Indigenous Bloom Hemp Corp. provided update on final joint venture agreement between Indigenous Bloom Hemp Corp. and Dykstra Greenhouses.

Indigenous Bloom announced that it has entered into a joint venture agreement with Dykstra Greenhouses. Under the terms of the agreement, IBH will provide the equipment and expertise required for Dykstra to extract hemp biomass. The agreement includes the basis upon which Dykstra will pay for the equipment by sharing the revenue on sales with IBH.

This agreement commenced May 2, 2022, however the implementation will not commence until the later part of 2022. Furthermore, as per the terms of the agreement Dykstra will provide; Operation of the extraction facility site. Extraction of hemp biomass to create product to be used in the creation of hemp distillate.

Indigenous Bloom Hemp Corp. will in return provide the following: The necessary equipment, assembly, installation, training, and testing of the extraction equipment. Hemp biomass to be supplied by a Federally Licensed supplier - Federowich Farms; Industrial Hemp Biomass will be supplied by Federowich Farms, a federally licensed hemp farm in Ashville, Manitoba.

Dykstra Greenhouses will receive supply from Federowich Farms, through its federal hemp license.