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Wacko, In a three legged race, which one you'd be?
Made some decent earnings
Thanks Scotty....!
Hello 0101..Biosys. has a place in this market. Once developed and mastered,just like Viagra. To the stratosphere.
Canada's Plans for Near-term Legalization Puts Testing into Focus -- CFN Media
Marketwired MarketwiredApril 4, 2017
SEATTLE, WA--(Marketwired - Apr 4, 2017) - CFN Media Group, the leading creative agency and digital media network dedicated to legal cannabis, announces the publication of an article discussing the planned legalization of cannabis in Canada, the growing and urgent need for testing in both the existing and upcoming legal cannabis markets, and Abattis Bioceuticals Inc.'s ( CSE : ATT ) ( OTCQB : ATTBF ) role via the company's federally-licensed subsidiary, Northern Vine Labs.
According to the CBC, the Canadian government has plans to introduce legislation by April 10, 2017 and legalize the drug by July 1, 2018. The new rules generally follow the recommendations of the federal task force chaired by Anne McLellan, a former justice minister, which included 80 different recommendations in over 100 pages.
According to Markets and Markets, the global cannabis testing market is expected to grow at an 11.5% compound annual growth rate to $1.42 billion by 2021. Cannabis laboratories test for potency, purity, and details like terpene counts, which are both required by lawmakers in the U.S. and Canada and demanded by consumers. This is particularly true after a string of pesticide and contamination scandals that led to several pending class action lawsuits.
Abattis Bioceuticals' Northern Vine Labs plans to open its doors in April 2017 to serve the rising demand for cannabis testing. The facility will be one of the only testing facilities in the lower mainland of British Columbia and one of just 18 approved facilities in Canada. The company plans on testing for any approved patients or licensed producers for potency, constituency, microbial, foreign matter, and others for dried marijuana, oils and edibles.
The company recently added Jaclyn Thomson, PhD, and Dr. David Galvez, PhD, to its senior management team and advisory board, respectively. Ms. Thomson will join the team and be responsible for lab operations and testing protocols by leveraging years of experience in lab operations and academia. In prior roles she oversaw quality assurance, scientific, and regulatory consultation and research activities, among other things.
Dr. Galvez will work with the company to analyze and identify superior strains, extraction methods, and formulations for its programs. Northern Vine Labs' Controlled Substance License enables proprietary methods and services to be offered to current licensed producers within Canada's existing Federal regulatory structure. It also offers Northern Vine Labs' customers, including Abattis, the ability to perform R&D on cannabis and explore unique formulations for licensed producers. Dr. Galvez's prior roles included Director of Research & Development at ZAG Global where he launched several commercial products.
Canada's set to legalize marijuana nationwide on July 1, 2018
Business Insider
Jeremy Berke
Business InsiderMarch 28, 2017
marijuanaView photos
marijuana
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(Canadians, rejoice: You'll soon be able to buy marijuana legally.Robert F. Bukaty/AP)
Marijuana will be legal for all Canadians over the age of 18 by July 1, 2018, CBC News reports, marking Canada's 151st birthday in style.
Prime Minister Justin Trudeau's Liberal Party will officially announce the plan on April 10.
The legislation is expected to easily pass through Parliament, as it holds support from major political parties both to the right, and left of Trudeau's Liberals. As well, a majority of Canadians support legalizing marijuana, according to a recent poll from NRG Research Group.
The plan follows the recommendations laid out by a federal task force — led by former Toronto police chief Bill Blair and former Justice Minister Anne McLellan — and leaves it up to the provincial governments to implement the plan and control how marijuana is sold, reports CBC.
Though the federal government stipulates a minimum age of 18 to purchase marijuana in stores, provinces will be free to raise the age as they see fit. Canadians will also be able to grow up to four marijuana plants in their household.
Trudeau has faced criticism from rival political parties who've accused him of failing to deliver on his campaign promise to legalize marijuana federally by spring of 2017. The April 10 announcement, while not expressly fulfilling the prime minister's intended timeline, will at least assuage those concerns. Canadians go back to the polls in October of 2019.
Anne Mclellan canada marijuanaView photos
Anne Mclellan canada marijuana
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(Anne McLellan, Chair of the Task Force on Cannabis Legalization and Regulation, arrives at a news conference in Ottawa, Ontario, Canada December 13, 2016.REUTERS/Chris Wattie)
The announcement provides some much-needed stability to Canada's marijuana industry after police raided dispensaries in Toronto and Vancouver this month, not to mention the discourse south of the border, where US attorney general Jeff Sessions has hinted at a crackdown of marijuana markets in legalized states.
The firm date to legalize marijuana "provides investors with a greater degree of clarity and certainty of what the recreational market could look like," Cannacord Genuity analyst Neil Maruoka said in a report titled, "Legislation should be the tide to lift all stocks," reports the The Financial Post.
Maruoka noted that now's the time to profit from marijuana stocks, as "there will likely be a lack of positive industry catalysts over the next year or so," once the legislation gets passed.
Marijuana stocks traded up at the news on Monday. Aurora Cannabis (ACBFF) — which Maruoka called his "top pick" — surged 9% Tuesday, while Canopy (ticker:ticker::WEED) was up 11%, though both leveled off on Tuesday afternoon.
The 7 Largest Marijuana Stocks All Have This Dubious Statistic in Common
These are some lofty valuations with little to show for it.
Sean Williams (TMFUltraLong) Mar 27, 2017 at 8:22AM
Seemingly nothing can stop the marijuana industry, or marijuana stocks, at the moment.
Over the past couple of years, we've witnessed a number of major milestones for the cannabis industry. For example, in 2012, Colorado and Washington became the first states where a majority of voters legalized the sale of recreational marijuana to adults ages 21 and up. Since then, an additional six states have joined in. The rapid growth in legal recreational weed sales is what helped push Colorado well over the $1 billion total legal sales mark (medical plus recreational) by the end of October in 2016. Comparatively, legal sales only hit $996.2 million in 2015.
Another interesting milestone involves Ohio and Pennsylvania. The legislatures of both states wound up legalizing medical marijuana in 2016, which could pave a path for other legislatures to save time and follow their lead.
Marijuana buds in a jar sitting atop a pile of cash.
IMAGE SOURCE: GETTY IMAGES.
The largest marijuana stocks have skyrocketed over the past year
This rapid growth in legal pot has create quite the demand for marijuana stocks. The seven largest marijuana stocks by market cap have all put on a show over the past couple of years. Here are those seven "green giants" listed with their market caps as of March 17, 2017, along with their trailing one-year total returns.
GW Pharmaceuticals (NASDAQ:GWPH): $3.0 billion, up 64%
Canopy Growth Corp. (NASDAQOTH:TWMJF): $904 million, up 259%
Aphria (NASDAQOTH:APHQF) $440 million, up 381%
Aurora Cannabis (NASDAQOTH:ACBFF): $482 million, up 299%
AXIM Biotechnologies (NASDAQOTH:AXIM): $562 million, up 1,720%
Corbus Pharmaceuticals (NASDAQ:CRBP): $450 million, up 431%
Medical Marijuana (NASDAQOTH:MJNA): $221 million, up 254%
As you can see, these are some hefty valuations -- and some exceptionally strong moves higher on the heels of marijuana's expansion. With the exception of GW Pharmaceuticals, every one of the largest marijuana stocks has at least tripled in value over the trailing 12 months, with cannabinoid-based drug developer AXIM Biotechnologies skyrocketing more than 1,700%!
Some of you might also be wondering why I've excluded Insys Therapeutics from this list. Despite the Food and Drug Administration approving Syndros, the company's oral dronabinol solution, in July, it still generates practically every cent in revenue from sublingual drug Subsys, which has nothing to do with cannabis. Calling Insys a marijuana stock is a bit of a misnomer, and as such, I've chosen to exclude it.
