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Sugarbud Announces Financial & Operating Results for Third Quarter 2019 and Intention to be Cash Flow Positive in Third Quarter of 2020
Sugarbud Craft Growers Corp. (CNW Group/SugarBud Craft Growers Corp.)
NEWS PROVIDED BY
SugarBud Craft Growers Corp.
Nov 28, 2019, 20:37 ET
CALGARY, Nov. 28, 2019 /CNW/ - Sugarbud Craft Growers Corp. (TSXV: SUGR, SUGR.WT, SUGR.RT) ("Sugarbud" or the "Company") is pleased to announce the filing of its unaudited condensed consolidated interim financial statements ("Financial Statements") for the three and nine months ended September 30, 2019 ("Q3 2019") and related management's discussion and analysis ("MD&A"), which are available on SEDAR at www.sedar.com and on Sugarbud's website at www.sugarbud.ca.
"Q3 2019 was a productive and pivotal period for Sugarbud," stated John Kondrosky, Sugarbud CEO. "In addition to receiving our cultivation, processing and medical licenses from Health Canada, we completed the transfer and receipt of our starting material under our declaration to Health Canada and began cultivation activities in our purpose built 29,800 square-foot facility in Stavely, Alberta which, at full production, currently has an estimated annual production design capacity of between 9.9 and 11.7 million grams."
"We are pleased with the quality and variety of the cultivars we have received and while we held back production a little longer than we would have liked in order to complete our incoming quality inspections, we remain on track to deliver a strong first harvest, which we now expect will occur in early Q1," continued Mr. Kondrosky.
During the quarter the company also announced two cornerstone supply agreements that combined represent 1,700,000 grams of committed dried cannabis supply in 2020 or approximately 72% of the total estimated initial production capacity of Sugarbud's two fully licensed cultivation rooms in 2020. At full production capacity, these two rooms have a design capacity to produce an estimated 3.3 to 3.9 million grams annually.
"In addition to a clear line of sight to first revenue, we continue to take meaningful steps to strengthen our balance sheet and control operating expenses as we focus on scaling up our business. We have identified and are executing against a very controlled and balanced capital expansion plan that supports sustainable growth and maximizes return on investment," Mr. Kondrosky added.
The Company has several facility buildout options which it can deploy, however the current strategy; which is focused on achieving near term capacity expansion and generating sustainable positive cash flow by late Q3 2020, will see Phase 1a expanded primarily through additional HVAC in cultivation rooms 1 and 2 which are already licensed. The capital budget required to complete this expansion is estimated to be approximately $2.5 million and the Company is working towards financing a significant portion of this through previously announced equipment leasing arrangements.
The company also recently announced the close of a $925,000 private placement, of which management and board members took up 47%, and the launch of a $5 million rights offering.
Pursuant to the Rights Offering, each holder ("Eligible Holder") of Common Shares as of the Record Date that is a resident in any province of territory of Canada (other than Québec) (the "Eligible Jurisdictions") will receive one transferable right (each, a "Right") for every Common Share held. Every four Rights will entitle the holder to purchase one Unit at a price of $0.0550 until 4:00 p.m. (Calgary time) on the expiry date of December 20, 2019 (the "Expiry Date"), after which all outstanding Rights will terminate. Each Unit will be comprised of one Common Share and one Warrant. The Warrants issued pursuant to the Rights Offering will be on the same terms as those issued pursuant to the Private Placement, including early expiry upon the VWAP equaling or exceeding $0.125. Subscribers of Units under the Private Placement will have a right to participate in the Rights Offering with respect to any Common Shares acquired pursuant to the Private Placement.
There will be no additional subscription privilege and no standby commitment in respect of the Rights Offering. The completion of the Rights Offering will not be subject to Sugarbud receiving any minimum amount of subscriptions from Eligible Holders.
Credit Suisse AG Announces the Reverse Splits of its VIIX and TVIX ETNs
Source: PR Newswire (US)
NEW YORK, Nov. 22, 2019 /PRNewswire/ -- Credit Suisse AG announced today that it will implement a 1-for-5 reverse split of its VelocityShares™ VIX Short Term ETN ("VIIX") and a 1-for-10 reverse split of its VelocityShares™ Daily 2x VIX Short Term ETN ("TVIX"), each expected to be effective as of December 2, 2019.
Credit Suisse logo. (PRNewsFoto/Credit Suisse)
The reverse splits will be effective at the open of trading on December 2, 2019. VIIX and TVIX will each begin trading on the Nasdaq Stock Market on a reverse split-adjusted basis on December 2, 2019. Holders of VIIX who purchase such ETNs prior to December 2, 2019 will receive one reverse split-adjusted ETN for every five pre-reverse split ETNs. Holders of TVIX who purchase such ETNs prior to December 2, 2019 will receive one reverse split-adjusted ETN for every ten pre-reverse split ETNs.
In addition, such purchasers that hold a number of ETNs not evenly divisible by five or ten, as applicable, will receive a cash payment for any fractional ETNs remaining (the "partials"). The cash amount due on any partials will be determined on December 6, 2019 based on the respective closing indicative values of VIIX and TVIX on such date and will be paid by Credit Suisse AG on or about December 11, 2019.
The closing indicative values of VIIX and TVIX on November 29, 2019 will be multiplied by five, and ten, respectively, to determine their respective reverse split-adjusted closing indicative values. Following the reverse splits, VIIX and TVIX will have new CUSIPs but will retain their current ticker symbols.
The reverse splits will affect the trading denominations of VIIX and TVIX, but they will not have any effect on the stated principal amount of any ETN, except that the stated principal amount of each will be reduced by the corresponding aggregate amount of any cash payments for "partials."
Illustrations of Reverse Splits
The following table shows the effect of a 1-for-5 reverse split on the hypothetical closing indicative value of such ETN. The closing indicative value of an ETN is not the same as the trading price of such ETN.
Number of
ETNs
Hypothetical Closing
Indicative Value
Aggregate Closing
Indicative Value
Pre-Reverse Split
100,000
$5.00
$500,000
1-for-5 Post-Reverse Split
20,000
$25.00
$500,000
The following table shows the effect of a 1-for-10 reverse split on the hypothetical closing indicative value of such ETN. The closing indicative value of an ETN is not the same as the trading price of such ETN.
Number of
ETNs
Hypothetical Closing
Indicative Value
Aggregate Closing
Indicative Value
Pre-Reverse Split
100,000
$5.00
$500,000
1-for-10 Post-Reverse Split
10,000
$50.00
$500,000
None of the other exchange traded notes issued by Credit Suisse AG are affected by these announcements.
Reverse Split
Exchange Ticker Symbol
Current CUSIP / New CUSIP
VelocityShares™ VIX Short Term ETN due December 4,
2030
VIIX
22542D365 / 22542D266
VelocityShares™ Daily 2x VIX Short Term ETN due
December 4, 2030
TVIX
22542D332 / 22542D258
Press Contacts
Karina Byrne, Credit Suisse AG, telephone +1 212 538 8361, karina.byrne@credit-suisse.com
Credit Suisse ETNs
Telephone +1 800 320 1225, ETN.Desk@credit-suisse.com
Credit Suisse AG
Credit Suisse AG is one of the world's leading financial services providers and is part of the Credit Suisse group of companies (referred to here as 'Credit Suisse'). Our strategy builds on Credit Suisse's core strengths: its position as a leading wealth manager, its specialist investment banking capabilities and its strong presence in our home market of Switzerland. We seek to follow a balanced approach to wealth management, aiming to capitalize on both the large pool of wealth within mature markets as well as the significant growth in wealth in Asia Pacific and other emerging markets, while also serving key developed markets with an emphasis on Switzerland. Credit Suisse employs approximately 47,440 people. The registered shares (CSGN) of Credit Suisse AG's parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.
Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/credit-suisse-ag-announces-the-reverse-splits-of-its-viix-and-tvix-etns-300963728.html
SOURCE Credit Suisse AG
Copyright 2019 PR Newswire
Sugarbud Announces Private Placement, Non-Dilutive Capital Equipment Financing and Rights Offering
SugarBud Craft Growers Corp. (CNW Group/SugarBud Craft Growers Corp.)
NEWS PROVIDED BY
SugarBud Craft Growers Corp.
Nov 15, 2019, 07:00 ET
/NOT FOR DISTRIBUTION OR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW./
CALGARY, Nov. 15, 2019 /CNW/ - Sugarbud Craft Growers Corp. (TSXV: SUGR, SUGR.WT) ("Sugarbud") is pleased to announce a non-brokered private placement (the "Private Placement") for gross proceeds of $925,000 and the execution of an agreement in respect of non-dilutive equipment financing arrangements (the "Capital Equipment Financing"). Sugarbud is also pleased to announce a rights offering (the "Rights Offering") to holders of common shares ("Common Shares") of Sugarbud as of November 25, 2019 (the "Record Date") for proceeds of up to approximately $5.2 million.
"Despite very challenging market conditions, we continue to make good progress with our overall capital financing efforts to fuel our expansion and strengthen our balance sheet, stated Sugarbud CEO, John Kondrosky. We remain mindful of overall shareholder value and continue to approach our capital funding requirements in a measured and balanced manner. Combined with a strong insider lead Private Placement, significant non-dilutive Capital Equipment Financing and the planned Rights Offering, Sugarbud is well positioned to drive meaningful progress and sustainable growth heading into 2020", added Mr. Kondrosky.
