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CannaRoyalty Announces Additions to its Board of Directors
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/12/27/CRZ-CNNRF-CannaRoyalty-Announces-Additions-to-its-Board-of-Directors
OTTAWA, Dec. 27, 2017 /CNW/ - CannaRoyalty Corp. (CSE:CRZ) (OTC:CNNRF) ("CannaRoyalty" or the "Company"), today announced that it has added two strong independent directors to CannaRoyalty's board of directors, to replace Mr. Peter Gundy and Mr. Greg Wilson. These additions bring further knowledge and experience to CannaRoyalty's board ahead of a period of significant growth for the Company.
Oskar Lewnowski brings tremendous expertise to the CannaRoyalty Board with over 20 years of experience as a leading global resource financier, company-builder, and founder and Chief Investment Officer of Orion Resource Partners. Mr. Lewnowski will replace Greg Wilson on the board. Peter Kampian brings significant cannabis experience along with over 30 years of senior financial and corporate governance expertise to CannaRoyalty. Mr. Kampian was the CFO of Mettrum Health Corp when it was acquired by Canopy Growth Corporation. He is an experienced audit chair and will replace Peter Gundy as chair of the board's audit committee.
"On behalf of the board, I would like to welcome Oskar and Peter to CannaRoyalty and express our gratitude and excitement to have them join our team," said Marc Lustig, CEO of CannaRoyalty. "The addition of these two individuals enhances our board's knowledge of global markets and opportunities and upholds our commitment to strong corporate governance by expanding our slate of highly qualified independent directors. We would like to sincerely thank Greg Wilson and Peter Gundy for their exemplary service to our board and shareholders. Greg has been a part of building this business since day one and he will continue to play a critical role on the management team. As a board, we unanimously agreed that now is the time to bring in additional, independent expertise to enable us to capitalize on the significant growth opportunities in front of us."
"With the California market moving to full adult-use recreational on January 1, 2018 and Canada on July 1st, we have significant growth opportunities in front of us," said Greg Wilson. "I am confident that the changes we have announced today will benefit the Company and shareholders as we position CannaRoyalty for its next phase of growth. It has been an honor to contribute to building the company since its inception, and I look forward to continuing to assist in driving the business forward."
Mr. Oskar Lewnowski
Oskar Lewnowski is the founder and Chief Investment Officer of Orion Resource Partners. Prior to Orion, Mr. Lewnowski was a founding partner of the Red Kite Group and Chief Investment Officer of the mine finance business. Before this, Mr. Lewnowski was Director for Corporate Development at Varomet Ltd, a metals processor and merchant firm in excess of $1 billion in revenues formed to purchase certain of Enron's metals and mining assets. While at Varomet, he was responsible for seven acquisitions and divestitures totaling over $130 million and business operations (offtake agreements, mining and processing) with annual revenues exceeding $1 billion. He was also responsible for structuring metal offtake agreements and other physical market transactions. Until 1993, he held various positions in trading as well as mergers and acquisitions at Deutsche Bank both in New York and Frankfurt culminating in his founding membership of the Deutsche Capital Markets Division. Lewnowski earned a BS/BA in Business Administration from Georgetown University and an MBA from the Leonard Stern School of Business (New York University).
Mr. Peter Kampian
Peter Kampian was the Chief Financial Officer of Mettrum Health Corp from 2014 to its acquisition by Canopy Growth Corporation in 2017. He is an energetic financial executive with over 30 years' experience in investment, infrastructure, electrical generation, and manufacturing, with both private and publicly-trading corporate entities. Mr. Kampian is an experienced board audit chair and has held many directorships and offices such as Chief Financial Officer at Algonquin Power Systems to 2007. He is currently the Chief Financial Officer of DionyMed Inc., a U.S. cannabis marketing and distribution company. Mr. Kampian was admitted as a Chartered Accountant in 1986 and is a BBA (Business) graduate of Wilfred Laurier University.
About CannaRoyalty
CannaRoyalty is an active investor and operator in the legal cannabis industry. Our focus is building and supporting a diversified portfolio of growth-ready assets in high-value segments of the cannabis sector, including research, consumer brands, devices and intellectual property. Our management team combines a hands-on understanding of the cannabis industry with seasoned financial know-how, assembling a platform of holdings via royalty agreements, equity interests, secured convertible debt, licensing agreements and its own branded portfolio.
Forward Looking Statements
Statements in this news release that are forward-looking statements are subject to various risks and uncertaintiesconcerning the specific factors disclosed here and elsewhere in CannaRoyalty's periodic filings with Canadian securities regulators. When used in this news release, words such as "will, could, plan, estimate, expect, intend, may, potential, believe, should," and similar expressions, are forward- looking statements.
Forward-looking statements may include, without limitation, statements including the Company's expectations with respect to pursuing new opportunities and its future growth and other statements of fact.
Although CannaRoyalty has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to: dependence on obtaining regulatory approvals; investing in target companies or projects which have limited or no operating history and are engaged in activities currently considered illegal under US Federal Laws; changes in laws; limited operating history; reliance on management; requirements for additional financing; competition; hindering market growth and state adoption due to inconsistent public opinion and perception of the medical-use and adult-use marijuana industry and; regulatory or political change.
There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. As a result of these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events.
Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this release. CannaRoyalty disclaims any intention or obligation to update or revise such information, except as required by applicable law, and CannaRoyalty does not assume any liability for disclosure relating to any other company mentioned herein.
Cronos' Peace Naturals Products Now Available in German Pharmacies
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/12/27/MJN-PRMCF-Cronos-Peace-Naturals-Products-Now-Available-in-German-Pharmacies
TORONTO, Dec. 27, 2017 /CNW/ - Cronos Group Inc. (TSXV:MJN) (OTC:PRMCF) ("Cronos" or the "Company") is pleased to announce that its first shipment to G. Pohl-Boskamp GmbH & Co. KG ("Pohl-Boskamp") of Peace Naturals ("Peace") branded products is now available for sale across retail locations throughout Germany. Peace is a wholly-owned licensed producer operated by Cronos, and Pohl-Boskamp is an international pharmaceutical manufacturer with distribution into over 12,000 pharmacies in Germany.
With over 82 million people, Germany is the largest federally legal cannabis market in the world, and Pohl-Boskamp's distribution network provides Cronos access to patients with insurance coverage for medicinal cannabis.
"This marks a key milestone for Cronos by solidifying the largest international distribution platform in the industry and providing an unprecedented supply of high-quality medical cannabis products to German patients," said Mike Gorenstein, CEO of Cronos.
About Pohl-Boskamp
Pohl-Boskamp is a privately-owned business that has been active in the international pharmaceutical market for 182 years with commercialized products in more than 45 countries. Through close collaboration with its partners abroad, Pohl-Boskamp focuses on developing and marketing products that positively impact patients' quality of life. It operates in numerous healthcare sectors including pneumology, urology, parasitology, cardiovascular diseases, gastroenterology, sleep disorders, and dermatology. For more information visit https://www.pohl-boskamp.de/de/start/.
About Cronos Group
Cronos Group is a geographically diversified and vertically integrated cannabis company that operates two wholly-owned Licensed Producers ("LPs") regulated within Health Canada's Access to Cannabis for Medical Purposes Regulations (the "ACMPR") and holds a portfolio of minority investments in other Licensed Producers. The Company's flagship LPs, Peace Naturals Project Inc. (Ontario) and Original BC Ltd. (British Columbia), are collectively situated on over 125 acres of agricultural, licensed land. Cronos Group is focused on building an international iconic brand portfolio, providing patients with personalized care, and creating value for our shareholders.
Forward-looking statements
This news release may contain "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian securities legislation. All information contained herein that is not clearly historical in nature may constitute forward-looking information. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive risks, uncertainties and contingencies that may cause actual financial results, performance or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. Except as required by law, Cronos Group disclaims any obligation to update or revise any forward-looking statements. Readers are cautioned not to put undue reliance on these forward-looking statements. This news release contains information obtained by Cronos Group from third parties. Cronos Group believes such information to be accurate but has not independently verified such information.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Namaste Announces Wholesale Supply LOI With Israel-Based BRLEV
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/12/27/N-NXTTF-Namaste-Announces-Wholesale-Supply-LOI-With-Israel-Based-BRLEV
VANCOUVER, British Columbia, Dec. 27, 2017 (GLOBE NEWSWIRE) -- Namaste Technologies Inc. (“Namaste” or the “Company”) (CSE:N)(FRANKFURT:M5BQ)(OTC:NXTTF) is pleased to announce that it has signed a Letter of Intent (“LOI”) with BRLEV AGRICULTURAL CROPS LTD. (“BRLEV”), through its wholly owned subsidiary, Cannmart Inc. (“CannMart”), whereby BRLEV will supply CannMart with high quality medical cannabis, to be imported by CannMart from Israel and offered in the Company’s online marketplace. BRLEV is Israel’s largest licensed producer of medical cannabis, with over 40 years of experience in commercial agricultural production and export. BRLEV will work with Namaste to export medical cannabis to the Canadian market, which will fall under Canada’s Access to Cannabis for Medical Purposes Regulations (“ACMPR”) guidelines. The LOI and the proposed medical cannabis supply agreement (“Supply Agreement”) highlight Namaste’s intentions of becoming Canada’s leading online retailer for medical cannabis products, by focusing on importation of high quality medical cannabis from industry-leading countries like Israel. Namaste believes that the demand for imported cannabis and the opportunity it presents has been largely overlooked. This deal solidifies Namaste's commitment in seeking the best cannabis products in global markets and offering them to Canadian cannabis users.
Terms of the LOI:
Namaste will submit purchase orders to BRLEV for medical cannabis.
Namaste will provide 50% payment against each purchase order once the goods arrive at the airport and have been tested by a third-party laboratory facility. The balance of payment will be due within 30 days from the shipment date.
Product cost to Namaste will be determined as 30% of Namaste’s retail price.
Namaste will be responsible for shipping and import costs.
Namaste’s product branding and naming conventions for each strain will adhere to Israeli government requirements where applicable.
Namaste will mark each customer package with BRLEV’s name and logo.
The LOI and proposed Supply Agreement reinforce Namaste’s effort to provide imported medical cannabis products to its patients by offering the largest variety of products from domestic and international producers. BRLEV boasts one of the largest production facilities in Israel and is a strong partner for Namaste. Namaste believes that BRLEV’s existing license and infrastructure will be suited to accommodate the Company’s expected demand for high quality Israeli grown medical cannabis. Namaste is highly focused on cannabis importation for its CannMart facility and specifically on sourcing from the Israeli market. This partnership will allow Namaste to offer greater value for its patients by allowing CannMart to provide a larger offering in comparison with domestic ACMPR licensed producers. The Company expects to see strong demand for imported cannabis products and looks forward to a growing relationship with BRLEV and its management team.
Management Commentary
Asaf Bardichev, President and CEO of BRLEV comments: "BRLEV is very excited to announce the signing of this LOI. We see Namaste as a central and leading figure in the growing Canadian retail market and see this as a great opportunity for collaboration. We believe that the partnership with Namaste that we are beginning now can be a long and lasting one. It will be one that strengthens Namaste, BRLEV, and the Canadian medical cannabis market."
Sean Dollinger, President and CEO of Namaste comments: “While the Canadian market continues to be a leader with regards to the production of high quality cannabis, Namaste remains of the opinion that Canadian consumers will demand other high-quality products from markets abroad. Through our partnership with BRLEV, Namaste fully intends to meet that demand. This transaction represents the first of many partnerships by which Namaste intends to create the largest and most diverse marketplace for Canadian cannabis consumers. We are very pleased to have signed this LOI and are looking forward to working with the BRLEV Group. Namaste believes this represents a strong partnership based on BRLEV’s credentials and experience in cultivation and agricultural export. The BRLEV management team has exceptional talents for cultivation and production of the highest quality medical cannabis in the Israeli market. We look forward to working with BRLEV and their team in creating the most diverse offering of medical cannabis in the Canadian online retail marketplace.”
About BRLEV
The BRLEV Group manages cannabis based medicine production from mother plants to final product. The group is fully licensed in all aspects of cannabis cultivation and processing as well as in the manufacturing of cannabis based medication in Israel. With an impressive lineup of high-end facilities and over 40 years of experience in agriculture the BRLEV group meets the highest industry standards including GMP, Global Gap and Tesco. Working closely with the leading Israeli research bodies in plant genetics, virus and pest control, cannabis processing and active substance extraction, BRLEV uses state of the art methods and knowledge in cannabis cultivation and processing. The BRLEV group has also secured a cannabis trading license which enables the group to start exporting its products overseas as soon as export regulations are in place.
About Namaste Technologies Inc.
Namaste is the largest online retailer for medical cannabis delivery systems globally. Namaste distributes vaporizers and smoking accessories through e-commerce sites in 26 countries and with 5 distribution hubs located around the world. Namaste has majority market share in Europe and Australia, with operations in the UK, US, Canada and Germany and has opened new supply channels into emerging markets including Brazil, Mexico and Chile. Namaste, through its acquisition of Cannmart Inc., a Canadian based late-stage applicant for a medical cannabis distribution license (under the ACMPR Program) is pursuing a new revenue vertical in online retail of medical cannabis in the Canadian market. Namaste intends to leverage its existing database of Canadian medical cannabis consumers, along with its expertise in e-commerce to create an online marketplace for medical cannabis patients, offering a larger variety of product and a better user experience.
On behalf of the Board of Directors
“Sean Dollinger”
Chief Executive Officer
Direct: +1 (786) 389 9771
Email: info@namastetechnologies.com
Further information on the Company and its products can be accessed through the links below:
www.namastetechnologies.com
www.namastevaporizers.co.uk
www.everyonedoesit.co.uk
FORWARD LOOKING INFORMATION This press release contains forward-looking information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, Namaste assumes no responsibility to update or revise forward looking information to reflect new events or circumstances unless required by law. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on www.sedar.com. This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The CSE has neither reviewed nor approved the contents of this press release.
Securities Regulators Rule In Favor of Aurora
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/12/27/Securities-Regulators-Rule-In-Favor-of-Aurora-ACB-ACBFF-CMED-CMMDF
EDMONTON, Dec. 27, 2017 /CNW/ - Aurora Cannabis Inc. ("Aurora") (TSX:ACB) (OTC:ACBFF) (Frankfurt: 21P; WKN: A1C4WM) is pleased to provide the following report following hearings before the Financial and Consumer Affairs Authority of Saskatchewan and the Ontario Securities Commission (the "Securities Regulators") held on December 20-21 in connection with Aurora's offer to acquire all of the shares of CanniMed Therapeutics Inc. ("CanniMed") (TSX:CMED) (the "Offer").
As previously disclosed, Aurora applied to the Securities Regulators for an order to: (i) cease trade the shareholder rights plan that CanniMed's management adopted on November 28, 2017("Rights Plan" or "Poison Pill"); and (ii) shorten the minimum deposit period under the Offer from 105 days, to 35 days, from the date of the Offer (the "Deposit Period Order").
CanniMed and the Special Committee of the Board of CanniMed, in turn, sought orders to (i) prevent Aurora from acquiring up to 5% of the outstanding shares of CanniMed on the open market (in accordance to the exemption in section 2.2(3) of National Instrument 62-104 Take-Over Bids and Issuer Bids) (the "5% Restriction Order"); (ii) deem Aurora to be acting jointly or in concert with the locked-up shareholders (the "Locked-Up Shareholders") of CanniMed, and (iii) deem the Offer an "insider bid".
The Securities Regulators denied the Aurora application to reduce the minimum deposit period and as a result the minimum deposit period will remain open for the minimum 105 day period. In respect of all other applications made by Aurora and those made by CanniMed the Securities Regulators ruled entirely in favour of Aurora; including making an order to cease trade the CanniMed Poison Pill. The Securities Regulators also rejected the argument that Aurora's bid was an "insider bid" within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions and as such Aurora does not require a formal valuation. Further, the Securities Regulators rejected CanniMed's application to restrict Aurora's ability to make normal course purchases of CanniMed shares on the open market. Furthermore, CanniMed's application to determine that Aurora and the Locked-Up Shareholders had acted jointly or in concert, and to deem the Offer an insider bid, were also both rejected.
"Aurora has secured key legal victories that take us a big step forward towards acquiring CanniMed, and integrating its team and operations into our organization to further build the preeminent global cannabis company," said Terry Booth, CEO. Mr. Booth added, "The next step is for CanniMed shareholders to vote against the proposed acquisition by CanniMed of Newstrike Resources. The proposed Cannimed-Newstrike transaction is a bad deal that will destroy considerable value for CanniMed's shareholders. It would give away 35% of CanniMed to shareholders of a company with no cash, zero revenues, uncompleted and unfunded facilities that CanniMed would have to use its own cash reserves to build out."
Mr. Booth added, "The great news today is that CanniMed shareholders are now freed from CanniMed management's efforts to take away their fundamental right to support the superior opportunity. CanniMed shareholders can now freely choose. On one hand, there is the highly dilutive, cash-draining Newstrike bid. On the other hand, shareholders can tender their shares to Aurora's Offer for an immediate significant 57% premium, plus the opportunity to become part of Aurora's faster growth, better execution, shareholder value generation, and exciting drive to global leadership in the cannabis sector."
In its decision, a panel representing the Securities Regulators ordered that all trading shall cease in respect of any securities issued, or that are proposed to be issued, in connection with the Rights Plan. With the cease trading of the Rights Plan the practical restriction on Aurora from acquiring further securities of CanniMed or procuring further lock-up agreements from CanniMed shareholders is removed and Aurora is now permitted to enter into further lock up agreements with CanniMed shareholders, and also purchase CanniMed shares through open market purchases up to 5% of the issued CanniMed shares.
The Securities Regulators also determined that certain shareholders of CanniMed who currently own or control approximately 36% of CanniMed shares, and who had entered into lock-up agreements with Aurora (the "Locked-Up Shareholders") did not act jointly or in concert with Aurora in making the Offer. Aurora had initially signed lock up agreements with shareholders representing 38% of outstanding CanniMed shares. After the exercise of stock options, including 1,380,000 stock options exercised by CanniMed CEO Brent Zettl between November 24 and 29, 2017, at an average price of $1.23 – a 94% discount to market - the Locked-Up Shareholder now collectively represent 36% of shares outstanding. As a result of the Securities Regulators' determination, the Locked-Up Shareholders will be included in the 50% minimum tender condition pursuant to section 2.29.1 of National Instrument 62-104 Take-Over Bids and Issuer Bids.
The Securities Regulators also ordered Aurora to provide additional disclosure regarding:
The circumstances under which and means by which it became aware of a Board Meeting of CanniMed that was scheduled for November 13, 2017;
Any other information that was obtained directly or indirectly by Aurora from any person who was at the relevant time in a special relationship (as defined in applicable securities legislation) with CanniMed, and that was material to Aurora in structuring, determining the timing of, delivering or implementing the Offer; and
Any other information within Aurora's knowledge that would reasonably be expected to affect the decision of security holders of CanniMed to accept or reject the Offer.
Aurora must (and will), on or before January 12, 2017, provide the additional disclosure in news releases amending Aurora's November 14, 2017 and November 24, 2017 news releases, and in a Notice of Change to the Offer to be mailed to all shareholders of CanniMed.
CanniMed shareholders can continue to receive updates and insights on the Aurora offer via the micro-site dedicated to the Aurora-CanniMed transaction www.cannimed.auroramj.com.
How to Tender
Aurora encourages CanniMed shareholders to read the full details of the Offer set forth in the takeover bid circular and accompanying offer documents, (collectively, the "Offer Documents"), which contain detailed instructions on how CanniMed shareholders can easily tender their CanniMed common shares to the Offer. For assistance in depositing CanniMed common shares to the Offer, CanniMed shareholders should contact the depositary and the Information Agent for the Offer, Laurel Hill Advisory Group at Phone: 1-877-452-7184 (North American Toll-Free Phone) and 1-416-304-0211 (Outside North America); Facsimile: 416-646-2415; and E-mail: assistance@laurelhill.com.
About the Offer
On November 24, 2017, Aurora formally commenced its Offer to purchase all of the issued and outstanding common shares of CanniMed for consideration consisting of common shares of Aurora. The Offer Document, including the takeover bid circular and related documents are available on www.sedar.com and on cannimed.auroramj.com, and the Company invites both Aurora and CanniMed shareholders to visit these sites frequently for updates.
AMF Order
On November 23, 2017, the Autorité des marches financiers ("AMF"), the securities regulatory authority in the Province of Québec, issued an order (the "AMF Order") that provides that the documents incorporated by reference in the take-over bid circular of Aurora dated November 24, 2017 ("Aurora Circular") must be translated and filed on the System for Electronic Document Analysis and Retrieval (SEDAR) and that the expiry date of the Offer to shareholders of CanniMed residing in the Province of Québec shall not occur earlier than 105 days from the date all such translated documents are filed on SEDAR. As of December 20, 2017, all translated documents incorporated by reference in the Aurora Circular have been filed on SEDAR. As of November 23, 2017, Aurora believes that there were 293 CanniMed shareholders in the Province of Québec holding 148,379 common shares, representing 0.71% of the issued and outstanding common shares.
About Aurora
Aurora's wholly-owned subsidiary, Aurora Cannabis Enterprises Inc., is a licensed producer of medical cannabis pursuant to Health Canada's Access to Cannabis for Medical Purposes Regulations ("ACMPR"). The Company operates a 55,200 square foot, state-of-the-art production facility in Mountain View County, Alberta, known as "Aurora Mountain", a second 40,000 square foot high-technology production facility known as "Aurora Vie" in Pointe-Claire, Quebec on Montreal's West Island, and is currently constructing an 800,000 square foot production facility, known as "Aurora Sky", at the Edmonton International Airport, as well as is completing a fourth facility in Lachute, Quebec through its wholly owned subsidiary Aurora Larssen Projects Ltd.
