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Yes it is!!!
The winds of change has been coming for some time.
Let's hope that both bodies of Congress can pass legislation to get the 'Safe Banking' to Trumps desk. I believe he will sign it!
Mrone, I see we share another stock. I hold a sizeable stack in TGIFF as well.
MADLONG2029
Did anyone from the board get to the second anniversary party in June?
MADLONG2029
July 3, 2019
1933 Industries Moves into New Cannabis Cultivation Facility with Receipt of Occupancy Permit and Completes 5x Expansion Capacity
This marks the final phase of construction and the beginning of expanded cultivation capacity in Nevada
1933 Industries is pleased to announce that the Company received a permanent Occupancy Permit for its cultivation facility, thereby completing the last step of the construction project initiated to expand cannabis cultivation in Las Vegas, Nevada.
“The completion of our new cultivation facility marks an incredible milestone for our Alternative Medicine Association (AMA) subsidiary”, said Company CEO Mr. Chris Rebentisch. “We are extremely pleased to be able to move into our new facility and begin operations. This is a 5x increase in flower cultivation to fuel the growth of our proprietary AMA branded products and deliver on our white label contracts. Securing a consistent supply of raw materials will have a positive effect on our margins and future revenues and will enable us to attract additional partners.”
Facility Highlights
Total Size: The 67,750 sq. ft. building is spread over two floors and is zoned as a Light Manufacturing – M-1 facility. This will be one of the largest indoor facilities in Las Vegas.
Cultivation Space: The facility was designed to house 15 bloom rooms, 3 veg rooms and 1 clone room. The initial operating canopy will be 22,100 sq. ft. with the ability to expand into another 18,000 sq. ft., if needed.
Cultivation Cycle: On average, the grow cycle is approximately 15 weeks. Once capacity is reached with all 15 flower rooms filled, the Company expects to harvest approximately 1,500 plants every 14 days for a projected 700-800 lbs. of flower per month.
Fertigation System: A Link 4 system controls mixing nutrients (mixing up to 15 different nutrients automatically) and plant watering to each room, according to a pre-defined formula, corresponding to each growth stage. The system controls HVAC, humidification and dehumidification, and oxygen levels with built-in safety alarms in each grow room.
Mr. Tim Spencer, Director of Cultivation remarked, “Link 4 integrates all the environmental systems, allowing us to track all input data points in the cultivation process. We can then drive our crops with data rather than subjective opinions and truly maximize the potential of the facility”.
Consistent Water Supply: The facility includes a 12,000gal Reverse Osmosis Storage system. This feature is significant as the Las Vegas municipal water has a high mineral content and cultivating with clean water is essential for plant health. In addition, the volume of water stored allows the Company to mitigate the risk of a service interruption.
Plant Health and Disease Management: The HVAC System (a Daikin Variable Refrigerant Volume) multi-split air conditioner allows each room to function independently, with no duct-work built between grow rooms. Having a true “sealed” room increases Co2 levels without waste and allows for effective plant quarantining should a disease outbreak arise.
Lighting System: An eFinity 1,100w DEHPS dimmable electronic ballast - from 1,000w to 600w – provides better control of the light spectrum for each stage of the plant. Utilizing a lighting controller provides the ability to ramp up the light intensity in the morning to mimic a natural “sunrise” and slowly turn down the light towards “sunset”, thus giving the plants a more natural lighting pattern and producing the largest yields possible.
Next Steps
Upon securing the transfer of its cultivation license to the new facility, 26 plant varieties, 5,000 clones, and 200 moms will be transported to propagate the new facility and commence operations.
To view our new cultivation facility, please visit:
Congress is moving in the right direction...
This was on Potnetwork.com
House passes banking bill
A bill which includes language removing federal restrictions on banks that do business with cannabis operations was signed by the House of Representatives last week. The bill authorizes the use, distribution, possession, and cultivation of marijuana as long as it is allowed by the state in which it takes place. The provision, which was inserted as an amendment to the Commerce, Justice, Science, and Related Agencies Appropriations Bill, does not differentiate between medical and recreational programs. In the past, some federal measures, such as the Rohrabacher–Farr Amendment, only covered states with medical programs.
