BlissCo Cannabis Corp Provides Corporate Update

VANCOUVERMay 23, 2018 /CNW/ –  BlissCo Cannabis Corp. (CSE: BLIS) is pleased to provide a corporate update on the company’s wholly-owned subsidiary, Bliss Co Holdings Ltd. (“BlissCo”).

The BlissCo Management Team (left to right) Vipin Vikraman (QAP Manager), Sean Ty (Controller), Shawn McDougall (Production Manager), Damian Kettlewell (CEO), Rob Kang (CFO) (CNW Group/BlissCo Cannabis Corp.)

“We are seeing tremendous momentum and interest as we continue to expand our team and put all the pieces into place for a successful product launch once our sales license is approved.” said Damian Kettlewell, CEO of Blissco Cannabis Corp.

BlissCo has:

  • Been featured in over 100 articles nationwide discussing the byproduct of cannabis production, its proper disposal and its future opportunities
  • Received an Invitation to participate in a live interview with Midas Letter in Toronto on May 24 at 11:30 am EST
  • Made key hires including:
    • QA Team: Shenna Leung
      • Sheena Leung’s extensive pharmaceutical and food production QAP management experience will position BlissCo well as we look to earn approval from Health Canada for new and innovative medical and adult use cannabis products
    • Branding and Packaging: Enlisted an award-winning Vancouver design agency  specializing in Branding, Packaging Design for Health, Food, Fashion and Lifestyle brands
  • Purchased oil production machinery that uses CO2, producing higher quality product for medical customers and sets BlissCo up to maintain the quality of byproducts for when their use is legal
    • “Selecting CO2 over other methods and processes can save and separate much more by-product from the extraction process. Given where legalization is going, we want to be ready with an array of potential products outside the traditional methods of consuming cannabis or derivatives via sublingual, combustion or vaporization.” said Shawn McDougal, Production Manager, BlissCo.
  • Remains on track to secure sales license in September
  • Expanded supplier relationships for both medical and recreational product
  • Secured an inspection date from Health Canada for May 28 – 31

“We are pleased with the progress that we have seen in the past several weeks. Our six varieties of premium cultivars have adapted well to their new home. We are excited for our continued expansion and are well on our way to obtaining our sales license in September, at which point we will be set up and able to begin sales immediately.” said Kettlewell.

About BlissCo

BlissCo (CSE: BLIS) earned its Access to Cannabis for Medical Purposes Regulation ACMPR License to Cultivate on March 29, 2018. BlissCo’s ACMPR facility in Langley, B.C. is designed to be a high-volume packager, processor and distributor of medical cannabis and adult use cannabis when it is legal in Canada, which is currently anticipated to be by August 2018 at the earliest. BlissCo has a two – year supply agreement with The Supreme Cannabis Company Inc. (TSX.V: FIRE) to purchase 3,000 kilograms of premium dried cannabis.

BlissCo is applying to expand its license to cannabis oil production in Q2 2018 and will apply for its cannabis sales license at the earliest appropriate time. BlissCo will focus on high volume sales opportunities in the regulated medical use and adult use cannabis market in Canadawhen it is legal and is pursuing expansion opportunities in international markets.

On Behalf of the Board of Directors

BLISSCO CANNABIS CORP.

Damian Kettlewell, CEO, Founder & Chair

Cautionary Statement

This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). The use of any of the word “will” and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such forward-looking statements should not be unduly relied upon. This news release contains forward-looking statements and assumptions pertaining to the following: the ability to execute on our strategic plans and the impact on our future operations, capital expenditures, receipt of a cannabis oil license and a license to sell dried cannabis and other objectives, and earning approvals for new and innovative medical and adult use cannabis products. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. The Company does not undertake to update these forward-looking statements, except as required by law.

The CSE has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

SOURCE BlissCo Cannabis Corp.

View original content with multimedia: http://www.newswire.ca/en/releases/archive/May2018/23/c1452.html

Damian Kettlewell, CEO, (604) 484 9119, ext. 3, damian.kettlewell@blissco.comCopyright CNW Group 2018

 

Source: Canada Newswire (May 23, 2018 – 5:20 AM EDT)

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Emerald Health Therapeutics Closes $16.8 Million Prospectus Sale

VICTORIA, British Columbia, May 23, 2018 (GLOBE NEWSWIRE) — Emerald Health Therapeutics, Inc. (TSX-V:EMH) (“Emerald” or the “Company”) has closed its prospectus sale (the “Offering”) to a single Canadian institutional accredited investor (the “Investor”) announced on May 15, 2018. Pursuant to the Offering, the Company has issued 4,000,000 units (the “Units”) at a price per Unit of $4.20 for gross proceeds of $16,800,000.

Each Unit consists of one common share of the Company and one common share purchase warrant (a “Warrant”). Each Warrant will entitle the Investor to acquire one common share of the Company (a “Warrant Share”) at a price of $5.20 per Warrant Share for a period of eighteen months following the closing of the Offering. In the event that the closing sale price of the Company’s common shares (the “Common Shares”) on the TSX Venture Exchange or such other principal stock exchange on which the Common Shares are then listed is greater than $6.50 per Common Share for a period of twenty consecutive trading days at any time after the closing of the Offering, the Company may accelerate the expiry date of the Warrants by giving notice to the Investor and in such case the Warrants will expire on the 30th day after the date on which such notice is given by the Company.

The Units were offered by way of a shelf prospectus supplement filed in all of the provinces of Canada, except Quebec, pursuant to National Instrument 44-101 – Short Form Prospectus Distributions.

The Company intends to use the net proceeds of the Offering to fund the completion of its recently acquired Agro-Biotech facility in Quebec, for working capital, and for general corporate purposes.

The previously announced purchase by the Investor of 2,000,000 Common Shares from Emerald Health Sciences Inc. (“Sciences”), a control person of the Company, at a price of $4.20 per share, has also closed.

Emerald Health Therapeutics, Inc.

Emerald Health Therapeutics (TSX-V:EMH) is a Licensed Producer under Canada’s Access to Cannabis for Medical Purposes Regulations and produces and sells dried cannabis and cannabis oil for medical purposes. Emerald is preparing to serve the anticipated legal Canadian adult-use cannabis market starting in 2018. Emerald owns 50% of a joint venture with Village Farms International, Inc. that is converting an existing 1.1 million square foot greenhouse in Delta, BC to grow cannabis. It owns Agro-Biotech, a Quebec-based licensed cannabis grower with a 75,000 square foot indoor facility and is adding a 500,000 square foot greenhouse in Metro Vancouver. Emerald’s team is highly experienced in life sciences, product development and large-scale agribusiness, and is focused on developing value-added cannabis-based products with potential wellness and medical benefits. Emerald is part of the Emerald Health group, which is broadly focused on developing pharmaceutical, botanical and nutraceutical products that may provide wellness and medical benefits by interacting with the human body’s endocannabinoid system.

Please visit www.emeraldhealth.ca for more information or contact:

Robert Hill, CFO
(800) 757 3536 Ext. #722
invest@emeraldhealth.ca

Cautionary Statements Regarding Forward Looking Information

Certain statements in this press release constitute forward-looking statements, within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, are “forward-looking statements”.

We caution you that such “forward-looking statements” involve known and unknown risks and uncertainties that could cause actual and future events to differ materially from those anticipated in such statements. Forward-looking statements include but are not limited to the use of proceeds of the Offering; the development, expansion and conversion of greenhouse facilities; and the starting of adult-use cannabis market in 2018.

Emerald Health Therapeutics Inc. does not intend, and does not assume any obligation, to update these forward-looking statements except as required by law. These forward-looking statements involve risks and uncertainties relating to, among other things, the ability of the Company to negotiate and complete future funding transactions; variations in market conditions; and other risk factors described in the Company’s second amended and restated base shelf prospectus dated January 31, 2018, prospectus supplement dated May 16, 2018, and the Company’s other filings with the applicable Canadian securities regulators, which may be viewed at  www.sedar.com. Actual results may differ materially from those expressed or implied by such forward-looking statements.

For investor and media contacts:

invest@emerald.care

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

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Source: GlobeNewswire (May 23, 2018 – 8:00 AM EDT)

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Speakeasy closes first tranche $4.9 million financing

VANCOUVERMay 23, 2018 /CNW/ – Speakeasy Cannabis Club Ltd. (CSE: EASY) (Frankfurt: 39H) (the “Company” or “SpeakEasy”) announces it has closed the first tranche of its non-brokered private placement (the “Private Placement”) of 4,900,000 Units (“Units”) at a price of $1.00 per Unit for gross proceeds of $4,900,000. Each Unit will be comprised of one common share of the Issuer (a “Share”) and one common share purchase warrant of the Issuer (each whole warrant, a “Warrant”). Each Warrant will be exercisable into a common share of the Company (a “Warrant Share”) at an exercise price of CDN$1.50 with a year expiry.

Each warrant is subject to accelerated expiry provisions, such that if at any time after the expiry of any resale restriction governing the subscribed shares, the corporation’s common shares trade on the Canadian Securities Exchange at or above a volume-weighted average trading price of $2.00 per common share for 10 consecutive trading days, the Company may give notice to the holders that each warrant will expire 30 days from the date of providing such notice.

The Company intends to exercise its overallotment option to place up to an additional 50-per-cent of the financing.

Finder’s fees or commissions may be payable by the Company in connection with this Private Placement.

The proceeds of this private placement are for the Company’s general working capital.

ON BEHALF OF SPEAKEASY CANNABIS CLUB LTD.

(signed) “Marc Geen

Chief Executive Officer

Not for distribution to United States wire services or dissemination in the United States. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Certain statements included in this press release constitute forward-looking information or statements (collectively, “forward-looking statements”), including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, “may”, “should” and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This press release contains forward looking statements. These forward-looking statements are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties and other factors.

Statements about the Target’s future facility expansion plans or ACMPR license application are all forward-looking information.

Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Factors that could cause the actual results to differ materially from those in forward-looking statements include failure to obtain regulatory approval, the continued availability of capital and financing, and general economic, market or business conditions. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management’s reasonable assumptions, there can be no assurance that the statements will prove to be accurate or that management’s expectations or estimates of future developments, circumstances or results will materialize. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law. Readers should not place undue reliance on the Company’s forward-looking statements.
Neither the Canadian Securities Exchange (the “CSE”) nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

SOURCE SpeakEasy Cannabis Club Ltd.

