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Aurora Rebuts CanniMed's Call for Government Intervention
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/12/11/ACB-ACBFF-Aurora-Rebuts-CanniMeds-CMED-CMMDF-Call-for-Government-Intervention
VANCOUVER, Dec. 11, 2017 /CNW/ - Aurora Cannabis Inc. ("Aurora") (TSX:ACB) (OTC:ACBFF) (Frankfurt: 21P; WKN: A1C4WM) today responds to the call by CanniMed Therapeutics Inc. ("CanniMed") CEO Brent Zettl for intervention by the Government of Saskatchewan to block Aurora's generous offer to acquire all issued and outstanding shares of CanniMed.
According to a December 8, 2017 report in the Saskatoon Star Phoenix newspaper, Mr. Zettl sent a letter to Members of the Saskatchewan Legislative Assembly, asking for the provincial government to intervene and stop the proposed transaction, which offers CanniMed shareholders a premium of 57% over the price at which CanniMed's stock was trading prior to Aurora's expression of interest. According to the Star Phoenix article, Mr. Zettl suggested that government support of CanniMed's management was needed to "keep jobs in the province, [ensure] our patients receive quality product when they need it, and [generate] the kind of returns our shareholders deserve."
Mr. Zettl's comments are misleading. CanniMed's facilities in Saskatchewan are a central element of Aurora's interest in CanniMed, and Aurora has previously stated publicly that the Company intends to continue to invest in and expand operations and employment in Saskatchewan. Such investment will include accelerating the pace of completion of CanniMed's expansion project, and elevating the quality of CanniMed's production practices and standard operating procedures to achieve European Union (EU) Good Manufacturing Practices (GMP) certification – which Aurora has already achieved at its Aurora Mountain facility in Cremona, Alberta.
With respect to shareholder returns, CanniMed's performance has been among the poorest in the cannabis sector. CanniMed's share price increased only 27.5% between its Initial Public Offering on December 29, 2016 and Aurora's offer to acquire CanniMed on November 13, 2017. By comparison, Aurora's share price increased by 180% over the same period.
The Star Phoenix reported that the Government of Saskatchewan rejected the CanniMed CEO's gambit, with a spokesperson stating that the Ministry of Economy "views this strictly as a commercial transaction, and will not be commenting further."
"This is the latest in a series of increasingly desperate schemes by CanniMed management that would have the effect of disenfranchising their own shareholders and preventing them from exercising their fundamental rights," said Terry Booth, CEO of Aurora. "We made a bona fide offer, featuring a compelling premium that 38% of existing CanniMed shareholders immediately supported and continue to support through lockup agreements, including two prominent Saskatchewan-based investment funds. We had hoped to make this a friendly and collaborative process, but Mr. Zettl refuses to even pick up the phone or return our calls to have a discussion. So we took our offer directly to CanniMed shareholders. In response, CanniMed's management and Board adopted several poison pills that will have the effect of diluting CanniMed's stock, draining the company's cash resources and directly taking money out of its shareholders' pockets. Now, management, in a last ditch effort, has tried and failed to use the provincial government to keep them in control and protect them from their own shareholders. That's not what I call acting in the best interests of their shareholders."
"We have very ambitious plans for CanniMed's footprint in Saskatchewan, including the establishment of a medical cannabis centre of excellence, supported by significant additional investment, employment and local economic development," added Mr. Booth. "It's time for Mr. Zettl to step aside and allow CanniMed shareholders and the Province of Saskatchewan to benefit from the Aurora-CanniMed combination and the creation of a powerhouse leader in the global cannabis sector."
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 19.18% 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 Board of Directors,
AURORA CANNABIS INC.
Terry Booth
CEO
SHAREHOLDER QUESTIONS
Questions may be directed to Aurora's 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"), including, but not limited to the performance of the Company. 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 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.
EVIO to Purchase Licensed Cannabis Laboratory in Northern California
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/12/11/EVIO-to-Purchase-Licensed-Cannabis-Laboratory-in-Northern-California
BEND, Ore., Dec. 11, 2017 (GLOBE NEWSWIRE) -- via NetworkNewsWire -- EVIO, Inc. (OTC:EVIO), a life sciences company and leading provider of quality control testing and advisory services to the regulated cannabis industry, announced today that it has signed a non-binding letter of intent to acquire 60% of C3 Labs, LLC. This acquisition fast tracks EVIO Labs’ expansion into Northern California to meet the upcoming demand for analytical testing services.
Located in Berkeley, CA, C3 Labs has been serving the cannabis industry since 2015. C3 Labs has been issued a Cannabis Research and Development business license by the City of Berkeley that permits them to provide cannabis scientific research, product design, development and testing. C3 Labs was one of the nation’s first, true, cannabis-focused contract research organization (CRO), with both field services and a state of the art research center in beautiful Berkeley, California. C3 Labs’ highly experienced scientists and engineers utilize cutting edge technology to support their customers in analytical chemistry, process chemistry, formulations, and engineering.
“We are very excited about the partnership with C3 Labs, LLC. The 8,000 square foot facility is ideally suited to become our Northern California hub laboratory. Outfitted with the latest analytical testing equipment, the laboratory is prepared to commence testing to meet California’s January 1, 2018 Cannabis testing requirements,” commented William Waldrop EVIO CEO, “C3 Labs been serving the cannabis industry for years, providing product formulation, research and development services that aligns with EVIO’s longer term strategy to expand our scope of services. We are working to close this transaction in an expeditious manner to begin serving the California market by first quarter 2018.”
Waldrop continued, “This acquisition represents a significant development for EVIO as the Company continues to focus on increasing market share in the state of California. Demand for testing services is expected to increase significantly as the state rolls out its adult-use marijuana market. This will be a transformational acquisition for EVIO as it enhances the Company’s position within the California market.”
C3 Labs applies technologies employed by the food product and pharmaceutical industries to ensure that growers and processors operate in a fully compliant and quality manner and helps clients maintain the highest level of safe and effective medicinal products. Their staff has over 40 years of collective hands-on analytical expertise working in the Pharmaceutical and Petrochemical industries with 7 years of experience consulting to the FDA, USDA, and EPA, as well as the companies regulated by these agencies.
The proposed transaction is subject to customary closing conditions, including both parties completing due diligence and obtaining any approvals from applicable local authorities. The closing is conditional on negotiating final agreements in addition to the other closing conditions. Assuming completion of these conditions, the transaction is expected to close in the first quarter of 2018.
About EVIO, Inc.
EVIO, Inc. is a life sciences company focused on analyzing cannabis as a means for improving quality of life. The Company provides analytical testing services, advisory services and performs product research in its accredited laboratory testing facilities. The Company’s EVIO Labs division operating coast-to-coast provides state-mandated ancillary services to ensure the safety and quality of the nation's cannabis supply.
For more information, visit www.eviolabs.com
Safe Harbor Statement
Any statements in this press release that are not statements of historical fact maybe considered to be forward-looking statements. 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. 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 www.sec.gov or www.eviolabs.com
MPX Receives Approval for GreenMart of Nevada NLV License Transfer
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/12/11/MPX-MPXEF-Receives-Approval-for-GreenMart-of-Nevada-NLV-License-Transfer
TORONTO, Dec. 11, 2017 (GLOBE NEWSWIRE) -- MPX Bioceutical Corporation (the “Company” or “MPX”) (CSE:MPX) (OTC:MPXEF) today announced that the Company, through its wholly-owned U.S. subsidiary, CGX Life Sciences Inc., has been granted both Municipal and State approval for the license transfer of GreenMart of Nevada NLV, LLC (“GreenMart”), an award winning licensed cultivation, production and wholesale business located in Las Vegas, Nevada. Further to the Company’s announcement on October 13, 2017, this formally completes the acquisition of 99% of the membership units of GreenMart. The total consideration for the acquisition is US$17.81 million, payable as follows: (a) US$9.5 million, non-interest bearing promissory note, payable in full on or before June 30, 2018; and (b) US$8.31 million in units of the Issuer, each unit, priced at CAD$0.75 consisting of one full common share and one quarter of one warrant to acquire one common share at CAD$0.75 for a period of twenty-four (24) months. Pursuant to the acquisition, the Company issued 14,103,732 common shares and 3,525,934 warrants. The Company determined the number of units issuable pursuant to this acquisition by deeming the United States dollar / Canadian dollar currency conversion rate applicable for the issuance of units as 1.2729 Canadian dollars for each US$1.00 resulting in approximately $10,577,799 for the US$8,310,000 portion of the purchase price settled pursuant to the issuance of units.
“We are very pleased to have been granted license approval and we look forward to servicing the Nevada medical and adult use markets under the award-winning “MPX” concentrates and “LK Infusions” edibles brands,” stated Scott Boyes, Chairman, President and CEO of MPX.
GreenMart currently owns cultivation and production licenses for both the medical and “adult use” sectors and is already selling wholesale into the Nevada medical cannabis market. The business has also optioned suitable locations and intends to enter the higher-margin retail arena by applying for at least two dispensary licenses in the Las Vegas market which will operate under the “Health for Life” brand.
“Acquiring GreenMart gives us a meaningful head start towards establishing market share in the new adult use market in Nevada which is estimated to grow to US$630 million by 2020,” added Mr. Boyes. “We are encouraged by the strong demand we are seeing in the Nevada market, and we anticipate that the addition of this Las Vegas enterprise will be materially accretive to MPX revenues and earnings in 2018.”
The North Las Vegas facility will produce approximately 1.6 million grams of high quality cannabis flower in 2018, 85,000 grams of MPX concentrates and a rapidly growing selection of cannabis-infused edibles under the LK Infusions label.
Beth Stavola, President of MPX’s U.S. operations added, “The Nevada operation is fully-staffed and operational. In managing the Las Vegas business, we will be leveraging the operational and commercial best practices developed at our highly successful Health for Life and MPX brands in Arizona. We anticipate that doing so will help accelerate market share development in a sizeable and growing Nevada market.”
Nevada market
In November 2016, Nevada voted in favor of ‘Question 2’, setting in motion the process towards legalization of adult use of cannabis in the state. While Nevada has a relatively limited population of 2.8 million, Las Vegas, where GreenMart is located, welcomes approximately 42 million visitors annually, making tourism a key driver of anticipated market growth. The Brightfield Group ranks Nevada the 4th best state in the U.S. to make cannabis related investments (Source: Brightfield Group), above Washington (5th) and California (6th). ArcView Market Research projects annual legal cannabis sales in Nevada to grow at a compound annual growth rate of 51%, to an estimated US$630 million by 2020 (Source: Arcview - http://mwne.ws/2o0pFcR).
Nevada recognizes five different licenses related to cannabis, cultivation, production, retail, laboratory testing and transportation.
About MPX Bioceutical Corporation
MPX, an Ontario corporation, through its wholly owned subsidiaries in the U.S., provides substantial management, staffing, procurement, advisory, financial, real estate rental, logistics and administrative services to two medicinal cannabis enterprises in Arizona operating under the Health for Life (dispensaries) and the award-winning Melting Point Extracts (high-margin concentrates wholesale) brands. The successful Health for Life brand operates in the rapidly growing Phoenix Metropolitan Statistical Area (MSA). In addition to GreenMart in Nevada, the Company also owns assets in Massachusetts, supporting cultivation, production and up to three dispensaries in Massachusetts, as well as is supporting development of a third licensed dispensary in Arizona.
MPX continues to expand its U.S. footprint, being in the process of acquiring management companies that provide operational and other services to three dispensaries and a production license in Maryland. The Company also leases a property in Owen Sound, Ontario, for which an application to Health Canada has been made for a cannabis production and sales license. In addition, the Company will continue its efforts to develop its legacy nutraceuticals business.
Cautionary Statement Regarding Forward-Looking Information
This news release includes certain “forward-looking statements” under applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to, MPX’s objectives and intentions. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic and social uncertainties; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; delay or failure to receive board, shareholder or regulatory approvals; those additional risks set out in MPX’s public documents filed on SEDAR at www.sedar.com; and other matters discussed in this news release. Although MPX believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, MPX disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
On behalf of the Board of Directors
MPX Bioceutical Corporation (formerly The Canadian Bioceutical Corporation)
W. Scott Boyes, Chairman, President and CEO
Anyone else see the MAJOR volume today on STNY? 21k shares traded so far, and average is around 1k.
Also the company was featured in Investopedia on Friday as one of their pot stock winners last week
https://www.investopedia.com/pot-stock-winners-of-the-week/?ad=dirN&qo=investopediaSiteSearch&qsrc=0&o=40186
CLS Holdings Begins Private Offering of Units
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/12/08/CLSH-CLS-Holdings-Begins-Private-Offering-of-Units
This morning, CLS Holdings USA, Inc. (OTC:CLSH) filed a Form 8-K with the SEC to announce that the company has commenced a private offering of its securities pursuant to Rule 506(c) under the Securities Act of 1933.
LINK TO 8-K: https://www.dailymarijuanaobserver.com/single-post/2017/12/08/CLSH-CLS-Holdings-Begins-Private-Offering-of-Units
CLS Holdings is offering for sale a minimum of 1,800,000 units and a maximum of 4,000,000 units at a price of $1.25 per unit. Each unit consists of four shares of common stock and one warrant to purchase common stock at $0.75 per share.
Assuming the company sells the minimum units by January 17, 2018, which date may be extended by up to 60 days in the sole discretion of the company, the common stock and warrants issued at closing will be restricted securities.
Acquisition of Oasis Cannabis
According to the filing, CLSH intends to use the proceeds of the private offering primarily to make certain payments required under its definitive agreement to purchase the membership interests of three companies from Alternative Solutions, LLC, a revenue-producing vertically integrated cannabis business with operations in Las Vegas, Nevada.
The aforementioned definitive agreement to acquire Oasis Cannabis was just announced earlier this week. Founded in 2015, Oasis has established itself as one of the top marijuana retailers in the state of Nevada, offering in-store and delivery service to its customers. Oasis is currently generating approximately $650,000 per month in gross revenue through retail cannabis sales.
Veritas Pharma Hires Medical Director to Support Clinical Development
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/12/08/VRT-VRTHF-Veritas-Pharma-Hires-Medical-Director-to-Support-Clinical-Development
VANCOUVER, British Columbia, Dec. 08, 2017 (GLOBE NEWSWIRE) -- Veritas Pharma Inc. (CSE:VRT) (OTC:VRTHF) (Frankfurt:2VP), (“Veritas” or the “Company”) is pleased to announce the hiring of Dr. M. Scott Alexander as the Company’s Medical Director. He will ensure the medical integrity of Cannevert Therapeutics Ltd. cannabis research programs and develop the medical affairs strategy to support their cannabis strains currently in preclinical and clinical development.
Dr. Alexander’s primary duties will be to advise physicians and regulators on the application of Cannevert’s experimental results with specific cannabis strains to their clinical practice and public policy. He will specifically address their current concerns and need for a standardized medical cannabis product that can be dosed and delivered reliably for a consistent therapeutic effect with minimal side effects. Dr. Alexander is committed to following the principles of translational medicine and developing strong partnerships with patient advocacy groups and colleges of family physicians to share his understanding of the potential benefits and risks of medical cannabis.