This is the first time Congress has ever proposed legislation to protect states with recreational marijuana programs. The latest attempt to prevent federal interference was sponsored by representatives Earl Blumenauer (D-Oregon), Tom McClintock (R-California), and Eleanor Holmes Norton. It is being called the Blumenauer-McClintock-Norton Amendment. The measure was passed by a vote of 267 to 165.
Jul 2, 2019
Politics & Policy
MADLONG2029
Yes, not spending everything today because I believe you may be right!!!
MADLONG2029
Buying opportunities have arrived today!!!
MADLONG2029
Great job Greenwillow, just went to load this. I got a the email TGIFF too!
Management Commentary
Mr. Chris Rebentisch, Chief Executive Officer remarked, “Overall, we are pleased to report strong growth comparatively to our last quarter, driven by rising consumer demand for our AMA cannabis products in Nevada and the impressive growth of our Canna Hemp™ line throughout the United States, which is one of the largest growing cannabis markets globally. Since becoming a publicly-listed issuer two years ago, we have focused on building one of the most valuable and respected CBD brands in the market and in successfully growing THC market share in Nevada, where we continue to be one of the largest suppliers of wholesale branded products in the State, with a major presence in every dispensary. We have spent significantly on the expansion of our infrastructure to support the future growth of our brands and have increased spending in product development, inventory build-out and sales and marketing efforts”.
Mr. Rebentisch added, “Our focus moving forward will be the growth of our consumer packaged goods portfolio and the continuous innovation of our unique, differentiated quality-based brands. We also intend to invest in our hemp extraction facility, automate our manufacturing processes and move into strategic markets. We have sustained organic growth with a strong platform, realized operational efficiencies across the organization and as our new assets come online to deliver higher capacity, we expect increased revenues and margins as we continue on the path to profitability”.
MADLONG2029
Yes I agree!!!
MADLONG2029
Will TGIFF be back down to .20's?
I hope so!!! I'd have to add to my position.
I'm a believer TGIFF will be a solid company well into the future. These dips have just allowed me to add.
So 20's again, heck yea.
MADLONG2029
greenwillow now that we'd be looking to add, we'll never see .20's again.
Awesome news! In the building...
Let the growing begin!!!
MADLONG2029
I would agree, not shady, but not that organized either.
Each site has its own way to calculate MC.
MADLONG2029
Thanks junkHustler for the finding great video!!!
Looks like Halo's thinking of the long term future.
I believe this may be one of the best buys on the cannabis market!
MADMAN2029
TD Ameritrade has MC at 116 million
HamerHead read my earlier post today about this being a pink stock. No oversite at all.
So everyone does their own 'guess' at Mk Cap.
I personally hold a small stack, and hope they are more then a shell for selling stock and making money.
MADLONG2029
Morning all. Just a quick reminder to all the we are talking about a PINK stock. Not even a QB or QX but PINK.
Lets stop pretending like this is anything but that.
Sure there's big plans and we're in test piloting in Walgreens, however there is little or no oversite. Like literally none. So until we move up out just being a PINKY, keep some of that powder dry for the huge disappointment headed this way.
I know many here will beat me up for having an option that doesn't match with yours. But that's OK.
MADLONG2029
One note; My other cannabis and CBD holdings boards don't have all these pumpers as well, just go check out other boards.
They have no plan to bring in revenue!!!
There's lots of cheap cannabis stocks right now!!!
Why risk your money here?
MADLONG2029
Thanks for the new link!
MADLONG2029
Great question because there is a risk in losing out when a big jump happens, and with CBD Unlimited it happens frequently.
I lost all of this once at jump a few months back. You'll see it in the 6 month charts. I didn't buy it back. I thought it was off without me.
My good luck and patience in the pattern I thought I had seen and I bought back in. I don't normally sell my whole stack either.
I would say, the last drop from .71 to .20 did surprise me. I did not expect it to got to .20 again.
I believe in CBD Unlimited LONG too, just saw the pattern and thought I would double up on the stack. So not a downer on anyone who is long.
So, I have not had to make that call yet, and hope I don't ever have too.
MADLONG2029
No way guys, this is the perfect flipper!!!
There have been huge swings that have enabled some great flips.
Almost been predicable since I jumped in the first time at .06
In fact just flipped a huge stack!!! Average purchased at.14 and sold at .57 and rebought twice my huge stack at .21 a little over a week ago!!!!
Put the extra green in my pocket.
