Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Stony Hill Corp. Enters Animal Health Industry with Launch of TherPet
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/02/13/STNY-Stony-Hill-Corp-Enters-Animal-Health-Industry-with-Launch-of-TherPet
BEVERLY HILLS, CA / ACCESSWIRE / February 13, 2018 / Stony Hill Corp. (OTC:STNY) (the "Company"), a diversified company focused on the legal cannabis industry, today announces the official launch of TherPet™, an advanced full-spectrum hemp-derived CBD-based product line for pets.
According to the American Pet Products Association, Americans spent an estimated $69.4 billion on their pets in 2017, which was up from $66.8 billion in 2016. Americans have steadily spent more on their pets since 1994, the year that the American Pet Products Association began tracking and publishing this data.
The Company believes that CBD for pets will become a growing part of the animal health industry as consumers spend more and more on the quality and longevity of their pets' lives.
"Hemp-derived CBD products are seeing a growing demand in the animal health industry around the world," noted JJ Southard, Vice President of Products at Stony Hill Corp. "Ongoing research at Colorado State University and the University of Pennsylvania School of Veterinary Medicine regarding CBD for osteoarthritis, epilepsy, and more shows the tremendous potential for CBD in the animal health space," Southard continued, "We're happy to be getting into the rapidly growing industry at the ground level."
Initially, all products will be sold through TherPet's online e-commerce platform - https://therpet.com/. In the future, the Company intends to seek out retail and international distribution agreements for TherPet's products.
TherPet's initial product line includes tinctures in a range of dosages and flavors. From chicken to peanut butter - dogs, cats, and furry friends of all kinds are sure to be satisfied. In the future, the Company intends to expand the TherPet product line to include chews, treats, accessories, and more. All TherPet products have been formulated with every pet's health in mind.
About Stony Hill Corp.
Stony Hill Corp. (www.stonyhillcorp.com), is a diversified company focused on multiple areas of the cannabis, hemp and CBD industry. The company is focused on select investment, branding, real estate, and partnership opportunities in the recreational, health and wellness, nutraceutical, and media industries.
Stony Hill has several strategic partnerships and investments currently in place and is actively pursuing additional partnerships and strategic growth opportunities.
Contact Information
Email: ir@stonyhillcorp.com or info@stonyhillcorp.com.
To be added to the Stony Hill email distribution list, please email info@stonyhillcorp.com with STNY in the subject line.
Official TherPet Store: https://therpet.com
Safe Harbor Statement
Except for historical information contained herein, statements in this release may be forward-looking and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as "anticipate," "believe," "estimate," "expect," "intend," and similar expressions, as they relate to Stony Hill Corp. (the "Company") or its management, identify forward-looking statements. These statements are based on current expectations, estimates and projections about the Company's business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties, and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and probably will, differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including those described above and those risks discussed from time to time in the Company's filings with the Securities and Exchange Commission. Factors which could cause actual results to differ materially from these forward-looking statements include such factors as (i) the development and protection of our brands and other intellectual property, (ii) the need to raise capital to meet business requirements, (iii) significant fluctuations in marketing expenses, (iv) the ability to achieve and expand significant levels of revenues, or recognize net income, from the sale of our products and services, (v) the Company's ability to conduct the business if there are changes in laws, regulations, or government policies related to cannabis, (vi) management's ability to attract and maintain qualified personnel necessary for the development and commercialization of its planned products, and (vii) other information that may be detailed from time to time in the Company's filings with the United States Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Disclaimer: The U.S. Food and Drug Administration has not evaluated or endorsed these statements and strictly prohibits us from making any claims related to diseases or medical conditions in conjunction with our products.
Organigram Receives Expanded Cultivation License
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/02/12/Organigram-Receives-Expanded-Cultivation-License
MONCTON, Feb. 12, 2018 /CNW/ - Organigram Holdings Inc. (TSXV:OGI) (OTC:OGRMF) (the "Company" or "Organigram"), a leading licensed producer of medical marijuana based in Moncton, New Brunswick, is pleased to announce that it has received an expanded cultivation license from Health Canada related to its previously announced Phase 2 expansion.
The scope of the amendment includes approval of the following:
The entire perimeter of the expanded facility, approximately 150,000 sq ft
The first ten of Organigram's new 23 three-level cultivation rooms
Improved functional design to facilitate production, including a custom designed potting room, and an automated feed and watering system.
As a result of this approval, cannabis plants were moved into these new rooms on a rolling basis beginning on February 10, 2018. The Company will be in a position to begin staggered harvests from these new rooms by the third week of April. The remaining 13 rooms are expected to come on line by March 10 pending Health Canada approval.
Expansion
With the company's unique three-level canopy growing system, the 23 planned cultivation rooms represent an additional 10,800 kg/year of production capacity increasing the Company's capacity from approximately 5,200 kg/year to an estimated 16,000 kg/year.
"This is an important moment for Organigram" says Greg Engel. "We've spent years perfecting three-level growing technology. We have developed a world-class cannabis production facility and are proud to be able to offer our medical and adult recreational customers exceptional award winning, high quality product in 2018 and beyond."
The Phase 3 expansion currently under construction and scheduled to be completed in May of 2018 will see the Company's production increase to 25,000 kg/annum. A fully-funded Phase 4 expansion currently scheduled to start construction in April will bring the Company's production to 65,000 kg/annum in three stages over the next two years.
Efficiency
The Phase 2 expansion also includes significant improvements and efficiencies to the Company's cultivation and processing systems. Enhancements including a fully automated irrigation system in the Phase 2 grow rooms, automated potting, fully automated waste destruction system and automated packaging lines mean immediate and ongoing cost savings as well as increased yields.
"As a company, we are steadfast in our commitment to applying technology to the efficient production of exceptional cannabis products," explains Engel. "Our pursuit of best-in-class processes reflects our commitment to industry leadership and unprecedented customer value."
About Organigram Holdings Inc.
Organigram Holdings Inc. is a TSX Venture Exchange listed company whose wholly owned subsidiary, Organigram Inc., is a licensed producer of medical marijuana in Canada. Organigram is focused on producing the highest quality, condition specific medical marijuana for patients in Canada. Organigram's facility is located in Moncton, New Brunswick and the Company is regulated by the Access to Cannabis for Medical Purposes Regulations ("ACMPR").
Organigram has been ranked in the top ten Clean Technology & Life Sciences Sector on the TSX Venture Exchange 50.
Forward-looking statements
This news release contains forward-looking information which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectations. Important factors - including the availability of funds, consummation of definitive documentation, the results of financing efforts, crop yields - that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold within the United States absent such registration or an applicable exemption from such registration requirements.
Abattis Awarded Grant for R&D of Cannabinoid-rich Hemp Oil
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/02/12/Abattis-Awarded-Grant-for-RD-of-Cannabinoid-rich-Hemp-Oil
VANCOUVER, British Columbia, Feb. 12, 2018 (GLOBE NEWSWIRE) -- Abattis Bioceuticals Corp. (the "Company" or "Abattis") (CSE:ATT) (OTC:ATTBF) is pleased to announce the sponsorship of a research study in partnership with Mitacs to explore the development of nanoemulsified and liposomal platforms for transmucosal delivery of cannabinoid-rich hemp oil. The research and development work will be led by scientists from Abattis and the Faculty of Land and Food Systems at the University of British Columbia (“UBC”).
Mitacs is a national, not-for-profit organization that has designed and delivered research and training programs in Canada for 18 years working with 60 universities, thousands of companies, and both federal and provincial governments.
In addition to the R&D work on cannabinoid-rich THC-free hemp extracts, scientist from Abattis and UBC’s Faculty of Land and Food Systems will work to create delivery platforms with increased stability and bioavailability.
“Abattis is very pleased to begin working with premiere scientists from UBC, and in the University’s first-class cell-culture research facility,” said Rob Abenante, President and CEO of Abattis.
Mr. Abenante added: “Our partnership will focus on developing nanoparticle-based delivery platforms since nanoparticulation allow more efficient and faster absorption of active compounds such as cannabinoids and terpenes, reducing the typical losses associated with gut absorption. This new development is part of our overall strategy to provide high-end extracts to our manufacturing partners and to support the development of unique finished products.”
"Our research will help develop stable encapsulated hemp-oil formulations for delivering the medicinal ingredients of cannabis orally, but without the harmful effects of smoking. Stable hemp extracts, with tailored profiles of cannabinoids and terpenes, could be used for targeted treatment of patients and help them lead a healthy lifestyle," said Dr. Anubhav Pratap Singh, Assistant Professor, Food Nutrition and Health Program, Faculty of Land and Food Systems, UBC.
The University of British Columbia’s Faculty of Land and Food Systems has world-class research laboratories with modern analytical instrumentation. UBC consistently ranks among the Top 40 universities in the world, and among the Top 20 public universities in the world.
"Securing this partnership provides additional support to our Research and Development strategy to prepare a new class of cannabis and hemp finished products with high bioavailability, stability and shelf-life. This technology will become a core driver for a future line of formulations to be used under white-label, and in-house finished products," said Dr. David Galvez, Senior Science Advisor of Abattis.
About Abattis Bioceuticals Corp.
Abattis is a life sciences and biotechnology company which aggregates, integrates, and invests in cannabis technologies and biotechnology services for the legal cannabis industry developing in Canada. The Company has successfully developed and licensed natural health products, medicines, extractions, and ingredients for the biological, nutraceutical, bioceutical, and cosmetic markets. The Company is also seeking to acquire exclusive intellectual property rights to agricultural technologies to be employed in extraction and processing of botanical ingredients and compounds. The Company follows strict standard operating protocols, and adheres to the applicable laws of Canada and foreign jurisdictions.
ON BEHALF OF THE BOARD,
ABATTIS BIOCEUTICALS CORP,
“Rob Abenante"
Robert Abenante, President & CEO
For more information, please visit the Company's website at: www.abattis.com or www.northernvinelabs.com
For inquiries, please contact the Company at (604) 336-0881 or at news@abattis.com.
FORWARD LOOKING INFORMATION
This press release contains forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", “intends”, "should", "believe" and similar expressions are intended to identify forward-looking statements. Forward-looking statements in this press release include statements regarding the research and development to be performed between the Company and UBC; the success of its formulation efforts on proprietary cannabinoid oils; the success of the marketing and sales of its proprietary formulations; the bioavailability and product efficacy of the results of the research conducted. 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, including that the partnership with UBC or the grant will result in useful product developments. Additional risk factors are included in the Company's Management's Discussion and Analysis, available under the Company's profile on www.sedar.com. The forward-looking statements are made as at the date hereof and the Company disclaims any intent or obligation to publicly update any forward-looking statements, where because of new information, future events or results, or otherwise, except as required by applicable securities laws.
CannTrust Holdings Inc. Receives Sales License from Health Canada
SOURCE: VAUGHAN, ON, Feb. 12, 2018 /CNW/ - CannTrust Holdings Inc. ("CannTrust" or the "Company"), (CSE:TRST) (OTC:CNTTF), one of Canada's leading licensed producers of cannabis, is pleased to announce that it has received its Health Canada Sales License for the 250,000 square foot Phase 1 of its 46 acre Niagara Region state of the art cannabis greenhouse production facility.
10 harvests have now been completed at the Niagara Facility, the 180,000 square foot Phase 2 expansion is currently underway and is anticipated to be completed and in cultivation towards the middle of 2018. In addition, due to its size, the Facility provides the Company with the ability for future expansion.
"The Phase 1 infrastructure renovations were completed both on budget and on time. This is a testimony to our amazing team, our data driven processes and our focus on disciplined execution," said Brad Rogers, CannTrust's President.
"The expansion of our Greenhouse Facility together with our Health Canada Sales Licence will allow CannTrust to meet growing market demand and provide maximum value to our customers, partners and shareholders. Our increased production together with our expanding product lines positions us to continue to build on our strong partnerships in both the Canadian retail recreational market and in the global emerging markets" said Eric Paul, CannTrust's Chief Executive Officer.
About CannTrust™
Since its inception in 2014, CannTrust has led the Canadian market in producing pharmaceutically standardized product.
As a federally regulated licensed producer, CannTrust™ brings more than 40 years of pharmacy and healthcare experience to the medical cannabis industry. CannTrust currently operates a 50,000 square foot state-of-the-art hydroponic facility in Vaughan, Ontario, as well as the recently completed 250,000 square foot Phase 1 redevelopment of its 430,000 square foot Niagara Greenhouse Facility. The Phase 2 expansion is underway and is anticipated to be completed and in cultivation towards the middle of 2018.
CannTrust™ is committed to research and innovation, as well as contributing to the growing body of evidence-based research regarding the use and efficacy of cannabis. Our product development teams along with our exclusive global pharma partner, Apotex Inc., are diligently innovating and developing products that will make it easier for patients to use medical cannabis. We support ongoing patient education about medical cannabis and have a compassionate use program to support patients with financial needs.
Forward Looking Statements
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation which are based upon CannTrust's current internal expectations, estimates, projections, assumptions and beliefs and views of future events. Forward-looking information can be identified by the use of forward-looking terminology such as "expect", "likely", "may", "will", "should", "intend", "anticipate", "potential", "proposed", "estimate" and other similar words, including negative and grammatical variations thereof, or statements that certain events or conditions "may", "would" or "will" happen, or by discussions of strategy.
Forward-looking information include estimates, plans, expectations, opinions, forecasts, projections, targets, guidance or other statements that are not statements of fact.
Any forward-looking information speaks only as of the date on which it is made, and, except as required by law, CannTrust does not undertake any obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for CannTrust to predict all such factors. When considering these forward-looking statements, readers should keep in mind the risk factors and other cautionary statements in CannTrust's Final Long Form Prospectus dated August 11, 2017 and filed with the applicable Canadian securities regulatory authorities on SEDAR at www.sedar.com. The risk factors and other factors noted in CannTrust's Final Long Form Prospectus could cause actual events or results to differ materially from those described in any forward-looking information.
VAUGHAN, ON, Feb. 12, 2018 /CNW/ - CannTrust Holdings Inc. ("CannTrust" or the "Company"), (CSE:TRST) (OTC:CNTTF), one of Canada's leading licensed producers of cannabis, is pleased to announce that it has received its Health Canada Sales License for the 250,000 square foot Phase 1 of its 46 acre Niagara Region state of the art cannabis greenhouse production facility.
10 harvests have now been completed at the Niagara Facility, the 180,000 square foot Phase 2 expansion is currently underway and is anticipated to be completed and in cultivation towards the middle of 2018. In addition, due to its size, the Facility provides the Company with the ability for future expansion.
"The Phase 1 infrastructure renovations were completed both on budget and on time. This is a testimony to our amazing team, our data driven processes and our focus on disciplined execution," said Brad Rogers, CannTrust's President.
"The expansion of our Greenhouse Facility together with our Health Canada Sales Licence will allow CannTrust to meet growing market demand and provide maximum value to our customers, partners and shareholders. Our increased production together with our expanding product lines positions us to continue to build on our strong partnerships in both the Canadian retail recreational market and in the global emerging markets" said Eric Paul, CannTrust's Chief Executive Officer.
About CannTrust™
Since its inception in 2014, CannTrust has led the Canadian market in producing pharmaceutically standardized product.
As a federally regulated licensed producer, CannTrust™ brings more than 40 years of pharmacy and healthcare experience to the medical cannabis industry. CannTrust currently operates a 50,000 square foot state-of-the-art hydroponic facility in Vaughan, Ontario, as well as the recently completed 250,000 square foot Phase 1 redevelopment of its 430,000 square foot Niagara Greenhouse Facility. The Phase 2 expansion is underway and is anticipated to be completed and in cultivation towards the middle of 2018.
CannTrust™ is committed to research and innovation, as well as contributing to the growing body of evidence-based research regarding the use and efficacy of cannabis. Our product development teams along with our exclusive global pharma partner, Apotex Inc., are diligently innovating and developing products that will make it easier for patients to use medical cannabis. We support ongoing patient education about medical cannabis and have a compassionate use program to support patients with financial needs.
Forward Looking Statements
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation which are based upon CannTrust's current internal expectations, estimates, projections, assumptions and beliefs and views of future events. Forward-looking information can be identified by the use of forward-looking terminology such as "expect", "likely", "may", "will", "should", "intend", "anticipate", "potential", "proposed", "estimate" and other similar words, including negative and grammatical variations thereof, or statements that certain events or conditions "may", "would" or "will" happen, or by discussions of strategy.
Forward-looking information include estimates, plans, expectations, opinions, forecasts, projections, targets, guidance or other statements that are not statements of fact.
Any forward-looking information speaks only as of the date on which it is made, and, except as required by law, CannTrust does not undertake any obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for CannTrust to predict all such factors. When considering these forward-looking statements, readers should keep in mind the risk factors and other cautionary statements in CannTrust's Final Long Form Prospectus dated August 11, 2017 and filed with the applicable Canadian securities regulatory authorities on SEDAR at www.sedar.com. The risk factors and other factors noted in CannTrust's Final Long Form Prospectus could cause actual events or results to differ materially from those described in any forward-looking information.
Shopify Selected as the E-Commerce Solution for Ontario Retail Cannabis
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/02/12/Shopify---The-E-Commerce-Solution-for-Ontario-Cannabis
Today, it was announced that the Liquor Control Board of Ontario, a.k.a LCBO, has chosen to structure a deal with Ottawa-based Shopify (NYSE:SHOP) (TSX:SHOP) to be the e-commerce and point-of-sale platform for cannabis sales online as well as in stores in Ontario.
The province recently announced its framework for managing the sales and use of retail cannabis in the province. Not only will people be able to purchase cannabis in-person, but through an online ordering service as well.
The plan includes 80 stand alone stores to be opened by July 1st, 2019. The hope is that by 2020, 150 will be open. The proposed minimum age will be 19 to use, purchase and possess recreational cannabis in Ontario. Brick and mortar locations aside, many have wondered how the online purchasing portion of retail cannabis sales will work for those more inclined to do their buying digitally.
As mentioned above, Shopify's platform will also be used for in-store retail purchases as well. In the brick and mortar locations, the Shopify platform will be used on iPads for the processing of transactions as well as the displaying of product and health info.
The president and CEO of the LCBO, George Soleas commented,"We look forward to combining our expertise as a socially responsible retailer with Shopify's world-class commerce solutions to deliver the safe, informed and reliable shopping experience that our new customers will expect."
This morning at the open, shares or Shopify had reacted well to the news of the arrangement announced several hour prior. Friday, Feb 9th, shares of SHOP closed at $119.55. After the news, they opened Monday morning at $123.30 USD. This is a significant change of over 3% for the $12+ Billion USD market cap e-commerce behemoth.
As shares continues to react to the news throughout the trading day, this announcement was a fantastic opportunity for those trading on the news to see nice returns this AM.
Today's announcement was just one of many to come in which we see major corporations that were otherwise disconnected from the cannabis industry get to benefit from the major shift of legalization of cannabis in Canada and beyond.
To stay up to date with important developments in the cannabis industry, be sure to subscribe to one or more of our free email newsletters. Also, connect with The Daily Marijuana Observer on Facebook, Twitter, StockTwits and Instagram!
Digipath Posts Record Revenue and EBITDA Results for Q1 2018
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/02/12/DIGP-Digipath-Posts-Record-Revenue-and-EBITDA-Results-for-Q1-2018
LAS VEGAS, Feb. 12, 2018 /PRNewswire/ -- Digipath, Inc. (OTC:DIGP) ("DIGP" or the "Company"), a service oriented independent testing laboratory and media firm focused on the developing cannabis market, today announced financial and operating results for the three months ended December 31, 2017.
