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.
Future Farm Raises Over $2.5 Million Through Warrant and Option Exercises
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/01/17/FFT-FFRMF-Future-Farm-Raises-Over-25-Million-Through-Warrant-and-Option-Exercises
Future Farm Raises Over $2.5 Million Through Warrant and Option Exercises
January 17, 2018
|
Globe Newswire
Vancouver, BC , Jan. 17, 2018 (GLOBE NEWSWIRE) -- Future Farm Technologies Inc. (the “Company” or “Future Farm”) (CSE:FFT) (OTC:FFRMF) is pleased to announce that $2,553,092 has been raised to date through the voluntary conversion of both its $0.35 and $0.37 warrants and through the exercise of options.
The $0.35 per share warrants expired on January 11, 2018, however Shareholders may still convert their $0.37 per share warrants into Future Farm’s common stock until March 7, 2018.
Shareholders wishing to exercise their warrants are asked to contact the Company by following the instructions below:
Enquiries by email:
Belinda Tyldesley at closingbellservices@gmail.com
Original Warrant Exercise Forms and payment by way of certified cheque or bank draft payable to “Future Farm Technologies Inc.” should be delivered to #510-580 Hornby Street, Vancouver, BC V63 3B6 or by wire transfer in Canadian funds to Future Farm Technologies Inc. Wire instructions will be provided upon request.
On behalf of the Board,
Future Farm Technologies Inc.
William Gildea, CEO & Chairman
About Future Farm
Future Farm Technologies Inc. is a Canadian company with projects throughout North America including California, Florida and Maryland. The Company’s business model includes developing and acquiring technologies that will position it as a leader in the evolution of Controlled Environment Agriculture (CEA) for the global production of various types of plants, with a focus on cannabis. Future Farm provides scalable, indoor CEA systems that utilize minimal land, water and energy regardless of climate, location or time of year and are customized to grow an abundance of crops close to consumers, therefore minimizing food miles and its impact to the environment. The Company holds an exclusive, worldwide license to use a patented vertical farming technology that, when compared to traditional plant production methods, generates yields up to 10 times greater per square foot of land. The contained system provides many other benefits including 90% less water, fertilizer and land used, less travel costs, seed to sale security, scalability, consistency due to year-round production, cost control, product safety and purity by eliminating environmental variability. The Company also utilizes a leading cannabis oil extraction technology, which enables the Company to process 20lbs/hour of cannabis plant to yield approximately 908 grams/hour of oil.
The Company is also in the business of designing and distributing LED lighting solutions utilizing the COB and MCOB technology. The Company is focused on delivering cost efficient lighting to North America via advanced e-commerce sites the Company owns and operates. LEDCanada.com, which caters to B2B customers, is a supplier of the newest and highest demand LED solutions. The Company also owns and operates COBGrowlights.com, which caters to both large and small agriculture green houses and controlled cultivation centers.
The Company recently acquired the exclusive right to use a patented, augmented reality (AR) technology in the cannabis industry. As described in more detail above, the Company has decided to spin this asset off to its shareholders.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. The Canadian Securities Exchange has not in any way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
MPX Signs Agreement With Israeli Pharmaceutical Company
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/01/15/MPX-Signs-Agreement-With-Israeli-Pharmaceutical-Company
TORONTO, Jan. 15, 2018 (GLOBE NEWSWIRE) -- MPX Bioceutical Corporation (the “Company” or “MPX”) (CSE:MPX) (OTC:MPXEF) today announced that further to its press release dated August 22, 2017, it has entered into a definitive agreement with Panaxia Pharmaceutical Industries Ltd. (“Panaxia”) through its wholly-owned subsidiary Salus BioPharma Corporation (“Salus BioPharma”), a company engaged in the business of development and production of pharma grade cannabidiol medicinal products, medicinal preparations and medicinal accessories (the “CBD Products”).
Panaxia will provide the capital and equipment to build out and equip the manufacturing facility and will supply the non-active ingredients and compounds for formulation and packaging. The CBD Products will be produced at MPX-operated locations under licenses owned or managed by the Company or a subsidiary thereof. Salus BioPharma will provide Panaxia with the raw cannabidiol materials for final product assembly, as well as be responsible for marketing of the CBD Products which will be sold through the Health for Life (“HFL”) dispensaries managed by MPX and through HFL’s wholesale channels to other licensed dispensaries in Arizona.
The agreement also provides Salus BioPharma with exclusivity for the production and marketing of pharma-grade cannabinoid products through MPX-operated dispensaries in Arizona, Maryland, Massachusetts and Nevada with a right of first refusal in any other U.S. State, other than California, Colorado and New Mexico.
The construction of the first production facility at Health for Life’s Mesa North Arizona location is still in the permitting phase. Once approved, the installation can progress rapidly and production of additional CBD Products are expected to commence in Arizona in the Second Quarter of 2018 with the launch of seven pharma-grade CBD Products. The CBD Products are all proprietary, having been developed for specific medical indications and conditions in accordance with Good Manufacturing Procedure approval from the Israeli Department of Health, part of the Ministry of Health.
“This agreement provides MPX with an unparalleled opportunity to develop and sell pharma-grade cannabinoid products into the burgeoning medical cannabis market. Panaxia is a recognized world leader in the development of pharma-grade products and will work with Salus BioPharma to generate strong brand awareness and differentiate Salus Biopharma offerings,” said Michael Arnkvarn, Executive Vice President of MPX. “We look forward to launching Salus BioPharma products in Arizona and will look at expanding operations into our other operating states in line with our long-term growth strategy.”
“We anticipate the cannabinoid products will address a relatively underserved segment of a medical cannabis market that shows no signs of slowing,” said Beth Stavola, COO of MPX. “Together with our partner, Panaxia, we expect to continue to further enhance our already well-established presence and capture growing market share.”
About MPX Bioceutical Corporation
MPX, an Ontario corporation, through its wholly owned subsidiaries in the U.S., provides substantial management, staffing, procurement, advisory, financial, real estate rental, logistics and administrative services to two medicinal cannabis enterprises in Arizona operating under the Health for Life (dispensaries) and the award-winning Melting Point Extracts (high-margin concentrates wholesale) brands. The successful Health for Life brand operates in the rapidly growing Phoenix Metropolitan Statistical Area.
The recently acquired GreenMart of Nevada NLV, LLC (“GreenMart”) is an award winning licensed cultivation, production and wholesale business, licensed for both the medical and “adult use” sectors in Las Vegas, Nevada, and is already selling wholesale into the Nevada medical cannabis market. GreenMart has also optioned suitable locations and intends to enter the higher-margin retail arena by applying for at least two dispensary licenses in the Las Vegas market which will operate under the “Health for Life” brand.
The Company owns assets in Massachusetts supporting cultivation, production and up to three dispensaries there, and with the closing of this most recent transaction, MPX manages two full service dispensaries and one producer in Maryland.
MPX continues to expand its U.S. footprint, and has recently acquired management companies that provide operational and other services to two dispensaries and one production license in Maryland. The Company also leases a property in Owen Sound, Ontario, for which an application to Health Canada has been made for a cannabis production and sales license. In addition, the Company will continue its efforts to develop its legacy nutraceuticals business.
About Panaxia Pharmaceutical Industries Ltd.
Panaxia is a manufacturer of pharmaceutical dosage forms incorporating cannabinoids as an active ingredient. The company is part of a larger group of companies which have manufactured pharmaceuticals for more than 40 years. Together, the group produces more than 300 different conventional medication products, with a wide range of indications from sore throat lozenges to dermal fillers. The group sells into more than 25 countries and is very R&D oriented. Panaxia Pharmaceutical Industries has been developing and manufacturing pharmaceutical products based on cannabis derivatives since 2010.
Cautionary Statement Regarding Forward-Looking Information
This news release includes certain “forward-looking statements” under applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to, MPX’s objectives and intentions. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic and social uncertainties; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; delay or failure to receive board, shareholder or regulatory approvals; those additional risks set out in MPX’s public documents filed on SEDAR at www.sedar.com; and other matters discussed in this news release. Although MPX believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, MPX disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
Aphria to Acquire 100% of West Coast Producer Broken Coast
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/01/15/APH-APHQF-Aphria-to-Acquire-100-of-West-Coast-Producer-Broken-Coast
LEAMINGTON, ON and LADYSMITH, BC, Jan. 15, 2018 /CNW/ - Aphria Inc. ("Aphria" or the "Company") (TSX:APH) and (OTC:APHQF) is pleased to announce that it has entered into a binding letter agreement to acquire 100% of the issued and outstanding share capital of Broken Coast Cannabis Inc. ("Broken Coast"), a leading premium cannabis producer located in British Columbia (the "Transaction"). Broken Coast adds award-winning premium production and a proven West Coast brand to Aphria's asset portfolio, affirming the Company's market position ahead of a legal adult recreational use market in Canada. The Transaction is expected to add incremental annual production of 10,500 kgs, a portion of which is market ready today, elevating Aphria's forecast annual production to 230,000 kgs while also providing Aphria with geographic diversification, a cross-Canada distribution platform, and access to over 40,000 medical patients. In combination with its low cost and scaled greenhouse platform in Leamington, Ontario, the addition of Broken Coast establishes Aphria as a Canadian leader in premium indoor cannabis production.
Highlights of the Transaction
Industry-leading market position and geographic diversification: The pro-forma company will be the largest LP by Adjusted EBITDA1 and second largest by revenue in calendar year 20182, with a combined production potential of more than 110,000 kgs per year at an average cost of less than $2.00 per gram from assets in Ontario and British Columbia.
Established brand and highly-regarded product quality solidifies recreational positioning and strategy: The Transaction represents Aphria's second major investment into consumer- and brand-focused assets, in advance of the legalization of adult recreational use of cannabis expected in 2018. The addition of Broken Coast's award-winning BC brand and reputation for a premium product further diversifies and augments Aphria's product portfolio.
Extensive genetic library and differentiated product offerings: Broken Coast has an extensive genetic library with over 1,000 seeds that can be commercialized. Leveraging Broken Coast's genetics will enable the pro-forma company to bring unique, differentiated cannabis products to market.
Combined production practices and proprietary technological know-how: Both teams anticipate improved operational performance through the implementation and sharing of production practices and know-how. Broken Coast expects to leverage Aphria's years of scaling and supply chain management experience for its indoor production, while Aphria is set to benefit from Broken Coast's significant premium cannabis cultivation expertise.
Accretive economics on both trailing and forward metrics: Broken Coast has had positive Adjusted EBITDA since 2015, and its lean operations are highly complementary to Aphria. In combination with Aphria's track record, the combined entity is expected to be amongst the most profitable and sustainable producers in the country.
Complementary low-cost cultivation: The Transaction supports Aphria's low-cost, high-margin strategy. Broken Coast has achieved a low cost of production that is highly favourable compared to indoor peers.
Combined company synergies: The Company expects to realize improved supply chain management efficiencies, leveraging Aphria's cost-effective supply chain network and now a West Coast distribution platform; cross-selling and up-selling to customers through a broader product portfolio; integrated operations and controls; and implementation of best practices.
Highly experienced management team with West Coast foothold: Broken Coast's management and cultivation teams have a proven ability to scale premium indoor cannabis production and drive production yields, and bring a strong foothold in the West Coast to Aphria, which is expected to be one of Canada's largest and most diverse recreational cannabis markets.
"Adding one of Canada's most sought after premium brands represents a major triumph for Aphria and our shareholders and firmly establishes our position as a Canadian leader in premium indoor cannabis production," said Vic Neufeld, Chief Executive Officer of Aphria. "Broken Coast has proven that you can grow premium quality cannabis, charge a reasonable price and earn a profit all at the same time. Our two companies are closely aligned, particularly as it relates to our relentless focus on production costs and profitability. We look forward to learning from each other and bringing more Broken Coast cannabis to current medical patients and future adult recreational use consumers in Canada."
"Broken Coast is committed to providing a premium and affordable product to its patient base while staying true to BC's iconic cannabis brand and culture," said Roberto Bresciani, Director and Co-Founder of Broken Coast. "Joining the Aphria team will open doors to keep innovating with our unique production process and cannabis genetics. While we are joining a talented large-scale greenhouse operator, Broken Coast will retain a high level of independence and our existing management and production teams will continue to drive our corporate strategy and produce incredible cannabis products."
Broken Coast facility and approval of phase IV expansion
Broken Coast operates a fully licensed, purpose-built, indoor cannabis production facility on Vancouver Island. Currently 26,000 sq. ft., the facility is undergoing an expansion that is near-complete and will bring total square footage to 44,000 sq. ft., capable of producing a cumulative 4,500 kgs per year. The facility sits on a 4.5-acre parcel of owned land that has the necessary surrounding infrastructure to support further expansions, specifically Broken Coast's planned Phase IV expansion to bring total capacity to 10,500 kgs per year.
As part of the Transaction, Aphria approved the immediate commencement of Broken Coast's Phase IV expansion ("Expansion"). The 60,000 sq. ft. Expansion is expected to cost under $20 million and will increase the facility's annual capacity from 4,500 kgs per year to 10,500 kgs per year. The Expansion is anticipated to be completed by late summer 2018, with first product sale occurring in early 2019.
Founded in 2013, Broken Coast was the fourth (4th) licensed producer in British Columbia and twelfth (12th) licensed producer in Canada. Utilizing a proprietary grow method that is supported by a highly automated and standardized growing system, Broken Coast's name and brand has become synonymous with premium cannabis. The company has amassed a loyal patient base of over 10,000 registered patients, of which over 50% are domiciled in Western Canada, by offering premium quality cannabis at an affordable price.
Transaction summary
The total Transaction value is approximately $230 million, to be paid with up to $10 million in cash and the remainder in Aphria shares, and is subject to customary closing adjustments. Shares issued to Broken Coast shareholders will be issued at a deemed price of $ 15.09 representing the 20-day VWAP of Aphria at market close on the business day immediately prior to the signing of the parties initial non-binding letter of intent. Each of the three co-founders of Broken Coast, who cumulatively hold over 80% of the outstanding capital, will remain with the pro-forma company.
The deal remains subject to certain other customary closing conditions for the benefit of Aphria, including the conditional approval of the TSX, applicable regulatory approvals and the satisfaction of certain customary closing conditions. Aphria does not require a shareholder approval for the Transaction.
The Transaction is anticipated to close by January 31, 2018.
Financial and legal advisors
Stoic Advisory Inc. is acting as financial advisor and Stikeman Elliott LLP is acting as legal advisor to Aphria.
Canaccord Genuity Corp. is acting as financial advisor and Velletta & Company is acting as legal counsel to Broken Coast.
We Have a Good Thing Growing.
About Aphria
Aphria Inc., one of Canada's lowest cost producers, produces, supplies and sells medical cannabis. Located inLeamington, Ontario, the greenhouse capital of Canada. Aphria is truly powered by sunlight, allowing for the most natural growing conditions available. Aphria is committed to providing pharma-grade medical cannabis, superior patient care while balancing patient economics and returns to shareholders.
About Broken Coast
Broken Coast Cannabis, a medical cannabis producer based in British Columbia, is proud to be Canadian owned and operated. Broken Coast believes that quality results from adhering to strict procedural protocol and environmental control. Through an extensive system of operating procedures, they provide the highest levels of purity, quality, and customer satisfaction. Premium cannabis is grown hydroponically in a custom-built facility, in small batches in single-strain rooms, and harvested on a rotational cycle to ensure they have a steady supply of fresh product in stock.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "potential", "believe", "intend" or the negative of these terms and similar expressions. Forward-looking statements in this news release include, but are not limited to, statements with respect to accretive earnings, anticipated revenue and costs synergies associated with the acquisition of Broken Coast, statements with respect to internal expectations, estimated margins, expectations for future growing capacity and costs, the completion of any capital project or expansions, the timing for the completion of the Transaction and expectations with respect to future production costs. In particular, there can be no assurance that the Transaction will be completed. Forward looking statements are based on certain assumptions regarding Broken Coast, including expected growth, results of operations, performance, industry trends and growth opportunities. While the Company considers these assumptions to be reasonable, based on information currently available, they may prove to be incorrect. Readers are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements also 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; the possibility that the Company be unable to successfully integrate Broken Coast as described herein; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the medical marijuana industry in Canada generally, income tax and regulatory matters; the ability of Aphria to implement its business strategies; competition; crop failure; currency and interest rate fluctuations and other risks. Any forward-looking statements or facts (including financial information) related to Broken Coast discussed or disclosed herein are derived from information obtained directly from Broken Coast and publicly available sources and has not been independently verified by the Company.
