Pasha Brands Secures Historic Supply Agreement with Licensed Micro-Cultivator, Hearst Organic Cannabis
VANCOUVER, BC (July 29, 2019) – Pasha Brands Ltd. (“Pasha”) (CSE: CRFT) (OTC:CRFTF) (FSE:ZZD), North America’s largest craft cannabis brand house, is pleased to announce that its wholly owned subsidiary, BC Craft Supply Co. Ltd (“BC Craft”), has signed a supply agreement with Canada’s first licensed micro-cultivator applicant, Hearst Organic Cannabis (“Hearst”).
Founded by Joël Lacelle in Hearst, Ontario, Hearst Organic Cannabis received its micro-cultivation licence from Health Canada on July 12, 2019. Under the new agreement, Hearst will supply BC Craft with its ongoing production to be sold as dried flower. BC Craft has agreed to process and package this flower before it is destined for licensed retailers.
“Joël and his team started with a shovel and navigated the licensing process in just over nine months,” said Jason Longden, CEO Pasha Brands. “They represent the first truly craft producer to be licensed as a micro-cultivator in Canada, the first of many BC Craft intends to bring to market, so this agreement is historic.”
With Canada’s current licensed cannabis producers only able to supply an estimated 15 per cent of what Canadians are consuming, Pasha is optimistic that this new supply agreement will help correct the cannabis supply imbalance. Each micro cultivator in Canada will be able to produce approximately 500 kg of cannabis per year. Canada has tens of thousands of craft producers operating in the illicit cannabis market and BC Craft is focused on helping as many small farmers transition into the regulated market as possible.
“Building Hearst and receiving my Health Canada licence has been a challenge, but I’m encouraged by the high demand for craft products,” said Joël Lacelle, Founder of Hearst Organic Cannabis. “I’m proud to partner with the team at Pasha and BC Craft as they have clearly demonstrated their passion for supporting all craft cannabis producers in Canada.”
Hearst Organic Cannabis will plant its first legal crop in August 2019 and harvest later in the fall.