[12yearplan]

Expert market OTC
https://www.otcmarkets.com/stock/NOBDF/overview
so they are now in Expert market on the OTC. you can put in a market sell order and get 0.00001...basically 0. you can wright it off. This has a very good share structure. market cap is current at $6000. its a shell. Its prime for a custodianship and then a reverse merger. depending on the company with this small OS (outstanding shares). 30 cents would only be a 2 million market cap. basically any company going public would be worth more than that. the problem is it could take years. I will wait it out. worse thing is it never happens and eventually you get your broker to remove it for a 100% loss.
https://stockhouse.com/companies/bullboard/nobdf/north-bud-farms-inc?postid=35467737
Post by Cretanboy on May 28, 2023 8:42am

[12yearplan]

[JenningsB]

Is NOBDF still in business? Did they ever produce anything in the Quebec facility? No updates since June and it still isn't trading in Canada.

[12yearplan]

TORONTO, June 02, 2020 (GLOBE NEWSWIRE) -- North Bud Farms Inc. (CSE: NBUD) (OTCQB: NOBDF) ("NORTHBUD" or the "Company") provides shareholders with the following corporate update:

U.S. Operations

The Company is pleased to announce that it has signed a definitive agreement to sell all the shares of its U.S. subsidiary, Bonfire Brands USA, Inc. (“BBUSA”), to an entity controlled by Mr. Justin Braune, the President of BBUSA.  The transaction constitutes a related-party transaction as defined in Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as the fair market value of the shares of BBUSA sold to the acquiror does not exceed 25% of the Company’s market capitalization.  This determination is based upon the fact that the value of the net assets of BBUSA is negligible as the assets acquired were, and continue to be, highly leveraged.  In light of the current market conditions, it is no longer economically viable for the Company to continue to try to sustain and develop these assets.

Under the terms of the transaction, the acquiring party is responsible for and guarantees all of BBUSA’s past and future liabilities and capital requirements, including all of the outstanding intercompany debts owed to NORTHBUD up to a maximum of CDN$2 million.  The acquiror will retain rights to the name “Bonfire Brands” and the Company will no longer proceed with the change of name and symbol that was approved at the last shareholder meeting. 

“We are pleased with the successful completion of this deal to divest our U.S. holdings as it will significantly improve the Company’s balance sheet and available cash flow, a key Company objective in light of the difficult economic climate brought on by Covid-19,” said Ryan Brown, NORTHBUD’s Executive Chairman and Interim CEO.  “The structure of this transaction represents the achievement of the Company’s previously-announced plan to remove its direct exposure to the U.S. cannabis sector in order to eliminate the increasing administrative and capital costs associated with such holdings.”

Failure-to-File Cease Trade Order Issued
The following is an update on the previously announced management cease trade order (the "MCTO") issued by the Ontario Securities Commission on March 31, 2020.  The MCTO was issued in connection with the delay by the Company in filing its annual financial statements, management's discussion and analysis and related officer certifications for the financial year ended November 30, 2019 (collectively, the "Required Filings") before the prescribed deadline of March 30, 2020.  

Sequence of Events
As previously disclosed, the Company completed two material U.S.-based acquisitions in November 2019, weeks prior to its year-end, thus obliging the Company to include purchase price accounting and post-acquisition activity for both acquired companies into its consolidated financial statements for the financial year ended November 30, 2019.

The Company took decisive steps to augment its capabilities to manage and report on its expanded operations including the appointment of advisors, valuation and taxation experts to assist with the year-end reporting and audit requirements; the appointments of Sean Homuth as CEO in December 2019, Adam Shapero as General Counsel in January 2020, and Jeffrey Stoss as CFO in February 2020; and, the addition of Jennifer Ross-Carriere and Lisa Mayhew as Directors in December 2019 and February 2020 respectively. Unfortunately, Sean Homuth had to take a medical leave of absence from the Company on April 28, 2020, which resulted in some delays to the progress of the year-end audit as he was interim CFO for the Company around the time of the U.S. acquisitions.

Due primarily to the inability of management, and its advisors and auditors to travel to the U.S. to conduct onsite field work, and due to ongoing travel and work restrictions in both Canada and the U.S. imposed by the impact of COVID-19 and the additional audit and reporting work related to the Company’s stated intention to divest of its U.S. operations as announced May 6, 2020, the Company could not complete and file the Required Filings for the year-ended November 30, 2019 and the quarter-ended February 29, 2020 before the end of the May 31, 2020 deadline contemplated by the MCTO.  The Company, its advisors and its independent auditor, are continuing to work diligently to complete the necessary work and the Company intends to make the Required Filings as soon as possible.

In connection with this delay, on June 2, 2020 the Ontario Securities Commission ("OSC") issued a failure-to-file cease trade order ("FFCTO") against the Company.

The FFCTO will affect trading in all securities of the Company in Canada and will remain in effect until such time as the Company has made the Required Filings.  This has resulted in a halt in trading of the Company’s shares on the Canadian Securities Exchange (CSE).  Once the Required Filings are made within 90 days of the date of the FFCTO, such filings will constitute the Company’s application to have the FFCTO revoked.  The Company will issue a further news release when the Required Filings have been made, and it is expected that the Company’s stock will resume trading on the Canadian Securities Exchange at that time.

The FFCTO, among other things, (i) revokes the MCTO in respect of certain officers of the Company, which prohibited those officers from trading in the Company’s securities until after the Company cured its disclosure defaults; and (ii) prohibits any person or company from trading, directly or indirectly, in any security of the Company in the Province of Ontario, and in every other province or territory of Canada in which the Company is a reporting issuer and in which Multilateral Instrument 11-103 - Failure-to-File Cease Trade Orders in Multiple Jurisdictions applies.

A copy of the FFCTO will be posted on the website of the Canadian Securities Administrators at cto-iov.csa-acvm.ca.  The Company will also post a copy of the FFCTO on the Company's website.

