BlissCo Cannabis Corp. (CSE: BLIS) (FRA: GQ4B), ("BlissCo") submitted a license amendment application to Health Canada to produce cannabis oil on June 6, 2018.

Vanguard Scientific Systems, MIDAS XII Co2 Extraction System (CNW Group/BlissCo Cannabis Corp.)

"The BlissCo team with the support of two international partners has designed a state of the art cannabis oil extraction lab, that in phase one will be able to produce 420 kilograms of cannabis oil annually. These 420 kilograms of cannabis oil will be used to create cannabis oil tinctures and capsules to service Canadian medical patients and international distribution partners," said BlissCo CEO Damian Kettlewell.

The most recent sales data from Health Canada shows that cannabis oil sales overtook dried cannabis sales in May 2017 and as of December 2017 cannabis oil sales are 50% higher than dried cannabis sales. 

"BlissCo is focused on creating value added, high margin cannabis products for the medical market and the recreational market in Canada when it is legal. Our international supply chain partnerships will ensure that BlissCo has access to rapidly evolving cannabis consumer and product data," said Kettlewell.

One such partnership gives BlissCo access to medical-grade cannabis oil through the MIDAS XII Co2 extraction system created by Oregon-based, Vanguard Scientific Systems. Created with the user and final patient in mind, a proprietary two-column design makes the MIDAS one of the only systems in the world with the ability to safely extract therapeutic cannabis terpenes along with the healing whole plant oils, offering a full spectrum of benefits to users.

"BlissCo is excited to bring the first Midas Co2 extractor to Canada and introduce innovative and compliant cannabis oil products to our medical patients and adult users when legal," said Kettlewell.

The MIDAS represents a significant investment in the BlissCo extraction lab, allowing the company to utilize dozens of cannabis components that were previously inaccessible. As a result, the 420 kilograms of cannabis oil have the potential to generate tens of millions in sales annually for BlissCo depending on the final products that are created and on the evolution of the cannabis extract market.

"The MIDAS Co2 extractor is the culmination of six years of research by scientists and technology pioneers from around the world," says Vanguard CEO, Matthew Anderson. "We are excited to help bring a new level of plant-based therapeutics to Canadians across the country with the partnership of BlissCo and the forward-thinking support of the Canadian federal government. Extracting cannabis oil can be extremely complex, but with the patented design of the MIDAS, Canadians will soon have access to the world's purest cannabis oil."

Stock Option Grant

The Company announces that it has granted 450,000 stock options (the "Options") to employees and Consultants, at an exercise price of $0.33 per Option. Each Option will have an exercise term of up to three (3) years and vesting will be determined by management.