Vancouver, British Columbia – TheNewswire – 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 (“TERP”). The acquisition of TERP was successfully completed on December 1, 2021.
For the nine months ended September 30, 2021, TERP reported unaudited CDN dollar results as follows:
Gross Revenue $ 2,503,133
Gross Profit $ 1,533,923
Net Income $ 249,838
TERP is in its fourth year of operations and has seen consistent revenue growth in each year of operations. Readers are cautioned that these figures are prepared by management and are unaudited. Actual results may defer once an audit has been completed.
TERP has expanded its co-packing and transport services and has been retained by several more transport clients for its logistics arm of the business. TERP delivers products across the state for multiple nursery companies that produce clones for dispensaries along with cultivators. Recently, TERP has added two notable clients to its ever-expanding list:
Humboldt Farms is a major California brand. TERP will be co-packaging 200 pounds of their dried flower per week. Their flower will be packaged into 1/8th oz jars. Totaling 25,600 jars.
TERP will also provide co-packing and last-leg transportation for Rimrock Farms. They have two acres of cultivation and are expected to provide 100lbs per week for TERP’s services.
“I am excited to showcase the growth of TERP Wholesale” said Frederick Pels, CEO of Blackhawk Growth. “TERP continues to add significant clients to its distribution portfolio and once all of Blackhawk’s portfolio synergies are deployed, I expect to see revenues continue to increase. I cannot wait to share 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 packages and manufacturers some of the highest quality exotic brands and high THC products in the state of California. The team encompasses several distribution professionals, guided by a proven leadership with extensive experience in cannabis and quality-assured distribution. Current brands include, but are not limited to Sunshine Delight, Norcal’s Finest, California Cannabis, and Scoopz.
In addition, TERP provides supply chain solutions to the industry with the use of innovative technology, information management experts, security specialists, and sales/marketing professionals. Utilizing 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 looking 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 industries in both 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 an equity position in Gaia Grow Corp. (CSE:GAIA) .
The Company diligently posts updates through videos from the official company YouTube channel https://www.youtube.com/channel/UCs4f2tt3yAvOGhNLjgNOy-A
For further information please contact:
Frederick Pels, Chief Executive Officer
Cautionary Note Regarding Forward-Looking Statement
All statements in this press release, other than statements of historical fact, are “forward-looking information” with respect to the Corporation within the meaning of applicable securities laws. The Corporation provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that 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 assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited those identified and reported in the Corporation ’s public filings under the Corporation’s SEDAR profile at www.sedar.com. Although the Corporation has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, 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 Corporation disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.