Only stock I own that I can do this with...
Just look at the chart and you'll see it as plain as day.
Love CBD Unlimited too.
MADLONG2029
1933 Industries’ Alternative Medicine Association Enters Into Licensing Agreement and Strategic Alliance With DNA Genetics to Bring Premium Cannabis Products to the Nevada Market
VANCOUVER, British Columbia, April 09, 2019 (GLOBE NEWSWIRE) -- 1933 Industries Inc. (the “Company” or “1933 Industries”) (CSE: TGIF) (OTCQX: TGIFF), a licensed cultivator and producer of cannabis flower and concentrates and manufacturer of hemp-derived CBD wellness products, and its subsidiary, Alternative Medicine Association (“AMA”) are pleased to announce a licensing agreement (the “Agreement”) with OG DNA Genetics, Inc. (“DNA”), a globally recognized leading cannabis brand, for the exclusive license to cultivate, manufacture, sell and distribute co-branded cannabis products for a two-year term in the State of Nevada.
DNA has developed expertise in the research and development of cannabis genetics including the breeding, growing, phenotyping and processing of cannabis. In this regard, DNA will provide specific expertise to AMA for the development of a consistent phenotype strain for the cultivation of high-quality cannabis flower in AMA’s new cultivation facility in Las Vegas. Co-branded flower and pre-rolls will be specifically certified by DNA, thus ensuring that all products meet DNA’s high certification standards.
AMA, an established producer in Las Vegas, will provide exclusive cultivation space for the licensed products as well as distribution through AMA’s growing channels to Nevada-licensed cannabis dispensaries. In addition, AMA will provide turn-key marketing and promotional services for the term of the Agreement.
For more than 15 years, genetics bred by DNA have won more than 200 awards in all categories at the most prestigious cannabis events around the world, making DNA a global standard in breeding and growing truly best-in-class strains. Such awards include the High Times ‘Top 10 Strain of the Year’, which was inducted into The High Times seedbank hall of fame in 2009, and the High Times Trailer Blazers Award, for contributions made towards uniting the fields of entrepreneurship, politics and medicine.
“We are excited for the opportunity to partner with such a world renowned brand in our new purpose-built, advanced cultivation facility. Through our strong distribution networks where our products are sold in state-wide dispensaries, AMA controls one of the largest market shares for wholesale branded goods in the state of Nevada,” commented Mr. Chris Rebentisch, USA COO and Founder of Infused. “We will welcome DNA into our first-class platform of education, sales, and customer service. We believe that the partnership between a world-class leader in genetics and a top producer and operator will set the standard for the highest quality products available in the rapidly expanding Nevada market.”
“I just can't wait to be able to land in Vegas and get the same fire we grow at home," said Don Morris, Co-Founder of DNA. “We have always looked at Vegas as a key market and wanted to make sure we had the right partner. With 1933's new state of the art facility and their commitment to education and quality standards, we will really be able to showcase our work and bring the very best in California cannabis to Nevada.”
About OG DNA Genetics Inc.
DNA was rooted in Los Angeles and founded in Amsterdam in 2004 by Don Morris and Aaron Yarkoni. Over the last decade, the Company has built and curated a seasoned genetic library and developed proven standard operating procedures for genetic selection, breeding, and cultivation. In a world that is increasingly opening up to commercial cannabis activity, DNA is positioned to become the first truly geographically-diversified company with multiple partnerships with top-licensed producers and brands that have built their companies and global presence utilizing the “Powered by DNA” model.
Older news, however I didn't see it posted here.
DNA is world class.
MADLONG2029
Have Insiders Been Buying 1933 Industries Inc. (CNSX:TGIF) Shares?
Simply Wall St.June 19, 2019
We've lost count of how many times insiders have accumulated shares in a company that goes on to improve markedly. On the other hand, we'd be remiss not to mention that insider sales have been known to precede tough periods for a business. So we'll take a look at whether insiders have been buying or selling shares in 1933 Industries Inc.
What Is Insider Selling?
It is perfectly legal for company insiders, including board members, to buy and sell stock in a company. However, most countries require that the company discloses such transactions to the market.
We would never suggest that investors should base their decisions solely on what the directors of a company have been doing. But equally, we would consider it foolish to ignore insider transactions altogether. For example, a Columbia University study found that 'insiders are more likely to engage in open market purchases of their own company’s stock when the firm is about to reveal new agreements with customers and suppliers'.