FULL RELEASE: https://www.dailymarijuanaobserver.com/single-post/2018/02/12/DIGP-Digipath-Posts-Record-Revenue-and-EBITDA-Results-for-Q1-2018
Nutritional High Announces Approval of Calyx Acquisition
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/02/12/Nutritional-High-Announces-Approval-of-Calyx-Acquisition
TORONTO, Feb. 12, 2018 (GLOBE NEWSWIRE) -- Nutritional High International Inc. (the "Company" or "Nutritional High") (CSE:EAT) (OTC:SPLIF) (FRANKFURT:2NU) is pleased to announce that the shareholders of Calyx Brands Inc. ("Calyx") have approved an acquisition of 100% of Calyx's assets ("Acquisition") by Nutritional High. To this end, the Company and Calyx have entered into asset purchase agreement ("APA") setting the closing date of the acquisition at the end of February 2018. The terms of the acquisition remain unchanged from the previous update provided by the Company on November 7, 2017.
Jim Frazier, CEO of Nutritional High, commented – "We are very excited to continue advancing the acquisition of Calyx and are excited to pursue a partnership that will help us secure a leading foothold in the California cannabis market. Legal sales of cannabis in California for adult use are just around the corner and having a strong distribution channel will be key in establishing Nutritional High and its brands as market leaders. We look forward to working with Mr. Dakota Sullivan and his team as we join forces in this exciting time."
Dakota Sullivan, CEO of Calyx, commented - "The Calyx team is very happy to be formally joining the Nutritional High fold. We've been working well together these past few months and Nutritional High's support has been critical at this time of great growth as the California marketplace adopts adult-use recreational cannabis. We are excited to service both the medical and adult-use markets under the Nutritional High banner."
About Nutritional High International Inc.
Nutritional High is focused on developing, manufacturing and distributing products and nationally recognized brands in the marijuana-infused products industry, including edibles and oil extracts for nutritional, medical and adult recreational use. The Company works exclusively through licensed facilities in jurisdictions where such activity is permitted and regulated by state law.
For updates on the Company's activities and highlights of the Company's press releases and other media coverage, please follow Nutritional High on Facebook, Twitter, Instagram and Google+ or visit www.nutritionalhigh.com.
For further information, please contact:
David Posner, Chairman of the Board
Nutritional High International Inc.
647-985-6727
Email: dposner@nutritionalhigh.com
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR OTC MARKETS GROUP INC., NOR THEIR REGULATIONS SERVICES PROVIDERS HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Such statements include submission of the relevant documentation within the required timeframe and to the satisfaction of the relevant regulators, completing the acquisition of the applicable real estate and raising sufficient financing to complete the Company's business strategy. There is no certainty that any of these events will occur. Although such statements are based on management's reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances.
Company's securities have not been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or "U.S. Persons", as such term is defined in Regulation S under the U.S. Securities Act, absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful.
Additionally, there are known and unknown risk factors which could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.
Analyst Rates Marrone Bio Innovations a 'Hold'
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/02/08/MBII-Analyst-Rates-Marrone-Bio-Innovations-a-Hold
Jefferies' Laurence Alexander just announced a 'hold' rating on shares of Marrone Bio Innovations, Inc. (NASDAQ:MBII) alongside a price target of $1.15 per share. Based on three analysts we track that cover Marrone Bio, shares of MBII currently have an average price target of $2.33 per share.
With a last trade price of $1.18 for shares of Marrone Bio, this price target represents roughly 2.5% of potential downside.
Over the last few days, we've seen two large insider buy transactions on shares of MBII, sending bullish sentiment to existing and potential investors.
MedReleaf's San Rafael '71 Launches With Cannabis-inspired Beer
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/02/09/MedReleafs-San-Rafael-71-Launches-With-Cannabis-inspired-Beer
MARKHAM, ON, Feb. 9, 2018 /CNW/ - MedReleaf Corp. (TSX:LEAF) Canada's first and only ISO 9001 and ICH-GMP certified cannabis producer, today announced the introduction of its first adult-use recreational brand: San Rafael '71, inspired by and designed to celebrate the spirit of classic cannabis culture.
San Rafael '71 has been designed with the classic consumer in mind, one of the largest segments of the Canadian cannabis market. San Rafael '71 is for adults who are discerning and knowledgeable about cannabis products and those who value quality and an authentic experience.
To mark the launch and to introduce Canada to the brand, the company has partnered with one of Canada's most well-regarded brewers, Amsterdam Brewing, to develop and launch the first San Rafael '71 product, 4:20 Pale Ale.
"While cannabis aficionados eagerly anticipate the day they can buy legal products, we thought we'd offer the San Rafael '71 4:20 Pale Ale for them to enjoy while they wait," noted Darren Karasiuk, VP Strategy at MedReleaf. "San Rafael '71 4:20 Pale Ale does not contain any cannabis, but it will take you back to where it all began and introduce Canadians to the spirit of adventure, exploration and freedom at the heart of 4:20."
4:20 began as a reference to the time of day when a group of friends would meet to search for what was believed to be a hidden crop of cannabis. The meeting place was San Rafael, California and the year was 1971. Over the past half century, 4:20 has evolved to more broadly symbolize cannabis folklore and lifestyle. MedReleaf brought these historical facts together to develop a new brand – San Rafael '71 – that genuinely captures and celebrates the spirit of the classic cannabis culture.
"Our award-winning team created a flavour profile using a unique blend of citrus and summit hops and specialty malts that gives a nod to the cannabis experience with peach and pine aromas giving way to spice and mild bitterness," noted Jeff Carefoote, CEO of Amsterdam Brewing. "In a further nod to 4:20, San Rafael '71 4:20 Pale Ale contains 4.20% alcohol by volume and 42 IBUs."
San Rafael '71 4:20 Pale Ale will be available in 473ml cans at The Beer Store starting February 12th, and is currently in Amsterdam's two retail locations and on tap in more than 40 of the GTA's finest establishments.
"4:20 is a defining symbol of cannabis culture, and we wanted to celebrate and pay tribute to that history and inspiration," noted Neil Closner, CEO of MedReleaf. "As we have said before, MedReleaf intends to fortify and extend its leadership position in the industry beyond the medical market. The launch of San Rafael '71 is the first of many steps on this front including a portfolio of brands and products that leverage the company's award-winning product selection, quality and innovation."
A full suite of San Rafael '71 products and experiences will be introduced to the marketplace as regulations allow.
We encourage adults interested in keeping up to date on brand and product developments to visit www.sanrafael71.com and provide their email address. Enthusiasts can follow along on social as well @sanrafael71.
About MedReleaf Corp.
Voted Top Licensed Producer at the 2017 Lift Canadian Cannabis Awards, MedReleaf is an R&D-driven company dedicated to innovation, operational excellence and the production of top-quality cannabis. Sourced from around the world and carefully cultivated in one of two state of the art ICH-GMP and ISO 90001 certified facilities in Ontario, the Company delivers a variety of premium products for the global medical market and is committed to serving the therapeutic needs of its medical patients and providing a compelling product assortment for the adult-use recreational consumer.
Namaste to Re-File Q1 2018 Interim Financial Statements to Correct Errors
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/02/07/N-NXTTF-Namaste-to-Re-File-Q1-2018-Interim-Financial-Statements-to-Correct-Errors?utm_campaign=005d264908-EMAIL_CAMPAIGN_2017_08_28&utm_medium=email&utm_source=D.M.O.%2BNewsletter&utm_term=0_75e1ee9d7e-005d264908-71132567
VANCOUVER, British Columbia, Feb. 07, 2018 (GLOBE NEWSWIRE) -- Namaste Technologies Inc. (“Namaste” or the “Company”) (CSE:N) (FRA:M5BQ) (OTC:NXTTF) announces today that it intends to re-file its unaudited condensed interim consolidated financial statements (the “Interim Financial Statements”) and related management discussion and analysis (“MD&A”) for the three month period ended November 30, 2017 in order to correct errors for the three month periods ended November 30, 2016 and November 30, 2017. The corrections do not affect the Company’s August 31, 2017 audited annual financial statements.
For the three-month period ended November 30, 2017, these errors will have no impact on revenue, gross margin or cash and will result in a reduction in net loss of Namaste for the three-month period ended November 30, 2017.
For the three-month period ended November 30, 2016, these errors will impact gross margin and will also result in a reduction in net loss for the three-month period ended November 30, 2016. There is no impact on revenue or cash.
The Company is working with its auditors who are completing a review engagement and will file its restated Interim Financial Statement and MD&A shortly. The re-filing is being made voluntarily by the Company.
About Namaste Technologies Inc.
Namaste is the largest online retailer for medical cannabis delivery systems globally. Namaste distributes vaporizers and smoking accessories through 24 e-commerce sites in 20 countries and with distribution hubs located around the world. Namaste has majority market share in Europe and Australia, with operations in the UK, 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.
Forward Looking Information
Certain statements made in this press release may constitute forward-looking information under applicable securities laws. These statements are based on Namaste’s 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.
Invictus' Acreage Pharms' Phase 2 Construction Near Completion
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/02/08/Invictus-Acreage-Pharms-Phase-2-Construction-Near-Completion
VANCOUVER, Feb. 8, 2018 /PRNewswire/ - INVICTUS MD STRATEGIES CORP.'s ("Invictus" or the "Company") (TSXV:IMH); (OTC:IVITF) (FRA:8IS1) Acreage Pharms Ltd. ("Acreage Pharms") is pleased to announce construction of its Phase 2 facility is nearly complete, putting Acreage Pharms on track for 5,000 kg of cannabis production capacity this month. The timely construction also keeps Phase 3 construction plans on schedule.
"Facility construction is one of the foundations of our progress at this point, and we are thrilled that our teams of building specialists are completing work on this ambitious schedule on time," said Dan Kriznic, Chairman and CEO of Invictus. "In addition, the quality of the craftsmanship is superb, which is key — we are building state-of-the-art grow and extraction facilities that are meant to last for generations."
Both the Phase 1 and Phase 2 facilities at Acreage Pharms, located in west-central Alberta, have a total of approximately 40,000 square feet with expected 5,000 kg of capacity beginning in February 2018, along with a further planned 80,000 square foot Phase 3 expansion for total combined production capacity of 19,000 kg in 2018.
During the course of the next few weeks, Acreage Pharms final interior construction will include:
Installation of advanced security system
Completion of electrical installation
Installation of cooling and relative humidity control and grow lights
At the same time, Acreage Pharms has delivered the amendment to license application for Phase 2 to Health Canada and expect the processing of the application to take a few weeks. Once facility construction is complete this month and Health Canada has granted authorization, Acreage Pharms can begin growing within the Phase 2 facility. Invictus further expects its 100% owned subsidiary Acreage Pharms to receive its sales license in the first quarter of 2018, as it has already harvested multiple successful crops and the product has already been tested.
Trevor Dixon, CEO of Acreage Pharms commented, "We are very pleased to have such a talented staff and group of contractors working on this project. With completion of Phase 2, we look forward to beginning our cultivation and to continue to work with our own genetics program to produce high CBD yielding plants and a variety of other desirable cannabinoid profiles including high THC to fill the medical need as well as the recreational market".
"Consumer demand for cannabis continues to grow rapidly among medical patients, and demand for cannabis is expected to spike further when recreational cannabis sales are permitted across Canada beginning in July," said Kriznic. "We have been carefully and strategically building Acreage Pharms to both meet existing demand and anticipate expanded demand across 2018, and are exceedingly pleased with the timely and high-quality work being completed by our teams."
Dan Kriznic, Chairman and CEO commented, "We continue to focus on utilizing our $38 million of cash in treasury to build out additional square footage to meet the expected demand once Canada becomes recreationally legal this year. Our current funded capacity is approximately 27,200 kg, as well as our planned expansion to get to approximately 76,400 kg in 2019 with a net to Invictus of 67,000 kg brings us in line with some of our peers that are leading the industry. The Sales license for AB Laboratories Inc. has been a catalyst to getting to this stage and the next catalyst will be our sales license for Acreage Pharms that is expected to occur in this first quarter of 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 50% investment in AB Laboratories Inc., located near Hamilton, Ontario which has both its cultivation and sales license under ACMPR. Combined the two licenses and an expected third license under AB Ventures Inc. are expected to have an approximate annual run-rate production capacity of 76,400 kg by 2019. 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 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, timing, 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 Ventures and Acreage Pharms, Acreage Pharms' receipt of a sales license and the success and timing of Acreage Pharms' expansion plans, expected sales of inventory and the completion of the increase in the Company's ownership of AB Labs pursuant to the definitive agreement (the "Transaction") 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 that AB Labs, AB Ventures and Acreage Pharms will satisfy all conditions for, and receive, regulatory approval to sell medical cannabis at their production facilities' full capacity, AB Ventures will satisfy all conditions for and be granted a license under the ACMPR and will receive a development permit on the expected terms, AB Ventures is able to successfully build a production facility, Acreage Pharms will satisfy all conditions for and successfully obtain the anticipated sales license and will successfully complete its expansion plans, the anticipated sales of inventory will take place on the terms and timing expected by management, all conditions to the closing of the Transaction will be satisfied and the Transaction will complete on the terms set out in the definitive agreement and that the legalization of recreational use of cannabis in Canada will occur as expected. 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 for their full production capacity or at all, that AB Labs, AB Ventures or Acreage Pharms will not reach full production capacity, that AB Ventures will not be granted a license under the ACMPR or will not receive a development permit on the expected terms or at all, that AB Ventures is not able to successfully build a production facility, that Acreage Pharms is not able to obtain the anticipated sales license when expected by management or at all or is not able to successfully complete its expansion plans, that the anticipated sales of inventory will not occur on the terms and timing expected by management or at all, that the Transaction will not complete on the expected terms or at all and that the legalization of recreational use of cannabis in Canada will not occur at all or as expected. 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.
Future Farm Acquires Stake in 5 Dispensary Licenses in Puerto Rico
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/02/08/FFT-FFRMF-Future-Farm-Acquires-Stake-in-5-Dispensary-Licenses-in-Puerto-Rico
Vancouver, British Columbia, Feb. 08, 2018 (GLOBE NEWSWIRE) -- Future Farm Technologies Inc. (the “Company” or “Future Farm”) (CSE:FFT) (OTC:FFRMF) is pleased to announce that is has closed on the previously announced joint venture between Future Farm and TCG Investments, LLC, owners of the Clinica Verde brand of medical cannabis dispensaries (“Clinica Verde”). Future Farm has purchased a 40% ownership interest and a 50% economic interest in FFPR, LLC, a Puerto Rican limited liability company, which holds five pre-qualifications for medical dispensary licenses (the “Licenses”). The five medical cannabis dispensaries in Puerto Rico will be operated under the Clinica Verde brand, which has already established itself as the leading medical cannabis dispensary operator in Puerto Rico. Currently, Clinica Verde has five operating dispensaries and with this partnership the brand will have ten in total.
Future Farm is investing and partnering with the most experienced operator in Puerto Rico, thereby leveraging their brand and dispensary experience on the island. This investment is part of Future Farm’s plan of continuing to create a diversified portfolio of cannabis investments for its shareholders.
“Our existing stores are located in high-traffic locations, and ever since our launch in February 2017 we have enjoyed sustained sales growth. We are excited to be working with the Future Farm team and expand our presence to ten stores in Puerto Rico, creating jobs and offering our patients the highest level of service,” says Ramón Ortiz, CEO of Clinica Verde. “The patient registration process was recently simplified and is now quicker and more accessible to all. We believe we will be able to start building out the new dispensary locations this year and look forward to a 2018 opening.”
Medical marijuana is legally used in Puerto Rico to address more than a dozen conditions, including Alzheimer's, cancer, Lou Gehrig's disease, Parkinson's, rheumatoid arthritis, Crohn's disease, epilepsy and more. On October 6, 2017, Puerto Rico’s Department of Cannabis' board approved allowing patients to go to any open clinic, regardless of the dispensary they had been assigned.
"We're pleased about the revenue opportunities these five major dispensaries open up to us as we provide medical marijuana patients with legal, consistent, pure flower, edibles and concentrates," says Bill Gildea, CEO of Future Farm Technologies. “Puerto Rico, with a population of almost 3.5 million residents and another 4 million annual visitors, is an exciting, new market for Future Farm.” The local population compares well to other states that have legal cannabis. By way of example: Colorado has a population of about 5,540,545, Utah 3,051,217, Arizona, 6,931,071 and Nevada has 2,940,058.
Puerto Rico’s MMJ industry has full governmental support, which means the island could become a cannabis tourism mecca of the Caribbean. Importantly, the island’s cannabis law includes a reciprocity policy that allows dispensaries to serve patients whom are visiting for business or just on vacation, as long as they hold a medical marijuana card from their home state.
As consideration for the 40% ownership interest and a 50% economic interest, Future Farm agrees to pay USD$865,000 (USD$346,000.00 to TCG and USD$519,000.00 to FFPR, LLC’s sole member.)
The Company is also pleased to announce that it is granting incentive stock options to certain directors, officers, employees and consultants to acquire a total of 3,487,500 common shares at an exercise price of $0.96CDN, which was the closing price on February 7, 2018. As per the Company’s Stock Option Plan, the options expire five (5) years from the date of grant and vest immediately.
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 Clinica Verde
TCG Investments, LLC (“TCG”) is a limited liability company headquartered in San Juan, Puerto Rico. TCG currently operates four medical cannabis dispensaries under the Clinica Verde brand in the municipalities of San Juan, Caguas and Humacao. All Clinica Verde dispensaries are located in high-traffic areas and are distinguished by their modern design and personalized service. Clinica Verde features medical cannabis products from all major licensed medical cannabis manufacturers in Puerto Rico. Under the proposed Joint Venture, TCG will operate 10 medical cannabis dispensaries in Puerto Rico by mid-2018.
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, generate 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. The Company will work with its partner to merge AR and ad-tech with the cannabis industry through the CannaCube LiveTM platform.
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.
Emerald Health Raising $18 MM CAD in Private Placement Offering of Units
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/02/08/Emerald-Health-Raising-18-MM-CAD-in-Private-Placement-Offering-of-Units
Emerald Health Therapeutics, Inc. (TSXV:EMH) (OTC:EMHTF) has announced this morning that it entered into a binding term sheet with a single Canadian institutional accredited investor under which the investor has agreed, subject to certain customary conditions, to purchase 3,000,000 units of the company at a price of $6.00 CAD per Unit for total gross proceeds of $18,000,000. It is important to note that shares of Emerald closed the trading day yesterday at $6.97 CAD per share.
In addition to the common share included in each unit, it also includes one common share purchase warrant. Each warrant entitles the investor to acquire one common share of the company at a price of $7.00 CAD per warrant share for a period of six months following the closing of the offering.
For further details regarding the company's capital raise, read the full press release here.
To sign up for Emerald Health alerts, click here. To stay up to date with important developments in the cannabis industry, be sure to subscribe to one or more of our free email newsletters. Also, connect with The Daily Marijuana Observer on Facebook, Twitter, StockTwits and Instagram!
Aurora Announces Q2 Fiscal 2018 Results
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/02/08/Aurora-Announces-Q2-Fiscal-2018-Results
EDMONTON, Feb. 8, 2018 /CNW/ - Aurora Cannabis Inc. (the "Company" or "Aurora") (TSX:ACB) (OTC:ACBFF) (Frankfurt:21P; WKN:A1C4WM) today announced its financial and operational results for the second quarter of fiscal 2018, ended December 31, 2017.