Veritas’ CEO, Dr. Lui Franciosi, stated, “Dr. Alexander brings a wealth of medical knowledge, a clear understanding of current clinical practice and regulatory needs, and a pledge to educate all stakeholders about therapeutic strains that are based on Cannevert’s experimental evidence.”
About Dr. M. Scott Alexander, MBBS
Dr. Alexander completed his medical degree at the University of Queensland in Brisbane, Australia. He earned his undergraduate and Master’s degree at Simon Fraser University in Burnaby, Canada. His Master’s thesis concerned neuroscience, in particular, motor deficits in older adults with age-related macular degeneration. His research led to recommendations to civil engineers in designing enhanced environments for people with low-vision. Dr. Alexander’s undergraduate honour’s thesis was in behavioral neuroscience. He examined how perceptual shifts in visual input altered motor maps in the brain through the posterior parietal cortex leading .to long-term adaptations. This research has been shown to help improve locomotor function in individuals who have suffered debilitating strokes. During medical school, Dr. Alexander led two research projects. One was a study in knowledge translation in the early detection and prevention of dementia within the Centre for Research in Geriatric Medicine. He coordinated Family Physician focus groups and extracted qualitative data from their conversations to drive practical research in dementia. The second was validated a frailty assessment tool in rehabilitation inpatients which monitored patient progress daily while in hospital.
About Veritas Pharma Inc.
Veritas Pharma Inc. is an emerging-stage pharmaceutical and IP development company, who, through its 80% owned Cannevert Therapeutics Ltd. ("CTL"), is advancing the science behind medical cannabis. It is the Company aim, through its investment in CTL, to develop the most effective cannabis strains (cultivars) specific to pain, nausea, epilepsy and PTSD, solving the critical need for clinical data to support medical marijuana claims. CTL’s unique value proposition uses a low-cost research and development model to help drive shareholder value, and speed-to-market. Veritas investment in CTL is led by strong management team, bringing together veteran academic pharmacologists, anesthetists & chemists. The company's commercial mission is to patent protect CTL’s IP (cultivars & strains) and sell or license to cancer clinics, insurance industry and pharma, targeting multi-billion dollar global markets.
Veritas Pharma Inc. is a publicly traded company which trades in three countries including Canada, on the Canadian Securities Exchange under the ticker VRT; in the United States, on the OTC under the ticker VRTHF; and in Germany, on the Frankfurt exchange under the ticker 2VP.
For more information, please visit our website: veritaspharmainc.com
The CSE has not reviewed, nor approved or disapproved the content of this press release.
Province of Newfoundland and Labrador Enter Agreement with Canopy Growth
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/12/08/WEED-TWMJF-Province-of-Newfoundland-and-Labrador-Enter-Agreement-with-Canopy-Growth
ST. JOHN'S & SMITHS FALLS, ON, Dec. 8, 2017 /CNW/ - Canopy Growth Corporation ("Canopy Growth" or the "Company") along with representatives from the Province of Newfoundland and Labrador today are pleased to announce that the Company has entered into a supply and production agreement, the largest provincial cannabis supply agreement announced to date, securing a regulated supply of cannabis for Newfoundlanders and Labradorians heading into the legal adult access market.
Canopy Growth will supply 8,000 kg of high quality cannabis products annually for the first two years of the deal. Under the terms of the agreement, Canopy Growth will establish a new production facility in Newfoundland and Labrador capable of producing 12,000 kg per year, bringing 145 jobs in an emerging sector and major capital investment to the region. Site locations are being evaluated to house what could be the first licensed production facility in the province.
"This agreement today with an internationally recognized producer not only guarantees a safe supply of cannabis for Newfoundland and Labrador before the federally imposed July 2018 implementation date, but also results in the creation of 145 new jobs in our province," said the Honourable Christopher Mitchelmore, Minister of Tourism, Culture, Industry and Innovation, Newfoundland and Labrador. "We will also use this as a framework for other agreements related to cannabis supply and production. Our vision is for an industry which leads to production, job creation, supply chain development and research and development in this province."
"Canopy's operations will soon stretch from Coast to Coast, with locations now planned in seven provinces including Newfoundland and Labrador," said Bruce Linton, Chairman & CEO, Canopy Growth. "Wherever we operate we look for ways to integrate ourselves into the local community to make sure we are giving back to the communities we call home."
Canopy's wholly-owned subsidiary, Tweed Inc. ("Tweed") will also be eligible to apply to operate four new retail locations in the province. This would be a major milestone for Tweed, a leading brand in today's cannabis industry. These four licences would represent the first announced privately owned and operated legal cannabis retail locations in the country. Site scouting is underway, with two locations possible on the Avalon Peninsula, one west of the Avalon Peninsula, and another at the future production site. Canopy Growth and Tweed are also seeking retail locations at their production facilities in other provinces, a common practice for breweries and wineries across Canada.
Mr. Linton continued, "The Newfoundland and Labrador retail framework will allow us to take our existing e-commerce business and well-recognized house of brands including Tweed, DNA Genetics, Leafs By Snoop, and our CraftGrow program, and present that pride and dedication in a "brick and mortar" retail environment. I want to congratulate the Government of Newfoundland and Labrador for choosing a retail model that encourages local growth and a made-at-home experience, while balancing private and public involvement."
Tweed has a long track record of responsible cannabis sales as a medical producer and has partnered with organizations like MADD Canada and Parent Action on Drugs to ensure Canada exits prohibition in a responsible way. The Company looks forward to establishing welcoming and warm retail spaces that prioritize top-notch customer service and product education, supported by Canada's largest cannabis production platform and a wide number of CraftGrow partnerships to bring cannabis of all forms and sizes to the people of Newfoundland & Labrador.
Here's to Future Growth (on the Rock).
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 square feet of production capacity, including over 500,000 square feet 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.
New Age Farm Signs LOI To Acquire Denver-Based CBD Company
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/12/07/NF-NWGFF-New-Age-Farm-Signs-LOI-To-Acquire-Denver-Based-CBD-Company
VANCOUVER, BC / ACCESSWIRE / December 7, 2017 / New Age Farm Inc. (CSE:NF) (OTC:NWGFF) (FSE: 0NF) (www.newagefarminc.com) ("New Age Farm" or the "Company") has entered into a letter of intent to acquire 100% of the Denver-based CBD company, We Are Kured LLC ("We Are Kured"). We Are Kured is an innovative online CBD and lifestyle company. The company has partnered with best in class hemp cultivators, edible manufacturers, cutting edge product formulators to develop, market and distribute multiple lines of CBD products including, but not limited to, CBD vaporizer pens, topicals, gel capsules and more. All of We Are Kured's products are 100% THC free and will be available for purchase internationally. THC, or tetrahydrocannabinol, is the primary active ingredient in cannabis.
Under the terms of the letter of intent (the "LOI"), New Age Farm and We Are Kured will work toward a definitive agreement (the "Definitive Agreement") expected to take place before the end of December 2017 wherein New Age Farm will acquire all the assets of We Are Kured in exchange for $1,150,000 payable in cash and shares.
We Are Kured is led by Benjamin Martch, an active cannabis marketing entrepreneur and leader. Mr. Martch has assembled a team of leaders that has each made his or her mark in their respective sectors ranging from cannabis, finance, retail and horticulture to professional sports. Together, We Are Kured's team operates some of the world's premier cannabis companies with operations in Colorado, Oregon, Massachusets, Maryland and California. We Are Kured intends to become an industry leader in the legal worldwide marketplace.
Unlike THC, CBD (short for Cannabidiol), is a non-psychoactive cannabinoid and does not result in any type of high and can be legally extracted from the hemp plant and consumed.
Earlier this year, Forbes reported that "hemp-derived cannabidiol (CBD) is projected to be a billion-dollar market in just three years, according to a new report by Brightfield Group. The data company estimates that hemp CBD sales have already hit $170 million in 2016 and a 55% compound annual growth rate over the next five years will cause the market to crack the billion-dollar mark". Forbes further reported that, "Brightfield determined that 64.5% of the sales come through the online channel followed by 17.8% at smoke shops. Dispensaries were third, with 9% of the sales and health stores and doctor's offices rounded out the top five."
Benjamin Martch graduated from Colorado State University in 2007, majoring in Merchandising and Marketing. He is an industry leader in Marketing and Event Production as well as the Cannabis industry.
Since 2009, he has held multiple positions among dispensary groups throughout Colorado, including as General Manager of three Frosted Leaf dispensary locations. Subsequently, he became the Marketing Director at one of Denver's original dispensaries, Lightshade. As Marketing Director of Lightshade, the store's foot traffic increased significantly in less than five months. Mr. Martch also produced Denver's first concert event based solely on cannabis named SMOKEDOWN with performances from Method Man and Redman following which he founded a digital marketing agency. His clientele includes many top companies. Mr. Martch is involved in all aspects of the cannabis industry including as an organizer of events and festivals. More details of his involvement in events can be found at Mr. Martch's LinkedIn profile at https://www.linkedin.com/in/benmartch/.
Mr. Carman Parente, president and CEO of New Age Farm commented, "We are very pleased at the immense opportunity We Are Kured will bring to New Age Farm to enter into a whole new sector of the cannabis industry. This will provide our stakeholders with another potential revenue stream in an established and growing industry. With his cannabis, event production and business development history in Colorado, Oregon and California we are excited to have a charismatic leader like Ben Martch join our team."
All amounts cited in this news release are in Canadian dollars. This transaction is subject, among others, to the approval of the Canadian Securities Exchange, regulators and the Company's board of directors.
About New Age Farm
Washington State
New Age Farm is an agricultural services company offering unique turnkey growing infrastructure and services for licensed growers and processors of luxury marijuana crops at three agri-campuses in Washington State.
In November 2012, the Washington State Liquor and Cannabis Board ("WSLCB") passed Initiative 502 ("I-502") pursuant to a vote by the people of the State of Washington. I-502 authorized the WSLCB to regulate and tax recreational marijuana products for persons over twenty-one years of age and thereby created a new industry for the growing, processing and selling of Washington State-regulated recreational marijuana products In compliance with state regulatory requirements, New Age Farm's facilities feature 24-hour security that enhances the safety and security of the community, our tenant-growers, and their operations. All New Age Farm's tenant-growers hold either Tier 2 or Tier 3 licenses allowing them to produce and/or process marijuana for sale at wholesale to marijuana processor licensees and to other marijuana producer licensees. A Tier 3 license allows for between ten thousand square feet and thirty thousand square feet of dedicated plant canopy while Tier 2 licensees can have up to ten thousand square feet of dedicated plant canopy. Revenue is generated on a base lease rate and the level of service that the tenant-grower requires for its production and/or its processing needs.
For further information about New Age Farm, please consult the Company's profile on SEDAR at www.sedar.com.
On Behalf of the Board Of Directors
Carman Parente
President and Chief Executive Officer
cparente@newagefarminc.com
For Further Information Contact
Corporate Communications
corpcom@newagefarminc.com
888-871-3936
WWW.NEWAGEFARMINC.COM
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.
This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to completion of planned improvements at both the Canadian and US sites on schedule and on budget, the availability of financing needed to complete the Company's planned improvements on commercially reasonable terms, planned occupancy by the tenant-growers, commencement of operations, differences in yield on expected harvests, delays in obtaining statutory approval for marijuana production plans, issues that may arise throughout the grow period, outdoor crops affected by weather, the ability to mitigate the risk of loss through appropriate insurance policies, and the risks presented by federal statutes that may contradict local and state legislation respecting legalized marijuana. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required under applicable securities legislation. This news release does not constitute an offer to sell securities and the Company is not soliciting an offer to buy securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
This news release does not constitute an offer of securities for sale in the United States. These securities have not and will not be registered under United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States or to a U.S. Person unless so registered, or an exemption from registration is relied upon.
Future Farm Preps For Spin Off of Augmented Reality Cannabis Company
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/12/07/FFT-FFRMF-Future-Farm-Preps-For-Spin-Off-of-Augmented-Reality-Cannabis-Company
Vancouver, British Columbia, Dec. 07, 2017 (GLOBE NEWSWIRE) -- Future Farm Technologies Inc. (the “Company” or “Future Farm”) (CSE:FFT) (OTC:FFRMF) is pleased to announce that it has engaged RwE Growth Partners Inc. to conduct a business valuation and fairness opinion on its recently acquired augmented reality asset (see links to Augmented Reality Presentation and Demo Video). The work is being done in preparation for a stock dividend, which will be issued to shareholders of record upon spin off that is expected to occur within the next 120 days.
“We believe that in order to maximize shareholder value, spinning off this asset is in the best interest of our shareholders,” comments William Gildea, CEO of Future Farm. “Once spun off, Future Farm’s shareholders will own shares in a new company traded on the CSE, with a singular focus on bringing augmented reality to the cannabis industry.”
The augmented reality market is set to grow substantially in the near future as companies such as Apple, Google, Microsoft, and Intel are now aggressively launching software and hardware to support this dynamic and fast growing industry. Once the spin off is complete, Future Farm shareholders will own shares in a newly formed company occupying a valuable niche in the cannabis market with augmented reality enhanced packaging as well as an ad-tech driven platform for dispensaries.
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.
Canabo Announces Launch of its Canada-Wide VIP Program
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/12/07/CMM-CMMDF-Canabo-Announces-Launch-of-its-Canada-Wide-VIP-Program
Vancouver, British Columbia--(Newsfile Corp. - December 7, 2017) - Canabo Medical Inc. (TSXV:CMM) ("Canabo" or the "Company") is pleased to announce the launch of its VIP program for patients who would prefer a medical consultation in the privacy of their workplace or home as opposed to visiting one of the Company's 22 operating clinics across Canada.
Due to high demand and as a compliment to our previously announced Self Referral Sleep Aid program, Canabo is expanding the scope of its services to include a VIP telemedicine option, thereby giving patients access to a physician from their office or home. This will be a self referral program with patients screened through our National Call Centre (1-888-282-7763).
Canabo will charge an annual membership fee of $300 which includes;
Office and/or Home Telemedicine Calls
Full Access to National Call Centre with 24hr support response time
Follow-up Care Program
Full Access to Cannabis Educational program
Dr. Michael Verbora, Canabo's Medical Director commented; "Our goal at Canabo is to ensure all patients have access to proper consultation and advice on the use of medical cannabis. The new program will provide a high level of convenience for individuals who find it difficult to visit a busy medical office. Our team of practitioners can now utilize technology to assess patients for consideration for cannabinoid therapy."