In addition, the Company holds approximately 17.23% of the issued shares in leading extraction technology company Radient Technologies Inc., based in Edmonton, and is in the process of completing an investment in Edmonton-based Hempco Food and Fiber for an ownership stake of up to 50.1%. Furthermore, Aurora is the cornerstone investor with a 22.9% stake in Cann Group Limited, the first Australian company licensed to conduct research on and cultivate medical cannabis. Aurora also owns Pedanios, a leading wholesale importer, exporter, and distributor of medical cannabis in the European Union, based in Germany. The Company offers further differentiation through its acquisition of BC Northern Lights Ltd. and Urban Cultivator Inc., industry leaders, respectively, in the production and sale of proprietary systems for the safe, efficient and high-yield indoor cultivation of cannabis, and in state-of-the-art indoor gardening appliances for the cultivation of organic microgreens, vegetables and herbs in home and professional kitchens. Aurora's common shares trade on the TSX under the symbol "ACB".
On behalf of the Boards of Directors,
AURORA CANNABIS INC.
Terry Booth
CEO
SHAREHOLDER QUESTIONS
Shareholder questions may be directed to Aurora's Proxy Solicitation and Information Agent at:
Laurel Hill Advisory Group
North America Toll Free: 1-877-452-7184
Collect Calls Outside North America: 1-416-304-0211
Email: assistance@laurelhill.com
This news release includes statements containing certain "forward-looking information" within the meaning of applicable securities law ("forward-looking statements"). Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
Forward looking statements in release include statements regarding the proposed terms of the business combination of Aurora with CanniMed (the "Combination"), the timing or potential for discussions regarding the Combination, the expected benefits of the Combination, and the anticipated market capitalization of the combined entity. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release, including assumptions based upon CanniMed's publicly disclosed information, and that there will be no change in the business, prospects or capitalization of CanniMed or Aurora. In particular, this news release contains forward-looking information concerning: (i) the Offer, various terms of the Offer and the anticipated timing of completion of the Offer; (ii) expectations with respect to synergies and efficiencies that may be achieved upon a combination of the businesses of Aurora and CanniMed and other benefits of a combination of the businesses of Aurora and CanniMed; and (iii) expectations with respect to business and geographical diversification of the combined entity. The information concerning CanniMed contained in this News Release has been taken from, or is based upon, publicly available information filed by CanniMed with securities regulatory authorities in Canada prior to the date of this News Release and other public sources.
Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this release.
ETF Managers Group Announces MJX Live for Trading on the NYSE
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/12/26/ETF-Managers-Group-Announces-MJX-Live-for-Trading-on-the-NYSE
SUMMIT, N.J.--(BUSINESS WIRE)--ETF Managers Group LLC (“ETFMG”) announced today that MJX, the ETFMG Alternative Harvest ETF is live and available for trading on the NYSE Arca. This fund is one of the first of its kind available to U.S. investors allowing them access to a unique sector in this rapidly evolving market. MJX is designed to replicate the Prime Alternative Harvest Index, which tracks companies likely to benefit from the increasing global acceptance of various uses of the cannabis plant. This includes treatments from innovative medicinal breakthroughs involving the plant’s unique properties – the result of years of significant research by the global biotech and pharmaceutical community.
Sam Masucci, Founder & CEO of ETF Managers Group said: “As an ETF issuer we are excited about opportunities for innovation, the chance to give investors exposure to new markets and doing our part to impact the continued evolution of the ETF industry by meeting the appetite of investor interest.”
The ETFMG Alternative Harvest ETF seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the Prime Alternative Harvest Index. For more information on the Fund please visit: www.MJXetf.com.
Effective December 26th, 2017, the Fund’s name (previously the Tierra XP Latin America Real Estate ETF, ticker symbol: LARE) has changed to the ETFMG Alternative Harvest ETF, ticker symbol: MJX. The Fund’s underlying index has been changed to the Prime Alternative Harvest Index which is provided by Prime Indexes and will be calculated by Solactive AG. Information about the index can be found by visiting www.primeindexes.com.
About ETF Managers Group (ETFMG)
ETFMG is a leading Exchange Traded Funds (ETF) private label services company. ETFMG offers a full range of ETF product services to the asset management community including commodity pool ETPs as well as both active and passive ETF funds. The services provided include product operations, regulatory, financial and compliance management. ETF Managers Group offers active marketing and dedicated wholesale services for all ETF product types. For more information on ETF Managers Group visit www.etfmg.com.
Before investing, carefully consider the Fund’s investment objectives, risk factors, charges, and expenses. This and additional information can be found in the Fund’s prospectus, which may be obtained by calling 1-844-ETF-MGRS (1-844-383-6477), or by visiting www.mjxetf.com. Read it carefully before investing.
Investing involves risk, including the possible loss of principal. Shares of any ETF are bought and sold at market price (not NAV), may trade at a discount or premium to NAV and are not individually redeemed from the Fund. Brokerage commissions will reduce returns. Narrowly focused investments typically exhibit higher volatility.
Companies held by Fund are subject to significant risks, including heightened regulatory risk. The possession and use of marijuana, even for medical purposes, is illegal under federal and certain states’ laws, which may negatively impact the value of the Fund’s investments. Cannabis companies and pharmaceutical companies may never be able to legally produce and sell products in the United States or other national or local jurisdictions. For all important information and investment risks, please visit www.mjxetf.com.
ETF Managers Group LLC is the investment adviser to the fund.
The fund is distributed by ETFMG Financial LLC. ETF Managers Group LLC and ETFMG Financial LLC are wholly owned subsidiaries of Exchange Traded Managers Group LLC (collectively, “ETFMG”). ETFMG Financial LLC is not affiliated with Prime Indexes.
FDA Grants INSYS ‘Fast Track’ Designation for CBD Oral Solution
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/12/26/INSY-FDA-Grants-INSYS-Fast-Track-Designation-for-CBD-cannabidiol-Oral-Solution-Prader-Willi-syndrome
PHOENIX, Dec. 26, 2017 (GLOBE NEWSWIRE) -- INSYS Therapeutics, Inc. (NASDAQ:INSY), announced today that the U.S. Food and Drug Administration (FDA) has granted Fast Track designation to the company’s cannabidiol (CBD) oral solution for the treatment of Prader-Willi syndrome, a rare and complex genetic disorder characterized by insatiable appetite in children that often leads to obesity and type 2 diabetes.
“FDA’s Fast Track designation will enable an expedited regulatory review process for our proprietary formulation of CBD in the treatment of pediatric patients with Prader-Willi syndrome, a debilitating condition which currently does not have any approved products available,” said Steve Sherman, senior vice president of regulatory affairs for INSYS Therapeutics. “We plan to start the clinical development program for this promising therapy in late first quarter of 2018.”
The most common known genetic cause of life-threatening obesity in children, Prader-Willi syndrome has a prevalence of approximately 1 in 15,000, according to the Prader-Willi Syndrome Association, occurring in males and females equally and in all races.
“We are very encouraged by the FDA’s decision to put CBD for Prader-Willi on the Fast Track and believe it is good news for these young patients, their families and clinicians,” said Saeed Motahari, president and chief executive officer of INSYS Therapeutics. “This special regulatory designation represents a significant milestone in the company’s R&D program, which is focused on developing and delivering safe, effective and novel treatment options using cannabinoids and novel drug delivery technology for unmet medical needs.”
About INSYS
INSYS Therapeutics is a specialty pharmaceutical company that develops and commercializes innovative drugs and novel drug delivery systems of therapeutic molecules that improve patients’ quality of life. Using proprietary spray technology and capabilities to develop pharmaceutical cannabinoids, INSYS is developing a pipeline of products intended to address unmet medical needs and the clinical shortcomings of existing commercial products.
Forward-Looking Statements
This news release contains forward-looking statements including regarding (i) our belief that FDA’s Fast Track designation will enable an expedited regulatory review process for our proprietary formulation of CBD in the treatment of pediatric patients with Prader-Willi syndrome, (ii) our belief that Prader-Willi syndrome currently does not have any approved products available and that our proprietary CBD formulation has potential to be a viable treatment option and (iii) our plan to start the clinical development program for this promising therapy in late first quarter of 2018. These forward-looking statements are based on management’s expectations and assumptions as of the date of this news release; actual results may differ materially from those in these forward-looking statements as a result of various factors, many of which are beyond our control. These factors include, but are not limited to, risk factors described in our filings with the United States Securities and Exchange Commission, including those factors discussed under the caption “Risk Factors” in our Annual Report on Form 10-K for the year ended Dec. 31, 2016 and subsequent updates that may occur in our Quarterly Reports on Form 10-Q. Forward-looking statements speak only as of the date of this news release, and we undertake no obligation to publicly update or revise these statements, except as may be required by law.
mCig Reports Substantial Increase in Sales of Its Cannabis Supply Division
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/12/26/mCig-Reports-Substantial-Increase-in-Sales-of-Its-Cannabis-Supply-Division
JACKSONVILLE, FL, Dec. 26, 2017 (GLOBE NEWSWIRE) -- mCig, Inc. (OTC:MCIG) a leading distributor of innovative products, customized packaging solutions, technologies, and services for the global medical cannabis industry, is pleased to announce that it’s Cannabis Supply division signed an agreement with one of the largest cannabis brand valued at $1 million.
MCIG’s California packaging division has shown rapid growth in the last few months. Working closely with our partner, one of the largest packaging manufacture in the world, the division has been able to expand and assist co-packers and brand manufacturers in preparation for the future of recreational cannabis markets in California.
“Since we began just a few short months ago with Cannabis Supply in California, our strategy has been to focus on working with medium to large size businesses in cannabis industry – and it is paying off. We are seeing tremendous interest by these companies to our selection of products, and our quality of products and service,” says Justine Bastida, the General Manager of MCIG’s California Sale Office.
“We are extremely happy with the progress of our Company in California. Based upon historical numbers and the introduction of recreational cannabis in California, we anticipate more than $3 million in sales of our cannabis supply products coming from our California office in the next 12 months. On a separate note, our construction division has just received a new contract that will be providing the details on shortly. We are close to getting our licenses to grow cannabis in California City,” says Paul Rosenberg, CEO of mCig, Inc. He went on to say, “We are expecting great things from the MCIG divisions during the upcoming calendar year of 2018. While 2017 was a phenomenal year, we expect 2018 to be much better!”
About MCIG Group (OTCQB: MCIG)
Headquartered in Jacksonville, Florida, mCig, Inc. (OTCQB: MCIG) is a diversified company servicing the legal cannabis, hemp and CBD markets via its lifestyle brands. mCig, Inc. is committed to being the leading distributor of technology, products, and services to fit the needs of a rapidly expanding industry. mCig, Inc. has transitioned from a vaporizer manufacturer to industry leading large scale, full service cannabis cultivation construction company with its Grow Contractors division currently operating in the rapidly expanding Nevada market.
mCig, Inc. also employs a world renowned tech team and has recently entered the tech space to satisfy its evolving role in technology and in keeping its growing following up to speed.
The company looks forward to growing its core competencies to service the ancillary legal Cannabis, Hemp and CBD markets, with broader expansion to take place once federal laws change. With over seventy five years of experience combined between the key players that make up the Cannabis Grow Contractors Division, mCig Inc. is proud to work with Cannabis Industry leaders and provide broad and rounded solutions for legal growers nationwide.
About OBITX, Inc.
OBITX, Inc., a 100% subsidiary of mCig, Inc., is a strategic investor and operator in the blockchain ecosystem with a particular focus on the Bitcoin and Ethereum blockchains. The team is comprised of experienced developers, programmers, and engineers provide a unique capacity for developing innovative products layered in complexity and designed exclusively for any business initiative.
While OBITX, Inc. covers traditional business sectors it is also concentric and specializes throughout the cannabis and hemp sectors. Expertise involves designing, building and supporting mission critical enterprise applications. Specializing in core product development areas ranging from enterprise infrastructure to low-level system applications, we deliver cutting-edge solutions that leverage our years of experience into robust end products with high availability
Safe Harbor
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company’s ability to develop, market and sell products based on its technology; the expected benefits and efficacy of the Company’s products and technology; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, and future product commercialization; and the Company’s business, research, product development, regulatory approval, marketing and distribution plans and strategies.
This release contains a non-GAAP disclosure, EBIDTA, which consists of net income plus interest expense, net, provision for income taxes and depreciation and amortization. This term, as the Company defines it, may not be comparable to a similarly titled measure used by other companies and is not a measure of performance presented in accordance with GAAP. The Company uses EBIDTA as a measure of operating performance. EBIDTA should not be considered as a substitute for net income.
LP Converting KRAFT Manufacturing Plant to Indoor Cultivation Facility
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/12/21/FV-Pharma-Licensed-Producer-Converting-KRAFT-Manufacturing-Plant-to-Indoor-Cannabis-Cultivation-Facility
VANCOUVER, British Columbia, Dec. 21, 2017 (GLOBE NEWSWIRE) -- Cannabis Wheaton Income Corp. (d/b/a Wheaton Income) (TSXV:CBW) ("Wheaton Income" or "Wheaton" or the "Company") is pleased to announce that it has entered into a letter of intent (the “Agreement”) with FV Pharma Inc. ("FV Pharma" or "FV"), a licensed producer pursuant to the ACMPR having received its cultivation license on October 13, 2017. Under the terms of the agreement, the Company will develop all aspects of FV's cannabis cultivation facility in mutually agreed staged phases (the “Facility Development”), creating the largest indoor cannabis cultivation and processing facility in the world (collectively, the “Transaction”).
The FV Pharma state-of-the-art facility (the “Facility”), hosts an existing 620,000 square feet of building space and is famously known as the former KRAFT® food manufacturing facility. The Facility is ideally situated only one hour east of Toronto in Cobourg, Ontario, off of the 401 highway and has access by car or rail to Ottawa and Montreal.
The Facility rests on 70 acres of land, 32 of which have been utilized for the current building with the remaining 40 acres available for the staged-phased Facility Development. Upon completion of the Facility Development, FV expects to achieve a total of approximately 3,800,000 square feet dedicated to cannabis cultivation and related ancillary businesses all under one roof making it the largest indoor cannabis cultivation facility in the world. The Facility has an electrical substation on site, natural gas lines, multiple water intakes, rail lines directly into the Facility and 26 loading docks thereby providing the robust infrastructure necessary to accommodate FV Pharma's expansion plans.
Wheaton and FV plan to utilize the Facility to supply Canada’s current medical and future recreational market for cannabis with a vision to offer mass quantities of dried cannabis, cannabis oils and, when legally permitted, food-grade cannabis edibles all subject to FV Pharma receiving the necessary licenses.
Pursuant to the Agreement, the Company will receive a 49.9% stream of all cannabis (or cannabis-derived products including any immature cannabis plants and any cannabis trim) produced at the Facility, under partnership with Wheaton, in perpetuity (the “Wheaton Allocation”). The Company estimates that the Wheaton Allocation will result in approximately 200,000,000 grams of cannabis for the Company’s benefit per annum upon completion of all phases of the Facility Development. In exchange for the Wheaton Allocation, using its unique expertise and experience the Company’s management team will assist FV Pharma with all aspects of the design, development, financing, build-out and operations of the Facility as well as the marketing, branding and distribution of the cannabis and cannabis-derived products generated by the Facility.
As part of the arrangement, the Company will also participate in the governance of FV Pharma by having one Company nominee appointed to the board of directors of FV Pharma.
Chuck Rifici, Chairman and Chief Executive Officer of Wheaton Income, stated “This marks a very exciting moment for Cannabis Wheaton. The joint venture with FV Pharma provides us access to the one of the most unique and the largest indoor cannabis facilities on the planet. The KRAFT facility project is highly reminiscent of my early days at Tweed (now Canopy Growth) where I had the privilege of converting that company's first major production asset, the old Hershey factory in Smiths Falls, Ontario into something new and exciting. This is the same scenario but on a much larger scale and in perhaps the most ideal location in Canada, in close proximity to the largest addressable market in the country.
When completed, this massive facility will not only create a tremendous amount of supply for the recreational Canadian market, but it will also create hundreds of jobs for the City of Coburg similar to what we accomplished in Smiths Falls. We are thrilled to be working alongside the FV Pharma team and can’t wait to get started on creating value and growth through best industry practices at a scale that will truly redefine the definition of world-class in this sector.”
“We are delighted to partner with Cannabis Wheaton to develop our cultivation operations in our world class facility,” said Thomas Fairfull, President and CEO of FV Pharma. “There are very few people in the industry that have the experience to convert a large-scale food grade facility into a cannabis cultivation facility. Chuck Rifici, Brad McNamee and some members of their team were part of Tweed’s (now Canopy Growth) repurposing of the former Hershey facility in Smiths Falls, Ontario and that is the closest comparison we could find for us which led to the beginning of this partnership."
The Transaction remains subject to certain conditions precedent including receipt of applicable regulatory approvals including Health Canada approval and the execution of a definitive agreement which the parties expect to occur within 45 days.
ON BEHALF OF THE BOARD
"Chuck Rifici" Chairman & CEO
About Wheaton Income. (TSX.V:CBW)
Wheaton Income is a collective of entrepreneurs with a passion for the cannabis industry past, present and future. Our mandate is to facilitate growth for our partners by providing them with financial support and sharing our collective industry experience. Our partners all have different visions, voices and brand values, and all share a common goal—to build a world-class industry based on ethics, diversity, quality and innovation.
About FV Pharma
FV Pharma’s management mission is to make the former Kraft plant in Cobourg, Ontario the largest hydroponic cannabis indoor facility in the world. FV Pharma intends to target all aspects of the cannabis industry including cultivation, processing, manufacturing, R&D, concentrates, beverages and edibles when and only when it is legal to do so. The facility is only a one hour drive east of Toronto on the 401 highway. FV Pharma has an ACMPR License from Health Canada. FV Pharma is currently a private company.
Notice Regarding Forward Looking Statements:
This news release contains certain "forward-looking information" within the meaning of applicable Canadian securities law. Forward-looking information is frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or information that certain events or conditions "may" or "will" occur. This information is only a prediction. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking information throughout this news release. Forward-looking information includes, but is not limited to: the ability to consummate the Transaction, including the ability to negotiate a definitive agreement on terms satisfactory to the Company, expectations of future growing capacity at the Facility and the related costs, the completion of the planned build-out and expansions, requirements to obtain additional financing for such build-out and expansions, the ability to satisfy the conditions associated with the Facility’s cultivation license, the ability to obtain a sales authorization for the license and the related timing considerations, the Company’s ability to generate revenue through the Agreement, timeliness of government approvals for granting of permits and licenses, actual operating performance of the Facility, regulatory or political change, competition and other risks affecting the Company in particular and the cannabis industry generally. Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Neither the Company nor FV Pharma is under any obligation, and expressly 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 expressly required by applicable law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
GW Pharma Appoints 3 New Independent Board Members
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/12/21/GWPH-GW-Pharmaceuticals-Appoints-3-New-Independent-Board-Members
LONDON, Dec. 21, 2017 (GLOBE NEWSWIRE) -- GW Pharmaceuticals plc (NASDAQ:GWPH) (“GW” or “the Company”), a biopharmaceutical company focused on discovering, developing and commercializing novel therapeutics from its proprietary cannabinoid product platform, today announced the appointment of three new independent members to its Board of Directors, bringing the GW Board to a total of eight members. Joining the Board of Directors today are Catherine Mackey, Alicia Secor and Lord William Waldegrave.
“We are very pleased to welcome these outstanding individuals to the GW Board. The support and guidance of these accomplished leaders will be valuable as GW embarks on the next stage of its journey as a commercial stage company,” stated Dr. Geoffrey Guy, GW’s Founder and Chairman of the Board of Directors. “Their wealth of experience, talent, and expertise offer additive value to our Board profile, as well as expands the number of independent representatives.”
Catherine Mackey, PhD
Dr. Mackey is an experienced corporate executive, director and advisor with over thirty years of accomplishment in the biotechnology, pharmaceutical, and agricultural industries. She is currently Chief Executive Officer of CYPrus Therapeutics, Inc. and Chairman of the Board of Cour Pharmaceutical Development. In addition, she serves on the Board of Directors of Rady Children’s Hospital and as an advisor to several companies. Dr. Mackey previously served as Senior Vice President of Pfizer Worldwide R&D and Director, of Pfizer’s La Jolla Laboratories, where she built Pfizer La Jolla into one of Pfizer’s main pharmaceutical research and development sites with over 1000 employees and a robust drug pipeline. Prior to that role she served as head of Strategic Alliances and also Genomic and Proteomic Sciences for Pfizer. Dr. Mackey spent the first part of her career in agricultural biotechnology, including as Vice President of DEKALB Genetics, Inc. Dr. Mackey received her B.S. and Ph.D. degrees in microbiology and genetics from Cornell University.
Alicia Secor
Alicia Secor is currently President and Chief Executive Officer of Juniper Pharmaceuticals. Ms. Secor brings more than 25 years of leadership experience as a life sciences executive, with a track record in leading businesses and advancing products from clinical development through regulatory approval, commercialization, and global expansion across several therapeutic areas. Ms. Secor was previously Chief Commercial Officer at Zafgen, Inc. and Senior Vice President and Chief Operating Officer at Synageva BioPharma Corp. Ms. Secor spent 15 years at Genzyme Corporation in diverse leadership roles, most recently as the Global General Manager for the Metabolic Disease Business. During her tenure at Genzyme, Ms. Secor led fully integrated businesses, successfully launching products and achieving sustained revenue growth. Ms. Secor spearheaded several strategic transactions and built high performance teams, resulting in consistent growth and profitability across multiple Genzyme businesses including biomaterials, surgical devices, and injectable therapeutics. Prior to Genzyme, Ms. Secor held positions at Alkermes, Inc. in business development, and at Centocor, Inc. (a Johnson & Johnson Company) in clinical and commercial operations. She began her career at Pfizer Inc. as a hospital-based sales representative. Ms. Secor received an M.B.A. from Northeastern University, and a B.S. in Healthcare Administration from the University of New Hampshire and serves as a member of the Board of Directors for the Foundation for Prader-Willi Research (FPWR).