View original content: http://www.newswire.ca/en/releases/archive/May2018/23/c7005.html

Speakeasy Cannabis Club Ltd., www.speakeasygrowers.com, Telephone: 604-283-1722Copyright CNW Group 2018

 

Source: Canada Newswire (May 23, 2018 – 7:00 AM EDT)

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SpeakEasy Cannabis Club: A Craft Experience with Farming Ingenuity

Canada’s cannabis industry is projected to reach C$22.6 billion over the coming years, according to Deloitte, driven by the legalization of adult-use cannabis. While there are many investment opportunities in the space, investors may want to consider newer entrants that may offer more compelling valuations than established companies. Companies targeting the new recreational market may also have greater upside potential when legalization occurs.

SpeakEasy Cannabis Club (CSE: EASY) is a late-stage ACMPR applicant that’s in the final stages of review. By taking a craft cannabis approach, the company aims to appeal to Millennial recreational buyers and patients looking for precise dosing and unique delivery methods. Investors may want to take a closer look at the company.

Craft Cannabis

Many licensed producers are run by finance executives looking to gain a piece of the lucrative cannabis industry. In contrast, SpeakEasy Cannabis Club’s management team has deep expertise in cannabis and farming.

CEO Marc Geen has over 10 years of experience in the medical cannabis industry helping growers comply with the MMAR, MMPR, and ACMPR programs introduced by Health Canada over the years. Prior to that, he spent 14 years as the head of operations of one of North America’s largest ginseng producers, Kettle Mountain Ginseng Ltd., and is a fourth generation British Columbia farmer that’s knowledgeable when it comes to all aspects of farming.

Chairman Merv Geen served as the Chairman and Director of Sun-Rype Products Ltd. until its eventual sale to Pattison Group in 2013. He also served as a Director of the British Columbia Fruit Growers Association, BC Tree Fruits Ltd., and BC Fruit Packers.

The experienced team aims to aggregate craft style cannabis growers that deliver high quality and low cost to both medical and recreational markets. In particular, the company plans on targeting the Millennial recreational market, which is willing to pay a premium for unique strains with differentiated flavors, aromas, and effects. Its cannabis oil products will also appeal to medical cannabis patients looking for precise dosing and delivery mechanisms.

Significant Expansion

SpeakEasy Cannabis Club’s long-term goal is to develop a cannabis campus housing five craft growers with individual identities and genetics under a single umbrella. With over 300 acres of land – and the potential to expand to 2,000 acres – in the “Napa Valley of Weed”, the company is one of the largest licensed producer landholders with plans to expand into both indoor and outdoor cultivation when Health Canada gives the go-ahead.

The company currently has a fully built 10,000 sq. ft. facility with the capacity to produce 1,100 kilograms of dried cannabis per year, the facility has the potential to generate $7.7 million in annual revenue.

On April 24, the company announced an update on its Phase II build-out.  The company is progressing on schedule and is expected to be completed by early June, 2018.  By the end of September, 2018, the company expects the interior to be completely built out. While the facility was originally planned for 80,000 square feet, utilizing best practices learned from previous developments, the design was optimized to incorporate an extraction facility. The additional space will provide added capacity to accommodate administrative and production staff. The new facility will house 1,600 lights spanning 40,600 square feet of flowering rooms, maximizing available floor space and allowing for a fully controlled and optimized environment to facilitate a harvest every two weeks, and enable the grow teams to complete all procedures in the same day.

Commencing October 2018, Speakeasy Cannabis Club will have an initial production run rate of approximately 8,100 kilograms, increasing to 11,000 kilograms of cannabis per year based on the improvements realized from phase 1 plus the construction of the phase 2 facility. Given the unique climate and location of Rock Creek in British Columbia, the company is in a position to cultivate some of the highest quality cannabis in Canada. With access to significant natural gas, water and electricity, the property’s infrastructure makes Speakeasy Cannabis Club very competitive in comparison with other producers while producing high-quality cannabis at one of the lowest cost per gram in the industry.

On May 17, the company also announced a multi-purpose partnership agreement with Valens GroWorks Corp. (CSE: VGW). Under the terms of the agreement, SpeakEasy will source an interim supply for Valens of 2,500 to 5,000 kilograms per month of cannabis material. Valens Dealer’s License also provides SpeakEasy with a platform to conduct R&D, store cannabis derivatives, export cannabis oils, and process natural health products.

Compelling Valuation

Many licensed producers trade at lofty valuations based on market projections rather than existing revenue. As they scale up operations, many of these licensed producers have had to issue dilutive stock to raise capital since access to the debt markets has been difficult.

In terms of dilution, the company has only issued about 42 million shares to date and plans on having less than 50 million shares outstanding when it receives a cultivation license.

Looking Ahead

SpeakEasy Cannabis Club (CSE: EASY) represents a compelling investment opportunity in Canada’s burgeoning cannabis industry. By aggregating craft growers, the company hopes to rapidly expand its cultivation operations and reach high-margin Millennial recreational buyers, as well as patients looking for precise dosing and unique delivery methods. Investors may want to take a closer look at the stock given the discount to its peer group and the fact that it only recently went public on April 5, 2018, making it a relatively undiscovered opportunity.

For more information, visit the company’s website at www.speakeasygrowers.com

Disclaimer  

The above article is sponsored content. Emerging Growth LLC, which owns CannabisFN.com and CFN Media, has been hired to create awareness. Please follow the link below to view our full disclosure outlining our compensation: http://www.cannabisfn.com/legal-disclaimer/

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The Green Organic Dutchman Receives Organic Certification From Internationally Recognized Ecocert Canada

TORONTO, May 18, 2018 (GLOBE NEWSWIRE) — The Green Organic Dutchman Holdings Ltd. (the “Company” or “TGOD”) (TSX:TGOD) is pleased to announce that on May 9, 2018 its facility based in Ancaster, Ontario received organic certification from Ecocert Canada, an internationally recognized world-leading organization in organic certification.

“This is another step in TGOD’s planned expansion to be the world’s largest branded organic cannabis company. Consumers world-wide are interested in quality products and TGOD will continue to strive to provide the highest quality organic product that complements the natural product preferences of today’s consumer,” said Mr. Robert Anderson, Co-Chairman and CEO.

Ecocert Canada provides inspection and certification for sustainable development and works to maintain rigorous respect of organic standards on products, systems and services. The certification process includes validation of inputs, production methods and preparation procedures according to Canadian organic product regulation. Organic certification aims to guarantee the organic integrity of products throughout the entire production chain.

“TGOD is committed to producing only premium quality organic cannabis products, free from any synthetic nutrients, pesticides or herbicides. We are proud to have met the rigorous standards for organic certification by Ecocert Canada and are excited to offer consumers an organic product range that is held to the highest standards,” stated Mr. David Bernard-Perron, Vice President, Growing Operations.

On Behalf of the Board of Directors,

The Green Organic Dutchman Holdings Ltd.
Robert Anderson
Chief Executive Officer and Co-Chairman


ABOUT THE GREEN ORGANIC DUTCHMAN HOLDINGS LTD.

The Green Organic Dutchman Holdings Ltd. is a research & development company licensed under the Access to Cannabis for Medical Purposes Regulations (“ACMPR”) to cultivate medical cannabis. The Company carries out its principal activities producing cannabis from its facilities in Ancaster, Ont., pursuant to the provisions of the ACMPR and the Controlled Drugs and Substances Act (Canada) and its regulations.

The Company grows high quality, organic cannabis with sustainable, all-natural principles. TGOD’s products are laboratory tested to ensure patients have access to a standardized, safe and consistent product. TGOD has a funded capacity of 116,000 kg and is building 970,000 sq. ft. of cultivation facilities in Ontario and Quebec.

The Company has developed a strategic partnership with Aurora Cannabis Inc. (TSX:ACB) whereby Aurora has invested approximately C$78.1 million for an approximate 17.5% stake in TGOD. To date, the Company has raised approximately C$290 million dollars and has over 5,000 shareholders.

TGOD’s Common Shares and warrants issued under the indenture dated November 1, 2017 trade on the TSX under the symbol “TGOD” and “TGOD.WT”, respectively.

CONTACT INFORMATION

Investor Relations
Email: invest@tgod.ca
Phone: 1 (416) 900-7621
www.tgod.ca

No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities of TGOD have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws. Accordingly, the securities of TGOD may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities of TGOD in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Forward-Looking Information Cautionary Statement

This news release includes statements containing certain “forward-looking information” within the meaning of applicable securities law (“forward-looking statements”). Forward looking statements in this release includes, but is not limited to, statements about the Company’s facilities, production and extraction methods, the Company’s participation in certain product offerings and the future performance of the Company. Forward-looking statements are frequently characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of Toronto Stock Exchange) accept responsibility for the adequacy or accuracy of this release.

 

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The Green Organic Dutchman Receives Organic Certification From Internationally Recognized Ecocert Canada

TORONTO, May 18, 2018 (GLOBE NEWSWIRE) — The Green Organic Dutchman Holdings Ltd. (the “Company” or “TGOD”) (TSX:TGOD) is pleased to announce that on May 9, 2018 its facility based in Ancaster, Ontario received organic certification from Ecocert Canada, an internationally recognized world-leading organization in organic certification.

“This is another step in TGOD’s planned expansion to be the world’s largest branded organic cannabis company. Consumers world-wide are interested in quality products and TGOD will continue to strive to provide the highest quality organic product that complements the natural product preferences of today’s consumer,” said Mr. Robert Anderson, Co-Chairman and CEO.

Ecocert Canada provides inspection and certification for sustainable development and works to maintain rigorous respect of organic standards on products, systems and services. The certification process includes validation of inputs, production methods and preparation procedures according to Canadian organic product regulation. Organic certification aims to guarantee the organic integrity of products throughout the entire production chain.

“TGOD is committed to producing only premium quality organic cannabis products, free from any synthetic nutrients, pesticides or herbicides. We are proud to have met the rigorous standards for organic certification by Ecocert Canada and are excited to offer consumers an organic product range that is held to the highest standards,” stated Mr. David Bernard-Perron, Vice President, Growing Operations.

On Behalf of the Board of Directors,

The Green Organic Dutchman Holdings Ltd.
Robert Anderson
Chief Executive Officer and Co-Chairman


ABOUT THE GREEN ORGANIC DUTCHMAN HOLDINGS LTD.

The Green Organic Dutchman Holdings Ltd. is a research & development company licensed under the Access to Cannabis for Medical Purposes Regulations (“ACMPR”) to cultivate medical cannabis. The Company carries out its principal activities producing cannabis from its facilities in Ancaster, Ont., pursuant to the provisions of the ACMPR and the Controlled Drugs and Substances Act (Canada) and its regulations.