Private Placement Offering Suspended
The Company also wishes to announce that it has voluntarily suspended the anticipated closing of the previously announced private placement offering of up to $2,000,000 of $0.05 Units until the FFCTO is revoked. The Company did not accept any of the subscriptions and did not issue any securities under the private placement.   At this time, the Company continues to evaluate options to preserve shareholder value and provide the Company with the required financial and operational resources required for ongoing operations. During the FFCTO period the Company will continue to update shareholders on the progression of these initiatives.

Additional Management Update to Follow Shortly
Management will be delivering a comprehensive business update to the Company’s shareholders in the coming days, where it will provide further details regarding the Company’s current position and outline plans for moving forward.

About North Bud Farms Inc.
NORTHBUD owns and operates, through its Canadian subsidiary, GrowPros MMP Inc., a licensed cannabis facility in Quebec, Canada. The Company built and owns a state-of-the-art purpose-built cannabis production facility located on 135 acres of agricultural land in Low, Quebec, Canada. The Low, Quebec facility currently has 24,500 sq. ft. of licensed indoor cultivation space; the Company has recently submitted its licence amendment application to Health Canada to add an additional 1,000,000 sq. ft. of outdoor cultivation space.

For more information visit: www.northbud.com

[12yearplan]

TORONTO, April 28, 2020 (GLOBE NEWSWIRE) -- North Bud Farms Inc. (CSE: NBUD) (OTCQB: NOBDF) ("NORTHBUD" or the "Company") provides shareholders with the following corporate update:

Financing

Further to the Company’s press releases of January 27, 2020 and February 14, 2020, the Company continues to pursue the capital required to fund ongoing and proposed corporate initiatives. Recent volatility in the overall public markets coupled with the reduction in market capitalization of cannabis companies that began last fall has exacerbated already difficult conditions in which management continues to pursue debt funding solutions secured by the Company’s Quebec-based licensed cannabis cultivation facility. The Company recently obtained a third-party appraisal as to the use and value of its facility at $6,000,000. This represents a potential of $3,200,000 in unencumbered equity that could be leveraged to provide the capital needed to maximize operations at the facility. The Board and executive management remain committed to seeking out all options to secure the additional working capital required to further the Company’s corporate objectives in a manner that will maximize long-term value for all NORTHBUD stakeholders.

Corporate Operations and Restructuring

Due to government imposed COVID-19 restrictions, effective March 13, 2020, the Company has been operating under a compliant work-from-home protocol. To date the Company has not reduced staffing and all employees remain engaged in a full-time capacity. The Company will continue to monitor these government-imposed protocols and adjust operations accordingly. NORTHBUD announces that effective immediately Sean Homuth, the Company’s CEO, will be taking a medical leave of absence from the Company. During his medical leave, Sean will unfortunately not be able to be involved with the Company. The Board has appointed Ryan Brown, Executive Chairman and a founder of the Company, as the Interim CEO and, effective immediately, Ryan will assume all of Sean’s duties and responsibilities during his leave of absence.

“I would like to thank Sean for his efforts in helping the Company navigate these challenging times. The entire NORTHBUD family wishes him well during his leave for a speedy recovery, and we look forward to welcoming him back once he’s returned to full health. We ask that everyone respect Sean’s privacy during this time,” stated Ryan Brown, Executive Chairman and Interim CEO of NORTHBUD. “As the founder and largest capital investor, I remain committed to the long-term success of NORTHBUD and will do my best to continue to drive the Company forward.”

Quebec Cultivation Facility

Although cannabis producers have been deemed essential services under government initiatives, the permissible activities are limited to basic maintenance of existing operations. The Company was advised that hiring staff and commencing a new operation does not qualify. In addition, the Company understands that Health Canada has suspended, effective March 13, 2020, all new licence onboarding assistance services due to COVID-19 related re-structuring. The regulator has advised licensees that this service will return as prioritized by Health Canada but could not commit to a specific timeframe for the reinstatement of this crucial service. The Company received its standard cultivation licence on March 13, 2020 and its Canada Revenue Agency permit on April 20, 2020 and is therefore now permitted to receive starting materials and commence cultivation.

In light of these increased restrictions and reduced regulatory support, the Company will only begin full commercial-scale operations after social distancing restrictions are lifted and the necessary capital is secured. As an interim measure, the Company has modeled out multiple production scenarios based on a variety of potential societal normalization timeframes and required capital deployment in an effort to maximize efficiencies while responsibly managing the Company’s limited financial resources.

Onboarding a new facility of this scale requires significant capital, execution and co-ordination. Management will continue to monitor the government directives to ensure a successful startup of the Quebec facility within the financial and social restrictions that present themselves. “Our facility is located in a vulnerable area with a high concentration of at-risk citizens and limited medical services. The local authorities have been vigilant in monitoring travel and business activities in the area and the Company is committed to abiding by these restrictions and conducting our operations in a manner that respects these efforts and protects the health and safety of our community,” said Ryan Brown, Executive Chairman and the Company’s Interim CEO and CEO of GrowPros MMP Inc., the Company’s licensed subsidiary.

U.S. Operations

The Company’s U.S. subsidiary, Bonfire Brands USA (“BBUSA”), is pleased to announce that it has received its first payments under the previously announced (see press release dated April 15, 2020) master lease agreement for its California farm. This agreement is the first step to implementing BBUSA’s asset light approach focused on a low capital expenditure distribution, branding and royalty model.