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.
Invictus MD Increases 2019 Target Capacity to 76,000 kg
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/01/15/IMH-IVITF-Invictus-MD-Increases-2019-Target-Capacity-to-76000-kg
Vancouver, BC -- Jan. 15, 2018 -- / D.M.O. Newswire / -- INVICTUS MD STRATEGIES CORP. ("Invictus MD" or the "Company") (TSXV:IMH) (OTC:IVITF) (FRA:8IS1) is pleased to announce that since the release of its financial results for the third quarter ended October 31, 2017, which were filed on SEDAR on December 22, 2017, the Company has received $9,484,547 from the exercise of previously issued warrants and options. A total of 5,660,072 warrants and 21,000 options were exercised for proceeds of $9,476,167 and $8,380, respectively. As a result of such exercises, the Company currently has a total of 85,860,378 common shares issued and outstanding.
Invictus MD’s current cash balance is approximately $32 million. The target production capacity for 2019 is approximately 76,000 kg based on expanding facilities in 2019 to approximately 520,000 square feet. Invictus MD still has approximately 18.7 million warrants outstanding that would bring cash into the Company of approximately $33 million.
On January 8, 2018 the Company reported AB Labs received its authorization by Health Canada to sell dried marijuana under the ACMPR (“Sales License”). AB Labs which has 130 kg of dried marijuana in its vault intends to sell 100% of this inventory in January 2018 to Canopy Growth Corporation (TSX:WEED), initiating its first revenue stream since inception.
Invictus MD’s total annual kilogram capacity after various phases of expansion in 2018 and 2019, complete and in progress, is expected to be approximately 76,000 kg. The expected net production capacity to Invictus MD of approximately 67,000 kg after giving effect to the additional investment contemplated in its Letter of Intent with AB Labs that will bring Invictus MD’s ownership of AB Labs to 50%. With the recent exercise of warrants and options, Invictus MD’s funded capacity today is approximately 20,650 kg.
REST OF ARTICLE: https://www.dailymarijuanaobserver.com/single-post/2018/01/15/IMH-IVITF-Invictus-MD-Increases-2019-Target-Capacity-to-76000-kg
Two Analysts Increase Price Target for Aphria Inc.
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/01/11/APH-APHQF-Two-Analysts-Increase-Price-Target-for-Aphria-Inc
Two different firms have recently updated their buy ratings for shares of Aphria Inc. (TSX:APH) (OTC:APHQF) (FRA:10E) closely following the company's announcement that it has entered a strategic relationship with Double Diamond Farms to provide an additional 120,000 kgs of annual cannabis production, as well as the company's announcement that it increased revenues by 39%.
The analysts' 12-month price targets both provide tremendous upside potential for shares of Aphria, so we wanted to fill in existing and prospective investors on the price targets and the theses behind them.
Canaccord Genuity
Matt Bottomley, the Alternative Pharmaceuticals Research Analyst at Canaccord Genuity reiterated his buy rating on shares of Aphria. Bottomley' price target for the stock is $23.00 CAD per share, equivalent to roughly $18.36 USD. At the time of writing this, shares of Aphria on the TSX were trading at $20.94 CAD per share, representing over 9.8% upside potential.
Bottomey's $23 CAD price target is just north of the average analyst price target of $19.42, according to TipRanks. With that said, the $23 CAD price target is below the price target from Noel Atkinson at Clarus.
Clarus Securities
Noel Atkinson, CFA, the Vice President of Equity Research at Clarus Securities, also reiterated his buy rating on shares of Aphria. Atkinson's price target for the stock is $25.25 CAD per share, equivalent to roughly $20.13 USD. At the time of writing this, shares of Aphria on the TSX were trading at $20.94 per share, representing over 20% potential upside.
Atkinson stated:
“We have increased our CY19 and FY20 (May) estimates as a result of the higher capacity outlook, and we expect the minority interest offset in Adj. EBITDA to be relatively modest. Our price target rises to C$25.25 per share (was C$23.25) or 20x CY2019 (12 months ending February 2020) EV/Adj. EBITDA. We maintain our Buy rating but caution of high intra- day and inter-day share price volatility being seen across the cannabis LP sector."
This is the highest price target out of the three analysts covering the company.
For more Canadian Licensed Producer stocks, check out our Canadian LP stock database. Be sure to subscribe to one or more of our free newsletters so you never miss an important marijuana stock update. Also, don't forget to connect with The Daily Marijuana Observer on social media via Facebook, Twitter, StockTwits, and Instagram.
Namaste and Phivida Announce Exclusive Supply Agreement
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/01/11/N-NXTTF-Namaste-and-Phivida-Announce-Exclusive-Supply-Agreement
VANCOUVER, British Columbia, Jan. 11, 2018 (GLOBE NEWSWIRE) -- Namaste Technologies Inc. (“Namaste” or the “Company”) (CSE:N), (FRANKFURT:M5BQ), (OTC:NXTTF) is pleased to announce that it has signed a Global Digital Reseller-Supply Agreement (the “Agreement”) with Phivida Holdings Inc. (“Phivida”) (CSE:VIDA), (OTC:PHVAF).
As key terms in the agreement, Namaste has been approved as the preferred global online retailer and digital affiliate marketing partner for Phivida’s product line of premium hemp-derived Cannabidiol (“CBD”) infused functional beverages and clinical health products. The agreement includes a global online territory, targeting the launch in Germany and Australia (the “Territories”).
Phivida CBD beverages, extracts, juices and shots are professionally formulated by health care practitioners, made with premium ingredients, tested for quality, safety and manufactured to GMP standards. This Agreement represents a strategic initiative between both companies to promote high quality CBD products through Namaste’s platform and to the Company’s existing databases of users within the Territories. CBD is a cannabinoid compound which can be derived from both cannabis and hemp plants and plays a vital role in the emerging global medical cannabis market.
With Phivida’s management team having a strong background from the beverage industry and branding, including former senior executives from Redbull, Proctor and Gamble and McKesson’s, Namaste is pleased to be able to offer Phivida’s premium CBD beverages and infusions to its patients and practitioners globally, with an initial launch in Australia and Germany.
Terms of the Agreement
Namaste has exclusive rights for online retail of Phivida’s products in the Territories
The Agreement is valid for a 24-month period
The Agreement payment terms are net 30 days
Namaste shall be responsible for delivery costs
Namaste will under no circumstance retail PHIVIDA products for a price that is less than the regular retail price at which the products are advertised on PHIVIDA’s website
The Agreement states that all online product marketing expenses within the Territories will be shared equally between PHIVIDA and Namaste
The Agreement is subject to obtaining a legal opinion from a designated legal firm, agreed to by both parties
Namaste’s globally diversified network of e-commerce sites and distribution centers will allow Namaste, in its partnership with Phivida, to reach users in new and emerging medical cannabinoid based medical and consumer health markets. This Agreement further represents Namaste’s commitment to deploy its strategic initiatives in an effort to bring the most innovative products to market. Namaste’s growing global database of consumers continues to provide value to the Company and its partners, as it aims to leverage its technical expertise relating to its cutting-edge SEO and machine learning technologies.
This Agreement represents a pilot project between both companies whereby Namaste will distribute Phivida’s proprietary CBD beverages and infused products within the designated territories. Both companies intend on further expanding distribution through other markets where Namaste maintains significant market share.
While the Canadian market remains a primary focus for Namaste, it has identified additional opportunities in the Australian and German markets, as both countries continue to demonstrate a keen willingness to move closer towards full legalization. This partnership will allow Namaste to transition seamlessly into both markets, as it looks to broaden the scope of the products and services it provides. This Agreement represents an important step for Namaste as it looks to expand its presence into emerging markets and believes Phivida’s CBD beverages, oils and infusions offer Namaste an incredible opportunity to expand its offering globally.
Management Commentary
Sean Dollinger, President and CEO of Namaste comments: “Namaste is extremely excited to be partnering with Phivida and its world-class management team. We’re looking forward to entering the beverage space together with Phivida as we believe there is significant demand for these products in our market. Many of our successes to this point can be largely attributed to our keen ability in identifying industry leaders and then forming strategic alliances. Our partnership with Phivida further demonstrates that ability, and we feel very optimistic to be collaborating with a management team whose pedigree speaks for itself. We would like to thank Phivida for granting Namaste rights of its online retail products in the Territories, as we expand our presence globally.
We fully expect this partnership to evolve and fully intend on exhausting all opportunities whereby both parties are able grow and expand their respective market share. Not only does this offer Namaste the ability to expand its product line but so too does it help us in penetrating new markets as we look to create the world’s most expansive online medical cannabis marketplace.”
John - David Belfontaine, President and CEO of Phivida reports: “As Phivida continues to expand is CBD product offerings into a $1 Trillion global health and wellness marketi, it is critical that we secure the strongest distribution partners. Ecommerce and digital marketing is a core horizontal within our greater strategic business plan, and Namaste is an ideal partner to expand our online presence into emerging markets around the world. We look forward to launching our global digital marketing and distribution platform with Namaste’s support as a key strategic partner.”
About Namaste Technologies Inc.
Namaste is the largest online retailer for medical cannabis delivery systems globally. Namaste distributes vaporizers and smoking accessories through e-commerce sites in 26 countries and with 5 distribution hubs located around the world. Namaste has majority market share in Europe and Australia, with operations in the UK, US, Canada and Germany and has opened new supply channels into emerging markets including Brazil, Mexico and Chile. Namaste, through its acquisition of Cannmart Inc., a Canadian based late-stage applicant for a medical cannabis distribution license (under the ACMPR Program) is pursuing a new revenue vertical in online retail of medical cannabis in the Canadian market. Namaste intends to leverage its existing database of Canadian medical cannabis consumers, along with its expertise in e-commerce to create an online marketplace for medical cannabis patients, offering a larger variety of product and a better user experience.
About Phivida
Phivida [“fiii-vee-daa”] is a publicly traded company listed on the Canadian Securities Exchange under the ticker symbol “VIDA”. Phivida is a premiere brand of cannabidiol (“CBD”) infused functional foods, beverages and clinical health products, poised for global distribution. Using nanoencapsulation technology, Phivida converts lipid based cannabinoids into water soluble delivery format, enhancing bioavailability, and timed released within the body. Phivida’s nanoencapsulated CBD is infused into CBD beverages, foods and supplements containing a proprietary blend of phytonutraceuticals studied to target a range of health conditions, from chronic pain to terminal diseases. Phivida Enhanced Inc. (a wholly owned subsidiary of Phivida Holdings Inc.) is the clinical division of Phivida responsible for the formulation, manufacturing and distribution of the professional line clinical products under the brand name Vida+. These clinical grade CBD products include sublingual’s, hard capsules and other full spectrum CBD-hemp oil extract infused nutraceuticals and natural health products. The Vida+ label is a professional line of products clinical grade for higher potency and are third party laboratory tested for cannabinoid potency, terpenes, residual solvents, bacteria and pesticides. Celebrating; Health and Wellness, In Harmony™, Phivida’s mission is to lead the alternative health care sector as the benchmark quality standard in premium cannabinoid infused foods, beverages and clinical products, with a dedication to research, education and investing back into the communities that we so proudly serve.
For investor relations inquiries and updates, please contact Phivida via the information listed below.
Website www.phivida.com
Toll free +1 (844) 744-6646 (ext. #2)
E-mail IR@phivida.com
Twitter https://twitter.com/Phivida
Facebook https://www.facebook.com/phivida
YouTube https://www.youtube.com/watch?v=YqvHSMbhKwQ&t=7s
Forward Looking Information
This press release contains forward-looking information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law.
Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on www.sedar.com.
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The CSE has neither reviewed nor approved the contents of this press release.
On behalf of the Board of Directors
“Sean Dollinger”
Chief Executive Officer
Direct: +1 (786) 389 9771
Email: info@namastetechnologies.com
Further information on the Company and its products can be accessed through the links below:
www.namastetechnologies.com
www.namastevaporizers.co.uk
www.everyonedoesit.co.uk
Canopy Rivers Closes Oversubscribed $26 Million CAD Financing Round
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/01/10/WEED-TWMJF-Canopy-Rivers-Closes-Oversubscribed-26-Million-CAD-Financing-Round
SMITHS FALLS, ON and TORONTO, Jan. 10, 2018 /CNW/ - Canopy Growth Corporation ("Canopy Growth") (TSX:WEED) is pleased to announce that its partly owned subsidiary, Canopy Rivers Corporation ("Canopy Rivers") has closed a non-brokered private placement offering of 23,636,363 Class B common shares (the "Shares") at a price of $1.10 per Share. Pursuant to the offering, Canopy Rivers raised aggregate gross proceeds of approximately $26 million. Canopy Growth subscribed for 4,673,938 Shares for $5,141,331.80.
"Canopy Rivers has efficiently allocated the initial capital and quickly established an attractive portfolio of diversified investments including licensed producers, late stage applicants, ancillary product developers, and industry leading brands," says Bruce Linton, CEO of Canopy Growth & Chairman of Canopy Rivers.
Founded in April 2017, Canopy Rivers was formed to complete streaming deals to flow product through Canopy Growth's platform and diversify supply channels to satisfy the needs of Canada'slargest group of cannabis customers. As the Canopy Rivers leadership team evaluated the landscape and identified additional deal potential, a more robust business model matured to complement streaming activities. Today, Canopy Rivers has a portfolio of diversified investments and represents a balanced mix of equity, debt, royalty and profit sharing investment structures.
"Our team has curated a tier one group of complimentary but unique investee companies in a short period of time," said Sean McNulty, Co-founder of Canopy Rivers. "We have pioneered a series of offtake and strategic support programs and efficiently leveraged the resources of Canopy Growth's cannabis production and distribution platform in a way that creates long term value for our investors."
Canopy Growth controls the majority voting rights in Canopy Rivers and holds an approximate 30% equity stake on a non-diluted basis. The balance of Canopy Rivers shares are held by strategic partners and private investors, including members of both Canopy Growth and Canopy Rivers who participated in this funding round.
"The cannabis investment landscape continues to become more crowded and difficult for investors to track, evaluate, and differentiate. Canopy Rivers offers its investors financial exposure to a funnel of domestic and international opportunities, with both private and public companies, in risk-mitigated structures that are typically not prevalent in conventional financial markets. This funnel is filtered, evaluated, and scrutinized by a team of financial and legal professionals, and ultimately vetted by the largest and most sophisticated cannabis company in the world. We are in the infancy of this globally emerging industry and our pipeline of opportunities has never been more robust," says Peter Hatziioannou, Co-founder of Canopy Rivers.
Proceeds of the private placement will be used to provide growth capital in various forms, including but not limited to, the purchase of a right to cannabis production, royalty transactions and other strategic investments in or providing financing for companies either licensed to produce cannabis or companies that have applied, or are in the process of applying, for a license to produce cannabis as well as for working capital and general corporate purposes. Rivers is committed to exclusively investing and supporting firms operating in federally legal jurisdictions.
About Canopy Growth Corporation
Canopy Growth is a world-leading diversified cannabis and hemp company, offering distinct brands and curated cannabis varieties in dried, oil and Softgel capsule forms. From product and process innovation to market execution, Canopy Growth is driven by a passion for leadership and a commitment to building a world-class cannabis company one product, site and country at a time.