The Company grows high quality, organic cannabis with sustainable, all-natural principles. TGOD’s products are laboratory tested to ensure patients have access to a standardized, safe and consistent product. TGOD has a funded capacity of 116,000 kg and is building 970,000 sq. ft. of cultivation facilities in Ontario and Quebec.

The Company has developed a strategic partnership with Aurora Cannabis Inc. (TSX:ACB) whereby Aurora has invested approximately C$78.1 million for an approximate 17.5% stake in TGOD. To date, the Company has raised approximately C$290 million dollars and has over 5,000 shareholders.

TGOD’s Common Shares and warrants issued under the indenture dated November 1, 2017 trade on the TSX under the symbol “TGOD” and “TGOD.WT”, respectively.

CONTACT INFORMATION

Investor Relations
Email: invest@tgod.ca
Phone: 1 (416) 900-7621
www.tgod.ca

No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities of TGOD have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws. Accordingly, the securities of TGOD may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities of TGOD in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Forward-Looking Information Cautionary Statement

This news release includes statements containing certain “forward-looking information” within the meaning of applicable securities law (“forward-looking statements”). Forward looking statements in this release includes, but is not limited to, statements about the Company’s facilities, production and extraction methods, the Company’s participation in certain product offerings and the future performance of the Company. Forward-looking statements are frequently characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of Toronto Stock Exchange) accept responsibility for the adequacy or accuracy of this release.

 

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BLOCKStrain Announces Closing of Qualifying Transaction

May 22, 2018 – Vancouver, BC – BLOCKSTRAIN TECHNOLOGY CORP. (TSXV: DNAX) (formerly Scorpion Resources Inc.) (NEX:SR.H) (the “Company”) is pleased to announce that it has completed its Qualifying Transaction (as defined in the policies of the TSX Venture Exchange (the “TSXV”)) (the “Transaction”), pursuant to which it acquired all of the issued and outstanding shares of BLOCKStrain Technology Group Inc. (formerly, BLOCKStrain Technology Corp.) (“BLOCKStrain”), a software company building a comprehensive, community-driven cannabis genetics registration and licensing archive platform, dedicated to making it safe and conformable for breeders and growers, large and small, to protect and release their varieties into the public domain, while also being compensated and rewarded. The Company expects to resume trading as a Tier 2 Industrial Issuer on the TSX Venture Exchange (the “TSXV”) under the symbol “DNAX” at market open on Wednesday, May 23, 2018.

In connection with the closing of the Transaction (the “Closing”), the Company:

  • changed its name to “BLOCKStrain Technology Corp.”;
  • issued 35 million common shares on conversion of subscription receipts issued in connection with the concurrent financing for the Transaction, pursuant to which the Company raised aggregate gross proceeds of $10.5 million; and
  • appointed new officers and directors,

all as further described in this news release and in the Company’s filing statement dated May 10, 2018 (the “Filing Statement”) with respect to the Transaction, which is available under the Company’s profile on SEDAR at www.sedar.com.

About BLOCKStrain Technology Corp.

BLOCKStrain is developing a comprehensive, community-driven cannabis genetics registration and licensing archive platform, dedicated to making it safe and conformable for breeders and growers, large and small, to protect and release their varieties into the public domain, while also being compensated and rewarded. It has accomplished this by utilizing blockchain and cryptocurrency features to create an ecosystem that encourages contribution of genetics and intellectual property, coupled with the security, authenticity and verification methods that modern distributed ledger technology provides.

BLOCKStrain combines traditional cannabis culture with modern crypto-technology to deliver a truly intelligent platform powered by the people. By being open and available to everyone, the platform is expected to help shape the future adoption and authenticity of the cannabis industry. Through use of a secure API network, BLOCKStrain makes it easy for testing providers, grow facilities, app and software developers, research groups and major supply chain platforms to build applications and solutions, thereby helping fuel technology and innovation for the cannabis industry as a whole.

With compliance and regulation being a critical priority for industry participants, BLOCKStrain is also expected to enable regulatory standards to be adhered to, while providing real-time visibility and collaboration of industry operations directly to agencies assigned to enforce and regulate cannabis activity nationwide. It uses powerful supply chain and IoT technology to allow for the tracking of cannabis movement from genetics to sale, while providing for the scalability of what is expected to become a globally traded product.

BLOCKStrain was incorporated on November 22, 2017 under the laws of the Province of British Columbia. Its principal operations are currently conducted in Canada. To date, BLOCKStrain has not generated any revenues from its business.

Closing of Qualifying Transaction

In connection with the Closing, the Company acquired all of the issued and outstanding common shares of BLOCKStrain, with BLOCKStrain becoming a wholly-owned subsidiary of the Company. The Company issued one common share to each former shareholder of BLOCKStrain, on a one for one basis. After giving effect to the completion of the Transaction, the Company has 80,204,382 common shares issued and outstanding (on an undiluted basis), with approximately 9.3% of the shares (on an undiluted basis) held by insiders.

New Board of Directors and Management Team

In connection with the Closing, the Company welcomes a new board of directors and management team. The Company will be led by Robert Galarza, as Chief Executive Officer, and Tommy Stephenson as Chief Technology Officer. Anthony Jackson will continue to act as Chief Financial Officer of the Company and has also been appointed as Secretary. The Company’s board of directors will be comprised of Mr. Galarza, Mr. Jackson, Cameron Chell, Michael Kraft and Konstantin Lichtenwald. In connection with the Closing, Quinn Field-Dyte and Von Torres resigned from their respective director and officer positions, and the Company thanks them for their service in bringing the Company to completion of the Transaction.

Closing of Concurrent Financing

Immediately prior to the Closing, the Company converted an aggregate of 35,000,000 previously issued subscription receipts issued pursuant to a non-brokered private placement for gross proceeds of $10,500,000 into common shares on a one for one basis. The proceeds of the concurrent financing are expected to be used for BLOCKStrain’s technology development and licensing, corporate and business development, blockchain and smart contract development, Smart Hub API development and general working capital purposes. The shares issued on conversion of the subscription receipts are subject to a hold period expiring four months and one day after original the issuance of the subscription receipts in March 2018.

Grant of Stock Options

In connection with the Closing, the Company agreed to grant an aggregate of 12,750,000 stock options of the Company, effective as of the date of the Final Exchange Bulletin with respect to the Transaction, to certain consultants, directors, officers, and advisors of the Company. Each of the options will be exercisable into one common share at a price of $0.30 per share for a period of five years following the Closing.

Of the options to be granted, 800,000 will be granted to each of Robert Galarza, Tommy Stephenson, Cameron Chell, Anthony Jackson and Michael Kraft, 100,000 will be granted to Konstantin Lichtenwald, and the balance will be granted to certain employees of, and consultants to, the Company. Each of the options will vest four months from the date of grant, except an aggregate of 200,000 to be granted to Paula Arab and Gary Symons, the principal of Deep Incite Consulting Ltd., located in Kelowna, BC, which, subject to the approval of the TSXV, the Company intends to retain to provide investor relations services for monthly compensation of $9,000. These options will vest over 12 months, with 25% vesting every three months, in accordance with the policies of the TSXV.

No securities of the Company (including, for greater certainty, the shares issued to the former BLOCKStrain shareholders and on conversion of the subscription receipts) have been or will be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or the securities laws of any state, district or commonwealth of the United States (as defined in Regulation S under the U.S. Securities Act). Accordingly, these securities may not be offered or sold, directly or indirectly, within the United States or to or for the account or benefit of any “U.S. Person” (as defined in Regulation S under the U.S. Securities Act), absent an exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release in the United States or any jurisdiction where such offer or sale would be unlawful, or for the account or benefit of any U.S. Person or person within the United States. 

ON BEHALF OF THE BOARD OF DIRECTORS

“Robert Galarza”

Robert Galarza
Chief Executive Officer and Director

For further information, contact Paula Arab at (403) 889-9128.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Disclaimer for Forward-Looking Information

Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the Company’s future business plans. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward looking statements in this news release include statements relating to the expected benefits of, and impact on, the cannabis industry as a result of BLOCKStrain’s technology, other statements regarding the business of BLOCKStrain, the expected date for resumption of trading of the Company’s shares on the TSXV, and the expected use of proceeds of the concurrent financing. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including that: BLOCKStrain’s platform may not operate as expected; the cannabis industry may not use the BLOCKStrain platform once it is built; legislative changes may occur that negatively impact BLOCKStrain’s business; and other factors beyond the Company’s control. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. Readers are urged to consider these factors carefully in evaluating the forward-looking statements contained in this news release and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by these cautionary statements. These forward-looking statements are made as of the date hereof and the Company disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.

SOURCE BLOCKStrain Technology Corp.

For further information: contact Paula Arab at (403) 889-9128.

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The Green Organic Dutchman Announces Exclusive License for CBx Enterprises’ Cannabinoid Technologies

TORONTO, May 22, 2018 (GLOBE NEWSWIRE) — The Green Organic Dutchman Holdings Ltd. (the “Company” or “TGOD”) (TSX:TGOD) is pleased to announce that the Company has entered into an exclusive agreement with CBx Enterprises LLC for the licensing of the Evolab and CBx Sciences brands and proprietary technologies and formulations within Canada and other international jurisdictions outside of the USA.

Based in Colorado, the CBx team brings decades of experience developing and marketing a diverse array of unique, first-to-market medical and recreational cannabis products. The licensing arrangement will immediately expand TGOD’s product and technology portfolio, and position the Company for the successful development of new products as Canadian and global product requirements and standards rapidly evolve.

Evolab is a top cannabinoid vaporization brand that has gained significant market share through the creation of highly differentiated products in a very competitive and saturated market. Evolab’s proprietary technologies and industry-leading extraction efficiencies allow for the derivation of pharmaceutical-grade cannabinoid oils and strain-specific terpenes without the use of any harmful solvents or cutting-agents. These technologies and formulations lead to the creation of much cleaner and safer full-plant oils for vaporization without the introduction of chemicals commonly found in the e-vape industry.

CBx Sciences has an industry-leading team working tirelessly on the research and development of both new and novel cannabinoids as well as authentic premium quality consumer products. With a focus on identifying synergistic and complimentary botanical ingredients to activate and engage the endocannabinoid system, the research behind each advanced CBx formulation is unmatched in the industry. This focus on research as well as a deep understanding of the commercialization of cannabinoid-based products will allow for the development of product formulations that are tailored to each individual jurisdiction’s regulatory requirements for both non-psychoactive and psychoactive cannabinoids.

