(TheNewswire)
Vancouver, British Columbia – TheNewswire - April 19, 2022 – Blackhawk GrowthCorp. (CSE:BLR ) ; ( Frankfurt:0JJ) (the “ Company ” or “ Blackhawk ”) ispleased to announce that its wholly-owned subsidiary, BlumDistributors Ltd. (“ Blum ”), white label division is now infull-operation and is expanding their facility to provide their ownin-house products that are formulated with the highest quality sterilesubstrates, spawn, and mycelium cultures to empower both commercialand home scale growers in their mycological journey.
Blum recently signed a contract to provide a whitelabel solution for an arm's length company, Applied Myco. The contractguarantees a minimum order of 500 bags per month during its Phase 1trial and is expected to increase to up to 2,000 bags per month inPhase 2 and 3 over the next 12 months. The guaranteed minimum orderwill generate approximately $12,500 per month in gross revenue andwould increase to approximately $50,000 per month assuming an order of2,000 bags. Gross margin on the products historically has beenapproximately 50%. Blum has started to fulfill this order and willupdate Blackhawk shareholders as the contract progresses.
With Blum’s controlled and sterilized inoculationlab, Applied Myco has entrusted its full lab operations team inregards to the creation and expansion of a 15 strain genetics and liveculture library. This, in turn, will empower residential andcommercial scale cultivators which is anticipated to create anadditional revenue source.
“Blum is off to a great start” said Frederick Pels,CEO of Blackhawk. “White label production is a significant step andensures Blum will capture market share rapidly. With production andexpansion occurring in tandem, I am confident that Blum will continueto grow and I look forward to updating shareholders as Blumprogresses.”
Blum recently signed another sale which is expected tostart delivery in April, and will see Blum expand its cultivation througha 14,000 sq ft commercial project which is guaranteed to begin with anorder for 5,000 bags per month, which is expected to create grossrevenue of approximately $125,000 per month. When the cultivation centre renovations are completed, thecontract provides for production increases of5,000 per cycle to a maximum size of 50,000 bags per month. If themaximum contract deliveries are reached, the order will generate inexcess of $1,000,000 per month in gross revenue for Blum, based oncurrent sales prices.
Blum’s commercial cultivation client has recentlyreceived their building permit approvals earlier than anticipated andis now commencing the first phase of an initial 5000 bag order.
About Blum Distributors
Blum is an established mycologysupplier with its own leased production facilit y .Blum’s operations are systemically rooted in biodiversity. Theywholly-own the value chain from cultivation through to their productsales, reaching both commercial and retail partners. Theirsustainability pledge is embodied in their commitment to support theirpartners in their own mycological journeys. Blum’s in-house productcultivation, distribution, and sales center provides them with anadvantage over their competitors by reducing intermediaries. Blumfully controls the quality and purity of their products throughout thevalue chain, from cultivation to consumer sales. They are committed toproviding the utmost highest quality suppliesand solutions to empower both commercial and home scale growers intheir mycological journey.
For more information regarding Blum visit theirwebsite: www.blumdistributors.com
About Blackhawk Growth
Blackhawk is an investment holding company looking tocreate substantial value for its shareholders through the acquisitionand development of high growth companies. It has focused itsinvestments in the health, cannabis and cannabidiol industries in bothCanada and the United States. Its portfolio of companies includes SacPharma, Terp Wholesale, LeichtMind Clinics, Noble Hemp, Spaced Food,Stable Foods, and MindBio Therapeutics, Digital Mind Therapeutics aswell as an equity position in Gaia Grow Corp. (CSE:GAIA).
The Company diligently posts updates through videosfrom the official company YouTube channel https://www.youtube.com/channel/UCs4f2tt3yAvOGhNLjgNOy-A
Please join the conversation on our Blackhawk groupsupporter’s telegram group at https://t.me/Blackhawkgrowthcorp and visit us online at https://www.blackhawkgrowth.com .
For further information please contact:
Frederick Pels, Chief ExecutiveOfficer
(403)-991-7737
fred@ blackhawkgrowth.com
Cautionary NoteRegarding Forward-Looking Statement
All statements in this pressrelease, other than statements of historical fact, are “forward-looking information”with respect to the Company within the meaning of applicablesecurities laws, including with respect to the future operations ofBlum Distributors Ltd. The Company provides forward-looking statementsfor the purpose of conveying information about current expectationsand plans relating to the future and readers are cautioned that suchstatements may not be appropriate for other purposes. By its nature,this information is subject to inherent risks and uncertainties thatmay be general or specific and which give rise to the possibility thatexpectations, forecasts, predictions, projections or conclusions willnot prove to be accurate, that assumptions may not be correct and thatobjectives, strategic goals and priorities will not be achieved. Theserisks and uncertainties include but are not limited those identifiedand reported in the Company’s public filings under the Company’sSEDAR profile at www.sedar.com. Although the Company has attempted toidentify important factors that could cause actual actions, events orresults to differ materially from those described in forward-lookinginformation, there may be other factors that cause actions, events orresults not to be as anticipated, estimated or intended. There can beno assurance that such information will prove to be accurate as actualresults and future events could differ materially from thoseanticipated in such statements. The Company disclaims any intention orobligation to update or revise any forward-looking information,whether as a result of new information, future events or otherwiseunless required by law.
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