Canopy Growth has established partnerships with leading sector names including cannabis icon Snoop Dogg, breeding legends DNA Genetics and Green House seeds, and Fortune 500 alcohol leader Constellation Brands, to name but a few. Canopy Growth operates seven cannabis production sites with over 665,000 square feet of production capacity, including over 500,000 square feet of GMP-certified production space. The Company has operations in seven countries across four continents. The Company is proudly dedicated to educating healthcare practitioners, conducting robust clinical research, and furthering the public's understanding of cannabis, and through its partly owned subsidiary, Canopy Health Innovations, has devoted millions of dollars toward cutting edge, commercializable research and IP development. Through partly owned subsidiary Canopy Rivers Corporation, the Company is providing resources and investment to new market entrants and building a portfolio of stable investments in the sector. From our historic public listing to our continued international expansion, pride in advancing shareholder value through leadership is engrained in all we do at Canopy Growth.
About Canopy Rivers
Canopy Rivers is a diversified investment platform designed to maximize shareholder value. Through a strategic alliance with Canopy Growth and the sector's leading investment strategists, Canopy Rivers adds value to the businesses it selects as investments. Learn more by visiting www.canopyrivers.com
Notice Regarding Forward Looking Information
This news release contains forward-looking information. Often, but not always, forward-looking information 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 information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Canopy Growth, its subsidiaries or Canopy Rivers to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained in this news release. Examples of such statements include the pipeline of domestic and international investment opportunities, the creation of long-term value for investors, the use of proceeds of the offering and the timing of a potential go public transaction for Canopy Rivers. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information, including risks associated with: anticipated business strategies and trends in the business or the cannabis industry that could cause actual results or events to differ materially from those expressed or implied by the forward-looking information; risks related to the regulatory and legal framework of cannabis production, cultivation and sale in Canada and abroad; absence of control over the operations of the investment partners and having to rely on the accuracy of the public disclosure and other information received from the owners and operators of the investment partners as the basis for its analyses, forecasts and assessments relating to its own business; the satisfaction of each party's obligations in accordance with the terms of investment agreements; fluctuations in the price of cannabis products; the Company's relationship with Canopy Rivers; general business, economic and competitive uncertainties; market risks; and other risks contained in the Company's annual information form dated June 28, 2017 and filed with Canadian securities regulators available on the Company's issuer profile on SEDAR at www.sedar.com. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed time frames or at all. The forward-looking information included in this news release is made as of the date of this news release and the Company does not undertake an obligation to publicly update such forward-looking information to reflect new information, subsequent events or otherwise unless required by applicable securities legislation.
Medical Marijuana, Inc. Announces Promotion of Chief Marketing Officer
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/01/10/MJNA-Medical-Marijuana-Inc-Announces-Promotion-of-Chief-Marketing-Officer
SAN DIEGO, Jan. 10, 2018 /PRNewswire/ -- Medical Marijuana, Inc. (OTC:MJNA), the first publicly traded cannabis company in the United States, today announced that its Chief Marketing Officer Stephen Jones has been promoted to President of the Company's subsidiary HempMeds®. Jones will also remain in his dual role as Chief Marketing Officer of Medical Marijuana, Inc.
Jones, who joined Medical Marijuana, Inc. in September 2017, has nearly 20 years of experience in the direct sales, finance, and international logistics industries. A native of Sheffield, England, Stephen holds a B.A. in Business & Marketing from Sheffield Hallam University and currently manages the creation, development and execution of the long-term strategic brand marketing goals across the different products and brands.
"We are excited to have Mr. Jones step up and take on more responsibility in the Company and continue to provide insightful creative and strategic direction," said Medical Marijuana, Inc. CEO Dr. Stuart Titus. "Since joining our organization, he has helped the Company find a clear brand voice and we think that HempMeds® can definitely benefit from this type of leadership."
HempMeds® was the first company to ever bring hemp-based cannabidiol (CBD) oil products to market in the U.S. in 2012 -- and the first to both make CBD products available in bulk for U.S. consumers and also provide high-quality CBD hemp oil to customers around the world. HempMeds® was also the first-ever company to received historic federal government import approvals for its CBD products in the nations of Brazil, Mexico and Paraguay.
In his new role, Jones will oversee all facets of the HempMeds® organization, focusing on continued growth and international market expansion. Jones, who has experience in product development and marketing, plans to launch innovative new product offerings and help gain and maintain product registrations in many Latin American and European countries.
"I'm absolutely thrilled about this new leadership opportunity within the Medical Marijuana, Inc. portfolio of companies," said Jones. "HempMeds is a company with a rich background as one of the companies that helped create the hemp CBD industry, and has helped people all over the world with our innovative product lines. I'm excited to play a role in strengthening the HempMeds® brand and continuing to develop the Company as the market for CBD products continues to expand across the globe."
About HempMeds®
HempMeds® is a corporate portfolio company of Medical Marijuana, Inc. (OTC:MJNA) and the Company's exclusive master distributor and contracted marketing company, handling sales and distribution.
About Medical Marijuana, Inc.
We are a company of firsts®. Our mission is to be the premier cannabis and hemp industry innovators, leveraging our team of professionals to source, evaluate and purchase value-added companies and products, while allowing them to keep their integrity and entrepreneurial spirit. We strive to create awareness within our industry, develop environmentally-friendly, economically sustainable businesses, while increasing shareholder value. For details on Medical Marijuana, Inc.'s portfolio and investment companies, visit www.medicalmarijuanainc.com.
To see Medical Marijuana, Inc.'s corporate video, click here.
Shareholders and consumers are also encouraged to buy CBD oil and other products at Medical Marijuana, Inc.'s shop.
FORWARD-LOOKING DISCLAIMER
This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Medical Marijuana, Inc. to be materially different from the statements made herein.
FOOD AND DRUG ADMINISTRATION (FDA) DISCLOSURE
These statements have not been evaluated by the FDA and are not intended to diagnose, treat or cure any disease.
LEGAL DISCLOSURE
Medical Marijuana, Inc. does not sell or distribute any products that are in violation of the United States Controlled Substances Act (US.CSA). These companies do grow, sell, and distribute hemp-based products and are involved with the federally legal distribution of medical marijuana-based products within certain international markets. Cannabidiol is a natural constituent of hemp oil.
CanniMed Announces German Distribution Agreement with Fagron
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/01/10/CMED-CMMDF-CanniMed-Announces-German-Distribution-Agreement-with-Fagron
SASKATOON, Saskatchewan--(BUSINESS WIRE)--CanniMed Therapeutics Inc. (TSX:CMED) (OTC:CMMDF) (“CanniMed” or the “Company”) is pleased to announce that it has entered into a global marketing and distribution agreement (the “Agreement”) with the leading global pharmaceutical compounding company Fagron NV of Rotterdam, The Netherlands (Euronext Brussels: FAGR and Euronext Amsterdam: FAGR). Under the Agreement, Fagron and CanniMed will work closely together in utilizing Fagron’s extensive infrastructure to supply CanniMed’s medicinal cannabis products in Germany and other specified countries. Pursuant to the terms of the Agreement, CanniMed is working to supplement its Canadian GMP compliant status with GMP certification in Europe for its cannabis products, which it anticipates will be achieved in Q2 2018. Fagron and CanniMed anticipate first product sales into Germany will commence in Q3 2018, subject to obtaining required export permits.
Pursuant to the Agreement, CanniMed is Fagron’s supplier of cannabis products in the specified countries and the two companies will commit resources to develop and execute a combined marketing and distribution strategy to establish CanniMed as a strong brand in these countries.
“Fagron is perfectly positioned in the highly attractive German market as well as several other countries to drive the penetration of our pharmaceutical grade cannabis products. Our first primary target market, Germany, is particularly exciting as it has legalized medicinal cannabis for distribution through pharmacies and with a population of over 82 million which is more than double that of Canada” said Brent Zettl, President and CEO, CanniMed. “Fagron brings the connections, experience and market credibility to be a highly impactful partner for us internationally. We anticipate that the majority of medicinal cannabis products demanded in these countries will be oils and oil derivate products such as capsules, sublingual wafers and topical creams. The first 12 million 60 ml bottles phase of our 50 million bottles per year oils plant will be coming onstream in late 2018 and will be the foundation for meeting escalating international and domestic medicinal oils demand.”
Rafael Padilla, CEO of Fagron stated “We are very pleased to be working with an industry-leading company such as CanniMed and we believe the German market is a prime target for CanniMed’s highly respected cannabis products, driven by widespread acceptance in Germany of the many medicinal benefits of cannabis. We believe CanniMed has the opportunity to become a long-term major medicinal brand in Germany, where demand for medicinal cannabis products exceeds supply. We are confident that our depth of cannabis and pharmaceutical experience together with our established marketing infrastructure and connections in Germany and other countries combined with CanniMed’s leading expertise and products will be very effective in achieving international market penetration of CanniMed’s products.”
About CanniMed Therapeutics Inc.
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, the Company 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 cannabis system for 13 years, and has been producing safe and consistent medical cannabis 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).
About Fagron NV
Fagron NV, located in Waregem, Belgium and with operational head office in Rotterdam, The Netherlands, is publicly listed (FAGR) on Euronext in Brussels, Belgium and Amsterdam, The Netherlands. Fagron has over 2,000 employees and is active in 34 countries around the world, with a focus on the core regions Europe, South America and the United States. Fagron is a leading global pharmaceutical compounding company, bringing personalized pharmaceutical care to hospitals, pharmacies, clinics and patients.
In Germany, Fagron’s extensive infrastructure is connected into the country’s approximately 22,000 pharmacies, where it is active in distributing a wide range of pharmaceutical products.
For the year ended December 31, 2016 Fagron reported global revenue of €422 million ($CAN633 million) and EBITDA of €87 million ($CAN130 million).
Notice Regarding Forward Looking Statements
This news release contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of CanniMed to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.
These forward-looking statements include, but are not limited to, statements relating to our expectations with respect to: anticipated product sales revenue by CanniMed and first product sales in Q3 2018. 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. In respect of the forward-looking statements and information concerning the Agreement and its anticipated benefits. CanniMed has provided such statements and information in reliance on certain assumptions that it believes are reasonable at this time, including assumptions as to the ability of CanniMed to obtain all required permits and approvals for sales to Germany. There can be no assurance that the revenue to be generated from product sales will not be adversely affected by production or supply delays and changes in market prices. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release.
Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks including delays in permitting and production. Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on other factors that could affect the operations of CanniMed are included in documents on file with applicable securities regulatory authorities, including the Annual Information Form of CanniMed dated December 8, 2017, available on sedar.com.
The forward-looking statements contained in this news release are made as of the date of this release and, accordingly, are subject to change after such date. CanniMed does not assume any obligation to update or revise any forward-looking statements, whether written or oral, that may be made from time to time by us or on our behalf, except as required by applicable law.
Neither the Toronto Stock Exchange or its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Gridiron Announces Endorsement from World's Strongest Man Competitor
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/01/09/GMVP-Gridiron-Announces-Endorsement-from-Worlds-Strongest-Man-Competitor
SPOKANE, Wash., Jan. 9, 2018 /PRNewswire/ -- Gridiron BioNutrients™ (OTC:GMVP), a nutraceutical innovator specializing in Cannabidiol ("CBD") health and wellness products to the individual, (the "Company" or "Gridiron") announced today World's Strongest Man contender Robert Oberst ("Oberst") will be endorsing the Gridiron CBD product line. Oberst was awarded his pro card at the 2012 Dallas Europa Amateur Strongman Competition and since then has competed all over the world in strongman competitions; Oberst holds the American record for the log lift (465 lb.), done at the Arnold Strongman Classic in Australia 2015.
"As a proponent of CBD, I am honored to officially be a part of the Gridiron team and look forward to using the Gridiron products as part of my nutritional regime. I am also excited to assist in educating athletes regarding the potential benefits CBD can provide in maximizing workouts, speeding up recover and overall benefits CBD may provide to their health and wellness," said Oberst. "Gridiron is looking to partner with ambassadors of CBD whom through their own experiences can articulate the potential benefits of utilizing CBD as part of their daily nutrition; Oberst's drive for excellence and Gridiron's determination to provide innovative nutrition through CBD health and wellness products are aligned, we look forward to this partnership with Robert Oberst," commented Tim Orr, President of Gridiron BioNutrients™.
Oberst's personal records include:
Deadlift
880 lb (400 kg)
Bench Press
650 lb (290 kg)
Squat
950 lb (430 kg)
Overhead Press
490 lb (220 kg)
Currently, Robert Oberst is planning to compete in the Log World Championships in Leeds, England- April 2018 and in the World's Strongest Man Competition-May 2018 among other strongman competitions in 2018. Oberst can be followed on Instagram:
https://www.instagram.com/robertoberst/.
About Gridiron BioNutrients™
Gridiron is focused on the development and commercialization of high quality innovative CBD products within the health and wellness marketplace; Gridiron strives to formulate and design products that maximize the human body's potential to enable individuals to heal faster, train longer and recover quicker.
https://gridironbionutrients.com
Safe Harbor for Forward-Looking Statements: 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 Gridiron BioNutrients™ (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.
Cannabis Wheaton Announces Investment in Inner Spirit Holdings Ltd.
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/01/09/CBW-Cannabis-Wheaton-Announces-Investment-in-Inner-Spirit-Holdings-Ltd
VANCOUVER, British Columbia, Jan. 09, 2018 (GLOBE NEWSWIRE) -- Cannabis Wheaton Income Corp. (d/b/a Wheaton Income) (TSX:CBW) ("Wheaton Income" or the "Company") is pleased to announce that it has entered into an investment agreement (the "Investment Agreement") with Inner Spirit Holdings Ltd. ("Inner Spirit") providing for a strategic investment by the Company in Inner Spirit, as well as a strategic alliance agreement (the "Strategic Alliance Agreement") that will govern the ongoing business relationship between the parties (collectively, the "Transaction").
Inner Spirit is the parent company of Spirit Leaf Inc. ("Spirit Leaf"), 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 legalized. Inner Spirit has currently executed over 95 franchise agreements in Canada for proposed retail locations (each an "Spiritleaf Retail Dispensaries").
Under the terms of the Investment Agreement, the Company will acquire 15,000,000 common shares of Inner Spirit (the "Inner Spirit Shares"), representing approximately a 18.5% of the outstanding Inner Spirit Shares. In exchange for the Inner Spirit Shares, the Company will provide Inner Spirit with: (i) a cash payment of $350,000, (ii) 674,418 common shares of the Company, each with an issue price of $2.15 per common share, and (iii) 1,250,000 common share purchase warrants of the Company (the "Warrants"), exercisable at $2.53 per common share for a period of 24 months from the closing of the Transaction. The Warrants are subject to certain vesting conditions related to Spirit Leaf achieving certain operational milestones.
Under the terms of the Strategic Alliance Agreement, the Company and Inner Spirit have agreed to enter into a supply agreement (the "Supply Agreement") granting the Company with the exclusive right to supply up to 50% of Inner Spirit’s annual inventory requirements for any cannabis, cannabis-infused or cannabis-derived products (collectively, "Cannabis Products") to be sold at Spiritleaf Retail Dispensaries. In addition to such exclusive supply right, the parties have agreed that the Supply Agreement will contain a mutually agreeable profit-sharing arrangement relating to sales of Cannabis Products. The parties have agreed to use their best efforts to enter into the Supply Agreement within 60 days following the closing of the Transaction.
“We are excited to form this alliance with Wheaton Income as strategic partners,” said Darren Bondar, President and CEO of Inner Spirit. “Their wealth of knowledge in the cannabis industry is a great asset for our company and our franchise partners. Upon legalization of recreational cannabis, we look forward to offering Wheaton and their streaming partners’ brands in Spiritleaf dispensaries and having a diverse and unique offering that customers will not be able to find anywhere else.”