Pursuant to the Private Placement, Sugarbud will issue 18,500,000 units ("Units") of Sugarbud at a price of $0.05 per Unit, for total proceeds of $925,000. Each Unit will be comprised of one Common Share and one Common Share purchase warrant (each, a "Warrant"). Each Warrant will entitle the holder to purchase one Common Share at a price of $0.10 for a period of two years from the date of issuance, subject to early expiry in the event that the 5-day volume weighted average trading price of the Common Shares ("VWAP") equals or exceeds $0.125.
The Common Shares and Warrants will be subject to a four month hold period under applicable securities laws in Canada. The Private Placement is fully subscribed and committed and is expected to close on or before November 18, 2019, subject to customary closing conditions, including the approval of the TSX Venture Exchange (the "TSXV").
Due to the participation of directors, officers and other insiders of Sugarbud, who are related parties of Sugarbud pursuant to Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"), the Private Placement will constitute a "related party transaction" within the meaning of MI 61-101. In its consideration and approval of the Private Placement, the board of directors of Sugarbud determined that the Private Placement was exempt from the formal valuation and minority approval requirements of MI 61-101 on the basis that the fair market value of the Private Placement to related parties did not exceed 25% of the market capitalization of Sugarbud, in accordance with Sections 5.5 and 5.7 of MI 61-101.
Pursuant to the Capital Equipment Financing, Sugarbud has the opportunity to utilize equipment financing to advance the final build out and full scale-up of two existing cultivation rooms and one new room. Under the terms of the agreement, Grand HVAC will provide Sugarbud with $0.4 million in immediate vendor lease back funds for capital equipment already deployed at the Company's cultivation facility in Stavely, Alberta (the "Stavely Facility"). The agreement has a six-year term and includes the option to buyout the equipment. The Capital Equipment Financing allows the Company to better utilize the collateral value associated with its Stavely Facility.
The Company is pursuing similar financing terms for the acquisition of additional HVAC, lighting and racking equipment associated with the final scale-up of the two licensed cultivation rooms Phase 1a and the first new cultivation room within Phase 1b. Such lease financing would allow the Company to fund approximately 75% ($2.2 million) of the $3.0 million estimated costs associated with the buildout.
Upon completion of this near-term capital expansion plan, Sugarbud estimates that it will have a dried cannabis production design capacity of approximately 4,150,550 – 5,836,800 grams annually. Sugarbud expects the final scale up of Phase 1a to be complete prior to starting their second harvest cycle in early Q1 2020 and the additional cultivation room in Phase 1b to be complete and fully licensed by Q3 of 2020.
Please click here to access and view an updated version of the Company's corporate presentation.
Pursuant to the Rights Offering, each holder ("Eligible Holder") of Common Shares as of the Record Date that is a resident in any province of territory of Canada (other than Québec) (the "Eligible Jurisdictions") will receive one transferable right (each, a "Right") for every Common Share held. Every four Rights will entitle the holder to purchase one Unit at a price of $0.0550 until 4:00 p.m. (Calgary time) on the expiry date of December 20, 2019 (the "Expiry Date"), after which all outstanding Rights will terminate. Each Unit will be comprised of one Common Share and one Warrant. The Warrants issued pursuant to the Rights Offering will be on the same terms as those issued pursuant to the Private Placement, including early expiry upon the VWAP equaling or exceeding $0.125. Subscribers of Units under the Private Placement will have a right to participate in the Rights Offering with respect to any Common Shares acquired pursuant to the Private Placement.
There will be no additional subscription privilege and no standby commitment in respect of the Rights Offering. The completion of the Rights Offering will not be subject to Sugarbud receiving any minimum amount of subscriptions from Eligible Holders.
The Rights Offering will be made in the Eligible Jurisdictions and in such other jurisdictions where Sugarbud is eligible to make such offering. Details of the Rights Offering will be described in the rights offering circular (the "Rights Offering Circular"), which will be filed on Sugarbud's profile on the SEDAR website on the Record Date.
Subject to the receipt of final approval from the TSXV, the Common Shares are expected to commence trading on the TSXV on an ex-Rights basis at the opening of business on November 22, 2019. This means that Common Shares purchased on or following November 22, 2019 will not be entitled to receive Rights under the Rights Offering. At that time, the Rights are expected to be posted for trading on a "when issued" basis on the TSXV under the symbol "SUGR.RT". Trading of the Rights is expected to continue until 10:00 a.m. (Calgary time) on the Expiry Date.
All shareholders of Sugarbud as of the Record Date will be offered Rights. Accordingly, up to 94,349,114 Common Shares and up to 94,349,114 Warrants will be subscribed for under the Rights Offering. Only Eligible Holders will be issued and forwarded certificates representing the number of Rights they are entitled to ("Rights Certificates").
Registered shareholders wishing to exercise their Rights must forward the completed Rights Certificates along with the applicable funds to the depositary for the Rights Offering, Computershare Trust Company of Canada, by 4:00 p.m. on the Expiry Date. Shareholders who own their Common Shares through an intermediary, such as a bank, trust company, securities dealer or broker, will receive materials and instructions from their intermediary.
The Rights Offering notice will be delivered to all shareholders of Sugarbud as of the Record Date. Rights Certificates will not be issued and forwarded to holders of Common Shares not resident in the Eligible Jurisdictions.
Completion of the Rights Offering is subject to receiving all necessary regulatory approvals, including, but not limited to, final approval from the TSXV.
Sugarbud will raise gross proceeds of up to approximately $5.2 million pursuant to the sale of Common Shares and Warrants under the Rights Offering, assuming 100% participation. Sugarbud will use the proceeds of the Private Placement, Capital Equipment Financing and Rights Offering to further develop its high capacity state-of-the-art vertical cannabis cultivation facility in Stavely, Alberta and for general working capital purposes.
TORONTO, Nov. 5, 2019 /CNW/ - PharmaCielo Ltd. ("PharmaCielo" or the "Company") (TSXV:PCLO, OTC:PHCEF) announces that earlier today it was advised by Creso Pharma Limited ("Creso Pharma") that due to BDO Corporate Finance (WA) Pty Ltd. changing its independent expert report to conclude that the PharmaCielo Share Scheme is neither fair nor reasonable and is not in the best interests of shareholders of Creso Pharma, it is impossible for the Board of Directors of Creso Pharma to support the Share and Option Schemes (the "Schemes") in their current form. As a result of the Creso Pharma Board of Directors changing its recommendation in respect of the Schemes, PharmaCielo has terminated the Scheme Implementation Agreement (the "Scheme Implementation Agreement"), originally announced on June 6, 2019, in accordance with its terms. No break or expense reimbursement fees are payable by either PharmaCielo or Creso Pharma in connection with the termination of the Scheme Implementation Agreement. The AUD$3.8 million (approximately CAD$3.57 million) secured bridge loan (the "Bridge Loan") previously advanced by PharmaCielo to Creso Pharma on June 6, 2019, will now mature on November 30, 2019. The Bridge Loan, which bears interest at a rate of 15% per annum, is secured by a general security agreement over the assets of Creso Pharma and a pledge of the shares of Mernova Medicinal Inc., a subsidiary of Creso Pharma, in favour of PharmaCielo.
"While we are disappointed by this outcome, we have appreciated the interactions between our teams over the past several months and wish them much success in their future endeavours," said David Attard, Chief Executive Officer of PharmaCielo. "Our team has made significant strides over the past several months on an organic basis, expanding cultivation and production with a best in class cost structure, as well as growing international sales. As we near completion of Phase I of our processing centre, which will be capable of producing over 24 metric tonnes of refined cannabis oil capacity per year, we are ramping up sales efforts. We are well-positioned to grow our business and the progress made over the past several months has set the Company up for a strong close to 2019 and solid growth in 2020."
Halted.....
What’s up man, didn’t renew my subscription for iHub, can’t respond to your pm but yeah did a quick scalp on PCLO and the other one...RIP lol. Hope you are killing it!
CALGARY, Alberta, Sept. 03, 2019 (GLOBE NEWSWIRE) -- SugarBud Craft Growers Corp. (TSXV: SUGR, SUGR.WT) ("SugarBud" or the "Company") is pleased to announce that it has received cultivation, processing and medical sales licenses (the “Licenses”) from Health Canada in respect to “Phase 1A” of the Company’s fully constructed, state-of-the-art 29,800 square-foot vertical cannabis cultivation facility in Stavely, Alberta.
Operating Update
The newly licensed “Phase 1A” area of the Stavely facility includes two dedicated flower rooms and all the necessary auxiliary rooms to support an estimated annual cultivation design capacity of approximately 3,300,000 – 3,890,000 grams per year at full scale production. SugarBud will immediately commence cultivation and expects to complete its initial two harvests in December 2019, after which SugarBud intends to submit an application to Health Canada to amend the Licenses to permit cultivation in the remaining six flower rooms in Phase 1 of the facility. At full operational levels, with four layers of flowering canopy, the estimated total cultivation design capacity for Phase 1 is expected to be approximately 13,230,000 – 15,565,000 grams per year. SugarBud expects to begin construction on Phase 2 of the facility in 2020. At full scale the facility is expected to occupy approximately 98,000 square-feet of floor space encompassing core production activities such as cultivation, extraction, processing, genetic breeding, research and development, product development, packaging and distribution. Upon completion of Phase 2, SugarBud estimates that the Stavely facility will have a total cultivation design capacity of approximately 33,075,000 - 38,912,000 grams of premium cannabis annually. Phase 1 is estimated to cost approximately $22.2 million with four layers of flowering canopy. Of this amount, approximately $11.7 million remains to be deployed to complete Phase 1 of the facility. The Company must access additional capital funding to complete Phase 1 through a combination of debt, equity and convertible securities. The Company will commence construction of Phase 2 when capital permits.