Over the past 4 months, BBUSA has worked diligently to try to build value in both its California and Nevada based projects. Due to limited resources and increasing liabilities, BBUSA intends to continue with the restructuring of its U.S. operations into a limited asset model that will see it focus on passive revenue streams and partnerships as opposed to investing directly into capital expenditures. The culmination of the master lease agreement for the Company’s California farm, as previously announced, represents the first step towards accomplishing that goal. Management, in co-operation with the Board of NORTHBUD, has begun to evaluate proposals to reduce the Company’s and BBUSA’s capital requirements and liabilities, including but not limited to directors’ and officers’ liability insurance and continually increasing administrative costs associated with multi-jurisdictional operations. At the present time, the aforementioned items related to U.S. operations represent the Company’s single largest expense; the reduction of those costs, while maintaining revenue streams will result in the preservation of the long-term value of assets.

Management Cease Trade Order Update

The Company provides an update with respect to the previously announced management cease trade order (the "MCTO") issued by the Ontario Securities Commission on March 31, 2020.

The MCTO was issued in connection with the delay by the Company in filing its annual financial statements, management's discussion and analysis and related officer certifications for the financial year ended November 30, 2019 (collectively, the "Required Filings") before the prescribed deadline of March 30, 2020.

The Company continues to work closely with its auditor and expects to file the Required Filings before the end of May 2020.

The Company is providing this status update in accordance with National Policy 12-203 Management Cease Trade Orders ("NP 12-203"). The Company intends to follow the provisions of the Alternative Information Guidelines set out in NP 12-203, including the issuance of bi-weekly default status reports in the form of news releases, for as long as the Company remains in default. The Company confirms as of the date of this news release that there has been no material change in the information contained in the default announcement issued on March 13, 2020 and there is no other material information concerning the affairs of the Company that has not been generally disclosed.

Delayed Filing of Interim Disclosure Documents Pursuant to OSC Blanket Instrument 51-502

The Company announces that, in accordance with Ontario Instrument 51-502 Temporary Exemption from Certain Corporate Finance Requirements of the Ontario Securities Commission (the “Blanket Exemption Order”), which was adopted for the purpose of providing certain filing and other relief to issuers in light of the challenges posted by the COVID-19 pandemic, it will be delaying the filing and delivery of certain of its continuous disclosure documents.

The Company is relying on the Blanket Exemption Order in delaying (i) the filing of its interim financial statements and related management discussion and analysis for the three months ended February 29, 2020 (collectively, the “Required Interim Filings”) and (ii) compliance with the delivery requirements of applicable securities laws relating to the Required Interim Filings. The officers and directors of the Company and certain other persons will remain subject to a trading black-out pursuant to which such persons are prohibited from trading in any securities of the Company until the end of the second full trading day following the day on which the Required Interim Filings are filed on SEDAR and a corresponding news release is issued by the Company.

Other than as disclosed in the Company's press releases, there have not been any material business developments since the date that the last financial statements of the Company were filed.

About North Bud Farms Inc.

NORTHBUD owns and operates, through its subsidiaries, licensed cannabis facilities in Canada, California and Nevada. Bonfire Brands USA, the Company’s U.S. subsidiary, acquired cannabis production facilities in Salinas, California and Reno, Nevada in late 2019. The Salinas, California 11-acre farm is actively cultivating cannabis in its 60,000 sq. ft. of licensed greenhouse production space. The Reno, Nevada facility, located on 3.2 acres of land, was acquired through the acquisition of Nevada Botanical Science, Inc., and includes a world-class cannabis production, research and development facility with 5,000 sq. ft. of indoor cultivation space which holds medical and adult-use licenses for cultivation, extraction and distribution. Through its Canadian subsidiary, GrowPros MMP Inc., the Company built and owns a state-of-the-art purpose-built cannabis production facility located on 135 acres of agricultural land in Low, Quebec, Canada. The Low, Quebec facility currently has 24,500 sq. ft. of licensed indoor cultivation space; the Company expects to submit its licence application to Health Canada for an additional 1,000,000 sq. ft. of outdoor cultivation space in the near future.

For more information visit: www.northbud.com

[12yearplan]

North Bud Farms Provides Management Cease Trade Order Update

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

TORONTO, April 17, 2020 (GLOBE NEWSWIRE) -- North Bud Farms Inc. (CSE: NBUD) (OTCQB: NOBDF) ("NORTHBUD" or the "Company") provides an update with respect to the previously announced management cease trade order (the "MCTO") issued by the Ontario Securities Commission on March 31, 2020.

The MCTO was issued in connection with the delay by the Company in filing its annual financial statements, management's discussion and analysis and related officer certifications for the financial year ended November 30, 2019 (collectively, the "Required Filings") before the prescribed deadline of March 30, 2020.

The Company continues to work closely with its auditor and expects to file the Required Filings before the end of May 2020.

The Company is providing this status update in accordance with National Policy 12-203 Management Cease Trade Orders ("NP 12-203"). The Company intends to follow the provisions of the Alternative Information Guidelines set out in NP 12-203, including the issuance of bi-weekly default status reports in the form of news releases, for as long as the Company remains in default. The Company confirms as of the date of this news release that there has been no material change in the information contained in the default announcement issued on March 13, 2020 and there is no other material information concerning the affairs of the Company that has not been generally disclosed.

[12yearplan]

TORONTO, April 15, 2020 (GLOBE NEWSWIRE) -- North Bud Farms Inc. (CSE: NBUD) (OTCQB: NOBDF) ("NORTHBUD" or the "Company") is pleased to announce that its U.S. subsidiary, Bonfire Brands USA Inc., has fueled its California growth with the execution of definitive agreements (the “Agreements”) for a master lease, operations and royalty arrangement with an experienced California-licensed operator (the “Cultivator”), to operate the licensed facilities at the Company’s Salinas, California farm.