Hugo Alves, President of Cannabis Wheaton stated, “Securing access to high-value distribution channels will bring tremendous benefit to Wheaton and all of our streaming partners. The strategic alliance with Inner Spirit allows us to partner with a strong management team with a successful track record of running multi-franchise retail operations which will give our streaming partners access to a strong distribution platform through which to showcase their products and brands. Darren and his team have designed an incredible concept for the dispensaries to create a high-end retail experience that we're excited to be a part of.”
Closing of the Transaction is expected to occur on or prior to January 12, 2018, subject to the receipt of all required approvals, including the approval of the TSX Venture Exchange.
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
About Inner Spirit
Inner Spirit is a specialty retailer and franchise company that is applying its successful model to the recreational cannabis market. The first and only Canadian cannabis company to be granted Canadian Franchise Association Membership to date, Inner Spirit intends to establish a chain of recreational cannabis dispensaries under its Spiritleaf brand, with the vision of becoming the leading private recreational cannabis retail chain in Canada. Spiritleaf aims to be the most knowledgeable and trusted source of recreational cannabis, offering a premium consumer experience with high-quality product brands.
For further information: Investor Enquiries: Darren Bondar, Chief Executive Officer, (403) 930-9303, darren.bondar@spiritleaf.ca; Franchise Enquiries: Courtney Richer, Franchise Relations, (403) 930-9300, franchise@spiritleaf.ca
Notice Regarding Forward Looking Statements:
This news release contains certain "forward-looking information" within the meaning of applicable Canadian securities law. Forward-looking information is frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or information that certain events or conditions "may" or "will" occur. This information is only a prediction. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking information throughout this news release. Forward-looking information includes, but is not limited to: the ability to consummate the Transaction, including the ability to obtain all necessary approvals to the completion of the Transaction, the Company’s ability to generate revenue through the Transaction, regulatory or political change, competition and other risks affecting the Company in particular and the cannabis industry generally. Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Neither the Company nor 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.
Namaste Signs Agreement with Cannamerx Cannabis Exchange
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/01/09/N-NXTTF-Namaste-Signs-Agreement-with-Cannamerx-Cannabis-Exchange
VANCOUVER, BRITISH COLUMBIA, Jan. 09, 2018 (GLOBE NEWSWIRE) -- Namaste Technologies Inc. (“Namaste” or the “Company”) (CSE:N)(FRANKFURT:M5BQ) (OTC:NXTTF) is pleased to announce that it has entered into a Services Agreement (the “Agreement”) with 3955 Trading Inc. (“Cannamerx”), Canada’s first online marketplace for the wholesale purchase of medical cannabis certified under the Access to Cannabis for Medical Purposes Regulations (“ACMPR”). Cannamerx is a fully automated, ACMPR-compliant forward auction trading platform for bulk cannabis and cannabis products in Canada. Developed in close collaboration with Canadian licensed producers, Cannamerx is designed to facilitate the trade of bulk cannabis and cannabis products between licensed producers throughout the country. Namaste believes that Cannamerx’s platform will offer strategic benefits to the Company’s wholly owned subsidiary, Cannmart Inc. (“Cannmart”), which is a late stage ACMPR applicant for a medical cannabis “sale-only” license. Through Cannmart, Namaste will create an online retail marketplace for medical cannabis that will offer the largest variety of products sourced from ACMPR licensed producers as well as international cultivators.
Terms of the Agreement:
All bids submitted over the platform are binding;
Sale transactions are Ex Works;
Cannamerx offers strong buyer protection to ensure products match descriptions;
Cannamerx ensures that all ACMPR compliant;
Cannamerx is strictly a business to business marketplace;
Cannamerx does not charge sign-up or listing fees;
Cannamerx does not charge any buyer commission;
Bidding on Cannamerx is anonymous; and
The Agreement is non-exclusive to Cannmart.
Using the Cannamerx platform will enhance Namaste’s ability to efficiently source cannabis and cannabis products from small-scale licensed producers throughout Canada, creating a diverse product selection for Cannmart’s online marketplace customers. While large licensed producers will continue to play a vital role in Namaste’s distribution, the Company believes that the Agreement will allow the Company to connect customers with the craft cannabis market, an important niche market that could experience significant growth similar to the craft beer and wine industries.
In addition to the announcement of the Agreement, Namaste would like to announce that Mr. Clifford Stark will be leaving Namaste’s board of directors in pursuit of a new business venture. Mr. Stark has provided Namaste with valuable advice and insight during his position as an active board member of Namaste’s team. The Company would like to thank Mr. Stark for his service and wishes him best of luck in his future endeavors.
Management Commentary
“We are proud to welcome Namaste to Cannamerx,” said Dietwald Claus, CEO of 3955 Trading Inc., which owns and operates Cannamerx. “We developed Cannamerx to provide Canadian licensed producers with an effective, easy-to-use, ACMPR-compliant platform for the trade of wholesale cannabis and cannabis products in Canada. By bringing together licensed producers, processors, and retailers from across the country on a single trading platform, we anticipate that Cannamerx will play a critical role in growing a diversified and robust Canadian cannabis industry. Namaste’s decision to join Cannamerx is a strong vote of confidence in our technology and business model. We look forward to welcoming more participants over the coming months as Canada prepares to legalize recreational cannabis.”
Sean Dollinger, President and CEO of Namaste comments, “This Agreement represents a unique opportunity for both parties, as we look for new ways to increase the appeal of our online marketplace. Our relationship with Cannamerx is not intended to replace our existing supply channels, but rather to broaden the selection of quality cannabis products that we are able to provide to our customers. Namaste believes Cannamerx fits well with our purchasing strategy moving forward, and we anticipate Cannamerx playing a significant role in helping us access cannabis from smaller licensed producers to supply Canadian consumers with the most diverse selection in a cannabis space.”
“In addition to the benefits Cannamerx provides Namaste, we believe Cannamerx provides a great channel for licensed producers looking to wholesale their cannabis. Namaste is committed to providing Canadian cannabis users with easy access to the widest range of cannabis products and this agreement helps fast track our efforts in achieving those goals.”
About Namaste Technologies Inc.
Namaste is the largest online retailer for medical cannabis delivery systems globally. Namaste distributes vaporizers and smoking accessories through e-commerce sites in 26 countries and with 5 distribution hubs located around the world. Namaste has majority market share in Europe and Australia, with operations in the UK, US, Canada and Germany and has opened new supply channels into emerging markets including Brazil, Mexico and Chile. Namaste, through its acquisition of Cannmart Inc., a Canadian based late-stage applicant for a medical cannabis distribution license (under the ACMPR Program) is pursuing a new revenue vertical in online retail of medical cannabis in the Canadian market. Namaste intends to leverage its existing database of Canadian medical cannabis consumers, along with its expertise in e-commerce to create an online marketplace for medical cannabis patients, offering a larger variety of product and a better user experience.
On behalf of the Board of Directors
“Sean Dollinger”
Chief Executive Officer
Direct: +1 (786) 389 9771
Email: info@namastetechnologies.com
Further information on the Company and its products can be accessed through the links below:
www.namastetechnologies.com
www.namastevaporizers.co.uk
www.everyonedoesit.co.uk
FORWARD-LOOKING INFORMATION This press release contains forward-looking information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, Namaste assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents, which can be found under the Company's profile on www.sedar.com. This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbour provisions of the Private Securities Litigation Reform Act of 1995. The CSE has neither reviewed nor approved the contents of this press release.
Aurora Cannabis Appoints Cam Battley as Chief Corporate Officer
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/01/08/ACB-ACBFF-Aurora-Cannabis-Appoints-Cam-Battley-Chief-Corporate-Officer-CCO
EDMONTON, Jan. 8, 2018 /CNW/ - Aurora Cannabis Inc. (the "Company" or "Aurora") (TSX:ACB) (OTC:ACBFF) (Frankfurt: 21P; WKN: A1C4WM) is pleased to announce that Cam Battley has been promoted to Chief Corporate Officer (CCO).
Mr. Battley joined the Company in March, 2016, and previously held the positions of Executive Vice President and Senior Vice President with Aurora. In his new role, he will be the lead external-facing executive of the Company, responsible for establishing and managing relationships with shareholders, industry analysts, news media, securities regulators, licensing bodies, governments, other companies and organizations operating in the cannabis sector, and other external stakeholders. He will also chair the Executive Committee, work closely with the Company's legal counsel, act as liaison with the Board of Directors, and ensure organizational alignment with regard to strategic partnerships and corporate development across all of the Company's operations, domestic and international.
Mr. Battley, who has more than 15 years of experience in the global biopharmaceutical industry, is a member of the Board of Directors of Cannabis Canada, the trade association for Health Canada Licensed Producers. He also currently serves as a member of the Board of the patient advocacy group Campaigning for Cancer (South Africa), and of Micron Waste Technologies Inc. (CSE: MWM), a Vancouver-based developer of advanced digesters for organic waste materials.
"Cam's experience, judgment, energy, and passion for this business have been key drivers in Aurora's rapid emergence as a leader in the global cannabis industry," said Terry Booth, CEO. "I am extremely proud of the quality, competence and consistent execution of our executive team, and am delighted that Cam will be playing a central role with Aurora as we accelerate our domestic and international expansion."
About Aurora
Aurora's wholly-owned subsidiary, Aurora Cannabis Enterprises Inc., is a licensed producer of medical cannabis pursuant to Health Canada's Access to Cannabis for Medical Purposes Regulations ("ACMPR"). The Company operates a 55,200 square foot, state-of-the-art production facility in Mountain View County, Alberta, known as "Aurora Mountain", a second 40,000 square foot high-technology production facility known as "Aurora Vie" in Pointe-Claire, Quebec on Montreal's West Island, and is currently constructing an 800,000 square foot production facility, known as "Aurora Sky", at the Edmonton International Airport, as well as is completing a fourth facility in Lachute, Quebec through its wholly owned subsidiary Aurora Larssen Projects Ltd.
In addition, the Company holds approximately 17.23% of the issued shares in leading extraction technology company Radient Technologies Inc., based in Edmonton, and is in the process of completing an investment in Edmonton-based Hempco Food and Fiber for an ownership stake of up to 50.1%. Furthermore, Aurora is the cornerstone investor with a 22.9% stake in Cann Group Limited, the first Australian company licensed to conduct research on and cultivate medical cannabis. Aurora also owns Pedanios, a leading wholesale importer, exporter, and distributor of medical cannabis in the European Union, based in Germany. The Company offers further differentiation through its acquisition of BC Northern Lights Ltd. and Urban Cultivator Inc., industry leaders, respectively, in the production and sale of proprietary systems for the safe, efficient and high-yield indoor cultivation of cannabis, and in state-of-the-art indoor gardening appliances for the cultivation of organic microgreens, vegetables and herbs in home and professional kitchens. Aurora's common shares trade on the TSX under the symbol "ACB".
On behalf of the Boards of Directors,
AURORA CANNABIS INC.
Terry Booth
CEO
This news release includes statements containing certain "forward-looking information" within the meaning of applicable securities law ("forward-looking statements"). Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
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.
Invictus MD to Increase Investment in AB Laboratories
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/01/08/IVITF-IMH-Invictus-MD-to-Increase-Investment-in-AB-Laboratories
Vancouver, BC -- January 8, 2018 -- / D.M.O. Newswire / -- INVICTUS MD STRATEGIES CORP. ("Invictus MD" or the "Company") (TSXV:IMH) (OTC:IVITF) (FRA:8IS1) is pleased to announce that the Company has entered into a Letter of Intent (“LOI”) to make a further strategic investment in the licensed production facility under the Access to Cannabis for Medical Purposes Regulations (“ACMPR”), AB Laboratories Inc. (“AB Labs”) located near Hamilton, Ontario, from its current 33.3% ownership interest to 50%. Additionally, the Company is pleased to announce that AB Labs has received the amendment to sell dried marijuana under the ACMPR (“Sales License”).
AB Labs has now received its Sales License to sell dried marijuana under the ACMPR. AB Labs has 130 kilograms of dried marijuana in its vault and intends to sell 100% of this inventory in January 2018 to Canopy Growth Corporation (TSX:WEED) initiating its first revenue stream since inception.
Dan Kriznic, Chairman and CEO commented, “This is a significant milestone for Invictus MD. We started this company in 2014 with the intention of becoming Canada’s Cannabis Company. AB Labs produces high quality strains, which will meet the increasing demand in the Canadian marketplace. We also expect to receive a sales license for Acreage Pharms Ltd. (“Acreage Pharms”) within the first quarter of 2018.”
The terms of the LOI include a direct cash investment in AB Labs for $10 million to be used for the expansion of AB Labs’ existing facility, acquisition of the land and building at the existing facility from the landlord and for the acquisition of an adjacent land and building including retrofitting costs towards the existing building on the adjacent property (the “Secondary Facility”), for a combined production space of approximately 56,000 square feet. Invictus MD will make available to AB Labs a $2 million line of credit in the event costs exceed budget during the construction period. The LOI is subject to various conditions including approval of Invictus MD’s board as well as satisfactory completion of due diligence. There can be no assurance that the transaction contemplated by the LOI will complete.
REST OF RELEASE: https://www.dailymarijuanaobserver.com/single-post/2018/01/08/IVITF-IMH-Invictus-MD-to-Increase-Investment-in-AB-Laboratories
Kush Bottles to Report First Quarter 2018 Earnings on Wednesday
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/01/08/KSHB-Kush-Bottles-to-Report-First-Quarter-2018-Earnings-on-Wednesday
SANTA ANA, Calif., Jan. 8, 2018 /PRNewswire/ -- Kush Bottles, Inc. (OTC:KSHB), a leading provider of packaging,supplies, vaporizers, accessories and branding solutions for the regulated cannabis industry, announced today it will issue its first quarter 2018 results press release on January 10, 2018 after U.S. markets close.
The company will also host a conference call on Wednesday, January 10, 2018 at 4:30 PM Eastern Time.
Participant Dial-In Numbers:
Toll-Free: 1-800-281-7973
Toll / International: 1-323-794-2093
*Participants should request the Kush Bottles Earnings Call or provide confirmation code 8151586
Investors are also invited to listen via webcast on the Kush Bottles investor section of the Company website at http://ir.kushbottles.com. Please visit the website at least 15 minutes prior to the call to register, download, and install any necessary audio software. A replay of the call will be available on the Kush Bottles investor website approximately two hours after the conference call has ended.
Nick Kovacevich, Chief Executive Officer of Kush Bottles, and Jim McCormick, Chief Financial Officer, will be answering shareholder questions at the end of the call. Should you have questions during or prior to the conference call please send an email to ir@kushbottles.com with "KUSH Question" in the subject line. Mr. Kovacevich and Mr. McCormick will answer as many questions as time will allow.
To be added to the distribution list please email ir@kushbottles.com with "Kush" in the subject line.
About Kush Bottles, Inc.
Kush Bottles, Inc. 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 4,000 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.
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.
Namaste Technologies Receives Cease Trade Order
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/01/08/NXTTF-Namaste-Technologies-Receives-Cease-Trade-Order
VANCOUVER, British Columbia, Jan. 08, 2018 (GLOBE NEWSWIRE) -- Namaste Technologies Inc. (“Namaste” or the “Company”) (CSE:N)(FRANKFURT:M5BQ)(OTC:NXTTF) discloses today that the filings of the Company’s annual financial statements for the fiscal year ended August 31, 2017, the related management’s discussion and analysis and the certification of the annual filings for the year ended August 31, 2017 (collectively, the “2017 Annual Financial Statements”) were not completed by the deadline of December 29, 2017. As a result, the British Columbia Securities Commission issued a cease trade order (the “Cease Trade Order”) against the Company and securities have been halted from trading on the Canadian Securities Exchange (“CSE”).
