Alchemist is currently engaged in a non-binding Letter of Intent (LOI) for the acquisition of a 100% stake in Better Cannabis Genetics Corporation (BC Genetics), a company specializing in the research and development of cannabis strains. The terms of the intended agreement include the acquisition of an existing catalogue of cannabis varieties controlled by BC Genetics and all current and future intellectual property derived from those strains. BC Genetics will continue to develop cannabis strains on two Salt Spring Island facilities licensed by Health Canada for 2400 plants under non-expiring MMAR licenses that allow for cannabis research.
BC Genetics currently conducts research and development at two facilities with a combined capacity of approximately 2400 plants. Negotiations are under way to operate on a third Salt Spring Island facility subject to an application for an additional 375 plants under Access to Cannabis for Medicinal Purposes Regulations (ACMPR). BC Genetics has been led by Timothy Harvey of Salt Spring Island, BC, since 2009. Formerly a tissue culturist of mycological specimens, Harvey saw an opportunity to elevate quality with a coordinated breeding program within the medical cannabis community as early as 2007, when he apprenticed to the creator of the well-known sativa strain "The Purps". On Salt Spring since 2010, he has worked with Gulf Islands growers to collectively curate a pool of elite genetics that now forms the basis of the Alchemist LOI. He works closely with Albert Kasprowicz, BSc. on cannabis breeding and research.
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Alchemist Mining Inc.
1240-789 W Pender St.
Vancouver, BC, V6C 1H2