FULL RELEASE: https://www.dailymarijuanaobserver.com/single-post/2018/02/08/Aurora-Announces-Q2-Fiscal-2018-Results
Cannabis Wheaton Announces Closing of Inner Spirit Holdings Ltd. Transaction
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/02/07/Cannabis-Wheaton-Announces-Closing-of-Inner-Spirit-Holdings-Ltd-Transaction
VANCOUVER, British Columbia, Feb. 07, 2018 (GLOBE NEWSWIRE) -- Cannabis Wheaton Income Corp. (d/b/a Wheaton Income) (TSXV:CBW) ("Wheaton Income" or the "Company") is pleased to announce that it has closed its previously announced transaction (the “Transaction”) with Inner Spirit Holdings Ltd. (“Inner Spirit”).
Inner Spirit is the parent company of Spirit Leaf Inc., which aims to be a market leader in the franchising of retail cannabis dispensaries in jurisdictions in Canada where the private distribution of recreational cannabis is permitted. Inner Spirit has currently executed over 100 franchise agreements in Canada for proposed retail locations which strongly positions the specialty retailer and franchisor in preparation for recreational cannabis legalization in July 2018.
Under the terms of the Transaction, the Company acquired 15,000,000 common shares of Inner Spirit (“Inner Spirit Shares”) and pursuant to a strategic alliance agreement, was granted the exclusive right to supply up to 50 percent of Inner Spirit’s annual inventory requirements for any cannabis, cannabis-infused or cannabis-derived products to be sold at its retail dispensaries with a mutually agreeable profit-sharing arrangement relating to any such cannabis product sales. In exchange for the Inner Spirit Shares, the Company provided Inner Spirit with a closing cash payment of $350,000 and issued to Inner Spirit 674,418 common shares and 1,250,000 common share purchase warrants.
Pursuant to the investment agreement entered into by the Company and Inner Spirit, the Company also exercised its pre-emptive right to acquire an additional 1,500,000 Inner Spirit Shares for $150,000 and as a result now holds approximately 15% of the total issued and outstanding common shares of Inner Spirit.
The Company would also like to congratulate Inner Spirit on the concurrent closing of the final tranche of its previously announced private placement for gross proceeds of approximately $4.5 million which Inner Spirit intends to use to build out its flagship corporate dispensary in Calgary, Alberta, develop its Spiritleaf brand, and support the rollout of its franchise partners once the private sale of recreational cannabis is permitted.
ON BEHALF OF THE BOARD
"Chuck Rifici" Chairman & CEO
About Wheaton Income (TSX.V:CBW)
Wheaton Income is a collective of entrepreneurs with a passion for the cannabis industry past, present and future. Our mandate is to facilitate growth for our partners by providing them with financial support and sharing our collective industry experience. Our partners all have different visions, voices and brand values, and all share a common goal—to build a world-class industry based on ethics, diversity, quality and innovation.
Stay Connected:
For more information about investing in Cannabis Wheaton, please visit: http://www.wheatonincome.com
or contact our investor relations team at: 800.980.1314 or IR@wheatonincome.com. Follow up on Twitter @WheatonIncome.
Media Contact:
Sarah Bain, VP External Affairs
Email: sarah@cannabiswheaton.com
Phone: 613.230.5869
Notice Regarding Forward Looking Statements:
This news release contains certain "forward-looking information" within the meaning of applicable Canadian securities law. Forward-looking information is frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or information that certain events or conditions "may" or "will" occur. This information is only a prediction. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking information throughout this news release. Forward-looking information includes, but is not limited to: regulatory or political change, the ability to obtain all necessary approvals in connection with the Transaction, including approvals for the sale of cannabis, the Company’s ability to generate revenue through the Transaction, competition and other risks affecting the Company in particular and the cannabis industry generally. Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Neither the Company nor Inner Spirit is under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Medicine Man Technologies Adds Ten New Clients
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/02/07/MDCL-Medicine-Man-Technologies-Adds-Ten-New-Clients
Denver, CO, Feb. 07, 2018 (GLOBE NEWSWIRE) -- DENVER, CO, February 7, 2018 --- Medicine Man Technologies Inc. (OTC:MDCL) (“Medicine Man” or “Company”), one of the United States' leading cannabis branding and consulting companies, is pleased to provide an update on new client activity.
Since its last client update in December of 2017, Medicine Man has entered into ten new license and/or service agreements, including six based in Michigan, one based in Massachusetts, one based in Maryland, one based in New Jersey, and one based in Canada.
The Company also entered into an expansion agreement with one of its California-based Cultivation MAX clients that plans to triple its original space footprint (to 1492 flower lights from the original 480 planned for its indoor cultivation operation). The first phase of operations for this group should become active in late March with the expansion phase expected to come online later this summer. Three of the company’s California based cultivation clients have now secured temporary licensure status for cultivation operations in addition to the Denver Consulting Group’s Long Beach dispensary client becoming operational late last year.
Joshua Haupt, Medicine Man Technologies’ Chief Revenue Officer added, “As new Cultivation MAX clients come online throughout this year we plan to expand the number of our senior cultivation team members so that we may meet the increasing demand for our training and deployment services. We will continue to focus our work on the improvement of our unique and proprietary combination of cultivation methodology and nutrients so that all our clients may remain at the top of their business game, regardless of the state or country in which they operate. It is my firm belief that with the proper facility designs and training, our clients should be able to achieve some of the highest quality as well as quantity-based yields in the industry for both indoor and greenhouse-based cultivation facilities.”
Brett Roper, Medicine Man Technologies’ co-founder and CEO commented, “We continue to experience a strong year over year increase in both U.S. as well as international inquiries as our reputation and expanding client base continues to evolve. As of this date, we have submitted several formal service proposals to prospective new clients in multiple states and are confident that our client base will continue to increase over time. More specifically, we expect the industry to gain new traction in the form of additional states considering Cannabis initiatives that over time, should continue to fuel our growth.”
To be added to the Medicine Man email distribution list, please email, MDCL@kcsa.com with MDCL in the subject line.
About Medicine Man Technologies, Inc.
Established in March 2014, the Company secured its first client/licensee in April 2014. To date, the Company has provided guidance for several clients that have successfully secured licenses to operate cannabis businesses within their state. The Company currently has active clients in California, Oregon, Colorado, Nevada, Illinois, Michigan, Arkansas, Pennsylvania, Florida, Ohio, Maryland, Massachusetts, Puerto Rico, Canada, Germany, and South Africa. We continue to focus on working with clients to 1) utilize its experience, technology, and training to help secure a license in states with newly emerging regulations, 2) deploy the Company's highly effective variable capacity constant harvest cultivation practices through its deployment of Cultivation MAX, and eliminate the liability of single grower dependence, 3) avoid the costly mistakes generally made in start-up, 4) stay engaged with an ever expanding team of licensees and partners, all focused on quality and safety that will “share” the ever-improving experience and knowledge of the network, and 5) continuing the expansion of our Brands Warehouse concept through entry into industry based cooperative agreements and pursuing other acquisitions as they prove suitable to our overall business development strategy.
Safe Harbor Statement
This press release may contain forward looking statements which are based on current expectations, forecasts, and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected, including statements related to the amount and timing of expected revenues and any payment of dividends on our common and preferred stock, statements related to our financial performance, expected income, distributions, and future growth for upcoming quarterly and annual periods. These risks and uncertainties are further defined in filings and reports by the Company with the U.S. Securities and Exchange Commission (SEC). Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors detailed from time to time in our filings with the Securities and Exchange Commission. Among other matters, the Medicine Man Technologies may not be able to sustain growth or achieve profitability based upon many factors including, but not limited to, general stock market conditions. Reference is hereby made to cautionary statements set forth in the Company's most recent SEC filings. We have incurred and will continue to incur significant expenses in our expansion of our existing and new service lines, noting there is no assurance that we will generate enough revenues to offset those costs in both the near and long term. Additional service offerings may expose us to additional legal and regulatory costs and unknown exposure(s) based upon the various geopolitical locations where we will be providing services, the impact of which cannot be predicted at this time.
Therapix Completes Pre-IND Communication With FDA on THX-110
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/02/07/Therapix-Completes-Pre-IND-Communication-With-FDA-on-THX-110
TEL AVIV, Israel, Feb. 7, 2018 /PRNewswire/ -- Therapix Biosciences Ltd. (NASDAQ:TRPX) ("Therapix" or the "Company"), a specialty clinical-stage pharmaceutical company focusing on the development of cannabinoid-based treatments, announced today that it has held a pre-Investigational New Drug (pre-IND) communication with the U.S. Food and Drug Administration (FDA) to discuss the regulatory pathway for the development of THX-110 for the treatment of Tourette Syndrome.
"Following this informative communication with the FDA, we can confirm that the IND for THX-110 will not require any additional nonclinical data to support a phase IIb study in the the United States. We intend to submit the a NDA via the 505(b)(2) pathway. We believe that this enables us to continue our clinical program with minimum risk, which is consistent with our platform of repurposing and reformulating for unmet and under-served needs for Tourette Syndrome. We expect to evaluate THX-110 in a phase IIb clinical study in the second quarter of 2018," said Dr. Adi Zuloff-Shani, Chief Technology Officer at Therapix.
"THX-110 has the potential to become the first cannabinoid based medicine for Tourette Syndrome. Currently, two antipsychotic agents are the only FDA-approved medications for this neurological disorder: Haloperidol and Pimozide. However, these drugs are also often associated with significant adverse events," said Dr. Ascher Shmulewitz, Chairman and interim CEO of Therapix. "If approved, THX-110 could provide people who suffer from Tourette Syndrome with a treatment alternative to the antipsychotic agents," Dr. Shmulewitz added.
About Therapix Biosciences:
Therapix Biosciences Ltd. is a specialty clinical-stage pharmaceutical company led by an experienced team of senior executives and scientists. Our focus is creating and enhancing a portfolio of technologies and assets based on cannabinoid pharmaceuticals. With this focus, the company is currently engaged in the following drug development programs based on repurposing an FDA-approved synthetic cannabinoid (dronabinol): THX-110 for the treatment of Tourette syndrome (TS); THX-130 for the treatment of Mild Cognitive Impairment (MCI) and Traumatic Brain Injury (TBI); THX-120 for the treatment of Obstructive Sleep Apnea (OSA); and THX-150 for the treatment of infectious diseases. Please visit our website for more information at www.therapixbio.com
About THX-110
THX-110 is a combination drug candidate for the treatment of Tourette syndrome and Obstructive Sleep Apnea. It is based on two components: (1) dronabinol (an FDA approved synthetic analog of ?9-tetrahydracannabinol, or "THC"), which is the psychoactive molecule in the cannabis plant, and (2) palmitoylethanolamide ("PEA"), which is an endogenous fatty acid amide that belongs to the class of nuclear factor agonists, which are proteins that regulate the expression of genes. The combination of THC and PEA may induce a reaction known as the "entourage effect". The basic tenet of the entourage effect is that cannabinoids work together, or possess synergy, and affect the body in a mechanism similar to the body's own endocannabinoid system, which is a group of molecules and receptors in the brain that mediates the psychoactive effects of cannabis. This entourage effect may account for the pharmacological actions of PEA. Based on an activity enhancement of other physiological compounds, PEA may indirectly stimulate the cannabinoid receptors by potentiating their affinity for a receptor or by inhibiting their metabolic degradation, and by doing so, may increase the uptake of cannabinoid compounds, such as THC. Thus, it is speculated that the presence of the PEA molecule could increase the efficacy of orally administered THC, while reducing the required dosage and decreasing associated deleterious adverse events.
About Tourette Syndrome
Tourette Syndrome (TS) is a neuropsychiatric disorder, characterized by physical (motor) tics and vocal (phonic) tics. Motor or phonic tics are sudden, brief, intermittent, involuntary or semi-voluntary movements or sounds, respectively. They typically consist of brief, coordinated, repetitive movements, gestures, or utterances that mimic fragments of normal behavior. Tic symptoms of TS typically manifest between 4 and 6 years of age, and peak in severity between the ages of 10 and 12 years. However, they often improve over the course of adolescence. Motor tics generally precede the development of phonic tics in TS, and the onset of simple tics usually predates that of complex tics.
TS appears in a wide range of tics severity, from mild symptoms that do not cause serious impairment and often go unnoticed, to loud noises and forceful movements that can result in self-injury. Many with TS experience additional neurobehavioral problems and co-morbidities including OCD and ADHD.
The most severe cases of the disease are often observed in adults. The persistence of the disease into adulthood may have serious consequences that may include self-injurious tics and those that cause social unease, such as echolalia (repeating other people's words), and coprolalia (uttering swear words). Reports on TS adults who exhibited poor response to medications and were hospitalized due to deterioration of their clinical state further support the deleterious effect of the disease in adult patients.
Forward-Looking Statements:
This press release contains forward-looking statements about the Company's expectations, beliefs, and intentions. Forward-looking statements can be identified by the use of forward-looking words such as "believe", "expect", "intend", "plan", "may", "should", "could", "might", "seek", "target", "will", "project", "forecast", "continue" or "anticipate" or their negatives or variations of these words or other comparable words or by the fact that these statements do not relate strictly to historical matters. Such forward-looking statements used in this press release include, among other things, references to the clinical and commercial potential of product candidates. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, our ability to raise the additional funding needed to continue to pursue our business and product development plans, the inherent uncertainties associated with developing new products or technologies, our ability to obtain regulatory approval for our product candidates, our ability to commercialize our product candidates, competition in the industry in which we operate and overall market conditions. Any forward-looking statement in this press release speaks only as of the date of this press release. The Company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws. More detailed information about the risks and uncertainties affecting the Company is contained under the heading "Risk Factors" in Therapix Biosciences Ltd.'s annual report on Form 20-F dated May 1, 2017 filed with the SEC, which is available on the SEC's website, www.sec.gov.
CannaRoyalty Expands Bhang® Brand Vaporizer Footprint in California
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/02/07/CannaRoyalty-Expands-Bhang%25C2%25AE-Brand-Vaporizer-Footprint-in-California
OTTAWA, Feb. 7, 2018 /CNW/ - CannaRoyalty Corp. (CSE:CRZ) (OTC:CNNRF) ("CannaRoyalty" or the "Company"), an active investor and operator in the legal cannabis industry, announced today the launch of the Bhang® Vaporizer ("Bhang Vape") product portfolio into the entire Southern California region through CannaRoyalty investee River Collective ("River"), California's largest cannabis distributor. This expansion provides hundreds of additional dispensaries in Southern California with access to Bhang Vape's line of oils, disposable vape pens, and cartridge vape kits, through the River Distribution network. The Company expects that River will rapidly expand Bhang Vape's distribution footprint over the next six months.
"The expansion of Bhang Vape beyond the Alta Supply Inc. ("Alta") retail footprint in Northern California through River's distribution channel in Southern California is an important milestone for CannaRoyalty as our investments in both leading brands and distribution come together to generate growth," said Marc Lustig, CEO of CannaRoyalty. "Our strategy has always been to invest in best-in-class brands and infrastructure, and to leverage multiple investments to control key, value-add segments of the supply chain. Distribution is one of these core strategic segments and the expertise of leading distributors like Alta and River will continue to grow in importance with California stipulating that all cannabis product sales flow through a licensed distributor beginning on July 1st. With adult-use recreational transitions in both California and Canada in 2018, we expect that the efforts made by our team over the past few years to assemble this portfolio will continue driving significant value both within our portfolio and for our shareholders."
Dave Vautrin, President of CR Brands, added, "The Bhang Vape relationship is already proving to be beneficial on several levels. Beyond a revenue accelerator to our organic growth, it is enabling us to further enhance our organizational capabilities with the addition of an industry-proven team who have expertise in areas such as supply chain, manufacturing and purchasing, which are essential capabilities as we scale our operations. Over the next six months we will pair CR Brands and Bhang Vape by implementing core brand-building strategies, including a broad range of tactics designed to leverage our existing expertise, such as: a focus on social media with our CR Crew; connecting at ground-level with budtender training; extensive and targeted consumer outreach; and experiential marketing. We will focus on enhancing our merchandising and refining brand positioning to drive meaningful customer experiences and maximize returns for the Company."
The Bhang Vape portfolio features a range of over 20 cannabis product SKUs. These include CBD oils which have great demand on the medical consumer side while the balance of the premium line crosses over well for the new adult-use market. Bhang Vape is a well-established brand in California with a historically loyal and growing consumer base. As a result of being an active legacy brand in California, Bhang Vape is well-prepared and in full compliance with the latest California compliance hurdles that many players in the market are currently facing.
On November 28, 2017, CannaRoyalty announced the execution of binding term sheets to acquire Kaya Management Inc. ("Kaya") which is the exclusive manufacturer and license holder of rights for Bhang Vape products in California, and to acquire Alta, which is a distributor of Bhang Vape and Bhang® chocolate products in Northern California, as well as distributing products for over a dozen other well-known third-party cannabis brands throughout California. The term sheets remain binding and CannaRoyalty expects to close in the coming weeks.
About CannaRoyalty
CannaRoyalty is an active investor and operator in the legal cannabis industry. Our focus is building and supporting a diversified portfolio of growth-ready assets in high-value segments of the cannabis sector, including research, consumer brands, devices and intellectual property. Our management team combines a hands-on understanding of the cannabis industry with seasoned financial know-how, assembling a platform of holdings via royalty agreements, equity interests, secured convertible debt, licensing agreements and its own branded portfolio. CannaRoyalty's shares trade on the Canadian Stock Exchange (CSE) under the symbol CRZ and internationally on the OTCQX under the symbol CNNRF.
Forward Looking Statements
Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in CannaRoyalty's periodic filings with Canadian securities regulators. When used in this news release, words such as "will, could, plan, estimate, expect, intend, may, potential, believe, should," and similar expressions, are forward- looking statements.
Forward-looking statements may include, without limitation, statements regarding the Company's expectations with respect to pursuing new opportunities and future growth for Trichome and other statements of fact.
Although CannaRoyalty has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to: competition from banks and other lenders; movements and long term trends in interest rates; the ability of management to select companies that will increase in value and to compete for desirable transactions; the ability to source desirable transactions; dependence on obtaining regulatory approvals; investing in target companies or projects which have limited or no operating history; changes in laws; limited operating history; reliance on management; requirements for additional financing; and regulatory or political change.
There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. As a result of these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events.
Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this release. CannaRoyalty disclaims any intention or obligation to update or revise such information, except as required by applicable law, and CannaRoyalty does not assume any liability for disclosure relating to any other company mentioned herein.
Aurora Cannabis Launches Aurora PRO Corporate Account Program
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/02/07/Aurora-Cannabis-Launches-Aurora-PRO-Corporate-Account-Program
EDMONTON, Feb. 7, 2018 /CNW/ - Aurora Cannabis Inc. ("Aurora") (TSX:ACB) (OTC:ACBFF) (Frankfurt:21P; WKN:A1C4WM) announced today that it has launched a new B2B service, Aurora PRO, for licensed producers ("LPs") and licensed retailers ("LRs") in the forthcoming adult consumer market.
Aurora PRO is a broad service offering that leverages Aurora's purchasing power, quality assurance processes, technological infrastructure, cultivation know-how, distribution channels, as well as its best-in-class customer service to help simplify the sales process and effectively deliver products to market. Aurora PRO creates a quick, seamless, and scalable platform to facilitate wholesale B2B transactions, while at the same time offering a broad range of operational support services and market intelligence to private retailers.
The execution of Aurora PRO will be by way of a secure internet portal, with dedicated staff providing additional resources and in-person services to producers and retailers subscribed to the service.
Aurora PRO for Producers
Aurora PRO is aimed at producers of any scale, from craft growers, to larger bulk wholesale-focused LPs. Through transacting with Aurora, LPs have the ability to overcome distribution barriers and minimum supply requirements that may prevent them from gaining access to key provincial markets and getting their product into the hands of consumers.