The Company is actively working with its auditors to file the 2017 Annual Financial Statements, which the Company expects to be completed imminently. Once the 2017 Annual Financial Statements are filed, the Company will seek to have the Cease Trade Order revoked. The Company will be forthcoming with an update on the 2017 Annual Financial Statements once the required filings have been made.
About Namaste Technologies Inc.
Namaste is the largest online retailer for medical cannabis delivery systems globally. Namaste distributes vaporizers and smoking accessories through e-commerce sites in 26 countries and with 5 distribution hubs located around the world. Namaste has majority market share in Europe and Australia, with operations in the UK, US, Canada and Germany and has opened new supply channels into emerging markets including Brazil, Mexico and Chile. Namaste, through its acquisition of Cannmart Inc., a Canadian based late-stage applicant for a medical cannabis distribution license (under the ACMPR Program) is pursuing a new revenue vertical in online retail of medical cannabis in the Canadian market. Namaste intends to leverage its existing database of Canadian medical cannabis consumers, along with its expertise in e-commerce to create an online marketplace for medical cannabis patients, offering a larger variety of product and a better user experience.
On behalf of the Board of Directors
“Sean Dollinger”
Chief Executive Officer
Direct: +1 (786) 389 9771
Email: info@namastetechnologies.com
Further information on the Company and its products can be accessed through the links below:
www.namastetechnologies.com
www.namastemd.com
www.namastevaporizers.co.uk
www.everyonedoesit.co.uk
mCig Subsidiary Lands Construction Contract With Florida Client
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/01/04/mCig-Subsidiary-Lands-Construction-Contract-With-Florida-Client
JACKSONVILLE, Fla., Jan. 04, 2018 (GLOBE NEWSWIRE) -- mCig, Inc. (OTC:MCIG), a leading distributor of innovative products, customized packaging solutions, technologies, and services for the global medical cannabis industry, announced today that its Grow Contractors (GC) division has secured an exclusive construction and management contract with a client in the state of Florida.
Florida’s evolving medical marijuana program has seen impressive growth with now more than 26,000 patients in Florida. Financial experts predict that the Florida medical marijuana market is on pace to break $1 billion, rivaling Colorado by 2020.
The client is a long-time agricultural expert with over 22 years of greenhouse hydroponic vegetable production experience, which is one of the required state licensing criteria. Grow Contractors has been contracted to complete operational planning activities, provide engineering and design work for the production and extraction facility, assist with city construction permitting, and help with the competitive state application. Upon the client being awarded a state license, GC will be further retained in the facility management process where the consulting firm will provide facility staffing solutions, a customized set of operational workflow procedures, and remote operational monitoring support for a percentage of the net profits. GC expects to leverage this contract to secure additional revenues through long-term consulting agreements and future sales of ancillary products, as the client is looking to seek licensure for the Florida recreational/adult-use cannabis program in the near future and branch into retail store-front locations.
Rob Kressa, CEO of Grow Contractors Inc., commented: "We are glad to be engaged with this client in the state of Florida, which I anticipate to become the second largest recreational market one day, after California. As a company, GC is actively seeking to align itself with strong clients who have an understanding of what it takes to achieve success. Needless to say, we are confident that our new client in Florida is equipped with the right property, team, and experience to be competitive, and we will strive to make them more and more competitive within the marketplace as we seek to be a long-term consulting solution for this group."
"With our headquarters recently having moved to Florida, we are finding many new opportunities in Florida and on the east coast. This new project paves the way to more projects and expanded presence in Florida," stated Paul Rosenberg, CEO of MCIG Inc.
About Grow Contractors
Grow Contractors is MCIG’s group of Cannabis consultants, engineers, architects, contractors, and grow experts combining over 100 years of experience and talent to bring clients efficient and high-quality grow spaces. Grow Contractors offers a practical approach to cannabis design, construction, and operations to create profitable and compliant facilities. The company provides a custom-tailored approach for every client because there is no universal approach to building a cannabis facility. Grow Contractors also offers several high tech greenhouse products from starter to advanced, high tech, greenhouse buildings capable of covering tens of thousands of square feet. From California to Washington, Oregon to Nevada, Grow Contractors provides products and services in all legal cannabis markets.
About MCIG Group (OTC:MCIG)
Headquartered in Henderson, Nevada, mCig, Inc. (OTCQB: MCIG ) is a diversified company servicing the legal cannabis, hemp and CBD markets via its lifestyle brands. mCig, Inc. is committed to being the leading distributor of technology, products, and services to fit the needs of a rapidly expanding industry. mCig, Inc. has transitioned from a vaporizer manufacturer to industry leading large scale, full service cannabis cultivation construction company with its Grow Contractors division currently operating in the rapidly expanding Nevada market.
mCig, Inc. also employs a world renowned tech team and has recently entered the tech space to satisfy its evolving role in technology and in keeping its growing following up to speed.
The company looks forward to growing its core competencies to service the ancillary legal Cannabis, Hemp and CBD markets, with broader expansion to take place once federal laws change. With over seventy-five years of experience combined between the key players that make up the Cannabis Grow Contractors Division, mCig, Inc. is proud to work with Cannabis Industry leaders and provide broad and rounded solutions for legal growers nationwide.
Safe Harbour
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company’s ability to develop, market and sell products based on its technology; the expected benefits and efficacy of the Company’s products and technology; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, and future product commercialization; and the Company’s business, research, product development, regulatory approval, marketing and distribution plans and strategies.
General Cannabis Announces Paydown of 12% Notes
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/01/04/CANN-General-Cannabis-Announces-Paydown-of-12-Notes
DENVER, Jan. 04, 2018 (GLOBE NEWSWIRE) -- General Cannabis Corp. (OTC:CANN) announced that the company has executed one of its strategic goals of strengthening the balance sheet through a significant debt reduction. Effective January 3, 2018, General Cannabis paid off the full balance of its 12% Notes, $1,621,250, which were due in September 2018.
General Cannabis CEO Robert Frichtel said, “We believe this transaction provides an opportunity to increase shareholder value and is immediately accretive to earnings per share. Our businesses continue to grow with strong cash flow characteristics, and we believe that we can meaningfully increase shareholder return by reducing debt. We remain committed to allocating capital in a manner that appropriately balances our growth objectives with our focus on providing our shareholders with a strong opportunity for return.”
Michael Feinsod, Chairman of General Cannabis added “With the recent completion of an equity offering and sale of certain real estate assets, it is an opportune time to clean up our balance sheet and appropriately pay down debt. We remain committed to aggressive expansion into new regulated cannabis markets. We continue to explore all strategic methods to maximize shareholder value.”
About General Cannabis Corp.
General Cannabis Corp. is the comprehensive national resource for the highest-quality service providers available to the regulated cannabis industry. We are a trusted partner to the cultivation, production and retail sides of the cannabis business. We do this through a combination of strong operating divisions such as security, marketing, operational consulting and products, real estate and financing. As a synergistic holding company, our divisions are able to leverage the strengths of each other, as well as a larger balance sheet, to succeed.
Our experienced team of associates is dedicated to working side by side with our customers to help drive results for their businesses - from keeping operations running efficiently today to continuously rethinking and optimizing for a more productive tomorrow.
Our website address is www.generalcann.com.
Forward-looking Statements
This release contains forward-looking statements that relate to future events or General Cannabis’ future performance or financial condition. Such statements include statements regarding our belief that the pay off of the 12% Notes provides an opportunity to increase shareholder value; statements regarding the continued growth of our businesses with strong cash flow characteristics; our belief that we can meaningfully increase shareholder return by reducing debt; statements regarding our allocation of capital in a manner that appropriately balances our growth objectives with our focus on providing our shareholders with a strong opportunity for return; statements regarding the appropriate time for us to clean up our balance sheet and pay down debt; statements regarding our intent to aggressively expand into new regulated cannabis markets; and statements regarding our continued exploration of all strategic methods to maximize shareholder value.
Any statements that are not statements of historical fact, such as the statements above and including statements containing the words “plans,” “anticipates,” “expects” and similar expressions, should also be considered to be forward-looking statements. These forward-looking statements are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as result of a number of factors, including those described from time to time in General Cannabis’ filings with the Securities and Exchange Commission. General Cannabis undertakes no duty to update any forward-looking statements made herein.
Lexaria Upgrades to the OTCQX Best Market
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/01/04/LXX-LXRP-Lexaria-Upgrades-to-the-OTCQX-Best-Market
Kelowna, British Columbia / TheNewswire / January 4, 2018 - Lexaria Bioscience Corp. (OTC:LXRP) (CSE:LXX) (the "Company" or "Lexaria"), a drug delivery platform innovator, announces it has qualified and is now trading on the OTCQX Best Market, operated by OTC Markets Group.
The OTCQX market is reserved for proven companies that meet stringent financial standards, provide thorough and timely news disclosure to investors, and are sponsored by a qualified third-party advisor. OTCQX is recognized by the Securities and Exchange Commission as an "established public market".
"Lexaria has made notable progress over the past twelve months in all aspects of its business, and will receive even more recognition by upgrading to OTCQX," said Chris Bunka, Chief Executive Officer of Lexaria Bioscience Corp. "Lexaria expects to provide greater visibility and liquidity for our investors on OTCQX as we build our disruptive technology innovations through 2018 and beyond."
Investors will find updated financial disclosure and Real-Time Level 2 quotes for LXRP at www.otcmarkets.com.
About Lexaria
Lexaria Bioscience Corp. has developed and out-licenses its disruptive delivery technology that promotes healthier ingestion methods, lower overall dosing and higher effectiveness of lipophilic active molecules. Lexaria has multiple patents pending in over 40 countries around the world and has patents granted in the USA and in Australia for utilization of its DehydraTECHTM delivery technology. Lexaria's technology provides increases in intestinal absorption rates; more rapid delivery to the bloodstream; and important taste-masking benefits, for orally administered bioactive molecules including cannabinoids, vitamins, non-steroidal anti-inflammatory drugs (NSAIDs), nicotine and other molecules.
www.lexariabioscience.com
FORWARD-LOOKING STATEMENTS
This release includes forward-looking statements. Statements which are not historical facts are forward-looking statements. The Company makes forward-looking public statements concerning its expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including statements that include words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements, including but not limited to: that any additional stock warrants or stock options will be exercised. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition, the patent application and approval process and other factors which may be identified from time to time in the Company's public announcements and filings. There is no assurance that existing capital is sufficient for the Company's needs or that it will be able to raise additional capital. There is no assurance that Lexaria will successfully complete any contemplated or existing technology license agreements; or that results from any studies will be favorable or in any way support future business activities of any kind. Scientific R&D is often unpredictable and unanticipated results could emerge from any study and have a material impact. There is no assurance that any planned corporate activity, scientific study, R&D, business venture, or initiative will be pursued, or if pursued, will be successful. There is no assurance that any of Lexaria's postulated uses, benefits, or advantages for the patented and patent-pending technology will in fact be realized in any manner or in any part. No statement herein has been evaluated by the Food and Drug Administration (FDA). Lexaria Energy Foods, Ambarii, DehydraTECHTM technology and ViPovaTM products are not intended to diagnose, treat, cure or prevent any disease.
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Aurora Cannabis Accelerates European Expansion With Denmark Joint Venture
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/01/04/ACB-ACBFF-Aurora-Cannabis-Accelerates-European-Expansion-With-Denmark-Joint-Venture
EDMONTON, Jan. 4, 2018 /CNW/ - Aurora Cannabis Inc. ("Aurora") (TSX:ACB) (OTC:ACBFF) (Frankfurt:21P; WKN:A1C4WM) today announced that the Company has signed a binding term sheet for the formation of a joint venture ("JV") with Alfred Pedersen & Søn ("APS"), pursuant to which Aurora will ultimately own a 51% interest in Aurora Nordic Cannabis A/S, the joint venture company, which is based in Odense, Denmark. Aurora and APS anticipate completing the final agreement shortly, governing the formation of the joint venture, subsequent to which Aurora Nordic will commence construction of an ALPS (Aurora Larssen Projects Ltd) designed, 1,000,000 square foot high-technology, fully automated cannabis production facility.
APS received its license to cultivate cannabis from Lægemiddelstyrelsen, Denmark's Medicines Agency, effective January 1, 2018. This gives Aurora Nordic a major advantage as one of few companies with a license to cultivate in Europe.
The new facility will be largely similar to Aurora`s flagship facility, Aurora Sky, with a projected production capacity in excess of 120,000 kg per annum. Construction will be phased, with cultivation commencing upon completion of the first 200,000 square feet, which is anticipated in the third quarter of calendar 2018. The new facility, upon completion, would establish Aurora Nordic as the continent`s largest producer of cannabis. Furthermore, through Aurora`s wholly owned subsidiary, Pedanios GmbH, Aurora Nordic will have access to Europe`s largest distributor of cannabis, providing direct access to a large and rapidly growing customer base.
Through APS, Aurora Nordic has access to existing greenhouse space it could utilize for cultivation as of the summer of 2018 if the company so chooses.
Under the terms of the agreement, and upon the achievement of certain milestones by the JV, the companies intend to fund construction of the Aurora Nordic facility through a combination of conventional, non-dilutive project finance, and direct investment by Aurora and APS on a pro-rata basis.
Aurora Nordic will focus on the cultivation and sales of cannabis in Denmark, Sweden, Norway, Finland and Iceland, through Aurora's wholly-owned subsidiary Pedanios GmbH. As capacity from the Aurora Nordic facility expands, excess capacity will be distributed to other EU countries with the support of Pedanios.
"This is a huge next step for Aurora, establishing us as the leading cannabis company in Europe, a market of well over 400 million people, dramatically accelerating our international expansion," said Terry Booth, CEO. "We are already the leading exporter to and distributor of medical cannabis in Germany, and now have the largest funded capacity footprint in the rapidly-growing European market, in which only a handful of licensed cannabis companies are currently able to operate."
Mr. Booth added, "The relationship between APS and Larssen, who identified this opportunity for us, goes back many years through the joint development of a number of large-scale projects. This provides Aurora Nordic with a major advantage in terms of time to market and overall execution. We will be able to utilize the operational capacity of one of the largest greenhouse vegetable growers in Europe (APS), in addition to Aurora's deep store of cannabis sector expertise, from growing to distribution. Furthermore, Mads Pedersen, APS's CEO, is a highly respected entrepreneur in the Nordic countries, and we will be able to leverage his strong industry and financial sector network to execute on Aurora Nordic's development and growth on favourable terms. We are very excited about this new venture, and look forward to be working closely with the APS team on establishing Aurora Nordic as the dominant cannabis company in the European market."
"We are delighted to partner with the world`s most dynamic cannabis company, with its exceptional execution track record," said Mads Pedersen, CEO of APS. "Aurora shares our high-technology, high-quality and ultra-low cost production philosophy. That, in addition to the clear strategic vision of Terry Booth, made Aurora our partner of choice to develop the full potential of our cannabis license and build Europe's leading cannabis company."
Aurora's joint venture partner APS is one of Europe's largest greenhouse producers of tomatoes and other vegetables, and is known for achieving excellent yields per square foot. APS, which operates 3,000,000 square foot of greenhouse production space, currently ships up to 100,000 kg of greenhouse vegetable produce per day, requiring high levels of automation and a sophisticated logistical infrastructure. APS CEO Mads Pedersen was awarded, by PWC the accolade of "Business Owner of the Year" for 2017 in Denmark. Mr. Pedersen and his team will bring to Aurora Nordic important operational capacity, as well as a strong local network of suppliers, finance and logistics partners.
About Aurora
Aurora's wholly-owned subsidiary, Aurora Cannabis Enterprises Inc., is a licensed producer of medical cannabis pursuant to Health Canada's Access to Cannabis for Medical Purposes Regulations ("ACMPR"). The Company operates a 55,200 square foot, state-of-the-art production facility in Mountain View County, Alberta, known as "Aurora Mountain", a second 40,000 square foot high-technology production facility known as "Aurora Vie" in Pointe-Claire, Quebec on Montreal'sWest Island, and is currently constructing an 800,000 square foot production facility, known as "Aurora Sky", at the Edmonton International Airport, as well as is completing a fourth facility in Lachute, Quebec through its wholly owned subsidiary Aurora Larssen Projects Ltd.