Mr. John Kondrosky, Chief Executive Officer of SugarBud, stated: “Receipt of our Licenses from Health Canada is a pivotal milestone for the Company and a major catalyst for our business. I would like to personally thank each and every member of the SugarBud team, including our consultants, for their diligence, effort and commitment over the past year. It was a tremendous effort by everyone involved. As a premium product provider, focused on quality, product leadership and customer satisfaction, we believe that the heart and soul of everything we do starts with what we grow. We cannot wait to officially launch that mission and deliver on that promise. I would like to take this opportunity to thank our investors and shareholders for their ongoing support as we continue to execute on our high-impact business plan.”
Corporate Update
SugarBud is pleased to announce the appointment of Mr. Bradley K. Giblin CA, CFA as Vice President of Finance and Chief Financial Officer of the Company effective September 9th, 2019. Mr. Giblin has more than 18 years of experience in finance, business development, corporate strategy and accounting roles. Mr. Giblin holds Chartered Professional Accountant (CPA CA) and Chartered Financial Analyst (CFA) designations. Prior to SugarBud, Mr. Giblin was Chief Financial Officer of Mount Bastion Oil and Gas Corp., a high growth energy company that was acquired by Surge Energy Inc. for $320 million, a 2x return on investment in a two-year timeframe. Mr. Giblin also led a successful IPO of Maha Energy Inc. on the First North Nasdaq market in Sweden, as well as performing other high impact roles as Chief Financial Officer in publicly traded, start-up companies. Mr. John Kondrosky stated: "Brad brings tremendous experience and leadership to a critical role for SugarBud and I am very pleased to welcome him to our team.”
SugarBud would like to announce that Mr. Craig Kolochuk, co-founder, President and a Director of the Company, has for personal reasons, stepped down as President and a Director effective today. However, Mr. Kolochuk will continue to contribute to the organization as a Special Advisor to the Company on matters of business development, corporate strategy and mergers and acquisitions. Mr. Kondrosky will assume the role of President in the interim.
“Craig has done a phenomenal job in his time at SugarBud following the February 2018 recapitalization of the Company overseeing the construction of the Stavely facility and preparing SugarBud for licensing. I look forward to working closely with Craig in his new capacity to advance SugarBud's vision and mission as we enter a new and critical phase of our growth,” said Mr. Kondrosky.
Mr. Dan Wilson, Chairman of the Board of Directors of SugarBud, stated: "The management team of SugarBud, led by Craig Kolochuk, have been instrumental in positioning the Company to receive its Licenses from Health Canada. SugarBud will continue to benefit from Craig's experience in building high-growth, publicly traded companies.”
About SugarBud
SugarBud is a federally licensed Alberta-based publicly traded cannabis company focused on the cultivation and production of high-quality premium cannabis, and product leadership through the development, production and distribution of value-added cannabis products in Canada.
John Kondrosky
Chief Executive Officer
SugarBud Craft Growers Corp.
Phone: (604) 499-7847
E-mail: johnk@sugarbud.ca Dan Wilson
Interim Chief Financial Officer
SugarBud Craft Growers Corp.
Phone: (403) 874-9862
E-mail: danw@su
SUGR V.SUGR | 25 minutes ago Canada NewsWire VANCOUVER, Aug. 30, 2019 VANCOUVER, Aug. 30, 2019 /CNW/ - The following issues have been halted by IIROC: Company: Sugarbud Craft Growers Corp. TSX-Venture Symbol: SUGR (All Issues) Reason: At the Request of the Company Pending News Halt Time (ET): 12:57 PM IIROC can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada. SOURCE Investment Industry Regulatory Organization of Canada (IIROC) - Halts/Resumptions image: https://rt.newswire.ca/rt.gif?
Read more at https://stockhouse.com/companies/bullboard#WQphrqqMwcwVgFuk.99
August 02, 2019 22:25 ET | Source: SugarBud Craft Growers Corp.
CALGARY, Alberta, Aug. 02, 2019 (GLOBE NEWSWIRE) -- SugarBud Craft Growers Corp. (TSXV:SUGR, SUGR.WT) ("SugarBud" or the "Company") is pleased to provide a comprehensive update on the progress of the Stavely, AB facility construction, licensing status and corporate developments, including management changes.
Construction and Licensing Update
Stavely, AB Facility
Construction of Phase 1a of our 30,000-square-foot Stavely indoor facility is now substantially complete and fully occupied. Phase 1a includes 2 dedicated flower rooms with a combined annual cultivation design capacity of between 3,300 – 3,890 kg per year. Regulatory approval for Phase 1a is expected to occur in Q3 2019. Our operating team in Stavely is currently engaged in the final site preparations necessary to support our initial scale up cultivation activities following receipt of our license.
“We are pleased with the progress that our operational and regulatory teams are making in preparation for our initial scale up activities. The teams continue to execute against our plan very well and we remain confident that we are on track to receive our initial cultivation license in Q3 of this year,” said John Kondrosky, Chief Executive Officer of SugarBud.
SugarBud is also in the process of finalizing plans to complete the final fit out and licensing of the remaining 6 flower rooms at the Stavely Facility. Phase 1b and 1c encompass 3 additional flower rooms each, which will further expand the facility's cultivation design capacity by an additional 9,930 – 11,674 kg. At full operational levels the total facility cultivation design capacity for Phase 1 is expected to be between 13,230 – 15,565 kg per year.
Primary construction of these additional 6 rooms is complete and the remaining fit out will encompass the final installation of our vertical racking, irrigation, HVAC, environmental control and lighting systems. SugarBud plans to submit the license amendments for Phase 1b and 1c in early Q1 of 2020.
Corporate Update
Jeff Swainson, SugarBud's Chief Financial Officer, has made a personal decision to step down from his position effective as of today. SugarBud's Chairman, Dan Wilson, will assume the role of interim CFO. John Kondrosky, stated, "We are incredibly grateful for the leadership and many contributions Jeff has made to the success of SugarBud up to this point and we wish Jeff nothing but the best in his future endeavors.”
Mr. Joseph Dietrich has resigned as a director of SugarBud as of today but will continue to contribute to the organization as a Special Advisor. Chairman, Dan Wilson, stated “We would like to take this opportunity to thank Joseph for all of his hard work and contributions to SugarBud as a member of the Board of Directors, and look forward to working with Joseph in his new capacity to advance the SugarBud vision and mission.”
SugarBud is pleased to announce that Bob Lawrence has joined SugarBud as Vice President of Operations.
Mr. Lawrence joins SugarBud with more than 20 years of experience in the premium and craft segments of the highly regulated and competitive brewing industry. Prior to joining SugarBud, Mr. Lawrence was the Senior Vice President of Operations for the PEI Brewing Company. "As we continue to build and expand our team, we look for passionate and driven individuals that embody the SugarBud values and commitment to high-quality products and services," said John Kondrosky, Chief Executive Officer of SugarBud. "Operating efficiencies and discipline are critical to the success of SugarBud, and Bob’s demonstrated leadership and experience will most certainly have an immediate and positive impact on our operating results moving forward.”
TORONTO and RIONEGRO, Colombia, Aug. 1, 2019 /CNW/ - PharmaCielo Ltd. ("PharmaCielo" or the "Company") (TSXV:PCLO, OTC:PHCEF), the Canadian parent of Colombia's premier cultivator and producer of medicinal-grade cannabis oil, PharmaCielo Colombia Holdings S.A.S., is ramping up its oil processing capabilities in the Company's Rionegro, Colombia facility following the recent acquisition and installation of additional high-performance, high-volume extractors, combined with proprietary extraction techniques.
After receiving approval for commercial export of non-psychoactive (CBD) isolate PharmaCielo has expanded its extraction processing capacity to 265 tonnes of dried flower to meet anticipated global demand for its high-grade medicinal cannabis oils, feeding international supply channels and product production lines following the recent achievement of Colombian government approval for commercial export of non-psychoactive (CBD) isolate combined with announcement of the Company's intent to acquire Creso Pharma Limited (ASX:CPH) ("Creso Pharma").
"As global demand for medicinal cannabis oils and extracts continues to outpace supply, we are taking the right steps with prudent investment in processing infrastructure to ensure that we capitalize on business opportunities to become the leading supplier globally," said David Attard, CEO at PharmaCielo. "With the recently announced agreement to acquire Creso Pharma, we have the opportunity to expand our global footprint and add an extensive portfolio of animal and human CBD products, which when combined with commercial export approval and inbound order demand puts us at the stage where we need to ramp up production."