William Waldegrave (Lord Waldegrave of North Hill)
Lord Waldegrave served as a Conservative Member of the British Parliament from 1979 to 1997 including sixteen years as a Government Minister, of which seven years were as a Cabinet Minister (Minister of Agriculture, Chief Secretary of the Treasury, Secretary of State for Health, and Chancellor of the Duchy of Lancaster with responsibility for the Civil Service Reform and Science). Educated at Oxford University and Harvard (a Kennedy Scholar), before entering Parliament he worked in the Cabinet Office in Whitehall; as Political Secretary to Prime Minister Edward Heath; and for GEC Ltd. Lord Waldegrave is currently Provost of Eton College, Chancellor of Reading University and a Distinguished Fellow of All Souls College, Oxford and an Honorary Fellow of Corpus Christi College, Oxford. From 1998-2008 he worked at Deutsche Kleinwort Benson and UBS. From 1998–2015, he served as Chairman of Biotechnology Growth Trust plc. Lord Waldegrave was appointed Chairman of Coutts in January 2014 and is Chairman of the Royal Mint Advisory Committee, former Chairman of the Rhodes Trust, a Founder Trustee of the Mandela Rhodes Foundation (South Africa), and a former Chairman of the National Museum of Science and Industry.
About GW Pharmaceuticals plc and Greenwich Biosciences
Founded in 1998, GW is a biopharmaceutical company focused on discovering, developing and commercializing novel therapeutics from its proprietary cannabinoid product platform in a broad range of disease areas. GW, along with its U.S. subsidiary Greenwich Biosciences, is advancing an orphan drug program in the field of childhood epilepsy with a focus on Epidiolex (cannabidiol), for which GW has submitted an NDA to the FDA for the adjunctive treatment of LGS and Dravet syndrome. The Company continues to evaluate Epidiolex in additional epilepsy conditions and currently has ongoing clinical trials in Tuberous Sclerosis Complex and Infantile Spasms. GW commercialized the world’s first plant-derived cannabinoid prescription drug, Sativex® (nabiximols), which is approved for the treatment of spasticity due to multiple sclerosis in numerous countries outside the United States. The Company has a deep pipeline of additional cannabinoid product candidates which includes compounds in Phase 1 and 2 trials for gliobastoma, schizophrenia and epilepsy. For further information, please visit www.gwpharm.com.
Forward-looking statements
This news release contains forward-looking statements that reflect GW's current expectations regarding future events, including statements regarding financial performance, the timing of clinical trials, the timing and outcomes of regulatory or intellectual property decisions, the relevance of GW products commercially available and in development, the clinical benefits of Epidiolex® (cannabidiol) and the safety profile and commercial potential of Epidiolex. Forward-looking statements involve risks and uncertainties. Actual events could differ materially from those projected herein and depend on a number of factors, including (inter alia), the success of GW’s research strategies, the applicability of the discoveries made therein, the successful and timely completion and uncertainties related to the regulatory process, and the acceptance of Sativex, Epidiolex and other products by consumer and medical professionals. A further list and description of risks and uncertainties associated with an investment in GW can be found in GW’s filings with the U.S. Securities and Exchange Commission, including the most recent Form 20-F filed on 4 December 2017. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. GW undertakes no obligation to update or revise the information contained in this press release, whether as a result of new information, future events or circumstances or otherwise.
Future Farm Expands Maine Hemp Farm Operations
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/12/21/FFT-FFRMF-Future-Farm-Expands-Maine-Hemp-Farm-Operations
Vancouver, British Columbia / TheNewswire / December 21, 2017 - Future Farm Technologies Inc. (the "Company" or "Future Farm") (CSE:FFT) (OTC:FFRMF) is pleased to announce it has signed a lease agreement for 100-acres in Maine, thereby doubling its previously announced purchase of 120-acres of a licensed industrial hemp farm. As part of the lease agreement, the Company has an option to lease up to an additional 1,000-acres from the Landlord. The land under lease is organic and so all activity, equipment, practices and applications must follow the Organic Guidelines set forth by MOFGA (Maine Organic Farmers and Gardeners Association).
The Company also announces that it is preparing to set up a hemp cloning operation, which will use vertical farming technology pioneered by the Company to supply over 200,000 clones to the farm in 2018. The hemp clones will also be grown under the Company's Scorpion LED grow lights, which will save on electricity costs and further leverage its in house technology.
As part of the lease agreement Future Farm shall have access to a full line of farming equipment, thereby eliminating the upfront cost of having to purchase the equipment.
"This lease agreement positions us in the hemp farming and CBD business for growing, researching, developing and selling organic hemp and CBD oil, which contain a broad range of cannabinoids used to treat a growing population of CBD oil consumers," comments Bill Gildea, CEO of Future Farm. "We look forward to a very busy 2018 with our hemp and cannabis operations positioned on both coasts to meet the exploding demand of THC and CBD oil."
The U.S. annually imports $500 million of hemp and hemp-related products. Hemp is a fast growing, high margin closely-related business to the cannabis business growing at a 22% CAGR currently valued at over $688 million, and estimated to grow to $1.8 billion by 2020 in the USA.
For further information, contact William Gildea, Director, at 617.834.9467.
On behalf of the Board,
Future Farm Technologies Inc.
William Gildea, CEO & Chairman
About Future Farm
Future Farm Technologies Inc. is a Canadian company with projects throughout North America including California, Florida and Maryland. The Company's business model includes developing and acquiring technologies that will position it as a leader in the evolution of Controlled Environment Agriculture (CEA) for the global production of various types of plants, with a focus on cannabis. Future Farm provides scalable, indoor CEA systems that utilize minimal land, water and energy regardless of climate, location or time of year and are customized to grow an abundance of crops close to consumers, therefore minimizing food miles and its impact to the environment. The Company holds an exclusive, worldwide license to use a patented vertical farming technology that, when compared to traditional plant production methods, generates yields up to 10 times greater per square foot of land. The contained system provides many other benefits including 90% less water, fertilizer and land used, less travel costs, seed to sale security, scalability, consistency due to year-round production, cost control, product safety and purity by eliminating environmental variability. The Company also utilizes a leading cannabis oil extraction technology, which enables the Company to process 20lbs/hour of cannabis plant to yield approximately 908 grams/hour of oil.
The Company is also in the business of designing and distributing LED lighting solutions utilizing the COB and MCOB technology. The Company is focused on delivering cost efficient lighting to North America via advanced e-commerce sites the Company owns and operates. LEDCanada.com, which caters to B2B customers, is a supplier of the newest and highest demand LED solutions. The Company also owns and operates COBGrowlights.com, which caters to both large and small agriculture green houses and controlled cultivation centers.
The Company recently acquired the exclusive right to use a patented, augmented reality (AR) technology in the cannabis industry. As described in more detail above, the Company has decided to spin this asset off to its shareholders.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. The Canadian Securities Exchange has not in any way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
Aphria to Invest in Proposed Merger of Tokyo Smoke and DOJA
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/12/21/APH-APHQF-Aphria-to-Invest-in-Proposed-Merger-of-Tokyo-Smoke-and-DOJA
On the heals of the recently announced $100 million CAD bought deal financing round for Aphria Inc. (TSX:APH) (OTC:APHQF), the company has announced that it has committed to make a $10 million CAD equity investment in the combination of two premium cannabis brands - DOJA Cannabis Company Limited (CSE:DOJA) (OTC:DJACF) and ??TS ??Brandco ??Holdings ??Inc., the holding company of Tokyo Smoke.
This morning, the two cannabis brand companies announced that they've entered into a binding ??Letter ??of ??Intent for DOJA to acquire all outstanding shares of Tokyo Smoke and merge to create a new company called Hiku ??Brands ??Company ??Ltd. DOJA's ??Board ??of ??Directors ??and ??Tokyo ??Smoke's ??Board ??of ??Directors ??have ??already approved ??the ??merger.
Hiku will be a new 'brand house' ??containing ???premium ??Canadian cannabis ??brands such as ??DOJA, ??Tokyo ??Smoke, ??and Van ??der ??Pop. The combination of Tokyo Smoke and British Columbia based DOJA would bring together two premium lifestyle brands to serve the highly anticipated recreational cannabis market. Aphria's investment in the combined entity represents a furthering of the company's strategic positioning to be a leader in the recreational market, once legalized in Canada.
Merger ??Structure ??and ??Terms
Under ??the ??terms ??of ??the ??merger, ??DOJA ??will ??acquire ??all ??of ??the ??outstanding ??Tokyo ??Smoke ??Shares ??in exchange ??for ??shares ??of ??DOJA. The ??LOI ??currently ??contemplates ??the ??parties ??entering ??into ??a ??definitive ??agreement ????prior ??to ??January ??15, ??2018, ??and ??completing ??the ??merger ??by ??no ??later ??than ??March ??31, ??2018, unless ??otherwise ??agreed ??by ??the ??parties.
Based ??upon ??the ??number ??of ??Tokyo ??Smoke ??Shares ??outstanding ??as ??at ??December ??21, ??2017, ??if ??the ??Merger ??is completed, ??DOJA ??will ??issue ??approximately ??55.6 ??million ??DOJA ??Shares ??to ??the ??shareholders ??of ??Tokyo ??Smoke in ??exchange ??for ??their ??Tokyo ??Smoke ??Shares.
Strategic ??Financing Structure
Aphria, ??along ??with ??Uji ??Capital ??have ??entered ??into ??binding agreements ??with ??DOJA ??pursuant ??to ??which ??the ??iInvestors ??will ??acquire ??from ??DOJA, ??on ??a non-brokered ??private ??placement ??basis, ??8,992,805 ??subscription ??receipts ? ??of DOJA ??at ??a ??purchase ??price ??of ??$1.39 CAD ??per ??subscription receipt, ??equivalent ??to ??DOJA's ??five ??day ??volume weighted ??share ??price, ??for ??aggregate ??gross ??proceeds ??of ??$12.5 ??million ??CAD.
Of the $12.5 million CAD to be invested, $10 million CAD of it comes from Aphria.
The ??Subscription ??Receipts ??will ??be ??automatically ??convertible ??in?to ??units ??of ??Hiku upon ??the satisfaction ??of ??certain ??escrow ??release ??conditions, ??with ??each ??unit ??comprised ??of ??one ??common ??share ??of ??Hiku ??and ??one ??common ??share ??purchase warrant ??of ??Hiku. ??
Each ??warrant will ??be ??exercisable ??to ??acquire ??one ??common ??share ??for ??a ??period ??of ??two ??years ??from ??the closing ??date ??of ??the ??merger ??at ??an ??exercise ??price ??of ??$2.10 CAD ??per ??warrant ??share.
??If, ??following ??the ??closing ??of ??the merger, ??the ??volume ??weighted ??average ??price ??of ??the ??common ??shares ??on ??the ??Canadian ??Securities ??Exchange is ??equal ??to ??or ??greater ??than ??$3.05 CAD ??for ??any ??twenty ??consecutive ??trading ??days, ??Hiku ??may, ??upon ??providing written ??notice ??to ??the ??holders ??of ??the ??warrants, ??accelerate ??the ??expiry ??date ??of ??the ??warrants ??to ??the ??date ??that ??is 30 ??days ??following ??the ??date ??of ??such ??written ??notice.
Aphria Bolsters Relationship with Tokyo Smoke
The equity investment in Hiku builds on Aphria's existing investment in Tokyo Smoke. On June 30, 2017, Aphria entered into a subscription agreement with Tokyo Smoke for the purchase of 140,845 common shares, for a total cost of $1,000,000 CAD. As part of an existing licensing agreement signed in September 2016, Aphria also produces and ships Tokyo Smoke branded cannabis in Canada to registered patients through the ACMPR system. The existing licensing agreement also contains provisions for the agreement to apply to the anticipated adult recreational use market.
"This exciting announcement marks a major step forward in Aphria's recreational cannabis strategy and represents Aphria's first venture into the lucrative British Columbia premium cannabis market." said Vic Neufeld, CEO of Aphria. "In Hiku, we are investing in refined, up-market brands that align with our commitment to encouraging a more dignified positioning of recreational cannabis use, something we expect will be an important and valuable differentiator for Aphria as Canada moves closer to legalizing recreational cannabis. We look forward to working closely with Hiku to support its success and brand leadership in the recreational market."
"This ??strategic ??investment ??in ??and ??supply ??agreement ??with ??Hiku ??further ??bolsters ??our ??relationship ??with ??Tokyo Smoke ??and ??now ??DOJA, ??and ??reaffirms ??our ??commitment ??to ??expanding ??our ??product ??offering ??ahead ??of ??the recreational ??market," ??said ??Vic ??Neufeld, ??Chief ??Executive ??Officer ??of ??Aphria. ??"This ??transaction ??has ??the ??twofold benefit ??of ??providing ??us ??access ??to ??strong ??brands, ??through ??Tokyo ??Smoke ??and ??DOJA, ??and ??craft-cultivated British ??Columbia ??bud, ??through ??DOJA. ??Quality ??product ??and ??recognizable ??consumer ??brands ??will ??be ??key differentiators ??for ??patients ??and ??consumers, ??and ??we're ??looking ??forward ??to ??continuing ??our ??work ??with ??Hiku ??to create ??premium ??cannabis ??brands ??in ??Canada."
"This strategic partnership and investment from Aphria represents the ultimate validation of Hiku's vision to offer the leading cannabis consumer experience. We are ecstatic to be partnering again with Aphria, a proven operator and greenhouse cannabis cultivator, to bring our products to the Canadian medical and future recreational markets," said Alan Gertner, Chief Executive Officer of Hiku. "With this landmark partnership, we have the opportunity to offer Canadians a compelling combination of craft British Columbia product, top notch branding, greenhouse supply and owned retail that will allow Hiku to have a distinct business with high quality control, high demand and high margin."
Agreement Between Aphria and Hiku
In addition to the contemplated equity investment in Hiku, Aphria will establish an agreement with Hiku that includes:
A supply agreement that builds on the existing supply agreement for the dried flower between Aphria and Tokyo Smoke that adds high-quality cannabis oil to the list of products Aphria will white label for the Tokyo Smoke brand; and,
The issuance of 0.8 million units in Hiku, on the same terms as the equity investment, to Aphria in exchange for entering the supply agreement.
In addition to the agreement noted above, Aphria and Hiku are currently in the process of finalizing the following, to take affect once DOJA's wholly-owned subsidiary receives its license to sell cannabis under the ACMPR:
A supply agreement whereby Aphria will have access to DOJA's premium West Coast cannabis;
A tolling agreement whereby Aphria will process cannabis oil for Hiku using dried cannabis supplied by DOJA;
A distribution agreement whereby Aphria will have access to Hiku's independent retail locations in provinces where private licenses will be granted; and
DOJA will leverage Aphria's distribution network to sell branded cannabis. DOJA's subsidiary has requested a pre-sales license inspection from Health Canada, the last step prior to issuance of a sales license under the ACMPR.
Additional Transaction Details
The share value for Aphria's equity is $1.39 CAD, priced at the 5-day VWAP (volume weighted average price) as of today's market close. As a result, Aphria would receive 7,194,244 common shares in Hiku;
Aphria will receive a full warrant for each common share it receives, exercisable for a two-year period, priced at $2.10 CAD, a 50% premium to the share value of its investment on the date of announcement; and,
The warrant maintains a forced conversion feature, for the benefit of Hiku, priced at $3.05 CAD or 120% premium on the share value of Aphria's investment.
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Aphria to Invest in Proposed Merger of Tokyo Smoke and DOJA
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/12/21/APH-APHQF-Aphria-to-Invest-in-Proposed-Merger-of-Tokyo-Smoke-and-DOJA
On the heals of the recently announced $100 million CAD bought deal financing round for Aphria Inc. (TSX:APH) (OTC:APHQF), the company has announced that it has committed to make a $10 million CAD equity investment in the combination of two premium cannabis brands - DOJA Cannabis Company Limited (CSE:DOJA) (OTC:DJACF) and ??TS ??Brandco ??Holdings ??Inc., the holding company of Tokyo Smoke.
This morning, the two cannabis brand companies announced that they've entered into a binding ??Letter ??of ??Intent for DOJA to acquire all outstanding shares of Tokyo Smoke and merge to create a new company called Hiku ??Brands ??Company ??Ltd. DOJA's ??Board ??of ??Directors ??and ??Tokyo ??Smoke's ??Board ??of ??Directors ??have ??already approved ??the ??merger.
Hiku will be a new 'brand house' ??containing ???premium ??Canadian cannabis ??brands such as ??DOJA, ??Tokyo ??Smoke, ??and Van ??der ??Pop. The combination of Tokyo Smoke and British Columbia based DOJA would bring together two premium lifestyle brands to serve the highly anticipated recreational cannabis market. Aphria's investment in the combined entity represents a furthering of the company's strategic positioning to be a leader in the recreational market, once legalized in Canada.
Merger ??Structure ??and ??Terms
Under ??the ??terms ??of ??the ??merger, ??DOJA ??will ??acquire ??all ??of ??the ??outstanding ??Tokyo ??Smoke ??Shares ??in exchange ??for ??shares ??of ??DOJA. The ??LOI ??currently ??contemplates ??the ??parties ??entering ??into ??a ??definitive ??agreement ????prior ??to ??January ??15, ??2018, ??and ??completing ??the ??merger ??by ??no ??later ??than ??March ??31, ??2018, unless ??otherwise ??agreed ??by ??the ??parties.
Based ??upon ??the ??number ??of ??Tokyo ??Smoke ??Shares ??outstanding ??as ??at ??December ??21, ??2017, ??if ??the ??Merger ??is completed, ??DOJA ??will ??issue ??approximately ??55.6 ??million ??DOJA ??Shares ??to ??the ??shareholders ??of ??Tokyo ??Smoke in ??exchange ??for ??their ??Tokyo ??Smoke ??Shares.
Strategic ??Financing Structure
Aphria, ??along ??with ??Uji ??Capital ??have ??entered ??into ??binding agreements ??with ??DOJA ??pursuant ??to ??which ??the ??iInvestors ??will ??acquire ??from ??DOJA, ??on ??a non-brokered ??private ??placement ??basis, ??8,992,805 ??subscription ??receipts ? ??of DOJA ??at ??a ??purchase ??price ??of ??$1.39 CAD ??per ??subscription receipt, ??equivalent ??to ??DOJA's ??five ??day ??volume weighted ??share ??price, ??for ??aggregate ??gross ??proceeds ??of ??$12.5 ??million ??CAD.
Of the $12.5 million CAD to be invested, $10 million CAD of it comes from Aphria.
The ??Subscription ??Receipts ??will ??be ??automatically ??convertible ??in?to ??units ??of ??Hiku upon ??the satisfaction ??of ??certain ??escrow ??release ??conditions, ??with ??each ??unit ??comprised ??of ??one ??common ??share ??of ??Hiku ??and ??one ??common ??share ??purchase warrant ??of ??Hiku. ??
Each ??warrant will ??be ??exercisable ??to ??acquire ??one ??common ??share ??for ??a ??period ??of ??two ??years ??from ??the closing ??date ??of ??the ??merger ??at ??an ??exercise ??price ??of ??$2.10 CAD ??per ??warrant ??share.
??If, ??following ??the ??closing ??of ??the merger, ??the ??volume ??weighted ??average ??price ??of ??the ??common ??shares ??on ??the ??Canadian ??Securities ??Exchange is ??equal ??to ??or ??greater ??than ??$3.05 CAD ??for ??any ??twenty ??consecutive ??trading ??days, ??Hiku ??may, ??upon ??providing written ??notice ??to ??the ??holders ??of ??the ??warrants, ??accelerate ??the ??expiry ??date ??of ??the ??warrants ??to ??the ??date ??that ??is 30 ??days ??following ??the ??date ??of ??such ??written ??notice.
Aphria Bolsters Relationship with Tokyo Smoke
The equity investment in Hiku builds on Aphria's existing investment in Tokyo Smoke. On June 30, 2017, Aphria entered into a subscription agreement with Tokyo Smoke for the purchase of 140,845 common shares, for a total cost of $1,000,000 CAD. As part of an existing licensing agreement signed in September 2016, Aphria also produces and ships Tokyo Smoke branded cannabis in Canada to registered patients through the ACMPR system. The existing licensing agreement also contains provisions for the agreement to apply to the anticipated adult recreational use market.
"This exciting announcement marks a major step forward in Aphria's recreational cannabis strategy and represents Aphria's first venture into the lucrative British Columbia premium cannabis market." said Vic Neufeld, CEO of Aphria. "In Hiku, we are investing in refined, up-market brands that align with our commitment to encouraging a more dignified positioning of recreational cannabis use, something we expect will be an important and valuable differentiator for Aphria as Canada moves closer to legalizing recreational cannabis. We look forward to working closely with Hiku to support its success and brand leadership in the recreational market."
"This ??strategic ??investment ??in ??and ??supply ??agreement ??with ??Hiku ??further ??bolsters ??our ??relationship ??with ??Tokyo Smoke ??and ??now ??DOJA, ??and ??reaffirms ??our ??commitment ??to ??expanding ??our ??product ??offering ??ahead ??of ??the recreational ??market," ??said ??Vic ??Neufeld, ??Chief ??Executive ??Officer ??of ??Aphria. ??"This ??transaction ??has ??the ??twofold benefit ??of ??providing ??us ??access ??to ??strong ??brands, ??through ??Tokyo ??Smoke ??and ??DOJA, ??and ??craft-cultivated British ??Columbia ??bud, ??through ??DOJA. ??Quality ??product ??and ??recognizable ??consumer ??brands ??will ??be ??key differentiators ??for ??patients ??and ??consumers, ??and ??we're ??looking ??forward ??to ??continuing ??our ??work ??with ??Hiku ??to create ??premium ??cannabis ??brands ??in ??Canada."
