Vancouver, British Columbia – The press wire – January 6, 2022 – Blackhawk Growth Corp. (the “Company”) (CSE: BLR) (CNSX: BLR.CN) (Frankfurt: 0JJ) is pleased to provide an update on the operations of its wholly owned subsidiary, TERP Wholesale, LLC (âTERPâ). The acquisition of TERP was successfully completed on December 1, 2021.
For the nine months ended September 30, 2021, TERP presented unaudited Canadian dollar results as follows:
Gross income $ 2,503,133
Gross profit $ 1,533,923
Net income $ 249,838
TERP is in its fourth year of operation and has seen consistent revenue growth in each year of operation. Readers are cautioned that these figures are prepared by management and are not audited. Actual results may differ after the audit is completed.
Update of operations
TERP has expanded its co-packing and transportation services and has been selected by several other transportation customers for its logistics arm of the business. TERP supplies products statewide for several nurseries that produce clones for dispensaries as well as for growers. Recently, TERP added two notable clients to its growing list:
Humboldt Farms is a big Californian brand. TERP will pack 200 pounds of its dried flowers per week. Their flower will be packaged in 1/8 oz jars. In total 25,600 pots.
TERP will also provide co-packing and final transport for Rimrock Farms. They have two acres of cultivation and are expected to provide 100 pounds per week for TERP services.
âI am delighted to present the growth of TERP Wholesale,â said Frederick Pels, CEO of Blackhawk Growth. âTERP continues to add important customers to its distribution portfolio and once all of the synergies of the Blackhawk portfolio are deployed, I expect revenues to continue to increase. I look forward to sharing our progress with our shareholders over the coming quarters.
About TERP Wholesale LLC
TERP is a fully licensed distribution center in the State of California. TERP packs and manufactures some of the highest quality exotic brands and high THC products in the State of California. The team includes several distribution professionals, guided by proven leadership with extensive experience in cannabis and quality guaranteed distribution. Current brands include, but are not limited to Sun delight, Norcal’s Finest, California Cannabis, and Scoopz.
In addition, TERP provides supply chain solutions to the industry through the use of innovative technologies, information management experts, security specialists and sales / marketing professionals. Using proven distribution methods, TERP’s model is based on a perishable supply chain strategy that emphasizes the importance of quality assurance and customer satisfaction.
About Blackhawk Growth
Blackhawk is an investment holding company that seeks to create substantial value for its shareholders through the acquisition and development of high growth companies. It has focused its investments in the health, cannabis and cannabidiol sectors in Canada and the United States. Its portfolio of companies includes TERP Wholesale, Sac Pharma, LeichtMind Clinics, Noble Hemp, Spaced Food, NuWave Foods, MindBio Therapeutics, Digital Mind Technology as well as a stake in Gaia Grow Corp. (CSE: GAIA).
The company diligently posts updates via videos on the company’s official YouTube channel https://www.youtube.com/channel/UCs4f2tt3yAvOGhNLjgNOy-A
Please join the conversation about our Blackhawk Group Telegram Group at https://t.me/Blackhawkgrowthcorp and visit us online at https://www.blackhawkgrowth.com.
For more information, please contact:
Frederick Pels, President and CEO
Caution regarding forward-looking statement
All statements contained in this press release, other than Statements of historical fact constitute “forward-looking information” about the Company within the meaning of applicable securities laws. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans for the future and readers are cautioned that such statements may not be appropriate for other purposes. By their nature, this information is subject to inherent risks and uncertainties which may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that the assumptions may not not be correct and that the objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include, without limitation, those identified and reported in the Company’s public documents under the Company’s SEDAR profile at www.sedar.com. Although the Company has attempted to identify material factors which could cause actual actions, events or results to differ materially from those described in the forward-looking information, there may be other factors which could cause actual actions, events or results to differ materially from those described in the forward-looking information, there may be other factors which could cause actual actions to differ. actions, events or results are not as expected, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.