Along with the expansion of its extraction capabilities, PharmaCielo also announced it has surpassed the 18-tonne mark of dried flower currently under inventory and immediately ready for processing. The Company also continues to expand the land area under active cultivation, currently at 12.1 hectares (capable in annual cultivation in excess of 0.48 million kg) from 5.3 hectares at the beginning of the year, with additional cultivation expansion expected to continue throughout the balance of the year.
"Since receiving Colombia's first-issued manufacturing and cultivation licenses, we have utilized the opportunity to conduct trials with the full range of processing equipment and to determine which methodology best meets individual strain and finished-product requirements, as well as to develop proprietary methodologies," added Attard. "Deep experience with all the processing technologies leaves us well positioned to immediately capitalize on installation of the new equipment and not lose valuable production time learning relative ins-and-outs."
The additional processing equipment now in place complements technologies previously manufactured and installed by Canadian firm Vitalis, the global leader in industrial-scale supercritical CO2 extraction, and will immediately increase annual dried flower processing capacity in support of previously announced strategies for the expansion of hectares under cultivation, with a corresponding increase in finished oil production. Laboratory analysis conducted has demonstrated purity of CBD isolate extraction certified as greater than 99+%, and readily accommodating multiple international requirements for commercial import.
Looks like the bottom has been found.....looking to re-enter for a swing.
SugarBud Craft Growers Corp. (CSE:SUGR) director Joseph Dietrich purchased a total of 300K warrants at an average price of $0.10 per warrant, on June 25 (100K warrants at $0.10 per warrant) and June 26 (200K warrants at $0.095 per warrant). Both transactions on the public market.
SugarBud Completes Corporate Rebrand and Launch of New Website and Announces Attendance at The Lift & Co. Cannabis Expo June 7-9, 2019
SugarBud Craft Growers Corp. (CNW Group/SugarBud Craft Growers Corp.)
NEWS PROVIDED BY
SugarBud Craft Growers Corp.
Jun 06, 2019, 07:00 ET
TSX-Venture Exchange: SUGR, SUGR.WT
CALGARY, June 6, 2019 /CNW/ - SugarBud Craft Growers Corp. ("SugarBud" or the "Company") is pleased to announce the launch of its new brand identity and website, www.sugarbud.ca. This comprehensive rebrand elevates SugarBud and provides an identity as an emerging cannabis company into the Canadian marketplace.
The new logo is clean and modern and aligns with SugarBud's relentless commitment to quality. From the connoisseur to the curious, SugarBud plans to change the cannabis narrative.
SugarBud Logo (CNW Group/SugarBud Craft Growers Corp.)
SugarBud Logo (CNW Group/SugarBud Craft Growers Corp.)
SugarBud's new website features user access to updated investor information, including news releases, stock information, an in-depth look at what SugarBud and its team has accomplished in the last 18 months, and most importantly, what SugarBud plans to accomplish in the future. The new website will ultimately allow for the distribution of medical cannabis upon the receipt of sales license from Health Canada.
"The new SugarBud cube logo pays homage to the original craft logo which has been invaluable to SugarBud's identity in the market. We are proud of where we have come from as an Alberta cannabis company and are even more excited about where we are headed as a Canadian craft grower. In the near-term we are looking forward to the imminent receipt of our cultivation license from Health Canada, and thereafter the production, processing and distribution of ultra-premium bud," stated SugarBud's President and Chief Executive Officer, Craig Kolochuk.
SugarBud would like to thank Flipp Advertising Inc. for all their assistance in elevating SugarBud's brand to new heights.
SugarBud will showcase its new brand at the Lift & Co. Cannabis Expo June 7-9th, in Toronto, at booth 2209. Please come by our new booth for a visit!
About SugarBud
SugarBud is an Alberta-based publicly traded cannabis company engaged in the development, acquisition, production and distribution of cannabis in Canada.
SugarBud Announces Non-Dilutive Credit Facility and the Cancellation of Previously Announced Alumina Partners LLC Equity Facility
V.SUGR | 1 hour ago
TSX-Venture Exchange: SUGR, SUGR.WT
CALGARY, Alberta, June 05, 2019 (GLOBE NEWSWIRE) -- SugarBud Craft Growers Corp. (“SugarBud” or the “Company”) announces that its subsidiary, 1800905 Alberta Ltd., as borrower, has entered into a secured non-dilutive credit facility with Pillar Capital Corp. (“Pillar”) for up to CDN $5,000,000 (the "Credit Facility").
The proceeds of the Credit Facility will be used by SugarBud to support working capital requirements and to continue to equip Phase 1 of its 29,800 square foot Stavely, Alberta indoor cannabis cultivation facility (“Phase 1 Stavely Facility”). The Phase 1 Stavely Facility is expected to be capable of approximately 13,926,000 to 16,384,000 grams of annual dried cannabis production per year once fully equipped and operational.
Craig Kolochuk, SugarBud’s President and Chief Executive Officer stated: “This non-dilutive credit facility allows us to continue the diligent execution of our business plan prior to the receipt of our cultivation license from Health Canada, which we view as a major milestone and catalyst. We expect to obtain our cultivation license imminently, as we received confirmation of readiness from Health Canada on April 18, 2019 and we submitted our affirmation of readiness package prior thereto.”
It is SugarBud’s intention to replace this Credit Facility with a larger credit facility from another senior financial institution (the “Senior Facility”) upon receipt of SugarBud’s cultivation license from Health Canada. SugarBud is currently in negotiations with a leading credit union based in Alberta (the “Credit Union”) regarding the Senior Facility. It is expected that the Senior Facility will either be held by the Credit Union alone, or in a syndicate led by the Credit Union.
The Credit Facility is guaranteed by SugarBud and its wholly owned subsidiary Trichome Holdings Corp. The first $2 million of the Credit Facility is available for drawdown at SugarBud’s discretion, with draws thereafter subject to approval by Pillar. The Credit Facility bears interest at 12.5% per annum, calculated monthly on the daily balance outstanding. In connection with the Credit Facility, SugarBud will issue 1,000,000 common share purchase warrants to Pillar. Each warrant will entitle Pillar to purchase one common share of SugarBud at a price of $0.16 for a period of five years. The warrants will be subject to a four month hold period.
The Credit Facility and the issuance of warrants to Pillar are subject to final approval of the TSX Venture Exchange.
The Company also announces that it has cancelled, at its discretion, the previously announced equity facility with Alumina Partners LLC. SugarBud would like to thank Alumina Partners LLC for their support through the Company’s growth to date.
About SugarBud
SugarBud is an Alberta-based emerging cannabis company engaged in the development, acquisition, production and distribution of cannabis in Canada.
Craig Kolochuk
President & Chief Executive Officer
SugarBud Craft Growers Corp.
Phone: (403) 875-5665
E-mail: craigk@sugarbud.ca
Jeff Swainson
Chief Financial Officer
SugarBud Craft Growers Corp.
Phone: (403) 796-3640
E-mail: jeffs@sugarbud.ca
Investor Relations Contact
Gary Perkins, President
Tekkfund Capital Corp.
Tel: (416) 882-0020
E-mail: garyperkins@rogers.com
Website: http://www.sugarbud.ca/
Address: Suite 620, 634 - 6th Avenue S.W., Calgary, Alberta T2P 0S4
Telephone: 403-532-4466
Fax: 587-955-9668
Read more at https://stockhouse.com/companies/bullboard?symbol=v.sugr&postid=29799423#z6diHJtaY4oF3vc1.99
SANTA ROSA, CA and CALGARY, June 3, 2019 /CNW/ – Gabriella’s Kitchen Inc. (“GABY” or the “Company“) (CSE: GABY) (OTCQB: GABLF), a market-leader in the North American cannabis wellness space, is pleased to announce that its common shares have been approved for listing on the OTCQB Venture Market (“OTCQB“), a U.S. trading platform that is operated by the OTC Markets Group in New York. Effective June 3, 2019, the Company will commence trading on the OTCQB under the symbol “GABLF”. The Company’s common shares will continue to trade on the Canadian Securities Exchange (“CSE“) under the symbol “GABY”.
In respect of the OTCQB listing, Margot Micallef, CEO of GABY commented, “We are thrilled to announce the listing of GABY’s common shares on the OTCQB exchange, which we believe further establishes GABY as an innovative and leading-edge North American cannabis wellness company with broad appeal. GABY anticipates this additional listing on the OTCQB will provide increased opportunity for shareholder liquidity, as well as enhanced market access for American institutional and retail investors seeking to become a part of the GABY story.”
About Gabriella’s Kitchen Inc.
GABY is a U.S.-focused, consumer packaged goods company operating a “house of brands” in the cannabis industry and in the mainstream grocery channel. Through its wholly-owned subsidiaries The Oil Plant, Inc. (“TOP“) and Sonoma Pacific Distribution, Inc. (“Sonoma Pac“), GABY holds a manufacturing and a distribution license issued by the California Department of Health and the California Bureau of Cannabis Control respectively. With these licenses to operate in the cannabis channel, and its existing infrastructure of major retailers and an extensive broker and distribution network in the mainstream channel, GABY is positioned to bring its proprietary, acquired and third-party brands to market in both the licensed and mainstream market.
Margot and her sister Gabriella co-founded GABY after Gabriella received a dire cancer diagnosis which spurred the sisters to prolong Gabriella’s life through a holistic approach to health. Today, GABY is a wellness company with a diverse range of products that use cannabis and hemp derived CBD to address a variety of dietary and health concerns. Although Gabriella ultimately passed away from her illness, she lived exponentially longer than doctors predicted. Her memory and passion live on through GABY’s mission: to empower people to live healthy lives without compromise.