"This strategic partnership and investment from Aphria represents the ultimate validation of Hiku's vision to offer the leading cannabis consumer experience. We are ecstatic to be partnering again with Aphria, a proven operator and greenhouse cannabis cultivator, to bring our products to the Canadian medical and future recreational markets," said Alan Gertner, Chief Executive Officer of Hiku. "With this landmark partnership, we have the opportunity to offer Canadians a compelling combination of craft British Columbia product, top notch branding, greenhouse supply and owned retail that will allow Hiku to have a distinct business with high quality control, high demand and high margin."
Agreement Between Aphria and Hiku
In addition to the contemplated equity investment in Hiku, Aphria will establish an agreement with Hiku that includes:
A supply agreement that builds on the existing supply agreement for the dried flower between Aphria and Tokyo Smoke that adds high-quality cannabis oil to the list of products Aphria will white label for the Tokyo Smoke brand; and,
The issuance of 0.8 million units in Hiku, on the same terms as the equity investment, to Aphria in exchange for entering the supply agreement.
In addition to the agreement noted above, Aphria and Hiku are currently in the process of finalizing the following, to take affect once DOJA's wholly-owned subsidiary receives its license to sell cannabis under the ACMPR:
A supply agreement whereby Aphria will have access to DOJA's premium West Coast cannabis;
A tolling agreement whereby Aphria will process cannabis oil for Hiku using dried cannabis supplied by DOJA;
A distribution agreement whereby Aphria will have access to Hiku's independent retail locations in provinces where private licenses will be granted; and
DOJA will leverage Aphria's distribution network to sell branded cannabis. DOJA's subsidiary has requested a pre-sales license inspection from Health Canada, the last step prior to issuance of a sales license under the ACMPR.
Additional Transaction Details
The share value for Aphria's equity is $1.39 CAD, priced at the 5-day VWAP (volume weighted average price) as of today's market close. As a result, Aphria would receive 7,194,244 common shares in Hiku;
Aphria will receive a full warrant for each common share it receives, exercisable for a two-year period, priced at $2.10 CAD, a 50% premium to the share value of its investment on the date of announcement; and,
The warrant maintains a forced conversion feature, for the benefit of Hiku, priced at $3.05 CAD or 120% premium on the share value of Aphria's investment.
MyDx Board of Directors Cancel Reverse Stock Split
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/12/20/MyDx-Cancels-Reverse-Stock-Split
SAN DIEGO, Dec. 20, 2017 /CNW/ -- MyDx, Inc. (OTC:MYDX), a science and technology company and creator of MyDx®(My Diagnostic), the first multi-use handheld chemical analyzer designed for Cannabis professionals and retail consumers to correlate the chemical profile of cannabis with how it makes them feel and which ailments it alleviates, today announced that based upon recent and anticipated developments for the Company, the board has decided to cancel its plans for the reverse stock split approved earlier this year.
"With the influx of interest for our MyDx360 services, including ancillary products such as the EcoSmartPen™, as well as the progress we have made in the analysis of our 55K+ data points and the development of MyDx crowdsourced formulations, we are very optimistic about where the Company is headed into 2018. This, combined with the fact that recreational Cannabis will be legal in California in less than two weeks, gives us confidence that our valuation is better achieved without having to complete a reverse stock split at this time and simply allowing the free market to determine our value," said Daniel Yazbeck, CEO of MyDx.
The initial reason for ratifying and approving the reverse split was that the board believed that the Company's outstanding shares may have needed to be reduced with the primary goal of better enabling the Company to raise funds to finance growth as well as facilitating higher levels of institutional stock ownership where investment policies generally prohibit investments in lower-priced securities.
That said, the executive team has complete confidence in its current business strategy to attract a broader range of new shareholders at this price level. While the Company remains optimistic, there can be no assurance that this will be the case.
To learn more about MyDx, please visit www.mydxlife.com
To learn more about MyDx360™, please visit www.mydxlife.com/mydx360.
To learn more about the EcoSmartPen™, please visit www.mydxlife.com/ecosmartpen.
About MyDx, Inc.
MyDx, Inc. (OTC:MYDX) is a chemical detection and sensor technology company based in San Diego, California whose mission is to help people Trust & Verify® what they put into their minds and bodies. The Company's first product, MyDx®, also known as "My Diagnostic", is a patented multiuse hand-held chemical analyzer designed to help consumers and professional test for pesticides in food, chemicals in water, toxins in the air, and the safety and potency of cannabis samples, which is the initial focus of through the CannaDxTM application. CannaDx users have submitted over 40,000 crowdsourced datapoints revealing the chemical profile of the cannabis they are consuming and how its making them feel which feeds a data analytics platform, a SaaS business, as well as the biopharmaceutical division of MyDx. The company is committed to addressing areas of critical national need to promote public safety, transparency and regulation in the various markets we serve and hence its more immediate mission is to continue to develop smart devices as part of an ecosystem that crowdsources consumer generated preclinical data to drive innovation in the cannabis industry. For more information, please visit www.mydxlife.com.
Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27(a) of the Securities Act of 1933, as amended, and Section 21(e) of the Securities Exchange Act of 1934, as amended. Statements may contain certain forward-looking statements pertaining to future anticipated or projected plans, performance and developments, as well as other statements relating to future operations and results. Any statements in this press release that are not statements of historical fact may be considered to be forward-looking statements. Words such as "may," "will," "expect," "believe," "anticipate," "estimate," "intends," "goal," "objective," "seek," "attempt," or variations of these or similar words, identify forward-looking statements. These forward-looking statements by their nature are estimates of future results only and involve substantial risks and uncertainties, including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, our ability to complete our product testing and launch our product commercially, the acceptance of our product in the marketplace, the uncertainty of the laws and regulations relating to cannabis, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties detailed from time to time in our reports filed with the Securities and Exchange Commission, available at http://ir.mydxlife.com/all-sec-filings or www.sec.gov.
Former Aurora CFO Joins Vodis Pharmaceuticals Board of Directors
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/12/20/Former-Aurora-ACB-ACBFF-CFO-Joins-Vodis-Pharmaceuticals-VP-VDQSF-Board-of-Directors
December 20, 2017 / TheNewswire / Vancouver, British Columbia - Vodis Pharmaceuticals Inc. (CSE:VP) (OTC:VDQSF) (FWB:1JV1) ("Vodis" or the "Company") announces the appointment of John Bean as a director of the Company effective immediately.
Experienced Cannabis Sector CFO Provides Financial Leadership and Further Strengthens Corporate Governance
Mr. Bean, who will sit as an independent Director, has financial management, capital markets and corporate governance experience in the medical cannabis industries. He is a CPA (BC), CA.
Mr. Bean was the CFO of Aurora Cannabis Inc. (TSX:ACB), a licensed producer of medical cannabis, during its first two years as a public company, when it obtained its licence to grow, became licence to sell, and then received customer revenue.
Mr. Bean has served on the boards of Prescient Mining Corp., which became Aurora Cannabis Inc.; General Fusion Inc.; SyncWave Energy Inc.; TAP Ventures, Inc.; RSI International, BC Technologies Industry Association; Accenture's CSTaR (Center for Strategic Technology Research); and Bobolink Daycare Society for Deaf Children."
John is a valuable addition to Vodis' Board, bringing significant financial and capital markets experience, as we enter a pivotal period in our corporate development," said Ivan Miliovski, CEO. "His wise counsel will serve our shareholders well, as we execute on our strategic plans."
"I am delighted to join the Vodis team, and excited to support the Company's rapid growth" said Mr. Bean.
In connection with the above appointment, the Company has granted John Bean an aggregate of 200,000 stock options exercisable at $0.485 per common share for a period of five years expiring on December 20, 2022, subject to all requisite regulatory approvals.
About Vodis Pharmaceuticals Inc.
Vodis is one of North America's foremost brand names in the medical and recreational marijuana business with operations in both the United States and Canada. Its master grow teams have consistently won or placed at each Canadian competition they have entered with their "VIP" brand. The Company, with facilities in British Columbia and Washington State, is also actively looking into expansion opportunities in other countries and throughout the United States.
While Vodis and its subsidiaries cannot have any interest whatsoever in any proceeds as a result of production, processing or retail activities in the United States, it can license its brand, production and consulting services to approved Washington State license holders to ensure that all products produced under the Vodis Pharmaceuticals program and/or associated under the VIP brand meet or exceed Vodis-brand quality standards.
The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.
Nutritional High "FLI" Vape Cartridges Now in California Dispensaries
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/12/20/SPLIF-EAT-Nutritional-High-FLI-Vape-Cartridges-Now-in-California-Dispensaries
TORONTO, Dec. 20, 2017 (GLOBE NEWSWIRE) -- Nutritional High International Inc. (the "Company" or "Nutritional High") (CSE:EAT) (OTC:SPLIF) (FRANKFURT:2NU) has commenced the sale of FLI vape cartridges in California and is pleased to report that the products are now on the shelves of several medical dispensaries in the State. As announced in the press release dated November 14, 2017, Nutritional High has engaged a licensed manufacturer ("CA Manufacturer") to produce FLI-branded vape cartridges to Nutritional High’s specifications.
Jim Frazier, CEO of Nutritional High commented – "We are very excited to reach this important milestone. Today marks the day that FLI-branded products are now sold in two states and also the first anniversary of the initial launch of the FLI brand in Colorado. Having the backing of a strong distributor in Calyx provides us with an important strategic advantage to ensure we develop a strong presence in California as recreational sales are launched in the New Year."
Since announcing the California partnership, the Company has been working with principals of the CA Manufacturer to further develop standard operating procedures ("SOPs") that Nutritional High will adopt at all its extraction facilities and with all manufacturing partners. Standardized SOPs allows the Company to ensure that the quality and consistency of FLI products live up to the expectations that the consumers and patients have come to expect from the brand.
The CA Manufacturer will initially focus on producing FLI Select, High Terpene and Premiumproduct lines and subsequently will commence manufacturing other concentrate and edible products.
Until the provisions of Medicinal and Adult-Use Cannabis Regulation and Safety Act ("MAUCRSA") take effect on January 1, 2018, California Proposition 215 remains in effect. CA Manufacturer is a California mutual benefit corporation that is licensed by municipal authorities in the San Francisco Bay area to manufacture and sell cannabis concentrate products to organizations that are licensed to sell to medical patients from requisite local authorities. The Company’s management has taken steps to ensure that the CA Manufacturer complies with the guidelines set out in the Cole Memo, and that it will comply with MAUCRSA once it comes into effect. Currently, neither the Company nor any of its subsidiaries engage in activities in the State of California that directly involve production, processing, distribution or retail sales of cannabis or its derivatives.
Update on Nevada Transaction
The Company also wishes to report that it has finalized the termination of its Nevada transaction and has completed the transfer of producer and processor licenses back to the vendor. It is expected that all funds previously deposited into escrow will be returned to Nutritional High in short order. Nutritional High continues to explore efforts to enter the Nevada market on a "capital-light" brand licensing or contract manufacturing basis. In that regard, the Company is engaged in discussions with potential licensed operators with a view towards structuring a partnership in 2018.
About Nutritional High International Inc.
Nutritional High is focused on developing, manufacturing and distributing premium and consistently dosed products in the cannabis-infused products industry, including edibles and oil extracts for nutritional, medical and adult recreational use. The Company works exclusively through licensed facilities in jurisdictions where such activity is permitted and regulated by state law.
For updates on the Company's activities and highlights of the Company's press releases and other media coverage, please follow Nutritional High on Facebook, Twitter, Instagram and Google+ or visit www.nutritionalhigh.com.
For further information, please contact:
David Posner, Chairman of the Board
Nutritional High International Inc.
647-985-6727
Email: dposner@nutritionalhigh.com
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR OTC MARKETS GROUP INC., NOR THEIR REGULATIONS SERVICES PROVIDERS HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Such statements include submission of the relevant documentation within the required timeframe and to the satisfaction of the relevant regulators, completing the acquisition of the applicable real estate and raising sufficient financing to complete the Company's business strategy. There is no certainty that any of these events will occur. Although such statements are based on management's reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances.
Company's securities have not been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or "U.S. Persons", as such term is defined in Regulation S under the U.S. Securities Act, absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful.
Additionally, there are known and unknown risk factors which could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.
Friday Night Inc. Announces Quarterly Financial Results
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/12/20/TGIF-TGIFF-Friday-Night-Inc-Announces-Quarterly-Financial-Results
VANCOUVER, BC / ACCESSWIRE / December 20, 2017 / Friday Night Inc. (Friday Night) (CSE:TGIF) (FWB:1QF) (OTC:TGIFF) is pleased to announce financial results for the first quarter ending October 31, 2017.
Q1 Financial Highlights
Strong US operational results of approximately CDN $2.5 million in gross revenue
Record gross profit of $1,133,979
Cash at end of period of $5,637,152
Selected Quarterly Information
The following table shows results for the quarter ended October 31, 2017 in Canadian dollars.
REST OF RELEASE: https://www.dailymarijuanaobserver.com/single-post/2017/12/20/TGIF-TGIFF-Friday-Night-Inc-Announces-Quarterly-Financial-Results
Aurora Cannabis to Make Strategic Investment in Micron Waste Technologies
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/12/19/ACB-ACBFF-Aurora-Cannabis-to-Make-Strategic-Investment-in-Micron-Waste-Technologies
VANCOUVER, Dec. 19, 2017 /CNW/ - Aurora Cannabis Inc. (the "Company" or "Aurora") (TSX:ACB) (OTC:ACBFF) (Frankfurt:21P; WKN:A1C4WM) and Micron Waste Technologies Inc. ("Micron") (CSE:MWM, OTC:MICWF, Frankfurt:7FM2), a developer of proprietary digester solutions for the treatment of organic waste, today announced that the companies have signed a non-binding term sheet for Aurora to make a strategic investment in Micron, and for both companies to collaborate on the optimization of Micron's technology for the treatment of organic waste generated in the cultivation and production of cannabis products.
Micron has developed a new technology, based on aerobic digestion and subsequent treatment, that converts organic waste into clean water that meets municipal effluent discharge standards. The effluent from currently available digester-based treatment systems of organic waste does not meet municipal discharge standards and requires costly further treatment. Many generators of organic waste elect, instead, to use municipal landfill sites for their organic waste, which is costly and has a negative impact on the environment. The merits of Micron's technology have been successfully demonstrated with a grocery supermarket chain located in British Columbia, Canada, and Micron has entered into an Memorandum of Understanding with the group to plan for additional installation of Micron's organic waste digester units at other locations in BC.
Collaboration Agreement
Under the terms of the agreement, which the companies anticipate finalizing soon, Micron will install its technology at one of Aurora's cultivation facilities, where both companies will work on optimizing Micron's digester technology to deliver a commercially-ready design specifically for the cannabis industry.
Aurora shall have the option, upon successful completion of the optimization program and proven viability, to sign a definitive supply agreement with Micron for the purchase of Micron's organic waste digestion solution for each of its cultivation facilities at a preferred pricing structure.
In consideration of Aurora's participation in the optimization process, and pursuant to the terms of a royalty agreement to be entered into between the parties, Micron shall pay to Aurora a royalty equal to 4% of gross revenues generated by Micron from the sale, lease and/or support services agreement pertaining to digesters sold to companies in the business of cultivating or processing cannabis. Micron shall retain all intellectual property pertaining to its digestion system.
Strategic investment & Investor Rights Agreement
Under the terms of the agreement, once finalized, Aurora will have the right to subscribe for up to 6,000,000 shares of Micron at a subscription price of $0.34 per share for aggregate subscription proceeds of $2,040,000 million in accordance with the terms and conditions of a subscription agreement to be entered into among the parties, representing a 9% interest in the Corporation on a non-diluted basis immediately post-investment. Upon the first successful sale of a digester within the cannabis industry, Micron shall issue a further 2 million shares to Aurora.
Aurora shall have the right to participate in any future offerings of equity or debt convertible into equity of Micron to allow Aurora not to be diluted in its ownership interest of Micron.
Management Commentary
"The investment in and collaboration with Micron reflect our commitment to innovation in the cannabis sector, aimed in this case at achieving improved operational economics, as well as a superior, 'greener' approach to organic waste management," said Terry Booth, CEO of Aurora. "The treatment and disposal of organic waste in the cannabis industry is a time consuming and costly exercise that is subject to strict regulation by Health Canada. Micron's solution promises to be a very elegant, highly efficient and low-cost alternative that will also have a positive impact on the environment. In making this investment, we anticipate benefiting not only from the positive impact on our operations, but also by being exposed to the upside potential of Micron's commercial development. We look forward to collaborating with Micron in furthering the market reach of this very promising technology."
Rav Mlait, CEO of Micron, added, "We are delighted to partner with the cannabis industry's innovation leader and enter the remarkably dynamic, fast-growing cannabis sector. Furthermore, Aurora's investment provides additional funds to accelerate diversification into other sectors, such as supermarkets, quick-serve restaurants, agricultural operations and hotels, which are all faced with high organic waste disposal costs. While our goal has always been to deliver solutions that have a positive impact on the environment, the only way to truly make a difference is by having a value proposition that provides a strong commercial rationale for adoption. We have proven that we have such a solution through our demonstration project in Richmond, BC, and are well positioned to execute on our aggressive growth strategy."
About Aurora
Aurora's wholly-owned subsidiary, Aurora Cannabis Enterprises Inc., is a licensed producer of medical cannabis pursuant to Health Canada's Access to Cannabis for Medical Purposes Regulations ("ACMPR"). The Company operates a 55,200 square foot, state-of-the-art production facility in Mountain View County, Alberta, known as "Aurora Mountain", a second 40,000 square foot high-technology production facility known as "Aurora Vie" in Pointe-Claire, Quebec on Montreal's West Island, and is currently constructing an 800,000 square foot production facility, known as "Aurora Sky", at the Edmonton International Airport, as well as is completing a fourth facility in Lachute, Quebec through its wholly owned subsidiary Aurora Larssen Projects Ltd.
In addition, the Company holds approximately 17.23% of the issued shares in leading extraction technology company Radient Technologies Inc., based in Edmonton, and is in the process of completing an investment in Edmonton-based Hempco Food and Fiber for an ownership stake of up to 50.1%. Furthermore, Aurora is the cornerstone investor with a 22.9% stake in Cann Group Limited, the first Australian company licensed to conduct research on and cultivate medical cannabis. Aurora also owns Pedanios, a leading wholesale importer, exporter, and distributor of medical cannabis in the European Union, based in Germany. The Company offers further differentiation through its acquisition of BC Northern Lights Ltd. and Urban Cultivator Inc., industry leaders, respectively, in the production and sale of proprietary systems for the safe, efficient and high-yield indoor cultivation of cannabis, and in state-of-the-art indoor gardening appliances for the cultivation of organic microgreens, vegetables and herbs in home and professional kitchens. Aurora's common shares trade on the TSX under the symbol "ACB".
About Micron Waste Technologies Inc.
Micron Waste Technologies Inc is a well funded technology company. The Company's organic waste digestion system is designed to manage organic waste on-site, converting it into clean water. The Company's aerobic digester has micro-oxygen cubicles technology to enhance the digestion efficiency of microorganisms by up to 95%, with the remaining 5% of undigested particles undergoing further treatment, resulting in clean water effluent that meets municipal effluent discharge standards. Micron's technology is an ideal solution to handle organic waste on-site in view of the drive for further cost efficiencies, as well as ever stricter legislation being implemented to prohibit organic waste from entering landfill sites around the world. Please visit our website at www.micronwaste.com for further information. Micron is a public company with listings on the CSE: MWM, OTC: MICWF, and in Frankfurt: 7FM2.
On behalf of the Boards of Directors,
AURORA CANNABIS INC.
Terry Booth
CEO
MICRON WASTE TECHNOLOGIES INC.
Rav Mlait
CEO
This news release includes statements containing certain "forward-looking information" within the meaning of applicable securities law ("forward-looking statements"), including, but not limited to, statements with respect to the completion of the optimization process and the performance of the Aurora and Micron. Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Aurora and Micron are under no obligation, and expressly disclaim any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
Neither TSX or CSE, nor their Regulation Services Provider (as that term is defined in the policies of Toronto Stock Exchange and the CSE) accept responsibility for the adequacy or accuracy of this release.
Medicine Man Closes $1.54M Equity Financing Round
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/12/19/MDCL-Medicine-Man-Closes-154M-Equity-Financing-Round
DENVER, CO / ACCESSWIRE / December 19, 2017 / Medicine Man Technologies Inc. (OTC:MDCL), one of the United States' leading cannabis branding and consulting companies today announced the closing of an equity raise sold only to accredited investors that yielded aggregate proceeds of $1.54 million. The Company issued a total of 1,448,140 units priced at $1.0665 per Unit. Each Unit consisted of one share of common stock and one eighteen-month warrant exercisable to purchase one share of common stock at an exercise price of $1.33 per share. There were no broker commissions, placement agent fees, or other fees paid in connection with this offering. Medicine Man Technologies plans to use a small portion of the proceeds from the offering to repay its remaining convertible debt.
Jonathan Sandburg, Medicine Man Technologies' Chief Financial Officer stated, "We are pleased to have completed this transaction with accredited investors and to have retained full raise proceeds as a result of not utilizing intermediary agents. With this financing complete, we have sufficient capital to retire our remaining convertible debt totaling approximately $251,000 at year end as well as to invest in our near-term growth initiatives well into 2018 as we work achieve sustainable profitability."
Brett Roper, Medicine Man Technologies' Chief Executive Officer noted, "During 2017, Medicine Man Technologies has grown its client base substantially both in the United States and internationally, completed and integrated three acquisitions, and grew its revenue by more than 300 percent over the first three quarters of the year compared with the same period in 2016. We have also expanded our team to 20 full-time team members, compared to just 4 at this same time last year. Most importantly, our successful evolution has included the launch of several new products and services including Cultivation Max, which we expect to drive recurring revenue growth opportunities and enable the continued delivery of high quality services to our expanding client base. I am very pleased with our performance thus far in 2017, and look forward to even stronger performance in 2018 and beyond."
About Medicine Man Technologies, Inc.