1933 Industries Insider Transactions Over The Last Year
While there weren't any large insider transactions in the last twelve months, it's still worth looking at the trading.
Over the last year, we can see that insiders have bought 120k shares worth CA$61k. In the last twelve months 1933 Industries insiders were buying shares, but not selling. You can see the insider transactions (by individuals) over the last year depicted in the chart below. If you want to know exactly who sold, for how much, and when, simply click on the graph below!
1933 Industries Insiders Bought Stock Recently
Over the last three months, we've seen a bit of insider buying at 1933 Industries. Insiders purchased CA$61k worth of shares in that period. It's good to see the insider buying, as well as the lack of recent sellers. But the amount invested in the last three months isn't enough for us too put much weight on it, as a single factor.
Insider Ownership
Another way to test the alignment between the leaders of a company and other shareholders is to look at how many shares they own. We usually like to see fairly high levels of insider ownership. Insiders own 6.1% of 1933 Industries shares, worth about CA$7.6m, according to our data. Overall, this level of ownership isn't that impressive, but it's certainly better than nothing!
What Might The Insider Transactions At 1933 Industries Tell Us?
It is good to see recent purchasing. We also take confidence from the longer term picture of insider transactions. However, we note that the company didn't make a profit over the last twelve months, which makes us cautious. We would certainly prefer see higher levels of insider ownership but analysis of the insider transactions suggests that 1933 Industries insiders are expecting a bright future. Of course, the future is what matters most. So if you are interested in 1933 Industries.
MADLONG2029
Ms. Louisa Mojela to Speak on Social Justice and Environmental Sustainability at Parliament of the United Kingdom on June 24, 2019
Business Wire Updated: June 21, 2019
Panel Discussion to Take Place During the European Launch of Global Cannabis PartnershipNot for Distribution to U.S. Newswire Servicers or For Dissemination in the United States
TORONTO — Halo Labs Inc. (“Halo” or the “Company”) (NEO: HALO, OTCQX: AGEEF, Germany: A9KN) is pleased to announce that Ms. Louisa Mojela, proposed chairman of Halo and founder and executive chair of Women Investment Portfolio Holdings, will speak on a panel at the European Global Cannabis Partnership launch at the House of Commons on Monday June 24th from 18:40-20:15. Ms. Mojela is a panelist on the Social Justice and Environmental Sustainability panel that will explore the newly-developing European cannabis industry and the unique opportunity to serve as a model for social and environmental sustainability. She will join Ronnie Cowan, MP- House of Commons, among other renowned speakers. The European launch of the Global Cannabis Partnership is being run by Hanway Associates as part of Cannabis Europa sponsored also by Prohibition Partners. Additional details about the event follow:
Panel Name: Social Justice and Environmental Sustainability in the
Cannabis Industry Speakers:
Ronnie Cowan MP – House of Commons
Dr Chandni Hindocha – University College London
Louisa Mojela – Halo Labs, Bophelo Bioscience, Women Investment Portfolio Holdings
Manu Caddie – New Zealand Medical Cannabis Council
Karine Cousineau – The Green Organic Dutchman
Kim Wilson – Global Cannabis Partnership (chair)
Date: Monday 24 June
Location: House of Commons – Committee Room N°10
Schedule:
18:40 – 18:55: Introduction – Kim Wilson, Chief Executive of the GCP
18:55 – 19:35: Panel: Responsible Leadership in the Cannabis Industry
19:35 – 20:15: Panel: Social Justice & Environmental Sustainability in the Cannabis Industry
MADLONG2029
Verify is certainly the name of pinky stock world.
I would add the QX pinks are slightly better than regular pinks...but verify is the name of the game.
I noticed that there are not a lot of pumpers on this specific board, which is a good thing. Several board here are filled with pumpers which, for me is a sign of a company concerned with selling stock not cannabis. Not so here with Halo!
If this hits .42 again I'll load up again.
MADLONG2029
1933 Industries President using her strong sales background to move revenue higher
YouTube · 6/14/2019
https://www.bing.com/videos/search?q=1933+industries&&view=detail&mid=3C6A23319B9A706AF0CE3C6A23319B9A706AF0CE&&FORM=VDRVRV
MADLONG2029
Can't complain about a 10% gain to close the week off.
