Bonify Secures Sales License For Medical Cannabis From Health Canada

Announcement comes on the heels of the appointment of Jeff Peitsch as Executive Chair of the Board and Dalbir Bains as the new President and CEO

WINNIPEG, June 15, 2018 /CNW/ - Winnipeg-based licensed producer Bonify announced that it was granted a sales license by Health Canada under the Access to Cannabis for Medicinal Purpose Regulations (ACMPR). As the only independent cannabis company in Manitoba to receive a sales license, Bonify is now permitted to sell its high quality cannabis directly to patients registered under the ACMPR.

The announcement comes at an opportune time as the industry braces for legalization next month and follows the recent appointment of the company's new President and CEO, Dalbir Bains, who will drive the company's long-term strategic direction working with Bonify's board and shareholders. Bains succeeds Jeff Peitsch who has taken on the role of Executive Chair of the Board.

On news of receiving the sales license, Peitsch said, "We are obviously quite pleased with Health Canada's decision and are thankful to our founding shareholders and key employees who worked diligently with Health Canada and many stakeholders to reach this milestone." 

Bains, who brings extensive retail pharmacy and healthcare experience to the role, as well as a focus on the growing healthcare needs of the population, concurs with Peitsch.

"We couldn't be happier to let registered patients know that they can now buy direct from Bonify, a company that truly puts its customers at the core of everything we do," said Bains. "With the Canadian cannabis industry becoming an increasingly competitive space and with customers' product preferences evolving, delivering an elevated customer and product experience is a critical success factor. Our unrivalled commitment to rolling out a differentiated sales strategy will allow us to generate significant revenues in this rapidly growing market."  

Prior to joining Bonify, Bains founded and drove the growth of Amenity Health Care, an independent pharmacy group that in four short years became one of the largest independent pharmacy groups in Canada. In 2017, Bains and a team of investors sold the group to private equity firm, TorQuest Partners.

Key facts:

• Bonify's 320,000 sq. ft. current production facility is located in Winnipeg's historic North End and has the capacity to produce over 40,000 kg of cannabis annually.
• The company received its license to cultivate cannabis for medical purposes April 10, 2017. Throughout its licensing process, Bonify engaged in focus groups with patients and doctors to better understand their respective needs and concerns.
• Bonify holds one of only two ACMPR sales licenses to sell in Manitoba.
• Bonify's significant depth of experience in customer experience management as well as pharmaceutical product and market development will serve as the foundation for the creation and commercialization of value added cannabis-derived products and services.

About Bonify

Bonify is a Canadian-owned Licensed Producer and leading provider of medical cannabis. By maximizing research findings and strictly adhering to best-in-class practices, quality standards and procedures, Bonify produces medical cannabis products to help individuals get the most out of life each and every day. With over 1,000,000 square feet of potential productive capacity at its present site in Winnipeg, Manitoba, Canada, when at full scale, Bonify will be capable of growing over 100,000 kg of cannabis annually. For more information, visit www.bonify.com.

SOURCE Bonify