Vancouver, British Columbia - TheNewswire - November 30, 2020 - Blackhawk Growth Corp. (CSE:BLR) (CNSX:BLR.CN) (Frankfurt:0JJ) (OTC:BLRZF) (the "Company"), is pleased to provide an update on the operations of Sac Pharma Partners USA ("SAC Pharma"), its wholly owned subsidiary.
Blackhawk acquired Sac Pharma on July 23, 2020 and since the date of acquisition has trailing unaudited revenue for the 4 month period since the acquisition C$357,000, with gross margin of approximately C$278,000. Sac Pharma reached a significant milestone in the past 3 months by reaching a steady operational state. Sac Pharma is now on schedule to continue harvesting and distributing product monthly. This allows Sac Pharma to provide its customers consistent product, further strengthening the power of its supply chain. Sac Pharma's customer foundation has paved the way for expansion of its production footprint, and it is currently engaged in expanding the total square footage of growing space under its control.
Sac Pharma is the exclusive producer of Scoopz branded premium flower. Scoops is an Indica-dominant hybrid cannabis strain, bred by crossing three powerhouse strains, Gelato, Cookies & Cream, and Tina. THC levels have been testing at around 27%. This is a high end lifestyle brand whose products have been featured in pop culture & recording artist productions. Its name is synonymous with quality and for maintaining some of the best genetics in the industry. With products carried at Cookies Melrose, Cookies San Francisco, Dr. Greenthumbs stores in Sacramento and Los Angeles, and many other retailers statewide, this coveted high end product is allocated to sales reps and stores based on volume, and is sold out every harvest.
Scoopz also won 1st place in the High Times Cup as a collaborating contributor for best indica dominant hybrid.
SAC Pharma has formed an extensive supply chain that spans the entire State of California, contracting with retailers and distributors in key markets including Los Angeles, San Francisco and Sacramento.
Sac Pharma's signature products include the coveted Black Truffle, White Truffle strains, along with Bacio and Gelato.
"The team has done a great job timing production so we can provide the market with consistent, great quality product all year long" says Corey Travis, President of Sac Pharma. "This is especially important as demand surges amidst the COVID-19 pandemic. It has taken many months to streamline our production facility, but with that behind us, armed with proprietary data and unparalleled genetics, we see the ability to thrive in this growing marketplace. We are currently gearing up for a 2021 that will see record product delivered to customers who have pre-ordered to get in queue. We look forward to scaling with this incredibly loyal and growing customer base" continued Mr. Travis.
The Company cautions that figures for revenue and margin generated by Sac Pharma have not been audited and are based on calculations prepared by management. Actual results may differ from those reported in this release once these figures have been audited.
For more information on Blackhawk, please visit our website at:
Frederick Pels, Chief Executive Officer
Cautionary Note Regarding Forward-Looking Statement
All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to the Company within the meaning of applicable securities laws, including with respect to the future prospects of the business of the Company and Sac Pharma USA. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited those identified and reported in the Company's public filings under the Company's SEDAR profile at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
Copyright (c) 2020 TheNewswire - All rights reserved.