About the Company
Canabo wholly owns and operates Cannabinoid Medical Clinics, or CMClinics, Canada's largest physician led referral-only clinics for medical cannabis. Established in 2014, Canabo now has 22 clinics across Canada, with additional locations planned to open in 2018. Canabo operates referral-only medical clinics dedicated to evaluating the suitability of prescribing and monitoring cannabinoid treatments for patients suffering from chronic pain and disabling illnesses. Clinics operated by Canabo are staffed by physicians and qualified health care practitioners specifically trained to assess patient suitability for cannabinoid treatment, recommend treatment regimes, and monitor treatment progress.
Forward Looking Statements
Except for historical information, this press release contains forward-looking statements, which reflect Canabo Medical Inc.'s current expectations regarding future events. These forward-looking statements involve known and unknown risks and uncertainties that could cause Canabo's actual results to differ materially from those statements. Those risks and uncertainties include, but are not limited to, the Company's ability to access capital, the successful and timely completion of opening clinics, regulatory changes, competition, approvals and other business and industry risks.
The forward-looking statements in this press release are also based on a number of assumptions which may prove to be incorrect. Forward-looking statements contained in this press release represent views only as of the date of this release and are presented for the purpose of assisting potential investors in understanding Canabo's business and may not be appropriate for other purposes. Canabo does not undertake to update forward-looking statements, whether written or oral, that may be made from time to time by, or on its behalf, except as required under applicable securities legislation. Investors are cautioned not to rely on these forward-looking statements and are encouraged to consult with a professional investment advisor.
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.
Namaste Achieves Record November Sales of $2.2 Million CAD
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/12/07/N-NXTTF-Namaste-Achieves-Record-November-Sales-of-22-Million-CAD
VANCOUVER, B.C., Dec. 07, 2017 (GLOBE NEWSWIRE) -- Namaste Technologies Inc. (“Namaste” or the “Company”) (CSE:N) (OTCQB:NXTTF) (FRANKFURT:M5BQ) is pleased to announce record breaking sales for the month of November 2017, as reported by the Company (including shipping revenues after discounts and refunds) of C$2.2M, equating to a 69% month-on-month increase and a 146% year-on year increase, representing Namaste’s highest month of revenue in the Company’s history. In addition to achieving record breaking sales, the month of November has been transformational for Namaste. The Company’s exponential growth further validates that many initiatives which management has implemented over the past year have been overwhelmingly successful. Namaste has grown and consolidated the cannabis ancillary product industry to become the largest business-to-consumer retailer for vaporizers and smoking products globally. Namaste, through its wholly owned subsidiary, Cannmart Inc. (“CannMart”), and through the launch of NamasteMD Inc. (“NamasteMD”), believes that the Company is positioned to become a global leader for medical cannabis sales.
The table below displays a breakdown of Namaste’s gross revenue by sales channel. Total un-audited net revenue as reported by the Company (including shipping revenues after discounts and refunds) were C$2,221,340 in November 2017 compared to C$1,313,653 in October 2017, a 69% increase due to higher revenues from all revenue channels. Year on year revenues increased 146% in November 2017 compared with November 2016. In addition to the overwhelming success of Namaste’s Black Friday and Cyber Monday sales campaigns, the Company has also seen strong revenue growth in other sales channels.
REST OF ARTICLE: https://www.dailymarijuanaobserver.com/single-post/2017/12/07/N-NXTTF-Namaste-Achieves-Record-November-Sales-of-22-Million-CAD
Two Firms Reiterate Buy Rating for GW Pharmaceuticals
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/12/05/GWPH-Two-Firms-Reiterate-Buy-Rating-for-GW-Pharmaceuticals
Two different firms have recently reiterated their buy ratings for shares of GW Pharmaceuticals Plc (NASDAQ:GWPH) closely following the company's filing of year-end financial and operational results. The two analysts' price targets are over $40 apart, so we wanted to fill in existing and prospective investors on the recent development.
Cowen & Co.
Phil Nadeau, the managing director and senior research analyst on the biotechnology team at Cowen & Co., reiterated his buy rating on shares of GWPH. Higgins' price target for the stock is $165.00 per share. At the time of writing this, shares of GW Pharmaceuticals were trading at $111.81 per share, representing over 47% potential upside.
Nadeau's $165 price target is just south of the average analyst price target of $208, according to TipRanks. The $165 price target is also far below the price target from Elemer Piros at Cantor Fitzgerald.
Cantor Fitzgerald
Elemer Piros, Ph.D., a healthcare and biotechnology analyst from Cantor Fitzgerald, also reiterated his buy rating on shares of GWPH. Piros' price target for the stock is $208.00 per share. At the time of writing this, shares of GW Pharmaceuticals were trading at $111.81 per share, representing over 86% potential upside.
According to TheFly, "The analyst notes that before the end of 2017, the FDA will announce whether GW's New Drug Application filing has been accepted for review."
This is the highest price target out of the three analysts covering the company.
Friday Night to Produce Concentrates for Nevada Dispensary Chain
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/12/06/Friday-Night-Signs-Concentrates-Production-Contract-with-NV-Dispensary
VANCOUVER, BC / ACCESSWIRE / December 6, 2017 / Friday Night Inc. (Friday Night) (CSE:TGIF) (FRA:1QF) (OTC:TGIFF) is pleased to announce that Alternative Medicine Association (''AMA'') has signed a production contract to produce high-grade concentrates for a major dispensary chain in Nevada.
The contract specifies:
The Nevada dispensary chain will supply trim as the raw material to AMA, who will then extract and process the materials into high grade concentrates
The dispensary will provide a minimum of 100 pounds of trim each month to AMA
The raw material is subject to third party testing to ensure only the highest quality ingredients are used to make the finished concentrates
AMA estimates they will produce over 20,000 half-gram units every month
The finished products will be packaged and co-branded with AMA branding
AMA's head of extraction commented: ''We have the lab and the expertise, so this agreement fits our business operations perfectly in an environment where raw material is in short supply.''
The first batch of raw material (trim) has been delivered to AMA, weighed more than 150 pounds and tested showing excellent results.
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.
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.
Aurora Involved in $1.9 MM Lawsuit - Here's Their Side
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/12/05/ACB-ACBFF-Aurora-Involved-in-19-MM-Stock-Option-Lawsuit
According to an article published yesterday on Stockwatch, Aurora Cannabis Inc. (TSX:ACB) (OTC:ACBFF) is "a defendant in a lawsuit filed in the Supreme Court of British Columbia over a stock option allegedly worth $1.9-million."
The article alleges that Electrum Partners LLC of Las Vegas, Nevada entered into a consulting agreement with Aurora on March 16, 2015 where "as part of that agreement it received an option to buy 300,000 shares of Aurora at 39 cents."
The consulting agreement terminated after a year, but the option was to be exercisable for five years, or until March 16, 2020, according to Electrum. Apparently, Electrum sent a $117,000 check to Aurora which represents the full amount, but then "Aurora advised both orally and in writing that it was repudiating the stock option."
REST OF ARTICLE: https://www.dailymarijuanaobserver.com/single-post/2017/12/05/ACB-ACBFF-Aurora-Involved-in-19-MM-Stock-Option-Lawsuit
Aurora Cannabis Completes Larssen and H2 Biopharma Acquisitions
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/12/05/ACB-ACBFF-Aurora-Cannabis-Completes-Larssen-and-H2-Biopharma-Acquisitions
VANCOUVER, Dec. 5, 2017 /CNW/ - Aurora Cannabis Inc. (the "Company" or "Aurora") (TSX:ACB) (OTC:ACBFF) (Frankfurt: 21P; WKN: A1C4WM) today announced that, further to its press releases of November 23, 2017, the Company has completed the acquisitions of Larssen Ltd, a globally leading greenhouse engineering and design consultancy, and that of H2 Biopharma, a late-stage ACMPR applicant based in Quebec.
Larssen has set the industry standard in high-tech, automated, environmentally controlled greenhouses for over 30 years, has consulted on the design, engineering, and construction oversight of many of the world's most advanced greenhouse cultivation facilities, having been involved with over 1,000 projects around the globe. Larssen currently is involved in 15 cannabis projects, five of which are with Canadian Licensed Producers.
H2 is currently completing a state-of-the-art, purpose-built 48,000 square foot cannabis production facility (the "Lachute facility"), less than an hour from Montreal, which, upon completion, is projected to produce approximately 4,500 kilograms of high-quality cannabis per annum, with significant expansion potential on 46 acres (19 hectares) of land, which H2 has the right to acquire for $136,000. Aurora Larssen Projects Ltd. ("ALPS"), which was recently incorporated as Aurora's greenhouse design and consulting arm, will play an important role in the completion of this newest Aurora facility to EU GMP standards.
"These are two important acquisitions for Aurora that clearly show how our growing constellation of trusted partners and subsidiaries accelerate shareholder value creation through strategic synergies," said Terry Booth, CEO. "Larssen's pedigree in designing the world's most technologically advanced and efficient greenhouses will be leveraged for the completion of our new Lachute Facility. The addition of this latest facility will increase our capacity to serve the domestic and export markets, and signals our major commitment to operations in Quebec, Canada's second most populous province."
Tracking for $6 million in fiscal 2018 revenues, the Larssen transaction will be immediately accretive. Completion of the H2 facility is anticipated for early calendar 2018 with production, and therefore additional revenues, anticipated shortly thereafter.
In consideration of the H2 acquisition, Aurora has issued 4,789,273 common shares of Aurora to the H2 vendors, at a price of $5.22 per share, based on 90% of the VWAP of the Aurora common shares for the 5 days immediately prior to signing of the share purchase agreement. Of these shares, 1,728,718 are released to the H2 vendors immediately, and the remaining shares have been put into escrow and are subject to release to the H2 vendors or cancellation, based on the achievement of certain operational milestones.
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 19.18% 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".
On behalf of the Board of Directors,
AURORA CANNABIS INC.
Terry Booth
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 closing of the Acquisition and the performance of the Company, including, but not limited to, H2 Biopharma. 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 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.
Aurora Cannabis Increases Ownership Interest in Cann Group Ltd.
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/12/04/ACB-ACBFF-Aurora-Cannabis-Increases-Ownership-Interest-in-ASX-Cann-Group-Ltd
VANCOUVER and EDMONTON, Dec. 4, 2017 /CNW/ - Aurora Cannabis Inc. ("Aurora") (TSX:ACB) (OTC:ACBFF) (Frankfurt: 21P; WKN: A1C4WM) today announced that the Company is increasing its ownership stake in Cann Group Ltd ("Cann") (ASX:CAN) from 19.9% to 22.9% by participating in Cann's latest, fully underwritten Placement of Shares (the "Placement"), priced at AUS$2.50 per share (approximately CA$2.41).
Cann's Placement consists of an Institutional Share Placement ("ISP"), as well as a Share Purchase Plan ("SPP") for eligible, registered retail shareholders for total proceeds of up to AUS$60 million (~CA$58 million). Aurora will invest up to AUS$26 million (~CA$25.1 million) to increase its ownership participation to 22.9%. The Placement consists of three stages. The first AUS$50 million ISP stage has been completed, while the third and final stage is anticipated to complete on January 15, 2018. A detailed description of the Placement's terms and conditions, as well as Aurora's participation therein, can be found in Cann's press release issued today: http://bit.ly/2jHIa4A
Cann is Australia's first company licensed to do research on and cultivate cannabis for medical purposes. The Company currently has two small-scale facilities, and has commenced working on a Phase III, 172,000 square foot expansion. The funds raised will enable Cann to accelerate completion of this facility and ramp up production to meet demand, which is anticipated to grow rapidly.
"Cann is the leading cannabis company in Australia, having been awarded the first ever license, and funding the acceleration of its expansion plans makes strong strategic sense," said Terry Booth, Aurora's CEO. "The value of our initial $6.5 million investment, based on Cann's closing share price as of Friday 1 December 2017, has already increased ten-fold to $65 million, and we have strong confidence in the Cann team to continue executing on their expansion plan and generate further shareholder value in the process."
Additionally, the Company announced that Aurora's Chief Global Business Development Officer, Neil Belot, has been appointed to Cann's Board, effective 22 November 2017, further strengthening the ties between the two companies beyond the Technical Services Agreement ("TSA").
Mr. Belot added, "This investment and the services, genetics and consultancy we will be delivering to Cann under our TSA, will help to significantly accelerate Cann's development. Beyond the planned capacity expansion, we are also very excited about the scientific research conducted by Cann, its planned investments in product diversification, and its export potential. I look forward to being closely involved with the company, and actively support its development as member of the Board."
Cann Group CEO Peter Crock, stated, "We can now move ahead with full certainty on our phase 3 expansion program, which includes the development of a 16,000m2 greenfield facility, incorporating some 9,600m2 of flowering production area. In addition, we can progress plans for the development of further production sites located on a strategic basis to help mitigate production-related risks. The export opportunity is now being evaluated by the relevant authorities and I expect an announcement in the near future. Leading into 2018 and beyond, the Company will continue to deliver on its strategic objectives and milestones, with an immediate focus on the phase 3 expansion program."
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"). Aurora 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.
Aurora is invested in Radient, a leading extraction technology company, as well as 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 Cann
Cann is building a world-class business focused on breeding, cultivating and manufacturing medicinal cannabis for sale and use within Australia. The Company has established research and cultivation facilities in Melbourne and is striving to provide access to medicinal cannabis for Australian patients. Cann has executed collaboration agreements that will enable it to establish a leading position in plant genetics, breeding, extraction, analysis and production techniques required to facilitate the supply of medicinal cannabis for a range of diseases and medical conditions. It was issued with Australia's first medicinal cannabis research licence in February 2017, in addition to Australia's first medicinal cannabis cultivation licence in March 2017. Aurora Cannabis Inc – Canada's second largest listed medicinal cannabis company – is a cornerstone investor in Cann, with a 22.9% shareholding.
On behalf of the Board of Directors,
AURORA CANNABIS INC.
Terry Booth, 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 investment in Cann Group by Aurora and the use of the proceeds thereof by Cann Group. 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 Cann Group 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.
22nd Century Hires Former BAT Head of Plant Biotechnology
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/12/04/XXII-22nd-Century-Hires-Former-BAT-Head-of-Plant-Biotechnology
Juan Sanchez Tamburrino, Ph.D., will take over for retiring Michael R. Moynihan, Ph.D.
CLARENCE, N.Y.--(BUSINESS WIRE)--22nd Century Group, Inc. (NYSE:XXII), a plant biotechnology company focused on tobacco harm reduction and hemp/cannabis research, announced today the hiring of Juan Sanchez Tamburrino, Ph.D., as the Company’s Vice President of Research and Development. Dr. Tamburrino was previously the head of the Plant Biotechnology Division of British American Tobacco (NYSE:BTI).
Dr. Tamburrino earned his Ph.D. degree in molecular biology and genetics at the Weill Cornell Graduate School of Medical Sciences at Cornell University, a partnership program with the Sloan Kettering Cancer Research Institute. After completing six years of post-doctoral research in plant biology at the Rockefeller University in New York, Dr. Tamburrino served as an Associate Professor at Universidad Tarapacá in Chile before becoming the Research Manager at Pioneer Hi-Bred International (a DuPont company now known as DuPont Pioneer).