A person using a magnifying glass to examine a company's balance sheet.
IMAGE SOURCE: GETTY IMAGES.
A "doobie-ous" similarity among marijuana stocks
However, these marijuana stocks have another similarity that goes beyond their growing market caps and their exceptional trailing-one-year performances. They all possess an astronomically high price-to-sales ratio, because all seven of these companies have very little in the way of sales to speak of.
Below, you can see the trailing-12-month revenue totals for all seven of the largest marijuana stocks:
GW Pharmaceuticals: $10.6 million
Canopy Growth Corp.: $22.44 million
Aphria: $11.16 million
Aurora Cannabis: $6.22 million
AXIM Biotechnologies: $0.05 million
Corbus Pharmaceuticals: $1.91 million
Medical Marijuana: $9.22 million
Combined, these seven marijuana stocks with an aggregate valuation of $7 billion have generated a cumulative $61.6 million in sales. That's a frighteningly bad figure for fundamentally focused investors. Here's a closer look at each company's current price-to-sales ratio.
GW Pharmaceuticals: 292.8
Canopy Growth Corp.: 58.5
Aphria: 55.8
Aurora Cannabis: 89.2
AXIM Biotechnologies: 10,296.9
Corbus Pharmaceuticals: 244.6
Medical Marijuana: 46.4
These figures are admittedly high because a few of these marijuana stocks are clinical-stage drug developers. Nonetheless, it's only GW Pharmaceuticals, with its $3.1 billion valuation, that's anywhere close to bringing a strong-selling cannabinoid-based drug to market (cannabinoid-based Sativex is already on the market in Europe, but with minimal annual sales).
Cannabis plant in a lab next to test tubes.
IMAGE SOURCE: GW PHARMACEUTICALS.
In two phase 3 trials each for Lennox-Gastaut syndrome and Dravet syndrome, two rare forms of childhood-onset epilepsy, experimental cannabinoid-based drug Epidiolex easily met its primary endpoint of a statistically significant reduction in seizure frequency. Though a cannabinoid-based drug is no guarantee to be approved by the Food and Drug Administration, it's certainly on the right path to reaching pharmacy shelves. Epidiolex could easily surpass $1 billion in peak annual sales if approved, possibly allowing the company's aggressive valuation to make sense.
The remaining drug developers, including Corbus Pharmaceuticals and AXIM Biotechnologies, are still years away from potential commercialization of their drug pipelines.
Additionally, only two of the aforementioned seven largest marijuana stocks -- Canopy Growth Corp. and Aphria -- have generated positive EBITDA (earnings before interest, taxes, depreciation, and amortization) over the trailing 12 months. Only Aphria was able to turn a profit ($0.03 per share) among the two, albeit it's valued at more than 300 times its EBITDA!
Long story short, cannabis stocks appear to be grossly overvalued on a fundamental basis.
It gets worse
But wait -- there's more.
Donald Trump speaking to Department of Homeland Security employees.
IMAGE SOURCE: U.S. DEPARTMENT OF HOMELAND SECURITY, FLICKR.
In addition to investors probably allowing their emotions to get the better of them when investing in marijuana stocks, they may have overlooked the chilling warning sent from White House press secretary Sean Spicer last month. Spicer indicated that the Trump administration plans to beef up its enforcement of federal marijuana regulations. The good news is that it doesn't look as if medical marijuana is in the crosshairs of the Trump administration, but any chances of recreational marijuana expansion in the U.S., along with an easing of restrictions on the industry, probably went right out the door.
For instance, cannabis businesses have very minimal access to basic banking services, meaning most don't have checking accounts or the ability to open a line of credit. Banks often report to the Federal Deposit Insurance Corporation, which is in turn an independent agency created by Congress. Banks that offer basic banking services to cannabis businesses could be accused of money laundering by the federal government. And so, few banks take that risk, as unlikely as it might be.
Pot companies also get an unfair shake come tax time. U.S. tax code 280E disallows business that sell federally illegal substances from taking normal tax deductions, thus burdening marijuana businesses to pay tax on their gross profit as opposed to net profit.
These are all red flags for investors that should keep them out of marijuana stocks and planted firmly on the sidelines.
The 7 Largest Marijuana Stocks All Have This Dubious Statistic in Common
These are some lofty valuations with little to show for it.
Sean Williams (TMFUltraLong) Mar 27, 2017 at 8:22AM
Seemingly nothing can stop the marijuana industry, or marijuana stocks, at the moment.
Over the past couple of years, we've witnessed a number of major milestones for the cannabis industry. For example, in 2012, Colorado and Washington became the first states where a majority of voters legalized the sale of recreational marijuana to adults ages 21 and up. Since then, an additional six states have joined in. The rapid growth in legal recreational weed sales is what helped push Colorado well over the $1 billion total legal sales mark (medical plus recreational) by the end of October in 2016. Comparatively, legal sales only hit $996.2 million in 2015.
Another interesting milestone involves Ohio and Pennsylvania. The legislatures of both states wound up legalizing medical marijuana in 2016, which could pave a path for other legislatures to save time and follow their lead.
Marijuana buds in a jar sitting atop a pile of cash.
IMAGE SOURCE: GETTY IMAGES.
The largest marijuana stocks have skyrocketed over the past year
This rapid growth in legal pot has create quite the demand for marijuana stocks. The seven largest marijuana stocks by market cap have all put on a show over the past couple of years. Here are those seven "green giants" listed with their market caps as of March 17, 2017, along with their trailing one-year total returns.
GW Pharmaceuticals (NASDAQ:GWPH): $3.0 billion, up 64%
Canopy Growth Corp. (NASDAQOTH:TWMJF): $904 million, up 259%
Aphria (NASDAQOTH:APHQF) $440 million, up 381%
Aurora Cannabis (NASDAQOTH:ACBFF): $482 million, up 299%
AXIM Biotechnologies (NASDAQOTH:AXIM): $562 million, up 1,720%
Corbus Pharmaceuticals (NASDAQ:CRBP): $450 million, up 431%
Medical Marijuana (NASDAQOTH:MJNA): $221 million, up 254%
As you can see, these are some hefty valuations -- and some exceptionally strong moves higher on the heels of marijuana's expansion. With the exception of GW Pharmaceuticals, every one of the largest marijuana stocks has at least tripled in value over the trailing 12 months, with cannabinoid-based drug developer AXIM Biotechnologies skyrocketing more than 1,700%!
Some of you might also be wondering why I've excluded Insys Therapeutics from this list. Despite the Food and Drug Administration approving Syndros, the company's oral dronabinol solution, in July, it still generates practically every cent in revenue from sublingual drug Subsys, which has nothing to do with cannabis. Calling Insys a marijuana stock is a bit of a misnomer, and as such, I've chosen to exclude it.
A person using a magnifying glass to examine a company's balance sheet.
IMAGE SOURCE: GETTY IMAGES.
A "doobie-ous" similarity among marijuana stocks
However, these marijuana stocks have another similarity that goes beyond their growing market caps and their exceptional trailing-one-year performances. They all possess an astronomically high price-to-sales ratio, because all seven of these companies have very little in the way of sales to speak of.
Below, you can see the trailing-12-month revenue totals for all seven of the largest marijuana stocks:
GW Pharmaceuticals: $10.6 million
Canopy Growth Corp.: $22.44 million
Aphria: $11.16 million
Aurora Cannabis: $6.22 million
AXIM Biotechnologies: $0.05 million
Corbus Pharmaceuticals: $1.91 million
Medical Marijuana: $9.22 million
Combined, these seven marijuana stocks with an aggregate valuation of $7 billion have generated a cumulative $61.6 million in sales. That's a frighteningly bad figure for fundamentally focused investors. Here's a closer look at each company's current price-to-sales ratio.