To learn more, please visit the Company’s website at www.gabyinc.com.
May 29, 2019 07:00 ET | Source: SugarBud Craft Growers Corp.
TSX-Venture Exchange: SUGR, SUGR.WT
CALGARY, Alberta, May 29, 2019 (GLOBE NEWSWIRE) -- SugarBud Craft Growers Corp. (“SugarBud” or the “Company”) is pleased to announce the appointment of Mr. John Kondrosky as Chief Executive Officer and a director of the Company, effective June 14, 2019.
Mr. Kondrosky is an accomplished senior executive with over 25 years of experience leading complex global cannabis and medical life sciences organizations in the United States and Canada. Mr. Kondrosky most recently served as Chief Operating Officer of Zenabis Global Ltd. (“Zenabis”), one of Canada’s largest licensed producers of medical and adult use cannabis, from April 2018 until May 2019. During his tenure with Zenabis, Mr. Kondrosky was responsible for the rapid scale up and ongoing operational readiness of the indoor facilities to support a successful market entry into the legal adult recreational market in Canada. Zenabis currently operates three indoor cannabis cultivation facilities encompassing over 660,000 square feet and a combined cultivation design capacity of over 53,000 kgs per year.
Mr. Kondrosky also maintains CTLS security clearance as mandated by Health Canada as part of the Cannabis Act. Prior to his time at Zenabis, Mr. Kondrosky served as Vice President and General Manager of Pharmascience Inc., one of Canada’s largest generic drug manufacturers. Mr. Kondrosky has also held senior executive roles with DENTSPLY Sirona and C.R. Bard/Becton Dickinson. Mr. Kondrosky brings to SugarBud very relevant organizational leadership and operating experience within highly regulated market environments as well as proven success in general management, commercial strategy, global market development, R&D and new product development.
Following Mr. Kondrosky’s appointment on June 14, 2019, Mr. Craig Kolochuk, SugarBud’s current President and Chief Executive Officer, will continue as President, devoting his time to business development, mergers and acquisitions, production supply and SugarBud’s global presence.
Mr. Dan Wilson, SugarBud’s Chairman of the Board, stated: “The management team of SugarBud, led by Craig Kolochuk, has done an incredible job in the one-year period following the recapitalization of the Company, as evidenced by the recent submission of its Affirmation of Readiness and Video Evidence Package to Health Canada. John’s depth of experience will complement the existing team’s strengths and provide additional guidance on the path to becoming a leading provider of medicinal and recreational cannabis in Canada.”
Mr. Kondrosky stated: “I am excited and honored to be joining SugarBud as CEO and look forward to working closely with Craig and the entire team to accelerate our operational model and expand shareholder value. Under Craig’s leadership the Company has occupied its 29,800 square foot cannabis cultivation facility in Stavely, Alberta, preparing SugarBud for market entry and positioning SugarBud as a future leader in the cannabis space.”
The Company also announces that, pursuant to the terms and conditions of its stock option plan, it has granted 3,100,000 stock options to purchase common shares of the Company to Mr. Kondrosky. The options expire five years from the date of grant and are exercisable at a price of $0.16 per common share. The options vest as to one third on the grant date and one third on each of the first and second anniversaries of the grant date.
About SugarBud
SugarBud is an Alberta-based emerging cannabis company engaged in the development, acquisition, production and distribution of cannabis in Canada.
Craig Kolochuk
President & Chief Executive Officer
SugarBud Craft Growers Corp.
Phone: (403) 875-5665
E-mail: craigk@sugarbud.ca Dan Wilson
Chairman
SugarBud Craft Growers Corp.
Phone: (403) 874-9862
E-mail: danw@sugarbud.ca
Investor Relations Contact
Gary Perkins, President
Tekkfund Capital Corp.
Tel: (416) 882-0020
E-mail: garyperkins@rogers.com
Website: http://www.sugarbud.ca/
Address: Suite 620, 634 - 6th Avenue S.W., Calgary, Alberta T2P 0S4
Telephone: 403-532-4466
Fax: 587-955-9668
Yeah but your a big wheel NW!
Yeah I read the news release and there was nothing to like or get excited about anyways. Seen the loss $0.08. Nothing to see here till the end of the year...maybe.
PharmaCielo Announces its Financial Results for the First Quarter 2019
PharmaCielo Ltd. (CNW Group/PharmaCielo Ltd.)
NEWS PROVIDED BY
PharmaCielo Ltd.
May 27, 2019, 07:00 ET
Well capitalized with a cash and cash equivalents balance of $40.8 million as of March 31, 2019
Working towards first commercial sales in the 2nd half of 2019
Area under cultivation has grown to ~12 hectares from ~10 hectares at the end of 2018, a 20% increase in area under cultivation
Construction of Colombian processing facility progressing toward production in late Q2/early Q3
Currently in active negotiations in multiple markets in South America and the EU
All figures are in CDN dollars unless otherwise specified
TORONTO and RIONEGRO, Colombia, May 27, 2019 /CNW/ - PharmaCielo Ltd. ("PharmaCielo" or the "Company") (TSXV:PCLO), the Canadian parent of Colombia's premier cultivator and producer of medicinal-grade cannabis oil, PharmaCielo Colombia Holdings S.A.S., today announced its financial results for the first quarter ended March 31, 2019.
"PharmaCielo has made significant progress over the past six months toward its objective of generating commercial sales during the second half of 2019," said David Attard, Chief Executive Officer, PharmaCielo Ltd. "The team has achieved the milestones it has targeted – significantly increasing cultivation, expanding oil production capacity, establishing the national cultivar's largest licensed strain portfolio, growing the distribution network, entering JV's in two markets, bolstering R&D with appointment of a top-tier scientific and medical advisory board and receiving the coveted ISO9001 quality assurance certification."
"2019 will continue to be an exciting year for the Company as we focus on completing and producing out of our new oil production facility, generating initial sales and growing sales channels. We are well-capitalized to achieve our objectives and expect to see sales significantly expand into 2020, driven by value-add product development and activation of our international and Colombian sales channels," added Attard.
Financial Highlights – Q1 – 2019
Operating Results
All comparisons below are to the quarter ended March 31, 2018, unless otherwise noted
Total operating expenses of $4.8 million as compared to $9.6 million
Net loss of $7.7 million as compared to $10.0 million
Balance Sheet
All comparisons below are to December 31, 2018, unless otherwise noted
Cash and cash equivalents of $40.8 million as compared to $45.7 million
Total assets of $64.6 million as compared to $66.3 million
Total liabilities of $3.6 million as compared to $3.0 million
Discussion of Operations
The Company's net loss totaled $7.7 million for the three-months ended March 31, 2019 (compared to $10.0 million for the three-months ended March 31, 2018), with a basic loss per common share of $0.08 for the three-months ended March 31, 2019 versus a basic loss per common share of $0.13 for the three-months ended March 31, 2018.
This net loss was primarily due to reverse takeover listing expense of $2.4 million for the three-months ended March 31, 2019 (compared to $Nil in the three-months ended March 31, 2018), common share-based expense of $1.4 million for the three-months ended March 31, 2019 (compared to $7.6 million in the three-months ended March 31, 2018), Salaries and wages $850,403 for the three-months ended March 31, 2019 (compared to $172,063 in the three-months ended March 31, 2018), and Agricultural pre-operational costs of $906,225 for the three-months ended March 31, 2019 (compared to $331,766 in the three-months ended March 31, 2018).
Other expenses were principally due to operating expenses to continue the construction of the Research Technology and Processing Centre.
About PharmaCielo
PharmaCielo Ltd. (TSXV:PCLO) is a global company, headquartered in Canada, with a focus on ethical and sustainable processing and supplying of all natural, medicinal-grade cannabis oil extracts and related products to large channel distributors. PharmaCielo's principal (and wholly owned) subsidiary is PharmaCielo Colombia Holdings S.A.S., headquartered at its nursery and propagation centre located in Rionegro, Colombia.
The boards of directors and executive teams of both PharmaCielo and PharmaCielo Colombia Holdings are comprised of a diversely talented group of international business executives and specialists with relevant and varied expertise. PharmaCielo recognized the significant role that Colombia's ideal location will play in building a sustainable business in the medical cannabis industry, and the Company, together with its directors and executives, is executing on a business plan focused on supplying the international marketplace.
TSX-Venture Exchange: SUGR, SUGR.WT
CALGARY, Alberta, May 01, 2019 (GLOBE NEWSWIRE) -- SugarBud Craft Growers Corp. (“SugarBud”) is pleased to announce the filing of its year ended December 31, 2018 audited consolidated annual financial statements (“Financial Statements”) and related management’s discussion and analysis (“MD&A”). SugarBud’s Financial Statements for the year ended December 31, 2018 and related MD&A are available on SEDAR at www.sedar.com and on SugarBud’s website at www.sugarbud.ca.
Looks like about a 3 month wait after evidence package submission for the cultivation license. That was submitted March 6th sooo could be a bit of a wait but who knows with gov’t.