Established in March 2014, the Company secured its first client/licensee in April 2014. To date, the Company has provided guidance for several clients that have successfully secured licenses to operate cannabis businesses within their state. The Company currently has 63 active clients in California, Oregon, Colorado, Nevada, Illinois, Michigan, Arkansas, Pennsylvania, Florida, Ohio, Maryland, Massachusetts, Puerto Rico, Australia, Canada, Germany, and South Africa. We continue to focus on working with clients to 1) utilize its experience, technology, and training to help secure a license in states with newly emerging regulations, 2) deploy the Company's highly effective variable capacity constant harvest cultivation practices through its deployment of Cultivation MAX, and eliminate the liability of single grower dependence, 3) avoid the costly mistakes generally made in start-up, 4) stay engaged with an ever expanding team of licensees and partners, all focused on quality and safety that will "share" the ever-improving experience and knowledge of the network, and 5) continuing the expansion of its Brands Warehouse concept.
Safe Harbor Statement
This press release may contain forward looking statements which are based on current expectations, forecasts, and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected, including statements related to the amount and timing of expected revenues and any payment of dividends on our common and preferred stock, statements related to our financial performance, expected income, distributions, and future growth for upcoming quarterly and annual periods. These risks and uncertainties are further defined in filings and reports by the Company with the U.S. Securities and Exchange Commission (SEC). Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors detailed from time to time in our filings with the Securities and Exchange Commission. Among other matters, the Medicine Man Technologies may not be able to sustain growth or achieve profitability based upon many factors including, but not limited to, general stock market conditions. Reference is hereby made to cautionary statements set forth in the Company's most recent SEC filings. We have incurred and will continue to incur significant expenses in our expansion of our existing and new service lines, noting there is no assurance that we will generate enough revenues to offset those costs in both the near and long term. Additional service offerings may expose us to additional legal and regulatory costs and unknown exposure(s) based upon the various geopolitical locations where we will be providing services, the impact of which cannot be predicted at this time.
Organigram Holdings Appoints New CFO
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/12/19/OGI-OGRMF-Organigram-Appoints-New-Chief-Financial-Officer
MONCTON, NB, Dec. 19, 2017 /CNW/ - Organigram Holdings Inc. (TSXV:OGI) (OTC:OGRMF) (the "Company" or "Organigram"), a leading licensed producer of medical marijuana based in Moncton, New Brunswick, is pleased to announce the appointment of Paolo De Luca, CPA, CA, CFA as the Company's Chief Financial Officer (CFO). Mr. De Luca will assume the position effective December 19, 2017.
With a reputation for creative, high-energy leadership focused on the growth of dynamic companies, Mr. De Luca regularly draws upon his broad global experience and deep technical expertise to deliver unique and nontraditional financial solutions to complex issues supported by his sophisticated knowledge of capital markets, finance, technical accounting, tax and regulatory matters.
"Paolo is a tremendous addition to the Organigram team," says Greg Engel, CEO, Organigram. "His wide-ranging experience in both public and private capital markets, proven track record of successful financial stewardship and negotiations, and transformational vision will be an asset to the Company as we transition from a strictly medical enterprise into a hybrid business including the adult recreational use market in 2018."
With more than 20 years of diversified financial business experience, Mr. De Luca has held senior financial, investor relations, and accounting leadership roles at companies including West Face Capital, one of Canada's leading alternative asset management firms; Meridian LNG; Potash Ridge; C.A. Bancorp; and TD Securities. With this diverse industry and international background, he has extensive experience with both traditional and non-traditional financing and debt offerings, which will be a tremendous asset to Organigram.
As Organigram CFO, Mr. De Luca will lead both the finance team as well as the investor relations efforts of the Company and will be based out of the Company's satellite office in Toronto while managing the finance team in Moncton, NB.
Mr. De Luca is a graduate of York University's Schulich School of Business.
Peter Hanson has been serving as interim CFO since March 2016. Mr. Hanson will be appointed as Director of Finance with Organigram and the Company is grateful for his stewardship.
Additionally, Giselle Doiron, formerly Director of Investor and Media Relations at Organigram has accepted a new role within the Company in Human Resources. Investor relations inquiries will be handled by Dylan Rogers, Investor Relations Analyst at investorrelations@organigram.ca.
For more information, visit www.organigram.ca
About Organigram Holdings Inc.
Organigram Holdings Inc. is a TSX Venture Exchange listed company whose wholly owned subsidiary, Organigram Inc., is a licensed producer of medical marijuana in Canada. Organigram is focused on producing the highest quality, condition specific medical marijuana for patients in Canada. Organigram's facility is located in Moncton, New Brunswickand the Company is regulated by the Access to Cannabis for Medical Purposes Regulations ("ACMPR").
Organigram has been ranked in the top ten Clean Technology & Life Sciences Sector on the TSX Venture Exchange 50.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking information which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectations. Important factors - including the availability of funds, consummation of definitive documentation, the results of financing efforts, crop yields - that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Stony Hill (STNY:OTC) adds to advisory board as advisor-linked company makes moves
Source: https://equity.guru/2017/12/15/stony-hill-stnyotc-adds-advisory-board-advisor-linked-company-makes-moves/
Sometimes when a public company is being quiet, the only way to figure out what they’re up to is to connect dots and assess risk. Stony Hill Corporation (STNY.OTC) is one company in that category.
The US-based weed play, with music star and Jay-Z support act Damian “Jr Gong” Marley at the helm, has a low profile, especially among Canadian investors, as it quietly grabbed a piece of the recent $70 million High Times Magazine acquisition, opened a Colorado dispensary, and has gathered a group of advisors that have serious pharma background.
The star power of its Bob Marley-bred director notwithstanding, who named his recent hit album after the company, Stony Hill isn’t what you might expect of an OTC weed play. It doesn’t claim billions in future revenues, it doesn’t so weird deals with weird companies designed to crank a market cap. It acts like a vertical integrator, snapping up assets without fanfare, putting together a puzzle that will only become clear when it’s done.
While I can appreciate a lack of over-hype and false promises, my struggle with STNY, and the reason it has traded lightly, is that it’s moving silently, like a submarine stalking destroyers, while the market (especially the OTC) obviously loves a loudmouth.
It’s an odd thing for an OTC play, especially one in weed, to not blurt out a million promises to anyone who’ll listen, but STNY has been especially stingy with its news. Indeed, when it added to its advisory board recently, there was no news release announcing it, though the addition was a solid one.
Dr Raymond Urbanski is the is Chief Medical Officer at GT Biopharma, the $250 million NASDAQ pharma group that is focused on “targeting multiple myeloma, triple-negative breast cancer, non-Hodgkin’s lymphoma and more with highly potent biopharmaceutical drugs designed for targeted therapy.”
Urbanski oversees the development of products in the GTBP pipeline so, my first thought, when I saw this addition on the Stony Hill bio pages, was, “Ah ha! Is there a GTBP-STNY connection coming?”
If there was, it would explain why STNY is so quiet. When you’re doing a deal with a bigger player, you kind of shut the hell up until the ink is dry on a deal. But I couldn’t find any indication there was anything going on there.
So I looked deeper.
“Previously, he served as Chief Medical Officer and Senior Director of oncology research and development at Pfizer Inc. (PFE:NYSE).
Holy crap! A Pfizer connection would be lights out on this stock, if there were any indication of a deal in place. But, nothing I could find there either.
Deeper still.
He served as CMO of Mylan Inc, Senior Director of US Medical Affairs for AventisCMO at Cymabay Therapeutics/Metabolex, CMO and VP for Research and Development at Suntory Pharmaceutical, he’s been at Aventis and AstraZeneca… It’s a hell of a resume.
But there was one connection that made me seriously think about possibilities.
Urbanski only recently joined GTBP, but previously served as the Chief Medical Officer of MannKind Corp. from 2015 until recently, as its Corporate Vice President.
From his bio, “Dr. Urbanski led MannKind’s overall drug development activities and is a member of the Executive Leadership Team.”
So let’s go see what Mannkind has been up to recently.
REST OF ARTICLE: https://equity.guru/2017/12/15/stony-hill-stnyotc-adds-advisory-board-advisor-linked-company-makes-moves/
Innovative Industrial Properties Completes Arizona Acquisition
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/12/18/Innovative-Industrial-Properties-Completes-Arizona-Acquisition
SAN DIEGO--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (the “Company”) (NYSE: IIPR), the leading provider of creative real estate capital solutions to the medical-use cannabis industry, announced today that it closed on the previously announced acquisition of the property located at 5900 West Greenhouse Drive in Willcox, Arizona, which comprises approximately 358,000 square feet of greenhouse and industrial space.
As previously disclosed, the purchase price for the property was $15.0 million. A subsidiary of The Pharm, LLC (“The Pharm”), the tenant at the property, is also expected to complete tenant improvements for the building, for which the Company has agreed to provide reimbursement of up to $3.0 million (the "TI Allowance"). Assuming full reimbursement for the tenant improvements, the Company’s total investment in the property will be $18.0 million. The Pharm is one of the largest wholesalers of medical-use cannabis in the state of Arizona.
Concurrent with the closing of the purchase, the Company entered into a long-term, triple-net lease agreement with a subsidiary of The Pharm, which intends to continue to operate the property as a medical-use cannabis cultivation and processing facility in accordance with Arizona medical-use cannabis regulations. The initial term of the lease is 15 years, with two options to extend the term for two additional five-year periods. The lease provides for an initial annualized aggregate base rent of $2,520,000, payable monthly, which is equal to 14% of the sum of the purchase price of the property and the TI Allowance, subject to an initial partial base rent abatement. The aggregate base rent is subject to 3.25% annual increases during the term of the lease, and The Pharm subsidiary is also responsible for paying the Company a property management fee equal to 1.5% of the then-existing aggregate base rent. In connection with the execution of the lease, The Pharm subsidiary also deposited with the Company a security deposit of $630,000.
“We are very pleased to introduce The Pharm as our newest tenant, and to be able to creatively structure a real estate transaction to meet their capital needs for planned expansion in the Arizona market and beyond,” said Ben Regin, Director of Investments and Finance of the Company. “We believe that The Pharm's highly experienced, multi-disciplinary management team is well positioned to continue to grow its market share in a rapidly expanding Arizona medical-use cannabis market, in addition to carrying its highly successful program to new markets in other states. We look forward to working with The Pharm and supporting their real estate needs for many years to come.”
“Innovative Industrial Properties collaborated with us closely throughout this transaction, providing creative solutions to address our specific capital needs,” said Randy Smith, Founder and Chief Executive Officer of The Pharm. “We are thrilled to have a great real estate partner like Innovative Industrial Properties that provides us the key capital we need to drive our strong growth and execution on strategic priorities.”
About Innovative Industrial Properties
Innovative Industrial Properties, Inc. is a self-advised Maryland corporation focused on the acquisition, ownership and management of specialized industrial properties leased to experienced, state-licensed operators for their regulated medical-use cannabis facilities. Innovative Industrial Properties, Inc. intends to elect to be taxed as a real estate investment trust. Additional information is available at www.innovativeindustrialproperties.com.
Innovative Industrial Properties Forward-Looking Statements
This press release contains statements that the Company believes to be “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than historical facts, including, without limitation, statements regarding the lease of the Arizona property, The Pharm and the Arizona medical-use cannabis market, are forward-looking statements. When used in this press release, words such as we “expect,” “intend,” “plan,” “estimate,” “anticipate,” “believe” or “should” or the negative thereof or similar terminology are generally intended to identify forward-looking statements. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in, or implied by, such statements. Investors should not place undue reliance upon forward-looking statements. The Company disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Canopy to Convert Tomato Greenhouse for Quebec Cannabis Production
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/12/18/WEED-TWMJF-Canopy-to-Convert-Tomato-Greenhouse-for-Quebec-Cannabis-Production
MIRABEL, QC, Dec. 18, 2017 /CNW/ - Canopy Growth Corporation (TSX:WEED) ("Canopy Growth" or the "Company") and Canopy Rivers Corporation ("Canopy Rivers") are pleased to announce a definitive joint venture agreement to form a new company, Les Serres Vert Cannabis Inc. ("Vert Mirabel"), together with Les Serres Stéphane Bertrand Inc. ("Bertrand"), a large-scale tomato greenhouse operator in Mirabel, Quebec.
Bertrand currently produces tomatoes and other vegetables under 700,000 sq. ft. of modern greenhouse, most of which was built in 2015. The entire greenhouse will be upgraded and retrofitted for cannabis production by April 2018. With the assistance and guidance of Canopy Growth, the application for this site has been submitted; and subject to Health Canada and other standard regulatory approvals, the Company anticipates being ready to begin production by May 2018.
Under the terms of the agreement, Vert Mirabel will, subject to satisfaction of certain conditions, lease the 700,000 sq. ft. greenhouse facility from Bertrand. Vert Mirabel will also be provided with an option to acquire the property.
Vert Mirabel significantly supplements Canopy Growth's industry leading production portfolio and positions the company well in Quebec, Canada's second largest province.
"The joint venture allows us to expand our operational footprint for greenhouse production, and establish a much larger foothold in Quebec," said Bruce Linton, Chairman and Chief Executive Officer, Canopy Growth. "The fusion of Canopy's cannabis expertise with the greenhouse expertise of Les Serres Stéphane Bertrand is fantastic news for our customers and investors."
The greenhouse holds a valid Ecocert "organic" certification. Bertrand has produced organic tomatoes from the existing infrastructure and can apply their farming expertise to cannabis production in order to grow organic cannabis flowers. Vert would be the first Canopy family of brands to carry organically produced cannabis, another value-add differentiator to the industries most diverse house of brands.
As consideration for entering into and operating Vert Mirabel, Canopy Growth will, based upon various milestones and subject to required regulatory and stock exchange approvals, issue Bertrand $2.75 million of common shares in four equal tranches. To fund the development of Vert Mirabel, Canopy Rivers will contribute, in multiple tranches, an aggregate of $15 million in cash (of which $750,000 was advanced at closing), in exchange for Class A Preferred Shares with cumulative preferred dividends. In addition, Canopy Growth has agreed to purchase from Vert Mirabel all of the cannabis produced during an initial term. Canopy Growth and Canopy Rivers, combined, own 66.7% of Vert Mirabel, with Bertrand holding the remaining 33.3%.
Bertrand brings multi-generational knowledge of greenhouse operations and is currently the largest producer of Pink Tomatoes in North America. Bertrand is an experienced large scale, low cost, high-technology, hydroponic greenhouse operator, with industry leading food safety, traceability and compliance expertise, and a growing focus on organic production methods. Bertrand also brings tier one assets and a highly experienced operations team.
Canopy Growth is committed to building an international business with a strong national platform while supporting the local communities where it operates through job creation, meaningful stakeholder engagement, and local economic opportunity.
Media are invited to attend a press conference in the Boutique at Les Serres Bertrand with Stéphane Bertrand, CEO, and Adam Greenblatt, Quebec Brand Manager for Canopy Growth, on December 18th, 2017 from 11 am – 12 pm. Location: 11730 Route Sir Wilfrid Laurier, Mirabel, QC J7N 1P5.
Poussons vert l'avenir
About Canopy Growth Corporation
Canopy Growth is a world-leading diversified cannabis and hemp company, offering distinct brands and curated cannabis varieties in dried, oil and Softgel capsule forms. From product and process innovation to market execution, Canopy Growth is driven by a passion for leadership and a commitment to building a world-class cannabis company one product, site and country at a time.
Canopy Growth has established partnerships with leading sector names including cannabis icon Snoop Dogg, breeding legends DNA Genetics and Green House seeds, and Fortune 500 alcohol leader Constellation Brands, to name but a few. Canopy Growth operates seven cannabis production sites with over 665,000 sq. ft. of production capacity, including over 500,000 sq. ft. of GMP-certified production space. The Company has operations in seven countries across four continents. The Company is proudly dedicated to educating healthcare practitioners, conducting robust clinical research, and furthering the public's understanding of cannabis, and through its partly owned subsidiary, Canopy Health Innovations, has devoted millions of dollars toward cutting edge, commercializable research and IP development. Through partly owned subsidiary Canopy Rivers Corporation, the Company is providing resources and investment to new market entrants and building a portfolio of stable investments in the sector. From our historic public listing to our continued international expansion, pride in advancing shareholder value through leadership is engrained in all we do at Canopy Growth. For more information visit www.canopygrowth.com
Notice Regarding Forward Looking Statements
This news release contains forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Canopy Growth Corporation, its subsidiaries, or its affiliates to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Examples of such statements include future operational and production capacity, the impact of enhanced infrastructure and production capabilities, and forecasted available product selection. The forward-looking statements included in this news release are made as of the date of this news release and Canopy Growth Corporation does not undertake an obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless required by applicable securities legislation.
Neither the TSX Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Exchange) accepts responsibility for the adequacy or accuracy of this release.
Supreme Purchases Adjacent Land for Ultra-Premium Cannabis Facility
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/12/18/FIRE-SPRWF-Supreme-Purchases-Adjacent-Land-for-Ultra-Premium-Cannabis-Facility
TORONTO, Dec. 18, 2017 /CNW/ - Supreme Pharmaceuticals Inc. ("Supreme or the "Company") (TSXV:FIRE) is pleased to announce the purchase of an approximately six acre property adjacent to the 7ACRES facility in Kincardine, Ontario. Supreme expects to build an indoor cultivation facility ("Lot 16") to produce high quality, "California-Style" cannabis for the premium product segment.
Supreme is currently in the design phase of the project and intends to break ground in the summer of 2018. The Company intends to complete the project by the end of 2019. Supreme anticipates that Lot 16, once fully operational and subject to licensing by Health Canada, will produce 10,000 kg per year of premium "California-Style" indoor cannabis. Supreme intends on using lighting, HVAC and irrigation infrastructure ideally suited to cultivating premium cannabis cultivars. Lot 16 is expected to employ Supreme's proprietary post-harvest processes to produce dried cannabis flower that is slow-dried, artisanal cured and finished by hand. Supreme intends to market the Lot 16 dried cannabis flower as an ultra-premium consumer product and pursue favorable pricing economics with current and future retail partners. Supreme acquired the Lot 16 land for $1,927,200.
"Supreme's goal is to be synonymous with quality and a leader in the premium segment for cannabis flower," said John Fowler, CEO of Supreme. "Since inception, we have been resolute in our belief that cannabis consumers are quality driven and willing to pay a premium for cannabis flowers with exceptional qualities. We believe the premium product segment for dried flower will be significantly under-supplied in Canada given the industry focus on low-cost cannabis and traditional greenhouse infrastructure. Lot 16 represents the next step in the development of our Kincardine Campus, and additional progress towards Supreme being a dominant player in the premium segment for dried cannabis flower in Canada."
John Fowler, CEO and Director
About Supreme
Supreme is a Canadian publicly traded company committed to becoming a leading cultivator and distributor of sun grown cannabis through its wholly-owned subsidiary 7ACRES. 7ACRES is a federally licensed producer of medical cannabis pursuant to the ACMPR operating inside a 342,000 sq. ft. Hybrid Greenhouse facility. The Hybrid Greenhouse combines the best technology of indoor production with the efficiencies and sustainability of a greenhouse, in a single large-format production footprint. Please visit www.supreme.ca and www.7acres.com for more information.
Forward-Looking Information
Certain statements made in this press release may constitute forward-looking information under applicable securities laws. These statements may relate to anticipated events or results and include, but are not limited to, expectations regarding, the construction and design of the Lot 16 facility, the ability for Supreme to finance the construction of the Lot 16 facility economically, licensing risk relating to the Lot 16 facility, our regulatory environment and potential changes in law generally, expectations regarding our production capacity at the Lot 16 facility, technology and operations and other statements that are not historical facts. Particularly, information regarding our expectations of future results, targets, performance achievements, prospects or opportunities is forward-looking information. Often, but not always, forward-looking statements can be identified by the use of forward-looking terminology such as "may" "will", "expect", "believe", "estimate", "plan", "could", "should", "would", "outlook", "forecast", "anticipate", "foresee", "continue" or the negative of these terms or variations of them or similar terminology. Forward-looking statements are current as of the date they are made and are based on applicable estimates and assumptions made by us at the relevant time in light of our experience and perception of historical trends, current conditions and expected future developments, as well as other factors that we believe are appropriate and reasonable in the circumstances. However, we do not undertake to update any such forward-looking information whether as a result of new information, future events or otherwise, except as required under applicable securities laws in Canada. There can be no assurance that such estimates and assumptions will prove to be correct. Many factors could cause our actual results, level of activity, performance or achievements or future events or developments to differ materially from those expressed or implied by the forward-looking statements, including, without limitation, the factors discussed in the "Risks and Uncertainties" section of the Company's Management's Discussion & Analysis dated November 27, 2017 ("MD&A"). A copy of the MD&A and the Company's other publicly filed documents can be accessed under the Company's profile on the System for Electronic Document Analysis and Retrieval ("SEDAR") at www.sedar.com. The Company cautions that the list of risk factors and uncertainties described in the MD&A is not exhaustive and other factors could also adversely affect its results. Readers are urged to consider the risks, uncertainties and assumptions carefully in evaluating the forward-looking information and are cautioned not to place undue reliance on such information.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Northern Vine Labs Expands Dealer’s License with Health Canada
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/12/15/Northern-Vine-Labs-Expands-Dealer%25E2%2580%2599s-License-with-Health-Canada
VICTORIA, B.C., Dec. 15, 2017 (GLOBE NEWSWIRE) -- Northern Vine Labs (“Company”), a subsidiary of Emerald Health Therapeutics Inc. (“Emerald”) (TSXV:EMH) (OTC:EMHTF) and Abattis Bioceuticals Corp. (“Abattis”) (CSE:ATT) (OTC:ATTBF), today announced that Health Canada has approved an amendment to the Company’s dealer’s license.
The license amendment provides the Company the ability to transport, deliver and sell product to other Licensed Dealers (LD), authorized persons under the Controlled Drug and Substance Act (CDSA), and Licensed Producers (LP). Along with the Company’s already authorized activities for analytical testing, extraction, and import/export, this amendment also allows Northern Vine Labs to broaden its business opportunities through the production and sale of downstream cannabis products.