Highlights of the California Deal

Partnering with a proven licensed cannabis cultivator who has been operating successfully in Salinas for several years;Significantly strengthens the Company’s facility operations while allowing the Company to increase its asset value;Reduces the Company’s capital expenditure requirements while still generating significant revenue and retaining a portion of the unlimited upside potential through a royalty agreement;Builds EBITDA-positive operations; andAccess to a cost-efficient and reliable supply chain on which to build the Company’s branded product portfolio within the state of California.
Terms of the Agreement
As per the terms of the Agreements, the Cultivator will lease the Company’s Salinas farm for 5 years, with options to extend the lease for up to an additional 5 years, and Bonfire Brands USA Inc. will receive the following consideration:

Lease payments of USD$900,000 per year, with incremental increases if the Cultivator extends the lease beyond the initial 5 year term;A royalty equal to 5% of the gross revenue generated by the Cultivator from its use of the Salinas farm; andThe right to acquire a significant portion of the product harvested each quarter on the farm by the Cultivator, at a 15% discount to market rate.
During the term of the Agreements, the Cultivator will be responsible for the costs of operating the farm, including but not limited to staffing, operations, repair, maintenance, licensing and compliance; moreover, the Cultivator is committed to funding and managing the build-out of up to an additional 230,000 sq. ft. of licensed cultivation space in order to maximize the revenue-generating potential of the property.

“We are very pleased to have concluded this deal as we partner with an established operator to build up our asset and to secure access to high-quality, low-cost cannabis,” said Justin Braune, President of Bonfire Brands USA. “This deal will allow the Company to immediately achieve EBITDA-positive operations at our largest facility without incurring significant capital investments. By retaining preferential purchasing terms, the Company can now focus on the success of its branded product lines, on the back of the estimated 40,000 pounds of production capacity that the Cultivator is expected to bring online over the next 24 months.”

[12yearplan]

TORONTO, March 16, 2020 (GLOBE NEWSWIRE) -- North Bud Farms Inc. (CSE: NBUD) (OTCQB: NOBDF) ("NORTHBUD" or the "Company") is pleased to announce that its wholly-owned subsidiary, GrowPros MMP Inc., has received its standard cultivation licence from Health Canada for 24,500 sq. ft. of indoor cannabis cultivation space at its purpose-built cannabis production facility located on 135 acres of agricultural land in Low, Quebec (the “Quebec Facility”). The receipt of this licence allows the Company to proceed with phase one (indoor cultivation) at its Quebec Facility.

Highlights:

Cultivation is expected to begin shortly with the first four months focused on establishing an inventory of mother plants and clones in preparation for the outdoor growing season that begins in late June;
The Company will soon be filing an amendment application with Health Canada to licence an additional 1,000,000 sq. ft. of outdoor cultivation space, which it hopes will be approved in the second quarter of 2020. Operationalizing the outdoor cultivation space represents phase two of the Company’s strategy for its Quebec Facility;
The Company expects the operation of the Quebec Facility to create approximately 25 local jobs in the Gatineau Valley region of Quebec; and
Upon full operation of both the indoor and expected outdoor cultivation space at the Quebec Facility, the annual production is estimated to be up to 20,000,000 grams per year.

“We are extremely excited about this announcement as it represents another significant step forward in NORTHBUD’s strategy to assemble a portfolio of cost-efficient cultivation facilities located in strategic jurisdictions,” said Sean Homuth, CEO of NORTHBUD. “The receipt of our Canadian licence now gives us active licensed facilities in California, Nevada and Canada, three of the largest and most important recreational cannabis markets in the world. These facilities will be used for the production of NORTHBUD branded cannabis products to be sold in all three of those key jurisdictions.”

“I would like to thank our shareholders for their support over the past 18 months, as well as our team for their hard work and dedication, particularly the work of Magda Farid, our Vice President of Compliance and Quality Assurance, and Kyle Foley, our Head of Facilities Management, both of whom have been instrumental in achieving this milestone,” said Ryan Brown, Executive Chairman of NORTHBUD and CEO of GrowPros MMP Inc. “We are very proud to be the second licensed producer in the Outaouais region of Quebec. The culmination of this project is not only important for the Company but also for the economy of the local town of Venosta, Quebec, and we look forward to strengthening our relationship with our local community as we move into the operational phase with the Quebec Facility.”

Board of Director Change
Effective March 9, 2020, Michael Saxon has resigned from the Company’s Board of Directors due to requirements related to his new employment elsewhere.

“I want to sincerely thank Michael for his direction and guidance since the inception of the Company and wish him well with his new role and future endeavors,” said Ryan Brown, Executive Chairman.

About North Bud Farms Inc.
North Bud Farms Inc. owns and operates, through its subsidiaries, licensed cannabis facilities in Canada, California and Nevada. Bonfire Brands USA, the Company’s U.S. subsidiary, acquired cannabis production facilities in Salinas, California and Reno, Nevada in late 2019. The Salinas, California 11-acre farm is actively cultivating cannabis in its 60,000 sq. ft. of licensed greenhouse production space. The Reno, Nevada facility, located on 3.2 acres of land, was acquired through the acquisition of Nevada Botanical Science, Inc., and includes a world-class cannabis production, research and development facility with 5,000 sq. ft. of indoor cultivation space which holds medical and adult-use licenses for cultivation, extraction and distribution. Through its wholly-owned Canadian subsidiary, GrowPros MMP Inc., the Company built and owns a state-of-the-art purpose-built cannabis production facility located on 135 acres of agricultural land in Low, Quebec, Canada. The Low, Quebec facility currently has 24,500 sq. ft. of licensed indoor cultivation space; the Company expects to submit its licence application to Health Canada for an additional 1,000,000 sq. ft. of outdoor cultivation space in the near future.

For more information visit: www.northbud.com

[12yearplan]

LICEN $E!

https://www.canada.ca/en/health-canada/services/drugs-medication/cannabis/industry-licensees-applicants/licensed-cultivators-processors-sellers.html#wb-auto-5

GROWPROS MMP INC. QC Cultivation Plants / Seeds None N/A 2020-03-13

[12yearplan]

TORONTO, March 13, 2020 (GLOBE NEWSWIRE) -- North Bud Farms Inc. (CSE: NBUD) (OTCQB: NOBDF) ("NORTHBUD" or the "Company") announces that its annual financial statements for the year ended November 30, 2019, including the related management discussion and analysis, and CEO and CFO certifications (collectively, the “Annual Financial Filings”) are not expected to be filed by the required filing deadline of March 30, 2020 (the “Filing Deadline”).