Nice add DJ. Yeah I’m expecting the same, should be a good double from here upon licence from HC. When that happens is a mystery but should be within the next 2 -3 weeks. I’ll have to check out Pasha. Glty.
$sugr$
Las Vegas, NV & Hong Kong, April 25, 2019 (GLOBE NEWSWIRE) -- 12 ReTech Corporation (OTC: RETC) announced today that it has evolved to the point where the Company and its subsidiaries now have access to more traditional financing than the convertible debt instruments that it has relied on previously.
With the acquisition of Red Wire Group, the Company now has access to a $50,000 traditional secured revolving bank-line of credit (RLOC) with Red Wire Group’s local Utah based bank. This credit line functions as an overdraft tied to Red Wire’s checking account and has an annual interest rate of Prime plus 2.5%
Rune NYC, LLC has just executed a $1.5 million dollars revolving factoring credit line with Florida based Capital Funding Solutions (“CFS”). Factoring is a standard form of financing in the Fashion Industry and the amount offered is indicative of the faith that CFS has in the growth of Rune NYC, 12 ReTech’s newest subsidiary.
12 ReTech itself has executed a PIPE (Private Investment in a Public Entity) funding agreement with an institutional and accredited investor whereby the investor will provide funding to the Company with up to $500,000 by purchasing preferred shares that are convertible at a later date into common shares in a no discount to the market formula (see Form 8-K dated March 20, 2019). The Company has already drawn down $115,000 under this arrangement.
Angelo Ponzetta the Company’s CEO commented, “We are very pleased with the progress our Company is making on many fronts. With our recent acquisitions we are now generating significant revenues and the traditional finance industry is beginning to recognize our improved footing.”
Emily Santamore, manager of Rune NYC stated, “Working with the team at 12 ReTech has been awesome. The factoring credit line with CFS really allows us to “put the pedal to the metal” as far as growth is concerned. Combined with the cost savings that we receive through Red Wire Group’s manufacturing operations, we are able to do business with many additional retail customers as we are now able to deliver against their purchase orders in a timely fashion.”
Greg Porter, a principal of CFS said, “We really took the time to underwrite Rune NYC to understand where we could help Rune achieve its goals. We found the management team at both Rune and 12 ReTech to be very transparent and easy to work with. We are looking forward to a long-term relationship with both teams.”
Mr. Ponzetta concluded, “These new funding arrangements will allow our subsidiaries to grow and will reduce management’s reliance on convertible note financing to fund our technology and public entity expenses in the foreseeable future. This should over time reduce the ongoing effect of the dilution we have experienced and going forward, we hope to begin building shareholder value. We are continuing to pursue the completion of our Form S-1 to register shares for our $12 million Equity Line of Credit which is our long-term financing solution.”
IronClad Encryption Partners with Data443 Risk Mitigation to Explore Mutual Business Opportunities
Partnership to Leverage Complementary Technology Capabilities
April 24, 2019 06:30 ET | Source: Ironclad Encryption Corporation
HOUSTON, April 24, 2019 (GLOBE NEWSWIRE) -- IronClad Encryption Corporation (OTCQB: IRNC) a cyber defense company that secures digital assets and communications across a wide range of industries and technologies, and Data Privacy Software Provider Data443 Risk Management, Inc. (“Data443” – (OTCPK: LDSR)) announced today that they have entered into a partnership to leverage each other’s technology capabilities in their requisite product suites.
"Data443 is the leader in Data Classification, Governance, Archiving and eDiscovery – all major capabilities required in the onslaught of Data Privacy requirements that businesses face today,” said JD McGraw, Chief Executive Officer of Ironclad Encryption. “Our capabilities are highly complementary, and we are confident that our customer’s will readily adopt.”
Data443 provides numerous solutions in the Data Privacy space and has leading products for many capabilities. Its award winning ARALOC product suite enables Digital Rights Management capabilities on mobile and desktop – while utilizing leading edge encryption to protect it – in flight or at rest. Data443’s ArcMail suite provides large scale enterprise search and discovery capabilities. Its ClassiDocs product performs data sensitive-aware automated classification and tagging for reporting and privacy requests.
"IronClad’s patented technologies give us another leg up on the competition. Our clients are looking for capabilities that secure their data at military-grade or above levels – features unavailable with run-of-the-mill solutions from other providers,” said Jason Remillard, Chief Executive Officer of LandStar and founder of Data443™. "IronClad’s technology provides additional capabilities for us to improve any organization’s data security posture. Its products protect data and communications using proprietary techniques that are significantly harder to penetrate than any other cyber-security systems currently available. IronClad’s technology provides a unique synergy for our solutions.”
IronClad’s solutions have virtually no additional power or memory overhead requirements and operate purely with software. This alleviates any requirement for organizations to change hardware and infrastructure, an attractive advantage from an IT perspective. The vast majority of competing security systems require upgrades or modifications to hardware and/or infrastructure, a drain on productivity and financial resources.
About LandStar, Inc. – Data443
LandStar, Inc. (OTCPK: LDSR), through its wholly owned subsidiary DATA443™ Risk Mitigation, Inc., enables secure data – across local devices, network, cloud, and databases – at rest and in flight. Its suite of products and services is highlighted by: (i) ArcMail, which is a leading provider of simple, secure and cost-effective email and enterprise archiving and management solutions; (ii) ARALOC™, which is a market leading secure, cloud-based platform for the management, protection and distribution of digital content to the desktop and mobile devices, which protects an organization’s confidential content and intellectual property assets from leakage — malicious or accidental — without impacting collaboration between all stakeholders; (iii) ClassiDocs™, the Company’s award-winning data classification and governance technology, which supports CCPA, LGPD and GDPR compliance; (iv) ClassiDocs™ for Blockchain, which provides an active implementation for the Ripple XRP that protects blockchain transactions from inadvertent disclosure and data leaks; (v) the WordPress GDPR Framework with over 20,000 active users enables organizations of all sizes to comply with the GDPR and other privacy frameworks; (vi) The Virtual Data Protection Officer program that offers a turnkey and outsourced DPO capability for smaller organizations; and, (vii) Data443™ Privacy Manager which enables the full lifecycle of Data Privacy Access Requests, Remediation, Monitoring and Reporting.
For Further Information:
Follow us on Twitter: https://twitter.com/data443Risk
Follow us on Facebook: https://www.facebook.com/data443/
Follow us on LinkedIn: https://www.linkedin.com/company/data443-risk-mitigation-inc/
Signup for our Investor Newsletter: https://www.data443.com/investor-relations/
https://finance.yahoo.com/news/sugarbud-receives-confirmation-readiness-letter-110000609.html
SugarBud Receives Confirmation of Readiness Letter From Health Canada in Respect of Cannabis Cultivation Facility
GlobeNewswireApril 23, 2019, 5:00 AM MDT
TSX-Venture Exchange: SUGR, SUGR.WT
CALGARY, Alberta, April 23, 2019 (GLOBE NEWSWIRE) -- SugarBud Craft Growers Corp. (“SugarBud” or the “Company”) is pleased to announce that it has received a Confirmation of Readiness Letter (“COR Letter”) from Health Canada in respect of its cannabis cultivation facility in Stavely, Alberta (the “Facility”). The COR Letter requests SugarBud’s affirmative response that it has met Health Canada’s license application requirements. The “Confirmation of Readiness” stage is the final stage in the application process.
On March 6, 2019, SugarBud announced the submission of its Affirmation of Readiness and Video Evidence Package (“Evidence Package”) to Health Canada. The Evidence Package was meant to demonstrate to Health Canada that the Facility is fully functional and compliant under the Cannabis Act and Regulations. Upon SugarBud’s demonstration to Health Canada that its Facility is fully functional and compliant under the Cannabis Act and Regulations, the Company will be granted its cultivation license, at which point it will be permitted to cultivate cannabis.
Craig Kolochuk, President and Chief Executive Officer of SugarBud, stated: “Receiving our COR Letter is a major milestone for SugarBud in becoming a licensed producer of cannabis. We are currently in dialogue with Health Canada and promptly addressing any final questions and comments. We’ve submitted our Evidence Package and we are confident that our Facility is world class and compliant with the Cannabis Act and Regulations.”
Phase 1 of the Facility is comprised of 29,800 total square feet of floorplate. SugarBud estimates that under a full development scenario with four layers of flowering canopy, Phase 1 of the Facility will have up to 37,000 square feet of flowering canopy. At a metric of approximately 50 grams per square foot of flowering canopy per crop, and five crops per year, this equates to up to an estimated 9,250,000 grams of dried cannabis flower production per year.
Ok I will check him out occasionally when he’s covering a ticker I’m interested in but I skip through the video until I see my ticker covered. I like to see different perspectives on particular stocks good and bad. Otherwise the video is toooo long my attention span isn’t. He’s always stated that’s his biggest holding and he went all in when it dropped to $1.00 then it dropped a bit. Seen it on twitter. You have a handle on Twitter?
I agree I’m 80% cash right now waiting for summer bargains.
12 ReTech Corporation Annual Letter to Shareholders For the Year Ended December 31, 2018
April 18, 2019 09:00 ET | Source: 12 Retech Corporation
Las Vegas, NV & Hong Kong, April 18, 2019 (GLOBE NEWSWIRE) --
Dear Fellow Shareholder(s):
First, I would like to take this time to thank many of our stakeholders including our employees, vendors, and most importantly our shareholders for their strong support throughout the last two years. Through a disappointing slump in our stock our stakeholders continued to work hard to turn our ambitions into reality. That hard work is now, in the first quarter of 2019 beginning to bear fruit!