GW Pharmaceuticals: 292.8
Canopy Growth Corp.: 58.5
Aphria: 55.8
Aurora Cannabis: 89.2
AXIM Biotechnologies: 10,296.9
Corbus Pharmaceuticals: 244.6
Medical Marijuana: 46.4
These figures are admittedly high because a few of these marijuana stocks are clinical-stage drug developers. Nonetheless, it's only GW Pharmaceuticals, with its $3.1 billion valuation, that's anywhere close to bringing a strong-selling cannabinoid-based drug to market (cannabinoid-based Sativex is already on the market in Europe, but with minimal annual sales).
Cannabis plant in a lab next to test tubes.
IMAGE SOURCE: GW PHARMACEUTICALS.
In two phase 3 trials each for Lennox-Gastaut syndrome and Dravet syndrome, two rare forms of childhood-onset epilepsy, experimental cannabinoid-based drug Epidiolex easily met its primary endpoint of a statistically significant reduction in seizure frequency. Though a cannabinoid-based drug is no guarantee to be approved by the Food and Drug Administration, it's certainly on the right path to reaching pharmacy shelves. Epidiolex could easily surpass $1 billion in peak annual sales if approved, possibly allowing the company's aggressive valuation to make sense.
The remaining drug developers, including Corbus Pharmaceuticals and AXIM Biotechnologies, are still years away from potential commercialization of their drug pipelines.
Additionally, only two of the aforementioned seven largest marijuana stocks -- Canopy Growth Corp. and Aphria -- have generated positive EBITDA (earnings before interest, taxes, depreciation, and amortization) over the trailing 12 months. Only Aphria was able to turn a profit ($0.03 per share) among the two, albeit it's valued at more than 300 times its EBITDA!
Long story short, cannabis stocks appear to be grossly overvalued on a fundamental basis.
It gets worse
But wait -- there's more.
Donald Trump speaking to Department of Homeland Security employees.
IMAGE SOURCE: U.S. DEPARTMENT OF HOMELAND SECURITY, FLICKR.
In addition to investors probably allowing their emotions to get the better of them when investing in marijuana stocks, they may have overlooked the chilling warning sent from White House press secretary Sean Spicer last month. Spicer indicated that the Trump administration plans to beef up its enforcement of federal marijuana regulations. The good news is that it doesn't look as if medical marijuana is in the crosshairs of the Trump administration, but any chances of recreational marijuana expansion in the U.S., along with an easing of restrictions on the industry, probably went right out the door.
For instance, cannabis businesses have very minimal access to basic banking services, meaning most don't have checking accounts or the ability to open a line of credit. Banks often report to the Federal Deposit Insurance Corporation, which is in turn an independent agency created by Congress. Banks that offer basic banking services to cannabis businesses could be accused of money laundering by the federal government. And so, few banks take that risk, as unlikely as it might be.
Pot companies also get an unfair shake come tax time. U.S. tax code 280E disallows business that sell federally illegal substances from taking normal tax deductions, thus burdening marijuana businesses to pay tax on their gross profit as opposed to net profit.
These are all red flags for investors that should keep them out of marijuana stocks and planted firmly on the sidelines.
The 7 Largest Marijuana Stocks All Have This Dubious Statistic in Common
These are some lofty valuations with little to show for it.
Sean Williams (TMFUltraLong) Mar 27, 2017 at 8:22AM
Seemingly nothing can stop the marijuana industry, or marijuana stocks, at the moment.
Over the past couple of years, we've witnessed a number of major milestones for the cannabis industry. For example, in 2012, Colorado and Washington became the first states where a majority of voters legalized the sale of recreational marijuana to adults ages 21 and up. Since then, an additional six states have joined in. The rapid growth in legal recreational weed sales is what helped push Colorado well over the $1 billion total legal sales mark (medical plus recreational) by the end of October in 2016. Comparatively, legal sales only hit $996.2 million in 2015.
Another interesting milestone involves Ohio and Pennsylvania. The legislatures of both states wound up legalizing medical marijuana in 2016, which could pave a path for other legislatures to save time and follow their lead.
Marijuana buds in a jar sitting atop a pile of cash.
IMAGE SOURCE: GETTY IMAGES.
The largest marijuana stocks have skyrocketed over the past year
This rapid growth in legal pot has create quite the demand for marijuana stocks. The seven largest marijuana stocks by market cap have all put on a show over the past couple of years. Here are those seven "green giants" listed with their market caps as of March 17, 2017, along with their trailing one-year total returns.
GW Pharmaceuticals (NASDAQ:GWPH): $3.0 billion, up 64%
Canopy Growth Corp. (NASDAQOTH:TWMJF): $904 million, up 259%
Aphria (NASDAQOTH:APHQF) $440 million, up 381%
Aurora Cannabis (NASDAQOTH:ACBFF): $482 million, up 299%
AXIM Biotechnologies (NASDAQOTH:AXIM): $562 million, up 1,720%
Corbus Pharmaceuticals (NASDAQ:CRBP): $450 million, up 431%
Medical Marijuana (NASDAQOTH:MJNA): $221 million, up 254%
As you can see, these are some hefty valuations -- and some exceptionally strong moves higher on the heels of marijuana's expansion. With the exception of GW Pharmaceuticals, every one of the largest marijuana stocks has at least tripled in value over the trailing 12 months, with cannabinoid-based drug developer AXIM Biotechnologies skyrocketing more than 1,700%!
Some of you might also be wondering why I've excluded Insys Therapeutics from this list. Despite the Food and Drug Administration approving Syndros, the company's oral dronabinol solution, in July, it still generates practically every cent in revenue from sublingual drug Subsys, which has nothing to do with cannabis. Calling Insys a marijuana stock is a bit of a misnomer, and as such, I've chosen to exclude it.
A person using a magnifying glass to examine a company's balance sheet.
IMAGE SOURCE: GETTY IMAGES.
A "doobie-ous" similarity among marijuana stocks
However, these marijuana stocks have another similarity that goes beyond their growing market caps and their exceptional trailing-one-year performances. They all possess an astronomically high price-to-sales ratio, because all seven of these companies have very little in the way of sales to speak of.
Below, you can see the trailing-12-month revenue totals for all seven of the largest marijuana stocks:
GW Pharmaceuticals: $10.6 million
Canopy Growth Corp.: $22.44 million
Aphria: $11.16 million
Aurora Cannabis: $6.22 million
AXIM Biotechnologies: $0.05 million
Corbus Pharmaceuticals: $1.91 million
Medical Marijuana: $9.22 million
Combined, these seven marijuana stocks with an aggregate valuation of $7 billion have generated a cumulative $61.6 million in sales. That's a frighteningly bad figure for fundamentally focused investors. Here's a closer look at each company's current price-to-sales ratio.
GW Pharmaceuticals: 292.8
Canopy Growth Corp.: 58.5
Aphria: 55.8
Aurora Cannabis: 89.2
AXIM Biotechnologies: 10,296.9
Corbus Pharmaceuticals: 244.6
Medical Marijuana: 46.4
These figures are admittedly high because a few of these marijuana stocks are clinical-stage drug developers. Nonetheless, it's only GW Pharmaceuticals, with its $3.1 billion valuation, that's anywhere close to bringing a strong-selling cannabinoid-based drug to market (cannabinoid-based Sativex is already on the market in Europe, but with minimal annual sales).
Cannabis plant in a lab next to test tubes.
IMAGE SOURCE: GW PHARMACEUTICALS.
In two phase 3 trials each for Lennox-Gastaut syndrome and Dravet syndrome, two rare forms of childhood-onset epilepsy, experimental cannabinoid-based drug Epidiolex easily met its primary endpoint of a statistically significant reduction in seizure frequency. Though a cannabinoid-based drug is no guarantee to be approved by the Food and Drug Administration, it's certainly on the right path to reaching pharmacy shelves. Epidiolex could easily surpass $1 billion in peak annual sales if approved, possibly allowing the company's aggressive valuation to make sense.