Additionally, Aurora and its wholly-owned subsidiary ALPS (Aurora Larssen Projects Ltd), will be offering cultivation and operational services to producers, including packaging, quality assurance and logistics. Aurora PRO enables LPs to focus on what they do best, producing high-quality cannabis, without having to invest in, and operate, large sales, support and logistics operations.
Aurora PRO for Retailers
Through Aurora PRO, the Company also looks to partner with a wide variety of B2C market participants, including smaller independent retailers. Aurora intends to develop strong two-way partnerships with retailers, whereby feedback received translates into superior service.
The offering will include operational support, such as product and staff training, as well as consulting aimed to help optimize the retailers` purchasing strategies. The Company will also be providing intelligence to help retailers identify and react on market trends, as well as providing visibility into Aurora's production pipeline.
In markets where direct transactions between LPs and LRs will be allowed, the Company will help establish supply agreements, enabling its customers to secure sufficient product quantities, especially important in a market that is anticipated to be supply restricted during the period immediately following consumer legalization. In these markets, the Company anticipates offering a wide variety of strains, including those sourced through LPs with Aurora PRO accounts, ensuring that its retail customers have the ability to stock products that resonate with their respective markets.
Management Commentary
"Aurora PRO is an innovative concept designed to facilitate win-win relationships among trusted partners," said Terry Booth, CEO. "We believe that Aurora PRO will provide a compelling, reliable and easy to use option for producers that are seeking market access for their products, while providing retailers with a responsive partner to help establish, develop and fine tune their operations. In a market expected initially to be supply restricted, Aurora PRO partners will have significant competitive advantages that will help them build market share and customer loyalty."
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 production facility in Mountain View County, Alberta, known as "Aurora Mountain", a 40,000 square foot production facility known as "Aurora Vie" in Pointe-Claire, Quebec, and an 800,000 square foot production facility, known as "Aurora Sky", at the Edmonton International Airport. Aurora is also completing a fourth facility of 48,000 square feet in Lachute, Quebec, and will shortly begin construction on a 1,000,000 square foot production facility in Odense, Denmark, to be known as "Aurora Nordic", via a joint venture with Alfred Pedersen & Søn ApS.
Aurora also owns Berlin-based Pedanios GmbH, the leading wholesale importer, exporter, and distributor of medical cannabis in the European Union. Aurora offers further differentiation through its wholly owned subsidiaries 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.
In addition, Aurora holds approximately 17.23% of the issued shares in leading extraction technology company Radient Technologies Inc., and has a strategic investment in Hempco Food and Fiber Inc., with options to increase ownership stake to over 50%. Aurora is also the cornerstone investor in two other licensed producers, with a 22.9% stake in Cann Group Limited, the first Australian company licensed to conduct research on and cultivate medical cannabis, and a 17.62% stake in Canadian producer The Green Organic Dutchman Ltd., with options to increase to majority ownership.
Aurora's common shares trade on the TSX under the symbol "ACB".
On behalf of the Boards of Directors,
AURORA CANNABIS INC.
Terry Booth
CEO
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 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) accept responsibility for the adequacy or accuracy of this release
MedReleaf Receives Health Canada Approval for Cannabis Softgel Capsules
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/02/06/MedReleaf-Receives-Health-Canada-Approval-for-Cannabis-Softgel-Capsules
MARKHAM, ON, Feb. 6, 2018 /CNW/ - MedReleaf Corp. (TSX:LEAF) ("MedReleaf" or the "Company"), Canada's first and only ISO 9001 and ICH-GMP certified cannabis producer, today announced that it has received Health Canada approval for the sale of its cannabis oil softgel capsules, becoming the first licensed producer ("LP") to bring colour-coded and cannabis variety-specific softgel capsules to market and the only LP to manufacture softgel capsules from a certified ISO and GMP facility.
"Orally ingested softgel capsules give prescribing physicians and patients precise dosing in a familiar and convenient medicinal form factor. These products provide access to cannabis for an under-served patient community more comfortable taking their medication in a traditional capsule rather than by oil or through vapourizers," said Robert Gora, Senior Director of Physician Outreach. "As part of MedReleaf's ongoing focus on patient safety, our softgel capsules are uniquely colour-coded to allow patients to easily differentiate between the specific cultivar or type of oil product that they are consuming, letting patients more safely manage their medication."
"Our product development teams continue to set the standard for innovation and quality in our industry with pharmaceutical-grade softgel capsules that faithfully capture both cannabinoid and terpenes profiles of our award-winning varieties. The addition of softgel capsules to our product line will enhance our efforts to build physician support for medical cannabis and are more cost effective to produce, easier to swallow, and have a longer shelf-life than standard oil capsules," added Neil Closner, CEO of MedReleaf.
MedReleaf's softgel capsules will be categorized by four different colours. This colour colding ensures that patients will know the specific cultivar or type of oil product they are consuming:
Blue for indicas (nighttime)
Yellow for sativas (daytime)
Colourless for capsules without THC (CBD only)
Purple for balanced products (featuring both THC & CBD)
Production of MedReleaf's softgel capsules has begun and will be available for order in the following varieties in the coming weeks:
MedReleaf patients and health care professionals are encouraged to visit www.MedReleaf.com to find out more and to order product.
About MedReleaf Corp.
Voted Top Licensed Producer at the 2017 Lift Canadian Cannabis Awards, MedReleaf is an R&D-driven company dedicated to innovation, operational excellence and the production of top-quality cannabis. Sourced from around the world and carefully cultivated in one of two state of the art ICH-GMP and ISO 90001 certified facilities in Ontario, the Company delivers a variety of premium products for the global medical market and is committed to serving the therapeutic needs of its medical patients and providing a compelling product assortment for the adult-use recreational consumer.
For more information on MedReleaf, its products, research and how the company is helping patients #livefree, please visit MedReleaf.com or follow @medreleaf
Forward Looking Statements
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation which are based upon MedReleaf's current internal expectations, estimates, projections, assumptions and beliefs and views of future events. Forward-looking information can be identified by the use of forward-looking terminology such as "expect", "likely", "may", "will", "should", "intend", "anticipate", "potential", "proposed", "estimate" and other similar words, including negative and grammatical variations thereof, or statements that certain events or conditions "may", "would" or "will" happen, or by discussions of strategy. Forward-looking information include estimates, plans, expectations, opinions, forecasts, projections, targets, guidance or other statements that are not statements of fact.
Any forward-looking information speaks only as of the date on which it is made, and, except as required by law, MedReleaf does not undertake any obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for MedReleaf to predict all such factors. When considering these forward-looking statements, readers should keep in mind the risk factors and other cautionary statements in MedReleaf's Annual Information Form dated June 27, 2017 and filed with the applicable Canadian securities regulatory authorities on SEDAR at www.sedar.com. The risk factors and other factors noted in MedReleaf's Annual Information Form could cause actual events or results to differ materially from those described in any forward-looking information.
Kush Bottles to Develop Custom Packaging For Future Farm
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/02/06/Kush-Bottles-to-Develop-Customized-Cannabis-Packaging-For-Future-Farm-Technologies-Product-and-Service-Offering-to-Support-Multi-State-Growth-Plan
VANCOUVER, BC, Feb. 06, 2018 (GLOBE NEWSWIRE) -- Kush Bottles (OTC:KSHB) a leading provider of packaging, supplies, vaporizers, accessories and branding solutions for the regulated cannabis industry, today announced it was selected by Future Farm Technologies Inc. (“Future Farm”) (CSE:FFT) (OTC:FFRMF) to develop a suite of customized packaging and comprehensive compliance solutions to support its expansion into new territories.
Future Farm is rapidly expanding its footprint in the cannabis and hemp sectors nationwide, with a focus on California, Massachusetts, Maine, Florida and Puerto Rico. Kush Bottles will support Future Farm’s expansion and offer branded packaging solutions to ensure Future Farm maintains compliance with state-level regulations at all times.
“As we move forward with our plans to develop a diversified portfolio of cannabis investments in several states, it is important that we stay on the right side of state laws at all times, while also building strong brands as we penetrate these markets for the first time,” comments Mr. William Gildea, CEO and Chairman of Future Farms. “Kush Bottles offers a comprehensive suite of high quality cannabis packaging, branding and compliance solutions all under one roof, and has a strong track record of working with fast-growing cannabis companies, making them the right partner for us as we implement our strategy to scale the business.”
“We are very excited to work with an innovative company like Future Farm Technologies,” Mr. Nick Kovacevich, CEO of Kush Bottles, comments. “Our business strategy is to participate in the growth of the emerging legal cannabis sector by partnering with leading players at every stage in the cannabis supply chain – from seed to sale. Our in-depth knowledge of local laws in every U.S. state makes us well-positioned to work with companies such as Future Farms that are looking to grow their business in more than one jurisdiction. We are excited by this opportunity to help the company grow its brands while staying compliant with state laws and regulations as it enters this exciting stage in its growth.”
To be added to the distribution list, please email ir@kushbottles.com with “Kush” in the subject line.
Forward-Looking Statements
This press release may include predictions, estimates or other information that might be considered forward-looking within the meaning of applicable securities laws. While these forward-looking statements represent our current judgments, they are subject to risks and uncertainties that could cause actual results to differ materially. You are cautioned not to place undue reliance on these forward-looking statements, which reflect our opinions only as of the date of this release. Please keep in mind that we are not obligating ourselves to revise or publicly release the results of any revision to these forward-looking statements in light of new information or future events. When used herein, words such as: “potential,” “look forward,” “believe,” “dedicated,” “building,” or variations of such words and similar expressions are intended to identify forward-looking statements. Factors that could cause actual results to differ materially from those contemplated in any forward-looking statements made by us herein are often discussed in filings we make with the United States Securities and Exchange Commission (SEC), available at: www.sec.gov, and on our website, at: www.kushbottles.com.
About Kush Bottles
Kush Bottles, Inc. (OTCQB: KSHB) is a dynamic sales platform that provides unique products and services for both businesses and consumers in the cannabis industry. Founded in 2010 as a packaging and supplies company for dispensaries and growers, Kush Bottles has sold more than 100 million units and now regularly services more than 5,000 legally operated medical and adult-use dispensaries, growers, and producers across North America, South America, and Europe. The company has facilities in the three largest U.S. cannabis markets and a local sales presence in every major U.S. cannabis market.
Kush Bottles aims to be the gold standard for responsible and compliant products and services in the cannabis industry. Kush Bottles has no direct involvement with the cannabis plant or any products that contain THC.
The company has been featured in media nationwide, including CNBC, Los Angeles Times, TheStreet.com, Entrepreneur, and business magazine Inc.
For more information, visit www.kushbottles.com or call (888)-920-5874.
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.
Kush Bottles to Develop Custom Packaging For Future Farm
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/02/06/Kush-Bottles-to-Develop-Customized-Cannabis-Packaging-For-Future-Farm-Technologies-Product-and-Service-Offering-to-Support-Multi-State-Growth-Plan
VANCOUVER, BC, Feb. 06, 2018 (GLOBE NEWSWIRE) -- Kush Bottles (OTC:KSHB) a leading provider of packaging, supplies, vaporizers, accessories and branding solutions for the regulated cannabis industry, today announced it was selected by Future Farm Technologies Inc. (“Future Farm”) (CSE:FFT) (OTC:FFRMF) to develop a suite of customized packaging and comprehensive compliance solutions to support its expansion into new territories.
Future Farm is rapidly expanding its footprint in the cannabis and hemp sectors nationwide, with a focus on California, Massachusetts, Maine, Florida and Puerto Rico. Kush Bottles will support Future Farm’s expansion and offer branded packaging solutions to ensure Future Farm maintains compliance with state-level regulations at all times.
“As we move forward with our plans to develop a diversified portfolio of cannabis investments in several states, it is important that we stay on the right side of state laws at all times, while also building strong brands as we penetrate these markets for the first time,” comments Mr. William Gildea, CEO and Chairman of Future Farms. “Kush Bottles offers a comprehensive suite of high quality cannabis packaging, branding and compliance solutions all under one roof, and has a strong track record of working with fast-growing cannabis companies, making them the right partner for us as we implement our strategy to scale the business.”
“We are very excited to work with an innovative company like Future Farm Technologies,” Mr. Nick Kovacevich, CEO of Kush Bottles, comments. “Our business strategy is to participate in the growth of the emerging legal cannabis sector by partnering with leading players at every stage in the cannabis supply chain – from seed to sale. Our in-depth knowledge of local laws in every U.S. state makes us well-positioned to work with companies such as Future Farms that are looking to grow their business in more than one jurisdiction. We are excited by this opportunity to help the company grow its brands while staying compliant with state laws and regulations as it enters this exciting stage in its growth.”
To be added to the distribution list, please email ir@kushbottles.com with “Kush” in the subject line.
Forward-Looking Statements
This press release may include predictions, estimates or other information that might be considered forward-looking within the meaning of applicable securities laws. While these forward-looking statements represent our current judgments, they are subject to risks and uncertainties that could cause actual results to differ materially. You are cautioned not to place undue reliance on these forward-looking statements, which reflect our opinions only as of the date of this release. Please keep in mind that we are not obligating ourselves to revise or publicly release the results of any revision to these forward-looking statements in light of new information or future events. When used herein, words such as: “potential,” “look forward,” “believe,” “dedicated,” “building,” or variations of such words and similar expressions are intended to identify forward-looking statements. Factors that could cause actual results to differ materially from those contemplated in any forward-looking statements made by us herein are often discussed in filings we make with the United States Securities and Exchange Commission (SEC), available at: www.sec.gov, and on our website, at: www.kushbottles.com.
About Kush Bottles
Kush Bottles, Inc. (OTCQB: KSHB) is a dynamic sales platform that provides unique products and services for both businesses and consumers in the cannabis industry. Founded in 2010 as a packaging and supplies company for dispensaries and growers, Kush Bottles has sold more than 100 million units and now regularly services more than 5,000 legally operated medical and adult-use dispensaries, growers, and producers across North America, South America, and Europe. The company has facilities in the three largest U.S. cannabis markets and a local sales presence in every major U.S. cannabis market.
Kush Bottles aims to be the gold standard for responsible and compliant products and services in the cannabis industry. Kush Bottles has no direct involvement with the cannabis plant or any products that contain THC.
The company has been featured in media nationwide, including CNBC, Los Angeles Times, TheStreet.com, Entrepreneur, and business magazine Inc.
For more information, visit www.kushbottles.com or call (888)-920-5874.
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.
Leafbuyer Surpasses January Business Goals with Double Digit Growth
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/02/06/LBUY-Leafbuyer-Surpasses-January-Business-Goals-with-Double-Digit-Growth
DENVER--(BUSINESS WIRE)--Leafbuyer Technologies, Inc. (OTC:LBUY) (“Leafbuyer”), a leading cannabis technology platform, announced today that it has exceeded its estimated January revenue goals.
Leafbuyer’s new business numbers grew nearly 30% month-over-month from December 2017. This comes after the company saw sales revenue growth of 25% from October 2017 to November 2017 and strong growth again in December.
As part of an aggressive expansion plan into new legal marijuana markets, the technology company doubled its sales headcount in October and hired a National Sales Director, John Valle. The company added new dispensary and product clients in California, Washington, Oregon, Michigan and Colorado.
Leafbuyer’s Chief Operating Officer, Mark Breen also attributes the momentum to expanded product offerings and the increased brand recognition in new markets. “Our products have expanded in the past few months to recognize market trends in consumer acquisition and loyalty. We are now starting to see the market response,” Breen stated. “We are focused on delivering the highest value through innovative technology solutions and industry leading client support.”
The company’s National Sales Director, John Valle added, “We base all of our products and services around client needs, strong market research and statistical data. By putting our customers first, developing new technology and offering a competitive price point, we are optimistic that we can continue to drive results.”
About Leafbuyer Technologies, Inc.:
Leafbuyer is one of the most comprehensive online sources for cannabis deals and information. Leafbuyer works alongside businesses to showcase their unique products and build a network of loyal patrons. Leafbuyer’s national network of cannabis deals and information reaches millions of consumers monthly. Leafbuyer is the official cannabis deals platform of thecannabist.co(owned by The Denver Post) and Voice Media Group.
Learn more at leafbuyer.com.
Aurora Cannabis and CanniMed Therapeutics File Offer Documents
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/02/06/Aurora-Cannabis-and-CanniMed-Therapeutics-File-Offer-Documents
EDMONTON and SASKATOON, Feb. 6, 2018 /CNW/ - Aurora Cannabis Inc. ("Aurora") (TSX:ACB) (OTC:ACBFF) (Frankfurt: 21P; WKN: A1C4WM) and CanniMed Therapeutics Inc. ("CanniMed") (TSX:CMED) today announced the filing of Aurora's Notice of Variation and CanniMed's Notice of Change to Directors' Circular (collectively the "Offer Documents") in connection with Aurora's improved offer to acquire all of the outstanding common shares of CanniMed ("CanniMed Shares") not already owned by Aurora or its affiliates, described under "Aurora's Notice of Variation" below (the "Improved Offer"). As previously announced by the parties on January 24, 2018, CanniMed's board of directors (the "CanniMed Board") is unanimously recommending that CanniMed's shareholders accept the Improved Offer.
Aurora's Notice of Variation
Pursuant to the terms of the Notice of Variation, Aurora has increased the consideration offered per CanniMed Share, at the election of each CanniMed shareholder, to: (a) 3.40 common shares ("Aurora Shares") of Aurora (the "Share Alternative"); (b) $43.00 in cash (subject to proration); (the "Cash Alternative"); or (c) any combination thereof (subject to proration of the cash portion), (the "Share and Cash Alternative").
The maximum amount of cash available under the Improved Offer is $140 million (the "Maximum Cash Consideration"), and the number of Aurora Shares to be issued will be between approximately 72 million (assuming full cash elections) and 84 million (assuming full share elections and no cash elections). CanniMed Shareholders should note that any cash elected to be received is valued (for purposes of determining the number of Aurora Shares to be received in addition to such cash) based on an implied Aurora Share price of $12.65, which may be more or less than the value of the share consideration at the time that the CanniMed Shares are taken-up under the Offer. CanniMed Shareholders are advised to consider recent market price quotations for Aurora Shares and to carefully review the Offer Documents before deciding whether to tender to the Improved Offer and before making their consideration elections.
The cash consideration of the Cash Alternative and the Share and Cash Alternative will be prorated, to ensure that the Maximum Cash Consideration payable is not exceeded. Assuming that all CanniMed Shareholders elect the Cash Alternative, each CanniMed Shareholder would receive $5.70 in cash and 2.9493 Aurora Shares for each CanniMed Share. The full details of the proration mechanisms are provided in Aurora's Notice of Variation.
The Improved Offer is open until 11:59 PM (Pacific Time) on March 9, 2018, subject to acceleration, extension or withdrawal by Aurora.
CanniMed Notice of Change to Directors' Circular
The CanniMed Board has filed a Notice of Change to Directors' Circular in connection with the Improved Offer. The CanniMed Board is unanimously recommending that CanniMed Shareholders accept the Improved Offer and tender their CanniMed Shares to the Improved Offer.
This decision follows a unanimous determination, made by the CanniMed Board and the special committee to the CanniMed Board (the "Special Committee") that, after consultation with their financial and legal advisors, the consideration under the Improved Offer is fair, from a financial point of view, to CanniMed Shareholders (other than Aurora and its affiliates) and that it would be in the best interests of CanniMed to support and facilitate the Improved Offer. The CanniMed Board's financial advisor, AltaCorp Capital Inc., and the financial advisor to the Special Committee, Cormark Securities Inc., have each provided opinions that, as of January 26, 2018, and subject to the assumptions, limitations and qualifications on which the opinions are based, the consideration to be received under the Improved Offer is fair, from a financial point of view, to CanniMed Shareholders other than Aurora and its affiliates.