The Annual Financial Filings are not expected to be filed on or before the Filing Deadline due to the two recently completed acquisitions in the United States.  The Company acquired two businesses, one in Nevada and one in California, shortly before the most recently completed year-end, namely, November 30, 2019.  The two businesses are private and did not have financial statements and related disclosures prepared in a manner consistent with the requirements of a publicly-listed entity.  Accordingly, the Company has been working diligently with accounting teams to prepare the necessary statements for consolidation and audit with the Company’s Canadian audit firm.  As a result, the auditors need more time to complete the audit.

The Company is working on the steps required to complete the Annual Financial Filings as soon as possible and expects to be able to file the Annual Financial Filings by May 29, 2020.  The Company will provide updates as further information relating to the Annual Financial Filings becomes available.

The Company has applied to the applicable securities regulatory authorities for a management cease trade order (“MCTO”) to be imposed against all the directors and officers of the Company precluding them from trading securities of the Company.  If granted, the MCTO will be in effect until the Annual Financial Filings are filed, and will require that the Annual Financial Filings be filed on or before May 29, 2020.

Until the Annual Financial Filings are filed, the Company intends to issue bi-weekly default status reports in accordance with National Policy 12-203 - Management Cease Trade Orders.  The Company intends to satisfy the provisions of the Alternative Information Guidelines during the period it remains in default of the filing requirements. The Company confirms that there is no other material information relating to its affairs that has not been generally disclosed.

About North Bud Farms Inc.
NORTHBUD, through its U.S. subsidiary Bonfire Brands USA, has acquired cannabis production facilities in California and Nevada. The Salinas, California 11-acre farm is actively cultivating cannabis in its 60,000 sq. ft. of licensed greenhouse production space, and also has active distribution and processing licenses. The Reno, Nevada property contains a world-class cannabis production, research and development facility with 5,000 sq. ft. of indoor cultivation, and holds medical and adult-use licenses for cultivation, extraction and distribution. Through its wholly-owned Canadian subsidiary, GrowPros MMP Inc., the Company is pursuing a license under The Cannabis Act, to cultivate in its state-of-the-art purpose-built cannabis production facility located on 135 acres of agricultural land in Low, Quebec, Canada.

For more information visit: www.northbud.com

[12yearplan]

TORONTO, March 11, 2020 (GLOBE NEWSWIRE) -- North Bud Farms Inc. (CSE: NBUD) (OTCQB: NOBDF) ("NORTHBUD" or the "Company") is pleased to announce the launch of its NORTHBUD branded products into select retailers in Nevada, USA.  The products are manufactured through NORTHBUD’s ownership and operating agreement with Nevada Botanical Sciences, Inc. (“NBS”), who is licensed for cultivation, manufacturing and distribution.

NORTHBUD Nevada Launch Strategy Update
Prior to its asset purchase transaction with NORTHBUD, previously announced on November 19, 2019, NBS had been exclusively servicing white label customers.  Over the past 3.5 months, NBS and NORTHBUD have transitioned the Nevada operations to focus on NORTHBUD branded flower products, culminating with the recent launch of NORTHBUD Black 9 Lbs Hammer (Jinxproof phenotype) in 1 gram, 3.5 gram and 7 gram formats to select retailers in Reno, Nevada.

Over the coming weeks, the Company intends to expand distribution to multiple retailers in Northern Nevada and Las Vegas. NORTHBUD products will be available in both dried flower and pre-roll formats under the NORTHBUD White, Black and Platinum brands.

With over 45 million visitors a year from all over the world, Nevada is a key market for building an internationally recognized brand, and the Company believes that it is the ideal market for the launch of its NORTHBUD products. The Nevada market is considered one of the largest and most profitable in North America with recreational sales of USD$580 million in the first full year of legalization (2017 Nevada Dept. of Taxation).

“The NORTHBUD and Bonfire Brands USA team are extremely proud to have launched our own branded products, making the state of Nevada our strategic entry point into the U.S. legal cannabis market,” said Sean Homuth, CEO of NORTHBUD. “We believe the NORTHBUD brand will offer a unique variety of products curated for experienced consumers who demand appropriately priced, high-quality cannabis flower.”

About North Bud Farms Inc.
NORTHBUD, through its U.S. subsidiary Bonfire Brands USA, has acquired cannabis production facilities in California and Nevada. The Salinas, California 11-acre farm is actively cultivating cannabis in its 60,000 sq. ft. of licensed greenhouse production space, and also has active distribution and processing licenses. The Reno, Nevada property contains a world-class cannabis production, research and development facility with 5,000 sq. ft. of indoor cultivation, and holds medical and adult-use licenses for cultivation, extraction and distribution.  Through its wholly-owned Canadian subsidiary, GrowPros MMP Inc., the Company is pursuing a license under The Cannabis Act, to cultivate in its state-of-the-art purpose-built cannabis production facility located on 135 acres of agricultural land in Low, Quebec, Canada.

For more information visit: www.northbud.com

[12yearplan]

Part 2 https://thedalesreport.com/videos/sean-homuth-of-northbud-episode-2-why-they-are-positioned-to-withstand-challenges-to-the-cannabis-market/

[12yearplan]

TORONTO, March 04, 2020 (GLOBE NEWSWIRE) -- North Bud Farms Inc. (CSE: NBUD) (OTCQB: NOBDF) ("NORTHBUD" or the "Company") is pleased to announce that its U.S. subsidiary, Bonfire Brands USA Inc., has signed a letter of intent (the “LOI”) for a master lease and operations agreement with an experienced California-licensed operator (the “Cultivator”) to operate the cultivation facilities at the Company’s Salinas, California farm.

