Bougainville Ventures Inc. (CSE:BOG) Changes its Name to Primo Nutraceuticals Inc. (CSE:PRMO)
VANCOUVER, British Columbia, Oct. 24, 2019 (GLOBE NEWSWIRE) — BOUGAINVILLE VENTURES INC. (CSE: BOG) (FSE: 8BV) (DEU: 8BV) (MUN: 8BV) (STU: 8BV) (“Bougainville” or the “Company”) is pleased to announce that it changed its name on October 24th, 2019 from Bougainville Ventures Inc. to Primo Nutraceuticals Inc. (“Primo”) and will be changing their ticker symbol on the CSE from BOG to PRMO.
The company has been issued a new ISIN for its common shares: CA74167D1050. Shareholders that have their shares held electronically or in Book Entry form will have their old shares in Bougainville Ventures Inc. with ISIN CA1013981057 automatically changed. There is no action required. Shareholders that hold paper certificates should forward them to the Integral Transfer Agency to be issued a new certificate.
The change in name better reflects the industries and operating verticals of the company, and further cements the company’s nutraceutical focus. The word “Primo” is derived from the word “Premium” which means: of exceptional quality or greater value than others of its kind. Use of the word “Primo” as cultural vernacular when referring to the quality of products, often cannabis, has been historically common, and is a tradition that lives on today.
Primo Nutraceuticals Inc., – Cannabis & Hemp Production, Processing, Retail & Branding
After a year of developing assets the board of directors decided a name change to better reflect their corporate pursuits was essential to communicate potential shareholder value. Given the recent corporate activity, including marquee acquisitions and milestones in the hemp & nutraceutical sectors, the change in name is reflective of the current corporate vision. The objective of the company is to be a vertically integrated market leader, and to maintain control of quality from the seed to sale of premium products.
Production & Processing – Primo currently has production and processing operations in Oroville WA, and Newburg, Oregon. The Oroville campus has a Tier-3 tenant grower who is licensed to produce a 30,000 sq ft facility as well as a processing license that allows it to process marijuana into flower, pre-rolls, edibles, drinks and topicals. The Oregon farm has 10 acres of hemp currently being harvested. Further, a 15,000 sq ft processing facility is under construction and will house a drying and storage facility, which is a necessary first step in fulfilling the business mandate of processing hemp.
Retail & Branding – With the acquisition of Thrive Wellness and the appointment of Mr. Andy Dhaliwal to the position of Vice President of Distribution and Sales, the Board is looking forward to “Thrive Wellness” and “Primo” brands being well received by customers, brokers, and retail partners such as Nutrition House. Management intends on building a corporate roadmap to further vertically integrate the company, specifically by way of “Primo” branded retail outlets – offering Thrive, Primo, and a selection of curated partner brands.
President, Andy Jagpal Comments:
“Bougainville was the name of the previous mining business and has a related connotation for some, however, mining is unrelated to the company. Bougainville is also the name of an island in the pacific chain that the company is unrelated to. The company is proud to rebrand itself to better align shareholder expectations with corporate vision and to better reflect our business model and brand name in the cannabis and hemp market.”
VP Sales & Distribution, Andy Dhaliwal Comments:
“I believe having our company name clearly representative of the corporate portfolio to be essential in communicating our value to shareholders. This change in identity further solidifies our commitment to being the premium choice for high-value hemp nutraceutical products.”
About the CBD Market
Bank of America projects a spend of $1.3 Billion on CBD in Canada by 2022, while $1.9 Billion is being spent in the USA currently, and another $4.4 Billion in Europe this year. Demand for CBD and hemp is increasing year over year, with Merrill Lynch predicting an $11.5 Billion American market by 2032.
About the Hemp Market in Oregon State
According to Grandview Market Research, there were little over 580 growers, and 11,500 acres growing hemp registered in 2018. This year, there are 1,900 growers, and nearly 63,000 acres registered growing hemp. The hemp market is bigger than the medical marijuana and recreational marijuana markets put together, and as the Baby Boomers are just now discovering the benefits of CBD the demand for hemp has an aggressive growth curve that is just beginning.
About Primo Nutraceuticals, Inc.
Primo Nutraceuticals Inc. Cannabis Production, Processing, Retail & Branding – is dedicated to rapid growth in production, processing, retail and branding of cannabis and cannabis related products. Currently the company provides strategic capital to the thriving cannabis cultivation sector through ownership and development of commercial real estate properties. We offer fully built out turnkey facilities equipped with state-of-the-art growing infrastructure to cannabis growers and processors. Also, the Company is focused on building a strong presence in the hemp industry with the objective of extracting cannabinoids in both Canada and the United States. Along with our flagship hemp project in Oregon State and the Greenhouse campus in Washington State, the Company has proprietary formulas for cannabis edibles, topical, and tinctures.
On behalf of the Board of Directors
PRIMO NUTRACEUTICALS INC.
Andy Jagpal, President and Director
To learn more about what this news means to the shareholders visit https://marketnewsfirst.com/bog-news, as well as on the company’s site.
For further information, please contact Zoltan, IR Representative at: 604-722-0305 email@example.com. Or toll free at 1-877-517-7816
FORWARD LOOKING STATEMENTS: This news release contains certain forward-looking statements within the meaning of Canadian securities laws. Forward-looking statements are based on the expectations and opinions of the Company’s management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
No regulatory authority has approved or disapproved the information contained in this news release.