Revenue Status and Plans:
With the recent two acquisitions (Red Wire Group in February 2019 and Rune NYC in March 2019) we have finally obtained some significant ongoing cash flow. During the month of March, we were able to successfully integrate our Red Wire factory and our existing Emotion Fashion factory into a seamless operation under the experienced Red Wire management team. They have ruthlessly reduced costs and streamlined operations. Meanwhile, Rune NYC has already streamlined operations, reduced back office staff and facilities expenses and integrated the majority of their production into the Red Wire factory. The results are that in one single month and for the first time ever, our USA subsidiaries no longer need extra cash from their parent, 12Retech Corporation to sustain their operations!
By applying our marketing and operational expertise, our USA subsidiaries are already expanding their customer bases and increasing their sales order flow. The results are increased production and deliveries which have already been evidenced month to date. These trends have just begun.
The intangible benefits that these two acquisitions brought to us are even more valuable. First, the quality of our new team members is top notch. They are eager to move their business operations forward and the incentives that they have are highly motivating. In addition, their relationships have been especially helpful in lining up potential customers for our retail technology platform (12 Technology Suite) and equally helpful for cross recruiting of new business opportunities for each other. In addition, they have brought forward new acquisition opportunities with which we are already having discussions on.
Our operations in the rest of the world have not been idle. Recently 12 Europe has been particularly aggressive in deploying our 12Sconti APP. In 2018, we had launched 12Sconti in Winterthur, Switzerland to mixed reviews and lackluster response. We replaced management at considerable expense, but that change allowed us to build on what we had learned with a much stronger partner: Jelmoli. This brought our mobile APP to “prime time” with a major player who is encouraging their own customers to download 12Sconti and use it to start purchasing products. Because Jelmoli is such a well-known retailer, additional merchants in Zurich are now climbing aboard the 12Sconti wagon. We have already signed 8 additional retailers whom will be featured in the 12Sconti APP over the next few weeks. We expect to continue to sign up many more merchants throughout the rest of 2019 and beyond.
We are examining the potential to launch a digital advertising network in Europe under the name Visore. It would be a visual and audio story telling platform that up to 12 European luxury brands at a time can participate with to enhance their own brand awareness and generate sales. The initial responses from targeted advertisers have been positive. For more information visit www.12europe.com.
In Asia, we continued to modestly expand in 2018 as ITOYA placed elements of our 12 Technology Suite into a second store. We expect ITOYA to continue to install our hardware and software in additional ITOYA stores in the second half of 2019. That ITOYA has added our technology solutions to their other stores validates the effectiveness of our technology solutions for retailers.
Our Technology:
We have nearly completed the next release of our 12 Technology Suite which will now allow shoppers to choose the language they would like to interact in; English, French, German and Japanese, with Spanish in development. Once released, we will actively demonstrate our technology to the long list of retailers we have been talking with over the last 18 months.
The 12 Technology Suite is a comprehensive platform that functions with a variety of components that a retailer can choose from to customize their customer’s in-store and online shopping experiences. The platform and its components are designed to achieve heightened consumer engagement and collect useful consumer behavioral data both in-store and online through its various tools and APPs.
The 12 Technology Suite platform is managed through a dashboard that allows the retailer to update information for customer presentations on all of their varied customer facing devices that the retailer has chosen to deploy. In addition, these devices are used to obtain shopper data for retargeting. 12 ReTech Corporation can provide our software on hardware supplied by us or on hardware supplied by our retailer clients. When selling our products with hardware included, we mark up the hardware and charge a licensing fee with a minimum component and a percentage of the receipts of products sold by retailers through the use of our technology platform.
Future Acquisitions:
Management has demonstrated the ability to make strategic acquisitions and our work in this direction continues. We intend to make additional acquisitions. We are negotiating with additional consumer brands and retail operations where we feel that we can demonstrate the effectiveness of our technology. We are also pursuing marketing firms who can help our own brands achieve organic growth. Look for us to make additional synergistic acquisitions throughout 2019 and beyond.
Our Stock Price:
All of us are disappointed by the declining trend of our stock. Like many of our investors, I personally saw my net worth, which is based primarily on my holdings of Company stock decline significantly. There are a couple of reasons for this decline and in my opinion they all relate to the fact that it has taken us this long to start to produce significant subsidiary revenues and positive cash flow. Our initial planned acquisitions did not take place and we had to discover and move forward with new targets, some of which have recently been acquired.
In addition, as a technology company we are forced to spend considerable sums of capital to enhance and improve our technology. Since we did not have significant operations in 2018, we were unable to finance our technology and our acquisitions in any other way than through the use of convertible debt. As that debt comes due, the debt holders generally convert their notes into common stock at a discount to market which is shortly sold into the markets. This has caused considerable dilution and downward pressure on our stock.
As indicated above, the Company has finally made some major strides towards growing revenue and earnings. Red Wire was acquired in February and Rune was acquired in March. They both generate revenues and are cash flow positive. Jelmoli just released Sconti in Europe and is aggressively pushing its deployment. As a new concept for the Swiss consumer markets, recruiting consumers and merchants has been very hard and it will take time to build significant revenues with 12Sconti. However, we are optimistic. The fact that we have joined forces with a determined major retailer in the region who has a sizeable loyal customer base is creating a cascade effect among other retailers who are now signing up for the 12Sconti platform.
From a global point of view, we are optimistic that each coming month will bring revenue growth and associated earnings that will allow the Company to overcome our just announced fiscal deficit! Looking forward, these developments will bring multiples of ten times last years’ revenue.
The Good News:
It stands to reason that as our operating companies produce results and don’t burn cash there would be less and less reliance on using convertible notes for raising capital. We are already seeing that trend taking place. In addition, because our operating companies have financial stability, we should shortly begin to qualify for more traditional forms of debt and equity financing, further reducing our reliance on convertible debt. When the convertible notes are paid off, the downward pressure on the stock should tend to dissipate and with financial good results we should receive a more favorable response from the equity markets.
Announcing progress with our 12 Technology Suite with retailers, particularly in the USA, should also get our Company and stock favorably noticed by the equity markets.
Keep in mind that all the positive things that are happening with our Company were not shown in our recently filed FY2018 Form10-K as we hadn’t acquired Red Wire and Rune during 2018. A portion of the revenue growth will show up when the Company reports its 1st fiscal quarter results in May. However, the first fiscal period that will reflect in its entirety, the results of these acquisitions will be ending on June 30 and is slated to be released by August 14, 2019.
By then, management hopes to have transacted additional acquisitions that would further add to revenues and build earnings, in addition to the expansion and organic growth that we are achieving with our currently owned operations.
In summary, I would like our stakeholders to understand that our management team is dedicated to the Company’s long-term vision and that we are making progress in a lot of areas.
However, we all need to keep in mind the following:
The decision to own RETC is a long-term stock investment not a day trading opportunity.
The only way to combat a declining stock price is to build a company that has sustained revenue and earnings growth and we are making great strides here; AND,
Over time, we believe that our stock price should appreciate as the market digests our improving results.
Sincerely,
/s/ Angelo Ponzetta
Angelo Ponzetta
Chief Executive Officer & Founder
PharmaCielo Announces its Financial Results for the Fourth Quarter and Fiscal Year 2018
PharmaCielo Ltd. (CNW Group/PharmaCielo Ltd.)
NEWS PROVIDED BY
PharmaCielo Ltd.
Apr 18, 2019, 07:50 ET
PharmaCielo expects to begin commercial sales in 2019.
Oil processing facility is on track for commercial operation and GMP certification during Q3-2019, enabling large-scale production and sale of refined cannabis oil.
Currently, 10 hectares are under active cultivation, expanding to 20 hectares (~2.15 million square feet) by year-end 2019, backed by 20 proprietary registered strains and 186 strains in the Company's germplasm bank.
PharmaCielo's common shares began trading on the TSX Venture Exchange ("TSXV" or "TSX Venture") under the ticker PCLO on January 18, 2019.
Well capitalized with a cash balance of US$33.5 million as of December 31, 2018.
All figures are in U.S. dollars unless otherwise specified
TORONTO and RIONEGRO, Colombia, April 18, 2019 /CNW/ - PharmaCielo Ltd. ("PharmaCielo" or the "Company") (TSXV: PCLO), the Canadian parent of Colombia's premier cultivator and producer of medicinal-grade cannabis oil, PharmaCielo Colombia Holdings S.A.S., announces its financial results for the fourth quarter and full year ended December 31, 2018.
PharmaCielo Ltd. CEO David Attard commented on the company's continuing progress. "2018 was a year of incredible growth, culminating in the public listing of our common shares in January 2019. We are expanding our cultivation and processing operations to begin commercial sales of refined cannabis oil in 2019, having already received more inbound requests for product than we are able to fulfill in the near term. We are ready to sell, with sales licensing and ISO 9001 certification in place and an initial 20 proprietary strains registered for commercial production. We anticipate the completion of our first major processing expansion in Q2 and our GMP certification in Q3."