Terms of the LOI

As per the terms of the LOI, the companies will work together towards completing a definitive agreement before May 1, 2020, in which the Cultivator will lease the Company’s cultivation facilities at its Salinas farm for 5 years, with options to extend the lease for up to an additional 5 years, and Bonfire Brands USA will receive the following consideration:

Lease payments starting at approximately USD$1 million per year in year 1, with incremental increases that could bring the annual rent to as high as USD$1.8 million per year;
A royalty equal to 3% of the gross revenue generated by the Cultivator from its use of the Salinas farm; and
The right to acquire up to 15% of all the product harvested by the Cultivator on the farm at a discount to market rate with extended payment terms.

During the term of the proposed agreement, the Cultivator will be responsible for 100% of the costs associated with staffing, operations, licensing and compliance with respect to the farm’s cultivation facilities; moreover, the Cultivator is committed to fund and manage the build-out of an additional 230,000 sq. ft. of licensed cultivation space over the first 24 months of the proposed agreement.

“Our objective when we acquired the Salinas farm was to secure access to the high-quality, low-cost cannabis that has always been grown in that area, known as “the salad bowl of America,” said Justin Braune, President of Bonfire Brands USA. “This proposed agreement will allow the Company to immediately achieve EBITDA-positive operations at our largest facility without incurring the significant capital investments that have debilitated many companies in our industry. By retaining preferential purchasing terms, the Company can focus on its branded product distribution business on the back of the estimated 40,000 pounds of production capacity that the Cultivator will bring online over the next 24 months.”

Sean Homuth, NORTHBUD’s CEO added: “Partnering with a proven licensed cultivator who has been operating in Salinas for multiple years achieves the following objectives: it significantly de-risks our California operations while allowing the Company to increase its asset value; it reduces our capital expenditure requirements while still generating significant revenue; and it builds EBITDA-positive operations without limiting our access to a cost-efficient and reliable supply chain on which to build our branded product portfolio within the state of California.”

About North Bud Farms Inc.

NORTHBUD, through its U.S. subsidiary Bonfire Brands USA, has acquired cannabis production facilities in California and Nevada. The Salinas, California 11-acre farm is actively cultivating cannabis in its 60,000 sq. ft. of licensed greenhouse production space, and also has active distribution and processing licenses. The Reno, Nevada property contains a world-class cannabis production, research and development facility with 5,000 sq. ft. of indoor cultivation, and holds medical and adult-use licenses for cultivation, extraction and distribution. Through its wholly-owned Canadian subsidiary, GrowPros MMP Inc., the Company is pursuing a license under The Cannabis Act, to cultivate in its state-of-the-art purpose-built cannabis production facility located on 135 acres of agricultural land in Low, Quebec, Canada.

For more information visit: www.northbud.com

[12yearplan]

TORONTO, Feb. 24, 2020 (GLOBE NEWSWIRE) -- North Bud Farms Inc. (CSE: NBUD) (OTCQB: NOBDF) ("NORTHBUD" or the "Company") is pleased to announce the appointment of Jeffrey Stoss as Chief Financial Officer of the Company.

“We are pleased to welcome Jeff to our dynamic team as NORTHBUD is at an exciting time in its development,” stated Sean Homuth, CEO of North Bud Farms Inc. “Jeff brings specialty experience in accounting and finance having worked with and advised many public companies over the years in both Canada and the United States. His leadership and expertise will be essential in executing our strategic plan and taking the Company to its next level of growth.”

Mr. Stoss brings more than 17 years of finance experience to his role at NORTHBUD, with a particular specialty in high-growth environments. He is the co-founder and Chief Operating Officer of the outsourced finance services firm, Positive Venture Group Inc. He has previously served as CFO for publicly-traded companies and technology start-ups. Mr. Stoss has professional accountant designations in both Canada and the United States.

RSU Grants

On February 20, 2020, the Company’s board of directors approved the grant of 361,000 restricted share units (“RSUs”) to certain directors and consultants of the Company. The RSUs vest in four equal tranches starting three months from the date of grant. Each vested RSU entitles the holder thereof to receive one common share of the Company upon delivery of an exercise notice, in accordance with the Omnibus Plan.

About North Bud Farms Inc.

NORTHBUD, through its U.S. subsidiary Bonfire Brands USA, has acquired cannabis production facilities in California and Nevada. The Salinas, California 11-acre farm is actively cultivating cannabis in its 60,000 sq. ft. of licensed greenhouse production space. The Reno, Nevada property is located on 3.2 acres of land which was acquired through the acquisition of Nevada Botanical Science, Inc., a world class cannabis production, research and development facility with 5,000 sq. ft. of indoor cultivation which holds medical and adult use licenses for cultivation, extraction and distribution. Through its wholly-owned Canadian subsidiary, GrowPros MMP Inc., the Company is pursuing a license under The Cannabis Act, to cultivate in its state-of-the-art purpose-built cannabis production facility located on 135 acres of agricultural land in Low, Quebec, Canada.

