains.

Vancouver-based Arev said in a press release that BC Bud Depot is working to fulfill demand for cannabis strains in the medicinal and recreational markets.

READ: Arev completes purchase of Bare Topicals creams for $160K in stock

BC Bud Depot recently developed a high-cannabidiol hemp strain that will be submitted to the Canadian Food Inspection Agency for a classification to be registered under the Cannabis Act.

“Not only are we efficient in our development, we are efficient in our spending,” Arev CEO Mike Withrow said in a statement. ”There's much more to come."

Matthew Harvey, lead breeder at BC Bud Depot, added that “our mandate is to improve the quality of cannabis available to both medicinal and recreational consumers in Canada and abroad.”

In September, Arev completed its C$5.25 million acquisition of BC Bud Depot, including all existing and future cannabis strains bred by the company. Earlier in November, Arev said it had completed the purchase of Bare Topicals, a brand of cannabis-based skin creams, from Alternative Extracts Inc for C$160,000 in stock.

Separately, Arev said Thursday that it has issued 50,000 common shares at C$0.275 as a signing bonus for a consultant.

Shares of Arev climbed C$0.01 to C$0.28 in Thursday’s Canadian trading.

 

Contact Dennis Fitzgerald at dennis@proactiveinvestors.com

AREV Brands on track and geared for success after their strategic move to...

AREV Brands (CSE:AREV) Chairman Mike Withrow sat down with Steve Darling from Proactive Investors Vancouver to talk about the planned shift AREV has made to incorporate cannabis hemp and hops in their successful technology. Whitrow telling and showing Proactive how their technology works...

on 01/30/2019