Benchmark Botanics Inc (OTCMKTS:BHHKF)‘s wholly-owned subsidiary – Potanicals Green Growers Inc., obtained a license amendment for an additional component at its cultivation site. Potanicals began the development of cannabis seeds from its high-value cultivars. The company expects to enjoy dividends in the long term by using cultivation techniques and distinct genetics.
Improves seed propagation
Benchmark’s CEO, William Ying, said receiving an amended license from Health Canada is a milestone for its operating plan in 2020. The license amendment allows the company to improve R & D of genetics and enhances its seed propagation capacity and other licensed producers. Additional capacity will strengthen Benchmark to benefit from cannabis 2.0 product launches and improve the collection of proprietary strains.
Benchmark posted record revenues of $191,905 in Q1 2020. It is on the backdrop of improved sales of adult-use cannabis in Canada. The company also sold dried cannabis to the licensed manufacturer. An average sales price for cannabis is realized at $6.46 through the sale of 29,587 grams in Q1.
William said the company posted excellent growth in Q1 2020. The company expects to continue the growth and reward shareholders with rich dividends going forward. Benchmark will use highly skilled team to explore new opportunities and execute in time.
Benchmark is continuing its operations during coronavirus crisis and spending sensibly and ensuring priorities to boost growth. William stated the company is giving priority to the health of its employees and their families at this difficult juncture.
The multi-licensed manufacturer – Benchmark, which is engaged in the manufacturing of cannabis products, focuses on a business model that targets recreational, pharmaceutical, and medical markets across the nation. It yearns to become a leading licensed producer in Canada and sell hemp and medical cannabis across Asia.
Benchmark focuses on the supply of indoor-grown and high-quality cannabis for adult use and medical use. The company is also in negotiations with global partners to establish its presence worldwide.
Potanicals is engaged in phase II expansion on 10,000 extraction facility in BC Cannabis Complex. Its Peachland BC is also engaged in providing R&D, cloning, cultivation, propagation, and genetic improvements.
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