"PharmaCielo has been structured with a singular strategic objective in mind – to be a dominant global supplier of both branded and white-labelled refined cannabis oil for large global distribution channels. We have the product consistency and quality, reliability of supply and structural cost advantage that will enable us to provide the customized extracts that the global market is looking for, making us very well positioned to become a dominant global cannabis oil supplier," said Dr. Delon Human, PharmaCielo's Global Head of Health and Innovation. "We have recently expanded our Medical and Scientific Advisory Board, adding a group of top global medical researchers and scientists, to enhance our product development strategy and quickly bring high-quality, customized products to market. Our team has decades of collective experience both selling into these channels and running the very global enterprises currently expressing increased interest and demand."
Developments Subsequent to the end of fiscal 2018
For a more comprehensive overview of these recent developments, please refer to the corresponding press releases on the Company's website (www.pharmacielo.com) and the Company's press releases and other regulatory filings on SEDAR (www.sedar.com).
On April 9, 2019, PharmaCielo appointed a Medical and Scientific Advisory Board composed of an international panel of renowned physicians, researchers, veterinarians, engineers and academics. This advisory board will guide PharmaCielo's research and development of special cannabinoids-based formulations and derived products with therapeutic properties.
On March 29, 2019, PharmaCielo announced that its Colombian subsidiary had received approval from the national cultivar registry for the listing of 10 proprietary cannabis strains. This brings the number of approved strains held by PharmaCielo to 20, following the Company's February 6, 2019 announcement of the approval of an initial 10 strains. PharmaCielo is the largest holder of approved strains in Colombia.
On March 19,2019, PharmaCielo received ISO 9001 Quality Assurance Certification for its medicinal cannabis cultivation and processing operations in Colombia.
On January 28, 2019, PharmaCielo announced that it had established an equity joint venture with Mino Labs S.A. de C.V, a specialty pharmaceutical company and medical supply distributor based in Mexico, to bring medicinal cannabis oil to Mexico.
On January 18, 2019, PharmaCielo began trading on the TSX Venture Exchange under the ticker PCLO.
On January 15, 2019, the Company completed an RTO with AAJ Capital 1 Corp. ("AAJ").
Discussion of Operations
The Company's net loss totaled $24.4 million for the twelve-month year ending December 31, 2018 (compared to $5.4 million for the five-month period ending December 31, 2017; and compared to $7.6 million for the twelve-month year ending July 31, 2017), with a basic loss per share of $0.31 for the twelve-month year ending December 31, 2018 versus a basic loss per share of $0.07 for the five-month period ending December 31, 2017, and a basic loss per share of $0.12 for the twelve-month year ending July 31, 2017.
This net loss was primarily due to a share-based payments of $14.4 million for the twelve-month year ended December 31, 2018 (compared to $111,256 in the five-month period ending December 31, 2017, and $2.3 million in the twelve-month year ending July 31, 2017). These share-based expenses were incurred primarily for options granted to employees and directors who had worked for and developed the Company over the years.
Other expenses were principally due to operating expenses to continue the construction of the Research Technology and Processing Centre, and to grow and harvest the plants. Additionally, operating expenses were incurred in Canada for legal, travel, and other fees incurred in order to facilitate the capital raise to complete the Plan of Arrangement. The one-time non-cash item for options was the largest expense.
PharmaCielo Grants Restricted Share Units
Effective April 17, 2019 the Company has granted Restricted Share Units ("RSUs") as follows (i) 20,000 RSUs to Doug Bache, a director of the Company; half of which vest six months from the grant date and half of which vest one year from the grant date; (ii) 75,000 RSUs to Carlos Manuel Uribe, a director of the Company; half of which vest six months from the grant date and half of which vest one year from the grant date; and (iii) 913,000 RSUs to employees and consultants of the Company; half of which vest one year from the grant date and half of which two years from the grant date. Each RSU entitles the holder thereof to receive one common share of the Company (each, a "Common Share").
The RSU's are governed by the RSU plan of the Company (the "RSU Plan"). The RSU Plan was approved by shareholders of the Company on September 20, 2019. The number of Common Shares that may be reserved for issuance pursuant to awards granted under the RSU Plan is 3,101,435 Common Shares, representing 3.3% of the 93,976,962 Common Shares that were issued and outstanding when the Company completed its qualifying transaction (the "Qualifying Transaction") pursuant to the policies of the TSXV and together with the number of Common Shares issuable under the stock option plan of the Company and the deferred share unit plan of the Company may be up to 18,795,392 Common Shares, being 20% of 93,976,962 issued and outstanding Common Shares when the Company completed its Qualifying Transaction. After this issuance there are 1,008,000 RSUs outstanding.
About PharmaCielo
PharmaCielo Ltd. (TSXV: PCLO) is a global company, headquartered in Canada, with a focus on ethical and sustainable processing and supplying of all natural, medicinal-grade cannabis oil extracts and related products to large channel distributors. PharmaCielo's principal (and wholly owned) subsidiary is PharmaCielo Colombia Holdings S.A.S., headquartered at its nursery and propagation centre located in Rionegro, Colombia.
The boards of directors and executive teams of both PharmaCielo and PharmaCielo Colombia Holdings are comprised of a diversely talented group of international business executives and specialists with relevant and varied expertise. PharmaCielo recognized the significant role that Colombia's ideal location will play in building a sustainable business in the medical cannabis industry, and the Company, together with its directors and executives, is executing on a business plan focused on supplying the international marketplace.
Yeah this one been a slow bleed with no end in sight.
I used to watch Tom, he loves his true north. You in that one?
Wowza, just took a look at this one...kinda forgot about it. Apparently this one is still over valued but the market isn’t helping any weed stocks today the index is red MARIJUANA INDEX
NORTH AMERICAN INDEX UNITED STATES INDEX CANADIAN INDEX
296.72 -8.50
The beast has risen... 17% today.
Not tomorrow, contact IR...they are still waiting for the audit to come back.
SUGARBUD ANNOUNCES CLOSING OF THE DISPOSITION OF ITS OIL AND GAS ASSETS AND BECOMES A PURE-PLAY CANADIAN CANNABIS COMPANY
Home / Cannabis / SugarBud Announces Closing of the Disposition of its Oil and Gas Assets and Becomes a Pure-Play Canadian Cannabis Company
SugarBud Announces Closing of the Disposition of its Oil and Gas Assets and Becomes a Pure-Play Canadian Cannabis Company
02 Apr KarlRYG Cannabis, Marijuana, Medical, News
CALGARY, April 2, 2019 – SugarBud Craft Growers Corp. (“SugarBud” or the “Company“) is pleased to announce that it has closed the sale of the Company’s oil and gas assets (the “Dispositions“) with several arm’s length purchasers (the “Purchasers“) pursuant to which the Purchasers have acquired all of the Company’s oil and gas assets for gross proceeds of approximately $1.75 million in cash.
The series of Dispositions eliminates approximately $4.1 million of asset retirement obligations associated with the assets and significantly strengthens the Company’s balance sheet. SugarBud has no debt or abandonment liabilities and does not anticipate requiring any additional financing prior to receipt of its Cultivation License from Health Canada.
About SugarBud
SugarBud is an Alberta-based emerging cannabis company engaged in the development, acquisition, production and distribution of cannabis in Canada.
On the hourly it had a big bounce off the $9.20 area previously...doesn’t mean it will again but watching along with so many others. That bbm is a beauty, nice call!!
I think that’s pretty accurate, I’ve got $9.20 as the bounce point.
$Petz making its move +20%
12 ReTech Announces the Launch of its New 12Europe Website in Support of Jelmoli’s Launch of the 12 Sconti APP.
GlobeNewswireMarch 28, 2019, 7:00 AM MDT
Las Vegas, NV, Hong Kong & Zurich, Switzerland, March 28, 2019 (GLOBE NEWSWIRE) -- 12 ReTech Corporation (RETC) announced today that it has launched its new revamped 12 Europe AG website to support the new Jelmoli implementation of the Company’s 12 Sconti APP which is due to launch in the next few days. Those who are interested can visit the website at www.12europe.com. The main website is in English for the international and investing community while the 12 Sconti tab goes directly to 12sconti.com which is written entirely in German to support Jelmoli’s 12 Sconti product offerings in Switzerland.
The 12 Europe website features two main products; 12 Sconti and 12 Visore.
Now that Switzerland’s Jelmoli, known as the “House of Brands”, has integrated the 12Sconti APP into its operations, they have begun promoting the benefits of this new marketing tool to their customers. Their customer database contains around one million shoppers loyal to the Jelmoli brand. Their customers are being encouraged to download the 12Sconti APP by a comprehensive local public relations campaign. The first activities will happen next week with a Jelmoli Press Release sent to more than 60 major Swiss publications
From Midas Letter, Sugarbud is alone in this space. Once license is approved, Sugarbud will be attractive take out candidate.
Craig Kolochuk.....
We’re cashed up. We have roughly $3 million in cash in the bank, no debt. We’re closing our oil and gas sale here April 1st, so that’s going to bring in another $1.5 million. So Phase 1 for us is fully funded.
This rat bastard gonna give me grey hair lol only 3% now?! Miller time!
Yeah for sure. I wanted to play the bounce but as you said takes brass balls...good indication I ain’t got em.
Let’s go Hong Kong! Hope you are correct sir.
Aaand there was the bounce...lol fml.