The remaining drug developers, including Corbus Pharmaceuticals and AXIM Biotechnologies, are still years away from potential commercialization of their drug pipelines.
Additionally, only two of the aforementioned seven largest marijuana stocks -- Canopy Growth Corp. and Aphria -- have generated positive EBITDA (earnings before interest, taxes, depreciation, and amortization) over the trailing 12 months. Only Aphria was able to turn a profit ($0.03 per share) among the two, albeit it's valued at more than 300 times its EBITDA!
Long story short, cannabis stocks appear to be grossly overvalued on a fundamental basis.
It gets worse
But wait -- there's more.
Donald Trump speaking to Department of Homeland Security employees.
IMAGE SOURCE: U.S. DEPARTMENT OF HOMELAND SECURITY, FLICKR.
In addition to investors probably allowing their emotions to get the better of them when investing in marijuana stocks, they may have overlooked the chilling warning sent from White House press secretary Sean Spicer last month. Spicer indicated that the Trump administration plans to beef up its enforcement of federal marijuana regulations. The good news is that it doesn't look as if medical marijuana is in the crosshairs of the Trump administration, but any chances of recreational marijuana expansion in the U.S., along with an easing of restrictions on the industry, probably went right out the door.
For instance, cannabis businesses have very minimal access to basic banking services, meaning most don't have checking accounts or the ability to open a line of credit. Banks often report to the Federal Deposit Insurance Corporation, which is in turn an independent agency created by Congress. Banks that offer basic banking services to cannabis businesses could be accused of money laundering by the federal government. And so, few banks take that risk, as unlikely as it might be.
Pot companies also get an unfair shake come tax time. U.S. tax code 280E disallows business that sell federally illegal substances from taking normal tax deductions, thus burdening marijuana businesses to pay tax on their gross profit as opposed to net profit.
These are all red flags for investors that should keep them out of marijuana stocks and planted firmly on the sidelines.
Aphria Strengthens US Investment Platform, Increases Position in Copperstate Farms Investors to 18.5%
Marketwired MarketwiredMarch 27, 2017
LEAMINGTON, ONTARIO--(Marketwired - Mar 27, 2017) - Aphria Inc. ("Aphria" or the "Company") (TSX:APH)(APHQF), through its subsidiary Aphria (Arizona) Inc., is pleased to announce that it made an additional investment of $3 million (USD) in Copperstate Farms Investors, LLC ("Investors"). The investment will assist Investors in advancing its capital expenditure program related to extractions, lighting and power generation. This investment increases Aphria's membership units in Investors from 10% to 18.5% of those issued.
Investors owns a 95% interest in Copperstate Farms, LLC ("Copperstate"), a licensed producer of medical cannabis in the State of Arizona. The remaining 5% interest in Copperstate is owned by Aphria, through its subsidiary Aphria (Arizona) Inc.
Copperstate owns approximately 1.7 million square feet of greenhouses in Snowflake, Arizona and plans to bring approximately 348,000 square feet, into medical cannabis production in the fall of this year. Copperstate has received a special use permit for cannabis production in its entire facility by the Town of Snowflake. The Arizona Department of Health Services previously approved Copperstate's initial operations located in 6,000 square feet and will need to approve the expanded cultivation prior to operating the expanded facility. Thereafter, the first harvest is currently expected in early summer with a full harvest on the expanded operation expected late in 2017. Copperstate estimates that its expanded operations are capable of annualized production of approximately 18,000 kgs. The current spot price for wholesale bud in the Arizona market is approximately $3,300 per kilogram. Copperstate has secured 90 different marijuana varieties for eventual offer to its customers. Several of the varieties are currently being tested to determine consumer demand and optimal growing metrics.
"Our expanded investment in Copperstate Farms Investors increases Aphria's exposure to the particularly attractive Arizona medical cannabis market," said Vic Neufeld, Chief Executive Officer, Aphria. "Our partnership with Investors combines Aphria's extensive agriculture and pharmaceutical experience with Copperstate Farms' strong operational expertise, all while strengthening Copperstate's ability to serve Arizona's approximately 115,000 medical marijuana patients. In all, we believe this important partnership has significant long-term growth potential for Aphria."
We Have A Good Thing Growing
Golden Leaf Signs Binding Letter of Agreement to Acquire Cannabis Licenses in Nevada
Marketwired MarketwiredMarch 27, 2017
Golden Leaf Signs Binding Letter of Agreement to Acquire Cannabis Licenses in Nevada
GLH Competitive StrategyClick here for high-resolution version
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TORONTO, ON--(Marketwired - March 27, 2017) - Golden Leaf Holdings Ltd. ("GLH" or the "Company") (CSE:GLH) (GLDFF), a leading cannabis oil solutions company built around recognized brands, is pleased to announce that the Company has signed a binding Letter of Agreement (LOA) to acquire a cultivation license and an extraction license in Nevada from NevWa, LLC ("NevWa") (doing business as Grassroots) (the "Transaction").
NevWa's cultivation and extraction license, based out of Sparks, Nevada, allows for the distribution and sale of products across the state of Nevada, including in Las Vegas and Reno.
Medical marijuana is currently legal in Nevada, and the state's recreational market is scheduled to launch in July 2017. Nevada's medical market also enables reciprocity for patients, whereby patients from other states can legally use their medical marijuana cards in Nevada, opening the medical market to the state's more than 40 million yearly visitors.
Don Robinson, CEO of Golden Leaf Holdings, commented, "Nevada is increasingly being recognized as one of the fastest growing cannabis markets in the U.S. The level of tourism in the state combined with the reciprocity provision in the state's cannabis laws, positions Nevada to become one of the largest and most dynamic markets in the country. Cannabis brands that are on store shelves in Nevada can create brand loyalty throughout the North America. We are excited about this opportunity and confident that it will bring significant value to our Company and our shareholders."
Pursuant to the Transaction, NevWa will receive from GLH US$1.925 million. The Transaction is subject to certain conditions, including receipt of all regulatory and stock exchange approvals and all other necessary third party consents and approvals.
AC Group Financial Inc. (AC Group) acted as advisor to the Company on this acquisition, as well as the three acquisitions previously announced in recent weeks.
A copy of the investor presentation in connection with the previously announced subscription receipt financing with Canaccord Genuity Corp. is available on the Company's investor website at http://goldenleafholdings.com/.
Golden Leaf's Competitive Strategy
The attached chart illustrates the Company's strategy to build a market leader in branded cannabis products that is backed by real science and a commitment to lowest cost manufacturing.
While GLH is currently executing this strategy on an organic basis, the Company and its board of directors believes that it can accelerate growth and market positioning through a strategic, targeted acquisition strategy. Among the acquisition targets that the Company will focus on are existing production/processing/distribution licenses in other states, proprietary oil extraction technologies, and existing leading brands. The strategic acquisition program is intended to drive financial and shareholder value by seeking acquisitions that build GLH's brand portfolio, expand its regional presence and/or add technology and intellectual property.
12, what are you doing here then? Bite the bullet and move on.
Better days ahead.
NETFLIX INSIDE: MEDICAL MARIJUANA.
NETFLIX INSIDE: MEDICAL MARIJUANA.
NETFLIX INSIDE: MEDICAL MARIJUANA.
NETFLIX INSIDE: MEDICAL MARIJUANA.
NETFLIX INSIDE: MEDICAL MARIJUANA.
NETFLIX INSIDE: MEDICAL MARIJUANA.
NETFLIX INSIDE: MEDICAL MARIJUANA.
NETFLIX INSIDE: MEDICAL MARIJUANA.
NETFLIX INSIDE: MEDICAL MARIJUANA.
