Blueberries Medical Corp (OTCMKTS:BBRRF) mobilized cash of $1 million through a non-brokered private placement from Facundo Garreton.
Facundo is a well-known entrepreneur and international businessman. He built and developed several businesses both globally and in Latin America. Commenting on joining the Blueberries board, Facundo said the company has a great potential for imminent growth because of its distinct extraction capabilities and the excellent team at the helm.
Excellent therapeutic potential of cannabis
Facundo has the vision to serve people suffering from different medical conditions worldwide and learned about the significant therapeutic potential of cannabis to improve people’s lives.
Facundo is ready to work with a team that engages in the R&D and cannabis value chain to treat people suffering from various illnesses using cannabis-derived therapies.
CEO of Blueberries, Camilo Villalba said the company is pleased to win an investment from a successful businessman, who is having a deep understanding of relationships and the industry. He will provide significant and strategic value to the company in developing the business.
Signs a pact with Medicann
Blueberries engage in the development and production of THC Cannabis extracts. The company entered a pact with Medicann (Medicamentos de Cannabis SAS) on June 8, 2020, to develop and manufacture THC extracts to satisfy the growing demand in the global markets.
Strengths of Blueberries
With an eye on growing market dynamics, Medicann and Blueberries will jointly strive to commercialize and manufacture cannabis-derived products. Blueberries’ strengths include strong partnerships across the world to develop the products and distribute and exclusive cannabis strains with high THC and cannabidiol contents. Blueberries can also scale up its capacity with contract growers. It benefits from efficient labor and an ideal climate. The company also has an excellent processing and extraction model.
Licenses for medical cannabis flower
Blueberries hold a license for medical cannabis flower production and development/ manufacture of medical cannabis oil products. It owns EU-GMP compliant manufacturing and processing facilities.
EU-GMP compliant processes qualify Blueberries to export medical cannabis products to overseas markets.
Blueberries can extract 70,000 kg of dried flower annually using its 30,000 Sq. Ft. indoor facility. It can add additional extraction facilities to cater to future requirements. The company plans to enhance its cultivation footprint to 5.2 million Sq. Ft. by the year 2022.