“TGOD is building an unrivaled global infrastructure for the development and distribution of cutting edge cannabinoid products,” said Nicole Smith, CEO, CBx Enterprises. “With their distinguished leadership team and recent successful execution of the largest cannabis IPO in history, there is no partner better positioned to rapidly extend the reach of our proven products and technology.”

“This licensing partnership for industry leading technologies and formulations will further allow TGOD to execute on its plans of offering novel and safer delivery methods of both non-psychoactive and psychoactive cannabinoids to patients and consumers around the globe,” said Rob Anderson, Co-Chairman and CEO of TGOD. “The team at CBx has vast experience in researching and commercializing new and novel consumer products and cannabinoids, and we are excited to be able to offer a platform to take their cutting-edge technologies and advanced formulations worldwide using TGOD’s premium organic ingredients under TGOD’s own brand names.”

On Behalf of the Board of Directors,

The Green Organic Dutchman Holdings Ltd.
Robert Anderson
Chief Executive Officer and Co-Chairman

ABOUT THE GREEN ORGANIC DUTCHMAN HOLDINGS LTD.

The Green Organic Dutchman Holdings Ltd. is a research & development company licensed under the Access to Cannabis for Medical Purposes Regulations (“ACMPR”) to cultivate medical cannabis. The Company carries out its principal activities producing cannabis from its facilities in Ancaster, Ont., pursuant to the provisions of the ACMPR and the Controlled Drugs and Substances Act (Canada) and its regulations.

The Company grows high quality, organic cannabis with sustainable, all-natural principles. TGOD’s products are laboratory tested to ensure patients have access to a standardized, safe and consistent product. TGOD has a funded capacity of 116,000 kg and is building 970,000 sq. ft. of cultivation facilities in Ontario and Quebec.

The Company has developed a strategic partnership with Aurora Cannabis Inc. (TSX:ACB) whereby Aurora has invested approximately C$78.1 million for an approximate 17.5% stake in TGOD. In addition, the Company has raised approximately C$290 million dollars and has over 5,000 shareholders.

TGOD’s Common Shares and warrants issued under the indenture dated November 1, 2017 trade on the TSX under the symbol “TGOD” and “TGOD.WT”, respectively.

ABOUT CBx ENTERPRISES                                                                                                             

CBx Enterprises is dedicated to advancing the global cannabis industry by creating effective products, formulations and technology platforms for sports medicine, health, beauty and nutraceutical markets. The company holds distribution, licensing and intellectual property agreements with leading cannabis and healthcare brands including CBx Sciences and Evolab, the best-selling vape line in Colorado. Learn more at CBxEnterprises.com

CONTACT INFORMATION

Investor Relations
Email: invest@tgod.ca
Phone: 1 (416) 900-7621

www.tgod.ca

No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities of TGOD have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws. Accordingly, the securities of TGOD may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities of TGOD in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Forward-Looking Information Cautionary Statement

This news release includes statements containing certain “forward-looking information” within the meaning of applicable securities law (“forward-looking statements”). Forward looking statements in this release includes, but is not limited to, statements about the future legalization of recreational cannabis and cannabis-infused products in Canada, statements about the offering of any particular products by the Company and statements regarding the future performance of the Company. Forward-looking statements are frequently characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of Toronto Stock Exchange) accept responsibility for the adequacy or accuracy of this release.

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The Green Organic Dutchman Announces Exclusive License for CBx Enterprises’ Cannabinoid Technologies

TORONTO, May 22, 2018 (GLOBE NEWSWIRE) — The Green Organic Dutchman Holdings Ltd. (the “Company” or “TGOD”) (TSX:TGOD) is pleased to announce that the Company has entered into an exclusive agreement with CBx Enterprises LLC for the licensing of the Evolab and CBx Sciences brands and proprietary technologies and formulations within Canada and other international jurisdictions outside of the USA.

Based in Colorado, the CBx team brings decades of experience developing and marketing a diverse array of unique, first-to-market medical and recreational cannabis products. The licensing arrangement will immediately expand TGOD’s product and technology portfolio, and position the Company for the successful development of new products as Canadian and global product requirements and standards rapidly evolve.

Evolab is a top cannabinoid vaporization brand that has gained significant market share through the creation of highly differentiated products in a very competitive and saturated market. Evolab’s proprietary technologies and industry-leading extraction efficiencies allow for the derivation of pharmaceutical-grade cannabinoid oils and strain-specific terpenes without the use of any harmful solvents or cutting-agents. These technologies and formulations lead to the creation of much cleaner and safer full-plant oils for vaporization without the introduction of chemicals commonly found in the e-vape industry.

CBx Sciences has an industry-leading team working tirelessly on the research and development of both new and novel cannabinoids as well as authentic premium quality consumer products. With a focus on identifying synergistic and complimentary botanical ingredients to activate and engage the endocannabinoid system, the research behind each advanced CBx formulation is unmatched in the industry. This focus on research as well as a deep understanding of the commercialization of cannabinoid-based products will allow for the development of product formulations that are tailored to each individual jurisdiction’s regulatory requirements for both non-psychoactive and psychoactive cannabinoids.

“TGOD is building an unrivaled global infrastructure for the development and distribution of cutting edge cannabinoid products,” said Nicole Smith, CEO, CBx Enterprises. “With their distinguished leadership team and recent successful execution of the largest cannabis IPO in history, there is no partner better positioned to rapidly extend the reach of our proven products and technology.”

“This licensing partnership for industry leading technologies and formulations will further allow TGOD to execute on its plans of offering novel and safer delivery methods of both non-psychoactive and psychoactive cannabinoids to patients and consumers around the globe,” said Rob Anderson, Co-Chairman and CEO of TGOD. “The team at CBx has vast experience in researching and commercializing new and novel consumer products and cannabinoids, and we are excited to be able to offer a platform to take their cutting-edge technologies and advanced formulations worldwide using TGOD’s premium organic ingredients under TGOD’s own brand names.”

On Behalf of the Board of Directors,

The Green Organic Dutchman Holdings Ltd.
Robert Anderson
Chief Executive Officer and Co-Chairman

ABOUT THE GREEN ORGANIC DUTCHMAN HOLDINGS LTD.

The Green Organic Dutchman Holdings Ltd. is a research & development company licensed under the Access to Cannabis for Medical Purposes Regulations (“ACMPR”) to cultivate medical cannabis. The Company carries out its principal activities producing cannabis from its facilities in Ancaster, Ont., pursuant to the provisions of the ACMPR and the Controlled Drugs and Substances Act (Canada) and its regulations.

The Company grows high quality, organic cannabis with sustainable, all-natural principles. TGOD’s products are laboratory tested to ensure patients have access to a standardized, safe and consistent product. TGOD has a funded capacity of 116,000 kg and is building 970,000 sq. ft. of cultivation facilities in Ontario and Quebec.

The Company has developed a strategic partnership with Aurora Cannabis Inc. (TSX:ACB) whereby Aurora has invested approximately C$78.1 million for an approximate 17.5% stake in TGOD. In addition, the Company has raised approximately C$290 million dollars and has over 5,000 shareholders.

TGOD’s Common Shares and warrants issued under the indenture dated November 1, 2017 trade on the TSX under the symbol “TGOD” and “TGOD.WT”, respectively.

ABOUT CBx ENTERPRISES                                                                                                             

CBx Enterprises is dedicated to advancing the global cannabis industry by creating effective products, formulations and technology platforms for sports medicine, health, beauty and nutraceutical markets. The company holds distribution, licensing and intellectual property agreements with leading cannabis and healthcare brands including CBx Sciences and Evolab, the best-selling vape line in Colorado. Learn more at CBxEnterprises.com

CONTACT INFORMATION

Investor Relations
Email: invest@tgod.ca
Phone: 1 (416) 900-7621

www.tgod.ca

No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities of TGOD have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws. Accordingly, the securities of TGOD may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities of TGOD in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Forward-Looking Information Cautionary Statement

This news release includes statements containing certain “forward-looking information” within the meaning of applicable securities law (“forward-looking statements”). Forward looking statements in this release includes, but is not limited to, statements about the future legalization of recreational cannabis and cannabis-infused products in Canada, statements about the offering of any particular products by the Company and statements regarding the future performance of the Company. Forward-looking statements are frequently characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of Toronto Stock Exchange) accept responsibility for the adequacy or accuracy of this release.

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The Green Organic Dutchman Announces Exclusive License for CBx Enterprises’ Cannabinoid Technologies

TORONTO, May 22, 2018 (GLOBE NEWSWIRE) — The Green Organic Dutchman Holdings Ltd. (the “Company” or “TGOD”) (TSX:TGOD) is pleased to announce that the Company has entered into an exclusive agreement with CBx Enterprises LLC for the licensing of the Evolab and CBx Sciences brands and proprietary technologies and formulations within Canada and other international jurisdictions outside of the USA.

Based in Colorado, the CBx team brings decades of experience developing and marketing a diverse array of unique, first-to-market medical and recreational cannabis products. The licensing arrangement will immediately expand TGOD’s product and technology portfolio, and position the Company for the successful development of new products as Canadian and global product requirements and standards rapidly evolve.

Evolab is a top cannabinoid vaporization brand that has gained significant market share through the creation of highly differentiated products in a very competitive and saturated market. Evolab’s proprietary technologies and industry-leading extraction efficiencies allow for the derivation of pharmaceutical-grade cannabinoid oils and strain-specific terpenes without the use of any harmful solvents or cutting-agents. These technologies and formulations lead to the creation of much cleaner and safer full-plant oils for vaporization without the introduction of chemicals commonly found in the e-vape industry.

CBx Sciences has an industry-leading team working tirelessly on the research and development of both new and novel cannabinoids as well as authentic premium quality consumer products. With a focus on identifying synergistic and complimentary botanical ingredients to activate and engage the endocannabinoid system, the research behind each advanced CBx formulation is unmatched in the industry. This focus on research as well as a deep understanding of the commercialization of cannabinoid-based products will allow for the development of product formulations that are tailored to each individual jurisdiction’s regulatory requirements for both non-psychoactive and psychoactive cannabinoids.

“TGOD is building an unrivaled global infrastructure for the development and distribution of cutting edge cannabinoid products,” said Nicole Smith, CEO, CBx Enterprises. “With their distinguished leadership team and recent successful execution of the largest cannabis IPO in history, there is no partner better positioned to rapidly extend the reach of our proven products and technology.”