Aurora Cannabis Appoints Dr. Barry Waisglass as Medical Director
CNW Group CNW GroupMarch 23, 2017
TSXV: ACB
VANCOUVER , March 23, 2017 /CNW/ - Aurora Cannabis Inc. (the "Company" or "Aurora") (ACB.V) (ACBFF) ( Frankfurt : 21P; WKN: A1C4WM) is pleased to announce the appointment of Dr. Barry Waisglass as Medical Director.
Dr. Waisglass, a general practitioner, is one of Canada's most experienced physicians in the clinical use of medical cannabis and cannabinoids. As Aurora's Medical Director, his responsibilities include advising the Company with respect to emerging issues and opportunities with respect to medical cannabis, representing Aurora at Canadian and global medical and cannabis conferences, liaising with medical associations and colleges, participating in the development of new products and new delivery mechanisms, as well as supporting the Company's international market development initiatives.
Prior to his move to Aurora, Dr. Waisglass served as Medical Director for Canadian Cannabis Clinics and CanvasRx, the country's largest network of cannabis medical clinics and cannabis counseling centres. In this role, he provided training to other physicians, and treated patients affected by a wide range of health conditions, including chronic pain, fibromyalgia, mood disorders, spasticity caused by multiple sclerosis, chemotherapy-induced nausea, appetite disorders and epilepsy.
Dr. Waisglass, who received his degree in medicine from the University of Ottawa , has undergone additional professional training in psychotherapy and psychiatric medicine. He is currently a member of the College of Physicians and Surgeons of Ontario , the Canadian Medical Association, and the Ontario Medical Association.
"Barry is an important, strategic, and timely addition, as we expand our operations in Canada and internationally, and we are delighted that he is joining the Aurora team," said Terry Booth , CEO. "He is a deeply respected and widely-consulted clinical expert in the use of cannabis as medicine, and brings invaluable new insights and capabilities to our Company's exceptional management team."
Stock Options Grant to Directors
The Company has granted options to directors Terry Booth , CEO and Steve Dobler , President to purchase common shares of the Company in the aggregate amount of 2,500,000 (the "Options"). The Options will vest evenly on a quarterly basis over three years, and are exercisable for a period of five years at $2.27 per share.
I'm ok with that. I wish there was a way to make every body in the states aware.
I must say the MJ market got slapped around quite a bit in the last 2 days.
What I find satisfying is that ATTBF is still at .12. Personally, I feel
this stock is due for a strong move upward in the next week or so. They
are in a position to set a precedence in this field. Lab work will become
mandatory for all, and only independent labs can report findings that aren't tainted (in theory). In this arena I believe they are worthy of their science.
Nice to see green on my some of my positions, as this was a blood bath for me. I won't give up on ATTBF. I see a greener pasture for them not to long from now.
InMed's Exceptional Management Team Executes Ambitious Plan -- CFN Media
Marketwired MarketwiredMarch 22, 2017
SEATTLE, WA--(Marketwired - Mar 22, 2017) - CFN Media Group ("CannabisFN"), the leading creative agency and digital media network dedicated to legal cannabis, announces the publication of an article discussing InMed Pharmaceuticals Inc.'s ( CSE : IN ) ( OTCQB : IMLFF ) exceptional management team and their unique approach to the market.
The cannabis plant has been used for centuries for its therapeutic benefits, but researchers have only recently started to take a commercial interest in the plant. While the drug discovery process can be a billion dollar endeavor, there are some companies working on more efficient solutions to bring safe and effective cannabinoid-based drugs to market.
Exceptional Team
InMed Pharma has an exceptional management team and board of advisors with broad Healthcare and cannabinoid pharmaceutical-specific experience.
President & CEO Eric Adams is a seasoned biopharmaceutical executive with over 25 years of entrepreneurship and finance experience. Before starting InMed, Mr. Adams served as CEO of enGene Inc., which he led from a nascent start-up to becoming a venture capital-backed leader in gene therapy. He also served in senior roles at QLT Inc., Advanced Tissue Sciences Inc., Abbott Laboratories, and Fresenius AG, among other companies.
Chief Medical Officer, Dr. Ado Muhammed, MD, DPM, MFPM, was formerly the Associate Medical Director for GW Pharmaceuticals plc, the $2.8 billion cannabinoid-based pharmaceutical industry leader. During his time there, Dr. Muhammed was part of the team that developed Sativex, a cannabinoid-based drug designed to treat multiple sclerosis that has been approved in over 15 countries around the world.
Innovative Approach
InMed Pharma has taken a more precise approach to the drug discovery process than most competitors via its bioinformatics platform. Using extensive databases and proprietary algorithms, the technology rapidly identifies cannabinoid combinations that are likely to have an effect on specific diseases. This helps them dramatically shorten the drug discovery period and increases the likelihood of success from the onset of drug development.
Once they've isolated promising cannabinoid compounds, the company isolates the genes responsible for producing them and injects the genes with bacteria that act as a factory for mass producing them in a process similar to the way insulin is manufactured. The company can then combine these various compounds to create unique therapies that target specific diseases without having to worry about costly extraction from entire cannabis plants.
Golden Leaf Signs Binding Letter of Agreement to Acquire Leading Oregon Cannabis Business
Marketwired MarketwiredMarch 22, 2017
Golden Leaf Signs Binding Letter of Agreement to Acquire Leading Oregon Cannabis Business
Chalice FarmsClick here for high-resolution version
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TORONTO, ON--(Marketwired - March 22, 2017) - Golden Leaf Holdings Ltd. ("GLH" or the "Company") (CSE:GLH) (GLDFF), a leading cannabis oil solutions company built around recognized brands, is pleased to announce that the Company has signed a binding Letter of Agreement (LOA) to acquire Chalice LLC ("Chalice Farms") (https://chalicefarms.com/), a leading vertically integrated cannabis company in Oregon (the "Transaction").
In conjunction with the Transaction, the Company has entered into an engagement agreement with Canaccord Genuity Corp. ("Canaccord" or the "Agent") with respect to a best efforts brokered private placement of subscription receipts (the "Subscription Receipts") for anticipated gross proceeds of up to approximately $35 million (the "Offering"). The net proceeds from the Offering are to be used to satisfy the cash component of the purchase price for the Chalice Farms Transaction, as well as to fund the Company's recently announced acquisitions and for existing operations. The Subscription Receipts will be priced in the context of the market.
Strategic Fit for Golden Leaf
Chalice Farms is a leading vertically integrated cannabis business in Oregon, involved with the cultivation, extraction, refinement, marketing and sales of cannabis flower, edibles and oils. Chalice Farms has developed a branded portfolio of cannabis products that have generated significant market penetration and brand equity within the Oregon market.
In addition, Chalice Farms operates a chain of four branded retail dispensary stores in Oregon and was recently dubbed "Cannabis Store of the Year" at the 2017 Dope Magazine Industry Awards in Oregon.
The Company expects the Chalice Farms Transaction to provide several key strategic benefits to GLH, including:
Brand Expansion and Distribution
Leverages Chalice Farms footprint to increase GLH branded product sales
Chalice Farms branded products strengthen and broaden GLH's brand portfolio
Leverages Chalice Farms footprint to increase GLH branded product sales
Chalice Farms branded products strengthen and broaden GLH's brand portfolio
Leading Retail Dispensary Chain
Provides GLH with a market leading dispensary position in Oregon
Establishes a consolidation platform for expansion within Oregon, Washington, the remainder of the U.S. and Canada
Provides GLH with a market leading dispensary position in Oregon
Establishes a consolidation platform for expansion within Oregon, Washington, the remainder of the U.S. and Canada
Synergy Opportunity
Integration of the two companies allows for increased revenues with reduced costs because of synergistic efficiencies
Integration of the two companies allows for increased revenues with reduced costs because of synergistic efficiencies
Don Robinson, CEO of GLH, commented, "We are proud to engage with Cananccord Genuity, the leading investment bank in the cannabis marketplace, to help fund our acquisition strategy. Like the other proposed acquisitions we have recently announced, the acquisition of Chalice Farms brings real strategic and financial value to GLH and our shareholders."