“This amendment helps expand the business potential of our dealer’s license,” said Avtar Dhillon, MD, Executive Chairman of Emerald. “With the new Proposed Approach to the Regulation of Cannabis released by the Government of Canada, we believe Northern Vine Labs is in a unique position to become a leader in the analytical, international processing, and R&D segments of the cannabis market.”
Northern Vine is a Licensed Dealer under the provisions of the Canadian Controlled Drugs and Substances Act. An LD is permitted to carry out certain business activities that Emerald is not permitted to undertake as an LP under Access to Cannabis for Medical Purpose Regulations (“ACMPR), including the import/export of cannabis and cannabis oils, as well as the manipulation, formulation, dosage form, strength or package size of cannabis, including mixtures with other additives, controlled substances, and non-controlled substances. These opportunities expand possible research and product innovation opportunities for Emerald.
Emerald acquired 53% of Northern Vine from Abattis in November, 2017.
About Emerald Health Therapeutics Inc.
Emerald Health Therapeutics, Inc. (TSXV:EMH) (OTCQX:EMHTF) operates through Emerald Health Botanicals Inc. ("Botanicals"), a wholly owned subsidiary and Licensed Producer under Canada’s Access to Cannabis for Medical Purposes Regulations. Through Botanicals, Emerald is authorized to produce and sell dried medical cannabis flower and medical cannabis oil. It currently operates an indoor facility in Victoria, BC, and is building a 500,000 s.f. greenhouse on 32 acres in Metro Vancouver, with expansion potential to 1 million s.f. to serve the anticipated legal Canadian adult-use cannabis market starting in 2018. Emerald also owns 50% of Pure Sunfarms, a partnership with Village Farms that is converting an existing 1.1 million s.f. greenhouse in Delta, BC from growing tomatoes to growing cannabis. Emerald’s team is highly experienced in life sciences, product development and large-scale agribusiness. Emerald is part of the Emerald Health group, which is broadly focused on developing pharmaceutical, botanical and nutraceutical products designed to provide wellness and medical benefits by interacting with the human body’s endocannabinoid system.
Please visit www.emeraldhealth.ca for more information.
For investor and media contacts:
invest@emeraldhealth.ca
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statements Regarding Forward Looking Information
Certain statements in this press release constitute forward-looking statements, within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, are "forward-looking statements".
We caution you that such "forward-looking statements" involve known and unknown risks and uncertainties that could cause actual and future events to differ materially from those anticipated in such statements.
Forward-looking statements include, but are not limited to, statements with respect to expansion of Emerald’s business; creation of strategic development opportunities; commercial operations; construction or conversion of production facilities; international opportunities for the Company; the Company becoming a leading Canadian supplier of cannabis products; expected timing of any of the above matters; and other information that is based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management.
Emerald Health Therapeutics Inc. does not intend, and does not assume any obligation, to update these forward-looking statements except as required by law. These forward-looking statements involve risks and uncertainties relating to, among other things, failure to obtain regulatory approval for closing of the proposed transaction or to meet the conditions set out in the Agreement; failure of the federal government to approve legislation legalizing sales of non-therapeutic adult-use cannabis; failure to obtain Health Canada and other regulatory approvals; failure to obtain necessary financing; results of production and sale activities; the Company's historical experience with medical marijuana operations; results of scientific research; uninsured risks; regulatory changes; difficulties in construction or in obtaining qualified contractors to complete construction or conversion of facilities; availability of production facilities; timeliness of government approvals and the granting of permits and licenses; changes in prices and costs; actual operating and financial performance of facilities; equipment and processes relative to specifications and expectations; as well as the other risk factors set out in the Company’s annual information form and other filings with the applicable Canadian securities regulators, which may be viewed at www.sedar.com. Actual results may differ materially from those expressed or implied by such forward-looking statements.
Isodiol Acquires Rights to Produce Products Under Delivery System Patent
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/12/15/ISOL-ISOLF-Isodiol-Acquires-Rights-to-Produce-Products-Under-Delivery-System-Patent
VANCOUVER, British Columbia, Dec. 15, 2017 (GLOBE NEWSWIRE) -- Isodiol International Inc. (CSE:ISOL) (OTC:ISOLF) (FSE:LB6A.F) (the “Company” or “Isodiol”), a global Bioactive Phytoceutical innovator specializing in the development of pharmaceutical and nutraceutical products, announced today that its division, C3 Global Biosciences (C3GBS) has agreed in principle to acquire the rights to become the exclusive worldwide distributor of Advanced Brain Monitoring’s (ABM) Electroencephalogram (EEG) technology in the phytoceutical field, specifically the cannabis community.
For the last 15 years, ABM has challenged conventional thinking by developing innovative medical devices that provide superior patient experience, lower healthcare costs, and improved quality of care. With this versatile, state of the art wireless EEG system, interpretation of physiological signals across a wide variety of real-world applications are finally here. The EEG system will allow physicians and researchers real-time feedback on the effect of Cannabis products. The EEG device is reimbursable and has designated CPT codes for physicians to submit to health insurance companies.
Andrew Serafini, C3GBS President, says, “The need to fast-track and bring to market therapeutic novel compounds that possess great potential in human diseases have a need for an FDA-approved drug validation technology that should become mandatory. The cannabis industry lacks verification methodologies and C3GBS is excited to bring the EEG technology to the forefront to help further discover the benefits in real time. This will invariably result in evidence-based data gathering to help support and guide the healthcare practitioner.”
“This is another monumental step taken by Isodiol and C3GBS to be the global leader in cannabis research, science, innovation, and technology to positively impact patient outcomes. The EEG system offers another diagnostic tool, that is FDA approved, to help understand how cannabis is beneficial to the human body,” added Isodiol CEO, Marcos Agramont.
For more information on Isodiol, please visit www.isodiol.com
About Isodiol International Inc.
Isodiol International Inc. is the market leader in pharmaceutical and nutraceutical grade phytochemical compounds and the industry leader in the manufacturing and development of phytoceutical consumer products.
Isodiol is the pioneer of many firsts for the cannabis industry including commercialization of 99%+ pure, bioactive pharmaceutical grade cannabinoids, micro-encapsulations, and nanotechnology for the highest quality consumable and topical skin care products.
Isodiol's growth strategy includes the development of over-the-counter and pharmaceutical drugs, expanding its phytoceutical portfolio and will aggressively continue international expansion into Latin America, Asia, and Europe.
Forward-Looking Information: This news release contains "forward-looking information" within the meaning of applicable securities laws relating to statements regarding the Company's business, products and future of the Company’s business, its product offerings and plans for sales and marketing. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned to not place undue reliance on forward-looking information. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance and developments to differ materially from those contemplated by these statements depending on, among other things, the risks that the Company's products and plan will vary from those stated in this news release and the Company may not be able to carry out its business plans as expected. Except as required by law, the Company expressly disclaims any obligation and does not intend, to update any forward-looking statements or forward-looking information in this news release. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct and makes no reference to profitability based on sales reported. The statements in this news release are made as of the date of this release.
The CSE has not reviewed, approved or disapproved the content of this press release.
Lexaria Bioscience Announces Cannabinoid Topical Research
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/12/15/LXX-LXRP-Lexaria-Bioscience-Announces-Cannabinoid-Topical-Research
KELOWNA, BC / ACCESSWIRE / December 15, 2017 / Lexaria Bioscience Corp. (OTC:LXRP) (CSE:LXX) (the "Company" or "Lexaria"), a drug delivery platform innovator, announces a new topical skin cream research and development ("R&D") program; R&D into nicotine edibles; and updates existing R&D programs.
Topical Skin Formulations for Cannabinoids.
Lexaria has formulated topical cream products as an extension of its DehydraTECH™ technology, for the delivery of cannabinoids into and through the skin which may prove to have emollient benefits desired by the topical products sector. Lexaria's president, John Docherty M.Sc., has extensive experience as a biotech company executive and researcher for skin-based delivery of therapeutics.
Multiple Lexaria formulations are scheduled to be laboratory tested for human skin absorption and penetration characteristics during January through March 2018. Testing will be completed at a third-party lab utilizing human skin tissue and the latest in vitro evaluative techniques to measure cannabidiol penetration in the skin. Lexaria expects to optimize formulation and manufacturing processes to develop superior-performing product designs that will potentially be available to licensees during 2018.
Nicotine in Edible Formats.
Lexaria has accelerated its research focus on nicotine following its recently announced nicotine patent grant and has been researching edible forms of nicotine which could use the Company's DehydraTECH™ technology. Formulations have been prepared and are currently completing quality control testing, prior to in vivo absorption and tolerability testing in animals.
A third-party Philadelphia based lab has been contracted to perform the first nicotine edible tests expected in February. In vivo testing with rats will examine two main outcomes:
1) Gastrointestinal distress. Without an enabling technology, untreated nicotine causes gastrointestinal upset and distress making nicotine edibles impractical. The DehydraTECH™ process will be evaluated for its ability to lessen gastrointestinal distress thus potentially opening the door to the creation of a new line of consumer products.
2) Absorption time and efficiency in crossing the intestinal wall and reaching the bloodstream. Earlier testing of the DehyrdaTECH™ process using cannabidiol as an active ingredient, proved reduced absorption times and enhanced intestinal permeability. It is expected that similar outcomes using nicotine may be experienced.
University of British Columbia (UBC) TurboCBD™ Study.
As previously announced, the UBC study was initiated with UBC board evaluation and approvals. However, a recent change in UBC policy has resulted in all MITACS/UBC studies of this class to be temporarily halted. This change in policy affects numerous studies at UBC. Lexaria is currently reviewing methods of modifying the contemplated UBC study and/or alternatives to complete the planned study objectives at UBC or elsewhere if necessary and will report on next steps when they are known.
National Research Council.
The National Research Council and Lexaria have successfully developed model formulations using the DehydraTECH™ process and methodology. Following this completed first phase, the parties now plan to formulate and test DehydraTECH™ based cannabinoid formulations in early 2018 to determine the inherent processes that enable the palatability and absorption benefits DehydraTECH™ formulations have demonstrated. This second phase is expected to be performed with cannabinoids for the first time to provide additional guidance for further study.
Formulation Experimentation.
Lexaria has conducted various cannabinoid formulation experiments, together with potential DehydraTECH™ licensee partners, on chocolates, candies, gummies, mouth-melts, chocolate bars, protein bars, beverages such as beer, spices, tea, coffee, supplements and more.
Beverage formulations have produced cannabinoid water-based products including de-alcoholized beer that mask unwanted cannabis flavor and are fast acting. Chocolate formulations were reported as being the fastest acting, most consistent, and best-tasting products in approximately 70% of cases in a recent consumer study. As the recreational markets for cannabis become legal in California and Canada, Lexaria expects increased demand for its superior-performing edible products. Its formulations further allow clients to retain organic food claims as the DehydraTECH™ process does not use any chemicals.
Lexaria will work with new and improved formulations for a variety of food products on a continuous basis throughout 2018 as it broadens its ever growing universe of products under development for potential licensees. This should shorten the technology licensing sales cycle and also assist companies as they collaborate with Lexaria to develop and sell the highest-performing products in their respective sales categories.
About Lexaria
Lexaria Bioscience Corp. has developed and out-licenses its disruptive delivery technology that promotes healthier ingestion methods, lower overall dosing and higher effectiveness of lipophilic active molecules. Lexaria has multiple patents pending in over 40 countries around the world and has patents granted in the USA and in Australia for utilization of its DehydraTECHTM delivery technology. Lexaria's technology provides increases in intestinal absorption rates; more rapid delivery to the bloodstream; and important taste-masking benefits, for orally administered bioactive molecules including cannabinoids, vitamins, non-steroidal anti-inflammatory drugs (NSAIDs), nicotine and other molecules.
FORWARD-LOOKING STATEMENTS
This release includes forward-looking statements. Statements which are not historical facts are forward-looking statements. The Company makes forward-looking public statements concerning its expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including statements that include words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements, including but not limited to: that any additional stock warrants or stock options will be exercised. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition, the patent application and approval process and other factors which may be identified from time to time in the Company's public announcements and filings. There is no assurance that existing capital is sufficient for the Company's needs or that it will be able to raise additional capital. There is no assurance that Lexaria will successfully complete any other contemplated or existing technology license agreements; or that results from any studies will be favorable or in any way support future business activities of any kind. Scientific R&D is often unpredictable and unanticipated results could emerge from any study and have a material impact. There is no assurance that any planned corporate activity, scientific study, R&D, business venture, or initiative will be pursued, or if pursued, will be successful. There is no assurance that any of Lexaria's postulated uses, benefits, or advantages for the patented and patent-pending technology will in fact be realized in any manner or in any part. No statement herein has been evaluated by the Food and Drug Administration (FDA). Lexaria Energy Foods, Ambarii, DehydraTECHTMtechnology and ViPovaTM products are not intended to diagnose, treat, cure or prevent any disease.
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Friday Night's Canna Hemp Product Line Receives Initial Orders from CA Retailers
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/12/15/TGIF-Friday-Nights-Canna-Hemp-Product-Line-Receives-Initial-Orders-from-CA-Retailers
VANCOUVER, BC / ACCESSWIRE / December 15, 2017 / Friday Night Inc. (Friday Night) (CSE:TGIF) (FWB:1QF) (OTC:TGIFF) is pleased to announce that its Canna Hemp product line is now being sold to cannabis dispensaries and other retail outlets in the State of California.
Canna Hemp has received multiple purchase orders from several California retailers. This is the first step Friday Night has taken to expand its brand into the California cannabis market.
California is estimated to become one of the largest Cannabis markets in the world, as adult-use cannabis sales start in January of 2018. California is home to 40 million people and has 165 million visitors a year.
Canna Hemp's Director of Operations, Chris Rebentisch commented, "Getting our Canna Hemp brand into the California market is an important step at penetrating the rest of the USA. California is anticipated to be the hub for nationwide cannabis brands."
About Friday Night Inc.
Friday Night Inc. is a Canadian public company, which owns and controls cannabis and hemp based assets in Las Vegas Nevada. The company owns 91% of Alternative Medicine Association, LC (AMA), a licensed medical and adult-use cannabis cultivation and production facility that produces its own line of unique cannabis-based products and manufactures other third-party brands. Infused MFG, also a 91% owned subsidiary, produces hemp-based, CBD products, thoughtfully crafted of high quality organic botanical ingredients. Friday Night Inc. is focused on strengthening and expanding these operations within and outside of the state.
For further information please contact:
Joe Bleackley, Corporate Communications
604-674-4756
Joe@FridayNightInc.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Notice Regarding Forward Looking Statements: This news release contains forward-looking statements. The use of any of the words "anticipate," "continue," "estimate," "expect," "may," "will," "project," "should," "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this news release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including, inability to attract new customers in Nevada as a result of the license, the inability of the Company to take advantage of the license arrangement and various risk factors discussed in the Company's disclosure documents, which can be found under the Company's profile on www.sedar.com. Friday Night undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law or the Canadian Securities Exchange.
Innovative Industrial Properties Declares $0.25 Q4 2017 Dividend
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/12/15/IIPR-Innovative-Industrial-Properties-Declares-025-Q4-2017-Dividend
SAN DIEGO, Calif.--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (the “Company”) (NYSE:IIPR), the leading provider of creative real estate capital solutions to the medical-use cannabis industry, announced today that its board of directors has declared a fourth quarter 2017 dividend of $0.25 per share of common stock, representing a 67% increase over the Company's third quarter 2017 dividend of $0.15 per share of common stock. The dividend is equivalent to an annualized dividend of $1.00 per common share, and is the third consecutive quarterly dividend payable to common stockholders declared since the Company completed its initial public offering in December 2016.
Additionally, the Company announced today that its board of directors has declared a regular quarterly dividend of $0.5375 per share of the Company's 9.00% Series A Cumulative Redeemable Preferred Stock.
The dividends are payable on January 16, 2018 to stockholders of record at the close of business on December 29, 2017.
About Innovative Industrial Properties
Innovative Industrial Properties, Inc. is a self-advised Maryland corporation focused on the acquisition, ownership and management of specialized industrial properties leased to experienced, state-licensed operators for their regulated medical-use cannabis facilities. Innovative Industrial Properties, Inc. intends to elect to be taxed as a real estate investment trust. Additional information is available at www.innovativeindustrialproperties.com.
This press release contains statements that the Company believes to be “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than historical facts are forward-looking statements. When used in this press release, words such as we “expect,” “intend,” “plan,” “estimate,” “anticipate,” “believe” or “should” or the negative thereof or similar terminology are generally intended to identify forward-looking statements. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in, or implied by, such statements. Investors should not place undue reliance upon forward-looking statements. The Company disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Marijuana Company of America Launches hempSMART™ Pain Product
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/12/14/MCOA-Marijuana-Company-of-America-Launches-hempSMARTE284A2-Pain-Product
ESCONDIDO, Calif., Dec. 14, 2017 (GLOBE NEWSWIRE) -- MARIJUANA COMPANY OF AMERICA (“MCOA” or the “Company”) (OTC:MCOA), an innovative hemp and cannabis company, through its wholly own subsidiary hempSMART™, Inc., announced the launch of its new personal care product: hempSMART™ Pain.
HempSMART Pain Capsules are formulated with 10mg of Full Spectrum, non-psychoactive Cannabidiol (CBD) per serving, derived from industrial hemp as the core ingredient, which along with a proprietary blend of other natural ingredients, delivers an all-natural formulation for the temporary relief of minor pain associated with physical activity.
“HempSMART demonstrated its commitment to formulating a safe and synergistic natural personal care product. The hempSMART Pain formula harnesses the natural power of premium CBD, CBG and active terpenes derived from industrial hemp, combined with complimentary botanicals. Our team is focused on the development of premium personal care products for our customers,” said Paula Vetter, member of hempSMART’s product development team.
"Creating a successful, growing company in our marketplace of direct sales and network marketing depends on delivering products that people need and that make a difference in their lives. The newest addition to the product line, hempSMART Pain, was designed and formulated with these goals as the focus. hempSMART Affiliates now have a unique, powerful message to share with potential consumers that could generate new sales for their personal hempSMART businesses, as well as stimulate growth for the company,” Tim Altvater, head of affiliate marketing, said.
MCOA’s CEO Donald Steinberg added, “HempSMART Pain adds to our expanding product line. Our formulations are created by the hempSMART product development team to provide our customers with all natural products that contain CBD and other cannabinoids.”
About Marijuana Company of America, Inc.
MCOA is a corporation engaged in business including, but not limited to: (1) product research and development of legal hemp-based consumer products under the brand name "hempSMART™", that targets general health and well-being; (2) an affiliate marketing program to promote and sell its legal hemp-based consumer products containing CBD; (3) leasing of real property to separate business entities engaged in the growth and sale of cannabis in those states and jurisdictions where cannabis has been legalized and properly regulated for medicinal and recreations use; and, (4) the expansion of its business into ancillary areas of the legalized cannabis and hemp industry, as the legalized markets and opportunities in this segment mature and develop.
About Our hempSMART Products Containing CBD
The United States Food and Drug Administration (FDA) has not recognized CBD as a safe and effective drug for any indication. Our products containing CBD derived from industrial hemp are not marketed or sold based upon claims that their use is safe and effective treatment for any medical condition as drugs or dietary supplements subject to the FDA’s jurisdiction.
Forward Looking Statements
This news release contains "forward-looking statements" which are not purely historical and may include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities and words such as "anticipate", "seek", intend", "believe", "estimate", "expect", "project", "plan", or similar phrases may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects, the future U.S. and global economies, the impact of competition, and the Company's reliance on existing regulations regarding the use and development of cannabis-based products. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-12G, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission. For more information, please visit www.sec.gov.
Stony Hill Advisory Board Includes a Former Pfizer Director and More
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/12/13/STNY-Stony-Hill-Advisory-Board-Includes-Former-Pfizer-Director-and-More
While many people know that Stony Hill Corp. (OTC:STNY) was founded by Damian Marley, the company's advisory board doesn't get nearly enough attention. While we covered the appointment of Dr. James Mulé as its first member back in May, a quick look at the company's website shows some new additions.
Advisory Board vs. Board of Directors
When growing companies need guidance, they often look to their trusted advisory board. Different than a company's Board of Directors, a company's advisory board is a committee of hand-selected individuals with substantial experience in their fields.
Stony Hill's advisory board is comprised of individuals with some incredible and noteworthy credentials, including the former business unit Chief Medical Officer and senior director of oncology research and development with the pharmaceutical giant Pfizer Inc. (NYSE:PFE).
Dr. Raymond Urbanski
According to Stony Hill's website, "Dr. Raymond W. Urbanski, M.D., Ph.D. has been Chief Medical Officer at GT Biopharma, Inc. since September 2017. Dr. Urbanski oversees the development of key products in GT Biopharma’s product pipeline, including its platform targeted immunotherapy BiKE and TriKE technologies. Previously, he served as the Chief Medical Officer of MannKind Corp. from August 10, 2015 until September 29, 2017 and its Corporate Vice President until September 2017. Dr. Urbanski led MannKind’s overall drug development activities and is a member of the Executive Leadership Team. Previously, he served as Chief Medical Officer and Senior Director of oncology research and development at Pfizer Inc. (PFE). Dr. Urbanski spent eight years with Pfizer and held several positions with the company, including CMO of the Established Products Business Unit, senior medical director of oncology clinical R&D, senior medical director of breast cancer products and medical director of diversified products. He served as the Vice President and Medical Head of the Established Products Business Unit at Pfizer since 2008 which he built into a global business. From 2004 to 2008, he held various positions in the Pfizer Global Pharmaceutics Group. He has extensive experience in developing and overseeing clinical studies, including phase 3b and phase 4 studies (including line extensions) for sunitinib (Sutent), exemestane (Aromasin), irinotecan (Camptosar), epirubicin (Ellence), axitinib, IGF1R inhibitor and tremelimumab. In addition to his role with Pfizer, he served as Chief Medical Officer of Mylan Inc., and Senior Director of US Medical Affairs for Aventis. He served as the Chief Medical Officer at Cymabay Therapeutics, Inc. (alternate name, Metabolex, Inc.) since October 2011. He served as the Vice President for Research and Development at Suntory Pharmaceutical, Inc. from 2001 to 2004 and its CMO. He held various positions at Aventis and AstraZeneca from 1998 to 2001. Dr. Urbanski received his Ph.D. in pharmacology and Toxicology and his M.D. from the University of Medicine and Dentistry of New Jersey."