In 2009, Dr. Tamburrino was appointed the head of the Plant Biotechnology Division of British American Tobacco (BAT) in Cambridge, England. In this capacity, Dr. Tamburrino was responsible for biotechnology strategy related to tobacco leaf. Dr. Tamburrino established BAT’s molecular breeding and GMO programs and developed the world’s most complete tobacco genome sequence. Dr. Tamburrino’s industry experience includes extensive work in toxicant reduction strategies for tobacco, as well as gene mutation technologies and methods for agronomic trait improvements for a variety of commercial plants. Dr. Tamburrino also directed BAT’s international intellectual property strategies for leaf tobacco.
At 22nd Century, Dr. Tamburrino will assume the role of Vice President of Research and Development upon the retirement, at the end of this month, of Dr. Michael Moynihan. Dr. Moynihan has served as a key member of the 22nd Century management team for more than ten years and was responsible for overseeing the development of the nicotine technology that serves as the foundation for 22nd Century’s Very Low Nicotine and High Nicotine tobaccos. Having led the Company’s research and development group, regulatory affairs initiatives, plant breeding programs, and aggressive growth of 22nd Century’s intellectual property portfolio, Dr. Moynihan’s work has been instrumental in establishing 22nd Century as a leader in tobacco harm reduction. After his retirement, Dr. Moynihan will continue to support the Company as a consultant working on 22nd Century proprietary tobaccos for international markets and on other special projects.
“Not only did Mike Moynihan spearhead the development of what is arguably the most exciting Modified Risk Tobacco Product candidate in the tobacco industry, he also – through his extensive relationships in the scientific community – led us to Dr. Tamburrino,” explained Henry Sicignano, III, President and CEO of 22nd Century Group. “Mike Moynihan has been a foundational part of the team at 22nd Century; though we will miss him, I am very pleased that Mike will continue to support the Company’s important work, even as he enjoys his well-earned retirement.”
“Dr. Tamburrino’s professional background and experience in the tobacco industry make him an invaluable addition to 22nd Century’s R&D team,” explained James Swauger, Ph.D., Senior Vice President of Science and Regulatory Affairs at 22nd Century Group. “We look forward to the fresh perspective and new energy that Dr. Tamburrino will bring to the Company’s on-going research efforts.”
About 22nd Century Group, Inc.
22nd Century is a plant biotechnology company focused on genetic engineering and plant breeding which allows the increase or decrease of the level of nicotine in tobacco plants and the level of cannabinoids in hemp/cannabis plants. The Company’s primary mission in tobacco is to reduce the harm caused by smoking. The Company’s primary mission in hemp/cannabis is to develop proprietary hemp/cannabis strains for important new medicines and agricultural crops. Visit www.xxiicentury.com and www.botanicalgenetics.com for more information.
Cautionary Note Regarding Forward-Looking Statements: This press release contains forward-looking information, including all statements that are not statements of historical fact regarding the intent, belief or current expectations of 22nd Century Group, Inc., its directors or its officers with respect to the contents of this press release, including but not limited to our future revenue expectations. The words “may,” “would,” “will,” “expect,” “estimate,” “anticipate,” “believe,” “intend” and similar expressions and variations thereof are intended to identify forward-looking statements. We cannot guarantee future results, levels of activity or performance. You should not place undue reliance on these forward-looking statements, which speak only as of the date that they were made. These cautionary statements should be considered with any written or oral forward-looking statements that we may issue in the future. Except as required by applicable law, including the securities laws of the United States, we do not intend to update any of the forward-looking statements to conform these statements to reflect actual results, later events or circumstances, or to reflect the occurrence of unanticipated events. You should carefully review and consider the various disclosures made by us in our annual report on Form 10-K for the fiscal year ended December 31, 2016, filed on March 8, 2017, including the section entitled “Risk Factors,” and our other reports filed with the U.S. Securities and Exchange Commission which attempt to advise interested parties of the risks and factors that may affect our business, financial condition, results of operation and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected.
Aurora Responds to CanniMed's Adoption of Poison Pill Tactic
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/11/30/ACB-ACBFF-Aurora-Responds-to-CMED-CanniMeds-Adoption-of-Poison-Pill-Tactic
VANCOUVER, Nov. 30, 2017 /CNW/ - Following the November 28, 2017 CanniMed Therapeutics Inc. ("CanniMed") (TSX:CMED) announcement that it has unilaterally adopted a shareholders' rights plan (the "Poison Pill") in response to the compelling offer (the "Offer") made by Aurora Cannabis Inc. (the "Company" or "Aurora") (TSX:ACB) (OTC:ACBFF) (Frankfurt: 21P; WKN: A1C4WM) to CanniMed's shareholders, Aurora provides the following initial response:
CanniMed's Refusal To Engage. Aurora is astonished by the continued refusal of CanniMed, its Board of Directors (the "Board"), and the Board's Special Committee to engage in a constructive dialogue to discuss the strong merits of its Offer, despite repeated approaches from Aurora. Aurora questions the Board and Special Committee's ability to make an informed decision and act in the best interest of shareholders.
Oppressive Tactics to thwart the Offer. The Poison Pill is oppressive and serves only to thwart Aurora's compelling offer to CanniMed shareholders. The Poison Pill is the second self-serving and rash poison pill adopted by the CanniMed Board. The first such poison pill being when the CanniMed Board, with a public offer from Aurora in-hand, agreed to pay a significant break fee of $9.5 million dollars to Newstrike Resources Ltd. ("Newstrike Resources Poison Pill") in the event the highly conditional transaction with Newstrike Resources is not completed. The CanniMed Board's actions are a clear attempt to thwart Aurora's full and fair Offer to CanniMed shareholders.
Limiting Rights and Choices of Shareholders. The adoption of the Poison Pill, for which CanniMed Board would not dare seek shareholder approval, is unprecedented in its scope and scale, as it takes away the rights and choices of shareholders. It also creates an overly burdensome process for CanniMed shareholders who wish to support the Offer and enter into lock-up agreements, as they must first seek the approval of CanniMed's Board. Moreover, it is in breach of securities laws.
Self Serving Actions may affect CanniMed's Shareholder Value. Aurora believes that the actions taken by the CanniMed Board in adopting the Poison Pill and the Newstrike Resources Poison Pill could lead to inferior CanniMed shareholder value relative to the Aurora Offer, which provides significant value, today, a 75% premium to the 20-day VWAP of CanniMed shares prior to public disclosure of Aurora's intention. Furthermore, Aurora's Offer provides CanniMed shareholders with the opportunity to participate in the growth of the industry, alongside Aurora's exceptional execution track record.
Aurora to Challenge Poison Pill and give Shareholders the Ability to Choose. Aurora intends to vigorously challenge the merits and terms of the Poison Pill approved by the CanniMed Board by bringing an application for a hearing before the Financial and Consumer Affairs Authority of Saskatchewan and Ontario Securities Commission to strike down the Poison Pill.
Aurora Files Complaint With Securities Regulatory Authorities. Aurora has also filed a complaint with the the Financial and Consumer Affairs Authority of Saskatchewan and the Ontario Securites Commission regarding CanniMed's failure to disclose certain important information regarding the Newstrike transaction, as required by securities law. For example, CanniMed has failed to disclose who has committed to support the highly dilutive Newstrike transaction. Aurora is hopeful CanniMed will comply with its obligations under securites law and provide the required information to shareholders soon.
"Since launching our offer, the feedback we have received from CanniMed's shareholders has been overwhelmingly positive. Many of CanniMed's shareholders are telling us that our offer represents an excellent premium for their CanniMed shares, and clearly see the considerable upside potential by becoming Aurora shareholders," said Cam Battley, Aurora's Executive Vice President.
The actions of CanniMed's management and Board, however, seem contrary to the wishes of CanniMed shareholders. CanniMed has adopted oppressive poison pill tactics, which appear to be driven solely by entrenched self-interest, and that purposely limit their shareholders' rights and ability to choose. They are taking fundamental rights away from their shareholders. We want CanniMed shareholders to be able to make their own choice, and we remain open for discussion at any time to explain the strong merits of our Offer. CanniMed's Board and management claim they are protecting their shareholders, but their actions say the opposite."
CanniMed's shareholders are encouraged to read more about the Offer by visiting Aurora's website dedicated to the Offer at cannimed.auroramj.com. Aurora continues to build value for its shareholders and has completed several transactions and business opportunities which CanniMed shareholders can read about at www.auroramj.com.
Additionally, CanniMed shareholders with questions regarding the Offer may contact Aurora's Information Agent and Depositary, Laurel Hill Advisory Group, at 1-877-452-7184 (toll free) or +1-416-304-0211 (collect call for shareholders outside North America).
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 9.6% of the issued shares (12.9% on a fully-diluted basis) 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".
On behalf of the Board of Directors,
AURORA CANNABIS INC.
Terry Booth
CEO
SHAREHOLDER QUESTIONS
Questions may be directed to Aurora's Depositary 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 contains certain "forward-looking statements" within the meaning of such statements under applicable 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 statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward looking statements in release include statements regarding CanniMed's defensive tactics and the effect on the value of the Aurora Offer; the timing and results of theapplication by Aurora to the Ontario Securities Commission and the Financial and Consumer Affairs Authority of Saskatchewan, and Aurora's business plans and potential 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. Forward looking statements 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. A more complete discussion of the risks and uncertainties facing the Company appears in the Company's Annual Information Form and continuous disclosure filings, which are available at www.sedar.com. 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.
22nd Century Ships 2.4 Million SPECTRUM Cigarettes for NIDA
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/11/30/XXII-22nd-Century-Ships-24-Million-SPECTRUM-Cigarettes-for-NIDA
CLARENCE, N.Y.--(BUSINESS WIRE)-- 22nd Century Group, Inc. (NYSE:XXII), a plant biotechnology company focused on tobacco harm reduction and hemp/cannabis research, announced today that the Company shipped 2.4 million SPECTRUM® research cigarettes for the National Institute on Drug Abuse (NIDA), which is part of the National Institutes of Health (NIH).
As a subcontractor under federal government contracts, 22nd Century has supplied the Company’s proprietary SPECTRUM® research cigarettes for NIDA since 2011. The SPECTRUM® product line consists of a series of 24 cigarette styles (11 regular and 13 menthol versions) that have 8 different levels of nicotine – from very low to high.
The U.S. Food and Drug Administration (FDA) and other agencies of the U.S. federal government have invested more than $100 million in numerous independent clinical studies that have demonstrated the public health benefits of 22nd Century’s proprietary Very Low Nicotine Content (VLNC) tobacco cigarettes. As a result of this research, scientists have found that VLNC cigarettes reduce cravings, reduce consumption of cigarettes, and increase quit attempts.
A seminal study was recently completed with 22nd Century’s SPECTRUM® research cigarettes. This independent Phase III study featured 1,250 participants at 10 study locations, including the Mayo Clinic, the Johns Hopkins University, Duke University, the University of Texas MD Anderson Cancer Center, the University of Pittsburgh, the University of Minnesota, the University of Vermont, the University of California – San Francisco and others, all in collaboration with NIDA. The completed Phase III study compared two different approaches to help smokers lose their addiction to nicotine: an immediate reduction in nicotine content in cigarettes to non-addictive levels versus a gradual reduction in nicotine content in cigarettes to non-addictive levels. Although the results of this highly anticipated clinical trial are still in peer review prior to being published, a principal investigator in the trial, Dr. Dorothy Hatsukami, has already publicly disclosed that an immediate reduction in nicotine is “most likely to lead to less harm.” This announcement came only weeks after the FDA announced that the Agency is exercising its authority under the Family Smoking Prevention and Tobacco Control Act to mandate lower nicotine – at minimally or non-addictive levels – in all combustible cigarettes sold in the United States.
“22nd Century’s SPECTRUM cigarettes have facilitated dozens of independent studies that have demonstrated, conclusively, the public health benefits of minimally or non-addictive cigarettes,” explained Henry Sicignano, III, President and Chief Executive Officer of 22nd Century Group. “What’s more, 22nd Century’s proprietary Very Low Nicotine cigarettes show that the FDA’s plan to mandate dramatically reduced nicotine levels in cigarettes is immediately feasible. We are proud to be a part of this exceptionally important public health initiative.”
About 22nd Century Group, Inc.
22nd Century is a plant biotechnology company focused on genetic engineering and plant breeding which allows the increase or decrease of the level of nicotine in tobacco plants and the level of cannabinoids in hemp/cannabis plants. The Company’s primary mission in tobacco is to reduce the harm caused by smoking. The Company’s primary mission in hemp/cannabis is to develop proprietary hemp/cannabis strains for important new medicines and agricultural crops. Visit www.xxiicentury.com and www.botanicalgenetics.com for more information.
Cautionary Note Regarding Forward-Looking Statements: This press release contains forward-looking information, including all statements that are not statements of historical fact regarding the intent, belief or current expectations of 22nd Century Group, Inc., its directors or its officers with respect to the contents of this press release, including but not limited to our future revenue expectations. The words “may,” “would,” “will,” “expect,” “estimate,” “anticipate,” “believe,” “intend” and similar expressions and variations thereof are intended to identify forward-looking statements. We cannot guarantee future results, levels of activity or performance. You should not place undue reliance on these forward-looking statements, which speak only as of the date that they were made. These cautionary statements should be considered with any written or oral forward-looking statements that we may issue in the future. Except as required by applicable law, including the securities laws of the United States, we do not intend to update any of the forward-looking statements to conform these statements to reflect actual results, later events or circumstances, or to reflect the occurrence of unanticipated events. You should carefully review and consider the various disclosures made by us in our annual report on Form 10-K for the fiscal year ended December 31, 2016, filed on March 8, 2017, including the section entitled “Risk Factors,” and our other reports filed with the U.S. Securities and Exchange Commission which attempt to advise interested parties of the risks and factors that may affect our business, financial condition, results of operation and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected.
How is Aphria up on this kind of news?
This morning, the Ohio Department of Commerce announced license approvals for 11 Level I cultivators. As you will notice, there was no license awarded to Liberty Health Sciences (CSE:LHS) (OTC:LHSIF), the American sister-company of Aphria Inc. (TSX:APH) (OTC:APHQF).
Besides the bad news for shareholders of Liberty Health, this was also bad news for shareholders of MPX Bioceutical (CSE: MPX) (OTC: MPXEF), which also put in three applications under the name GreenMart. Shares of Liberty are being hit far harder than MPX in the markets today, currently down over 30% intraday compared to MPX, which is down nearly 10%.
While interested parties could submit multiple applications, they were only able to receive one provisional license each. These Level I cultivators will be the largest in Ohio, as each Level II licensee is capped at having 3,000 square foot maximum of grow space. Each awarded Level I licensee will be allowed to have a whopping 25,000 square feet of cultivation operations.