The Transaction
Pursuant to the Transaction, Chalice Farms will receive from GLH, (i) US$15.05 million in cash; and (ii) common shares of GLH having a value of three times Chalice Farms' annualized Q1 2017 gross sales revenue, less US$6.05 million, of which US$4.2 million of common shares will be sold to a third party for cash consideration to Chalice Farms at closing. In addition, Chalice Farms will also receive an amount equal to 1.25 times its audited gross sales revenue for the year-ended December 31, 2017 payable in cash or common shares of GLH, subject to an obligation to pay in cash in certain circumstances.
The Transaction is subject to certain conditions, including CSE and regulatory approval.
Golden Leaf's Competitive Strategy
The attached chart illustrates the Company's strategy to build a market leader in branded cannabis products that is backed by real science and a commitment to lowest cost manufacturing.
While GLH is currently executing this strategy on an organic basis, the Company and its board of directors believes that it can accelerate growth and market positioning through a strategic, targeted acquisition strategy. Among the acquisition targets that the Company will focus on are existing production/processing/distribution licenses in other states, proprietary oil extraction technologies, and existing leading brands. The strategic acquisition program is intended to drive financial and shareholder value by seeking acquisitions that build GLH's brand portfolio, expand its regional presence and/or add technology and intellectual property.
Cronos Execs On Marijuana Legalization In Canada And How It Affects The Co: Market Could Be Ready To Go By 2019
Benzinga
Javier Hasse
BenzingaMarch 21, 2017
In a recent chat with Cronos Group Inc (CVE: MJN) (OTC: PRMCF)’s President and CEO Michael Gorenstein, and its head of marketing and communications, Eric Klein, we looked into the challenges of exporting cannabis, recent corporate news, expansion plans and more. In this last piece, we’ll share the exec’s thoughts on cannabis legalization in Canada and how this would affect the company.
The Timing
Gorenstein and Klein expect to see legislation tabled for about two more months. “Then it will have to go through multiple reads in the Canadian legislative system before enacting it,” the CEO continued.
“I think once that happens, and I think that’s actually on track, it will really be up to provinces to start working on their own frameworks and actually implement their own systems for how distribution and specific regulation will work,” he continued, pointing out this will still take some time.
The Effect On Cronos
Javier Hasse: So, how would this affect the company?
Gorenstein: I think that’s an especially good thing for us, but I believe in terms of a fully set up, ready to go recreational market, it’s probably looking like 2019, in my opinion.
I've also heard that mail order recreational cannabis might go live before a retail framework is established.I think that’s very possible.
As far as how it affects us as a company, we would really be somewhat agnostic. If recreational doesn’t start until 2019, that’s fine with us, because it allows us to continue to focus on the international medical market. We don’t really need recreational cannabis anytime soon to boost demand; there is already a shortage in Canada for the medical market, and when you add in Europe, and other global markets were the regulatory environment is evolving, such as Australia and South America, we don’t anticipate that demand will be a problem.
A Very Different Market
Hasse: How would this process differ from what we’re seeing in some U.S. states?
Gorenstein: I think what’s unique here is it’s the first G7 to legalize recreational cannabis.
People are collecting data and they’re looking at Colorado, Oregon, and Washington; that’s a much different situation than what we have here. Canada highly constrained; there are much fewer producers.
However, in Canada, you’ll be able to use bank accounts, credit cards, it will be out in the open and you’ll see a really full blown legislative process, instead of a gray market legalization.
I don’t think it’s going to look exactly like it does in some of the U.S. states. I think it’s going to be really interesting to see how it develops, but you’ll see multiple different methods of distribution. In addition, I think there will be much tighter restrictions on advertising than what you see in the states, and I think you’ll see a lot of creative and innovative products emerge because it’s a lot easier to put in capex and R&D dollars towards innovative products in Canada than it is in the U.S.
Aphria Continues Success Story With TSX Listing
Marketwired MarketwiredMarch 21, 2017
LEAMINGTON, ONTARIO--(Marketwired - Mar 21, 2017) - Aphria Inc. ("Aphria" or the "Company") (TSX VENTURE:APH)(APHQF), a Health Canada Licensed Producer of medical cannabis products, today announced that the common shares (the "Common Shares") of the Company will begin trading on the Toronto Stock Exchange ("TSX") as of the open of the market on March 22, 2017. The Common Shares will continue to trade under the symbol "APH". In conjunction with listing on the TSX, the Common Shares will be voluntarily delisted from the TSX Venture Exchange prior to the commencement of trading on March 22, 2017.
"Aphria's listing on the TSX represents a major milestone in our strategic growth plan, helping to increase trading liquidity, access a growing investor base interested in the cannabis industry, and raise capital for further investments," said Vic Neufeld, Chief Executive Officer, Aphria. "As one of Canada's leading cannabis companies, we are excited about the opportunities in this rapidly growing market to drive shareholder value and continue Aphria's success story. The TSX is the premier listings destination and this achievement highlights the strength of our experienced management and team, our commitment to providing safe, quality products and our positive growth trajectory."
Backed by over 35 years of experience in agriculture and over 20 years in the pharmaceutical space, Aphria is one of the lowest cost producers in the industry. In January 2017, the Company announced that its Board approved a $137 million capital project to increase Aphria's capacity greenhouse growing footprint capacity from 300,000 square feet to 1 million square feet, positioning the Company to support continued mid-term demand expectations and growth as the market for cannabis expands.
We Have a Good Thing Growing.
HBG, you kill me... if that's them they are stoners!! the guy with the
glass in his hand is starting to drule...
Aurora Cannabis Appoints Neil Belot Chief Global Business Development Officer
CNW Group CNW GroupMarch 21, 2017
TSXV: ACB
VANCOUVER , March 21, 2017 /CNW/ - Aurora Cannabis Inc. (the "Company" or "Aurora") (ACB.V) (ACBFF) ( Frankfurt : 21P; WKN: A1C4WM) is pleased to announce that Neil Belot has been promoted to Chief Global Business Development Officer.
Mr. Belot has held the position of Chief Brand Officer at Aurora since 2015, pre-sales license, with operational oversight of brand, sales, marketing, client care, and digital technology. In his new role, he will focus on developing business opportunities that drive the Company's international growth.
Mr. Belot has been deeply involved with Canada's medical cannabis industry and community for more than seven years under three different federal sets of regulations known as the MMAR, MMPR and the ACMPR. Prior to joining Aurora, Mr. Belot was the Executive Director of the trade association for commercial licensed producers known as the Canadian Medical Cannabis Industry Association. He earned an international finance-focused MBA while studying at Dalhousie University and Copenhagen Business School. Before joining the industry association he managed one of Canada's largest programs for the legislated bulk trading, pricing, hedging, transporting, and supply of energy to a portfolio of over 40 municipal corporate clients with over 15,000 points of distribution.
"Neil's unique talents and exceptional leadership have helped Aurora swiftly establish itself as one of the most respected cannabis companies in Canada . We are thrilled to have him leading our global business development, as federally regulated cannabis markets evolve and expand both here at home and around the world," said Terry Booth , CEO.
Aphria Exercises Warrants for Gross Proceeds of $1.3 Million to Further Fund Tetra's Clinical Trials
Marketwired MarketwiredMarch 20, 2017
OTTAWA, ONTARIO--(Marketwired - Mar 20, 2017) - Tetra Bio-Pharma Inc. ("Tetra Bio" or "the Company") (CSE:TBP)(TBP.CN)(OTC PINK:GRPOF) is pleased to announce that Aphria Inc. (TSX VENTURE:APH)(APHQF) has exercised their 5,000,000 warrants for aggregate gross proceeds of $1,300,000. The proceeds from the warrant exercise will be used to advance the clinical trials being developed in PhytoPain Pharma Inc., a subsidiary of Tetra.