In addition, the Company holds approximately 17.23% of the issued shares in leading extraction technology company Radient Technologies Inc., based in Edmonton, and is in the process of completing an investment in Edmonton-based Hempco Food and Fiber for an ownership stake of up to 50.1%. Furthermore, Aurora is the cornerstone investor with a 22.9% stake in Cann Group Limited, the first Australian company licensed to conduct research on and cultivate medical cannabis. Aurora also owns Pedanios, a leading wholesale importer, exporter, and distributor of medical cannabis in the European Union, based in Germany. The Company offers further differentiation through its acquisition of BC Northern Lights Ltd. and Urban Cultivator Inc., industry leaders, respectively, in the production and sale of proprietary systems for the safe, efficient and high-yield indoor cultivation of cannabis, and in state-of-the-art indoor gardening appliances for the cultivation of organic microgreens, vegetables and herbs in home and professional kitchens. Aurora's common shares trade on the TSX under the symbol "ACB".
About Alfred Pedersen & Søn
Alfred Pedersen & Søn is the largest tomato and sweet pepper grower in Scandinavia, with a total of 2.8 million square feet (26 hectares) cultivation space under glass. APS is the largest producer in Scandinavia of both conventional and organic tomatoes, and the leading grower of pepper and cucumber, all produced in state of art greenhouses. The company is widely-recognized for consistently being at the forefront of innovation.
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 completion of Aurora Sky. 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.
Phivida Launches Sport Line of CBD Beverages
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/01/03/VIDA-PHVAF-Phivida-Launches-Sport-Line-of-CBD-Beverages
SANTA MONICA, CA, Jan. 3, 2018 /PRNewswire/ - Phivida Holdings Inc. ("Phivida" as traded as "VIDA:CNX" and "PHVAF") is pleased to announce the launch of its flagship line of high performance Nano-CBD™ (nanoencapsulated-cannabidiol) infused beverages into the US athletic and sports medicine market.
Phivida Nano-CBD™ Sport line of beverages are designed to maximize physical, mental performance for athletes, fitness professionals and everyday health conscious consumers. The Phivida Nano-CBD™ product lineup incorporates full-spectrum hemp oil in combination with a proprietary blend of organic, plant based nutraceuticals rich in CBD and other non-psychoactive phytocannabinoids, terpenes and flavonoids.
Phivida Nano-CBD™ is designed to enhance bioavailability at an estimated 400%+ higher absorption rate of cannabinoids to achieve a faster acting, longer lasting, and timed release effect within the body. Encapsulated cannabinoids are quickly becoming the preferred delivery method among naturopathic clinicians and integrated sports therapists for strength training and recovery regiments. Nano-CBD™ full spectrum hemp oil extract, could prove to be a powerful antioxidant, neuroprotectant and anti-inflammatory.
Each proprietary blend was developed by a team of scientific experts, including registered nutritionists, cannabinoid pharmacologists in conjunction with Phivida Clinical Advisory Team (led by the former President of the British Columbia College of Naturopathic Doctors), the former Chief Food Science Technician from Dole Juices (later sold to PepsiCo.) and a Health Canada recognized Quality Assurance Professional. Phivida Nano-CBD™ is cGMP certified and 3rd party tested for safety, potency and efficacy.
Phivida Nano-CBD™ functions as a holistic suite of daily preventive health and competitive performance enhancement. Focus is ideal pre-workout or mental preparation for high intensity, Protect is custom designed to enhanced performance during competition or peaks of high stress and activity and Relax is used to modulate mood and provide rest and rejuvenation or post training recovery.
Focus (Orange-Grapefruit) is designed to heighten mental alertness, cognition and memory, Protect (Rasp-Blueberry) targets stress relief, anti-inflammation; immune defence and nervous system protection, and Relax(Pom-Cranberry) aims to modulate mood, stress and sleep.
Dr. Brian Martin, practicing ND and the former President of the BC College of Naturopaths stated; "Phivida's Nano-CBD™ infused functional foods and natural health products provides a therapeutic dose of cannabinoids and meet professional standards of QA/C and third-party lab tests for safety and efficacy which provides licensed naturopathic doctors a greater level of comfort when recommending products to patients and fellow alternative health care practitioners."
The World Anti-Doping Agency ("WADA") recent announcement to remove CBD from the banned substance list opens Phivida products to a global emerging market of sports medicine, competitive athletes, multinational supplement retailers[1] (e.g. CVS, Wholefoods, GNC) and thousands of licensed healthcare clinics[2]. The announcement gives way to athletes for the first time in the history of competitive sports to take CBD and potentially replace toxic opiates and other harmful pharmaceuticals with a natural alternative to manage pain without risk of addiction, side-effects, or serious health complications.
About Cannabidiol ("CBD")
A 2013 literature review published in the British Journal of Clinical Pharmacology, CBD studies include exploration into the following medical properties: Anti-convulsion, inflammation, anxiety, and nausea in animal studies, antitumor activity on human breast carcinoma by inhibiting cancer cell growth. Cannabinoids, (especially CBD) are widely studied for their general preventative and therapeutic effects on inflammation based disorders such as; pain, anxiety, insomnia, appetite, and researched for their potentially curative properties on; glandular cancer (brain, breast, thyroid, prostate, etc.) and Neurodegenerative diseases (MS, Alzheimer's, Epilepsy, etc.). The lack of psychoactivity of CBD-rich hemp varieties make it an appealing treatment option for patients seeking natural plant treatments without the side-effects of THC and the fact that Phivida uses hemp derived CBD from permitted farms protected under the 2014 Farm Bill and Cole Memorandum, Vida+ products are eligible for sale in alternative health care clinics across the United States.
Safe Harbour
This press release contains "forward-looking information" within the meaning of Canadian securities laws, which may include, but are not limited to, statements relating to the Company's use of the proceeds of the Offering and the trading date of the Common Shares. Such forward-looking information reflects Phivida's views with respect to future events and is subject to risks, uncertainties and assumptions, including those set out in the Prospectus. Phivida does not undertake to update forward-looking statements or forward-looking information, except as required by law. No securities regulatory authority has either approved or disapproved of the contents of this news release. The Common Shares have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States, or to or for the account or benefit of any person in the United States, absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any common shares in the United States, or in any other jurisdiction in which such offer, solicitation or sale would be unlawful. We seek safe harbour.
INSYS Therapeutics to Present at J.P. Morgan Healthcare Conference
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/01/03/INSYS-Therapeutics-to-Present-at-JP-Morgan-Healthcare-Conference
PHOENIX, Jan. 03, 2018 (GLOBE NEWSWIRE) -- INSYS Therapeutics, Inc. (NASDAQ:INSY), announced today that Saeed Motahari, president and chief executive officer, and Andrew Long, chief financial officer, will present at the 36th annual J.P. Morgan Healthcare Conference as follows:
Date: Thursday, Jan. 11, 2018
Time: 7:30 a.m. Pacific Standard Time
Location: San Francisco – Westin St. Francis Hotel
The presentation will be webcast live at the aforementioned time, and archived for 30 days thereafter, via the Investors section of company’s website at https://www.insysrx.com/, under Presentations & Events. The presentation slides will be available during the conference, accessible at the same webpage.
In addition to making a presentation, management will also provide an overview of the company’s business in one-on-one meetings with investors who are registered to attend the conference.
About INSYS
INSYS Therapeutics is a specialty pharmaceutical company that develops and commercializes innovative drugs and novel drug delivery systems of therapeutic molecules that improve patients’ quality of life. Using proprietary spray technology and capabilities to develop pharmaceutical cannabinoids, INSYS is developing a pipeline of products intended to address unmet medical needs and the clinical shortcomings of existing commercial products.
INSYS Therapeutics to Present at J.P. Morgan Healthcare Conference
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/01/03/INSYS-Therapeutics-to-Present-at-JP-Morgan-Healthcare-Conference
PHOENIX, Jan. 03, 2018 (GLOBE NEWSWIRE) -- INSYS Therapeutics, Inc. (NASDAQ:INSY), announced today that Saeed Motahari, president and chief executive officer, and Andrew Long, chief financial officer, will present at the 36th annual J.P. Morgan Healthcare Conference as follows:
Date: Thursday, Jan. 11, 2018
Time: 7:30 a.m. Pacific Standard Time
Location: San Francisco – Westin St. Francis Hotel
The presentation will be webcast live at the aforementioned time, and archived for 30 days thereafter, via the Investors section of company’s website at https://www.insysrx.com/, under Presentations & Events. The presentation slides will be available during the conference, accessible at the same webpage.
In addition to making a presentation, management will also provide an overview of the company’s business in one-on-one meetings with investors who are registered to attend the conference.
About INSYS
INSYS Therapeutics is a specialty pharmaceutical company that develops and commercializes innovative drugs and novel drug delivery systems of therapeutic molecules that improve patients’ quality of life. Using proprietary spray technology and capabilities to develop pharmaceutical cannabinoids, INSYS is developing a pipeline of products intended to address unmet medical needs and the clinical shortcomings of existing commercial products.
Intec Pharma Granted Patent in Canada for Accordion Pill
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/01/03/NTEC-Intec-Pharma-Granted-Patent-in-Canada-for-Accordion-Pill
JERUSALEM, January 3, 2018 /PRNewswire/ --Intec Pharma Ltd. (NASDAQ:NTEC) (TASE:NTEC), a clinical-stage biopharmaceutical company focused on developing drugs based on its proprietary Accordion Pill™ platform technology, today announced that the Canadian Intellectual Property Office has issued a Certificate of Grant of a Canadian patent No. 2,721,493. The patent, entitled "Carbidopa/Levodopa Gastroretentive Drug Delivery," broadly covers the Accordion Pill containing certain drugs, including the combination of Carbidopa and Levodopa and provides patent protection through April 2029. The patent belongs to the Company's IN-7 patent family, which already includes patents granted in the U.S., Europe, China, Japan, South Korea, Hong Kong, South Africa, and Israel.
"This patent further strengthens our global IP leadership in gastric retention drug delivery with the Accordion Pill technology platform, and we remain committed to continuing to build out our IN-7 patent family," stated Jeffrey A. Meckler, Chief Executive Officer of Intec Pharma. "The patent secures key elements of our technology, including our leading product, the Accordion Pill Carbidopa/Levodopa, which is in a global Phase III clinical trial in advanced Parkinson's disease. The expanded patent protection granted by the Canadian Intellectual Property Office enhances our global commercial efforts for AP-CDLD and we look forward to continuing to add to our IP position."
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.
Future Farm CEO Provides Update to Shareholders
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/01/03/FFT-FFRMF-Future-Farm-CEO-Provides-Update-to-Shareholders
VANCOUVER , British Columbia, January 3, 2018 /PRNewswire/ --
Future Farm Technologies Inc. (the "Company" or "Future Farm") (CSE:FFT) (CSE:FFT.CN) (OTC:FFRMF) is pleased to provide an update to its current and prospective Shareholders regarding the Company's activities over the past several months, and plans for development in the new year.
Future Farm has experienced a flurry of activity in the past several weeks and the market has responded positively to our continued efforts to create a diversified portfolio of cannabis investments for Future Farm's shareholders. We have successfully raised capital to support the various projects that we are developing throughout North America, including those in California, Maine, Florida, Rhode Island, Puerto Rico and beyond.
Future Farm shareholders have raised $1.4 Million through the voluntary conversion of both its $0.35 and $0.37 warrants from two offerings in 2017, and as most recently announced, the completion of a $4,000,000 private placement with Yorkville Advisors that enables the Company to close on the acquisition of a 10-acre operating greenhouse in Florida.
FLORIDA:
The Florida greenhouse business generated an estimated $2,800,000 USD in revenue and $400,000 USD in EBITDA for 2017. This acquisition represents a major milestone for the Company and positions it in the emerging Florida cannabis market, estimated by some to reach $1 billion in annual sales by 2020. The Company intends to continue operating the greenhouse as is while it applies for licensing as a cannabis cultivator with the State of Florida. The Company is also exploring the possibility of growing hemp on the remaining acreage of farmland to further strengthen its foothold in the hemp-based CBD market.
MAINE:
The Company has already secured more than 220-acres of farmland in Maine with an option for an additional 1,000-acres to grow and process hemp. Future Farm will bring its state-of-the-art, scalable alcohol extraction equipment and know-how to take full advantage of the fast-growing CBD oil market. The Company is also preparing to set up a hemp cloning operation, which will use vertical farming technology pioneered by the Company, to supply over 200,000 clones to the farm in 2018. The hemp clones will also be grown under the Company's Scorpion LED grow lights, which will save on electricity costs and further leverage its in-house technology.
CALIFORNIA:
Future Farm's subsidiary, FFM Consulting Services, LLC, continues to make and sell cannabis oil out of its California oil extraction facility and is currently in discussions with large distributors whom are requesting pricing on 2,500-kilos of cannabis oil per year. The extraction facility team is using a unique process of running organic grape seed oil in its alcohol extraction equipment, which is capable of large-scale production.
"We are pleased with our progress in California and are excited to be a part of the state's new recreational cannabis market," says Bill Gildea, Future Farm's CEO. "We look forward to the opportunities that California's recreational market will open up to us in 2018 and beyond."
California's recreational cannabis market is forecast to reach over $7 billion in the next few years.
RHODE ISLAND:
Another exciting opportunity is the anticipated closing of a 15,000-sq ft building in Providence, Rhode Island, which is scheduled for January 15, 2018. The building is located in an M-1 zone, meaning it is legally zoned for cannabis cultivation. The Company intends to lease the building to a local, Rhode Island entity that, once licensed by Rhode Island's Department of Business Regulations, will use the property to cultivate wholesale medical marijuana in order to supply Rhode Island's state-sanctioned dispensaries.
PUERTO RICO:
Future Farm is in the process of acquiring a controlling interest in five dispensaries in Puerto Rico via the formation of a joint venture with TCG Investments, LLC, owners of the Clinica Verde brand of medical cannabis dispensaries. Future Farm will purchase five pre-qualifications for medical dispensary licenses from Clinica Verde ("Licenses"). Subsequently, the Licenses will be contributed into a joint venture company that will operate under the Clinica Verde brand. Ownership in the dispensaries provides the potential of consistent cash flow while contributing to the expansion of the medical cannabis industry, which is a key driver for the future economic development of Puerto Rico.
RESEARCH ACTIVITIES:
Furthering its investment in the cannabis movement, Future Farm has entered into a 50/50 Joint Venture with Rahan Meristem to breed and propagate elite clones of cannabis. The partnership will develop, own and utilize Rahan's proven and proprietary technology to mass-produce elite clones of cannabis and hemp plants, which will be sold for medical purposes. Future Farm and Rahan intend to create varieties of cannabis with higher levels of THC and CBD, using Rahan's proprietary technology of non-GMO, in-vitro mutagenesis. Rahan shall be responsible for providing the know-how and technology, as well as management and operation of the Project. Future Farm shall be responsible for providing financing and an indoor, air-conditioned laboratory building space located in the United States or in Canada.
OTCQX Uplist:
The Company announced its intentions to uplist from OTCQB to OTCQX last May, and has now begun the application process. To qualify for uplisting onto OTCQX International, companies must be listed on a Qualified Foreign Exchange, meet stringent financial and disclosure standards, and be sponsored by a professional third-party advisor. Uplisting to OTCQX has been part of the Company's corporate strategy for some time, as it will provide wider visibility amongst the investment community and therefore strengthen stockholder value.
PRODUCE FARMS:
Future Farm continues to collaborate with CBO Financial Inc. and Volunteers of America on the development of produce farms in Baltimore, MD and Mobile, AL. The projects will be designed, financed and constructed in tandem. By bundling the projects together, the parties expect to save on financing fees related to New Market Tax Credits, facility design and engineering, and equipment expenses, including HVAC and LED lighting.