REST OF ARTICLE AND SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/11/30/Ohio-Issues-Level-I-Cultivator-Provisional-Licenses-Bad-News-for-Liberty-MPX
Ohio Issues Level I Cultivator Provisional Licenses, Bad News for Liberty & MPX
This morning, the Ohio Department of Commerce announced license approvals for 11 Level I cultivators. As you will notice, there was no license awarded to Liberty Health Sciences (CSE:LHS) (OTC:LHSIF), the American sister-company of Aphria Inc. (TSX:APH) (OTC:APHQF).
Besides the bad news for shareholders of Liberty Health, this was also bad news for shareholders of MPX Bioceutical (CSE: MPX) (OTC: MPXEF), which also put in three applications under the name GreenMart. Shares of Liberty are being hit far harder than MPX in the markets today, currently down over 30% intraday compared to MPX, which is down nearly 10%.
REST OF ARTICLE: https://www.dailymarijuanaobserver.com/single-post/2017/11/30/Ohio-Issues-Level-I-Cultivator-Provisional-Licenses-Bad-News-for-Liberty-MPX
Looks like STNY is presenting at the LD Micro conference in LA, saw a release for that this morning :)
Maricann Group Inc. Signs Letter of Intent with ABLE BC
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/11/30/MARI-MRRCF-Maricann-Group-Inc-Signs-Letter-of-Intent-with-ABLE-BC
TORONTO, ONTARIO--(Marketwired - Nov. 30, 2017) - Maricann Group Inc. (CSE:MARI) (OTC:MRRCF) (FRA:75M) ("Maricann" or the "Company") is pleased to announce it has entered into a non-binding letter of intent ("LOI") with the Alliance of Beverage Licensees ("ABLE BC"), the advocacy organization representing British Columbia's private liquor industry which outlines a proposed relationship between ABLE BC and Maricann for, among other things, the supply of Maricann product to ABLE BC members.
"We are pleased to partner with Maricann as a supplier of adult-use recreational cannabis for our retail members," said Jeff Guignard, Executive Director of ABLE BC. "We believe British Columbians will be extremely discerning cannabis consumers, so we are excited to work with a producer who has the capacity and commitment to deliver a consistent supply of high quality cannabis products."
Under the terms of the LOI ABLE BC will agree to provide Maricann with distribution channels for its recreational stable of products, including JuJu Royal's curated quality strains. This will ensure ABLE's more than 1,000 members consisting of private liquor stores, neighborhood pubs, bars/nightclubs and hotel liquor licensees have access to Maricann's stable of established premium cannabis products.
Ben Ward, Maricann's CEO commented: "We're thrilled to work with ABLE and its approximately 1,000 members to ensure a reliable consistent supply of Maricann's quality differentiated products to their customers, ensuring a wide range of choice, with customers selecting the products they prefer."
The parties will now work towards the negotiation and execution of the definitive agreements to document the relationship proposed in the LOI. The LOI does not set forth any specific amounts to be supplied or purchased. Furthermore the timeline for the development of the formal agreement referred to below will depend, in part, on the timing of the implementation of regulations relating to the sale of recreational marijuana.
About Maricann:
Maricann, which has federal licenses in Canada to cultivate, extract, formulate and distribute cannabis, is rapidly expanding its Canadian production, based in Norfolk County, Ontario, adding 22,245 kg of annual production of dry flower to come online in Q2 2018, with additional production planned. Maricann is focused on expanding capacity in a truly differentiated product offering, in support of its previously announced joint pharmacy initiative and future global export opportunities.
For more information about Maricann, please visit our website at www.maricann.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.
Forward Looking Information
Certain statements in this document contain forward-looking statements which can be identified by the use of forward-looking terminology such as "believes", "expects", "may", "desires", "will", "should", "projects", "estimates", "contemplates", "anticipates", "intends", or any negative such as "does not believe" or other variations thereof or comparable terminology. No assurance can be given that potential future results or circumstances described in the forward-looking statements will be achieved or will occur. By their nature, these forward-looking statements, necessarily involve risks and uncertainties, including those discussed herein, that could cause actual results to significantly differ from those contemplated by these forward-looking statements. Such statements reflect the view of the Company with respect to future events, and are based on information currently available to the Company and on assumptions, which it considers reasonable. The forward looking statements in this release include statements regarding the proposed relationship with ABLE BC and the planned increase in annual production. Management cautions readers that the assumptions relative to the future events, several of which are beyond Management's control, could prove to be incorrect, given that they are subject to certain risk and uncertainties, and that actual results may differ materially from those projected. Factors which could cause results or events to differ from current expectations include, among other things: the inability to negotiate and execute a definitive agreement with ABLE BC, fluctuations in operating results; the impact of general economic, industry and market conditions; the ability to recruit and retain qualified employees; fluctuations in cash flow; failure to obtain required financing; increased levels of outstanding debt and obligations under a capital lease; expectations regarding market demand for particular products and the dependence on new product development; the impact of market change; and the impact of price and product competition. Management disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise. The reader is cautioned not to place undue reliance on forward-looking information.
wait...we are all aware that there has never been a single reported death from cannabis...agreed that we dont want kids eating this and getting high, but there should be no worry about them dying
Have you heard of Marimeds cannabis popcorn?
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/11/29/MRMD-MariMed-Cannabis-Infused-Popcorn-Bringing-Variety-to-Edibles-Kalm-Corn
Whether you want a snack for the movies, or just a tasty treat, popcorn is one of the most popular munchies around. While so many edibles companies are making sweets like brownies, cookies, and gummies, MariMed Inc. (OTC:MRMD) is bringing variety to the space with its Kalm-Corn line of THC and CBD infused microwave popcorn bags.
People Consume a Lot of Popcorn!
More than 17 billion quarts of popcorn are consumed by Americans every year, according to industry analysts, with about 58 quarts eaten by the average American. Why is so much popcorn consumed? Because popcorn is very low in calories when compared to other snack foods.
As mentioned above, popcorn is a nice alternative to the many sweets available to consumers for snacking. Whether at the movies or at the dispensary, sweets are seemingly taking over. As the number of health conscious consumers continues to rise, it's no wonder that MariMed's Kalm Fusion edibles brand turned to popcorn for differentiation.
Edibles Demand is on the Rise
Demand for edibles has been strong for quite some time, and is only getting stronger. Back in 2014, the estimated market for general marijuana-infused products hit between $650 million and $850 million. Colorado alone sold nearly 5 million edibles in 2014, as reported by Time. Since then, demand has gone sky high.
A 2016 study by the Rand Organization showed that "people who use marijuana for medical purposes are much more likely to vaporize or consume edible forms." It's no shocker that edibles are so popular, since they "provide a discrete, smoke-free experience." It's also no shocker that dispensaries are happy to stock their shelves with edibles given the high prices and profit margins. According to an article in Forbes, "edibles often account for 25 to 60% of a dispensary’s profits."
REST OF ARTICLE: https://www.dailymarijuanaobserver.com/single-post/2017/11/29/MRMD-MariMed-Cannabis-Infused-Popcorn-Bringing-Variety-to-Edibles-Kalm-Corn
Anyone else notice the nice volume at the open today?
mCig Joint Venture to Grow Organic Industrial Hemp In New York State
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/11/29/mCig-Joint-Venture-to-Grow-Organic-Industrial-Hemp-In-New-York-State
LAS VEGAS, NV--(Marketwired - Nov 29, 2017) - mCig, Inc. (OTC:MCIG), a diversified company servicing the legal cannabis markets, announced today that the company has entered into a definitive Joint Venture agreement with Empire Farm's FarmOn! Foundation in Copake New York. Together the partnership has formed NYAcres, Inc., a corporation 80% owned by mCig, Inc. focused on hemp propagation, production, research, and distribution of organic industrial hemp and hemp by-products.
The company is pleased to announce that cultivation process will start immediately on the initial harvest of 40 acres, allowing for a second harvest in late fall. The program will expand each year over 3 years, scaling up to 120 acres of organic industrial hemp bi-annually.
Uniquely located on the corner of three states, New York, Massachusetts and Connecticut. Empire Farm is a certified organic 220-acre working farm, home to the FarmOn! Foundation, founded in 1830 and associated with the Astor family. Nestled in an agricultural community in the heart of the Columbia County, the FarmOn! Academy is in partnership with SUNY and Cornell College of Agriculture and Life Sciences, providing young adults the opportunity to learn agriculture on an established working farm. Now home to NY Acres, Inc., the farm also offers 4 four-season heated hi-tunnel greenhouses lending its rich 'black gold' soil, suitable for hemp cultivation.
FarmOn! Foundation includes a strong collaboration of professional farmers, educators, influencers, supporters, nutritionists, students, and community leaders who believe in investing in the future of local agriculture by helping to rebuild local economies, enabling them to be resilient with sustainable agriculture. FarmOn! Foundation partners include SUNY, Cornell University, Google NYC Farm to Table Project, TasteNY, John Varvatos, Bronx Zoo, NYS Department of Agriculture & Markets, New World Foundation/Local Economies Project, Bloomberg Philanthropies, Christy & John Mack Foundation, Hudson Valley Fresh, Maple Hill Creamery, Yelp, Whole Foods Market, Modern Farmer, NBA, The Walt Disney Company, MLB at Yankees SI, Applegate, Edible Schoolyard Project and LetsMove.org
Industrial hemp is projected to increase 700% by 2020. New York State has focused on the economic development and expansion of Industrial Hemp Research Permits under Governor Andrew Cuomo, giving mid-size farms the opportunity to implement sustainability and organic practices to promote efficiency and profitability. The partnership between mCig and FarmOn! Foundation brings a significant, mutually beneficial opportunity, investing in infrastructure to help rebuild rural American farming.
"The opportunity between mCig and FarmOn! Foundation fosters innovative, profitable and sustainable farming. We look to industrial hemp as an economic driver in the great state of New York, with the leadership of Governor Cuomo supporting our agricultural community, having a vision to rebuild for sustainability and rural prosperity through research and investment," said Paul Rosenberg, CEO of mCig.
The Chairwoman of FarmOn! Foundation and CEO of NYAcres, Inc., Tessa Edick, brings a lifetime of agricultural and business experience, strategic partners and a wealth of knowledge in food and agricultural cultivation to the joint venture. Tessa Edick is connected to a lifetime of practical farming, is an established author, school food activist, food entrepreneur, founder and executive director of the FarmOn! Foundation, a 501(C)3 non-profit organization and public charity.
In 2016, Edick was appointed by Governor Andrew Cuomo to the Task force on Safe and Healthy Foods to develop NY Grown & Certified brands, and in 2015 appointed by executive order to the New York State Council on Food Policy and the Advisory Board for Edible Schoolyard by mentor Alice Waters. Edick was featured in the Oprah Magazine "O" list twice, as well as 16 SFT Sofi Awards (the Oscars of food). Edick also founded the Culinary Partnership, where her guidance helps both celebrity chefs and producers launch their recipes to retail shelves. In 2010, Edick started Friends of the Farmer Festival in the Hudson Valley and established the FarmOn! Foundation, as the benefactor, committed to raising awareness and respect to farmers, the real stars in food, while educating the public on the importance of honest food-choices and better school lunches, contracting dairy farms in the districts to supply school milk. FarmOn! Foundation offers programs for adults and youth, including a SUNY accredited Farm Academy, the theme of which is fostering the entrepreneurial spirit in agriculture, thereby supporting the local growing community in the process. In 2014, through a generous contribution from the Christy & John Mack Foundation, Farm On! Foundation found its home at Empire Farm.
"The oldest honorable profession, farming, needs to be re-established for our health; for our children; and for the economy of our local communities. Only when the costs of trucking, storage and distribution is redirected to the local Farmer, will farming once again become a profitable business...and attract future generations of farmers," says Tessa Edick, CEO of NY Acres.
"Edick's FarmOn! movement, has cultivated and nurtured a broad network of supporters, partners and beneficiaries within New York State as a pilot program that is being scaled and implemented nationally with Google, NYC Farm to Table Project," says Mike Hawkins, CFO of mCig.
About the FarmOn! Foundation:
FarmOn! Foundation is a 501(c)(3)non-profit organization and public charity that creates and funds youth educational programming and is working to preserve family farming in America.
FarmOn! Foundation is dedicated to bringing awareness to food choices and sources and reinvigorating respect for farming, inspiring young people to choose agricultural careers to create an economic engine connecting rural and urban marketplaces to rebuild local economies.
MISSION: Inspiring, educating and preparing youth for successful careers in sustainable farming.
VISION: A world where a career in sustainable agriculture is valued and profitable.
FarmOn! Foundation is a 501c3 non-profit organization + public charity that creates and funds youth educational programming and is working to preserve family farming in America. The FarmOn! Foundation is a movement dedicated to bringing awareness to food choices and sources, reinvigorating respect for farming and inspiring young people to choose agricultural careers that will create an economic engine connecting rural and urban marketplaces to build local economies. Join our movement today: http://farmonfoundation.org.
About MCIG Group (OTCQB: MCIG)
Headquartered in Henderson, Nevada, 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 technology 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.
For more information visit:
More about FarmOn! Foundation visit: www.farmon.org
For more information about mCig visit: www.mciggroup.com
Safe Harbour
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.
Namaste Divests its US Assets to Focus on Canada and Legal Markets
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/11/28/N-NXTTF-Namaste-Divests-its-US-Assets-to-Focus-on-Canada-and-Legal-Markets
VANCOUVER, British Columbia, Nov. 28, 2017 (GLOBE NEWSWIRE) -- Namaste Technologies Inc. (“Namaste” or the “Company”) (CSE:N) (OTC:NXTTF) (FRANKFURT:M5BQ) is pleased to announce that it has signed a stock purchase agreement (the “Agreement”) with ESC Hughes Holdings Limited (“ESC”) to sell the Company’s wholly owned US subsidiary, Dollinger Enterprises US Inc. (“Dollinger US”). The Agreement includes the sale of the domain names Everyonedoesit.com and NamasteVapes.com which combined represent less than 7% of Namaste’s current gross revenue, both of which are currently operating at a net loss. Due to the political uncertainty surrounding the legalization of cannabis in the US, Namaste's management has deemed it appropriate to shift its focus to legal cannabis markets and management believes that the Company will be better aligned with its long-term interests by divesting its US operations. Management also feels it is prudent to divest these assets in preparation for the legalization of both medical and recreational marijuana in Canada. This decision better aligns Namaste with many of its Canadian counterparts and will enable the Company to capitalize on more accretive opportunities moving forward.
Under the terms of the Agreement, Namaste will, through its wholly owned subsidiary, Namaste Technologies Holdings Inc., in consideration of a cash purchase price of US $400,000, convey to ESC the following:
All authorized and issued shares of Dollinger US
NamasteVapes.com and Everyonedoesit.com domains
All banking, merchant, and services accounts
Five employees of Dollinger US
One real estate lease held under Dollinger US
Payment of US $100,000 will be received on closing, with the balance of the purchase price being paid at a monthly rate of US $25,000 until paid in full, with payments commencing on January 1, 2018. Closing is expected to occur on or about December 4, 2017.