James H. Bailey
James Bailey is the Founder and Managing General Partner of Velos Partners a technology and consumer fund with offices in Los Angeles and Singapore. James is also the Founder or Bailey Ventures, a cannabis investment company with stakes in industry leading brands like Pax, Eaze, High Times, Bloom Farms and Zynerba. James previously worked at Accel Partnerss, Highland Capital, TA Associates and Upfront Ventures.
Professor Oded Shoseyov
According to Stony Hill's website, Professor Oded Shoseyov "is a Co-Founder of SP Nano Ltd. and serves as its Scientific Advisor. Prof. Shoseyov is the Scientific Founder of CBD Technologies., FuturaGene, Melodea and Bondex. He founded Collplant Holdings Ltd. in 2004 and has been its Chief Scientist Officer since August 2008. He serves as the Chief Scientist at CBD Technologies Ltd. Prof. Shoseyov He is a Founder of Fulcrum SP Ltd. Prof. Shoseyov is a Faculty Member of the Institute of Plant Science and Genetics in Agriculture and the Otto Warburg Center for Agricultural Biotechnology at the Faculty of Agriculture, Food and Environmental Quality Sciences of the Hebrew University of Jerusalem. His main field of research is plant molecular biology and biotechnology. He has extensive experience with genetic engineering of plants, protein engineering and nano-biotechnology. He serves as a Member of Advisory Board at EQUI-nom Ltd. Prof. Shoseyov serves as a Member of Scientific Advisory Board of FuturaGene Plc (now known as FuturaGene, LTD.). He served as a Director of Collplant Holdings Ltd. from May 20, 2010 to October 2016. He is an invited Speaker at many scientific conferences and has published extensively. He is the Inventor Or Co-inventor of more than 14 patents, 9 of which relate directly to CBD Technologies business. He has authored or co-authored more than 160 scientific publications and is the inventor or co-inventor of 42 patents. He has received numerous awards and appointments for his research in agricultural biotechnology. Prof. Shoseyov received the Outstanding Scientist Polak Award for 2002 and the 1999 Kay Award for Innovative and Applied Research. He received his B.S. with Excellence in 1981, his M.S. with Excellence in 1983 and his Ph.D. summa cum laude in 1988 from the Hebrew University of Jerusalem."
Dr. James Mulé
According to Stony Hill's website, "Dr. Mulé is Associate Center Director, the U.S. Sen ator Connie Mack (ret.) & Family Endowed Chair for Melanoma Research and Treatment, and Director of Cell-based Therapies at the Moffitt Cancer Center, Tampa, Florida. He is recognized for his research and clinical trial contributions to cancer immunoth erapy, particularly in melanoma. His translational work in this area has helped to develop new treatments for advanced cancer patients. He has published nearly 200 articles. Dr. Mulé serves on Advisory Boards of numerous biotechnology and pharma companies as well as investment funds (e.g., OncoPep, Fulgent Diagnostics, UbiVac, Lion Biotech, Orpheus Therapeutics, Vault Pharma, Celgene, Select BioVenture Partners, Noble Life Science Partners, KB Capital Management, among others). Dr. Mulé remains a long-standing special government employee to the FDA (CDER and CBER) and the NCI. He was Chair of the Cellular, Tissue, and Gene Therapy Advisory Committee of CBER, FDA. He currently serves on the advisory boards of several NCI-designated Cancer Centers and was a member of the NCI Director’s Board of Scientific Counselors (BSC-A). Dr. Mulé also serves on the Editorial Boards of several peer-reviewed journals, including Scientific Reports (nature.com), Journal of Immunotherapy, and Cancer Immunology Research (AACR). Dr. Mulé received his professional degrees from the Fred Hutchinson Cancer Research Center and the University of Washington, Seattle, Washington. He then received his formal post-graduate training at the Surgery Branch , Division of Cancer Treatment, National Cancer Institute, NIH, Bethesda, Maryland, where he became a Senior Investigator with tenure. Dr. Mulé moved to Palo Al to, CA, where he helped to launch and scientifically direct two biotechnology companies and was also an adjunct professor at Stanford University. He then moved to Ann Arbor, Michigan to become the Director of the Tumor Immunology and Immunotherapy Program at the University of Michigan Comprehensive Cancer Center, the Maude T. Lane Endo wed Professor of Surgery with tenure, Department of Surgery, and Professor in the Department of Internal Medicine."
Conclusion
We'll be watching closely to see how these industry veterans help Stony Hill on it's climb to industry leadership. To stay up to date with important developments in the cannabis industry, be sure to subscribe to one or more of our free email newsletters. Also, connect with The Daily Marijuana Observer on Facebook, Twitter, StockTwits and Instagram!
Aurora and CannaRoyalty Sign LOI for Drug Delivery Technology Licensing
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/12/13/ACB-ACBFF-Aurora-and-CannaRoyalty-CRZ-CNNRF-Sign-LOI-for-Drug-Delivery-Technology-Licensing
VANCOUVER and OTTAWA, Dec. 13, 2017 /CNW/ - Aurora Cannabis Inc. ("Aurora") (TSX:ACB) (OTC:ACBFF) (Frankfurt: 21P; WKN: A1C4WM) and CannaRoyalty Corp. (CSE:CRZ) (OTC:CNNRF) ("CannaRoyalty") today announced that the companies have signed a binding Letter of Intent, giving Aurora the exclusive right for 90 days to negotiate a final licensing agreement (the "Final Agreement").
The Final Agreement concerns the acquisition by Aurora of the exclusive rights for Canada, Europe and Australia to the intellectual property, manufacturing procedures, and the sales and marketing rights related to a portfolio of specialty branded cannabis drug delivery technologies from the award-winning MüV brand, to which CannaRoyalty holds the licensing rights.
MüV is a line of cannabis-infused products, developed by CannaRoyalty investee AltMed Enterprises, focused on advanced alternative cannabinoid delivery mechanisms for the medical and the LOHAS (Lifestyles of Health and Sustainability) segments of the market. The line was successfully launched in the U.S. in 2016.
The MüV products to be covered by the license agreement include the following:
MüV Metered Dose Inhaler
MüV Transdermal Patch
CBD Sports Gel
CBD Hydrating Lotion
THC Sports Gel
THC Hydrating Lotion
THC Pain Relief Cream
Characterization tests, meeting FDA standards, were conducted, and the data were subsequently reviewed by Aurora on the MüV Metered Dose Inhaler, which was found to achieve the required criteria, validating that the product meets the Aurora Standard of quality and user experience.
"This agreement shows Aurora's strategic commitment to the development of advanced alternative delivery mechanisms to broaden the Company's product offering," said Terry Booth, CEO. "It also shows how a growing constellation of trusted innovation partners sees Aurora as the winning brand to help commercialize their products and technologies, and we look forward to finalizing our agreement with CannaRoyalty and bringing these exciting new offerings to our growing international customer base."
Marc Lustig, CEO of CannaRoyalty, added, "This agreement with Aurora represents a significant opportunity to accelerate the growth of AltMed's award-winning MüV product line on an international scale, leveraging our relationship with one of the world's most dynamic cannabis companies. The MüV line meets the growing need for specialized products with alternative delivery mechanisms, especially in critical jurisdictions, such as Canada and Germany, where consumers to date have been limited in terms of product choice. Aurora is a great partner to help us penetrate these new markets, and we look forward to completing our final agreement."
About Aurora
Aurora's wholly-owned subsidiary, Aurora Cannabis Enterprises Inc., is a licensed producer of medical cannabis pursuant to Health Canada's Access to Cannabis for Medical Purposes Regulations ("ACMPR"). The Company operates a 55,200 square foot, state-of-the-art production facility in Mountain View County, Alberta, known as "Aurora Mountain", a second 40,000 square foot high-technology production facility known as "Aurora Vie" in Pointe-Claire, Quebec on Montreal'sWest Island, and is currently constructing an 800,000 square foot production facility, known as "Aurora Sky", at the Edmonton International Airport, as well as is completing a fourth facility in Lachute, Quebec through its wholly owned subsidiary Aurora Larssen Projects Ltd.
In addition, the Company holds approximately 17.23% of the issued shares in leading extraction technology company Radient Technologies Inc., based in Edmonton, and is in the process of completing an investment in Edmonton-based Hempco Food and Fiber for an ownership stake of up to 50.1%. Furthermore, Aurora is the cornerstone investor with a 22.9% stake in Cann Group Limited, the first Australian company licensed to conduct research on and cultivate medical cannabis. Aurora also owns Pedanios, a leading wholesale importer, exporter, and distributor of medical cannabis in the European Union, based in Germany. The Company offers further differentiation through its acquisition of BC Northern Lights Ltd. and Urban Cultivator Inc., industry leaders, respectively, in the production and sale of proprietary systems for the safe, efficient and high-yield indoor cultivation of cannabis, and in state-of-the-art indoor gardening appliances for the cultivation of organic microgreens, vegetables and herbs in home and professional kitchens. Aurora's common shares trade on the TSX under the symbol "ACB".
About CannaRoyalty
CannaRoyalty is an active investor and operator in the legal cannabis sector. Our focus is building and supporting a diversified portfolio of growth-ready assets in high-value segments of the cannabis sector, including research, consumer brands, devices and intellectual property. Our management team combines a hands-on understanding of the cannabis industry with seasoned financial know-how, assembling a platform of holdings via royalty agreements, equity interests, secured convertible debt, licensing agreements and its own branded portfolio.
About MüV
The MüV brand is owned by Alternative Medical Enterprises, LLC ("AltMed"). CannaRoyalty owns a 8.3% equity ownership position in AltMed, with licensing right for MüV products in various jurisdictions. MüV is an award-winning science focused cannabis consumer brand that is focused on developing outstanding, consistent, and pure cannabis-based branded products. MüV has medical, scientific, and development teams that conduct ongoing innovative research and development aimed at producing the finest and most consistent cannabis-based products on the market. MüV believes in purity, testing ingredients and product components to assure 100% compliance with its benchmark quality standards. This approach has allowed MüV to become one of the most recognized cannabis brands in North America, as it continues to expand and improve its leading product portfolio.
About AltMed
Alternative Medical Enterprises, LLC, headquartered in Sarasota, FL and doing business as AltMed Enterprises, is a fully integrated company that brings pharmaceutical industry precision to the development, production and dispensing of medical cannabinoids.
On behalf of the Boards of Directors, On behalf of the Boards of Directors
AURORA CANNABIS INC. CannaRoyalty Corp.
Terry Booth Marc Lustig
CEO CEO
This news release includes statements containing certain "forward-looking information" within the meaning of applicable securities law ("forward-looking statements"), including, but not limited to, statements with respect to the completion of a final agreement between Aurora and CannaRoyalty. Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
Neither TSX or CSE, nor their Regulation Services Provider (as that term is defined in the policies of Toronto Stock Exchange and the Canadian Securities Exchange) accept responsibility for the adequacy or accuracy of this release.
Surna Raises $1.8 Million for Working Capital and Growth Initiatives
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/12/13/SRNA-Surna-Raises-18-Million-for-Working-Capital-and-Growth-Initiatives
BOULDER, Colo., Dec. 13, 2017 /PRNewswire/ -- Surna Inc. (the "Company") (OTC:SRNA), a manufacturer of a proprietary line of application-specific lighting, environmental control and air sanitation systems for state-regulated cannabis cultivation facilities as well as traditional indoor agricultural facilities, announced today that it completed a private placement offering of investment units, at a price of $0.12 per unit, with certain accredited investors. The Company issued a total of 14,734,000 units for aggregate proceeds of $1,768,080. No placement agent or broker commissions or fees were paid in connection with the offering. Each unit consisted of one share of common stock and one three-year warrant for the purchase of one share of common stock at an exercise price of $0.20 per share.
"Surna has recently expanded both its sales and project management teams with key hires, with the objective of ramping organic growth over the next 24 months, and this private placement will help further accelerate that growth plan," stated Chris Bechtel, the Company's Chief Executive Officer. "We are also gratified that a number of our existing stockholders expressed continued confidence in the plan by increasing their investments in the company, and we believe it is also noteworthy that Surna's own management team subscribed for 18% of the units in this offering," added Mr. Bechtel.
About Surna Inc.
Surna Inc. (www.surna.com) develops innovative technologies and products that monitor, control and or address the energy and resource intensive nature of indoor cannabis cultivation. Currently, our revenue stream is derived primarily from supplying industrial technology and products to commercial indoor cannabis grow facilities.
Headquartered in Boulder, Colorado, our engineering team strives to create novel energy and resource efficient solutions, including our signature water-cooled climate control platform to create technological solutions and products that solve the highly specific demands of the cannabis industry for temperature, humidity, light and process control. Our goal is to provide intelligent solutions to improve the quality, the control and the overall yield and efficiency of controlled environment agriculture. Though our customers do, we neither produce nor sell cannabis.
Forward Looking Statements
This press release may contain statements of a forward-looking nature relating to future events. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. These statements reflect Surna's current beliefs, and a number of important factors could cause actual results to differ materially from those expressed in this press release, including the factors set forth in "Risk Factors" set forth in Surna's Form 10-K and Form 10-Q filed with the Securities and Exchange Commission ("SEC"), and subsequent filings with the SEC. Please refer to Surna's SEC filings for a more detailed discussion of the risks and uncertainties associated with its business, including but not limited to the risks and uncertainties associated with Surna's ability to monetize service components, Surna's support of premium prices for existing products, commercialization of research and development efforts and continued expansion of legal cannabis markets. Other risks and uncertainties include, among others, risks related to new products, services, and technologies, government regulation and taxation, and fraud. In addition, the current global economic climate amplifies many of these risks. Except as required by the federal securities laws, Surna undertakes no obligation to revise or update any forward-looking statements, whether as a result of new information, future events or otherwise. The reference to Surna's website has been provided as a convenience, and the information contained on such website is not incorporated by reference into this press release.
Statement about Cannabis Markets
The use, possession, cultivation, and distribution of cannabis is prohibited by federal law. This includes medical and recreational cannabis. Although certain states have legalized medical and recreational cannabis, companies and individuals involved in the sector are still at risk of being prosecuted by federal authorities. Further, the landscape in the cannabis industry changes rapidly. What was the law last week is not the law today and what is the law today may not be the law next week. This means that at any time the city, county, or state where cannabis is permitted can change the current laws and/or the federal government can supersede those laws and take prosecutorial action. Given the uncertain legal nature of the cannabis industry, it is imperative that investors understand that the cannabis industry is a high-risk investment. A change in the current laws or enforcement policy can negatively affect the status and operation of our business, require additional fees, stricter operational guidelines and unanticipated shut-downs.
Aphria Inc. Announces $100 Million CAD Bought Deal
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/12/13/APH-APHQF-Aphria-Inc-Announces-100-Million-CAD-Bought-Deal
LEAMINGTON, ONTARIO--(Marketwired - Dec. 13, 2017) - Aphria Inc. ("Aphria" or the "Company") (TSX:APH) is pleased to announce that it has entered into an agreement with Clarus Securities Inc., on behalf of a syndicate of underwriters (collectively, the "Underwriters"), pursuant to which the Underwriters have agreed to purchase, on a "bought deal" basis, 7,272,740 Common Shares (the "Common Shares") of the Company at a price of C$13.75 per Common Share (the "Offering Price") for aggregate gross proceeds to the Company of C$100,000,175 (the "Offering").
The Company has agreed to grant the Underwriters an over-allotment option to purchase up to an additional 1,090,911 Common Shares at the Offering Price, exercisable in whole or in part at any time for a period ending 30 days from the closing of the Offering. In the event the over-allotment option is exercised in full, the aggregate gross proceeds of the Offering will be C$115,000,201.
The Company intends to use the net proceeds from the Offering to finance the construction of additional cannabis production facilities globally in both foreign and Canadian jurisdictions where cannabis is legally permitted as well evaluating strategic acquisitions and investments and other industry related transactions, and for general corporate purposes.
The Common Shares will be offered by way of a short form prospectus to be filed in each of the provinces of Canada, other than the Province of Quebec, by way of a private placement in the United States, and in those jurisdictions outside of Canada and the United States which are agreed to by the Company and the Underwriters, where the Common Shares can be issued on a private placement basis, exempt from any prospectus, registration or other similar requirements.
The Offering is expected to close on or about January 9, 2018 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Exchange (the "Exchange").
In connection with the Offering, Delavaco Group has been appointed as a special advisor to the Company.
The securities 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 U.S. state securities laws, and may not be offered or sold in the United States without registration under the U.S. Securities Act and all applicable state securities laws or compliance with the requirements of an applicable exemption therefrom. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Aphria
Aphria Inc., one of Canada's lowest cost producers, produces, supplies and sells medical cannabis. Located in Leamington, Ontario, the greenhouse capital of Canada. Aphria is truly powered by sunlight, allowing for the most natural growing conditions available. We are committed to providing pharma-grade medical cannabis, superior patient care while balancing patient economics and returns to shareholders.
For more information, visit www.Aphria.com.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "potential", "believe", "intend" or the negative of these terms and similar expressions. Forward-looking statements in this news release include, but are not limited to, statements with respect to internal expectations, estimated margins, expectations for future growing capacity and costs, the completion of any capital project or expansions, any commentary related to the legalization of marijuana and the timing related thereto, expectations of Health Canada approvals and expectations with respect to future production costs. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; marketing costs; loss of markets; future legislative and regulatory developments involving medical marijuana; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the medical marijuana industry in Canada generally, income tax and regulatory matters; the ability of Aphria to implement its business strategies; competition; crop failure; currency and interest rate fluctuations and other risks.
Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
GW Reacquires Full Rights to Develop and Commercialize Sativex in U.S.
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/12/13/GWPH-GW-Reacquires-Full-Rights-to-Develop-and-Commercialize-Sativex-in-US
LONDON, Dec. 13, 2017 (GLOBE NEWSWIRE) -- GW Pharmaceuticals plc (NASDAQ:GWPH) (“GW” or “the Company”), a biopharmaceutical company focused on discovering, developing and commercializing novel therapeutics from its proprietary cannabinoid product platform, today announces the termination of its previous license agreement with Otsuka Pharmaceutical Co., Ltd. in relation to Sativex® (nabiximols) in the U.S. As a result, GW has now reacquired full ownership of the development and commercialization rights to the product in the U.S. market without making any upfront payment to Otsuka. GW has agreed to make contingent milestone payments to Otsuka, the first of which would become due upon FDA approval of Sativex and thereafter additional payments would become due upon the achievement of certain annual sales thresholds of Sativex in the United States.
“We are pleased to have amicably reached this agreement with Otsuka, which enables GW to develop, seek approval for, and commercialize Sativex in the United States,” stated Justin Gover, GW’s CEO. “We have previously conducted several positive Phase 2 and 3 trials for Sativex and believe that this product represents an important new late-stage pipeline opportunity for GW in the U.S. market.”
Sativex is an oromucosal spray of a formulated extract that contains the principal cannabinoids cannabidiol (CBD) and delta-9-tetrahydrocannabinol (THC) in a 1:1 ratio. Sativex is currently approved in 29 countries outside the U.S. for the treatment of spasticity in patients with multiple sclerosis. GW and Otsuka originally signed a licensing agreement in 2007 under which GW granted Otsuka an exclusive license to develop and market Sativex in the U.S. The two companies conducted a clinical trials program in the treatment of cancer pain, in which the trials did not meet the primary endpoint.
About GW Pharmaceuticals plc and Greenwich Biosciences
Founded in 1998, GW is a biopharmaceutical company focused on discovering, developing and commercializing novel therapeutics from its proprietary cannabinoid product platform in a broad range of disease areas. GW, along with its U.S. subsidiary Greenwich Biosciences, is advancing an orphan drug program in the field of childhood epilepsy with a focus on Epidiolex (cannabidiol), for which GW has submitted an NDA to the FDA for the adjunctive treatment of LGS and Dravet syndrome. The Company continues to evaluate Epidiolex in additional epilepsy conditions and currently has ongoing clinical trials in Tuberous Sclerosis Complex and Infantile Spasms. GW commercialized the world’s first plant-derived cannabinoid prescription drug, Sativex® (nabiximols), which is approved for the treatment of spasticity due to multiple sclerosis in numerous countries outside the United States. The Company has a deep pipeline of additional cannabinoid product candidates which includes compounds in Phase 1 and 2 trials for glioblastoma, schizophrenia and epilepsy. For further information, please visit www.gwpharm.com.
Forward-looking statements
This news release contains forward-looking statements that reflect GW's current expectations regarding future events, including statements regarding financial performance, the timing of clinical trials, the timing and outcomes of regulatory or intellectual property decisions, the relevance of GW products commercially available and in development, the clinical benefits of Sativex® (nabiximols) and the safety profile and commercial potential of Sativex. Forward-looking statements involve risks and uncertainties. Actual events could differ materially from those projected herein and depend on a number of factors, including (inter alia), the success of GW’s research strategies, the applicability of the discoveries made therein, the successful and timely completion and uncertainties related to the regulatory process, and the acceptance of Sativex, Epidiolex and other products by consumer and medical professionals. A further list and description of risks and uncertainties associated with an investment in GW can be found in GW’s filings with the U.S. Securities and Exchange Commission, including the most recent Form 20-F filed on 4 December 2017. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. GW undertakes no obligation to update or revise the information contained in this press release, whether as a result of new information, future events or circumstances or otherwise.
