Blackhawk Resource Corp. Provides Update on Strategic Shift into the Cannabis and CBD Industries
Calgary, April 17, 2019 - Blackhawk Resource Corp. (CSE: BLR) (the "Corporation" or "Blackhawk"), is pleased to provide an update on its future plans related to make a strategic shift into the cannabis and CBD industry. As previously announced Blackhawk is entering the cannabis and CBD industry through two acquisitions, CFPM Management Services Ltd., which operates under the name, The Green Room ("The Green Room"), and Noble Line Inc. ("Noble"), which operates in the on-line CBD industry. With the acquisition of The Green Room shareholders will have the opportunity to benefit from one of the fastest growing industries in North America.
Fred Pels, CEO of The Green Room stated, "With the United States Congress passing the Farm Bill in 2018, (Agricultural Improvement Act) and over 30 states legalizing some form of cannabis, whether it be medical, recreational or both, The Green Room's management team expects that full federal legalization is coming.
In preparation for this eventual event, The Green Room has identified and started the process of reviewing several locations in Washington, Oregon, and California, states that have legalized cannabis. With extensive knowledge gained from the Canadian cannabis legalization process, the Green Room team has identified new markets in States currently transitioning to legalized cannabis. The Green Room will be working in tandem with policy makers on both municipal and state levels to ensure the expansion of the Green Room brand is efficient and effective. Potential U.S. acquisitions will be scrutinized based on current revenue, potential revenue and foreshadowed value once federal legalization comes into play.
Through our existing contacts in the U.S., we will be able to quickly build the necessary infrastructure and systems to promote The Green Room brand and position it as a market leader. The Green Room expansion strategy is not just locations, but rather their quality, thereby ensuring the right demographics, customer volume and the opportunity to achieve high volume sales and maximize profitability."
"Through the additions of The Green Room and Noble, we plan to give our investors and shareholders exposure to the booming retail cannabis business led by one of the most acclaimed and successful cannabis entrepreneurs of our era. Mr. Pels has been a pioneer in the industry for years and he plans to take his experience, knowledge and successful industry relationships and leverage them to turn The Green Room into one of the most recognized brands in North America" says Dave Antony, CEO of Blackhawk Resource Corp.
For further information on please contact:
Blackhawk -Chief Executive Officer
The Green Room
Noble Line Inc
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Certain information set forth in this news release contains forward-looking statements or information ("forward-looking statements"), including details about the Transactions. By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the Corporation's control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, environmental risks, operational risks, competition from other industry participants, stock market volatility, the risks that the parties will not proceed with the Transactions, that the ultimate terms of the Transactions will differ from those that currently are contemplated and the ability to access sufficient capital from internal and external sources. Although the Corporation believes that the expectations in its forward-looking statements are reasonable, its forward-looking statements have been based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. Accordingly, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future results, levels of activity or achievements. Risks, uncertainties, material assumptions and other factors that could affect actual results are discussed in our public disclosure documents available at www.sedar.com. Furthermore, the forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, the Corporation does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.
Completion of each Transaction is subject to a number of conditions, including but not limited to, CSE acceptance and if applicable, shareholder approval. Where applicable, the Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Transaction will be completed as proposed or at all.
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All information contained in this press release with respect to the Corporation and Green Room was supplied by the Corporation and Green Room, respectively, for inclusion herein.
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