Although many US states have established some form of medical and/or recreational cannabis legalization, the US federal government remains firm on its position regarding cannabis prohibition. Namaste feels this uncertainty may pose challenges in both the short and medium term and restrict growth opportunities in more progressive markets. Under the terms of this Agreement, Namaste will retain all of its existing database of over 520,000 US consumers, and intends on leveraging that data once US federal legalization is in place.
Namaste believes that Canada is at the forefront of the industry for cannabis legalization and intends to leverage its expertise to become the country’s leading online retailer for medical cannabis. By divesting itself of its US assets and operations, Namaste intends to reposition its focus in an attempt to fuel efficiency and growth. Through its wholly owned subsidiary, Cannmart Inc. (“CannMart”), Namaste is near approval for a license and plans to distribute medical cannabis through its online telemedicine app known as NamasteMD. Once approval is received, Namaste, through CannMart, will be able to leverage all of its e-commerce expertise, resources, and technology to become Canada’s leading e-commerce platform for medical cannabis sales. Namaste’s management team intends to pursue similar opportunities in distribution of legal cannabis in other markets where the Company has already established strong market share such as Australia and various countries in the EU.
Conference Call
Namaste will be holding a conference call at 8:30 a.m. on Wednesday, November 29, 2017 to discuss and answer questions regarding the above news. The call will be led by Namaste’s CEO, Sean Dollinger. In order to join the conference call, participants may dial the toll-free number below with the accompanying Event Passcode:
Participant Event Plus Toll Free Dial-In Number: (844) 862-1432
Participant Event Plus Toll Dial-In Number: (702) 495-1535
Event Passcode: 3396668
Management Commentary
Sean Dollinger, President and CEO of Namaste comments: “In light of recent trends, Namaste is extremely excited at the potential for additional growth opportunities in more progressive markets. As a result of this divestiture, Namaste believes it has set the stage to fully exploit any and all opportunities that present themselves within legalized marijuana markets globally. Our decision to divest these US assets is strategic in nature and sets the stage for greater expansion of our e-commerce platform. Namaste believes its future success will be achieved through organic growth, in addition to forming strategic alliances. We also believe this divestiture will lead the Company to profitability in a much shorter time-frame.”
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 Access to Cannabis for Medical Purposes Regulations Program) is pursuing a new revenue vertical in online sales 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@namastevapes.com
Further information on the Company and its products can be accessed through the links below:
www.namastetechnologies.com
www.namastevaporizers.com
www.namastevaporizers.co.uk
www.everyonedoesit.com
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.
MariMed Purchases New Bedford MA Building; Leases to Cultivation Tenant
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/11/28/MariMed-Purchases-New-Bedford-MA-Building-Leases-to-Cultivation-Tenant
MariMed to Design, Develop and Manage State of the Art Cannabis Production Facility
NEWTON, Mass. and NEW BEDFORD, Mass., Nov. 28, 2017 (GLOBE NEWSWIRE) -- MariMed Inc., (OTC:MRMD) today announced the purchase of a 137,500 sq. ft. industrial building on 17 acres at 167 John Vertente Blvd., in the New Bedford, Mass., industrial park for a purchase price of $6,895,000. MariMed will develop approximately 70,000 sq. ft. into a full service state of the art medical cannabis cultivation and production facility that has been leased to ARL Healthcare, Inc. (ARL), a Massachusetts not for profit corporation. MariMed assisted ARL Healthcare in its successful application to be awarded a Massachusetts Registered Marijuana Dispensary (RMD) License for cultivation, production, and dispensing of medical cannabis. Under the license, and in agreement with the City of New Bedford, this facility will be used solely to cultivate and produce cannabis medicine and related products. These products will be distributed to patients licensed by the Massachusetts Dept. of Public Health at three ARL dispensaries in other municipalities.
New Bedford Mayor Jon Mitchell stated, “The acquisition of the John Vertente Boulevard site is an important milestone because it brings us that much closer to the day when the City is able to share in ARL’s success under the Host Community Agreement we negotiated in 2016. Under our Agreement, once the facility is operational, ARL will provide substantial annual benefits to the City and residents of New Bedford, including significant mitigation payments, the hiring of local workers, and the use local small businesses. Based on the company’s community-oriented approach and the effective working relationship we have developed, I have every expectation ARL will succeed here in New Bedford.”
MariMed will assist ARL in the development and ongoing management of this cultivation and manufacturing facility. ARL expects to employ 50 to 100 people and commence cultivation in the first quarter of 2018, with the first products in dispensaries in second or third quarter of 2018, pending receipt of state approvals.
“As a Massachusetts-based company, we congratulate our neighbor ARL on their successful license application and are eager to help them become the best medical cannabis company in this State to provide high quality, safe cannabis medicine and treatments to licensed patients in need of consistent relief,” stated Jon Levine, MariMed CFO. “This property purchase represents the continuing execution of MariMed’s strategy to acquire assets that will, in turn, increase revenue and earnings for all of our business units and generate tax revenue for the state.”
“There is no substitute for experience, and that is why we chose MariMed to design, build out and optimize our cultivation, production and dispensary facilities,” noted Kenneth Housman, president of ARL Healthcare, Inc. “MariMed’s standard operating procedures and best practices have proven successful with its medical cannabis clients in multiple states.”
About MariMed Inc.:
MariMed is an industry leader in the development and operation of state licensed regulatory compliant cannabis cultivation, production, and dispensary facilities in multiple states across the country. These facilities are models of excellence in horticultural principals, cannabis production, product development, and dispensary operations. MariMed is on the forefront of precision dosed branded products for the treatment of specific medical symptoms. MariMed currently distributes its branded products in select states and is expanding licensing and distribution to numerous additional states encompassing thousands of dispensaries. MariMed Inc., is one of the 17 top-performing public cannabis companies in the U.S. tracked on the U.S. Marijuana Index, (www.marijuanaindex.com) and CannabIndex. For additional information, visit www.MarimedAdvisors.com
About ARL Healthcare, Inc.
ARL Healthcare, Inc., is a Massachusetts not for profit corporation that has been awarded a Registered Marijuana Dispensary (RMD License) by the State of Massachusetts. It will operate a cultivation and production manufacturing facility in New Bedford and dispensaries in Middleborough and Norwood, Massachusetts.
Forward Looking Statements:
This release contains certain forward-looking statements and information relating to MariMed Inc., that is based on the beliefs of MariMed Inc. management, as well as assumptions made by and information currently available to the Company. Such statements reflect the current views of the Company with respect to future events including estimates and projections about its business based on certain assumptions of its management, including those described in this Release. These statements are not guarantees of future performance and involve risk and uncertainties that are difficult to predict, including, among other factors, changes in demand for the Company's services and products, changes in the economic environment and changes in technology. Additional risk factors are included in the Company's public filings with the SEC. Should one or more of these underlying assumptions prove incorrect, actual results may vary materially from those described herein as "hoped," "anticipated," "believed," "planned, "estimated," "preparing," "potential," "expected" or words of a similar nature. The Company does not intend to update these forward-looking statements. None of the content of any of the websites of any other party referred to herein (even if a link is provided for your convenience) is incorporated into this release and the Company assumes no responsibility for any of such content.
BioMerica written up in Huffington Post!
check this out
https://www.huffingtonpost.com/entry/irritable-bowel-syndrome-and-what-you-might-be-ignoring_us_5a1bc8b3e4b0250a107c00e1
Innovative Industrial Properties to Acquire Arizona Property
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/11/28/IIPR-Innovative-Industrial-Properties-to-Acquire-Arizona-Property
The Company Expects to Invest Up to $18 Million in the 350,000+ Square Foot Medical-Use Cannabis Cultivation Facility
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 has executed an agreement to purchase a property in Arizona comprising over 350,000 square feet of greenhouse and industrial space in a sale-leaseback transaction with a subsidiary of The Pharm, LLC ("The Pharm"). Concurrent with the closing of the purchase, the Company expects to enter into a long-term, triple-net lease agreement with The Pharm subsidiary, which intends to continue to use the facility for medical cannabis cultivation. The Pharm is led by a senior management team that brings decades of collective experience and a proven track record in the medical-use cannabis, agriculture, food and beverage, finance and e-commerce industries.
The purchase price for the property is $15 million. The Pharm subsidiary, as tenant, is also expected to make certain tenant improvements at the property after the closing of the transaction, for which the Company has agreed to provide reimbursement of up to $3 million. Assuming full payment of the tenant improvement allowance, the Company's total investment in the property will be $18 million.
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, or 14% of the sum of the purchase price and the tenant improvements made available to the tenant, subject to an initial partial 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 base rent.
"The Pharm is pleased to enter into a long-term partnership with Innovative Industrial Properties through a real estate sale-leaseback transaction that will help capitalize our plans for national expansion. Innovative Industrial Properties' flexible, long-term capital solutions have enabled The Pharm to unlock the equity it had invested in real estate to be redeployed back into our core business, where we expect to generate higher returns," said Mr. Randy Smith, Founder and Chief Executive Officer of The Pharm.
"The Pharm's team brings together decades of management and business execution success, and we believe they are very well-positioned to continue their strong growth in the Arizona medical-use cannabis market, which as of October 2017 had nearly 150,000 registered patients being treated for numerous qualifying medical conditions, including chronic pain," said Paul Smithers, President and Chief Executive Officer. "We are excited to have The Pharm as a new tenant and to support their real estate and capital needs as they continue their expansion in the Arizona market and beyond."
The transaction is expected to close in the fourth quarter 2017. The transaction is subject to the Company's continued diligence and customary closing conditions, and the Company cannot provide assurances that it will close on the transaction on the terms described herein, or at all.
About The Pharm
The Pharm is one of the largest wholesalers of medical grade cannabis in the state of Arizona and serves 40 of Arizona's 99 retail dispensaries. The Pharm is focused on cultivating the highest quality, organically grown cannabis and cannabis-based derivative products tailored for the treatment of specified medical conditions. The company's products, with the retail trade brand "Sunday Goods," are available to state-licensed patients in both dispensaries and online through the company's e-commerce platform https://shop.sundaygoods.com/.
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 purchase and lease of the Arizona property and the terms thereof, 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 Growth Adds Manitoba-Based Delta 9 to Tweed CraftGrow
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/11/28/WEED-TWMJF-Canopy-Growth-Adds-Manitoba-Based-Delta-9-to-Tweed-CraftGrow
Canopy Growth Adds Manitoba-Based Delta 9 to Tweed CraftGrow
November 28, 2017
|
D.M.O. Newswire
WINNIPEG and SMITHS FALLS, ON, Nov. 28, 2017 /CNW/ - Canopy Growth Corporation (TSX:WEED) ("Canopy Growth" or the "Company") is pleased to announce it has entered into a distribution agreement with Winnipeg-based Delta 9 Cannabis Inc. (TSXV:NINE) ("Delta 9"), an existing Licensed Producer under the Access to Cannabis for Medical Purposes Regulations ("ACMPR"). Delta 9 will offer their well-established cannabis products through Canopy Growth's curated CraftGrow line via Tweed Main Street's online store, alongside other high-quality cannabis varieties grown by a diverse set of producers.
Delta 9 was founded in 2012, and quickly became the fourth fully licensed producer and distributor of medical cannabis in Canada. Currently operating an 80,000 sq. ft. production facility in East Winnipeg, Delta 9 is focused on growing small batch, hand trimmed medical cannabis strains in its innovative, self-designed Grow Pod systems. As Manitoba has recently unveiled its proposed cannabis distribution model, which includes private sales, Delta 9 will work with Canopy Growth to continue to serve the local market with consistent high-quality standardized cannabis products, while gaining access to consumers across the country through Canopy Growth's online marketplace: www.tweedmainstreet.com.
"We recognize the varied needs of our patients and through the CraftGrow program we aim to bring them the highest quality products from a variety of producers that each bring a unique offering forward," said Mark Zekulin, President of Canopy Growth Corporation. "This is the ninth participant in the CraftGrow program, and we are particularly excited to see one of the earliest established producers in our sector come on board. We want to promote the value of our platform approach and welcoming Delta 9's products to our shop speaks volumes to the CraftGrow program's potential."
Canopy Growth's CraftGrow line aims to build an ecosystem of high-quality cannabis options for patients across the country. As the newest member of the CraftGrow family, Delta 9 will gain direct access to Canopy Growth's extensive operational, distribution, marketing and sales infrastructure through the Tweed Main Street online marketplace where a gram is shipped on average every 4 seconds. Its sector-leading fulfillment centre then ships these orders to customers all across the country.
"Our company is excited to further our growing partnership with Canopy Growth," said Delta 9 CEO John Arbuthnot. "We are already working closely on a project to jointly serve the growing market in Manitoba; this project brings Delta 9's craft grown cannabis products to a wider national audience through Canopy's well-established CraftGrow network."
Canopy Growth is committed to growing a thriving cannabis marketplace that offers diversity of producers and products to valuable customers. The CraftGrow program is an integral part of an effective cannabis ecosystem, and the addition of Delta 9 strengthens the program and supports ongoing success.
Here's to Future CraftGrowth.
About Tweed
Tweed is a globally recognized cannabis production brand. It has built a large and loyal following by focusing on quality products and meaningful customer relationships. Tweed doesn't just sell cannabis, it facilitates a conversation about a product we've all heard about but haven't met intimately yet. It is approachable and friendly, yet reliable and trusted. As cannabis laws liberalize around the world, Tweed will expand its leading Canadian position around the globe. Learn more at www.tweed.com.
About Canopy Growth Corporation
Canopy Growth is a world-leading diversified cannabis company, offering distinct brands and curated cannabis varieties in dried, oil and capsule forms. Through its wholly-owned subsidiaries, Canopy Growth operates numerous state-of-the-art production facilities with over 700k sq. ft. of licensed production, over 500k sq. ft. of which is GMP-certified. Looking forward to 2018, Canopy Growth and its affiliates are developing a production platform that will represent 3.2 million sq. ft. of indoor and greenhouse production capacity, all operated with world-leading production, quality assurance procedures, value-add post processing, research, and testing. Canopy Growth has established partnerships with leading sector names in Canada and abroad, with interests and operations spanning seven countries and four continents. The Company is proudly dedicated to educating healthcare practitioners, providing consistent access to high quality cannabis products, conducting robust clinical research, and furthering the public's understanding of cannabis. For more information visit www.canopygrowth.com.
About Delta 9
Delta 9 Cannabis Inc., through its wholly-owned subsidiary, Delta 9 Bio-tech, is a licensed producer of medical marijuana pursuant to Health Canada's Access to Cannabis for Medical Purposes Regulations (ACMPR). The company operates an 80,000-square foot, expandable, state-of-the-art production facility in Winnipeg, Manitoba, Canada. For more information please visit www.Delta9.ca.
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.