Glad to be back in!!!
MADLONG2029
We had a nice day, but there will be plenty of dips yet to come add to your stack!!!
I'm counting on it too!
MADLONG2029
Hemp Industry Expert Discusses CBD Unlimiteds Go-to-Market Strategy
8:00 am ET June 18, 2019 (Globe Newswire)
via NEWMEDIAWIRE - CBD Unlimited, Inc. (EDXC), formerly known as Endexx Corporation, a provider of innovative phytonutrient-based nutritional and wellness products, is pleased to share recent company interviews with Proactive Investors.
Mr. Dustin Sullivan, COO of CBD Unlimited, sat down with Proactive Investors to comment on the recent spike in demand for CBD in retail stores. As CBD moves into brick-and-mortar retail across America, the Company continues to see rapid growth as CBD becomes the new mainstream.
Mr. Dustin Sullivan's interview may be viewed here:
https://www.proactiveinvestors.com/companies/stocktube/13603/cbd-unlimited-readies-for-success-with-big-improvements-on-the-production-side-13603.html
Months prior, Mr. Todd Davis, CEO & Chairman of CBD Unlimited, spoke with Proactive Investors commenting on the Company's plan to scale the Company significantly. Since then, the Company broke sales and store count records and looks to update the public on these numbers after the quarter ends.
Mr. Todd Davis' interview may be viewed here:
https://www.proactiveinvestors.com/companies/stocktube/11499/cbd-unlimited-trying-to-scale-from-1mln-company-to-50mln-company-with-its-cbd-infused-dog-treats-11499.html
MADLONG2029
Seems like the smart play...
I'm doing the same!!!
MADLONG2029
Halo Labs Enters Africa Cannabis Market Through Bophelo Acquisition
12:36 pm ET June 18, 2019
Halo Labs Inc (OTC: AGEEF), a Canadian cannabis extraction company, said it will expand globally through the acquisition of Lesotho-based Bophelo Bioscience & Wellness.
Prior to agreeing on the acquisition, Halo Labs and Bophelo were partners working together on a 5-hectare cultivation and production site. Now, Halo plans to acquire all 40.79 million shares of Bophelo for CA$24.7 million ($18.4 million).
Why It's Important
Lesotho is the first African country that allowed growing medical marijuana and consumption for medical patients. The country and region has the potential to become a major export hub for cannabis, given its favorable climate, proximity to Europe and low cost of production.
Need more cannabis news? Check out all of our coverage here.
In a recent report, Prohibition Partners estimated the African cannabis market could reach $7.1 billion by 2023.
Kiran Sindu, CEO of Halo Labs, expects the Bothelo facility to export cannabis to the European market at $10 per gram, while the all-in cost would not exceed $2 per gram.
In addition, the acquisition of Bophelo will provide Halo Labs with an international platform for its cannabis products.
What's Next
Once the facility is fully operational, Bophelo will be able to harvest cannabis twice per annum and will have the potential to produce around 4.6 million of EU GMP compliant cannabis concentrate.
Halo expects the initial planting to take place in November and the first harvest to be completed by the second quarter of 2020.
MADLONG2029
Good news!!!
Thanks for sharing this!
MADLONG2029
I did exactly that.
I sold my entire position at .54 and was hoping for today to finally arrive.
Bought back in at .21
What's a ugly day for some is a buying opportunity for others.
Been frustrated by lack of PR from CBD Unlimited
MADLONG2029
Bulls And Bud Of The Week: Halo Labs And 6 Things To Do In Illinois When Cannabis Becomes Legal
Welcome to the latest installment of "Bulls and Bud," a column where we take a look at some of the most promising stocks and brands in the legal cannabis industry.
Halo Labs
Back in February, I introduced you to a company called Halo Labs (OTC: AGEEF).
This is an Oregon-based manufacturer of cannabis oils and concentrates where it boasts about 20 percent of the Oregon concentrates wholesale market, and has done more than $25 million in revenue. But the company’s recent moves into California and Nevada have given it some serious swagger that’s worth a closer look.
Following its expansion into California and Nevada, Halo has tripled revenues.
The company’s California operations generated $5.3 million, while its Nevada operations generated about $500,000 and its Oregon operations pulled in just over $2 million.