Initial Deposit Period
In connection with the filing of the Offer Documents, the CanniMed Board has reduced the initial deposit period (being the minimum amount of time the Improved Offer must be open for acceptance before Aurora can begin taking up shares under the Improved Offer) to 84 days from the commencement of the offer on November 24, 2017. This means that commencing on the later of February 16, 2018 and the date all of the conditions to the Improved Offer have been satisfied or waived, Aurora will be able to take up CanniMed Shares under the Improved Offer. This news release is a considered a "deposit period news release" for the purposes of National Instrument 62-104 "Take-over Bids and Issuer Bids".
Lock – Up Agreements
Aurora entered into lock-up agreements (the "Original Lock-Up Agreements") on November 12, 2017 with Saskworks Venture Fund Inc., Golden Opportunities Fund Inc., Apex Investment Limited Partnership and Vantage Asset Management Inc. (the "Original Locked-Up Shareholders") to support the Original Offer (and the Improved Offer). The CanniMed Shares to be tendered pursuant to the Original Lock-Up Agreements represent approximately 36% of the issued and outstanding CanniMed Shares on a fully diluted basis.
In addition to the Original Locked-Up Shareholders, certain CanniMed directors and officers holding approximately 12% of the issued and outstanding CanniMed Shares, including Brent Zettl, Chief Executive Officer, have agreed to support the Improved Offer and have entered to into lock-up agreements in respect of the same (the "New Lock-Up Agreements").
Altogether, under the Original Lock-Up Agreements and the New Lock-Up Agreements, shareholders holding approximately 48% of the issued and outstanding CanniMed Shares have agreed to tender to the Improved Offer. In addition, Aurora owns 700,600 CanniMed Shares, representing approximately 2.87% of the issued and outstanding CanniMed Shares, which are not the subject of the Improved Offer.
About the Improved Offer
The full details of the Improved Offer are set out in the Offer Documents, which have been filed with the Canadian securities regulatory authorities and are being mailed to CanniMed Shareholders. The Offering Documents will also be available on SEDAR under CanniMed's profile at www.sedar.com. Upon filing of the Offering Documents, the Improved Offer will be open for no fewer than 10 days and, following any take up of CanniMed Shares, Aurora will then further extend its offer for at least an additional 10 days in order to allow any remaining CanniMed Shareholders to tender to the Improved Offer. Aurora's obligation to take-up CanniMed Shares under the Improved Offer is subject to the conditions set out in the Notice of Variation, including, but not limited to, receipt of approval under the Canadian Competition Act.
Materials filed with the Canadian securities regulatory authorities are available electronically without charge at www.sedar.com. Materials filed with the SEC are available electronically without charge on EDGAR accessible through the SEC's website at www.sec.gov. Documents related to the original offer and the Improved Offer, including the Offer Documents, are also available on Aurora's website at www.auroramj.com, and shareholders are invited to visit cannimed.auroramj.com for further information.
How to Tender
CanniMed Shareholders who wish to accept the Improved Offer must properly follow the procedures outlined in the Notice of Variation and accompanying Amended Letter of Transmittal.
For assistance in depositing CanniMed Shares pursuant to the Improved Offer, CanniMed Shareholders should contact the Depository and Information Agent Laurel Hill at Phone: 1-877-452-7184 (North American Toll Free Phone) and 1-416-304-0211 (Outside North America); Facsimile: 416-646-2415; and E-mail: assistance@laurelhill.com.
About 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 production facility in Mountain View County, Alberta, known as "Aurora Mountain", a 40,000 square foot production facility known as "Aurora Vie" in Pointe-Claire, Quebec, and an 800,000 square foot production facility, known as "Aurora Sky", at the Edmonton International Airport. Aurora is also completing a fourth facility of 48,000 square feet in Lachute, Quebec, and will shortly begin construction on a 1,000,000 square foot production facility in Odense, Denmark, to be known as "Aurora Nordic", via a joint venture with Alfred Pedersen & Søn ApS.
Aurora also owns Berlin-based Pedanios GmbH, the leading wholesale importer, exporter, and distributor of medical cannabis in the European Union. Aurora offers further differentiation through its wholly owned subsidiaries 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.
In addition, Aurora holds approximately 17.23% of the issued shares in leading extraction technology company Radient Technologies Inc., and has a strategic investment in Hempco Food and Fiber Inc., with options to increase ownership stake to over 50%. Aurora is also the cornerstone investor in two other licensed producers, with a 22.9% stake in Cann Group Limited, the first Australian company licensed to conduct research on and cultivate medical cannabis, and a 17.62% stake in Canadian producer The Green Organic Dutchman Ltd., with options to increase to majority ownership.
Aurora's common shares trade on the TSX under the symbol "ACB".
About CanniMed
CanniMed is a Canadian-based, international plant biopharmaceutical company and a leader in the Canadian medical cannabis industry, with 17 years of pharmaceutical cannabis cultivation experience, state-of-the-art, GMP-compliant production process and world class research and development platforms with a wide range of pharmaceutical-grade cannabis products. In addition, CanniMed has an active plant biotechnology research and product development program focused on the production of plant-based materials for pharmaceutical, agricultural and environmental applications.
CanniMed, through its subsidiaries, was the first producer to be licensed under the Marihuana for Medical Purposes Regulations, the predecessor to the current Access to Cannabis for Medical Purposes Regulations. It was the sole supplier to Health Canada under the former medical marijuana system for 13 years, and has been producing safe and consistent medical marijuana for thousands of Canadian patients, with no incident of product diversion or recalls.
For more information, please visit our websites: www.cannimed.ca (patients) and www.cannimedtherapeutics.com (investors).
On behalf of the Boards of Directors,
AURORA CANNABIS INC. CanniMed Therapeutics Inc
Terry Booth Brent Zettl
CEO CEO
Forward-Looking Information Cautionary Statement
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 the Improved Offer, the anticipated value of the Improved Offer, the number of shares to be issued and timing to complete the Improved Offer. 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 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 CanniMed is under any 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 either Aurora or CanniMed is in their Annual Information Forms 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.
Notice to U.S. Holders
The Offer is made for the securities of a company formed outside of the United States. The Offer will be subject to disclosure requirements of Canada that are different from those of the United States. Financial statements included in the documents, if any, will be prepared in accordance with Canadian accounting standards and may not be comparable to the financial statements of United States companies.
It may be difficult for a securityholder in the United States to enforce his/her/its rights and any claim a securityholder may have arising under the U.S. federal securities laws, since the issuer is located in Canada, and some or all of its officers or directors may be residents of Canada or another country outside of the United States. A securityholder may not be able to sue a Canadian company or its officers or directors in a court in Canada or elsewhere outside of the United Statesfor violations of U.S. securities laws. It may be difficult to compel a Canadian company and its affiliates to subject themselves to a U.S. court's judgment.
Securityholders should be aware that the issuer may purchase securities otherwise than under the Offer, such as in open market or privately negotiated purchases.
Isodiol Receives Brazilian Regulatory Approval for Isodiolex'
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/02/05/Isodiol-Receives-Brazilian-Regulatory-Approval-for-Isodiolex
VANCOUVER, British Columbia, Feb. 05, 2018 (GLOBE NEWSWIRE) -- Isodiol International Inc. (CSE:ISOL) (OTC:ISOLF) (FSE:LB6A.F) (the “Company” or “Isodiol”), a global Bioactive Phytoceutical innovator specializing in the development of pharmaceutical and wellness products, announced today that it has received approval from the Brazilian Health Regulatory Agency (ANVISA) This product will be placed on the Special Category List for alternative therapies which will enable it to be prescribed by doctors and neurologists. This is now the Company’s second product to receive medical approval by the ANVISA.
“We have been working towards additional products for the Brazilian medical community and for the last several months, so to have our second product medically approved by ANVISA is a tremendous breakthrough for the company,” said CEO of Isodiol, Marcos Agramont. “We have been working with neurologists and medical practitioners to offer an alternative delivery method of cannabidiol and Isodiolex is the perfect solution for this. Overall, we will continue to be proactive in increasing our global footprint, especially where cannabinol is medically approved, affording us the opportunity to truly show how cannabinol is beneficial for the human body.”
Additional information around Isodiolex will be provided in the coming weeks.
For more information on Isodiol, please visit www.isodiol.com
About Isodiol International Inc.
Isodiol International Inc. is the market leader in pharmaceutical grade phytochemical compounds and the industry leader in the manufacturing and development of phytoceutical consumer products.
Isodiol is the pioneer of many firsts for the cannabis industry including commercialization of 99%+ pure, bioactive pharmaceutical grade cannabinoids, micro-encapsulations, and nanotechnology for the highest quality consumable and topical skin care products.
Isodiol's growth strategy includes the development of over-the-counter and pharmaceutical drugs, expanding its phytoceutical portfolio and will aggressively continue international expansion into Latin America, Asia and Europe.
Join Us On Facebook: https://www.facebook.com/isodiol/
Twitter: @isodiol
ON BEHALF OF THE BOARD
Marcos Agramont, CEO & Director
INVESTOR RELATIONS:
Ir@isodiol.com
www.isodiol.com
Forward-Looking Information: This news release contains "forward-looking information" within the meaning of applicable securities laws relating to statements regarding the Company's business, products and future the Company’s business, its product offerings and plans for sales and marketing. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned to not place undue reliance on forward-looking information. Such forward looking statements are subject to risks and uncertainties that may cause actual results, performance and developments to differ materially from those contemplated by these statements depending on, among other things, the risks that the Company's products and plan will vary from those stated in this news release and the Company may not be able to carry out its business plans as expected. Except as required by law, the Company expressly disclaims any obligation, and does not intend, to update any forward-looking statements or forward-looking information in this news release. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct and makes no reference to profitability based on sales reported. The statements in this news release are made as of the date of this release.
The CSE has not reviewed, approved or disapproved the content of this press release.
GB Sciences Files Nonprovisional Patent for Anti-Inflammatory Therapies
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/02/05/GBLX-GB-Sciences-Files-Nonprovisional-Patent-for-Anti-Inflammatory-Therapies
LAS VEGAS, Feb. 5, 2018 /PRNewswire/ -- GB Sciences, Inc. (OTC:GBLX) has filed a nonprovisional patent application to protect its cannabinoid-containing complex mixtures for the treatment of inflammatory disorders. The new patent application claims the benefit of GB Sciences' provisional patent previously filed on February 1, 2017; plus, additional data describing their mechanism of action and further supporting their claims. Inflammatory disorders, such as arthritis, asthma, eczema, psoriasis, Crohn's disease and Inflammatory Bowel Disease, represent a serious health burden in the US with over $200 billion spent annually. New cannabis-based therapies could significantly help both patients and society.
"Filing this nonprovisional patent signifies our passage to the next phase in the development of these cannabis-based anti-inflammatory compounds, which have the potential to alleviate patient suffering," explains Dr. Andrea Small Howard, Chief Science Officer of GB Sciences, Inc. "We look forward to commercializing the multiple disease-specific anti-inflammatory formulations in this patent application through different channels; including one potential pharmaceutical formulation that may be applied to an orphan indication and another with a nutraceutical-compliant formulation. GB Sciences also plans to develop a series of distinct anti-inflammatory formulations for sale in cannabis dispensaries. Development through different regulatory pathways and sales channels allows us to get some of these therapies to patients quicker and to implement a diversified sales strategy."
"GB Sciences is committed to developing products that improve peoples' lives and new anti-inflammatory products are needed as these conditions increase in prevalence," said John Poss, CEO and Chairman of GB Sciences, Inc. "Providing our patients with cannabis-based products that are designed for dispensary sales will benefit patients in the near term."
About GB Sciences, Inc.
GB Sciences, Inc. (OTCQB: GBLX) is a diverse cannabis company, focused on standardized cultivation and production methods; as well as biopharmaceutical research and development. The Company's goal is creating safe, standardized, pharmaceutical-grade, cannabinoid therapies that target a variety of medical conditions. To learn more about GB Sciences, Inc., go to: http://gbsciences.com.
Forward-Looking Statements
This press release may contain statements relating to future results or events, which are forward-looking statements. Words such as "expects", "intends", "plans", "may", "could", "should", "anticipates", "likely", "believes" and words of similar import may identify forward-looking statements. These statements are not historical facts, but instead represent only the Company's belief regarding future events, many of which, by their nature, are inherently uncertain and outside of the Company's control. It is possible that the Company's actual results and financial condition may differ, possibly materially, from the anticipated results and financial condition indicated in these forward-looking statements. Further, information concerning the Company and its business, including factors that potentially could materially affect the Company's business and financial and other results, are contained in the Company's filings with the Securities and Exchange Commission, available at www.sec.gov. All forward-looking statements included in this press release are made only as of the date of this press release, and we do not undertake any obligation to publicly update or correct any forward-looking statements to reflect events or circumstances that subsequently occur or of which we hereafter become aware.
Note: Although the Company's research and development activities are not illegal, the production and sale of cannabis products violate federal laws as they presently exist.
Aphria Begins Divesting Equity Investments in Passive US Assets
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/02/05/Aphria-Begins-Divesting-Equity-Investments-in-Passive-US-Assets
LEAMINGTON, ON, Feb. 5, 2018 /CNW/ - Aphria Inc. ("Aphria" or the "Company") (TSX:APH) (OTC:APHQF) today announced that it entered into a purchase and sale agreement to sell 26,716,025 shares representing all its shares in Liberty Health Sciences Inc.. ("Liberty") that are not subject to Canadian Securities Exchange ("CSE") escrow requirements (the "Transaction"). Each of Michael Serruya, Simon Serruya and Jack Serruya are purchasing 80% of all transferred shares from Aphria individually or through an affiliate. The remaining 20% is being purchased by an affiliate of Delavaco Capital. The Transaction also includes a call / put option ("Option Agreement") for the remainder of the Company's shares, which are currently subject to the CSE mandatory escrow requirements. Of the total divested shares, 80% are being purchased by individual members of the Serruya family, directly or through their affiliates, and 20% are being purchased by affiliates of Delavaco Capital owned and/or controlled by Catherine DeFrancesco. Each purchaser will also sign a promissory note, together with a guarantee which guarantees such purchaser's obligations under their promissory note and the obligations of such purchaser upon the exercise of the applicable call or put option, as the case may be, under the Option Agreement. The Transaction remains subject to receipt of all required approvals from the Florida Department of Health ("DOH") Office of Medical Marijuana Use and the purchasers being approved through the DOH's Level 2 screening process.
"The sale of a portion of our investment in Liberty Health Sciences provides excellent returns for our investors and we are committed to continue to work together with the Toronto Stock Exchange to ensure compliance with its staff notice regarding US cannabis investments", said Vic Neufeld, Chief Executive Officer of Aphria. "While I continue to believe there is tremendous opportunity in the U.S. for medical cannabis, the sale of these shares serve the best interests of our shareholders and provide additional and important capital to fund Aphria's continued growth in Canada and expand into other federally legal international markets."
After the Transaction, Aphria retains an ownership position of 28.1% of the issued and outstanding shares of Liberty. In addition, Vic Neufeld and John Cervini, of Aphria, remain on Liberty's board of directors, with Mr. Neufeld remaining as the Chair of the Board. As part of the Transaction, Liberty retains the right to continued use of Aphria's trademarks and perserves its interest in the Aphria Know-How System.
"Liberty remains very well positioned to capitalize on opportunities in the U.S. medical cannabis industry and Aphria has received excellent value for its investment in this growing company," said Neufeld. "Liberty's success is a testament to its hard work and strong management team and we look forward to watching their continued success as they forge ahead with their growth plans in the U.S."
An independent special committee (the "Aphria Committee") of the board of directors of Aphria (the "Aphria Board") received a fairness opinion from Cormark Securities Inc., independent financial advisors to Aphria, that as of February 4, 2018, and subject to the assumptions, limitations and qualifications on which such opinions are based, the Transaction is fair from a financial point of view. The Aphria Committee unanimously recommended the approval of the Transaction to the Aphria Board. Subsequently, the Transaction and the entering into of the purchase and sale agreement and other transaction agreements were unanimously approved by the eligible directors of the Aphria Board.
Transaction Details
The Company divested 26,716,025 shares in Liberty, at a price of $1.25 per share, a discount of approximately 12% to the market close on Friday, in exchange for short-term notes for $33,395,031. The short-term notes are non-interest bearing and due on February 26, 2018. As security for the notes, each of the buyers provided the Company a guarantee.
The Transaction also includes a call / put option for the remainder of the Company's shares, which are currently subject to the CSE mandatory escrow requirements. As each new tranche of shares becomes freely trading, the Option Agreement results in the buyers acquiring the newly freely trading shares at an 18% discount to the market price of Liberty, based on Liberty's 10 day volume weighted trading price. As security for the Option Agreement, each of the buyers provided the Company a guarantee.
The Transaction includes an opt-out for Aphria's benefit in the event that the Toronto Stock Exchange ("TSX") amends their regulations such that it permits U.S. based cannabis investments and in such instance the Option Agreement would be automatically terminated. In exchange for the opt-out, the Company agrees to pay the buyers, on a pro rated basis, a $2.5 million termination fee.
The cost to Aphria of the divested shares was $0.234 per share, resulting in a gain to Aphria of approximately $27 million.
The Company continues to work collaboratively with the TSX with respect to their staff notices regarding its investments in U.S. based medical cannabis related entities.
We Have a Good Thing Growing.
About Aphria
Aphria Inc., one of Canada's lowest cost producers, produces, supplies and sells medical cannabis. Located in Leamington, Ontario, the greenhouse capital of Canada. Aphria is truly powered by sunlight, allowing for the most natural growing conditions available. We are committed to providing pharma-grade medical cannabis, superior patient care while balancing patient economics and returns to shareholders.
For more information, visit www.aphria.com.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "potential", "believe", "intend" or the negative of these terms and similar expressions. Forward-looking statements in this news release include, expectations related to the closing of the Transaction, the Call/Put or the guarantees from the individual buyers . Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; marketing costs; loss of markets; future legislative and regulatory developments involving medical cannabis or adult use of cannabis; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the medical cannabis industry in Canada or the United States generally, income tax and regulatory matters; the ability of Aphria to implement its business strategies; competition; crop failure; currency and interest rate fluctuations and other risks.
Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
Cronos Announces Launch of Cronos Australia with Grant of Two Licenses
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/02/05/MJN-PRMCF-Cronos-Announces-Launch-of-Cronos-Australia-with-Grant-of-Two-Licenses
TORONTO, Feb. 5, 2018 /CNW/ - Cronos Group Inc. (TSX:MJN) (OTC:PRMCF) (the "Group" or the "Company") is pleased to announce the launch of Cronos Australia Pty Ltd. ("Cronos Australia") and the grant of medicinal cannabis cultivation and research licenses.
"The launch of Cronos Australia as our newest international hub marks an important milestone for the Company. Cronos is focused on providing pharmaceutical grade medicine to patients in need, and we are excited that our Australian team shares this vision and commitment," says Mike Gorenstein, CEO of Cronos Group.
Cronos Australia is a 50/50 joint venture between the Group and NewSouthern Capital Pty Ltd, led by Mr. Rodney Cocks and Mr. Peter Righetti. Cronos Australia will serve as the Group's hub for Australia, New Zealand, and South East Asia, bolstering the Group's import/export supply capabilities and distribution network. Cronos Australia will leverage the Group's intellectual property and iconic brands to deliver premium cannabinoid based products to Australasia.
