The Canadian Bioceutical Corporation announced a plan to expand its existing life sciences business into the production, processing and distribution of medical marijuana and cannabis-based medicinal products and that it intends to locate its newest venture in the City of Owen Sound, Ontario. BCC intends to launch this venture through a newly incorporated, wholly-owned subsidiary, BioCannabis Products Ltd. (BioCannabis). BioCannabis has recently submitted an application to Health Canada to become a Licensed Producer under the Marijuana for Medical Purposes Regulations (which came into force on April 1, 2014).

BioCannabis has engaged Mark Krytiuk as its Vice President of Operations. Mr. Krytiuk is a highly experienced producer of medical cannabis and has been involved with several licensed facilities under the antecedent legislation. He is bringing to BioCannabis an entire team of experienced growers and selected members of their support staff to oversee what is expected to become one of the larger medical cannabis production facilities in the country.