Click here to close now.

SYS-CON MEDIA Authors: Liz McMillan, Dana Gardner, Elizabeth White, Carmen Gonzalez, PagerDuty Blog

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
Hosted PaaS providers have given independent developers and startups huge advantages in efficiency and reduced time-to-market over their more process-bound counterparts in enterprises. Software frameworks are now available that allow enterprise IT departments to provide these same advantages for developers in their own organization. In his workshop session at DevOps Summit, Troy Topnik, ActiveState’s Technical Product Manager, will show how on-prem or cloud-hosted Private PaaS can enable organ...
The WebRTC Summit 2014 New York, to be held June 9-11, 2015, at the Javits Center in New York, NY, announces that its Call for Papers is open. Topics include all aspects of improving IT delivery by eliminating waste through automated business models leveraging cloud technologies. WebRTC Summit is co-located with 16th International Cloud Expo, @ThingsExpo, Big Data Expo, and DevOps Summit.
SYS-CON Media announced today that @WebRTCSummit Blog, the largest WebRTC resource in the world, has been launched. @WebRTCSummit Blog offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. @WebRTCSummit Blog can be bookmarked ▸ Here @WebRTCSummit conference site can be bookmarked ▸ Here
SYS-CON Events announced today that Cisco, the worldwide leader in IT that transforms how people connect, communicate and collaborate, has been named “Gold Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Cisco makes amazing things happen by connecting the unconnected. Cisco has shaped the future of the Internet by becoming the worldwide leader in transforming how people connect, communicate and collaborat...
WSM International is launching a DevOps services division that offers assessment, consulting and implementation to large enterprises and organizations with complex infrastructures. This is the first independent services company to create a dedicated practice to help organizations looking to transition to the DevOps model. The concept of DevOps is to blend information technology (IT) software development with operations to optimize the computing infrastructure according to the specific needs of ...
SYS-CON Events announced today that the DevOps Institute has been named “Association Sponsor” of SYS-CON's DevOps Summit, which will take place on June 9–11, 2015, at the Javits Center in New York City, NY. The DevOps Institute provides enterprise level training and certification. Working with thought leaders from the DevOps community, the IT Service Management field and the IT training market, the DevOps Institute is setting the standard in quality for DevOps education and training.
Wearable technology was dominant at this year’s International Consumer Electronics Show (CES) , and MWC was no exception to this trend. New versions of favorites, such as the Samsung Gear (three new products were released: the Gear 2, the Gear 2 Neo and the Gear Fit), shared the limelight with new wearables like Pebble Time Steel (the new premium version of the company’s previously released smartwatch) and the LG Watch Urbane. The most dramatic difference at MWC was an emphasis on presenting we...
SYS-CON Events announced today that robomq.io will exhibit at SYS-CON's @ThingsExpo, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. robomq.io is an interoperable and composable platform that connects any device to any application. It helps systems integrators and the solution providers build new and innovative products and service for industries requiring monitoring or intelligence from devices and sensors.
Temasys has announced senior management additions to its team. Joining are David Holloway as Vice President of Commercial and Nadine Yap as Vice President of Product. Over the past 12 months Temasys has doubled in size as it adds new customers and expands the development of its Skylink platform. Skylink leads the charge to move WebRTC, traditionally seen as a desktop, browser based technology, to become a ubiquitous web communications technology on web and mobile, as well as Internet of Things...
Today, IT is not just a cost center. IT is an enabler and driver of business. With the emergence of the hybrid cloud paradigm, IT now has increasingly more capabilities to create new strategic opportunities for a business. Hybrid cloud allows an organization to utilize multi-tenant public clouds, dedicated private clouds, bare metal hosting, and the associated support and services for the right use cases through an on-demand, XaaS model. This model of IT creates tremendous opportunities for busi...
Docker is an excellent platform for organizations interested in running microservices. It offers portability and consistency between development and production environments, quick provisioning times, and a simple way to isolate services. In his session at DevOps Summit at 16th Cloud Expo, Shannon Williams, co-founder of Rancher Labs, will walk through these and other benefits of using Docker to run microservices, and provide an overview of RancherOS, a minimalist distribution of Linux designed...
Business as usual for IT is evolving into a “Make or Buy” decision on a service-by-service conversation with input from the LOBs. How does your organization move forward with cloud? In his general session at 16th Cloud Expo, Paul Maravei, Regional Sales Manager, Hybrid Cloud and Managed Services at Cisco, discusses how Cisco and its partners offer a market-leading portfolio and ecosystem of cloud infrastructure and application services that allow you to uniquely and securely combine cloud busi...
SYS-CON Events announced today that Akana, formerly SOA Software, has been named “Bronze Sponsor” of SYS-CON's 16th International Cloud Expo® New York, which will take place June 9-11, 2015, at the Javits Center in New York City, NY. Akana’s comprehensive suite of API Management, API Security, Integrated SOA Governance, and Cloud Integration solutions helps businesses accelerate digital transformation by securely extending their reach across multiple channels – mobile, cloud and Internet of Thi...
Businesses are looking to empower employees and departments to do more, go faster, and streamline their processes. For all workers – but mobile workers especially – utilizing the cloud to reconnect documents and improve processes without destructing existing workflows can have a dramatic impact on productivity. In his session at 16th Cloud Expo, Mark Grilli, vice president of Acrobat Solutions marketing at Adobe Systems Incorporated, will outline new ways that the cloud is changing the way peo...
SYS-CON Events announced today that Vitria Technology, Inc. will exhibit at SYS-CON’s @ThingsExpo, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Vitria will showcase the company’s new IoT Analytics Platform through live demonstrations at booth #330. Vitria’s IoT Analytics Platform, fully integrated and powered by an operational intelligence engine, enables customers to rapidly build and operationalize advanced analytics to deliver timely business outcomes ...