“This licensing partnership for industry leading technologies and formulations will further allow TGOD to execute on its plans of offering novel and safer delivery methods of both non-psychoactive and psychoactive cannabinoids to patients and consumers around the globe,” said Rob Anderson, Co-Chairman and CEO of TGOD. “The team at CBx has vast experience in researching and commercializing new and novel consumer products and cannabinoids, and we are excited to be able to offer a platform to take their cutting-edge technologies and advanced formulations worldwide using TGOD’s premium organic ingredients under TGOD’s own brand names.”

On Behalf of the Board of Directors,

The Green Organic Dutchman Holdings Ltd.
Robert Anderson
Chief Executive Officer and Co-Chairman

ABOUT THE GREEN ORGANIC DUTCHMAN HOLDINGS LTD.

The Green Organic Dutchman Holdings Ltd. is a research & development company licensed under the Access to Cannabis for Medical Purposes Regulations (“ACMPR”) to cultivate medical cannabis. The Company carries out its principal activities producing cannabis from its facilities in Ancaster, Ont., pursuant to the provisions of the ACMPR and the Controlled Drugs and Substances Act (Canada) and its regulations.

The Company grows high quality, organic cannabis with sustainable, all-natural principles. TGOD’s products are laboratory tested to ensure patients have access to a standardized, safe and consistent product. TGOD has a funded capacity of 116,000 kg and is building 970,000 sq. ft. of cultivation facilities in Ontario and Quebec.

The Company has developed a strategic partnership with Aurora Cannabis Inc. (TSX:ACB) whereby Aurora has invested approximately C$78.1 million for an approximate 17.5% stake in TGOD. In addition, the Company has raised approximately C$290 million dollars and has over 5,000 shareholders.

TGOD’s Common Shares and warrants issued under the indenture dated November 1, 2017 trade on the TSX under the symbol “TGOD” and “TGOD.WT”, respectively.

ABOUT CBx ENTERPRISES                                                                                                             

CBx Enterprises is dedicated to advancing the global cannabis industry by creating effective products, formulations and technology platforms for sports medicine, health, beauty and nutraceutical markets. The company holds distribution, licensing and intellectual property agreements with leading cannabis and healthcare brands including CBx Sciences and Evolab, the best-selling vape line in Colorado. Learn more at CBxEnterprises.com

CONTACT INFORMATION

Investor Relations
Email: invest@tgod.ca
Phone: 1 (416) 900-7621

www.tgod.ca

No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities of TGOD have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws. Accordingly, the securities of TGOD may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities of TGOD in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Forward-Looking Information Cautionary Statement

This news release includes statements containing certain “forward-looking information” within the meaning of applicable securities law (“forward-looking statements”). Forward looking statements in this release includes, but is not limited to, statements about the future legalization of recreational cannabis and cannabis-infused products in Canada, statements about the offering of any particular products by the Company and statements regarding the future performance of the Company. Forward-looking statements are frequently characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of Toronto Stock Exchange) accept responsibility for the adequacy or accuracy of this release.

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Abattis Bioceuticals Announces Release of New Line of Vaporizers

VANCOUVER, British Columbia, May 22, 2018 (GLOBE NEWSWIRE) — Abattis Bioceuticals Corp. (the “Company” or “Abattis“) (CSE:ATT) (OTC:ATTBF) is pleased to announce the addition of three new vaporizers to its product line. Since the Company’s acquisition of Green Tree Therapeutics (“Green Tree”) earlier this year, Abattis has been working to expand its retail presence and product line and is now ready to release its first three vaporizers, the VB-1, VB-2 and the KB-1.

Abattis Bioceuticals Corp.
Image 1
Abattis Bioceuticals Corp.
Image 2
Abattis Bioceuticals Corp.
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Abattis Bioceuticals Corp.
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The “VB-1” is equipped with a 280mAh battery and fires automatically, activating its battery based on airflow. The unit features an ultra-slim and discreet design and a working voltage of 3.3V to 4.2V. The VB-1 includes a universal USB attachment which makes it easy to recharge.

The “VB-2” uses a compact 350mAh variable voltage battery, designed with built-in protections against short-circuiting and overheating, and features a conventional preheating function that the user activates with two clicks of a button. The unit uses working voltages of 3.4V, 3.7V and 4.0V and includes a USB attachment for recharging.

Photos accompanying this announcement available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/a913f2b6-e7c5-4f98-8b22-f1a5f12f5c55

http://www.globenewswire.com/NewsRoom/AttachmentNg/a17129e9-c0a7-47ea-a8fd-a8157b8a1d82

The “KB-1” features an innovative battery designed to look like a luxury car’s key fob, which is ideal for those looking for a discreet device or for use during travel. The cutting-edge device is equipped with a 510-threaded connection that can be closed to house attachments and features a built-in USB charging cable, a long-lasting embedded 350mAh lithium ion battery, a key ring and an LED light indicator. The unit supports most attachments rated as low as 1.2 ohms and operates at 3.7V.

Photos accompanying this announcement are available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/169b5a30-c52e-4354-9965-11bf0f62cd33

http://www.globenewswire.com/NewsRoom/AttachmentNg/abe495c4-235c-4d79-a950-6694e37c12d6

”We believe that the future of the cannabis vaporizer market is in branding, concentrates and ancillary products,” stated Rob Abenante, President and CEO of Abattis. “Users in the retail space are looking for functional, discreet and durable products and we feel that our new titillating product line will meet all these demands. In this, we are excited to take another step towards our goal of becoming a complete one-stop provider of downstream cannabis solutions,” added Mr. Abenante.

About Abattis Bioceuticals Corp.

Abattis is a life sciences and biotechnology company which aggregates, integrates and invests in cannabis technologies and biotechnology services for the legal cannabis industry developing in Canada. The Company has successfully developed and licensed natural health products, medicines, extractions and ingredients for the biologics, nutraceutical, bioceutical and cosmetic markets. The Company is also seeking to acquire exclusive intellectual property rights to agricultural technologies to be employed in extraction and processing of botanical ingredients and compounds.

ON BEHALF OF THE BOARD OF

ABATTIS BIOCEUTICALS CORP.,

“Rob Abenante”

Robert Abenante, President & CEO

For more information, please visit the Company’s website at: www.abattis.com or www.northernvinelabs.com

For inquiries, please contact the Company at (604) 674-8232 or at info@abattis.com.

This press release contains forward-looking statements. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “intends”, “should”, “believe”, “seek” and similar expressions are intended to identify forward-looking statements. Forward-looking statements in this press release include statements regarding: the future of the cannabis vaporizer market being centred on branding, concentrates and ancillary products; the Company’s ability to meet the demands of retail product consumers, going forward; and the Company’s goal of becoming a complete one-stop provider of downstream cannabis solutions. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties, including: that the future of the cannabis vaporizer market is not centred on branding, concentrates and ancillary products; that the Company is unable to meet the demands of retail product consumers, going forward; that the Company will not succeed in its goal of becoming a complete one-stop provider of downstream cannabis solutions; that the Company’s product release is hindered by regulatory, financial or other issues; that the Company’s competitors may develop competing technologies; changes in regulatory requirements; and other factors beyond the Company’s control. Additional risk factors are included in the Company’s Management’s Discussion and Analysis, available under the Company’s profile on www.sedar.com. The forward-looking statements are made as at the date hereof and the Company disclaims any intent or obligation to publicly update any forward-looking statements, where because of new information, future events or results, or otherwise, except as required by applicable securities laws.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAS REVIEWED OR ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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Source: GlobeNewswire (May 22, 2018 – 7:00 AM EDT)

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Pivot Initiates Development of Additives and Formulations for Cannabis Beverage Market

VANCOUVERMay 22, 2018 /CNW/ – Pivot Pharmaceuticals Inc. (CSE: PVOT / OTCQB: PVOTF / FRA: NPAT) (“Pivot” or the “Company”) is pleased to announce that it is has initiated development of CBD and THC additives and formulations for the multi-billion dollar beverage industry using its patented Ready-To-Infuse-Cannabis (“RTIC”) Powder and Solmic Micelle water-soluble technologies. The development program will be led by Pivot’s Executive Director of Formulations, Dr. Leonid Lurya, at the Company’s contract lab in Israel.

Pivot aims to bring finished additives to market that will include bulk cannabis powder for infusion into beverages by multi-national beverage companies and craft brewers interested in entering the massive cannabis market. The Company has already received unsolicited inquiries into the application of both their RTIC and Solmic technology into existing beverages. As well, Pivot is currently developing cannabis in a single-use powder formula sachet and a water-soluble liquid solution in a concentrated dropper bottle that consumers can add to their favourite beverage. The new products are being developed to be flavourless, odourless and will compliment the consumer’s intended beverage experience. Pivot’s beverage formulations will also be designed to provide consistent dosing and be highly bioavailable and assure a rapid onset of cannabinoid effect.

Dr. Patrick Frankham, Pivot’s CEO, stated “Pivot will bring cannabis derivatives to market that are differentiated and backed by science. The beverage market opportunity is just too big to ignore and our patented technologies lend themselves well to this space. Existing solutions are unable to provide consistent dosing nor offer the most effective bioavailability, of which our patented technology is able to remedy. Through Dr. Lurya’s work and our consistent commitment to producing the best available product on the market, it is our intention to supply CBD and THC additives as ingredients for global wine, spirits, beer and energy drink companies who have the capabilities for large scale manufacturing and distribution.”

Cowen and Co. recently revised their cannabis market target by USD $25B as they “now look for the industry to generate USD $75B in sales by 2030 (vs. $50B by 2026 previously). Underpinning this estimate is proprietary analysis on binge drinking behavior, as well as the role that legal cannabis access has in terms of driving trial (measured by cannabis first use rates for 18+ consumers). This work builds on our prior assertions that cannabis acts as a substitute social lubricant for consumers. We believe this is the first time detailed state-level binge drinking statistics have been analyzed and juxtaposed against cannabis use, where we found that legal cannabis states (as of 2016) binge drink 13% fewer times per month than non-cannabis states. Meanwhile, our extensive analysis on the impact that legal cannabis access can have on overall drinking patterns reinforces our conviction that cannabis and alcohol are substitute products.”

About Pivot Pharmaceuticals Inc.