Aurora and CannaRoyalty Sign LOI for Drug Delivery Technology Licensing
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/12/13/ACB-ACBFF-Aurora-and-CannaRoyalty-CRZ-CNNRF-Sign-LOI-for-Drug-Delivery-Technology-Licensing
VANCOUVER and OTTAWA, Dec. 13, 2017 /CNW/ - Aurora Cannabis Inc. ("Aurora") (TSX:ACB) (OTC:ACBFF) (Frankfurt: 21P; WKN: A1C4WM) and CannaRoyalty Corp. (CSE:CRZ) (OTC:CNNRF) ("CannaRoyalty") today announced that the companies have signed a binding Letter of Intent, giving Aurora the exclusive right for 90 days to negotiate a final licensing agreement (the "Final Agreement").
The Final Agreement concerns the acquisition by Aurora of the exclusive rights for Canada, Europe and Australia to the intellectual property, manufacturing procedures, and the sales and marketing rights related to a portfolio of specialty branded cannabis drug delivery technologies from the award-winning MüV brand, to which CannaRoyalty holds the licensing rights.
MüV is a line of cannabis-infused products, developed by CannaRoyalty investee AltMed Enterprises, focused on advanced alternative cannabinoid delivery mechanisms for the medical and the LOHAS (Lifestyles of Health and Sustainability) segments of the market. The line was successfully launched in the U.S. in 2016.
The MüV products to be covered by the license agreement include the following:
MüV Metered Dose Inhaler
MüV Transdermal Patch
CBD Sports Gel
CBD Hydrating Lotion
THC Sports Gel
THC Hydrating Lotion
THC Pain Relief Cream
Characterization tests, meeting FDA standards, were conducted, and the data were subsequently reviewed by Aurora on the MüV Metered Dose Inhaler, which was found to achieve the required criteria, validating that the product meets the Aurora Standard of quality and user experience.
"This agreement shows Aurora's strategic commitment to the development of advanced alternative delivery mechanisms to broaden the Company's product offering," said Terry Booth, CEO. "It also shows how a growing constellation of trusted innovation partners sees Aurora as the winning brand to help commercialize their products and technologies, and we look forward to finalizing our agreement with CannaRoyalty and bringing these exciting new offerings to our growing international customer base."
Marc Lustig, CEO of CannaRoyalty, added, "This agreement with Aurora represents a significant opportunity to accelerate the growth of AltMed's award-winning MüV product line on an international scale, leveraging our relationship with one of the world's most dynamic cannabis companies. The MüV line meets the growing need for specialized products with alternative delivery mechanisms, especially in critical jurisdictions, such as Canada and Germany, where consumers to date have been limited in terms of product choice. Aurora is a great partner to help us penetrate these new markets, and we look forward to completing our final agreement."
About Aurora
Aurora's wholly-owned subsidiary, Aurora Cannabis Enterprises Inc., is a licensed producer of medical cannabis pursuant to Health Canada's Access to Cannabis for Medical Purposes Regulations ("ACMPR"). The Company operates a 55,200 square foot, state-of-the-art production facility in Mountain View County, Alberta, known as "Aurora Mountain", a second 40,000 square foot high-technology production facility known as "Aurora Vie" in Pointe-Claire, Quebec on Montreal'sWest Island, and is currently constructing an 800,000 square foot production facility, known as "Aurora Sky", at the Edmonton International Airport, as well as is completing a fourth facility in Lachute, Quebec through its wholly owned subsidiary Aurora Larssen Projects Ltd.
In addition, the Company holds approximately 17.23% of the issued shares in leading extraction technology company Radient Technologies Inc., based in Edmonton, and is in the process of completing an investment in Edmonton-based Hempco Food and Fiber for an ownership stake of up to 50.1%. Furthermore, Aurora is the cornerstone investor with a 22.9% stake in Cann Group Limited, the first Australian company licensed to conduct research on and cultivate medical cannabis. Aurora also owns Pedanios, a leading wholesale importer, exporter, and distributor of medical cannabis in the European Union, based in Germany. The Company offers further differentiation through its acquisition of BC Northern Lights Ltd. and Urban Cultivator Inc., industry leaders, respectively, in the production and sale of proprietary systems for the safe, efficient and high-yield indoor cultivation of cannabis, and in state-of-the-art indoor gardening appliances for the cultivation of organic microgreens, vegetables and herbs in home and professional kitchens. Aurora's common shares trade on the TSX under the symbol "ACB".
About CannaRoyalty
CannaRoyalty is an active investor and operator in the legal cannabis sector. Our focus is building and supporting a diversified portfolio of growth-ready assets in high-value segments of the cannabis sector, including research, consumer brands, devices and intellectual property. Our management team combines a hands-on understanding of the cannabis industry with seasoned financial know-how, assembling a platform of holdings via royalty agreements, equity interests, secured convertible debt, licensing agreements and its own branded portfolio.
About MüV
The MüV brand is owned by Alternative Medical Enterprises, LLC ("AltMed"). CannaRoyalty owns a 8.3% equity ownership position in AltMed, with licensing right for MüV products in various jurisdictions. MüV is an award-winning science focused cannabis consumer brand that is focused on developing outstanding, consistent, and pure cannabis-based branded products. MüV has medical, scientific, and development teams that conduct ongoing innovative research and development aimed at producing the finest and most consistent cannabis-based products on the market. MüV believes in purity, testing ingredients and product components to assure 100% compliance with its benchmark quality standards. This approach has allowed MüV to become one of the most recognized cannabis brands in North America, as it continues to expand and improve its leading product portfolio.
About AltMed
Alternative Medical Enterprises, LLC, headquartered in Sarasota, FL and doing business as AltMed Enterprises, is a fully integrated company that brings pharmaceutical industry precision to the development, production and dispensing of medical cannabinoids.
On behalf of the Boards of Directors, On behalf of the Boards of Directors
AURORA CANNABIS INC. CannaRoyalty Corp.
Terry Booth Marc Lustig
CEO CEO
This news release includes statements containing certain "forward-looking information" within the meaning of applicable securities law ("forward-looking statements"), including, but not limited to, statements with respect to the completion of a final agreement between Aurora and CannaRoyalty. Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
Neither TSX or CSE, nor their Regulation Services Provider (as that term is defined in the policies of Toronto Stock Exchange and the Canadian Securities Exchange) accept responsibility for the adequacy or accuracy of this release.
ABcann Enters into Agreement to Acquire Harvest Medicine
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/12/12/ABCN-ABcann-Enters-into-Agreement-to-Acquire-Harvest-Medicine
NAPANEE, Ontario and CALGARY, Alberta, Dec. 12, 2017 (GLOBE NEWSWIRE) -- ABcann Global Corporation (TSXV:ABCN) (“ABcann” or the “Company”) is pleased to announce that it has entered into a binding letter of intent dated December 11, 2017 (the “LOI”) to acquire (the “Acquisition”) all of the outstanding securities of Harvest Medicine Inc. (“HMED” or “Harvest Medicine”). This transaction unites the high-quality, precision growing focus of ABcann with the high-quality, customized patient focus of HMED. As Canada’s fastest growing medical cannabis clinic, Harvest Medicine has educated and serviced over 8,500 active patients since opening in February 2017.
“Harvest Medicine is a great partner for us, and the Acquisition will be immediately accretive to our shareholders,” said Barry Fishman, ABcann’s CEO. “Their professional, patient-focused approach is aligned with ABcann’s philosophy of quality and innovation. This represents one initial step of many as we begin the execution of our aggressive growth strategy.”
Under the terms of the LOI, at the closing of the Acquisition (the “Closing”), ABcann will:
make a $1,500,000 cash payment (less amounts needed to settle certain outstanding liabilities of HMED);
issue 1,056,338 common shares in the capital of ABcann (each, an “ABcann Share”) having an aggregate value of $1,500,000, based on a deemed price of $1.42 per ABcann Share, which will be deposited into escrow and released in equal quarterly amounts over the three-year period following the Closing; and
pay future consideration in the form of cash or ABcann Shares, post-Closing, if certain performance milestones, which include certain patient, revenue and profitability metrics, are achieved.
ABcann has also committed to investing $1,500,000 to enable HMED to execute its expansion plans and take its proven recipe for delivering patient value to several new clinics. Under the terms of the Acquisition, Harvest Medicine will maintain its commitment to being an open platform, that enables patients to register with the Licensed Producer of their choice.
At the Closing, Harvest Medicine founder and CEO, Shekhar Parmar, is expected to join ABcann’s executive team as Chief Strategy Officer and remain CEO of HMED. Mr. Parmar, a lawyer and entrepreneur, brings to ABcann extensive knowledge of the medical cannabis market and a unique perspective on patient needs. HMED has earned the trust of its active patient base of over 8,500 patients by providing unmatched focus on face-to-face patient communication, service and education.
“Harvest Medicine was fortunate to have our choice of partners to help us grow and take the steps required to bring our patient-centric model to Canadians from coast-to-coast. ABcann impressed us with their quality focus and entrepreneurial culture. I look forward to joining ABcann’s executive team as Chief Strategy Officer, and to continuing in the role of CEO of Harvest Medicine as we scale-up our proven business model.”
The closing of the Acquisition is subject to customary conditions, including the completion of satisfactory due diligence, the execution of a definitive agreement, and the receipt of applicable third party and regulatory approvals, including that of the TSX Venture Exchange (the “TSXV”).
About Harvest Medicine:
Harvest Medicine is an education focused, patient-centric, cannabis discovery center and clinic that has received tremendous response from its patients. Growing to over 8,500 active patients in under 10 months, and now acquiring over 1,200 new patients monthly from a single location, HMED is one of Canada’s most successful and fastest growing cannabis clinics.
Harvest Medicine is poised to expand its successful and highly scalable location in Calgary across the country. The first of these new clinics will open in Edmonton in the spring of 2018 with other locations around the country being evaluated. Using a highly trained team of medical doctors and Canna Genius educators, Harvest Medicine provides a welcoming environment that focuses on educating patients on the safe and effective use of medical cannabis.
About ABcann Global:
ABcann holds production and sales licenses from Health Canada. Its flagship facility in Napanee, Ontario contains proprietary plant-growing technology, centred on its specially designed, environmentally-controlled growing chambers. This approach results in the production of pesticide-free, pharmaceutical-grade cannabis products.
The Company is expanding its cultivation capacity and pursuing partnership and product development opportunities domestically, as well as in select international markets, such as Germany, Australia and Israel.
ON BEHALF OF THE BOARD OF DIRECTORS
“Barry Fishman”
Barry Fishman
CEO and Director
For further information, please contact:
Barry Fishman (CEO and Director) at barry.fishman@abcannglobal.com
Aaron Keay (Director) at aaron@abcannglobal.com or
Michael Bumby (CFO) at michael.bumby@abcannglobal.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Disclaimer for Forward-Looking Statements
This news release contains certain “forward-looking statements” or “forward-looking information” as contemplated by applicable Canadian securities law. Forward-looking statements are frequently characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or information that certain events or conditions “may” or “will” occur. They are only a prediction. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements in this news release include, but are not limited to, statements regarding: (i) the terms of the proposed Acquisition, (ii) the expected growth plans of ABcann and HMed; (iii) the consideration to be paid by ABcann in connection with the Acquisition; (iv) the benefits to be realized by ABcann and/or HMed as a result of the Acquisition; and (v) the positions to be held by Mr. Parmar following the Closing. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the forward-looking statements, including: (i) that the Acquisition and/or Mr. Parmar’s appointment to the ABcann executive team may not be approved by the TSXV or any other applicable parties; (ii) that the Acquisition may not be completed on the terms contemplated in the LOI or at all; (iii) that the conditions necessary for the Closing to occur may not be satisfied or waived; and (iv) other factors beyond the Company’s control. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. Readers are urged to consider these factors, and the more extensive risk factors included in the Company’s filing statement dated March 31, 2017, which is available on SEDAR, carefully in evaluating the forward-looking statements, and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by these cautionary statements. Neither ABcann nor HMED is under any obligation, and expressly 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 expressly required by applicable law.
Aurora Cannabis Increases Investment in Radient Technologies
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/12/12/ACB-ACBFF-Aurora-Cannabis-Increases-Investment-in-Radient-Technologies
VANCOUVER and EDMONTON, Dec. 12, 2017 /CNW/ - Aurora Cannabis Inc. ("Aurora") (TSX:ACB) (OTC:ACBFF) (Frankfurt: 21P; WKN: A1C4WM) and Radient Technologies Inc. ("Radient) (TSXV:RTI) today announced that Aurora has completed its previously announced $12 million strategic investment in Radient.
The strategic investment was structured as follows:
Aurora exercised all 15,856,321 common share purchase warrants of Radient previously held by Aurora for total proceeds of $5.8 million
Aurora completed a private placement (the `Placement`) of 4,541,889 units for total proceeds of $6.2 million, with each unit consisting of one common share of Radient and one common share purchase warrant. Units were priced at $1.37. Each warrant gives Aurora the right to purchase one common share of Radient for $1.71 for a period of 24 months.
Radient intends to use the proceeds from the financing to accelerate plant capacity expansion and increased throughput at its Edmonton facility, the purchase of land adjacent to this facility for further expansion, as well as for working capital purposes.
All securities issued in connection with the Placement are subject to a statutory four-month hold period.
"Our relationship with and investment in Radient are important elements in our expansion strategy considering the growing importance of cannabis extracts," said Terry Booth, CEO of Aurora. "This partnership clearly shows how Aurora is executing on an intelligent, vertically integrated approach to capturing market share, which continues successfully to generate shareholder value."
Denis Taschuk, CEO of Radient, added "Government proposals in regard to the new Cannabis Act allow for a much broader offering of extract-based products than was previously the case. Our technology and our capacity expansion, enabled through the investment from our key partner Aurora, positions us exceptionally well for this incredibly dynamic and rapidly growing market."
Early Warning Language
Prior to the investment Aurora held 17,245,221 common shares and 15,856,321 purchase warrants. After giving effect to the investment, Aurora holds 37,643,431 common shares and 4,541,889 share purchase warrants of Radient representing approximately 17.23% of the issued and outstanding common shares, and 15.87% of the issued and outstanding common shares on a fully-diluted basis. As at the date of this press release, Radient has 218,511,520 shares issued and outstanding at closing.
Aurora acquired the securities for investment purposes. Aurora will evaluate its investment in Radient from time to time and may, based on such evaluation, market conditions and other circumstances, increase or decrease shareholdings as circumstances require through market transactions, private agreements, or otherwise. A copy of the Early Warning report will be filed by Aurora in connection with the acquisition and will be available on Radient's SEDAR profile. In order to obtain a copy of the early warning report, please contact Nilda Rivera, Aurora's Controller, at telephone number: 604-362-5207. Aurora's registered office is located at 1500 - 1199 West Hastings St. Vancouver, British Columbia, V6E 3T5.
About Aurora
Aurora's wholly-owned subsidiary, Aurora Cannabis Enterprises Inc., is a licensed producer of medical cannabis pursuant to Health Canada's Access to Cannabis for Medical Purposes Regulations ("ACMPR"). The Company operates a 55,200 square foot, state-of-the-art production facility in Mountain View County, Alberta, known as "Aurora Mountain", a second 40,000 square foot high-technology production facility known as "Aurora Vie" in Pointe-Claire, Quebec on Montreal'sWest Island, and is currently constructing an 800,000 square foot production facility, known as "Aurora Sky", at the Edmonton International Airport, as well as is completing a fourth facility in Lachute, Quebec through its wholly owned subsidiary Aurora Larssen Projects Ltd.
In addition, the Company holds approximately 17.23% of the issued shares in leading extraction technology company Radient Technologies Inc., based in Edmonton, and is in the process of completing an investment in Edmonton-based Hempco Food and Fiber for an ownership stake of up to 50.1%. Furthermore, Aurora is the cornerstone investor with a 19.9% stake in Cann Group Limited, the first Australian company licensed to conduct research on and cultivate medical cannabis. Aurora also owns Pedanios, a leading wholesale importer, exporter, and distributor of medical cannabis in the European Union, based in Germany. The Company offers further differentiation through its acquisition of BC Northern Lights Ltd. and Urban Cultivator Inc., industry leaders, respectively, in the production and sale of proprietary systems for the safe, efficient and high-yield indoor cultivation of cannabis, and in state-of-the-art indoor gardening appliances for the cultivation of organic microgreens, vegetables and herbs in home and professional kitchens. Aurora's common shares trade on the TSX under the symbol "ACB".
About Radient
Radient extracts natural compounds from a range of biological materials using microwave assisted processing ("MAP™"), a patented technology platform which provides superior customer outcomes in terms of ingredient purity, yield, and cost. From its 20,000 square foot manufacturing plant in Edmonton, Alberta, Radient serves market leaders in industries that include cannabis, pharmaceutical, food, beverage, natural health, personal care and biofuel markets. Visit www.radientinc.com for more information.
On behalf of the Board of Directors, On behalf of the Board of Directors,
AURORA CANNABIS INC. RADIENT TECHNOLOGIES INC.
Terry Booth Denis Taschuk
CEO President and CEO
This news release includes statements containing certain "forward-looking information" within the meaning of applicable securities law ("forward-looking statements"), including, but not limited to, statements with respect to Radient's use of the proceeds from the investment. Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Neither Aurora nor Radient is under any obligation, and each expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this release.
HempAmericana Negotiating with Major CBD Oil Distributors
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/12/11/HMPQ-HempAmericana-Negotiating-with-Major-CBD-Oil-Distributors
NEW YORK, Dec. 11, 2017 (GLOBE NEWSWIRE) -- HempAmericana, Inc. (OTC:HMPQ) (the “Company”) is excited to announce it has begun negotiations with high-volume CBD Oil distributors around the country. The company is locking up a distributor network in advance of moving into full production at its Augusta, Maine location in Q1 2018.
CEO Salvadore Rosillo stated, “Distributor networks are paramount to our success. While our focus has been to establish a world class extraction facility, monetization is going to be a product of our distribution network going forward.”
The company’s new Super Critical CO2 Extractor Machine is now in the manufacturer’s production cue with a 60-day delivery schedule. Recently ordered from Vitalis Extraction Technology, Inc., the 200-Liter machine has an unmatched productive capacity and represents the largest machine ever produced by the manufacturer.
The production schedule will allow multiple distributors to push product out across the country as growth in the space continues to heat up. The global CBD Oil market is set to grow at a CAGR surpassing 39% through 2021, according to recent research by London-based Technavio. Product differentiation is becoming a driving force.
Management believes this trend favors upstream supply chain positioning, high-volume production, and a wide distribution footprint. With the commencement of its current round of negotiations, the last of these factors is beginning to take shape.
About HempAmericana, Inc.
HempAmericana is currently in the rolling paper and CBD oil business using the brand name Weed Got Oil. Search Rolling Thunders hemp papers on YouTube for a product demonstration of the Company's papers. The company owns an extraction machine and now plans to become a leader in the CBD oil market by establishing three laboratories for the extraction and research of the oils contained in the hemp plant. HempAmericana also researches, develops and sells products made of industrial hemp. See more at http://www.HempAmericana.net.
Safe Harbor:
Safe Harbor Provision Cautionary statement for purposes of the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995: Information in this news release contains forward-looking statements that involve risks, uncertainties and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of the Company and its consolidated subsidiaries could differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Risks, uncertainties and assumptions include the execution and performance of contracts by the Company and its customers, suppliers and partners. Please also review Hemp Americana annual and quarterly financials for a more complete discussion of risk factors. The Company disclaims any obligation to update or revise statements contained in this news release based on new information or otherwise. This communication shall not constitute an offer to sell or the solicitation of an offer to buy securities nor shall there be any sale of these securities in any state in which such solicitation or sale would be unlawful prior to registration or qualification of these securities under the laws of any such state.
2 Cannabinoid Biotech Companies Added to NASDAQ Biotechnology Index
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/12/11/2-Cannabinoid-Biotech-Companies-Added-to-NASDAQ-Biotechnology-Index
This past Friday, Nasdaq (NASDAQ:NDAQ) announced the results of the annual re-ranking of the NASDAQ Biotechnology Index, which will become effective prior to market open on Monday, December 18, 2017.
While there were 54 biotech companies being added to the index, and another 15 companies being removed, what caught our attention was the fact that two of the companies being added have cannabinoid-related drugs in their pipelines.
This is a big deal given how many dollars worth of assets are tied to these indices. For instance, the iShares NASDAQ Biotechnology ETF (NASDAQ:IBB) has over $9.5 billion in assets under management.
2 Cannabinoid Biotech Companies Added
Cara Therapeutics, Inc. (NASDAQ:CARA)
Cara Therapeutics is a clinical-stage biopharmaceutical company focused on developing and commercializing new chemical entities designed to alleviate pain and pruritus.
Corbus Pharmaceuticals Holdings Inc. (NASDAQ:CRBP)
Corbus Pharmaceuticals Holdings is a clinical stage pharmaceutical company focused on the development and commercialization of novel therapeutics to treat rare, chronic, and serious inflammatory and fibrotic diseases.
2 Cannabinoid Biotech Companies Added to NASDAQ Biotechnology Index
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/12/11/2-Cannabinoid-Biotech-Companies-Added-to-NASDAQ-Biotechnology-Index
This past Friday, Nasdaq (NASDAQ:NDAQ) announced the results of the annual re-ranking of the NASDAQ Biotechnology Index, which will become effective prior to market open on Monday, December 18, 2017.
While there were 54 biotech companies being added to the index, and another 15 companies being removed, what caught our attention was the fact that two of the companies being added have cannabinoid-related drugs in their pipelines.
This is a big deal given how many dollars worth of assets are tied to these indices. For instance, the iShares NASDAQ Biotechnology ETF (NASDAQ:IBB) has over $9.5 billion in assets under management.
REST OF ARTICLE: https://www.dailymarijuanaobserver.com/single-post/2017/12/11/2-Cannabinoid-Biotech-Companies-Added-to-NASDAQ-Biotechnology-Index