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Friday, December 4, 2020

Should You Beleave Inc (OTCMKTS: BLEVF)?

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One of the clear offshoots of the success of the big players in the Canadian cannabis patch is the search for the next up-and-coming play, and Beleave Inc (OTCMKTS: BLEVF) is an interesting candidate from that perspective. In fact, while the stock has been in a choppy consolidation mode of late, we do see a lot of cash building on the balance sheet and a management team willing to strike out and push for some international growth.

As a case in point, the company just announced it has acquired 51% of Procannmed S.A.S., a privately held company that is fully licensed for the cultivation, production, extraction, and distribution of both tetrahydrocannabinol (THC) and cannabidiol (CBD) medical cannabis in Colombia. According to the release, “The other 49% ownership was retained by the Colombian based operator ITRUST HOLDINGS S.A.S. These licenses enable the propagation of the full range of cannabis varieties and further enable Procannmed to develop a complete offering of standardized, medicinal-grade formulations.”

Beleave Inc (OTCMKTS: BLEVF) is a biotech company focused on the production of medical marijuana in Canada. The Company’s wholly-owned subsidiary, First Access Medical Inc., has received a license to cultivate medical marijuana at its facility pursuant to the Access to Cannabis for Medical Purposes Regulations outlined by Health Canada.

The Company is actively working towards its sales license, the development of patents through research with Canadian institutions and the research and development of smoke harm reduction products.

In short, Beleave Inc., together with its subsidiary, First Access Medical Inc., operates as a medical cannabis company in Canada. The company cultivates and sells cannabis for medical purposes.

Beleave Inc. is headquartered in Flamborough, Canada.

According to company materials, “Beleave Inc. is a biotech company and Beleave’s wholly-owned subsidiary Beleave Kannabis Corp. (formerly First Access Medical Inc.) is a licensed producer pursuant to the ACMPR. Beleave’s purpose-built facility is located in Hamilton, Ontario.”

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As noted above, shares of Beleave vaulted higher on Tuesday. The most proximal catalyst is the company’s announcement that it has acquired 51% of Procannmed S.A.S., a licensed medical cannabis producer based in Colombia.

“We have been conducting extensive market research in various parts of the world and see Colombia as a tremendous growth opportunity,” commented Beleave CEO, Andrew Wnek. “Global cannabis prohibition is coming to an end and we plan to capitalize on this in multiple jurisdictions of interest. Colombia, in particular, provides regulatory support and an outstanding, competitive cost structure making it an attractive destination for foreign investment.”

The chart shows -7% stripped out of share pricing for the stock in the past week, a bounce that has taken root amid largely bearish action over the larger time frame. In addition, the name has seen interest climb, with an increase in recent trading volume of approaching 190% beyond its prior sustained average level.

“We are delighted to have reached an agreement with Beleave,” said Alberto Jose Esmeral Ramirez, President of ITRUST. “This is an exciting time in the cannabis industry, and Colombia offers a special opportunity thanks in part to unprecedented government support as the country aims to become one of the largest global exporters.”

Now commanding a market cap of $45.7M, BLEVF has a significant war chest ($10.7M) of cash on the books, which must be weighed relative to virtually no total current liabilities. The company is pre-revenue at this point. We will update the story again soon as developments transpire. Sign-up for continuing coverage on shares of $BLEVF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in $BLEVF, either long or short, and we have not been compensated for this article.

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