Pivot Pharmaceuticals Inc. is a biopharmaceutical company engaged in the development and commercialization of therapeutic pharmaceuticals and nutraceuticals using innovative drug delivery platform technologies. Pivot’s wholly-owned medical cannabis products division, Pivot Green Stream Health Solutions Inc. (“PGS” or “Pivot Green Stream”), conducts research, development and commercialization of cannabinoid-based nutraceuticals and pharmaceuticals. Pivot’s wholly-owned U.S. subsidiary, Pivot Naturals, LLC, based in Costa Mesa, California, will manufacture and supply finished powderized cannabis products such as food additives, capsules, bulk powder and stick packs to the California market. PGS has acquired worldwide rights to “RTIC” Ready-To-Infuse Cannabis powder to oil technology, BiPhasix™ Transdermal Drug Delivery platform technology (topical), Solmic Solubilisation technology (oral) and Thrudermic Transdermal Nanotechnology (transdermal) for the delivery and commercialization of cannabinoid, cannabidiol (CBD), and tetrahydrocannabinol (THC)-based products.  PGS’ initial product development candidates will include topical treatments for women’s sexual dysfunction (PGS-N005), as well as psoriasis (PGS-N007), and an oral product (PGS-N001) for cancer supportive care. For more information please visit www.PivotPharma.com

Cautionary Statement

Except for historical information contained herein, the matters set forth above may be forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ from those in the forward-looking statements. Words such as anticipate, believe, estimate, expect, intend, and similar expressions, as they relate to Pivot Pharmaceuticals Inc. or Pivot Green Stream Health Solutions Inc. or Pivot Naturals, LLC, or its management, identify forward-looking statements. Such forward-looking statements are based on the current beliefs of management, as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors, such as the failure to meet the conditions imposed by the CSE or other securities regulators, the level of business and consumer spending, the amount of sales of Pivot’s products, the competitive environment within the industry, the ability of Pivot to continue to expand its operations, the level of costs incurred in connection with Pivot’s expansion efforts, economic conditions in the industry, and the financial strength of Pivot’s customers and suppliers. Pivot does not undertake any obligation to update such forward-looking statements. Investors are also directed to consider all other risks and uncertainties.

SOURCE Pivot Pharmaceuticals Inc.

View original content: http://www.newswire.ca/en/releases/archive/May2018/22/c2558.html

Pivot Pharmaceuticals Inc.: Patrick Frankham, PhD, MBA, Chief Executive Officer, Email: Info@PivotPharma.com; Virtus Advisory Group: Investor Relations, Email: Pivot@virtusadvisory.com, Phone: 416-644-5081Copyright CNW Group 2018

 

Source: Canada Newswire (May 22, 2018 – 3:05 AM EDT)

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Future Farm Hires Consultants for Florida Application to Cultivate Cannabis

VANCOUVER, British ColumbiaMay 22, 2018 /PRNewswire/ —

Future Farm Technologies Inc. (the “Company” or “Future Farm”) (CSE: FFT) (OTCQX: FFRMF) is pleased to provide an update with respect to its planned Florida application to cultivate cannabis at its 10-acre operating greenhouse in Apopka.

Future Farm has retained the services of two strategic consultants, Michael Minardi and Brett Puffenbarger, to assist with its application to the Florida Department of Health. The goal is to submit the application after the newly released application form is made final. The Florida Department of Public Health has not stated when that will occur. There is a public hearing on the proposed new form scheduled for May 24, 2018.

Michael Minardi, Esq. is an experienced Florida cannabis law attorney. He has counseled other applicants who successfully received licenses. Attorney Minardi is the campaign manager of Regulate Florida, part of the NORML legal committee, and serves as a board member of The Silver Tour, Minorities 4 Medical Marijuana and The Florida Cannabis Action Network. He is also a board member and legal director of NORML Florida.

Brett Puffenbarger is a consultant to companies in the cannabis industry with extensive knowledge, contacts, and resources in all facets of the cannabis industry, from education to activism, extraction equipment to compliance. He is also a Marine Corps veteran. Mr. Puffenbarger has acted as General Manager of Florida’s first dispensary and has been trained in cannabis business operations and software such as Biotrack THC, LightShade, and CultureED. Mr. Puffenbarger founded The Cannabis Consort and Professor Cannabis in order to provide patients, doctors, dispensaries and secondary market companies with the most up to date and easy to understand information regarding all aspects of the cannabis industry.

“Our team already had a good start to the application, but we are excited to have the guidance and local expertise that Mike and Brett bring to our efforts,” states Bill Gildea, Future Farm’s CEO.

Florida now has over 100,000 registered medical cannabis patients. The Florida Office of Medical Marijuana Use is currently processing over 2,000 applications per week and it is expected that the number will continue to grow significantly over the next few years. Much of that projected growth is believed to be due to the large number of retirees residing in Florida. Analysts have also predicted that the Florida cannabis market will grow to be second largest in the United States after California, which in the last quarter of 2017 represented 34% percent of legal cannabis sales in the US. Combined legal cannabis sales for ColoradoWashington and Oregon in the same period were 41% of the US total.

While it prepares to file the application, Future Farm continues to operate and develop its 10-acre greenhouse in Apopka, Florida, which sells ornamental flowers to large retailers nationwide. The greenhouse is in a designated legal grow zone with proximity to Orlando, which has a local population of almost 2.5 million and attracts over 62 million visitors annually, making it a prime location.

On behalf of the Board,

Future Farm Technologies Inc.

William Gildea, Chairman and CEO

About Future Farm Technologies Inc.

Future Farm is a Canadian company with holdings throughout North America including CaliforniaMassachusettsFloridaMainePuerto Rico and Newfoundland. The Company’s mission is to advance sustainable agriculture through production of wholesale and retail cannabis products, including hemp. As a leader in its field, Future Farm is committed to using only the highest quality processes and products. Towards this goal, the Company acquires or partners with licensed cannabis operators, and acquires or develops leading technologies in cannabis production, breeding, genetics, and Controlled Environment Agriculture (CEA). Future Farm’s scalable, indoor CEA systems utilize minimal land, water and energy resources. The Company holds an exclusive, worldwide license to use a patented vertical farming technology that, when compared to traditional plant production methods, generates yields up to 10 times greater per square foot of land.

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. The Canadian Securities Exchange has not in any way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.

For further information, contact:
William Gildea
Director
+(888)387-3761

SOURCE Future Farm Technologies Inc.

 

Source: PR Newswire (May 22, 2018 – 8:00 AM EDT)

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Koios Launches Clinical Trials to Study Efficacy of Drinks

VANCOUVERMay 22, 2018 /CNW/ – Koios Beverage Corp. (CSE: KBEV; OTC: SNOVF) (the “Company” or “Koios“), which makes brain healthy beverages that can improve cognitive function, is pleased to announce it has entered into an agreement with NeuraPerformance/Neuroptimize Brain Center whereby NeuraPerformance/Neuroptimize will perform full clinical brain scans on Koios users.

NeuraPerformance/Neuroptimize is the go-to brain lab and physiotherapy clinic for Colorado’s elite athletes, including the Denver Broncos football team. The centre specializes in brain mapping, brainwave optimization, enhancing sports performance, baseline concussion testing and treatment.

NeuraPerformance/Neuroptimize will also stock and sell Koios beverages in the future, at its numerous locations.

“Our respective companies have a shared vision and passion for mental health and performance,” said Rachel Ragsdale, director of brain mapping, neurofeedback and counselling at NeuraPerformance/Neuroptimize. “Helping them demonstrate the efficacy of their products is something we truly look forward to doing.  Additionally, adding their products to our platform of services creates tremendous value for our clients and the people we are trying to help.  Mixing technical science with their stellar products is a win for everyone.”

The full clinical brain-scan study may provide evidence that Koios products may enhance cognition over the long term and help the Company fine-tune its beverages’ performance.

“For many years we have been looking for the right partner and platform to test our technologies and products,” said Chris Miller, CEO of Koios. “Not only will this clinical trial further substantiate our product formulation, but the data collected will pave the way to creating better technologies within our portfolio, and fulfiling our mission of creating some of the most functional organic products that support and enhance brain health and performance.”

The initial results of the study are expected in July.

About the Company’s Business

The Company, through its wholly-owned subsidiary Koios, Inc., is an emerging functional beverage company which has an available distribution network of more than 2,000 retail locations across the United States in which to sell its products. Koios has relationships with some of the largest and most reputable distributors in the United States, including Europa Sports, Muscle Foods USA, KeHE, and Wishing-U-Well.  Together these distributors represent more than 80,000 bricks and mortar locations across the United States – from sports nutrition stores to large natural grocery chains including Whole Foods and Sunflower markets.  Through its partnership with Wishing-U-Well, Koios also enjoys a large presence online, including being an Amazon choice product.

Koios uses a proprietary blend of nootropics and natural organic compounds to enhance human productivity without using harmful chemicals or stimulants.  Koios products can enhance focus, concentration, mental capacity, memory retention, cognitive function, alertness, brain capacity and create all day mental clarity.  Its ingredients are specifically designed to target brain function by increasing blood flow, oxygen levels and neural connections in the brain.

Koios is one of the only drinks in the world to infuse its products with MCT oil.  MCT oil is derived from coconuts and has been shown to help the body burn fat more effectively, create lasting energy from a natural food source, produce ketones in the brain, allowing for greater brain function and clarity, support healthy hormone production and improve immunity. For more information, please visit our website: https://www.mentaltitan.com/

On behalf of the Board of Directors of the Company.

KOIOS BEVERAGE CORP.

“Chris Miller”
Chris Miller, CEO and Director

Forward-Looking Statements

This news release contains forward-looking statements. All statements, other than statements of historical fact that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future are forward-looking statements. Forward-looking statements in this news release include statements with respect to the statement that the clinical scans will yield scientific evidence regarding the efficacy of the Company’s products and enable the Company to improve its products; and the statement that the initial results of the clinical scans are expected in July. The forward-looking statements reflect management’s current expectations based on information currently available and are subject to a number of risks and uncertainties that may cause outcomes to differ materially from those discussed in the forward-looking statements including: (i) adverse market conditions; (ii) the inability of the Company and NeuraPerformance/Neuroptimize to complete the clinical scans on time or at all; and (iii) that the clinical scans, if completed, may not yield scientific evidence of the efficacy of the Company’s products. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, levels of activity or performance. Further, any forward-looking statement speaks only as of the date on which such statement is made and, except as required by applicable law, the Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events. New factors emerge from time to time, and it is not possible for management to predict all of such factors and to assess in advance the impact of such factors on the Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statement. Readers should consult all of the information set forth herein and should also refer to the risk factor disclosure outlined in the Company’s documents filed from time-to-time with the British Columbia Securities Commission on SEDAR at www.sedar.com.