The primary objectives of all three locations (two in MD and one in AL) remain the same - establish economical and environmentally friendly vertical farms; provide job training opportunities (specifically to the VOA's reentry program for ex-offenders in Baltimore, MD and to the mentally disadvantaged/formerly homeless community in Mobile, AL) as well as to the local communities of both; provide therapeutic programs, which will be expanded to the disabled population; support entrepreneurship development; and establish a model for replication at other reentry and social services facilities.
LED CANADA:
Future Farm's LED Canada division continues to make significant progress. The LED Canada Showroom build out is complete and fully operational allowing for cost savings from a vertically integrated warehouse and showroom. Demand is increasing for LED Canada's award-winning Scorpion grow light as more licensed growers complete testing. A licensed producer in the USA was able to secure a rebate from its public power supplier for its use of LED Canada Scorpion grow lights, paving the way for savings and large LED purchase orders. Peking University has been using LED Canada grow lights and has shown that they produce the highest yields versus other grow lights tested.
LED Canada is also in the final stages of providing a quote on its LEDs for the previously announced Mobile, AL farm and another farm in development in Massachusetts. Each vertical farm would require 9,000 8-foot LED lamps, which would represent a multi-million-dollar purchase order for each project.
HAMPTONS RESERVE:
Future Farm continues to develop Hamptons Reserve as its in-house brand of premium edibles.
AUGMENTED REALITY:
Finally, the Company is preparing to spin off its newly created augmented reality cannabis company in order to maximize shareholder value. Once spun off, Future Farm's shareholders will own shares in a new company traded on the CSE, with a singular focus on bringing augmented reality to the cannabis industry.
Future Farm has had a very productive year as far as developing its portfolio of cannabis related businesses. We are positioned to hit the ground running to provide economic value to our shareholders in 2018.
On behalf of the Board,
Future Farm Technologies Inc.
William Gildea, CEO & Chairman
About Future Farm
Future Farm Technologies Inc. is a Canadian company with projects throughout North America including California, Florida and Maryland. The Company's business model includes developing and acquiring technologies that will position it as a leader in the evolution of Controlled Environment Agriculture (CEA) for the global production of various types of plants, with a focus on cannabis. Future Farm provides scalable, indoor CEA systems that utilize minimal land, water and energy regardless of climate, location or time of year and are customized to grow an abundance of crops close to consumers, therefore minimizing food miles and its impact to the environment. The Company holds an exclusive, worldwide license to use a patented vertical farming technology that, when compared to traditional plant production methods, generates yields up to 10 times greater per square foot of land. The contained system provides many other benefits including 90% less water, fertilizer and land used, less travel costs, seed to sale security, scalability, consistency due to year-round production, cost control, product safety and purity by eliminating environmental variability. The Company also utilizes a leading cannabis oil extraction technology, which enables the Company to process 20lbs/hour of cannabis plant to yield approximately 908 grams/hour of oil.
The Company is also in the business of designing and distributing LED lighting solutions utilizing the COB and MCOB technology. The Company is focused on delivering cost efficient lighting to North America via advanced e-commerce sites the Company owns and operates. LEDCanada.com, which caters to B2B customers, is a supplier of the newest and highest demand LED solutions. The Company also owns and operates COBGrowlights.com, which caters to both large and small agriculture green houses and controlled cultivation centers.
The Company recently acquired the exclusive right to use a patented, augmented reality (AR) technology in the cannabis industry. As described in more detail above, the Company has decided to spin this asset off to its shareholders.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. The Canadian Securities Exchange has not in any way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
Phivida Signs CBD Product Distribution Agreement in California
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/01/02/VIDA-PHVAF-Phivida-Signs-CBD-Distribution-Agreement-in-California
SANTA MONICA, CA, Jan. 2, 2018 /PRNewswire/ - Phivida Holdings Inc. ("Phivida" or the "Company" traded as (CSE:VIDA) or (OTC:PHVAF) announced today that it has entered into a distribution agreement with Green Reef Distributing Inc. to distribute its products across the State of California.
"We are excited to be the first state to launch Phivida's line of branded CBD-infused functional foods, beverages and clinical products into the US marketplace," said Nick Gagliardi, CEO and President of Green Reef Distribution Inc. "These products will be available to retail customers through 550 dispensaries across the State of California — a market for CBD-based products that is growing exponentially as active people and families discover the benefits of CBD from hemp oil."
According to a recent report, the market for hemp-derived CBD is growing at 55 per cent a year and will hit the $1 billion mark by 2020. The CBD market in California alone has been pegged conservatively at $90 million per year with some estimates placing it at $120 million per year. The total size of the California medical market for the year ending 2017 has been estimated at $7.7 billion. The state is home to 5,560 pharmacies — the most of any state — as well as 8,256 grocery stores and 13,992 health stores.
California dominated 2018 New Years' headlines with recreational cannabis now legal state-wide.
The move to legalize marijuana in California, the US' most populous state with almost 40 million people, saw the state become the world's largest commercial market for recreational marijuana.
The cannabis market is expected to generate an additional $1 billion (€833 million) in tax revenue.
"The agreement with Green Reef is an important advancement into market penetration into United States," said John David Belfontaine, President and CEO of Phivida. "We have every confidence that Green Reef has the expertise, the experience and the ambition we need to deliver our products to consumers in California and we are looking forward to a strong first year of sales."
About Green Reef Distributing Inc.:
With more than 15 sales staff across the state of California, Green Reef's mission is to become the state's top shelf wholesale distribution, sales and marketing company representing the highest quality products available for the cannabis industry by building a comprehensive distribution and brand management service company.
About Phivida Organics Inc.
Phivida (pronounced "fi-VEE-dah") is a premier brand of cannabidiol ("CBD")-infused functional foods, beverages and clinical products and a publicly traded company on the Canadian Securities Exchange under the ticker symbol "VIDA." Using nanoencapsulation technology, Phivida converts lipid-based cannabinoids into a water-soluble delivery format to enhance bioavailability and timed release within the body. Phivida's mission is to be a global leader in the alternative health sector while advancing education and research and investing back into our communities. For more information visit www.phivida.com. For investor information please email us at ir@phivida.com.
Safe Harbour
This press release contains "forward-looking information" within the meaning of Canadian securities laws, which may include, but are not limited to, statements relating to the Company's use of the proceeds of the Offering and the trading date of the Common Shares. Such forward-looking information reflects Phivida's views with respect to future events and is subject to risks, uncertainties and assumptions, including those set out in the Prospectus. Phivida does not undertake to update forward-looking statements or forward-looking information, except as required by law. No securities regulatory authority has either approved or disapproved of the contents of this news release. The Common Shares have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States, or to or for the account or benefit of any person in the United States, absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any common shares in the United States, or in any other jurisdiction in which such offer, solicitation or sale would be unlawful. We seek safe harbour.
STONY HILL LISTED ON INVESTOPEDIA POT STOCK WINNER LIST
Stony hill was one of the investopedia pot stock winners of the week! Not a bad way to go into 2018. Plus volume and share price are flying today!
https://www.investopedia.com/pot-stock-winners-of-the-week/
Digipath Announces Record Fiscal Year Results for 2017
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/01/02/DIGP-Digipath-Announces-Record-Fiscal-Year-Results-for-2017
Digipath Announces Record Fiscal Year Results for 2017
January 2, 2018
|
PR Newswire
LAS VEGAS, Jan. 2, 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 fiscal year ended September 30, 2017.
Ended fiscal year debt free with $380,189 of working capital, including $178,177 of cash on hand
Annual sales were $1,898,172, an increase of 132% on a year-over-year basis
Fourth quarter sales of $602,057 increased by 74% over the third quarter, and by 93% vs. the fourth quarter of 2016, as Nevada recreational cannabis sales commenced in July 2017, resulting in another record quarter
Reduced our net loss by 71% over the comparative net loss in 2016
Adjusted EBITDA for the year was $(375,377), compared to Adjusted EBITDA of $(949,946) for the previous fiscal year, an improvement of approximately 60% on a year-over-year basis
REST OF ARTICLE: https://www.dailymarijuanaobserver.com/single-post/2018/01/02/DIGP-Digipath-Announces-Record-Fiscal-Year-Results-for-2017
ABcann Global Receives Health Canada License to Produce Cannabis Oils
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/01/02/ABCN-ABCCF-ABcann-Global-Receives-Health-Canada-License-to-Produce-Cannabis-Oils
NAPANEE, Ontario, Jan. 02, 2018 (GLOBE NEWSWIRE) -- ABCANN GLOBAL CORPORATION (TSXV:ABCN) (OTC:ABCCF) (“ABcann” or the “Company”) is pleased to announce that the Company has been licensed by Health Canada to produce medical cannabis oils. Once ABcann has saleable extracted finished products, Health Canada will conduct a final inspection to approve the sale of cannabis oils by the Company. This is expected in the first quarter of 2018.
“Receipt of the license to produce cannabis oils is a major milestone in our pursuit to provide our medical cannabis patients with additional product formats that can be precisely dosed,” commented Barry Fishman, CEO of ABcann. “The expansion and innovation of our product lines are a top priority for the Company as we continue to serve the needs of our customers, and we anticipate strong demand for our cannabis oil products.”
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 partnership and product development opportunities domestically, as well as in select international markets, such as Germany, Australia and Israel.
ON BEHALF OF THE BOARD OF DIRECTORS
"Barry Fishman"
Barry Fishman
CEO and Director
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 Information
Certain statements in this news release are forward-looking statements, which are statements that are not purely historical, regarding the beliefs, plans, expectations or intentions of ABcann and its management regarding the future. Forward looking statements in this news release include statements relating to the Company’s potential new products and product line innovations, timing of approval from Health Canada for the sale of cannabis oils, expected demand for cannabis oil products, and ABcann’s future plans with respect to cultivation, distribution and imports into Germany, Australia and other international jurisdictions. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the forward-looking statements, including potential delays in formulating new product lines or producing saleable extracted finished products, potential delays in the timing of Health Canada approval for the sale of cannabis oils and other factors beyond the Company’s control. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. Readers are urged to consider these factors, and the more extensive risk factors included in the Company’s filing statement dated March 31, 2017, which is available on SEDAR, carefully in evaluating the forward-looking statements, and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by these cautionary statements. The forward-looking statements in this news release are made as of the date hereof and the Company disclaims any intent or obligation to update publicly any such forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.
Golden Leaf Acquires Medical Marijuana Group Consulting Ltd.
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2018/01/02/GLH-GLDFF-Golden-Leaf-Acquires-Medical-Marijuana-Group-Consulting-Ltd
TORONTO, Jan. 02, 2018 (GLOBE NEWSWIRE) -- Golden Leaf Holdings Ltd. (“GLH” or the “Company”) (CSE:GLH) (OTC:GLDFF), a leading cannabis oil solutions company built around recognized brands, is pleased to announce that it has closed its previously announced acquisition (the “Acquisition”) of all of the issued and outstanding shares of Medical Marijuana Group Consulting Ltd. (“MMC”). Pursuant to the Acquisition, the Company paid consideration of C$5,000,000, which was satisfied through the issuance of 17,857,143 common shares of the Company at a price of C$0.28 per share. Under the terms of the definitive agreement between GLH and MMC, the consideration was payable in the event that certain gross sales targets were met within a specified time frame (the “Earn-in Period”). The Company waived the Earn-in Period requirements, as MMC was close to achieving the sales targets and demonstrated strong growth. The Company believed it was commercially beneficial to integrate GLH and MMC prior to calendar year end.
MMC is a medical marijuana consulting company that secures high-value medical marijuana patients and educates and refers them to Licensed Producers for their product. MMC receives an education fee from the Licensed Producers in exchange for this service. MMC is a pioneer in finding and securing insurance coverage for medical cannabis and is a leader in cannabis treatment for veterans, a segment of the market that generates strong demand, and for which funding from the Canadian Department of Veteran Affairs makes cannabis 100 percent covered.
“MMC has a proven track record acquiring new patients who privately purchase cannabis for their medical conditions and MMC continues to be a leader in securing individual funding through different insurance benefit packages,” stated Philip Millar, President of MMC. “Since the initial acquisition talks initiated in early 2017 between Golden Leaf Holdings and MMC, the two parties have been successfully collaborating on the Golden Medical branding initiative to drive patients to MMC, which has yielded approximately 2,500 “white label” patients to date, and we expect this growth to continue moving forward.”
“We are pleased to complete the acquisition of MMC, as its robust database of high-value medicinal cannabis clients and expertise will arm Golden Leaf Holdings with superior branding channels to affect the recreational battlefield when full legalization occurs in Canada in the summer of 2018,” commented William Simpson, CEO of Golden Leaf Holdings. “The acquisition of MMC secures long-term, loyal and profitable customers that will make Golden Leaf Holdings’ Canadian market strategy more effective, and will likely lead to transference of clients to GLH Canadian production facilities in the future.”
About Golden Leaf Holdings
Golden Leaf Holdings Ltd., a Canadian company with operations in Portland, Oregon, is one of the largest cannabis oil and solution providers in North America, and a leading cannabis products company built around recognized brands. Golden Leaf Holdings cultivates, extracts and manufactures and distributes its products through its branded Chalice Farm retail dispensaries, as well as through third party dispensaries. Golden Leaf leverages a strong management team with cannabis and food industry experience to complement its expertise in extracting, refining and selling cannabis oil. Visit http://goldenleafholdings.com/ to learn more.
Investor Relations:
Steve Silver / Phil Carlson
GLH@kcsa.com
212-896-1220 / 212-896-1233
Media Relations:
Anne Donohoe / Anne Szustek
KCSA Strategic Communications
adonohoe@kcsa.com / aszustek@kcsa.com
212-896-1265 / 212-896-1210
Company:
William Simpson
Chief Executive Officer
Golden Leaf Holdings Ltd.
503-477-7626
William@chalicefarms.com
Disclaimer: This press release contains "forward-looking information" within the meaning of applicable securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the Company’s future business operation, expectations of gross sales, the opinions or beliefs of management and future business goals, and the anticipated benefits of the Acquisition. Generally, forward looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to general business, economic and competitive uncertainties, regulatory risks including risks related to the expected timing of the Company’s participation in the Adult Use market, market risks, risks inherent in manufacturing operations and other risks of the cannabis industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information. Forward-looking information is provided herein for the purpose of presenting information about management’s current expectations relating to the future and readers are cautioned that such information may not be appropriate for other purpose. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws. This Release does not constitute an offer of securities for sale in the United States, and such securities may not be offered or sold in the United States absent registration or an exemption from registration or an exemption from registration.
MYM Adopts Automatic Plan for Insiders to Sell Their Shares
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/12/29/MYM-Adopts-Automatic-Plan-for-Insiders-to-Sell-Their-Shares
Earlier today, MYM Nutraceuticals Inc. (CSE:MYM) (OTC:MYMMF) announced the adoption of an automatic securities disposition plan, a.k.a. ASDP, to allow insiders of the company to sell shares into the open market. This announcement comes on the heels of recent news regarding application acceptance for MYM's joint venture in Australia.
According to the release:
"Canadian legislation permits an insider to adopt a written ASDP to sell shares through an independent broker in accordance with a pre-arranged set of instructions, regardless of any subsequent material non-public information the insider may receive, as long as the ASDP satisfies certain requirements. In accordance with Canadian legislation, sales of shares under the ASDP will be effected by independent securities brokers in accordance with the trading parameters and other instructions set out in the ASDP.
MYM insiders will not exercise any discretion or influence over how dispositions will occur under the ASDP, and the broker administering the ASDP is not permitted to consult with MYM insiders regarding any such dispositions. In addition, insiders are subject to restrictions on their ability to modify, suspend or terminate their participation in the ASDP.