Because Halo built its brand early in Oregon, and had a solid foundation for growth, it was able to successfully swoop into the California and Nevada markets. And this is just the first year. I expect to see continued growth in all three markets, with the lion’s share of revenue coming from California, and the biggest growth coming from Nevada. (Full disclosure: I own shares of Halo.)
Need more cannabis news? Check out all of our coverage here.
One thing I’m really excited about with Halo is the launch of its DabTabs.
DabTabs are ceramic discs that store a pre-measured dose of concentrates or oils and the advantage with these is simple. It’s not as messy as the previous consumption methods available for concentrates. They’re also compatible with most rigs and vaporizers on the market. As long as the heat settings can reach 450 degrees Fahrenheit and the DabTab can fit into the device, these little ceramic discs of pleasure will deliver.
Halo’s DabTabs were launched into more than 140 dispensaries in Oregon. The company also has a partnership with Eaze to sell DabTabs to consumers in Oregon and California, a deal with High Tide (OTC: HITIF) to distribute DabTabs throughout Canada and Europe, and a deal with MariMed (OTC: MRMD) to distribute DabTabs to dispensaries on the East Coast.
Although Halo already runs a tight ship, and is doing quite well increasing revenue and expanding its footprint, I have little doubt these DabTabs will soon be one of the most popular brands in the cannabis market.
Big drop today! Buying opportunity I'm adding in morning.
MADLONG2029
I would agree!
MADLONG2018
The Week In Cannabis: Gillibrand's Legalization Plan, Analyst Ratings, South Africa's CBD Store, And Some Legal News
3:13 pm ET June 9, 2019 (Benzinga)
Halo Labs Inc. (OTC: AGEEF) announced its partnership with High Tide Inc. to introduce Halo-produced products through High Tide’s extensive distribution network throughout Canada, the United States and Europe.
MADLONG2029
Joining the Ranks of Female Leaders in the Cannabis Sector, Ester Vigil Appointed 1933 Industries President
8:30 am ET June 6, 2019 (PR Newswire)
http://www.prnewswire.com/news-releases/joining-the-ranks-of-female-leaders-in-the-cannabis-sector-ester-vigil-appointed-1933-industries-president-300863145.html
MADLONG2029
Into revenue!
Great article which explains why 1933 Industries is my #1 holding.
MADLONG2029
Heavy shorting today!!!
Up to 53% from 26% yesterday.
Not enough pressure for a squeeze, but enough to create downward pressure like we saw today.
Can be buying opportunities...
MADLONG2029
1933 Industries announces board and executive management changes and provides a corporate update
8:30 am ET May 31, 2019 (PR Newswire)
1933 Industries Inc. (the "Company" or "1933 Industries") (CSE: TGIF) (OTCQX: TGIFF) a licensed cultivator and producer of cannabis flower and concentrates and manufacturer of hemp/CBD wellness products, is pleased to announce the appointment of Mr. Chris Rebentisch to the role of Chief Executive Officer, overseeing the Company's operations going forward, effective May 29th, 2019. Mr. Brayden Sutton will remain Chairman of the Board of Directors.
https://mma.prnewswire.com/media/895536/1933_Industries_Inc__1933_Industries_announces_board_and_executi.jpg
The Company also reports that Mr. Terry Taouss has been appointed to the Board of Directors, while Mr. Andrew Richards will be stepping down as Director, effective May 30th, 2019. Mr. Steve Radusch has been named Chief Financial Officer, taking over the position from Mr. Ryan Maarschalk. The Company wishes to thank both Mr. Richards and Mr. Maarschalk for their valuable contributions to the Company over the past year.
Management Appointments
Mr. Rebentisch founded Infused MFG. ("Infused") in 2017, after personally developing the intellectual property for the Company's line of hemp-based, CBD Infused consumer branded goods which experienced over 8,000% growth during its first year. Mr. Rebentisch has been responsible for managing the Company's THC subsidiary, Alternative Medicine Association ("AMA"), and has overseen the Company's expansion initiatives and product growth across the US. He has positioned 1933 Industries as a strong operator in one of the fastest growing cannabis markets in the US and across a number of verticals.