For more information visit: www.northbud.com

[12yearplan]

Filed 2020-02-19 17:41
Tx date 2020-02-14 $NBUD
North Bud Farms Inc. Audet, André
4 - Director of Issuer, 5 - Senior Officer of Issuer
Direct Ownership

Warrants
16 - Acquisition or disposition under a prospectus exemption
+333,360 vol 433,360
Filed 2020-02-19 17:40
Tx date 2020-02-14 $NBUD
North Bud Farms Inc. Audet, André
4 - Director of Issuer, 5 - Senior Officer of Issuer
Direct Ownership

10% Secured Convertible Debentures
16 - Acquisition or disposition under a prospectus exemption
+60,000 vol 60,000
Filed 2020-02-19 17:39
Tx date 2018-08-23 $NBUD
North Bud Farms Inc. Audet, André
4 - Director of Issuer, 5 - Senior Officer of Issuer
Direct Ownership

10% Secured Convertible Debentures
00 - Opening Balance-Initial SEDI Report
Filed 2020-02-19 17:36
Tx date 2018-08-23 $NBUD
North Bud Farms Inc. Audet, André
4 - Director of Issuer, 5 - Senior Officer of Issuer
Direct Ownership

Convertible Debentures 10% Secured Convertible Debentures
00 - Opening Balance-Initial SEDI Report
Filed 2020-02-19 17:34
Tx date 2020-02-14 $NBUD
North Bud Farms Inc. Brown, Ryan
4 - Director of Issuer, 5 - Senior Officer of Issuer
Holder: 9329-7158 Quebec Inc. (Indirect Ownership)

Warrants
16 - Acquisition or disposition under a prospectus exemption
+1,866,900 vol 3,883,644
Filed 2020-02-19 17:32
Tx date 2020-02-14 $NBUD
North Bud Farms Inc. Brown, Ryan
4 - Director of Issuer, 5 - Senior Officer of Issuer
Direct Ownership

Warrants
16 - Acquisition or disposition under a prospectus exemption
+494,284 vol 2,027,940
Filed 2020-02-19 17:31
Tx date 2020-02-14 $NBUD
North Bud Farms Inc. Brown, Ryan
4 - Director of Issuer, 5 - Senior Officer of Issuer
Holder: 9329-7158 Quebec Inc. (Indirect Ownership)

Warrants
16 - Acquisition or disposition under a prospectus exemption
+966,744 vol 2,016,744
Filed 2020-02-19 17:30
Tx date 2020-02-14 $NBUD
North Bud Farms Inc. Brown, Ryan
4 - Director of Issuer, 5 - Senior Officer of Issuer
Direct Ownership

Warrants
16 - Acquisition or disposition under a prospectus exemption
+1,255,656 vol 1,533,656
Filed 2020-02-19 17:27
Tx date 2020-02-14 $NBUD
North Bud Farms Inc. Brown, Ryan
4 - Director of Issuer, 5 - Senior Officer of Issuer
Holder: 9329-7158 Quebec Inc. (Indirect Ownership)

10% Secured Convertible Debentures
16 - Acquisition or disposition under a prospectus exemption
+174,000 vol 699,000
Filed 2020-02-19 17:24
Tx date 2020-02-14 $NBUD
North Bud Farms Inc. Brown, Ryan
4 - Director of Issuer, 5 - Senior Officer of Issuer
Direct Ownership

10% Secured Convertible Debentures
16 - Acquisition or disposition under a prospectus exemption
+226,000 vol 365,000
Older filings

[12yearplan]

TORONTO, Feb. 19, 2020 (GLOBE NEWSWIRE) -- North Bud Farms Inc. (CSE: NBUD) (OTCQB: NOBDF) ("NORTHBUD" or the "Company") is pleased to provide shareholders with an update on our U.S. operations, Bonfire Brands USA (“Bonfire”).

Salinas, California

To date, the Company has harvested approximately 400 lbs of various grades and strains of cannabis. As anticipated, the winter season yields were moderate with large flowers testing at approximately 19% THC. The Company has sold approximately 50% of the harvest in wholesale quantities. The Company expects its next harvest in 60 days and is looking for an incremental increase in quality and yield. The Company will provide revenue updates at the end of the quarter.

Licensing

The Company is pleased to announce it has received a California state processing licence in addition to the existing five cultivation, extraction and distribution licenses it acquired from the Qlora Group in 2019. This new licence will allow the Company to process, package and distribute cannabis and cannabis products acquired from other licensed producers in the state on a pay per use basis.

“Maximizing revenue streams in California where established and highly regulated retail and distribution models exist has required new entrants to operate within all verticals,” said Justin Braune, President, Bonfire Brands USA. “This strategy requires significant capital expenditures and has historically proven very difficult to execute. By leveraging our strategic infrastructure into agreements with established operators, Bonfire expects to increase revenue streams and achieve profitability quicker with lower capital expenditure risks.”

“I am very pleased by the significant progress made by our California team in their short time since we completed the acquisition of the Qlora Group,” said Sean Homuth, CEO of NORTHBUD. “In an industry that has seen companies struggle to manage high infrastructure costs while navigating ever evolving distribution landscapes, the anticipated revenue from this model will be very crucial for the Company as we move towards achieving EBITDA positive operations.”

Reno, Nevada

To date, the Company has harvested 40 lbs of high-grade cannabis testing at approximately 20% THC. This product is being sold under the NORTHBUD brand to select retailers in Reno and Las Vegas and represents the first revenue in Nevada for Bonfire Brands. The Company will update the market further at the end of the quarter.

The Company has begun construction of two additional cultivation and processing rooms which will increase annual revenue capacity by 40%. With recent cost cutting measures implemented post acquisition, the Company believes it is on track to bring the Nevada operation to cash flow positive in the first quarter of 2020.

The Company has entered into a third-party service agreement with LTH Logistics (“LTH”), a licensed third-party distribution and delivery company. As per the terms of the agreement, LTH will provide these third-party services under the distribution licence of Nevada Botanical Sciences with revenue generated being split 60/40 in favor of Bonfire Brands USA.

“Similar to California, many Nevada licensees have been operating across all verticals,” said Justin Braune, President, Bonfire Brands USA. “Bonfire has chosen to reduce execution risk and minimize capital expenditures by working with established operators who seek to benefit from our strategic infrastructure, which will allow the company will expedite its progression towards EBITDA positive operations.”