Koios has not conducted any scientific studies on the effects of Koios’ products which have been evaluated by Health Canada or the U.S. Food and Drug Administration. As each individual is different, the benefits, if any, of taking Koios’ products will vary from person to person. No claims or guarantees can be made as to the effects of Koios’ products on an individual’s health and wellbeing.

SOURCE Koios

View original content: http://www.newswire.ca/en/releases/archive/May2018/22/c8798.html

Paula Arab, Media and Investor Relations Strategist, paula.arab@koiosbeveragecorp.com, 403-889-9128Copyright CNW Group 2018

 

Source: Canada Newswire (May 22, 2018 – 5:00 AM EDT)

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RavenQuest Provides Corporate Update

VANCOUVER, British Columbia, May 22, 2018 (GLOBE NEWSWIRE) — RavenQuest BioMed Inc. (the “Company” or “RavenQuest”) – (CSE:RQB) (OTCQB:RVVQF) (Frankfurt:1IT) is pleased to announce the appointment of Lisa MacNeil as Operations Lead at the Company’s Bloomera facility located in Markham, Ontario.

Lisa was previously the Client Services Manager at Maricann Group Inc., a licensed producer in Ontario. At Maricann, she led client relations and sales operations, and managed various business development projects for the company while ensuring compliance with regulatory and corporate requirements.

Lisa was also the Senior Program Manager, Innomar Strategies where she provided strategic insights and support for program services, performed regular assessment of program efficiencies for continuous system improvement and created and updated Standard Operating Procedures, work orders and proposals. She has extensive experience in the health care sector by working with Shoppers Drug Mart, Lifescan Canada Ltd. and McNeil Consumer Health Care.

“We are excited to have Lisa recognize the unique opportunity within the RavenQuest team as our bench strength continues to grow,” stated CEO, George Robinson.  “Lisa will provide overall direction to teams within Bloomera in charge of Facility, Quality Assurance and Plant Health. Her knowledge of the ACMPR and operational experience in the regulated cannabis industry will be a significant contribution to Bloomera as RavenQuest prepares for sales and ramped up production.”

About RavenQuest BioMed Inc.

RavenQuest BioMed Inc. is a diversified publicly traded cannabis company with divisions focused upon cannabis production, management services & consulting and specialized research & development.

On Behalf of the Board of Directors of
RAVENQUEST BIOMED INC.

“George Robinson”
Chief Executive Officer

For further information, please contact:
Mathieu McDonald, Corporate Communications – 604-484-1230

Neither Canadian Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Stock Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management.

Cautionary Note Regarding Forward-Looking Statements

All statements in this press release, other than statements of historical fact, are “forward-looking information” with respect to the Company within the meaning of applicable securities laws, including statements with respect to the development of a licensed cannabis production facility and anticipated production from such a facility. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited to those identified and reported in the Company’s public filings under the Company’s SEDAR profile at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.

Primary Logo

 

Source: GlobeNewswire (May 22, 2018 – 6:00 AM EDT)

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Village Farms Enters Commercial-Scale Production and Outlines Ambitious 2018 Plans

Canada’s cannabis industry is projected to generate C$12 billion in gross sales by 2025, according to recent equity research by Cowen, driven by the legalization of adult-use cannabis nationwide as early as this summer. While there are many licensed producers that have been approved by Health Canada, few have the existing infrastructure and expertise needed to truly scale into the market as their operations are very young.  Many will face growing pains.

Village Farms International Inc. (TSX: VFF) (OTCQX: VFFIF), which has been publicly traded for more than ten years on the TSX, is already generating about CAD$200 million in annual revenue as a large-scale, low-cost greenhouse grower — from its decades old fresh produce business. By leaning on this experience, the vertically-integrated company is now cultivating high-quality cannabis through its joint venture with Emerald Health Therapeutics Inc. (TSX-V: EMH) (OTCQX: EMHTF) called Pure Sunfarms, which has the potential to produce up to 300,000 kilograms of dried cannabis per year if it converts all of its existing Delta BC-based 4.8 million sq. ft. of greenhouse space to cannabis production.

Cannabis to “Transform” an Experienced Growing Operation

Many Canadian licensed producers’ facilities are either in development or the early stages of production. Most are burning through significant capital each quarter ramping up operations. A problem with this approach is that it’s difficult to scale up to an industrial size agricultural operation, with issues ranging from diseases that could wipe out an entire harvest, or severely impact the quality of a harvest, to finding sufficient personnel in a tight labor market.

Village Farms is unique in the Canadian cannabis landscape in that it already has fully scaled-up greenhouse operations that have been growing premium quality produce — and selling it to North America’s leading grocers — for decades. Last quarter, the company reported revenue of $29.5 million and $1.8 million in EBITDA from this business. With well-seasoned personnel and proven practices in place, the company is in prime position to enter the cannabis industry at scale and drive value through production of a considerably more profitable crop.

Village Farms’ CEO Michael DeGiglio calls cannabis production “truly transformational”. The company projects Pure Sunfarms will multiply revenue per square foot of growing capacity 10 to 15 times by switching from produce to cannabis. EBITDA margins should leap up from mid-single digits currently to 50% or more with cannabis. The company asserts these are conservative numbers, as are its production estimates. Its long-term revenue model is based on a cannabis flower sale price of $2/gram, which is currently well below market but reflects the strong belief by the company, as well as many experts, that cannabis flower will commoditize over the coming years.

Starting Commercial-Scale Production

 

 

 

 

 

 

 

 

 

 

 

 

 

One of 17 Grow Rooms at Pure Sunfarms’ Delta 3 Greenhouse

On May 14 Pure Sunfarms received an amendment to its cultivation license that enables it to begin commercial growing at scale. Village Farms plans to incrementally increase production throughout the year. The Delta 3 greenhouse covers 1.1 million square feet in total. Pending further expected amendments to its cultivation license, the company anticipates 250,000 sf to be planted by the end of July, another 250,000 sq. ft. to be in production in September, and the entire 1.1 million sq. ft. in production by the end of the year.

“The start of commercial-scale cannabis production at the Delta 3 facility is the most significant milestone for Pure Sunfarms to date,” said Village Farms CEO Michael DeGiglio. “We are thrilled to definitively move forward with the accelerated production plan, which significantly increases Pure Sunfarms conservative production targets to as much as 60,000 kilograms or more of dried cannabis through the end of 2019.”

Pure Sunfarms expects to be cultivating at full production of 75,000 kilograms per year at the Delta 3 facility in 2020.

Selling Into the Demand

Demand for cannabis product is ramping up quickly ahead of its coming legalization for adult use in Canada.  Pure Sunfarms recently signed its first supply agreement — Emerald Health agreed to purchase 40 percent of Pure Sunfarm’s production in 2018 and 2019, or approximately 21,000 to 24,000 kilograms, based on current production targets. The company is also in discussions with numerous parties, including governments and other licensed producers, for additional supply agreements.

Village Farms’ Pure Sunfarms joint venture is in the process of applying for its sales license, recently having completed its initial cannabis harvest at the Delta 3 greenhouse. A portion of this harvest has been submitted for testing under Health Canada’s sales licensing process. This is a typical progression for licensed dealers: start with a small grow to get the initial license, amend it to cover more production space, submit product for inspection and sales license approval. Pure Sunfarms is on track.

“Pure Sunfarms’ first supply agreement provides a strong initial revenue stream, while allowing the flexibility to pursue opportunities with government purchasers, as well as the significant near-term demand we are seeing from other licensed producers,” added Mr. DeGiglio. “With the advantage of Village Farms’ decades of experience designing, building, and operating large-scale greenhouse facilities, I am more than confident in Pure Sunfarms’ ability to steadily ramp up production in the 17 grow rooms within the 1.1 million square foot Delta 3 facility.

Looking Ahead

Village Farms International Inc. (TSX: VFF) (OTCQX: VFFIF), through its Pure Sunfarms joint venture, represents a compelling investment opportunity within Canada’s burgeoning cannabis industry. With as much as 60,000 kilograms or more of dried cannabis production for sale through next year, and 75,000 kg/year at full production shortly thereafter, the joint venture Pure Sunfarms has the potential to become one of the leading players in the licensed producer space almost overnight. Should the company choose to convert the remaining 3.7 million square feet of existing greenhouses at the joint venture’s disposal, those numbers would obviously multiply. Investors may want to take note as production ramps up over the coming quarters.

For more information, visit the company’s website or download their investor presentation.

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Future Farm Provides Additional Information on its Recent Acquisition of Warrants to Purchase 500,000 Shares of Solis Tek for $0.01 per Share

May 19, 2018 / TheNewswire / Vancouver, British Columbia – Future Farm Technologies Inc. (the “Company” or “Future Farm”) (CSE: FFT) (OTCQX: FFRMF) is pleased to provide clarification of its recently announced, two-part transaction with YLK Partners NV and Solis Tek, Inc. (“Solis Tek”) (OTCQB: SLTK).

On May 3, 2018, Future Farm announced its agreement to acquire, for $500,000 USD, an ownership interest in a management company that holds a contract to manage a licensed medical marijuana cultivation and processing facility being developed in Arizona. At that time, the owners of the management company, YLK Partners NV, had a letter of intent in place to sell their ownership interests in that company to Solis Tek. Whether Future Farm would participate in that sale, or simply continue as a minority owner of YLK Partners NV, had not been determined.

After May 3, 2018, Future Farm and the owners of YLK Partners agreed that the best course of action was for Future Farm to complete its investment in YLK Partners NV and then participate in the sale of the ownership interests in YLK Partners NV to Solis Tek in order to allow Solis Tek to meet its goal of owning 100% of YLK Partners NV. As a result, on May 8, 2018, Future Farm closed on its cash investment of $500,000 in YLK Partners NV.

On May 10, 2018, Future Farm sold its interest in YLK Partners NV to Solis Tek in exchange for the 500,000 warrants for Solis Tek shares, exercisable at $0.01 per share. Solis Tek shares were recently trading at $1.04 per share, so, at that price, the effect of this transaction was to convert Future Farm’s $500,000 investment in YLK into the right to buy $520,000 worth of Solis Tek shares for $5,000. As noted in Future Farm’s earlier press release on the sale to Solis Tek, the Future Farm management team has come to know Alan Lien and his team at Solis Tek well over the past months and looks forward to working with them in the future.

