Everest BioPharma Gains Eligible Business Corporation Status allowing for 30% tax credit for BC investors. Adding value to its COR Approval from Health Canada
KELOWNA, BC, Feb. 23, 2021 /CNW/ - Everest BioPharma International Inc. (the "Company" or "Everest BioPharma") received, in February 2021, its notification of Eligible Business corporation ("EBC") under the BC Venture Capital Act allowing BC investors a 30% Tax Credit. The Company is presently completing the internal build-out of its state-of-the art cannabis extraction systems in Kelowna, BC. The first sales of live rosen and its derivatives are expected in May, 2021.
Everest is installing large capacity ice water bubble hash solventless processing equipment with ancillary rosen presses, which also allows the ability for "organic" registration, adding further value to its products.
Nigel Boast, President and CEO of Everest BioPharma stated; "Our registration as an eligible business corporation "EBC" in BC (attracting a 30% tax credit) will facilitate funding required for us to fully implement our business plan which firstly focuses on tolling service fees and then the sale of our proprietary medical CBD products. Two recent standard processing license sales: Premium 5 with a similar business model ($40M), and LYF Food ($43M) indicate a high valuation for Everest.
Rob Hatch, COO of Everest BioPharma stated; "By processing from frozen, we save our tolling customers time and money because there is no requirement to trim and dry the product. There are approximately 147 standard cultivation licenses in Canada without extraction licenses."
About Everest BioPharma International Inc.
Everest BioPharma is a private company that has recently received its notification of Eligible Business corporation ("EBC") allowing BC investors a 30% Tax Credit.
Previously, Everest was granted a certificate of readiness by Health Canada allowing for the standard processing license to be expedited directly after completion of the internal build out, expected to be April 2021.
Established and run in Kelowna, British Columbia, Everest Biopharma has a highly skilled team comprising an experienced President and CEO Nigel Boast (B.Sc., LLB, MBA, PMP (retrd), COO Robert Hatch (B.Sc. (Hons), and Braden Job, (B.Sc Hons. Analytical chemistry).
Everest BioPharma is focused on the extraction business and the production and sale of value-added goods as well as the sale of its extraction services to other Canadian Cannabis Companies.
SOURCE Everest BioPharma International Inc
Investment information please contact: Nigel Boast, President & CEO, Everest BioPharma International Inc., Telephone: 778-581-4003; www.everestbiopharma.ca
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