Welcome!

News Feed Item

Highmark Executes Definitive Agreement to Acquire BCBUD

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 08/06/14 -- Highmark Marketing Inc. (CSE:HMK) ("Highmark") is pleased to announce that it has entered into a share exchange agreement (the "Agreement") with BCBUD Producers Inc. (the "BCBUD") to acquire 100% of its authorized share capital from the shareholder of BCBUD, Blue Moon Advertising Inc. ("Blue Moon"). Highmark is also pleased to announce that it has entered into a consulting agreement with the President of BCBUD, Bill Marshall.

BCBUD has prepared an application to become a licensed producer of marijuana and has informed Highmark that it is ready to file its first application under the Marihuana for Medical Purposes Regulations (the "MMPR").

The Agreement contemplates that 2,500,000 common shares will be issued by Highmark to Blue Moon for the acquisition of BCBUD but that shares will be held in escrow and will be released upon the occurrence of the following events:


                                                                            
----------------------------------------------------------------------------
Release Date                                  Number of Shares Released     
----------------------------------------------------------------------------
On receipt of a letter from Health Canada     250,000 common shares         
 confirming a submission number of the                                      
 BCBUD's application to become a licensed                                   
 producer under the MMPR                                                    
----------------------------------------------------------------------------
On receipt of a Ready to Build letter from    250,000 common shares         
 Health Canada confirming that BCBUD has                                    
 approval from Health Canada to build a                                     
 facility pursuant to the MMPR                                              
----------------------------------------------------------------------------
On receipt by BCBUD of a license to produce   2,000,000 common shares       
 marijuana under the MMPR                     (the "License Shares")        
----------------------------------------------------------------------------

The License Shares will also be subject to a stock restriction agreement whereby the stock will be released over a period of three years.

On August 1, 2014, Highmark entered into a Consulting Agreement with Bill Marshall, President of BCBUD, pursuant to which Highmark has agreed to pay Mr. Marshall $3,500 per month. Mr. Marshall has gained extensive experience with MMPR applications, whilst working as a consultant to prospective licensed producers. As the designated Senior Person in Charge, he will be responsible for communicating with Health Canada and assisting with all matters relating to the issuance of a license under the MMPR.

BCBUD cannot legally become a producer under the MMPR until it has been granted a license, and it is currently not known if and when BCBUD will obtain that license. The key milestones to becoming a licensed producer include filing an application, receiving a Ready to Build letter, completion of the upgrades as per the Ready to Build letter, approval from Health Canada to produce upon inspection of the facility, and finally approval to distribute the product to patients.

Highmark would also like to announce a change to its Advisory Board. Highmark's current Consulting Agreement with Greenline Ventures Ltd. has been terminated effective September 4, 2014. From September 4, 2014, Don Schultz of Greenline Ventures Ltd. will no longer be a member of Highmark's Advisory Committee. Highmark has made this change as part of a broader initiative to more closely align compensation to specific performance based milestones. Highmark intends to continue to work with Greenline and Don Schultz where possible on a project basis.

About Highmark

Highmark is a nutraceutical company, based in British Columbia, focused on bringing the health benefits of natural and herbal remedies to the market. Highmark intends to acquire, license, distribute, and market products in the nutraceutical industry.

Further information about Highmark is available under its profile on the SEDAR website www.sedar.com and on Highmark's page on the CSE website.

The CSE has not reviewed, nor approved or disapproved the content of this press release.

Forward-Looking Information:

This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of Highmark. Forward-looking information is based on certain key expectations and assumptions made by the management of Highmark, including future plans for acquisitions. Although Highmark believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Highmark can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. Highmark disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, whic...
SYS-CON Events announced today that Cloudistics, an on-premises cloud computing company, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Cloudistics delivers a complete public cloud experience with composable on-premises infrastructures to medium and large enterprises. Its software-defined technology natively converges network, storage, compute, virtualization, and management into a ...
Every successful software product evolves from an idea to an enterprise system. Notably, the same way is passed by the product owner's company. In his session at 20th Cloud Expo, Oleg Lola, CEO of MobiDev, will provide a generalized overview of the evolution of a software product, the product owner, the needs that arise at various stages of this process, and the value brought by a software development partner to the product owner as a response to these needs.
SYS-CON Events announced today that delaPlex will exhibit at SYS-CON's @ThingsExpo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. delaPlex pioneered Software Development as a Service (SDaaS), which provides scalable resources to build, test, and deploy software. It’s a fast and more reliable way to develop a new product or expand your in-house team.
SYS-CON Events announced today that Tappest will exhibit MooseFS at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. MooseFS is a breakthrough concept in the storage industry. It allows you to secure stored data with either duplication or erasure coding using any server. The newest – 4.0 version of the software enables users to maintain the redundancy level with even 50% less hard drive space required. The software func...
New competitors, disruptive technologies, and growing expectations are pushing every business to both adopt and deliver new digital services. This ‘Digital Transformation’ demands rapid delivery and continuous iteration of new competitive services via multiple channels, which in turn demands new service delivery techniques – including DevOps. In this power panel at @DevOpsSummit 20th Cloud Expo, moderated by DevOps Conference Co-Chair Andi Mann, panelists will examine how DevOps helps to meet th...
Most technology leaders, contemporary and from the hardware era, are reshaping their businesses to do software in the hope of capturing value in IoT. Although IoT is relatively new in the market, it has already gone through many promotional terms such as IoE, IoX, SDX, Edge/Fog, Mist Compute, etc. Ultimately, irrespective of the name, it is about deriving value from independent software assets participating in an ecosystem as one comprehensive solution.
SYS-CON Events announced today that EARP will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. "We are a software house, so we perfectly understand challenges that other software houses face in their projects. We can augment a team, that will work with the same standards and processes as our partners' internal teams. Our teams will deliver the same quality within the required time and budget just as our partn...
As DevOps methodologies expand their reach across the enterprise, organizations face the daunting challenge of adapting related cloud strategies to ensure optimal alignment, from managing complexity to ensuring proper governance. How can culture, automation, legacy apps and even budget be reexamined to enable this ongoing shift within the modern software factory?
SYS-CON Events announced today that A&I Solutions has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Founded in 1999, A&I Solutions is a leading information technology (IT) software and services provider focusing on best-in-class enterprise solutions. By partnering with industry leaders in technology, A&I assures customers high performance levels across all IT environments including: mai...
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend @CloudExpo | @ThingsExpo, June 6-8, 2017, at the Javits Center in New York City, NY and October 31 - November 2, 2017, Santa Clara Convention Center, CA. Learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
SYS-CON Events announced today that Systena America will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Systena Group has been in business for various software development and verification in Japan, US, ASEAN, and China by utilizing the knowledge we gained from all types of device development for various industries including smartphones (Android/iOS), wireless communication, security technology and IoT serv...
SYS-CON Events announced today that Outscale will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Outscale's technology makes an automated and adaptable Cloud available to businesses, supporting them in the most complex IT projects while controlling their operational aspects. You boost your IT infrastructure's reactivity, with request responses that only take a few seconds.
DevOps at Cloud Expo – being held October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises – and delivering real r...