Invictus MD Provides Update on ACMPR Sales License Amendment
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/11/27/Invictus-MD-Provides-Update-on-ACMPR-Sales-License-Amendment
Vancouver, B.C. -- Nov. 27, 2017 -- /D.M.O. Newswire/ -- INVICTUS MD STRATEGIES CORP. ("Invictus MD" or the "Company") (TSXV:IMH) (OTC:IVITF) (FRA:8IS1), through its interests in two Access to Cannabis for Medical Purposes Regulations ("ACMPR") license holders, its wholly-owned subsidiary Acreage Pharms Ltd. (“Acreage Pharms”) and its one-third interest in AB Laboratories Inc. (“AB Labs”), continues to execute plans that will achieve production capacity of 6,000 kg commencing January 2018, several months before Canada expects cannabis to become recreationally legal. Total current annual production capacity at both locations is approximately 1,500 kg.
As announced on October 27, 2017, Health Canada had removed previously disclosed production capacity restrictions at both Acreage Pharms and AB Labs.
Update on Sales Approval
Both Acreage Pharms and AB Labs have submitted formal requests to Health Canada to amend its License to allow for the sale and distribution of medical cannabis. The issuance of the Amendment is subject to, among other things, a regulatory inspection of Acreage Pharms’ and AB Labs’ production facilities and cannot be guaranteed by the Company. However, the Company is confident that both facilities are compliant with all necessary requirements, that they will pass the required inspection, and that the Amendment will be issued in due course. The Pre-Sales License Inspection is the last step prior to the issuance of a Sales License under the ACMPR.
Update on Production
Acreage Pharms and AB Labs facility are currently at full production with a total combined capacity of approximately 1,500 kg annually.
Acreage Pharms recently completed its 6th harvest, and the yield increased by 30% over the prior harvest from the same room as a result of improved plant spacing and activation of the nutrient delivery system. The facility continues to grow completely pesticide free and the purpose built facility is out performing management’s expectations for Good Production Practices and over all production values.
Update on Construction
Acreage Pharms is on schedule to complete its 32,000 square foot (phase 2) expansion by January 2018. Once completed total production capacity of Acreage Pharms is expected to reach 5,000 kg annually.
Management commentary
"I am extremely pleased that our operational activities are unfolding according to plan as well as our aggressive development strategy aimed at creating Canada’s Cannabis Company,” said Dan Kriznic, Chairman & CEO, of Invictus MD. “The issuance of the sales and distribution Amendment to Acreage Pharms and AB Labs cultivation license under the ACMPR will be a significant value catalyst for our shareholders. Additionally I can report that Invictus MD’s balance sheet remains very strong; it has minimal debt and the approximate $26 million cash in the treasury has been earmarked for expanding its canopy footprint on its 250 acres of property with a goal to produce 15,000 kg per annum, which would make Invictus MD a top producer under the ACMPR. Our production will satisfy the significant demand in Canada for high quality, standardized, pesticide free product for the current medical cannabis market and the recreational market that will begin mid 2018.”
About Invictus MD Strategies Corp.
Invictus MD Strategies Corp. is focused on two main verticals within the Canadian cannabis sector, namely the Licensed Producers under the ACMPR, being its 100% investment in Acreage Pharms Ltd., located in West-Central Alberta, and 33.3% investment AB Laboratories Inc., located near Hamilton, Ontario. Combined the two licenses expect to have run-rate production capacity of 6,000 kg commencing January 2018. Invictus MD is currently fully funded to expand operations at its two ACMPR licensees to approximately 150,000 sq. ft., which would net approximately 20,000 kg per annum. In addition to ACMPR licenses the Company has an 82.5% investment in Future Harvest Development Ltd. a Fertilizer and Nutrients manufacturer based in Kelowna, British Columbia.
For more information, please visit www.invictus-md.com.
On Behalf of the Board,
Dan Kriznic
Chairman & CEO
Larry A Heinzlmeir
Vice President, Marketing & Communications
604.537.8676
Cautionary Note Regarding Forward-Looking Statements: This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws or forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, assumptions or expectations of future performance, including the potential production capacity of AB Labs, AB Ventures and Acreage Pharms’ production facilities, the granting of regulatory approval and anticipated timing of AB Labs reaching full production capacity, the granting of a sales license under the ACMPR to AB Labs, AB Ventures and Acreage Pharms, the success and timing of AB Labs’ release of additional lots; and the success and timing of Acreage Pharms’ expansion plans, are forward-looking statements and contain forward-looking information. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or “occur”. Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this press release, including the assumptions AB Labs, AB Ventures and Acreage Pharms will receive regulatory approval to sell medical cannabis at their production facilities’ full capacity, AB Ventures will be granted a license under the ACMPR, AB Ventures is able to successfully build a production facility and Acreage Pharms is able to successfully complete its expansion plans. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Important factors that may cause actual results to vary, include, without limitation, the risk that AB Labs, AB Ventures and Acreage Pharms will not receive regulatory approval to sell medical cannabis at their production facilities or reach full production capacity, AB Ventures will not be granted a license under the ACMPR, AB Ventures is not able to successfully build a production facility; and Acreage Pharms is not able to successfully complete its expansion plans. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
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.
Golden Leaf Secures Cultivation License From Health Canada
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/11/27/GLH-GLDFF-Golden-Leaf-Secures-Cultivation-License-From-Health-Canada-for-Ontario-Facility
PORTLAND, Ore., Nov. 27, 2017 (GLOBE NEWSWIRE) -- Golden Leaf Holdings Ltd. (“GLH” or the “Company”) (CSE:GLH) (OTC:GLDFF), a leading cannabis oil solutions company and dispensary operator built around recognized brands, today announced that on November 24, 2017, its subsidiary, Medical Marijuana Group Corporation (“MMG”), was granted a cultivation license for its marijuana grow facility located in St. Thomas, Ontario. MMG’s St. Thomas facility is expected to use the most current and advanced growing technologies to maximize its 6000 square foot space to yield high value crops difficult to replicate in greenhouse operations. MMG expects to submit expansion plans for additional growing space, oil extraction labs and edible production space at the St. Thomas facility.
“Receiving this license represents a landmark step for Golden Leaf, as it will provide entry into what we expect will be a burgeoning Canadian cannabis market in 2018,” commented Mr. William Simpson, Chief Executive Officer of the Company. “Expanding into emerging growth markets such as Canada will enable Golden Leaf to leverage its expertise and experience in the oil extraction and edibles markets to achieve a significant market presence as Canada’s recreational cannabis market evolves. We are confident that the combination of our established Golden and Chalice Farms brands will position MMG as a market leader.”
Phil Millar, President of MMG added, “We are very excited to receive this key license from Health Canada and look forward to continuing to work with the agency towards expanding the operating scale of our St. Thomas facility. We are confident in our prospects to establish MMG as a vertically integrated provider of high quality cannabis oils and edibles to the cannabis marketplace in Canada beginning in 2018, targeting both medical and adult-use segments.”
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About Golden Leaf Holdings
Golden Leaf Holdings Ltd., based in Portland, Oregon, is one of the largest cannabis oil and solution providers in North America, and a leading cannabis products company built around recognized brands. Golden Leaf Holdings cultivates, extracts and manufactures and distributes its products through its branded Chalice Farm retail dispensaries, as well as through third party dispensaries. Golden Leaf leverages a strong management team with cannabis and food industry experience to complement its expertise in extracting, refining and selling cannabis oil. Visit http://goldenleafholdings.com/ to learn more.
Disclaimer: This press release contains "forward-looking information" within the meaning of applicable securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the Company’s future business operation, expectations of gross sales, the opinions or beliefs of management and future business goals, statements regarding the timing for receipt of the additional licenses, and management's expectations with respect to the impact of receipt of the additional linceses. Generally, forward looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "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 information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to general business, economic and competitive uncertainties, regulatory risks including risks related to the expected timing of the Company’s participation in the Adult Use market, market risks, risks inherent in manufacturing operations and other risks of the cannabis industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information. Forward-looking information is provided herein for the purpose of presenting information about management’s current expectations relating to the future and readers are cautioned that such information may not be appropriate for other purpose. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws. This Release does not constitute an offer of securities for sale in the United States, and such securities may not be offered or sold in the United States absent registration or an exemption from registration or an exemption from registration.
GREAT news for Namaste again!
Aurora's BC Northern Lights and Namaste Sign Supply Agreement
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/11/27/ACB-ACBFF-Auroras-BC-Northern-Lights-and-Namaste-N-NXTTF-Sign-Supply-Agreement
VANCOUVER, Nov. 27, 2017 /CNW/ - Aurora Cannabis Inc. (the "Company" or "Aurora") (TSX:ACB) (OTC:ACBFF) (Frankfurt: 21P; WKN: A1C4WM) and Namaste Technologies Inc. ("Namaste") (CSE:N) (FRANKFURT: M5BQ) (OTC:NXTTF) are pleased to announce that Aurora's wholly owned subsidiary BC Northern Lights ("BCNL") and Namaste Technologies have signed a Hardware Supply Agreement (the "Agreement") whereby Namaste will be the first third-party distributor to sell BCNL's premium home cultivation systems and accessories through its online technology platform.
Namaste will roll out same-day delivery service of select BCNL products to the Greater Toronto Area ("GTA"), as well as next day delivery in most other parts of Canada, to help meet the growth in demand for home gardening systems anticipated with the passing of the federal Cannabis Act (the "Act") to legalize adult consumer use, as well as continued rapid growth of the medical cannabis market.
Legislation announced by the Ontario Government foresees a provincial monopoly on cannabis sales upon introduction of adult consumer use, with only a limited number of stores servicing Canada's most populous province. As the Act does allow for up to four cannabis plants per household, it is anticipated that home gardening will become an increasing segment of the market. This creates an opportunity that BCNL, with its gold standard products and strong brand recognition, is exceptionally well positioned to capitalize on.
The Agreement is expected to accelerate BCNL product sales and create a new revenue channel for Namaste by leveraging its existing traffic, distribution network, and e-commerce platform, and is aligned with Namaste's intention to offer the most extensive range of high-quality ancillary products in the cannabis industry. The distributorship of BCNL products follows on an earlier agreement between the two companies, as announced on September 28, 2017, through which Aurora, through its website, is offering a specially curated selection of industry-leading, Namaste-sourced vaporizers to its registered patient base, utilizing Namaste's technology platform and delivery infrastructure.
Management Commentary
"Aurora and our growing constellation of top-notch subsidiaries have become partners of choice in this sector, at home and around the world, and that's extremely gratifying," said Terry Booth, Aurora's CEO. "It speaks to the power of the Aurora Standard in terms of product quality and customer care, to the trust we inspire in our partners, and to our ability to execute fast and well. We love bringing great companies together, and we're delighted that Namaste is now helping us bring BCNL's excellent, efficient and elegant cultivation products to an even broader audience of customers."
Sean Dollinger, President and CEO of Namaste said, "We are very proud to have signed this Agreement with BCNL and to bring value to our relationship with Canada's most dynamic licensed producer. We greatly value our relationship with Aurora. Namaste sees large growth potential in home-based indoor cultivation industry and has high expectations for sales through this new channel. This Agreement further exemplifies Namaste's role as the industry's leading e-commerce retailer in offering the most innovative products along with partners like Aurora. The ancillary market, in our experience, is ideal for e-commerce penetration and offers very substantial expansion opportunities, and we would like to thank both the Aurora and BCNL management teams for this amazing opportunity."
About BC Northern Lights
Founded in 2001 and with over 10,000 units sold, BCNL is a leader in developing, manufacturing and marketing self-contained indoor hydroponic grow systems. BCNL's offerings include grow boxes and cultivation consumables such as lights, carbon filters, grow medium and specialized nutrients, as well as seven days per week support for its customers. The nature of BCNL's systems enables year-long, consistently high yields of cannabis within a safe, efficient, and discrete environment. BCNL's multi-award winning systems provide for discreet and odorless operations. Professionally engineered, BCNL's products provide the highest level of safety, addressing one of the key concerns neighbours living in the vicinity of home growers may have, particularly in multi-dwelling settings. www.bcnorthernlights.com
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 9.6% of the issued shares (12.9% on a fully-diluted basis) 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 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 Europeand 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
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. Aurora and Namaste are 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, nor CSE, nor their Regulation Services Provider (as that term is defined in the policies of Toronto Stock Exchange and Canadian Securities Exchange) accept responsibility for the adequacy or accuracy of this release.
Canopy Growth Enters Definitive Agreement to Acquire Hemp Asset
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/11/27/WEED-TWMJF-Canopy-Growth-Corp-Enters-Definitive-Agreement-to-Acquire-Green-Hemp-Industries-Assets
HAGEN, SK, Nov. 27, 2017 /CNW/ - Canopy Growth Corporation (TSX:WEED) ("Canopy Growth" or "the Company") continues to develop its hemp operations. It has entered into a definitive agreement to acquire certain assets and intellectual property (the "Transaction") from Green Hemp Industries Ltd. ("Green") and its principal, Jason Green. Green is a veteran hemp farm operator based in Saskatchewan. The Transaction marks a major milestone in Canopy Growth's hemp business and is expected to enhance Canopy Growth's vertically integrated field-scale hemp production capabilities.
In addition to acquiring Green's farm operations and associated assets, equipment, genetic stock, and other property, Canopy Growth will operate approximately 300 acres of existing hemp production after completion of the Transaction, which it anticipates will be scalable to 2,200 acres for the 2018 growing season.
"Green has developed an optimized process to grow, harvest, collect, and extract the whole hemp plant at field-scale and in a fashion that meets a high standard for product quality. We look forward to rapidly scaling this operation so that, in combination with our existing hemp assets, we capitalize on the new opportunities outlined in the government's proposed regulatory framework," said Bruce Linton, Chairman and CEO, Canopy Growth.
Should the regulations change in accordance with the Proposed Approach to the Regulation of Cannabis discussion paper, material collected at Green could be processed for cannabinoid extraction at the Tweed Grasslands facility in Saskatchewan, which will be home to one of the largest hemp cannabinoid processing facilities in the world. By building the amount of CBD under Canopy operations the Company will be able to expand its lineup of cannabinoid based products.
On completion of the Transaction, Jason Green will join the Company's hemp division as Head of Agriculture. Jason serves as a director of the Canadian Hemp Trade Alliance and is a well-known force in hemp growing, processing and genetics breeding.
The Transaction is subject to certain closing conditions including, but not limited to, the approval of the Toronto Stock Exchange. It is expected to close in late December 2017 or January 2018.
On closing, the Company will reimburse Green for crop input expenses and will issue 24,576 common shares. The Company expects to issue up to another 24,576 common shares if certain production related milestones are achieved.
Here's to Future Growth.
