After receiving its affirmation letter, as announced Sept. 26, 2016, Beleave Inc.’s (BE:CNX) wholly owned subsidiary, First Access Medical Inc. (FAM), has completed all security installations, record-keeping software and implemented required good manufacturing practices at its 14,500-square-foot facility in Flamborough, Ont.

Management believes that the facility has been built out to the specifications that were outlined during the company’s application review under the access to cannabis for medical purposes regulations (ACMPR). Special precaution was taken by auditing sanitation and good production practices, security measures and procedures, and seed-to-sale inventory record-keeping software with third party industry experts. David Hyde and Associates, Eurofins Experchem Laboratories and Ample Organics worked closely alongside the company’s in-house team to satisfy the requirements of the ACMPR, as well as to prepare scalability for future expansion. While there is no guarantee that a licence under the ACMPR will be granted, management and its advisers believe that the facility should meet regulatory requirements under the ACMPR.

In addition to the completion of the required security, record keeping and good manufacturing practices, the company has upgraded its production equipment and has integrated various facility components that will further allow for rapid scalability for potential future expansion. Upgrades include cloud server storage and record retention capability, surveillance equipment, lighting systems, water purification and distribution equipment, HVAC systems, sanitation equipment, physical barriers and intrusion detection, and power supply.

“After the completion of our most recent financings, management consulted with top industry experts to ensure the greatest likelihood of success during our prelicence inspection and to prepare the site for future expansion,” commented Beleave chief executive officer Roger Ferriera. “We saw great benefit to upgrading our current facility and nucleus to quickly handle expansions well beyond our initial footprint, which will likely translate to significant time and cost savings as the company advances.”

The company received $1,302,500 by way of warrant exercises in the fourth quarter of 2016.

The company further wishes to announce that it has entered into a debt settlement agreement with certain consultants and directors whereby Beleave will settle $149,685 of its outstanding payables through the issuance of 100,460 common shares in the capital of the corporation at a deemed price of $1.49 per common share.

The corporation also wishes to announce the issuance of 1.32 million options exercisable at $1.75 per common share to various consultants and members of the board of directors. All options expire five years from issuance.

About Beleave

Beleave is a biotech company committed to becoming a licensed producer under the access to cannabis for medical purposes regulations. Beleave’s wholly owned subsidiary, FAM, has applied for a licence to cultivate and sell medical marijuana pursuant to the ACMPR. As of the date hereof, FAM has successfully advanced past the review stage and has been issued an affirmation letter from Health Canada prior to a request for a pre-licensing inspection.


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