"We would like to thank Aphria for their continued support and investment in the research and development being conducted by the science team at Tetra," said Andre Rancourt, CEO of Tetra Bio-Pharma Inc. "By exercising their warrants ahead of schedule, this further confirms Aphira's commitment to accelerate Tetra's development work. I am pleased to report to shareholders that Tetra is in a solid financial position with over $4 million to continue advancing its strategic plan of becoming a leading bio-pharma organization focused on cannabis."
About Aphria:
Aphria Inc., one of Canada's lowest cost producers, produces, supplies and sells medical cannabis. Located in Leamington, Ontario, the greenhouse capital of Canada. Aphria is truly powered by sunlight, allowing for the most natural growing conditions available. We are committed to providing pharma-grade medical cannabis, superior patient care while balancing patient economics and returns to shareholders. We are the first public licensed producer to report positive cash flow from operations and the first to report positive earnings in consecutive quarters. For more information, visit www.Aphria.com.
About Tetra Bio-Pharma:
Tetra Bio-Pharma is a multi subsidiary publicly traded company (CSE:TBP) engaged in the development of Bio Pharmaceuticals and Natural Health Products containing Cannabis and other medicinal plant based elements.
Tetra Bio-Pharma is focused on combining the traditional methods of medicinal cannabis use with the supporting scientific validation and safety data required for inclusion into the existing bio pharma industry by regulators physicians and insurance companies. More information is available about the company at: www.tetrabiopharma.com.
I agree GBR, his credentials are all we have to go by...I can't imagine they would hire a stooge. They want to make $$$$$$$$$$
Oh, by the way, this DR. Galvez should most definitely get his fair share of the pie. 300,000 sounds fair. He will be the driving force for the success of Northern Vine.
Abattis Welcomes Dr. David Galvez as Science Advisor to Northern Vine
Accesswire AccesswireMarch 20, 2017
VANCOUVER, BC / ACCESSWIRE / March 20, 2017 / Abattis Bioceuticals Corp. (ATTBF) (CSE:ATT) (the "Company" or "Abattis") is pleased to announce that Dr. David Galvez, PhD, will be joining the team to lead Northern Vine's Science Advisory efforts.
Dr. Galvez received his doctorate in Plant Physiology at the University of Alberta and is a seasoned expert in the formulation and commercialization of botanical-based products, with a focus on using traditional, non traditional, and functional ethnobotanical plant extracts and powders. David's previous position was Director of Research & Development at ZAG Global, where he successfully developed and launched four commercial products in the dietary supplement market for pain relief, sleeplessness, relaxation, and anxiety management, both in capsule and 2-oz drink formats. He is widely published in highly ranking peer reviewed scientific journals and has in-depth knowledge on the proper handling and protection of intellectual property.
"We are excited to have someone of David's caliber and industry specific experience join our team at Northern Vine, and look forward to working with him to analyze and identify superior strains, extraction methods, and formulations for our program," stated Rene David, newly appointed board member at Abattis. "Northern Vine is strategically preparing for the future of the legal cannabis industry in Canada and the addition of Dr. Galvez further positions us, not only as a leader in cannabis testing, but also the technology and intellectual property aspects of the business."
"The Cannabis Industry is set to become a powerful economic driver across North America and in Europe. Once economies of scale commoditize the production of raw materials, profits in the sector will be led by players offering value-added products and services. I believe Abattis is uniquely positioned to provide high quality services and finished products in a very specialized niche within the Industry," said Dr. Galvez.
Northern Vine is scheduled to launch next month and management will continue to provide updates in the lead up to this event.
About Abattis Bioceuticals Corp.
Abattis is a specialty agricultural technology and biotechnology company which aggregates, integrates, and invests in agricultural technologies and biotechnology services for the legal cannabis industry developing in Canada. The Company has successfully developed and licensed natural health products, medicines, extractions, and ingredients for the biologics, nutraceutical, bioceutical, and cosmetic markets. The Company is also seeking to acquire exclusive intellectual property rights to agricultural technologies to be employed in extraction and processing of botanical ingredients and compounds. The Company follows strict standard operating protocols, and adheres to the applicable laws of Canada and foreign jurisdictions. For more information, visit the Company's website at: www.abattis.com.
About Northern Vine Canada Inc.
Northern Vine Labs™ is licensed by Health Canada for the possession of Cannabis and related active ingredients, as well as the production of extracts for the purpose of analysis. Northern Vine Labs™ product certification and quality assurances programs incorporate global best practices and procedures for application in the legal Canadian Cannabis market.
I gotta tell ya, every time I scroll down and pass these three guys in this pic they look like they have been eating the samples that are suppose to go to the customers. Especially the guy with the glasses on.....looks like he's picking and choosing which ones are best....lol. No harm meant.
Hey 12, the way I look at it is these are the directors of the company
and they are issuing shares to themselves as they KNOW that Northern Vine is a cash cow that will make them wealthy. I think if you were a director
of a company that had good potential you would too. They have a right to
do this and they did. If you are dissatisfied with this move sell your shares and quite down. We don't want to hear you whine.
Part 2 Cronos Group Execs Discuss The Challenges Of Exporting Cannabis As An Insurance-Reimbursed Product
Benzinga
Javier Hasse
BenzingaMarch 19, 2017
Cronos Group Inc (CVE: MJN) (OTC: PRMCF) is one of the largest licensed cannabis producers in Canada, only trailing a few industry behemoths like CANOPY GROWTH CORP COM NPV (OTC: TWMJF), APHRIA INC COM NPV (OTC: APHQF) and AURORA CANNABIS IN COM NPV (OTCL ACBFF).
A few days ago, Benzinga had the chance to chat with the company’s president and CEO Michael Gorenstein, and its head of marketing and communications, Eric Klein. While there are many interesting aspects to this vertically integrated, geographically diversified business, we were particularly curious about one: exporting marijuana.
Cronos not only produces and sells cannabis in multiple Canadian provinces, but it also ships products to Germany for distribution by partner Pedanios. “We are one of the two Canadian producers that are currently distributing product there,” Gorenstein revealed, adding that roughly 200 pharmacies in the European country currently sell their products.
Javier Hasse: What are the challenges of being a cannabis exporter? What are the difficulties that you face to trade with this substance, taking into account that the U.N. still regards it as a narcotic?
Gorenstein: I think there are a few challenges. The first is really finding a solid and trustworthy partner; I think in the cannabis industry you’ve got a lot of different people that are entering. And, because of how young the industry is, there are a lot of aspiring entrepreneurs that maybe don’t have the most established business.
So, when we are looking to find a trade partner in a country like Germany, where the [legal cannabis] program is just starting, being able to find someone that actually is experienced and is a good and trustworthy partner isn’t an easy thing. So, we are really fortunate that we found the Pedanios guys.
So, I think the first step is finding someone to work with on the other side.
Next, you have to really be able to have a link between the two regulatory agencies and governments. So, you have to have a federally legal program in order for the government to recognize the ability to issue you an import permit and export permit.
Canadian & US Regulations
Discussing export permits, Klein pointed out that, one of the main differences between Canada and the United States is that, “In the U.S., you can’t transport cannabis across state lines, whereas in Canada we have the ability to export both between provinces and internationally (potentially) as the rules and regulations evolve on a global scale.”
Another noticeable difference between the two North American nations is that in the United States, there seems to be a much larger difference between medical and recreational cannabis, Gorenstein added. “I think you see it especially with Spicer’s recent comments.”
Medical & Recreational
Returning to the challenges of exporting weed, Gorenstein said, “we’re exporting under a medical framework to Germany; this makes it easier. But when you talk about recreational, that’s where you run into some problems with the U.N. Convention, and the views on things.”