About Canopy Growth Corporation
Canopy Growth is a world-leading diversified cannabis company, offering distinct brands and curated cannabis varieties in dried, oil and capsule forms. Through its wholly-owned subsidiaries, Canopy Growth operates numerous state-of-the-art production facilities with over 700,000 sq. ft. of licensed production, over 500,000 sq. ft. of which is GMP-certified. Looking forward to 2018, Canopy Growth and its affiliates expect to develop a production platform that would represent 3.2 million sq. ft. of indoor and greenhouse production capacity, all operated with world-leading production, quality assurance procedures, value-add post processing, research, and testing. Canopy Growth has established partnerships with leading sector names in Canada and abroad, with interests and operations spanning seven countries and four continents. The Company is proudly dedicated to educating healthcare practitioners, providing consistent access to high quality cannabis products, conducting robust clinical research, and furthering the public's understanding of cannabis. 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, Tweed Inc., Tweed Farms Inc. or Bedrocan Canada Inc. to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Examples of such statements may relate to, among other things, future operational and production capacity, the impact of enhanced infrastructure and production capabilities, forecasted available product selection, the anticipated regulatory environment in which the Company operates, the anticipated benefits of the Transaction, and whether the Transaction is completed as anticipated. The forward-looking statements included in this news release are made as of the date of this news release and Canopy Growth Corp. 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.
22nd Century Will Discontinue U.S. Sales of RED SUN Brand
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/11/22/XXII-22nd-Century-Will-Discontinue-US-Sales-of-RED-SUN-Brand
Anticipating FDA’s “Reduced Nicotine Mandate,” 22nd Century Will Discontinue U.S. Sales of RED SUN Brand
CLARENCE, N.Y.--(BUSINESS WIRE)-- 22nd Century Group, Inc. (NYSE:XXII), a plant biotechnology company focused on tobacco harm reduction and hemp/cannabis research, announced today that, in preparation for the planned mandate by the U.S. Food and Drug Administration (FDA) that all cigarettes sold in the United States contain only minimally or non-addictive levels of nicotine, the Company will discontinue U.S. sales of RED SUN brand cigarettes.
Over the last 6 years, agencies of the U.S. federal government have invested more than $100 million in independent clinical research with 22nd Century’s proprietary SPECTRUM cigarettes. The results of numerous independent studies strongly support the conclusion that lowering nicotine levels in combustible tobacco cigarettes will drastically improve public health.
Because RED SUN cigarettes do not contain the Company’s proprietary Very Low Nicotine tobacco, 22nd Century believes that the continued marketing of the brand is inconsistent with the FDA’s plan to drastically reduce nicotine in all combustible cigarettes that are sold in the United States.
“22nd Century stands ready to cooperate fully and enthusiastically with the FDA to drastically reduce nicotine content in cigarettes. In this spirit, we have decided to retire the RED SUN brand in the U.S.,” explained Henry Sicignano, III, President and CEO of 22nd Century Group. “On the other hand, for the vast majority of American smokers who wish to quit smoking – or to significantly reduce the number of cigarettes they smoke – it is clear that 22nd Century’s Very Low Nicotine cigarettes will be a revolutionary product.”
As previously reported, 22nd Century is remarkable for its ability to grow tobacco with minimally or non-addictive levels of nicotine – without any artificial extraction or chemical processes. 22nd Century’s Very Low Nicotine cigarette brand styles contains as little as 0.4 mg nicotine per cigarette – a reduction of at least 95% less nicotine relative to leading cigarette brands in the U.S. market.
“The Tobacco Control Act explicitly and unambiguously gives the FDA the authority to regulate nicotine levels in cigarettes,” explained James E. Swauger, PhD, Senior Vice President of Science and Regulatory Affairs for 22nd Century Group. “22nd Century stands ready to partner with the FDA and with any company that is committed to improving the health of American smokers.”
For smokers outside of the United States who refuse to quit, who accept the health risks associated with smoking, and who also seek a potentially reduced exposure product, 22nd Century remains committed to the development of relatively high nicotine cigarettes that satisfy smokers’ craving for nicotine while delivering far less tar. Accordingly, for international markets, the Company is investing in the patents and the research necessary to create a reduced exposure cigarette with relatively higher levels of nicotine.
Underlining 22nd Century’s commitment to this effort, in the second quarter of 2017, the FDA granted 22nd Century authorization to conduct an exposure study on the Company’s BRAND B, low tar-to-nicotine ratio cigarettes. BRAND B has been developed to show that as smokers make the adjustment to higher nicotine cigarettes, they take in less smoke per unit of nicotine inhaled.
On November 14, 2017, the United States Patent and Trademark Office awarded 22nd Century a patent that describes the means to produce cigarettes that expose smokers to reduced amounts of harmful constituents. This new patent covers tobacco with increased nicotine levels and cigarettes with reduced tar-to-nicotine ratios. This patent also includes methods for reducing harmful tobacco-specific nitrosamines (TSNAs), which are known carcinogens.
“22nd Century’s patent portfolio continues to grow and demonstrates clearly our commitment to disruptive technology that will dramatically improve public health,” explained Mr. Sicignano. “Looking forward, we expect to substantially increase Company sales again in 2018, we are excited about the FDA’s bold plan to mandate minimally or non-addictive levels of nicotine in cigarettes, and we are already taking steps to produce enough of our proprietary Very Low Nicotine tobacco seed to supply the entire U.S. industry.”
About 22nd Century Group, Inc.
22nd Century is a plant biotechnology company focused on genetic engineering and plant breeding which allows the increase or decrease of the level of nicotine in tobacco plants and the level of cannabinoids in cannabis/hemp plants. The Company’s primary mission in tobacco is to reduce the harm caused by smoking. The Company’s primary mission in cannabis is to develop proprietary hemp/cannabis strains for important new medicines and agricultural crops. Visit www.xxiicentury.com and www.botanicalgenetics.com for more information.
Cautionary Note Regarding Forward-Looking Statements: This press release contains forward-looking information, including all statements that are not statements of historical fact regarding the intent, belief or current expectations of 22nd Century Group, Inc., its directors or its officers with respect to the contents of this press release, including but not limited to our future revenue expectations. The words “may,” “would,” “will,” “expect,” “estimate,” “anticipate,” “believe,” “intend” and similar expressions and variations thereof are intended to identify forward-looking statements. We cannot guarantee future results, levels of activity or performance. You should not place undue reliance on these forward-looking statements, which speak only as of the date that they were made. These cautionary statements should be considered with any written or oral forward-looking statements that we may issue in the future. Except as required by applicable law, including the securities laws of the United States, we do not intend to update any of the forward-looking statements to conform these statements to reflect actual results, later events or circumstances, or to reflect the occurrence of unanticipated events. You should carefully review and consider the various disclosures made by us in our annual report on Form 10-K for the fiscal year ended December 31, 2016, filed on March 8, 2017, including the section entitled “Risk Factors,” and our other reports filed with the U.S. Securities and Exchange Commission which attempt to advise interested parties of the risks and factors that may affect our business, financial condition, results of operation and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected.
GW Pharmaceuticals to Present at Upcoming Investor Conferences
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/11/22/GWPH-GW-Pharmaceuticals-Justin-Gover-to-Present-at-Upcoming-Investor-Conferences
– 29th Annual Piper Jaffray Healthcare Conference on November 29, 2017 –
– Evercore ISI 2017 Biopharma Catalyst/Deep Dive Conference on November 30, 2017 –
LONDON, Nov. 22, 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 that Justin Gover, GW’s Chief Executive Officer, will be presenting at the 29th Annual Piper Jaffray Healthcare Conference on Wednesday, November 29, 2017 at 12:00 p.m. ET at the Lotte New York Palace, New York, NY and at the Evercore ISI 2017 Biopharma Catalyst/Deep Dive Conference on Thursday, November 30, 2017 at 2:00 p.m ET at the Boston Harbor Hotel in Boston, MA.
A live audio webcast of the presentations will be available through GW’s corporate website at www.gwpharm.com on the Investors section under Events & Presentations. A replay will be available soon after the live presentation.
About GW Pharmaceuticals plc
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.
CannaRoyalty Produces First Run of GreenRock Vape Pens
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/11/22/CRZ-CNNRF-CannaRoyalty-Produces-First-Run-of-GreenRock-Vape-Pens
CannaRoyalty Corp. (CSE:CRZ) (OTC:CNNRF) announced this morning that its wholly-owned business unit, CR Brands, has completed its first commercial production run of GreenRock Botanicals medical marijuana distillate vape pens for distributor, River.
River placed an initial purchase commitment of more than $165,000 USD for GreenRock Botanicals products, which equates to a retail value of over $400,000 USD. CR Brands expects to ship this initial order in the coming days. This is the second consumer product line that CR Brands has launched through its partnership with River in California, following the launch of its Soul Sugar Kitchen gourmet edibles line in October 2017.
"As we approach the advent of a full adult-use market in California in less than 40 days, we are ramping up commercial production for our portfolio of premium, quality cannabis products in the state," said Marc Lustig, CEO of CannaRoyalty. "With over 20 years of medical legalization and a broad range of permitted products, California is home to some of the most sophisticated cannabis consumers in the world. We have seen strong preliminary interest from consumers in our products but are still in the early days of executing our product and brand strategy. Over the next 12 months we will work to introduce new product lines and opportunistically add established, value-add brands to our portfolio in California, which can later be licensed into other key markets."
CR Brands is currently retrofitting its new Santa Rosa facility to produce the growing suite of CR Brand products in the California market. The facility is located in a commercial complex with several tenants that have been licensed for cannabis production and distribution by the city of Santa Rosa, and the company is in the process of applying for its own processing license. The facility has the capacity to accommodate significant growth in the growing CR Brands portfolio.
Dave Vautrin, President of CR Brands, added, "As a team, we have significant experience commercializing differentiated consumer products and building successful brands in the U.S. consumer-packaged goods space. Despite being in the initial phases of our growth in California, we are already pleased with the early uptake of Soul Sugar Kitchen™, which has been picked up by 92 dispensaries since its launch in September. We will next launch GreenRock Botanicals™ through the River distribution channel and will focus on growing the points of distribution for both product lines, as well as driving performance on an individual dispensary level. We are primarily focused on brand-building and uptake at this point, which will ultimately lead to sustainable traction on the top-line. Consolidating manufacturing and processing control into Santa Rosa and moving away from third-party manufacturers will also give us more control and visibility from concept to consumer and enable us to begin to optimize the price and cost equation as we scale."
The investment in River has driven the growth of CR Brands' retail footprint in California. River has agreed to a preferred product distribution arrangement with a contractual commitment by River to purchase no less than $20 million USD worth of CR Brands' portfolio of products through December 31, 2024, subject to certain conditions including the commercial viability of the products.
This announcement comes after CannaRoyalty's recent announcement that it signed a letter of intent with Æther Gardens, a vertically-integrated cannabis cultivator, extractor, and manufacturer, to launch CR Brands products into the Nevada market with a focus on Las Vegas.
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Canopy Growth Welcomes Sweetgrass Inc. as Newest Craftgrow Partner
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/11/20/WEED-TWMJF-Canopy-Growth-Welcomes-Sweetgrass-Inc-as-Newest-Craftgrow-Partner
SMITHS FALLS, ON, Nov. 20, 2017 /CNW/ - Canopy Growth Corporation (TSX:WEED) ("Canopy Growth" or "the Company") is pleased to welcome Sweetgrass Inc. ("Sweetgrass"), a Strathcona County, Alberta-based ACMPR applicant, to Tweed's curated CraftGrow line.
Pending license approvals, Sweetgrass will supply its cannabis products via Tweed Main Street, the most diverse cannabis marketplace in Canada. The agreement will serve to increase the amount of variety and consistency of supply available to Tweed's registered medical cannabis customers.
The program accelerates speed to market for newly licensed producers and provides brand and product exposure by selling partner products via www.tweedmainstreet.com to the market's largest group of actively registered customers. As recreational markets in Canadian provinces emerge with distribution details, Canopy Growth will also work to bring its existing CraftGrow partners through these distribution channels.
"Bringing diversity to the market has been a major differentiator for our business. Through CraftGrow partners like Sweetgrass, our recent collaboration with Green House Seeds and Organa Brands, and a wealth of other sector-leading partnerships, we're leading the way towards a diverse marketplace for cannabis products in Canada," said Mark Zekulin, President, Canopy Growth. "Through provincial distribution channels, brick and mortar locations, and our online Main Street e-commerce platform we are diversifying our ability to deliver a one-stop shopping experience to consumers and provincial bodies alike."
The CraftGrow program provides Sweetgrass direct access to Canopy Growth's extensive operational, distribution, marketing and sales infrastructure through the Tweed Main Street online marketplace where a new order is placed on average every ninety seconds. Its sector-leading fulfillment centre then ships these orders to customers across the country, at a rate of 1 gram every 4 seconds.
The 115,000 square foot Sweetgrass facility is headquartered in close proximity to Canopy Growth's existing Edmonton facility and is currently in the fit-up phase with product expected, pending appropriate licensing, by summer 2018. Collectively, their core founding team represents over 75 years of financial, construction, development, design, and managerial experience. Grow Superintendent, Ryan Murray, is an award-winning cannabis producer with a long history of serving medical patients in the MMAR program.
"Sweetgrass Inc. is a privately held company which combines sound business practices, visionary thinking, and an award-winning grow team. Our focus is producing outstanding products by evolving and refining strains to create exquisite genetics," said Kathren McMaster, Chief Communications Officer, Sweetgrass Inc. "'Quality High' defines our brand. Strong, qualified business leadership, creative vision, and horticultural expertise define our company. Sweetgrass is proud to be selected by Canopy Growth Corporation to be part of the CraftGrow line-up. We value this opportunity to share our brand and high quality product with Canadian patients and regulated recreational consumers."
Here's to Good New Neighbours and Future Growth.
About Canopy Growth Corporation
Canopy Growth is a world-leading diversified cannabis company, offering distinct brands and curated cannabis varieties in dried, oil and capsule forms. Through its wholly-owned subsidiaries, Canopy Growth operates numerous state-of-the-art production facilities with over 700k sq. ft. of licensed production, over 500k sq. ft. of which is GMP-certified. Looking forward to 2018, Canopy Growth and its affiliates are developing a production patform that will represent 3.2 million sq. ft. of indoor and greenhouse production capacity, all operated with world-leading production, quality assurance procedures, value-add post processing, research, and testing. Canopy Growth has established partnerships with leading sector names in Canada and abroad, with interests and operations spanning seven countries and four continents. The Company is proudly dedicated to educating healthcare practitioners, providing consistent access to high quality cannabis products, conducting robust clinical research, and furthering the public's understanding of cannabis. For more information visit www.canopygrowth.com.
About Sweetgrass Inc.
Sweetgrass is a Canadian medical-grade cannabis company based in Strathcona County, Alberta, and current ACMPR licence applicant. Combining sound business practices, visionary thinking, and an award-winning grow team is the core business model at Sweetgrass Inc. Moving forward, the company will offer quality cannabis products to the Canadian market supported by top-tier services. Sweetgrass hopes to change the way the world thinks about medical cannabis and will continue to focus on evolving and refining strains to produce high-quality genetics for medical cannabis patients across the country. Learn more at www.sweetgrass.ca
Notice Regarding Forward Looking Statements
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