Rodney Cocks, Chief Executive Officer & Director
Before founding Cronos Australia, Rodney was a consultant with The Boston Consulting Group, later taking up a senior role at an Australian multinational before co-founding NewSouthern Capital. He heads up the capital raising and portfolio company teams at NewSouthern, and sits on the investment, audit and risk committee for the company. As a graduate of the Royal Military College, Duntroon, Rodney commenced his career as an Australian Army infantry officer and was also a senior member of the UK Government's Counter Narcotics team at The British Embassy in Kabul, which was responsible for targeting the massive opium and cannabis cultivation and trafficking issue in Afghanistan. Rodney holds a Bachelor of Commerce, Bachelor of Laws, MBA (Wharton, University of Pennsylvania), and an MPA (Harvard University). He is an admitted lawyer to the Supreme Court of New South Wales, a Graduate of the Australian Institute of Company Directors, and an Authorised Representative under an Australian Financial Services License. Rodney was also named the Victorian Australian of the Year in 2005.
"We are extremely pleased to announce that Cronos Australia has secured both a medicinal cannabis license and a cannabis research license, paving the way for us to research, cultivate, and produce premium cannabinoid-based products for Australian patients," says Mr. Cocks.
Peter Righetti, Chief Operating Officer & Director
Prior to establishing Cronos Australia, Peter worked for more than 20 years in residential and commercial property, providing strategic-level expertise in the fields of development acquisition, planning, construction/project management, project financing, and marketing. Peter heads up the investment and property teams at NewSouthern Capital and sits on the risk, audit, and investment committees for NewSouthern. In line with NewSouthern's commitment to the creation, protection, and growth of investor wealth, Peter will assume a pivotal role in the establishment and ongoing operations of Cronos Australia. Peter is a graduate of Royal Military College, Duntroon, and served as an Army Officer in the Royal Australian Corps of Engineers. He has held senior leadership and executive positions in private and publicly listed Australian companies. Peter holds a Bachelor of Commerce and a Bachelor of Laws. He is admitted as a barrister and solicitor of the Supreme Court of Victoria.
"Cronos Australia will continue to leverage the Group's intellectual property to ensure that we deliver the highest quality medicinal cannabis products to the Australasia region," says Mr. Righetti.
Cronos Australia's first production campus will be located on 120 acres and will commence construction on the initial phase of its production platform with a 20,000 sq. ft. purpose-built facility (the "Initial Facility"), with an expected annual production capacity of 2,000KG. Cronos Australia is currently working with the Group on designing a significant capacity expansion beyond the Initial Facility. In the interim, the Group intends to make available supply of Peace Naturals' premium medicinal cannabis to support Australian patient access, subject to obtaining its import license. The Initial Facility has been designed to meet the Group's best-in-class quality standards, including Good Production Practices and Good Manufacturing Practices (GMP). The Group's expertise operating under these guidelines is expected to ensure that all quality controls across the Group's international platforms are consistent with the highest manufacturing standards.
The operations of Cronos Australia are subject to approval of the TSX Venture Exchange.
Conference Call
A conference call to discuss Cronos Australia will be held at 8:45 am (EST) on Monday, February 5, 2018. The call will be open to the public and instructions for the conference call are provided below:
Conference ID: 6999547
Topic: Launch of Cronos Australia
Toll-free dial-in number: (888) 231-8191
International dial-in number: (647) 427-7450
Additionally, an audio replay of the conference call will be available two hours after the call's completion. Instructions for the audio replay are provided below:
Toll-free dial-in number: (855) 859-2056
Passcode: 6999547
About Cronos Group
Cronos Group is a globally diversified and vertically integrated cannabis company with a presence across four continents. The Company operates two wholly-owned Canadian Licensed Producers regulated under Health Canada's Access to Cannabis for Medical Purposes Regulations: Peace Naturals Project Inc. (Ontario), which was the first non-incumbent medical cannabis license granted by Health Canada, and Original BC Ltd. (British Columbia), which is based in the Okanagan Valley. The Company has multiple international production and distribution platforms: Cronos Israel and Cronos Australia. Through an exclusive distribution agreement, Cronos also has access to over 12,000 pharmacies in Germany as the Company focuses on building an international iconic brand portfolio and developing disruptive intellectual property.
Forward-looking statements
This news release may contain "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian securities legislation. All information contained herein that is not clearly historical in nature may constitute forward-looking information and includes, but is not limited to, information relating to the future growth and prospects of the Company. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive risks, uncertainties and contingencies that may cause actual financial results, performance or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. Accordingly, readers should not place undue reliance on any forward-looking statements or information. A discussion of certain of the material risks applicable to the Company can be found in the Company's most recent MD&A and Annual Information Form, which can be accessed at www.sedar.com. Except as required by law, the Company disclaims any obligation to update or revise any forward-looking statements. Readers are cautioned not to put undue reliance on these forward-looking statements.
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.
Aurora Invests in Liquor Stores N.A. to Develop Canadian Retail Business
SOURCE: EDMONTON, Alberta, Feb. 05, 2018 (GLOBE NEWSWIRE) -- Aurora Cannabis Inc. ("Aurora") (TSX:ACB) and Liquor Stores N.A. Ltd. ("Liquor Stores") (TSX:LIQ) (collectively, the "Corporations") announced today that Aurora has agreed to make a strategic investment in Liquor Stores by way of a non-brokered private placement (the "Private Placement").
The Private Placement has been structured in two phases, with an Initial Investment made by Aurora (described further below) of $103.5 million for an approximate 19.9% ownership interest in Liquor Stores, with an Additional Investment (also described further below) that could bring Aurora's interest in Liquor Stores up to approximately 40%.
Liquor Stores intends to use the net proceeds from the Private Placement to establish and launch a leading brand of cannabis retail outlets, whereby it will convert some number of Liquor Stores' existing retail outlets into cannabis retail outlets and establish new cannabis retail outlets. Liquor Stores will also use a portion of the proceeds to continue to strengthen its existing liquor retail brands by renovating existing liquor store outlets, and also for general corporate purposes.
Together, the Corporations believe the benefits of the Private Placement are significant for all shareholders. Aurora's brand leadership, quality products, customer care, innovation and deep product knowledge will be a strong complement to Liquor Stores' well-established distribution network, best practices in the retail of adult use controlled products, commitment to regulatory compliance, and deep talent pool with over 2,000 retail employees. The Corporations therefore believe that the Private Placement will position Liquor Stores to establish a leading retail brand in the cannabis sector, which is anticipated to be one of the strongest growth markets in Canada's retail sector.
"The Private Placement with Liquor Stores is transformational in scale and scope for Aurora, Liquor Stores and the cannabis industry in Canada, providing the opportunity for our companies to establish a leading private retail footprint in Western Canada," said Terry Booth, CEO of Aurora. "This is an extremely significant step in our corporate development, as we prepare with our partners at Liquor Stores to bring the Aurora Standard in product quality, customer care and strategy execution to the pending legal consumer cannabis market."
"We are thrilled that our two great Alberta-based companies have joined forces and we are honoured that Aurora has selected Liquor Stores, through its investment, as the retailer poised to establish a leading cannabis brand in Western Canada," said James Burns, CEO of Liquor Stores.
Terms of the Private Placement – Initial Investment
Aurora will make an initial $103.5 million investment in Liquor Stores by subscribing for 6.9 million common shares (the "Shares") at a price of $15.00 per Share (the "Initial Investment"). Upon completion of the Initial Investment, Aurora will own approximately 19.9% of the Shares (on a non-diluted basis). The Initial Investment will not require approval of Liquor Stores' shareholders and is expected to close on or about February 14, 2018. The subscription price of $15.00 per Share represents a 24% premium to the five-day volume weighted average trading price of the Common Shares on the Toronto Stock Exchange (the "TSX") as of February 2, 2018.
Additional Investment
In addition, Aurora will subscribe for 2.3 million subscription receipts of Liquor Stores (the "Subscription Receipts") at a price of $15.00 per Subscription Receipt for aggregate proceeds of $34.5 million. Upon receiving approval from Liquor Stores' shareholders (other than Aurora) at its next annual general meeting and the satisfaction of the other escrow release conditions, the proceeds from the sale of Subscription Receipts will be released to Liquor Stores and Aurora will increase its ownership of Shares to approximately 25% (on a non-diluted basis).
Liquor Stores will also issue to Aurora, for no additional consideration, two classes of Share purchase warrants: (1) 10,130,000 warrants at an exercise price of $15.75 per Share to allow Aurora to increase its pro rata equity interest in Liquor Stores to 40% on a fully diluted basis (the "Sunshine Warrants"); and (2) up to 1,750,000 warrants exercisable by Aurora at an exercise price of $15.00 upon any conversion of any of the outstanding 4.70% convertible unsecured subordinated debentures of Liquor Stores to allow Aurora to maintain its pro rata equity interest in Liquor Stores (the "Pro Rata Warrants", and together with the Subscription Receipts and the Sunshine Warrants, the "Additional Investment"). The exercise of each of the Sunshine Warrants and the Pro Rata Warrants will be conditional upon the approval of Liquor Stores shareholders (other than Aurora and its associates or affiliates) at the next annual general meeting of Liquor Stores.
The TSX has conditionally approved the listing of the Shares issuable pursuant to the Initial Investment and the issuance of the Subscription Receipts, Sunshine Warrants and Pro Rata Warrants pursuant to the Additional Investment. The TSX's conditional approval is subject to a number of conditions, including shareholder approval of the Additional Investment as a result of its material effect on control and dilution.
The Private Placement is subject to customary closing conditions, including the final approval of the TSX and is not subject to any financing or due diligence conditions. Completion of the Additional Investment will also be subject to the receipt of required approvals under the Competition Act (Canada).
None of the Subscription Receipts, Sunshine Warrants nor the Pro Rata Warrants will be transferable by Aurora and will not be listed for trading on the TSX. If approved by the Liquor Stores' shareholders, it is anticipated that the Additional Investment by Aurora would close shortly after the required shareholders' meeting.
The Shares, Subscription Receipts, Sunshine Warrants and the Pro Rata Warrants will each be subject to a hold period that will expire four months and one day after the closing of the Private Placement. The parties have agreed that the Shares issued pursuant to the Private Placement as well as any Shares issuable pursuant to the conversion of the Subscription Receipts or the exercise of the Sunshine Warrants or the Pro Rata Warrants will be subject to a contractual escrow of twelve (12) months from the closing date of the Private Placement. The Shares will not be registered in the United States.
Other Material Agreements
The Corporations have also entered into an Investor Rights Agreement pursuant to which: (i) Aurora shall be entitled to participate in future equity offerings of Liquor Stores in order to maintain its pro rata equity interest in Liquor Stores; (ii) Aurora shall have the right to nominate one (1) director for election to the board of directors of Liquor Stores following the completion of the Initial Investment (and subject to it maintaining an equity ownership of at least 10% in Liquor Stores) and shall have the right to nominate a second director if it increases its equity ownership of Liquor Stores to 33 1/3% or more; (iii) Aurora shall, in certain circumstances, be granted demand and piggy-back registration rights; (iv) Aurora has agreed to a 12 month standstill from the closing date of the Initial Investment and a 12 month restriction on any dispositions of the securities acquired pursuant to the Private Placement; and (v) the Corporations have agreed to take certain actions in furtherance of the development of a retail cannabis business together with limitations on certain transactions that Liquor Stores can undertake until the shareholder meeting.
Liquor Stores Board Recommendation
The board of directors of Liquor Stores (the "Board") appointed a special committee of independent directors comprised of Ms. Karen Prentice (chair), John Barnett and Derek Burney (the "Independent Committee") to review and approve the Private Placement. The Independent Committee, together with its legal and financial advisors, has determined that the Private Placement is in the best interests of Liquor Stores and recommended its approval to the Board. The Board, after considering, among other things, the report and recommendation of the Independent Committee, approved the Private Placement and recommends that shareholders vote in favour of the Additional Investment.
Advisors
Eight Capital acted as Aurora's exclusive financial advisor in connection with the Private Placement. The Independent Committee obtained a fairness opinion dated as of February 4, 2018 from its financial advisor, Paradigm Capital Inc., that, based upon and subject to the limitations and qualifications therein, the terms of the Private Placement are fair, from a financial point of view, to Liquor Stores.
About Aurora Cannabis Inc.
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 production facility in Mountain View County, Alberta, known as "Aurora Mountain", a 40,000 square foot production facility known as "Aurora Vie" in Pointe-Claire, Quebec, and an 800,000 square foot production facility, known as "Aurora Sky", at the Edmonton International Airport. Aurora is also completing a fourth facility of 48,000 square feet in Lachute, Quebec, and will shortly begin construction on a 1,000,000 square foot production facility in Odense, Denmark, to be known as "Aurora Nordic", via a joint venture with Alfred Pedersen & Søn ApS.
Aurora also owns Berlin-based Pedanios GmbH, the leading wholesale importer, exporter, and distributor of medical cannabis in the European Union. The Company offers further differentiation through its wholly owned subsidiaries 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.
In addition, the Company holds approximately 17.23% of the issued shares in leading extraction technology company Radient Technologies Inc., and has a strategic investment in Hempco Food and Fiber Inc., with options to increase ownership stake to over 50%. Aurora is also the cornerstone investor in two other licensed producers, with a 22.9% stake in Cann Group Limited, the first Australian company licensed to conduct research on and cultivate medical cannabis, and a 17.62% stake in Canadian producer The Green Organic Dutchman Ltd., with options to increase to majority ownership.
Aurora's common shares trade on the TSX under the symbol "ACB".
About Liquor Stores N.A. Ltd.
Liquor Stores operates 231 retail liquor stores. Liquor Stores' common shares and convertible subordinated debentures trade on the Toronto Stock Exchange under the symbols "LIQ" and "LIQ.DB.B", respectively.
Additional information about Liquor Stores N.A. Ltd. is available at www.sedar.com and its website at www.liquorstoresna.ca.
For further information
For Aurora Cannabis
Cam Battley
Chief Corporate Officer
+1.905.864.5525
cam@auroramj.com
www.auroramj.com
Marc Lakmaaker
Director, Investor Relations and
Corporate Development
+1.647.269.5523
marc.lakmaaker@auroramj.com
For Liquor Stores N.A.
Matthew Rudd
Senior Vice President and Chief Financial Officer
Liquor Stores N.A. Ltd.
+1.780.702.7389
www.liquorstoresna.ca
Forward-Looking Statements
This press release contains information that constitutes "forward-looking information" or "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities legislation. The use of any of the words "believe", "continue", "create", "deliver", "expect", "provide", "will" and similar expressions are intended to identify forward-looking information. Forward-looking information includes statements concerning: the use of the net proceeds from the Private Placement; the anticipated benefits of the Private Placement to Liquor Stores, Aurora and their respective shareholders, including Liquor Stores' ability to establish a retail cannabis business; the anticipated growth of a cannabis retail business in Canada and anticipated market share; regulatory risks, including risks related to the ability of, and expected timing for, Liquor Stores' and Aurora's participation in the retail adult use market for cannabis in Canada; the timing and anticipated receipt of required government, regulatory and shareholder approvals for the Private Placement; the ability of Liquor Stores and Aurora to satisfy the other conditions to, and to complete, the Private Placement; and the timing of the annual general meeting of the shareholders of Liquor Stores and the closing of the Private Placement.
In respect of the forward-looking statements and information concerning the anticipated completion and benefits of the proposed Private Placement and the anticipated timing for completion of the Private Placement, Liquor Stores and Aurora have provided such in reliance on certain assumptions that they believe are reasonable at this time, including assumptions as to the implementation of legislation and a regulatory regime in respect of cannabis that will permit Liquor Stores to establish a retail cannabis business; that under applicable laws or rules in respect of cannabis Aurora and its affiliates will be permitted to own securities of Liquor Stores and take certain actions with Liquor Stores in furtherance of the development of a retail cannabis business together; the time required to prepare and mail Liquor Stores shareholder meeting materials, including the required information circular; the ability of the parties to receive, in a timely manner, the required government, regulatory, shareholder and other third party approvals required to complete the Private Placement and participate in the retail adult use market for cannabis in Canada; the assets and employees of Liquor Stores and Aurora; the plans of Liquor Stores to establish cannabis retail outlets; and the ability of the parties to satisfy, in a timely manner, the other conditions to the closing of the Private Placement. Dates may change for a number of reasons, including unforeseen delays in preparing meeting materials, inability to secure necessary government, regulatory, shareholder or other third party approvals in the time assumed or the need for additional time to satisfy the other conditions to the completion of the Private Placement. In general, actual outcomes may vary from the forward-looking information contained in this press release. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release.
Since forward-looking information addresses future events and conditions, by its very nature it involves inherent risks and uncertainties. Risks and uncertainties inherent in the Private Placement include, but are not limited to, the failure of Liquor Stores or Aurora to obtain necessary government, regulatory, shareholder and other third party approvals, or to otherwise satisfy the conditions to complete the Private Placement and participate in the retail adult use market for cannabis in Canada, in a timely manner, or at all; and the failure to successfully execute the plans regarding a retail cannabis business. The failure to obtain approvals, or the failure of Liquor Stores or Aurora to otherwise satisfy the conditions to the Private Placement, may result in the Private Placement not being completed on the proposed terms, or at all.
Readers are cautioned that the foregoing list of risk factors is not exhaustive. Additional information on other factors that could affect the operations or financial results of Liquor Stores and Aurora are included in reports on file with applicable securities regulatory authorities, including but not limited to: Liquor Stores' Annual Information Form for the year ended December 31, 2016 dated March 29, 2017 and Aurora's Annual Information Form for the year ended June 30, 2017 dated September 25, 2017, as well as subsequent reports which may be filed from time to time, which may be accessed on Liquor Stores' and Aurora's respective company profiles on SEDAR at www.sedar.com.
The forward-looking information contained in this press release is made as of the date hereof and Liquor Stores and Aurora undertake no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless so required by applicable securities legislation.
Invictus Receives $16.5 Million from Warrants and Option Exercises
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/02/05/IMH-IVITF-Invictus-Receives-165-Million-from-Warrants-and-Option-Exercises
VANCOUVER, Feb. 5, 2018 /PRNewswire/ - INVICTUS MD STRATEGIES CORP.'s ("Invictus" or the "Company") (TSXV:IMH) (OTC:IVITF) (FRA:8IS1) is pleased to announce that it has received an additional $16,536,234 from the exercise of previously issued warrants and options since December 22, 2017, bringing Invictus' cash balance to approximately $38 million. A total of 9,658,179 warrants and 26,000 options were exercised for proceeds of $16,527,854 and $10,130 respectively. As a result of such exercises, the Company currently has a total of 89,863,485 common shares issued and outstanding. There are 14,686,743 warrants outstanding that would bring cash into the Company of approximately $26 million, and additionally, 8,518,000 stock options outstanding that would bring in approximately $13.2 million.
Invictus' license holders total annual kilogram capacity after various phases of expansion in 2018 and 2019, complete and in progress, is expected to be approximately 76,400 kg, based on expanding facilities in 2019 to approximately 520,000 square feet. The expected net production capacity to Invictus of approximately 67,000 kg after giving effect to the additional investment as a result of the signed definitive agreement with AB Labs that will bring Invictus' ownership of AB Labs to 50%. With the recent exercise of warrants and options, Invictus' funded capacity today is approximately 27,200 kg.