Corporate Name Change

As approved at our recent annual shareholder meeting, the Company will officially change its name to Bonfire Holdings Inc. The Company has reserved and will begin trading under the ticker symbol BURN in the near future. The Company believes this better represents the vision and structure of the Company moving forward. The Company owns brands such as NORTHBUD, California Bud Co., Live For The Day (LFTD) and Trichomic and manufactures and distributes Happiest Hour beverages in the state of Nevada.

About North Bud Farms Inc.

North Bud Farms Inc., through its U.S. subsidiary Bonfire Brands USA, has acquired cannabis production facilities in California and in Nevada. The Salinas, California 11-acre farm is actively cultivating cannabis in its 60,000 sq. ft. of licensed greenhouse production space. The Reno, Nevada property is located on 3.2 acres of land which was acquired through the acquisition of Nevada Botanical Science, Inc. a world class cannabis production, research and development facility with 5,000 sq. ft. of indoor cultivation which holds medical and adult use licenses for cultivation, extraction and distribution. Through its wholly owned Canadian subsidiary, GrowPros MMP Inc., the Company is pursuing a licence under The Cannabis Act, to cultivate in its state-of-the-art purpose-built cannabis production facility located on 135 acres of Agricultural Land in Low, Quebec, Canada.

For more information visit: www.northbud.com

[12yearplan]

Filed 2020-02-10 15:41 Tx date 2020-02-03 $NBUD
North Bud Farms Inc. Audet, Andr
4 - Director of Issuer, 5 - Senior Officer of Issuer
Direct Ownership
Common Shares
11 - Acquisition or disposition carried out privately $-61,260.715
-331,139 vol
$0.185 each 1,746,857
Filed 2020-02-07 21:28 Tx date 2020-02-03 $NBUD
North Bud Farms Inc. Brown, Ryan
4 - Director of Issuer, 5 - Senior Officer of Issuer
Holder: 9329-7158 Quebec Inc. (Indirect Ownership)
Common Shares
11 - Acquisition or disposition carried out privately $-174,338.635
-942,371 vol
$0.185 each 190,350  
Filed 2020-02-07 21:25 Tx date 2020-02-03 $NBUD
North Bud Farms Inc. Brown, Ryan
4 - Director of Issuer, 5 - Senior Officer of Issuer
Direct Ownership
Common Shares
11 - Acquisition or disposition carried out privately $-226,900.65
-1,226,490 vol
$0.185 each

[12yearplan]

TORONTO, Feb. 14, 2020 (GLOBE NEWSWIRE) -- North Bud Farms Inc. (CSE: NBUD) (OTCQB: NOBDF) ("NORTHBUD" or the "Company") is pleased to announce the closing of the second tranche (the “Second Tranche”) of its non-brokered private placement of convertible debenture units (the "Units") of the Company for gross proceeds of C$613,000. Each Unit is comprised of one C$1,000 principal amount of secured convertible debenture (a “Convertible Debenture”) accruing interest at 10.0% per annum, payable semi-annually in arrears until maturity, and 5,556 common share purchase warrants (each a “Warrant”) of the Company. The terms of the Units were previously announced by the Company in its press release dated January 27, 2020.

Ryan Brown, Executive Chairman of the Company, participated in the Second Tranche and beneficially acquired 400 Units for total proceeds of $400,000. André Audet, a Director of the Company, also participated in the Second Tranche and beneficially acquired 60 Units for total proceeds of $60,000. The participation of each of Ryan Brown and André Audet in the Second Tranche constitutes a “related party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The issuance of Units to Ryan Brown and André Audet is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101, as the fair market value of the Units issued to and the consideration paid by Ryan Brown and André Audet did not exceed 25% of the Company’s market capitalization.

Certain finders (the "Finders") received a cash commission of $39,040 on the sale of the Second Tranche. The Finders also received 216,889 compensation warrants (the “Compensation Warrants”), each carrying the right to purchase 1 common share in the capital of the Company at a price of $0.18 per Compensation Warrant for a period of 24 months from the closing date.

The proceeds of the Second Tranche will be used by the Company for expansion of the Company's facilities and for general corporate and working capital purposes.

The Convertible Debentures, Warrants and Compensation Warrants issued pursuant to the Second Tranche of the Offering and any common shares in the capital of the Company (“Common Shares”) issued on conversion of such Convertible Debentures or exercise of such Warrants and Compensation Warrants will be subject to a statutory hold period in Canada of four months and one day following the closing date, in accordance with applicable securities laws. Common Shares issued in lieu of interest payments in accordance with the terms of the Convertible Debentures (the “Prepaid Interest Shares”) will be subject to a statutory hold period in Canada of four months and one day from the date on which such Prepaid Interest Shares are issued, in accordance with applicable securities laws. Additional resale restrictions may be applicable under the laws of other jurisdictions, if any.

The securities of the Company have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws. Accordingly, the securities of the Company may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities of the Company in any jurisdiction in which such offer, solicitation or sale would be unlawful.

The Company expects to complete the balance of its offering of Units for gross proceeds of up to $4 million in one or more additional tranches to be closed in the near future, subject to the Company’s receipt of all necessary regulatory approvals.

About North Bud Farms Inc.

North Bud Farms Inc., through its U.S. subsidiary Bonfire Brands USA, has acquired cannabis production facilities in California and in Nevada. The Salinas, California 11-acre farm is actively cultivating cannabis in its 60,000 sq. ft. of licensed greenhouse production space. The Reno, Nevada property is located on 3.2 acres of land which was acquired through the acquisition of Nevada Botanical Science, Inc. a world class cannabis production, research and development facility with 5,000 sq. ft. of indoor cultivation which holds medical and adult use licenses for cultivation, extraction and distribution. Through its wholly owned Canadian subsidiary, GrowPros MMP Inc., the company is pursuing a licence under The Cannabis Act, to cultivate in its state-of-the-art purpose-built cannabis production facility located on 135 acres of Agricultural Land in Low, Quebec, Canada.

For more information visit: www.northbud.com