Mr. Sutton is a distinguished figure in the cannabis sector, with over a decade of experience as a company builder in the space, having worked from inception with some of the industry's most recognized names such as Aurora Cannabis and The Supreme Cannabis Company. Under his leadership, Mr. Sutton led the development of the Company and its assets, raised the required capital, and built the Company with sustainable, scalable profitability as the primary goal. He demonstrated strong capital efficient practices that have set the Company apart from its peers and prepared it for the inevitable shift in American sentiment and policy towards cannabis, and CBD in particular. Mr. Sutton's vision and knowledge of the rising opportunities and important trends in the cannabis space in the U.S. and Canada will continue to be utilized as the Company advances to the next growth phase.
Mr. Radusch is a seasoned accounting and finance specialist, bringing over 25 years of experience in financial operations, cash management, corporate restructuring, debt and equity financings, mergers and acquisitions and public company reporting. Adept in the capital markets in the US, Mr. Radusch has public company reporting experience, including preparation of financial statements and filings for both small and large filers. He most recently served as CFO for a licensed cannabis company in Nevada, where he guided that company in its preparation for an eventual exchange listing. Mr. Radusch was the CFO of a start-up technology company where he led the company's capital raising activities and patent protection. He has also served as acting CFO/Controller for divisions in both a $100+ billion Fortune 10 company and a $7 billion Fortune 500 company. Mr. Radusch's appointment as CFO is effective June 17th, 2019.
Board of Directors
The Company is pleased to welcome Mr. Terry Taouss as an independent Director. Mr. Taouss is an entrepreneur with operational experience scaling fast-growing businesses and is currently a Principal of AdProfs. He previously served as President of Tidal Royalty Corp., a publicly-traded cannabis financing company. Prior to that, Mr. Taouss was part of the founding management team at SiteScout, an advertising technology company that he helped profitably lead through its acquisition in 2013. He subsequently served as the Managing Director of Centro Canada, with carriage over strategy, product, marketing and sales, and was a member of the Centro executive team, helping guide strategy for the company's broader technology and services offering. Mr. Taouss is a member of the Law Society of Ontario and practiced corporate law in Canada for several years.
Operational Update
Cultivation facility on track to begin operations
AMA reports that it received a Temporary Occupancy Permit for its cultivation facility, triggering the next round of required inspections. The purpose-built facility with fully automated irrigation and fertigation systems and climate controlled rooms is being readied to accept thousands of clones in order to meet full production targets. AMA has begun to install equipment in preparation for the move.
Extraction capacity expansion to meet rising demand
Well-known for its craft concentrate products, AMA will be expanding its extraction footprint from 500 sq. ft. to over 14,000 sq. ft. Distillate production capacity is expected to increase from 40 liters per month to 200 liters per month, therefore increasing the Company's ability to deliver its branded product line to an undersupplied market. The extraction facility will include a commercial cannabis kitchen for the production of edibles and beverages, expected to be operational in the fall of 2019.
Hemp extraction facility designed as one of the largest in Nevada
The Company reports that it received engineering designs for the proposed hemp extraction and processing facility, which once approved, will allow the Company to move forward with the procurement of equipment for the facility.
Canna Hemp(TM) continues extensive product distribution
Nationally recognized, the Canna Hemp(TM) brand resonates with customers seeking the benefits of CBD and hemp. Canna Hemp(TM) products represent the fastest growing segment of the Company's consumer branded goods and are now available in over 700 retail outlets across the US. Infused reports that it has increased its production space by moving its operations to a 14,000 sq. ft. facility with capacity for over $3M worth of inventory per month.
Management Commentary
Mr. Rebentisch said, "As the first entrant into the legal cannabis market in Las Vegas, we have been able to leverage our early mover advantage to establish our brand, secure our distribution and gain market share. We are the largest single supplier of branded goods in Nevada and sell our CBD line in 46 states. We have a strong sales force, education and brand ambassador programs and licensing agreements for white label production. We are in the process of building and expanding our assets to support our brands and boast the capacity and ability to deliver over 100 products to an undersupplied market". He added, "The management and board reorganization will position the Company for future growth and shareholder value creation as we seek to increase CBD product distribution across the country, secure the supply of raw materials and focus on multi-state and international expansion."
MADLONG2029
Halo Labs Announces Conversion of Debentures into Common Shares
www.businesswire.com/news/home/20190517005501/en/Halo-Labs-Announces-Conversion-Debentures-Common-Shares
MADLONG2029