REST OF ARTICLE: https://www.dailymarijuanaobserver.com/single-post/2018/02/05/IMH-IVITF-Invictus-Receives-165-Million-from-Warrants-and-Option-Exercises
Digipath Labs Resumes Testing Following Reinstatement of NV Licenses
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/02/01/Digipath-Labs-Resumes-Testing-Following-Reinstatement-of-NV-Licenses
LAS VEGAS, Feb. 1, 2018 /PRNewswire/ -- Digipath, Inc. (OTC:DIGP), a service-oriented independent cannabis testing laboratory and media firm focused on the developing cannabis market, announced today that it has resumed cannabis testing operations following the reinstatement of the Medical Marijuana Registration Certificate and Marijuana Testing Facility License held by its wholly-owned subsidiary, Digipath Labs. This follows a full audit of the Company's lab facilities by the Nevada Department of Taxation, Marijuana Enforcement Division and the Department's approval of the Plan of Correction submitted by Digipath Labs. Digipath Labs also received its Clark County Business License allowing full operation in the county and the state.
Todd Denkin, Digipath's President and COO, commented, "We are obviously pleased with the decision by Nevada's Department of Taxation to reinstate our lab testing licenses, and thank the team of inspectors for the focus and speed with which they worked with us. We are also very grateful to all of our clients who have been so supportive of us during this process and we already have a full schedule of samples coming in. We look forward to resuming testing services for all cannabis products, made here in Nevada."
About Digipath, Inc.
Digipath, Inc. supports the cannabis industry's best practices for reliable testing, cannabis education and training, and brings unbiased cannabis news coverage to the cannabis industry.
Digipath Labs provides pharmaceutical-grade analysis and testing to the cannabis industry to ensure producers, consumers, and patients know exactly what is in the cannabis they ingest and to help maximize the quality of its client's products through analysis, research, development, and standardization.
Information about Forward-Looking Statements
This press release contains "forward-looking statements" that include information relating to future events. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management's good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in, or suggested by, the forward-looking statements. Important factors that could cause these differences include, but are not limited to: the Company's need for additional funding, the demand for the Company's products, governmental regulation of the cannabis industry, the Company's ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of the Company's liquidity and financial strength to support its growth, and other risks that may be detailed from time-to-time in the Company's filings with the United States Securities and Exchange Commission. For a more detailed description of the risk factors and uncertainties affecting Digipath, please refer to the Company's recent Securities and Exchange Commission filings, which are available at www.sec.gov. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
iAnthus Closes Acquisition of 1 of 10 Vertically Integrated New York Licenses
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/02/01/IAN-ITHUF-iAnthus-Closes-Acquisition-of-1-of-10-Vertically-Integrated-New-York-Licenses-Citiva
NEW YORK, NY and TORONTO, ON--(Marketwired - February 01, 2018) - iAnthus Capital Holdings, Inc. ("iAnthus" or "the Company"), (CSE:IAN) (CSE: IAN.CN) (CNSX: IAN) (OTC:ITHUF), which owns, operates, and partners with licensed cannabis operations throughout the United States, is pleased to announce that it has acquired Citiva Medical, LLC ("Citiva NY"), which holds one of the ten vertically integrated medical marijuana "Registered Organization" licenses issued by New York State, and Citiva, LLC ("Citiva USA" and, together with Citiva NY, "Citiva"), the owner of certain regulated cannabis industry assets and intellectual property (the "Acquisition"). With the closing of the Citiva acquisition, iAnthus' regulated cannabis industry operations now span six states, including three of the most populous states on the East Coast (New York, Florida and Massachusetts).
Pursuant to the transaction, iAnthus acquired 100% of Citiva for approximately US$18.0 million, consisting of US$3.6 million payable in cash and US$14.4 million satisfied in iAnthus shares, at a deemed price per share of US$2.57.
As one of only ten (10) Registered Organizations under the New York medical cannabis program, Citiva NY's license includes a cultivation and processing facility and four dispensary locations to be located in Brooklyn, Staten Island, Dutchess County and Chemung County. Citiva's proposed 2,000 square-foot flagship Brooklyn dispensary is slated to open in Q4 2018, and will be one of only two dispensaries located in New York City's most populous borough, with 2.6 million residents. Citiva's Staten Island dispensary, which will be the only Registered Organization serving Staten Island's 500,000 residents, is also slated to open in Q4 2018. The Dutchess County and Chemung County dispensaries, serving a population of 300,000 and 70,000 respectively, are currently projected to open in Q2 2019.
iAnthus anticipates completing the purchase of 8.2 acres of land located in Orange County and beginning the buildout of its cultivation facility in Q1 2018. The Company has an option to purchase an additional 6.2 acres at a later date at the same location. Phase 1 of the buildout, which is projected to be complete in February 2019, will create 27,500 square-feet of cultivation space to support up to 1,470,000 grams of total flower capacity per year. Phase 2 of the buildout, which is expected to begin in Q3 2020 and complete construction by Q1 2021, is expected to expand the facility to 43,000 square-feet and support 2,940,000 grams of total flower capacity. Citiva is currently in advanced discussions with one or more Registered Organizations to implement a wholesale agreement in order to begin sales of medical cannabis products in Q4 2018.
"We're excited to be partnering with a Citiva team with deep roots in New York, and which has a sophisticated understanding of how to build healthcare companies in the state. Kim Volman, the Chief Executive Officer of Citiva, has previously built a highly successful pharmacy business in Brooklyn specializing in personalized medicine. We expect that experience to translate well into developing an effective medical cannabis business throughout the state," said Hadley Ford, CEO of iAnthus. "With the closing of the New York transaction, iAnthus now has operations in six states, and is currently the only publicly traded company which holds a New York Registered Organization."
"We look forward to working closely with doctors throughout the state and implementing robust patient education programs," said Volman. "Citiva was founded by a team of pharmacists and doctors with more than 30 years of combined experience, so we feel extremely comfortable working directly with the state's medical community."
Background on the New York State Medical Marijuana Program
The New York Medical Marijuana Program (the "Program") began accepting patients in December 2015 and has currently registered 42,429 patients. The Program has expanded in recent months to increase the accessibility of medical marijuana to patients through the addition of Post-Traumatic Stress Disorder (PTSD) as a qualifying condition, signed by Governor Andrew Cuomo on Veterans Day 2017. Other recent innovations by the state have included the implementation of home delivery, allowing nurse practitioners and physician assistants to issue medical cannabis recommendations to patients, and adding chronic pain the list of approved medical indications.
While the medical cannabis program is still growing, the recent regulatory improvements have significantly accelerated patient growth:
From December 31, 2015 to March 16, 2017 (prior to the addition of chronic pain): The Program added an average of 33 patient registrations per day. 14,437 patients were registered on March 16, 2017 prior to the implementation of chronic pain as a qualifying condition;
From March 30, 2017 to May 8, 2017 (post the addition of chronic pain): The Program added an average of 75 patient registrations per day, up 130% from the December 2015 - March 2017 period; and
From May 8, 2017 to January 23, 2018 (post the publication of qualifying practitioners): The Program added an average of 92 patient registrations per day, up ~180% from the December 2015 - March 2017 period. 42,429 patients were registered on January 23, 2018.
As of January 2018, the state expanded the list of allowable medical cannabis ingestion methods to include vaporization, tinctures, capsules, ointments, lotions, patches, tablets, lozenges, and certain non-smokable forms of ground plant material. Governor Cuomo recently announced his intention to launch a study examining the effects of an adult-use cannabis program in New York in his 2018 Executive Budget Address.
Transaction Details
iAnthus acquired 100% of Citiva NY for US$12.0 million, with US$2.4 million payable in cash and approximately US$9.6 million satisfied in iAnthus common shares and Class A convertible restricted shares, each at a price of US$2.57 per share. iAnthus acquired 100% of Citiva USA for US$6.0 million, with US$1.2 million payable in cash and approximately US$4.8 million satisfied in iAnthus common shares and Class A convertible restricted shares, each at a price of US$2.57 per share.
The securities issued by iAnthus in connection with the acquisition of Citiva are issued on a prospectus exempt basis and are subject to: (i) a hold period in Canada of four months and a day from the date of issuance; and (ii) an applicable US securities law legend.
The Company does not expect the acquisition of Citiva to be a "significant acquisition" for the purposes of Part 8 of National Instrument 51-102 -- Continuous Disclosure Obligations.
Conference Call and Webcast Details
The Company will hold a conference call for financial analysts and investors at 9:00am ET on Thursday, February 1, 2018 to discuss the Citiva transaction. A presentation will be available for download on the iAnthus Investor Relations web page shortly before the start of the call. The call will be archived and available on iAnthus' website for replay. Please visit http://ir.ianthuscapital.com/ to download a copy of the presentation or to access the archived conference call.
Dial In Number: (866) 393-4318 or international: (409) 350-3153
Conference ID: 8788029
Webcast: https://edge.media-server.com/m6/p/5gj3pk55
A replay of the call will be available for 7 days by dialing:
Replay Number: (855) 859-2056 or international: (404) 537-3406
Conference ID: 8788029
About iAnthus Capital Holdings, Inc.
iAnthus Capital Holdings, Inc. owns and operates best-in-class licensed cannabis cultivation, processing and dispensary facilities throughout the United States, providing investors diversified exposure to the U.S. regulated cannabis industry. Founded by entrepreneurs with decades of experience in operations, investment banking, corporate finance, law and health care services, iAnthus provides a unique combination of capital and hands-on operating and management expertise. The Company uses these skills to support operations across six states. For more information, visit www.iAnthusCapital.com.
About Citiva Medical, LLC and Citiva, LLC
The Citiva companies are led by Kim Volman, a registered pharmacist and successful entrepreneur who founded a medical business with over US$50 million in annual revenues that includes a long-term care pharmacy, retail pharmacies, and a compounding pharmacy focused on pain management, with four locations in and around New York City. Mr. Volman earned a B.S. in Pharmaceutical Science from St. John's University in 1997, and serves as a preceptor for the University at Buffalo School of Pharmacy and Pharmaceutical Sciences, educating students in retail pharmacy practice, direct patient care, alternative medicinal treatment modalities, and business skills. In 2016, Mr. Volman was appointed to the faculty of LIU Schwartz College of Pharmacy and Health Sciences where he serves as a clinical instructor.
Frank Turano serves as Citiva's Chief Financial Officer. Mr. Turano earned a B.S. in Economics, with a dual concentration in Accounting & Finance from the Wharton School at the University of Pennsylvania, where he graduated magna cum laude in 1990. Mr. Turano served as the CFO of his family business in Brooklyn, NY for 15 years, where he helped grow the business to over US$35 Million in annual sales while managing 125+ employees, spread over three national distribution centers. Since 2008, Mr. Turano has been involved in several start-up ventures, most recently serving as CFO for Calmare Pain Relief Solutions (CPRS), the largest provider in the U.S. of a non-narcotic, non-invasive treatment for chronic neuropathic pain known as Calmare Therapy.
David Palmieri serves as Citiva's Chief Operating Officer. Mr. Palmieri has led the development of Citiva's flagship research, cultivation, and product development center, and has worked with medical professionals and universities both internationally and across the US to promote and develop partnerships for cannabis research. Mr. Palmieri led the development of Citiva's cultivation, extraction and product development center partnership with the University of West Indies in Jamaica, which includes a cannabinoid research facility and open space greenhouse.
Forward Looking Statements
Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in iAnthus' periodic filings with Canadian securities regulators. When used in this news release, words such as "will, could, plan, estimate, expect, intend, may, potential, believe, should," and similar expressions, are forward-looking statements.
Forward-looking statements may include, without limitation, statements including the proposed cultivation facility located in Orange County, NY, the prior management experience of Citiva NY management team, the transaction being a "significant acquisition" for the purposes of National Instrument 51-102 -- Continuous Disclosure Obligations, and other statements of fact.
Although iAnthus has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to: dependence on obtaining regulatory approvals; investing in target companies or projects which have limited or no operating history and are engaged in activities currently considered illegal under US Federal laws; change in laws; limited operating history; reliance on management; requirements for additional financing; competition; hindering market growth and state adoption due to inconsistent public opinion and perception of the medical-use and adult-use marijuana industry and; regulatory or political change.
There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. As a result of these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events.
Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this release. iAnthus disclaims any intention or obligation to update or revise such information, except as required by applicable law, and iAnthus does not assume any liability for disclosure relating to any other company mentioned herein.
The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
ABcann Completes Acquisition of Harvest Medicine
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/02/01/ABcann-Completes-Acquisition-of-Harvest-Medicine
NAPANEE, Ontario, Feb. 01, 2018 (GLOBE NEWSWIRE) -- ABcann Global Corporation (TSXV:ABCN) (OTC:ABCCF) (“ABcann” or the “Company”) announced today that, further to its news release of December 12, 2017, it has completed the acquisition of Harvest Medicine Inc. (“HMed” or “Harvest Medicine”) pursuant to the terms of a share purchase agreement dated January 31, 2018 (the “Purchase Agreement”), in consideration for, among other things, a cash payment of $1.5 million; the issuance of 1,056,338 common shares in the capital of the Company (each, a “Share”); and additional post-closing consideration if certain performance milestones, which include certain patient, revenue and profitability metrics, are achieved (the “Transaction”).
As a result of the completion of the Transaction, Harvest Medicine has become a wholly-owned subsidiary of the Company but will maintain its commitment to being an open platform that enables patients to register with the Licensed Producer of their choice. To that end, ABcann has committed to invest $1.5 million to facilitate the development of new Harvest Medicine clinics and strategic patient-focused initiatives. ABcann has also entered into an employment agreement with Shekhar Parmar, the Chief Executive Officer of Harvest Medicine, pursuant to which he has been appointed Chief Strategy Officer of ABcann and will continue to act as CEO of HMed.
“The acquisition of Harvest Medicine represents further progress toward our goal of becoming a vertically integrated medical cannabis company,” said Barry Fishman, Chief Executive Officer of ABcann. “It is one of the fastest-growing medical cannabis clinics in Canada, with an aggressive expansion plan and a patient-focused approach that is aligned with ABcann’s philosophy of quality and innovation. We look forward to working with Shekhar to integrate Harvest Medicine into ABcann as we continue to execute on our strategic vision.”
“This transaction will allow Harvest Medicine to rapidly accelerate our expansion plans and bring our highly rated, patient-centric approach to patients in need. I am also personally looking forward to joining the executive team at ABcann and contributing to the continued dynamic growth of the company,” commented Mr. Parmar, Chief Executive Officer of Harvest Medicine.
In accordance with the terms of the Purchase Agreement, the Shares issued as partial consideration have been deposited into escrow pursuant to the terms of an escrow agreement dated January 31, 2018, and will be released in equal quarterly amounts over the three year period following the closing of the Transaction.
In connection with Mr. Parmar’s appointment as Chief Strategy Officer, the Company has granted Mr. Parmar 300,000 stock options, each of which is exercisable into one Share until January 31, 2023 at a price of $1.42 per Share, being the closing price per share on the TSX Venture Exchange on the date prior to the announcement of the binding letter agreement between the parties with respect to the acquisition of HMed. The options will vest monthly over 36 months from the date of grant.
About Harvest Medicine:
Harvest Medicine is an education focused, patient-centric, cannabis discovery center and clinic that has received tremendous response from its patients. Growing to over 9,700 active patients in under 12 months, and now acquiring over 1,300 new patients monthly from a single location, HMed is one of Canada’s most successful and fastest growing cannabis clinics.
Harvest Medicine is poised to expand its successful and highly scalable location in Calgary across the country. The first of these new clinics is expected to open in Edmonton in the spring of 2018 with other locations around the country being evaluated. Using a highly trained team of medical doctors and Canna Genius educators, Harvest Medicine provides a welcoming environment that focuses on educating patients on the safe and effective use of medical cannabis.
About ABcann:
ABcann holds production and sales licenses from Health Canada. Its flagship facility in Napanee, Ontario contains proprietary plant-growing technology, centred on its specially designed, environmentally-controlled growing chambers. This approach results in the production of pharmaceutical-grade cannabis products.
The Company is expanding its cultivation capacity and pursuing partnerships and product development opportunities domestically, as well as in select international markets, such as Germany, Australia and Israel.
ON BEHALF OF THE BOARD OF DIRECTORS
“Barry Fishman”
Barry Fishman
CEO and Director
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Disclaimer for Forward-Looking Statements
This news release contains certain “forward-looking statements” or “forward-looking information” as contemplated by applicable Canadian securities law. Forward-looking statements are frequently characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or information that certain events or conditions “may” or “will” occur. They are only a prediction. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements in this news release include, but are not limited to, statements regarding: (i) the expected growth plans of ABcann and HMed and the timing of same; and (ii) the expected benefits to be realized by ABcann and/or HMed as a result of the Transaction. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the forward-looking statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. Readers are urged to consider these factors, and the more extensive risk factors included in the Company’s annual information form dated January 24, 2018, which is available on SEDAR, carefully in evaluating the forward-looking statements, and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by these cautionary statements. ABcann 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.
Abattis to Acquire 49% Stake In CannaNUMUS Blockchain
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/02/01/Abattis-to-Acquire-49-Stake-In-CannaNUMUS-Blockchain
VANCOUVER, British Columbia, Feb. 01, 2018 (GLOBE NEWSWIRE) -- Abattis Bioceuticals Corp. (the "Company" or "Abattis") (CSE:ATT) (OTC:ATTBF) is pleased to announce that it has entered into an investment agreement (the “Agreement”) to acquire (the “Acquisition”) a 49% stake in CannaNUMUS Blockchain Inc. (“CannaNUMUS”). CannaNUMUS is developing a cryptocurrency (the “Coin”) under which tokens will represent the performance of a suite of portfolio cannabis companies.
“With a 49% equity stake in this blockchain platform, Abattis could see a significant upside from any CannaNUMUS liquidity event, including a reverse take-over of CannaNUMUS or an ICO,” stated Rob Abenante, CEO of Abattis. “With both companies being actively engaged in M&A in the cannabis space, we anticipate that the partnership will be synergistic, creating opportunities for collaboration, growth and a mutual deepening of expertise,” added Mr. Abenante.
The CannaNUMUS ecosystem is being developed to link cannabis investors directly with market leading companies, while simultaneously enabling frictionless peer-to-peer transactions. CannaNUMUS’s technology will marry the accountability and security benefits of blockchain with the real-world backing of enforceable legal contracts. The Coin will present investors with direct exposure to a high performing curation of companies, including licensed producers, labs, and downstream service operators. CannaNUMUS is building towards an initial coin offering (the “ICO”).
“We looked at many companies to partner with and Abattis came out on top,” stated Simran Gill, Founder and Executive of CannaNUMUS. “Through their growing portfolio of downstream products and services, Abattis can offer synergistic value to the Coin, which we believe will help boost its value after the ICO,” added Mr. Gill.
Abattis operates a diverse range of businesses across the cannabis space. The Acquisition enables Abattis to leverage its existing businesses and get ground-floor, pre-ICO access to one of the most disruptive technologies to appear in decades. Blockchain and cryptocurrencies have experienced explosive growth worldwide.
Pursuant to the Agreement, in exchange for a 49% equity stake in CannaNUMUS, Abattis will make an initial cash payment of $5 million as well as milestone-based payments to CannaNUMUS of up to $7 million, in the aggregate, upon (i) a definitive agreement being entered into with a company engaged in the cannabis economy for the use of the Coin as a medium of exchange, (ii) the successful ICO of the Coin and (iii) a second definitive agreement being entered into with a company engaged in the cannabis economy for the use of the Coin as a medium of exchange. Closing of the Acquisition is subject to, among other things, completion of due diligence by Abattis and the receipt of any required consents, including that of the Canadian Securities Exchange.
About Abattis Bioceuticals Corp.