“Going a step further [...] in order to go through some of the international trade barriers, you have to be up to speed with good manufacturing practices and really be a pharmaceutical grade producer and facility. So, we went through quite a bit of effort to make sure that we were up to spec with our sanitation, with our standard operating procedures, and with our recordkeeping, to have a pharmaceutical grade facility that went beyond the initial regulations and standards we had to meet.”
State Subsidized Weed
One of the most unique characteristics of the German cannabis market is that the state has approved subsidies for medical marijuana, Klein highlighted. “We think [this] opens the doorway for a much larger opportunity as doctors and that market progresses forward.”
“We see Germany and other places in Europe as extremely attractive [markets] because cannabis is treated as a medicine. Like any other medicine, you receive a prescription for it from your doctor, and insurance is mandated to cover it,” Gorenstein added. “That, I believe, is what separates it from other places where everyone is wondering when will recreational legalization come. I believe an insurance-covered medical market is at least as good, if not superior, to a recreational market.”
Only Cronos and GW Pharmaceuticals PLC- ADR (NASDAQ: GWPH) are trading cannabis internationally as an insurance reimbursed product, he concluded.
An International Footprint
Hasse: What’s your vision for the future?
Klein: Ultimately, we’re looking to build an international footprint like these big conglomerates, like Philip Morris International Inc. (NYSE: PM) and Diageo plc (ADR) (NYSE: DEO), which are internationally distributing their products on a global scale.
Gorenstein: The majority of the team started off in the U.S. and a lot of us moved up here, but really that’s what we saw in Canada: It was a very progressive system. We saw the ability, because of the federally legal-program, to have a first mover advantage internationally [and] thought that was huge.
Rather than the U.S. businesses, where you’re worried about the micro-economies within each state and you can’t do business between two states, we can ship among provinces and also internationally. That’s really why exports are so important to us.
Cronos Group Execs Talk About Cannabis Co., Recent 'Bought Deal' And Expansion Plans
Benzinga
Javier Hasse
BenzingaMarch 18, 2017
A few days ago, Benzinga had the chance to chat with Cronos Group Inc (CVE: MJN) (OTC: PRMCF)’s president and CEO Michael Gorenstein and its head of marketing and communications Eric Klein. The execs went into their business, the challenges of exporting cannabis, recent corporate news and more.
Time To Meet Cronos
The Cronos Group is a fully and vertically integrated Canadian cannabis producer and distributor. It is also one of the largest ones, outranked only by a handful of companies like CANOPY GROWTH CORP COM NPV (OTC: TWMJF), APHRIA INC COM NPV (OTC: APHQF) and AURORA CANNABIS IN COM NPV (OTC: ACBFF).
According to Gorenstein, this is the only Canadian producer with facilities and operations in multiple provinces. Their product lines include:
Peace Naturals, a medicinally focused LP in Ontario. “It is actually the first non-incumbent license to be granted under the federally legal program,” Gorenstein said.
In The Zone Produce, a British Columbia LP focused on the recreational market.
Other ventures include:
A partnership with Pedanios to export cannabis to Germany.
Indigenous Roots, a joint venture to create a brand with Canadian First Nations. “The group is led by Phil Fontaine, the former National Chief of Assembly of First Nations,” Klein added. “We’re really focused on producing products for indigenous people and communities that have been historically underserved from a medicinal standpoint,” he said. “We’re really focused on taking social entrepreneurship to the next level. It’s about job creation and infrastructure building, and also wealth creation for a group that’s traditionally been underserved,” Gorenstein went on.
A 21 percent stake in Whistler Medical, “the only currently licensed organic producer that sells 100 percent end products,” according to Gorenstein.
The $17 Million Bought Deal
Last week, Cronos announced a bought deal public offering of approximately $17.3 million.
A bought deal “is in fact a true underwriting where an investment bank actually takes the entire transaction for itself and then goes out and re-sells it to its clients,” Viridian Capital Advisors’ Scott Greiper explained. “That’s not typical in any industry, and it shows the bullishness of Canadian investors in cannabis,” he noted in relation to another bought deal announced in December, where Supreme Pharmaceuticals Inc (CNSX: SL) (OTC: SPRWF) raised almost $41 million.
“In terms of institutional investors, I think one of the things that is unique about the way our company started is that our actual initial funding was coming from institutional investors primarily in New York,” Gorenstein noted.
On this occasion, however, “We wanted to make sure that we were being inclusive and acting like a public company, creating liquidity,” Gorenstein explained. “So, rather than doing another purely internal round of financing [like we had done last time], we started having conversations with banks.”
Spending Millions Of Dollars
Javier Hasse: So, why did you seek this deal? What do you plan to use the proceeds for?
Gorenstein: There was a heavy amount of demand for a bought deal and for investment. We had essentially been receiving indications of interest probably since October or November of 2016.
We just thought that the time was right to open an investor base and start to create liquidity and tell the story of what we’re doing.
Part of why we really wanted to do this investment is [...] a license in Canada isn’t limited to plants, it isn’t based on patients, it isn’t based on kilograms produced; it’s for an address. The opportunity we saw was really one of the largest land packages that is available in the program.
We could build over 5 million square feet of production space on our land and not have to apply for any additional licenses. So, we wanted the capital really just to start developing more of the land, building additional infrastructure and capacity because the demand we’re seeing is extremely significant.
Hasse: Who would you sell all the extra cannabis to?
Gorenstein: I think if we were producing 10 times more product than we’re producing now, we would be able to sell it really without any issues. Between Canada, Germany and other jurisdictions that we’ve been speaking to, there is a heavy amount of demand.
Globally there is estimated to be a $200 billion revenue industry that already exists, and the consumer purchasing habits are already there. We’re one of the first international suppliers to come online, so we want to build very quickly and very aggressively to meet that demand.
Hasse: Are you planning to buy land adjacent to your licensed area to expand?
Gorenstein: We have 125 licensed acres, so we have plenty of space. I don’t believe anyone has more land than that, that is zoned and licensed for cannabis production in Canada. We don’t really need to make any other land acquisitions.
Once we have 5 million square feet built, if at that point we think we still need to produce more, we could either do two stories of production or we could look at land acquisition. But right now we’re focused on building out our footprint in Canada. I think it’s unlikely we would make any very significant land acquisitions in Canada just because we are putting a lot of attention on being a global supplier and distributor.
We think it’s very likely that by the end of the year we will have or will start to break ground on an international producer, outside of Canada.
Hasse: Why would you be interested in producing outside of Canada?
Gorenstein: There are various reasons for that. I think that in terms of establishing (and really cementing) your presence in another country it’s good to have a base of operations there; it’s good to create jobs and awareness of your brand in the community. But also, there are some countries, that because of the nature of where they’re located in the world, the humidity and sunlight profile, the climate, the water, the labor costs [...] you actually can produce cheaper in those locations than you would be able to anywhere in Canada.
Hasse: Are you planning on making investments in verticals, like clinics or agtech companies, as well?
Gorenstein: We haven’t invested in clinics because we’ve just seen there is a shortage in Canada. We’ve focused our investments and our efforts on having the highest product quality, so that we would have organic patients come through. Even if we were to lose every single patient we had in Canada, we’re pretty confident that we could ship all of our product internationally and have nothing leftover.
As far as technology, agriculturally, we absolutely are investing in that, but we’re not investing in external companies; we’re really investing in that in house.
Klein: You don’t see a lot of the larger pharmaceutical companies, the Pfizer Inc. (NYSE: PFE)’s of the world, owning their method of distribution and owning retail locations. So, as we expand our footprint and our distribution channels, we think we can do that focusing on our operations and productions, without necessarily owning the retail centers and locations at this point in time.
THE COLOR OF THE DAY IS GREEN!
THE COLOR OF THE DAY IS GREEN!