TORONTO, Ontario, September 11, 2019 – In a milestone achievement that will change the face of its entire business, Sire Bioscience Inc. (“Sire” or the “Company”) wholly owned company Best Cannabis Products Inc. (BCP) has received its Industrial Hemp License (IHL) from Health Canada.
This major milestone comes after a vigorous application process and establishes Sire – a world-class hemp production company – as a trusted, fully compliant hemp provider. For its investors, it will also mean faster speed to revenue, as the Company prepares to launch a wide range of CBD-infused edibles, beverages, personal care products, pet care solutions, and more.
CBD: An Exciting, High-Growth Market
“With the second wave of cannabis legalization set for October, receiving our Industrial Hemp License couldn’t have come at a better time,” says Jeff Zanini, Sire CEO. He adds, "When processing hemp biomass for CBD extraction, the profitability can range anywhere between $1,500-$5000 per kilogram depending if the final product is crude CBD oil or full spectrum CBD oil. This provides a profit opportunity on our Leamington facility ranging between $2,250,000 to $5,000,000 that would be ready for our 2020 Harvest, which is great for shareholder value."
Society’s interest in CBD products is more than just a passing trend. In fact, Brightfield Consulting Group forecasts that CBD sales will grow to over $22 billion by 2022. For consumers, the excitement lies in its many natural health benefits. CBD has been shown to help calm anxiety, reduce inflammation, improve skin health, and support overall well-being in a number of ways. There is also the customization aspect. CBD products come in a variety of forms – such as oils, edibles, drink infusions, and creams – to suit different lifestyles.
For savvy investors, the unprecedented demand for CBD can translate into exceptional returns. The key is investing in a company such as Sire, which has secured the necessary licensing and puts consumer needs first.
A Winning “House of Brands” Strategy
Sire understands that hemp consumers want choice. They are multi-dimensional and seek different products for different occasions. That’s why it has chosen a strategic “House of Brands” approach that will offer a variety of premium products under one roof.
Sire will act as the master brand, with a number of line extensions/sub-brands housed under it. While each sub-brand will deliver a unique function, format, or user experience, all sub-brands will ladder up to one aspirational lifestyle brand – Sire. Currently, Sire has 15 trademarks in the filing process with the CIPO. This will help differentiate its products from the competition and protect its investors.
The Sire “House of Brands” will offer consumers different formats, functions, and experiences to suit their every need.
Room to Grow
The Sire growing operation combines indoor, greenhouse, and prime outdoor agricultural land. It is set on a state-of-the-art agricultural facility in Leamington, Ontario, an area known as the “Sun Parlour of Canada” due to its warm temperatures and ideal growing conditions. With 160,000 square feet of growing space on 50 acres of land, the facility was also chosen for its expansion potential.
“Not only do we have the space to cultivate for immediate market needs, but there is also considerable room for growth,” explains Zanini. “Our Leamington facility could be expanded to cover upwards of 1,000,000 square feet, making it one of the largest and most advanced operations in North America. Once fully optimized, our hemp production will provide ample supply to support our product portfolio and to promote steady revenue generation.”
Adaptability = Faster Revenue
While Sire and other hemp cultivators prepare for October 2019, Zanini stresses the importance of adaptability.
“This market is still new and ever-evolving,” he says. “What makes Sire unique is that we’re able to adapt quickly and efficiently to changing legislation and consumer insights. This will allow us to seamlessly offer new products as legislation permits.”
Sire has also assembled a first-class team of seasoned supply chain experts, with more than 25 years of experience in regulatory, packaging, and brand building.
“Having such a strong team will give us an early-mover advantage in key areas,” notes Zanini. “The faster we can deliver new products, the faster our investors will reap the rewards.”
In the meantime, Sire is committed to industry R&D, and has begun exploring Health Canada approved hemp/CBD varieties. The new Industrial Hemp Licensing gives Sire immediate cultivation, propagation, nursery, and formulation/manufacturing capabilities to meet consumer demand and support long-term business growth.
About Sire Bioscience
Sire’s principal business activity is to engage in the investment, production of and sale of hemp. Its mission is to offer people a way to connect with themselves, with others, and with the world around them.
Sire is headquartered in Toronto, Ontario and is backed by a group of successful entrepreneurs who have extensive experience in the areas of manufacturing, logistics and renewable energy. It has secured a state-of-the-art agricultural facility in Leamington, Ontario – a preeminent locale for hemp cultivation in Canada.
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