Abattis is a life sciences and biotechnology company which aggregates, integrates, and invests in cannabis technologies and biotechnology services for the legal cannabis industry developing in Canada. The Company has successfully developed and licensed natural health products, medicines, extractions, and ingredients for the biologics, nutraceutical, bioceutical, and cosmetic markets. The Company is also seeking to acquire exclusive intellectual property rights to agricultural technologies to be employed in extraction and processing of botanical ingredients and compounds. The Company follows strict standard operating protocols, and adheres to the applicable laws of Canada and foreign jurisdictions. For further information please visit www.abattis.com
ON BEHALF OF THE BOARD,
ABATTIS BIOCEUTICALS CORP,
“Rob Abenante"
Robert Abenante, President & CEO
For inquiries, please contact the Company at (604) 674-8232 or at news@abattis.com.
This press release contains forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", “intends”, "should", "believe" and similar expressions are intended to identify forward-looking statements. Forward-looking statements in this press release include statements regarding: Abattis’s proposed Acquisition; CannaNUMUS’s development of the Coin; Abattis seeing a significant upside from any CannaNUMUS liquidity event, including a reverse take-over of CannaNUMUS or an ICO; the partnership between Abattis and CannaNUMUS being synergistic, creating opportunities for collaboration, growth and a mutual deepening of expertise; the CannaNUMUS ecosystem being developed to link cannabis investors directly with market leading companies, while simultaneously enabling frictionless peer-to-peer transactions; CannaNUMUS’s technology marrying the accountability and security benefits of blockchain with the real-world backing of enforceable legal contracts; the Coin presenting investors with direct exposure to a high performing curation of companies, including licensed producers, labs, and downstream service operators; the belief that Abattis’s offer of synergistic value to the Coin will help boost its value after the ICO; and Abattis’s anticipated investment in CannaNUMUS, including the various milestone payments due under the Agreement. 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, including: that the Acquisition will not complete; that CannaNUMUS will not develop the Coin; that Abattis will not see a significant upside from any CannaNUMUS liquidity event, including a reverse take-over of CannaNUMUS or an ICO, or that such a liquidity event will not take place; that the partnership between Abattis and CannaNUMUS will not be synergistic or create opportunities for collaboration, growth or a mutual deepening of expertise; that the CannaNUMUS ecosystem will not link cannabis investors directly with market leading companies, while simultaneously enabling frictionless peer-to-peer transactions; that CannaNUMUS’s technology will not marry the accountability and security benefits of blockchain with the real-world backing of enforceable legal contracts; that the Coin will not present investors with direct exposure to a high performing curation of companies, including licensed producers, labs, and downstream service operators; that Abattis’s offer of synergistic value to the Coin will not help boost its value after the ICO; that Abattis will not make its anticipated initial investment in CannaNUMUS or the various milestone payments due under the Agreement; that the Company will not be able to execute its proposed business plan in the time required or at all due to regulatory, financial or other issues; that the Company’s competitors may develop competing technologies; changes in regulatory requirements; and other factors beyond the Company’s control. Additional risk factors are included in the Company's Management's Discussion and Analysis, available under the Company's profile on www.sedar.com. The forward-looking statements are made as at the date hereof and the Company disclaims any intent or obligation to publicly update any forward-looking statements, where because of new information, future events or results, or otherwise, except as required by applicable securities laws.
22nd Century to Present at BIO CEO & Investor Conference
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/02/01/22nd-Century-to-Present-at-BIO-CEO-Investor-Conference
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 will present at the BIO CEO & Investor Conference at the New York Marriott Marquis on Monday, February 12, 2018 at 2:00 PM EST.
Henry Sicignano III, President and Chief Executive Officer of 22nd Century Group, will deliver a formal presentation and will discuss the Company’s recent business highlights and updates. Mr. Sicignano will also be available for one-on-one meetings with investors at the conference.
Now in its 20th year, the BIO CEO & Investor Conference is one of the largest investor conferences focused on established and emerging publicly traded and select private biotech companies.
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.
GrowGeneration Purchases All the Assets of Humboldt Depot
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/01/31/GrowGeneration-Purchases-All-the-Assets-of-Humboldt-Depot
DENVER, CO, Jan. 31, 2018 /PRNewswire/ - GrowGeneration Corp. (OTC:GRWG), GrowGeneration ("GrowGen" or the "Company"), one of the largest specialty retail hydroponic and organic gardening stores, with currently 15 locations serving both commercial and home growers, today announced that it has purchased all the assets of Humboldt Depot located in Arcata, CA. The Humboldt Depot operation generated approximately $4.0 Million in revenue in 2017 and this revenue will be added to the Company's consolidated financial statement. Humboldt Depot also has a location in McKinleyville, CA which the company plans to open and operate as a 2nd location in Humboldt County.
GrowGeneration Focused On Aggressive California Expansion
GrowGen continues the execution of its acquisition plans to acquire the leading hydroponic stores in key markets. Additionally, the company plans to expand its acquisition strategy into complementary verticals that include nutrients, soils, integrated pest management and other products that are consumed by cultivators already served by GrowGeneration. California continues to present significant growth opportunities for GrowGen, particularly with adult-use laws going into effect on Jan. 1, 2018. According to New Frontier Data, the California market projects to grow at a compounded annual rate of 18.5%, from $2.76 billion in 2015 to $6.5 billion by 2020.
GrowGen CEO Comments
Commenting on GrowGen's a purchase of Humboldt Depot, Darren Lampert, Co-Founder and CEO, said, "Our acquisition of Humboldt Depot strongly positions GrowGen in Humboldt County which is abundant with cultivators. Increasing our warehouse and retail showroom space will allow us to stock at inventory levels and sizes to attract the largest commercial growers. With over 2,000 cultivation licenses being applied for this year in Humboldt County, GrowGen is now poised to gain significant new business in one of America's iconic regions for cannabis cultivation. California is a major marketplace that the Company is developing, and plans to add several locations in the coming months."
GrowGeneration has already increased its revenue forecast for 2018 to $30M and has a strong acquisition pipeline in development for 2018. The Company plans to complete several acquisitions in the first half of 2018 and expanding its US model into Canada in 2018.
About GrowGeneration Corp.:
GrowGeneration Corp. ("GrowGen") owns and operates specialty retail hydroponic and organic gardening stores. Currently, GrowGen has 17 stores, which includes 9 locations in Colorado, 4 locations in California, 2 locations in Las Vegas, 1 location in Rhode Island and 1 location in Washington. GrowGen carries and sells thousands of products, including organic nutrients and soils, advanced lighting technology and state of the art hydroponic equipment to be used indoors and outdoors by commercial and home growers. Our mission is to own and operate GrowGeneration branded stores in all the major legalized cannabis states. Management estimates that roughly 1,000 hydroponic stores are in operation in the U.S. By 2020 the market is estimated to reach over $23 billion with a compound annual growth rate of 32%.
Forward Looking Statements:
This press release may include predictions, estimates or other information that might be considered forward-looking within the meaning of applicable securities laws. While these forward-looking statements represent our current judgments, they are subject to risks and uncertainties that could cause actual results to differ materially. You are cautioned not to place undue reliance on these forward-looking statements, which reflect our opinions only as of the date of this release. Please keep in mind that we are not obligating ourselves to revise or publicly release the results of any revision to these forward-looking statements in light of new information or future events. When used herein, words such as "look forward," "believe," "continue," "building," or variations of such words and similar expressions are intended to identify forward-looking statements. Factors that could cause actual results to differ materially from those contemplated in any forward-looking statements made by us herein are often discussed in filings we make with the United States Securities and Exchange Commission, available at: www.sec.gov, and on our website, at: www.growgeneration.com.
Intec Welcomes R. Michael Gendreau, M.D., Ph.D. as Chief Medical Officer
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/01/31/Intec-Welcomes-R-Michael-Gendreau-MD-PhD-as-Chief-Medical-Officer
JERUSALEM, Jan. 31, 2018 /PRNewswire/ -- Intec Pharma Ltd. (NASDAQ:NTEC) (TASE:NTEC), a clinical stage biopharmaceutical company focused on developing pharmaceutical therapies based on its proprietary Accordion Pill™platform technology, today announced it has named R. Michael Gendreau, M.D., Ph.D. to the position of Chief Medical Officer. Dr. Gendreau, a seasoned industry veteran, brings to Intec Pharma over 30 years of experience in the drug development and pharmaceutical industry.
"I am delighted to have Michael join our executive team. He is an extraordinarily talented individual who has extensive clinical trial experience and has helped obtain multiple FDA approvals," said Jeffrey A. Meckler, Chief Executive Officer of Intec Pharma. "His knowledge and experience will meaningfully impact and move forward our Accordion Pill clinical programs."
Michael added, "I am excited to join the Intec team. I look forward to contributing to the clinical development of the Accordion Pill technology platform and the completion of our Phase 3 AP-CD/LD program to bring this potentially game-changing therapy to Parkinson's patients around the world."
Dr. Gendreau joins Intec after having founded a consulting firm providing strategic advice on the design and management of clinical programs, strategic planning, and technology assessments for emerging pharmaceutical, diagnostic, and medical device companies. He has served on various scientific advisory boards, executive strategic planning boards, and Data Safety Monitoring Boards. Prior to his consulting career, Dr. Gendreau served as Chief Medical Officer at Cypress Bioscience, Inc., a clinical-stage biotech company developing therapies for central nervous system disorders. Additionally, he has served as Chief Medical Officer at other institutions including Battelle Memorial Institute. Dr. Gendreau received his B.S. in Chemistry from Ohio University, and earned his M.D./Ph.D. from The Ohio State University.
About Intec Pharma Ltd.
Intec Pharma is a clinical-stage biopharmaceutical company focused on developing drugs based on its proprietary Accordion Pill platform technology. The Company's Accordion Pill is an oral drug delivery system that is designed to improve the efficacy and safety of existing drugs and drugs in development by utilizing an efficient gastric retention and specific release mechanism. The Company's product pipeline includes two product candidates in clinical trial stages: Accordion Pill Carbidopa/Levodopa, or AP-CD/LD, which is being developed for the treatment of Parkinson's disease symptoms in advanced Parkinson's disease patients, and AP-CBD/THC, an Accordion Pill with the two primary cannabinoids contained in Cannabis sativa, cannabidiol (CBD) and tetrahydrocannabinol (THC), which is being developed for various indications including low back neuropathic pain and fibromyalgia.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements about the Company's expectations, beliefs and intentions. Forward-looking statements can be identified by the use of forward-looking words such as "believe", "expect", "intend", "plan", "may", "should", "could", "might", "seek", "target", "will", "project", "forecast", "continue" or "anticipate" or their negatives or variations of these words or other comparable words or by the fact that these statements do not relate strictly to historical matters. These forward-looking statements are based on assumptions and assessments made in light of management's experience and perception of historical trends, current conditions, expected future developments and other factors believed to be appropriate. Forward-looking statements in this press release are made as of the date of this press release, and the company undertakes no duty to update or revise any such statements, whether as a result of new information, future events or otherwise. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties, many of which are outside of the company's control. Important factors that could cause actual results, developments and business decisions to differ materially from forward-looking statements are described in the sections titled "Risk Factors" in the company's filings with the Securities and Exchange Commission, and include the following: the company's ability to develop and commercialize its product candidates and obtain additional financing necessary therefor; the length, cost and uncertain results of the company's clinical trials; including uncertainty regarding the Company's ability to enroll the required number of patients therein; the potential of adverse side effects, other safety risks, or legal prohibitions on the use of certain products in certain jurisdictions that could preclude the approval of the company's drug candidates; the availability of reimbursement from government authorities and health insurance companies for the company's products; the impact of product liability lawsuits; and the influence of extensive and costly government regulation.
Liberty Health Announces Agreement to Acquire 387-Acres in Gainesville, FL
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/01/31/Liberty-Health-Announces-Agreement-to-Acquire-387-Acres-in-Gainesville-FL
TORONTO, Jan. 31, 2018 /PRNewswire/ - Liberty Health Sciences Inc. (CSE:LHS) (OTC:LHSIF) ("Liberty" or the "Company") announced today that it has entered into a definitive share purchase agreement (the "Definitive Agreement") with 242 Cannabis Canada Ltd. to acquire all of the issued and outstanding shares (the "Purchased Shares") of its wholly-owned subsidiary, 242 Cannabis, LLC, a Florida limited liability company, which includes a 387-acre parcel of land in Gainesville, Florida (the "Property") which was previously owned by Alico Citrus Nursery, LLC, a Florida limited liability company ("Alico").
The Property includes over 200,000 square feet of state-of-art greenhouses, head houses, tissue culture lab and processing facilities. Liberty plans to retrofit the facilities over the coming months to include a 16,000-square-foot processing area that will be used for extraction and refining of cannabis oils. It will be equipped to produce vaporizer products including preloaded disposable pens, cartridges and pods. Liberty will continue to offer other dosage forms such as capsules, oral solutions (tinctures) and topicals. In addition, the processing area will also have a commercial kitchen for the production of edibles and chewable dosage forms, once the state has defined and promulgated the necessary regulations to govern edible and chewable dosage forms.
The retrofitted facilities will enable the Company to expand production capacity a year sooner than projected, in order to meet the growing patient demand in Florida. Upon completion, Liberty will be one of the leading medical cannabis providers in the Florida market with an expected annual capacity of 12,000 kg of high quality, affordable, medical cannabis. Liberty's ability to cultivate at this new facility will be subject to the receipt of all required approvals and/or authorizations from the Florida Department of Health, Office of Medical Marijuana Use.
"With this acquisition we're accelerating our aggressive growth strategy to more quickly meet the increasing demand for high-quality medical cannabis in Florida," said George Scorsis, Director and CEO of Liberty. "Bringing this additional capacity to the market sooner represents another important milestone in our unwavering commitment to servingFlorida's patients in need."
The proposed acquisition will be completed through a series of transactions. 242 Cannabis, LLC previously entered into an asset purchase agreement with Alico to acquire the Property. The Company expects 242 Cannabis, LLC's purchase of the Property and the subsequent purchase by the Company of the Purchased Shares to close on or prior to February 9, 2018, and closing is subject to customary conditions, including confirmation of title, receipt of environmental assessments and surveys as well as the satisfaction of other customary conditions in accordance with the Definitive Agreement.
As consideration for the Purchased Shares, the Company will issue 18,815,322 units of the Company, with each unit being comprised of one common share of the Company issued at a common share price of $1.6476 and one-half common share purchase warrant, with each whole warrant exercisable into common shares of the Company at an exercise price of $2.07 per common share for a period of three years from the closing date of the acquisition. The Company has received conditional approval from the CSE for the issuance of such securities in respect of the transactions contemplated under the Definitive Agreement.
An integral part of the proposed acquisition of the Purchased Shares, the Company shall receive a cash balance of up to$17.3 million in 242 Cannabis, LLC. Approximately $3 million in cash will be held back under the Definitive Agreement as a purchase price adjustment, subject to the achievement of certain performance targets by the Company.
The Company also confirms the previously announced bought deal equity financing of units of the Company has been mutually terminated by the Company and the underwriters, Clarus Securities Inc. and AltaCorp. Capital Inc., in accordance with the terms of the Underwriting Agreement dated January 10, 2018.
For more information on Liberty please visit www.libertyhealthsciences.com
About Liberty Health Sciences Inc.
Liberty Health Sciences Inc. ("Liberty") is an investor and operator in the medical cannabis market, capitalizing on new and existing opportunities in U.S. states where medical cannabis is legal. Liberty's stringent investment criteria for expansion maximizes returns to shareholders, while focusing on significant near- and mid-term opportunities. Liberty has an extensive background in highly regulated industries, with expertise in becoming a low-cost producer. Liberty leverages commercial greenhouse knowledge to deliver high-quality, clean and safe pharmaceutical grade cannabis to patients.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "believe", "plan", "intend" or the negative of these terms and similar expressions. Forward-looking statements in this news release include, but are not limited to, expectations related to the Company's future expansion and growth strategies, the completion of 242 Cannabis, LLC's purchase of the Property and the subsequent purchase of the Purchased Shares by the Company, the Company's expectations in respect of the future growth of medical cannabis as a treatment option in Florida, the planned retrofitting and equipping of the facilities at the Property and the Company's expectations regarding market position. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; marketing costs; loss of markets; future legislative and regulatory developments involving medical marijuana; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the medical marijuana industry in the United States generally, income tax and regulatory matters; the ability of Liberty to implement its business strategies; competition; crop failure; currency and interest rate fluctuations and other risks.
Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
Canopy Growth to Announce Third Quarter Fiscal 2018 Financial Results
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/01/30/Canopy-Growth-to-Announce-Third-Quarter-Fiscal-2018-Financial-Results
SMITHS FALLS, ON, Jan. 30, 2018 /CNW/ - Canopy Growth Corporation (TSX:WEED) (OTC:TWMJF) ("Canopy Growth") will release its financial results for the third quarter fiscal 2018 ended December 31, 2017 on February 14, 2018.
Following the release of its third quarter fiscal 2018 financial results, Canopy Growth will host a conference call and audio webcast with Bruce Linton, CEO and Tim Saunders, CFO at 8:30 AM Eastern Time the same day.
Webcast Information
A live audio webcast will be available at: http://event.on24.com/r.htm?e=1595142&s=1&k=E5297D473ED845DDE857FD35673F9872
Calling Information
Toll Free Dial-In Number: 1-888-231-8191
International Dial-In Number (647) 427-7450
Conference ID: 7877468
Replay Information
A replay of the call will be accessible by telephone until 11:59 PM ET on May 14, 2018.
Toll Free Dial-in Number: 1-855-859-2056
Replay Password: 7877468
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 icons Snoop Dogg and Organa Brands, breeding legends DNA Genetics and Green House seeds, and Fortune 500 alcohol leader Constellation Brands. 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.
Here's to Future Growth.
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 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 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.
Neither the TSX Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Exchange) accepts responsibility for the adequacy or accuracy of this release.
Tikun Olam Sells 1,000,000 shares of MedReleaf
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/01/30/Tikun-Olam-Sells-1000000-shares-of-MedReleaf
Toronto, Ontario--(Newsfile Corp. - January 30, 2018) - Tikun Olam Ltd. announces that on January 29, 2018 it sold over the Toronto Stock Exchange, 1,000,000 common shares (representing approximately 1.05% of the outstanding shares) of MedReleaf Corporation (TSX:LEAF). The shares were sold at a price of $22.02 per share for total gross consideration of $22,020,000. This press release is being issued pursuant to Canadian early warning requirements because Tikun Olam's ownership of shares has decreased to less than 10% of outstanding share capital of MedReleaf Corporation.
Tikun Olam now beneficially owns and controls 8,826,665 common shares representing approximately 9.31% of the outstanding share capital of MedReleaf on a non-diluted basis. Prior to the foregoing sale, Tikun Olam beneficially owned and controlled 9,826,665 common shares, representing approximately 10.36% of the outstanding shares of MedReleaf on a non-diluted basis.
The shares were sold for investment purposes. Tikun Olam has a long-term view of the investment and may acquire additional shares either on the open market or through private acquisitions or sell the shares either on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.
Tikun Olam is the first and largest supplier of medical Cannabis in Israel, and one of the leading medical cannabis companies in the world. It is also one of the founding shareholders of MedReleaf Corporation.
MedReleaf Corporation is located at Markham Industrial Park, P.O. Box 3040, Markham, Ontario, L3R 6G3. A copy of Tikun Olam's early warning report will appear on MedReleaf Corporation's profile on SEDAR at www.sedar.com and may also be obtained by contacting Tikun Olam Ltd. at +972 (3) 544-5860.