The objective of the ASDP is to facilitate the sale of common shares of MYM currently held by insiders on the open market over a period of up to two years at prevailing market prices. The ASDP will allow those MYM insiders to sell their shares in order to further diversify their respective portfolios."
The ASDP Trading Plan
Collectively, the following five insiders will be selling (through this ASDP facility) a total of 2,796,000 shares of MYM into the open market over the coming 24 months at a rate of 116,500 per month. At a last trade price of $2.79 CAD per share, that block of shares is currently valued at $7,800,840 CAD.
Rob Gietl, the CEO will be selling 25,000 shares per month for 24 months. This will amount to a disposition of 600,000 shares.
Erick Factor, the Founder and Exectuive Chairman of the Board will be selling 40,000 shares per month for 24 months. This will amount to a disposition of 960,000 shares.
Ian Ramage, a Director, will be selling 10,000 shares per month for 24 months. This will amount to a disposition of 240,000 shares.
Mark Forster, the Chief Financial Officer, will be selling 40,000 shares per month for 24 months. This will amount to a disposition of 960,000 shares.
Robin Linden, a Director, will be selling 1,500 shares per months for 24 months. This will amount to a disposition of 36,000 shares.
Anyone notice that WeedMD was one of the cannabis stocks that was halted today?
Volume is through the roof today!
Anybody notice that STNY has traded over 15,000 shares today? This thing is really starting to see some action!
Well looks like trading as resumed... but more halted?
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/12/29/IIROC-Resumes-Trading-for-Canopy-Growth-and-Aphria
The Investment Industry Regulatory Organization of Canada ("IIROC") has resumed trading in shares of Canopy Weed Corp. (TSX:WEED) (OTC:TWMJF) and Aphria Inc. (TSX:APH) (OTC:APHQF) following brief halts earlier.
Additionally, IIROC has resumed trading in shares of Aurora Cannabis Inc. (TSX:ACB) (OTC:ACBFF) and MedReleaf Corp. (TSX:LEAF) (OTC:MEDFF).
As of 12:48:39.933 EST, IIROC has resumed trading in shares of WeedMD Inc. (TSXV:WMD) (OTC:WDDMF).
As of 12:31:49.185 EST, IIROC has resumed trading in shares of Cronos Group Inc. (TSXV:MJN) (OTC:PRMCF).
IIROC Halts Trading in Canopy Growth and Aphria
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/12/29/IIROC-Halts-Trading-in-Canopy-Growth-and-Aphria
The Investment Industry Regulatory Organization of Canada, a.k.a. IIROC, has announced that shares of Canopy Weed Corp. (TSX:WEED) (OTC:TWMJF) are halted as of 12:18:35 PM EST, and Aphria Inc. (TSX:APH) (OTC:APHQF) are halted as of 12:19:18 PM EST due to single-stock circuit breakers. Both companies shares are down measurably in intraday trading.
Now Read: What does it mean when a stock is halted?
IIROC can make a decision to impose a temporary suspension of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.
IIROC Halts Trading in Canopy Growth and Aphria
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/12/29/IIROC-Halts-Trading-in-Canopy-Growth-and-Aphria
The Investment Industry Regulatory Organization of Canada, a.k.a. IIROC, has announced that shares of Canopy Weed Corp. (TSX:WEED) (OTC:TWMJF) are halted as of 12:18:35 PM EST, and Aphria Inc. (TSX:APH) (OTC:APHQF) are halted as of 12:19:18 PM EST due to single-stock circuit breakers. Both companies shares are down measurably in intraday trading.
Now Read: What does it mean when a stock is halted?
IIROC can make a decision to impose a temporary suspension of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.
Be sure to subscribe to one or more of our free newsletters so you never miss an important update. Also, don't forget to connect with The Daily Marijuana Observer on Facebook, Twitter, and Instagram.
IIROC Halts Namaste Technologies - Single-Stock Circuit Breaker
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/12/28/IIROC-Halts-Namaste-Technologies---Single-Stock-Circuit-Breaker
The Investment Industry Regulatory Organization of Canada, a.k.a. IIROC, has announced that shares of Namaste Technologies Inc. (CSE:N) (OTC:NXTTF) are halted as of 10:51:00.293 EST due to a single-stock circuit breaker.
Now Read: What does it mean when a stock is halted?
IIROC can make a decision to impose a temporary suspension of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.
Be sure to subscribe to one or more of our free newsletters so you never miss an important update. Also, don't forget to connect with The Daily Marijuana Observer on Facebook, Twitter, and Instagram.
Veritas Pharma Subsidiary Receives Health Canada Dealer Licence
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/12/28/VRT-VRTHF-Veritas-Pharma-Subsidiary-Receives-Health-Canada-Dealer-Licence
VANCOUVER, British Columbia, Dec. 28, 2017 (GLOBE NEWSWIRE) -- Veritas Pharma Inc. (CSE:VRT) (OTC:VRTHF) (Frankfurt:2VP), (“Veritas” or the “Company”) announces that Health Canada has issued its research and development subsidiary, Cannevert Therapeutics Ltd. (“CTL”) a dealer licence no. 2018/6970 under Health Canada’s Section 9.2 of the Narcotic Control Regulations (“NCR”) that will allow them to possess, produce, analyze, sale, send, transport, and deliver cannabis, hemp and related products.
This is a significant step for CTL in that in conjunction with discovering and developing new therapeutic cannabis strains, it will also be a commercial service provider of chemistry and biological testing services for licensed producers under Health Canada guidelines.
Veritas’ CEO, Dr. Lui Franciosi, stated, “We are excited that Cannevert scientists will now not only be able to obtain a variety of cannabis strains and related products from multiple licensed producers in Canada, but also from around the world with an acquired import permit. They will also be able to produce cannabis liquid extracts and even send them with an export permit to other parts of the world for further laboratory and clinical trial testing.”
Although Cannevert’s primary focus will continue to be the identification of new cannabis strains for the treatment of specific diseases and conditions, in the new year it will seek to expand its analytical chemistry team, purchase additional testing equipment and lease larger laboratory space on the University of British Columbia campus. The aim is to have a full contract service laboratory operating in later half of 2018.
Dr. Franciosi goes onto say, “CTL will have an advantage over other analytical testing service providers in that it will also offer in vivo and in vitro assays to licensed cannabis and hemp producers to determine the therapeutic potential of their strains (e.g., batch-to-batch) under a contract research agreement.”
In the near future Cannevert will also explore the feasibility of securing a license to grow select cannabis strains for research purposes within its laboratories. It is expected to be a more efficient process given that CTL has gone through the dealer licence application process and the legalization of cannabis will occur in July 2018. As of January 1, 2018, Cannevert will be one of the over thirty laboratories licensed in Canada to conduct activities with cannabis and hemp: Health Canada: Laboratories licensed to conduct activities with cannabis
About Veritas Pharma Inc.
Veritas Pharma Inc. is an emerging-stage pharmaceutical and IP development company, who, through its 80% owned Cannevert Therapeutics Ltd. ("CTL"), is advancing the science behind medical cannabis. It is the Company aim, through its investment in CTL, to develop the most effective cannabis strains (cultivars) specific to pain, nausea, epilepsy and PTSD, solving the critical need for clinical data to support medical marijuana claims. CTL’s unique value proposition uses a low-cost research and development model to help drive shareholder value, and speed-to-market. Veritas investment in CTL is led by strong management team, bringing together veteran academic pharmacologists, anesthetists & chemists. The company's commercial mission is to patent protect CTL’s IP (cultivars & strains) and sell or license to cancer clinics, insurance industry and pharma, targeting multi-billion dollar global markets.
Veritas Pharma Inc. is a publicly traded company which trades in three countries including Canada, on the Canadian Securities Exchange under the ticker VRT; in the United States, on the OTC under the ticker VRTHF; and in Germany, on the Frankfurt exchange under the ticker 2VP.
Delta 9 Closes of $23 Million CAD Bought Deal Financing
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/12/28/NINE-Delta-9-Closes-of-23-Million-CAD-Bought-Deal-Financing
WINNIPEG, Dec. 28, 2017 /CNW/ - Delta 9 Cannabis Inc. (TSXV:NINE) ("Delta 9" or the "Company") is pleased to announce that it has closed its previously announced bought deal financing of 8,521,500 units (the "Units") at a price of C$2.70 per Unit (the "Offering Price") for aggregate gross proceeds to Delta 9 of C$23,008,050 (the "Offering"). The Offering was conducted by a syndicate of underwriters led by Canaccord Genuity Corp., and including PI Financial Corp., Beacon Securities Limited, Haywood Securities Inc. and Mackie Research Capital Corporation (the "Underwriters"). The Offering included 1,111,500 Units sold pursuant to the full exercise of the Underwriters' over-allotment option. Each Unit consists of one common share of the Company (a "Common Share") and one Common Share purchase warrant (each whole Common Share purchase warrant, a "Warrant"). Each Warrant is exercisable to acquire one Common Share (a "Warrant Share") at an exercise price of C$3.25 per Warrant Share for a period of 30 months from the closing of the Offering. The Company has applied to list the warrants for trading on the TSX Venture Exchange. The Warrants will be listed for trading subject to meeting distribution requirements and the other requirements of the TSX Venture Exchange.
The net proceeds of the Offering will be used to expand Delta 9's cannabis cultivation operations and general corporate purposes.
"We were delighted to find that there was such overwhelming demand for the offering", said Delta 9 Chief Executive Officer, John Arbuthnot. "We believe that the proceeds from the base offering provide us with the ability to achieve our stated goal of having 373 grow pods producing 12,000 kilograms of cannabis on an annual basis by the end of 2019. It is our further expectation that the additional proceeds from the over-allotment option as well as anticipated revenues from the sale of cannabis will enable Delta 9 to build additional grow pods and increase its annual cannabis production capacity to well beyond 12,000 kilograms per year by mid-2020."
The Units were offered by way of a short form prospectus filed in all of the provinces of Canada except Québec pursuant to National Instrument 44-101 Short Form Prospectus Distributions.
The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This news release will not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.
About Delta 9 Cannabis Inc.
Delta 9's wholly-owned subsidiary, Delta 9 Bio-Tech Inc., is a licensed producer of medical marijuana pursuant to the ACMPR and operates an approximately 80,000 square foot production facility in Winnipeg, Manitoba, Canada. Delta 9's shares trade on the TSX Venture Exchange under the symbol "NINE".
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.
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the Company's future business plans and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward looking statements in this news release include statements relating to the closing of the Offering, the use of proceeds of the Offering, construction of new grow pods and future revenues from the sale of cannabis. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including that Delta 9's currently contemplated expansion and development plans may cease or otherwise change, Delta 9's production of cannabis may be lower than expected, Delta 9 may not obtain the required approvals from Health Canada, demand for Delta 9's products may be lower than anticipated, Delta 9's cost to produce its grow pods may be higher than expected and all other risk factors set forth in the filing statement of Delta 9 dated October 25, 2017 and the final prospectus of Delta 9 dated December 20, 2017, both of which have been filed on SEDAR. 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 carefully in evaluating the forward-looking statements contained in this news release and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by these cautionary statements. These forward-looking statements are made as of the date hereof and the Company disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.
Future Farm Announces Closing Date to Acquire 10 Acre Greenhouse in Florida
SOURCE: https://www.dailymarijuanaobserver.com/single-post/2017/12/27/FFT-FFRMF-Future-Farm-Announces-Closing-Date-to-Acquire-10-Acre-Greenhouse-in-Florida
Vancouver, British Columbia / TheNewswire / December 27, 2017 - Future Farm Technologies Inc. (the "Company" or "Future Farm") (CSE:FFT) (OTC:FFRMF) is pleased to announce that it has set a closing date of January 4, 2018 on its previously announced 10-acre operating greenhouse acquisition, which generated an estimated $2,600,000 USD in revenue and $400,000 USD in EBITDA for 2017. This acquisition represents a major milestone for the Company and positions it in the emerging Florida cannabis market, estimated by some to have $1 billion in annual sales by 2020.
The Company is also pleased to announce that it has secured a $4,000,000 USD investment, its largest investment to date, from Yorkville Advisors Global, LP ("Yorkville"). Proceeds from the private placement will be used to acquire the previously announced 10-acre operating greenhouse in Florida. The business and associated property have been approved at the county level for cultivation and processing of cannabis.
"Although the Florida acquisition has taken longer than anticipated, we see the Yorkville financing and the revenue-generating acquisition in Florida as major milestones for Future Farm and its shareholders since it puts us in one of the fastest growing cannabis and hemp markets in the country," says William Gildea, Future Farm's CEO and Chairman. "We expect that this acquisition will bring Future Farm $2,600,000 USD in revenue and $400,000 USD in EBITDA, which positions the Company for tremendous growth in 2018 and for years to come."
The greenhouse is in a designated legal grow zone with close proximity to Orlando, which has a local population of almost 2.5 million and attracts over 62 million visitors annually, making it a prime location. Shareholders will be excited to know that the farm is much more than a "zoned for cannabis" piece of land, but also a fully operational greenhouse business already in full production. The greenhouse property, which has been family operated since 1959, currently grows ornamental plants sold in big-box stores throughout North America.
The Company intends to continue operating the greenhouse as is while it applies for licensing as a cannabis cultivator with the State of Florida. The Company is also exploring the possibility of growing hemp on the remaining acreage of farmland.
Under the terms of the Yorkville financing, the Company has agreed to enter into two Secured Convertible Debentures, each bearing annual interest at 8% and repayable within 18-months, or convertible into Common Shares of the Company. Debenture No. 1 is in the Principal Amount of US$2,340,000, that amount and any accrued interest can be converted into Common Shares at a price of C$0.30 per share. Debenture No. 2 is in the Principal Amount of US$1,660,000, that amount and any accrued interest can be converted into Common Shares at a price of C$0.60 per share. In connection with the Debentures, the Company has also granted warrants to purchase 6,459,212 Common Shares at an average price of C$0.56 per share. The warrants expire on December 21, 2020.
As further part of this financing, the Company will pay a 10% broker fee to Moody Capital Solutions Inc., of which fee 3% is due to Atlanta Diversified.
For further information, contact William Gildea, Director, at 617.834.9467.
On behalf of the Board,
Future Farm Technologies Inc.
William Gildea, CEO & Chairman
About Future Farm
Future Farm Technologies Inc. is a Canadian company with projects throughout North America including California, Florida and Maryland. The Company's business model includes developing and acquiring technologies that will position it as a leader in the evolution of Controlled Environment Agriculture (CEA) for the global production of various types of plants, with a focus on cannabis. Future Farm provides scalable, indoor CEA systems that utilize minimal land, water and energy regardless of climate, location or time of year and are customized to grow an abundance of crops close to consumers, therefore minimizing food miles and its impact to the environment. The Company holds an exclusive, worldwide license to use a patented vertical farming technology that, when compared to traditional plant production methods, generates yields up to 10 times greater per square foot of land. The contained system provides many other benefits including 90% less water, fertilizer and land used, less travel costs, seed to sale security, scalability, consistency due to year-round production, cost control, product safety and purity by eliminating environmental variability. The Company also utilizes a leading cannabis oil extraction technology, which enables the Company to process 20lbs/hour of cannabis plant to yield approximately 908 grams/hour of oil.
The Company is also in the business of designing and distributing LED lighting solutions utilizing the COB and MCOB technology. The Company is focused on delivering cost efficient lighting to North America via advanced e-commerce sites the Company owns and operates. LEDCanada.com, which caters to B2B customers, is a supplier of the newest and highest demand LED solutions. The Company also owns and operates COBGrowlights.com, which caters to both large and small agriculture green houses and controlled cultivation centers.
The Company recently acquired the exclusive right to use a patented, augmented reality (AR) technology in the cannabis industry. As described in more detail above, the Company has decided to spin this asset off to its shareholders.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. The Canadian Securities Exchange has not in any way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.