In addition, Yorkville Advisors Global, LP (“Yorkville”) and its affiliates, who have provided significant financing support to Future Farm, are also providing the financing to Solis Tek for the Arizona project. For more information on that financing and on Solis Tek, please visit their website at https://solis-tek.com/.

Future Farm also announces that pursuant to its Commercial Real Estate Contract to acquire a 15-acre parcel of land in Redland, Florida (the “Property”), it has exercised its right to put the Property back to the Seller and that the Seller has reassumed the mortgages on the Property. Future Farm is focusing its efforts on the continued operation and development of its 10-acre operating greenhouse in Apopka, Florida. The greenhouse is in a designated legal grow zone with proximity to Orlando, which has a local population of almost 2.5 million and attracts over 62 million visitors annually, making it a prime location.

For further information, contact William Gildea, Director, at (888) 387-3761.

On behalf of the Board,

Future Farm Technologies Inc.

William Gildea, Chairman and CEO

About Future Farm Technologies Inc.

Future Farm is a Canadian company with holdings throughout North America including California, Massachusetts, Florida, Maine, Puerto Rico and Newfoundland. The Company’s mission is to advance sustainable agriculture through production of wholesale and retail cannabis products, including hemp. As a leader in its field, Future Farm is committed to using only the highest quality processes and products. Towards this goal, the Company acquires or partners with licensed cannabis operators, and acquires or develops leading technologies in cannabis production, breeding, genetics, and Controlled Environment Agriculture (CEA). Future Farm’s scalable, indoor CEA systems utilize minimal land, water and energy resources. The Company holds an exclusive, worldwide license to use a patented vertical farming technology that, when compared to traditional plant production methods, generates yields up to 10 times greater per square foot of land.

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. The Canadian Securities Exchange has not in any way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.

Copyright (c) 2018 TheNewswire – All rights reserved.

 

Source: TheNewsWire (May 20, 2018 – 1:36 AM EDT)

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National U.S. cannabis cultivator and dispensary operator GTI to Go Public in Canada

Bayswater Uranium Corporation [TSXV: BYU.H] (“Bayswater” or the “Company“) and VCP23, LLC (“GTI“), the owner of Green Thumb Industries, a national U.S. cannabis cultivator and dispensary operator dedicated to providing dignified access to safe and effective cannabis, are pleased to confirm further to the announcement by Bayswater on April 23, 2018, the business combination (the “Proposed Transaction“) of GTI and Bayswater that will result in a reverse takeover of Bayswater by the securityholders of GTI. The Letter Agreement was negotiated at arm’s length.

With a vertically integrated supply chain, GTI manufactures and sells a well-rounded suite of branded cannabis products and owns and operates seven manufacturing facilities and a chain of retail locations in six highly regulated, limited supply U.S. markets.  GTI recently opened its 12th retail store and expects to have 20 stores open by the end of 2018.

“I’m excited for all of us at GTI as we experience a huge milestone and transition from a private company to a publicly traded one,” says GTI Chief Executive Officer Pete Kadens. “In addition to giving back to the communities in which we operate, our priority remains bringing a disciplined and strategic approach to our expansion efforts as we move GTI to the next level. GTI is well-positioned to thrive as the cannabis industry matures and we look forward to being among the publicly traded cannabis companies on the Canadian exchanges.”

Terms of the Transaction

The arm’s length Proposed Transaction will be structured as an amalgamation, arrangement, takeover bid, share purchase or other similar form of transaction or a series of transactions that have a similar effect with Bayswateracquiring all voting securities of GTI. The final structure for the Proposed Transaction is subject to satisfactory tax, corporate and securities law advice for both Bayswater and GTI.

Completion of the Proposed Transaction is subject to a number of conditions, including completion of the GTI Financing (defined below), receipt of all necessary shareholder and regulatory approvals, the execution of related transaction documents, the delisting of the common shares of Bayswater from the TSX Venture Exchange, the consolidation of the Bayswater common shares, the disposition of various assets by Bayswater, the completion of a non-brokered private placement by Bayswater and conditional approval of the Canadian Securities Exchange for the listing of the post-consolidation Bayswater Shares (as defined herein) following completion of the Proposed Transaction.

GTI currently intends to complete a brokered private placement (the “GTI Financing“) to accredited investors of subscription receipts (the “GTI Subscription Receipts“) through a special purpose vehicle. GTI has engaged GMP Securities L.P. and Canaccord Genuity Corp., leading Canadian independent investment dealers, to act as co-bookrunners in connection with the GTI Financing. The GTI Subscription Receipts are proposed to be exchanged, upon the satisfaction of certain conditions, for common shares of the special purpose vehicle, which shares will then be exchanged for post-consolidation Bayswater Shares in connection with the Proposed Transaction on a one-for-one basis.

In connection with the Proposed Transaction, the Company will be required to, among other things: (i) change its name to a name requested by GTI and acceptable to applicable regulatory authorities; (ii) consolidate its outstanding common shares on a basis to be determined (the “Consolidation“); (iii) replace all directors and officers of the Company on closing of the Proposed Transaction with nominees of GTI; and (iv) redesignate the common shares as Subordinated Voting Shares (the “Bayswater Shares“), create a new class of Super Voting Shares that would be issued to certain principals of GTI and create a new class of Multiple Voting Shares to be issued to U.S. resident holders of GTI securities, under the Proposed Transaction.

Under the Proposed Transaction, the shareholders of the Company as of immediately prior to the completion of the Proposed Transaction would hold post-Consolidation Bayswater Shares with a value, based on the GTI Financing price, of US$3.0 million. Further details of the Proposed Transaction will be included in subsequent news releases and disclosure documents (which will include business and financial information in respect of GTI) to be filed by the Company in connection with the Proposed Transaction. It is anticipated that a special shareholders’ meeting of the Company to approve, among other matters, any necessary matters in connection with the Proposed Transaction will take place June 11, 2018 and closing of the Proposed Transaction will take place in the second quarter of 2018.

The common shares of the Company will remain halted until all necessary filings have been accepted by applicable regulatory authorities.

On Behalf of the Board of Directors of Bayswater Uranium Corporation
Victor Tanaka
President

About Green Thumb Industries (GTI):

Green Thumb Industries (GTI), a national cannabis cultivator, processor and dispensary operator, is dedicated to providing dignified access to safe and effective cannabis nationwide while giving back to the communities in which they serve. As a vertically integrated company, GTI manufactures and sells a well-rounded suite of branded cannabis products including flower, concentrates, edibles, and topicals. The company owns and operates a rapidly growing national chain of retail cannabis stores called RISE™ dispensaries. Headquartered in Chicago, Illinois, GTI has 7 manufacturing facilities and 45 retail locations across six highly regulated U.S. markets. Established in 2014, GTI employs more than 300 people and serves hundreds of thousands of patients and customers each year. GTI was named a Best Workplace 2018 by Crain’s Chicago Business.  More information is available at GTIgrows.com.

All information contained in this news release with respect to GTI was supplied by GTI for inclusion herein and the Company has relied on the accuracy of such information without independent verification.

As noted above, completion of the Proposed Transaction is subject to a number of conditions, including but not limited to the voluntary delisting of the Bayswater Shares from the TSXV and listing on the Canadian Securities Exchange. There can be no assurance that the Proposed Transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the management information circular or listing statement of the Company to be prepared in connection with the Proposed Transaction, any information released or received with respect to the Proposed Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of Bayswater should be considered highly speculative.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) has in any way passed upon the merits of the Proposed Transaction nor accepts responsibility for the adequacy or accuracy of this news release.

This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities under the GTI Financing in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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Aurora Cannabis to Acquire MedReleaf for $3.2 Billion in All-Stock Deal

Aurora Cannabis Inc. (“Aurora”) (TSX: ACB) and MedReleaf Corp. (“MedReleaf”) (TSX: LEAF) are pleased to announce that they have entered into a definitive arrangement agreement (the “Arrangement Agreement”) whereby Aurora intends to acquire all of the issued and outstanding common shares of MedReleaf in an all-share transaction valued at approximately C$3.2 billion on a fully diluted basis (the “Transaction”).

Proposed Transaction

Under the terms of the Arrangement Agreement, holders of MedReleaf common shares will receive 3.575 common shares of Aurora for each MedReleaf common share held (the “Exchange Ratio”). Upon completion of the Transaction, existing Aurora and MedReleaf shareholders would own approximately 61% and 39% of the pro forma company, respectively, on a fully diluted basis.

The Exchange Ratio implies a price of C$29.44 per MedReleaf common share and a premium of approximately 34%, based on the 20-day volume weighted average prices of Aurora and MedReleaf common shares on the Toronto Stock Exchange as of May 11, 2018.

Highlights of the Transaction

The proposed Transaction brings together two of Canada’s premier cannabis companies with fully-aligned strategic visions and production philosophies, as well as complementary assets, distribution networks, products, and capabilities. The combined company will meet what Aurora and MedReleaf management teams consider to be the critical success factors in the industry, creating a powerful platform for accelerated growth on a global scale:

  • Industry leading scalethe Transaction brings together two leading operators with a total funded capacity of over 570,000 kg per year of high-quality cannabis, through nine facilities in Canada and two in Denmark.
  • Low production costs and industry leading yields: Aurora’s automated greenhouses are expected to deliver industry-leading efficiency and low production costs, delivering sustainably robust margins. MedReleaf’s high-yield cultivation is expected to further enhance productivity and reduce costs across the combined entity’s facilities.
  • Extensive distribution channels in Canada and internationally: the two companies have established distribution agreements with Alberta’s Alcanna (formerly Liquor Stores), Quebec’s SAQ, Pharmasave and Shoppers Drug Mart in Canada, among others. Additionally, the companies have a rapidly growing international footprint through a network of in-country sales and distribution capabilities and supply and licensing agreements on five continents, including countries such as GermanyItalyBrazil and Australia. Both companies are actively engaged in initiatives to further expand their international activities.
  • Proven execution and agility across the value chain: creating a combined company, fully integrated across the entire value chain. The combined entity will be enabled to move with more agility and speed to capitalize on diversified opportunities in both the domestic and international markets, and create new, higher-margin opportunities across the value chain.
  • Enhanced diversification: a more broadly diversified portfolio of award-winning high-quality flower and derivative products will enable the companies to establish strong brands across the various market segments.
  • Brand leadership: three established medical brands, Aurora, CanniMed and MedReleaf, coupled with a portfolio of consumer and wellness brands – San Rafael ’71, Woodstock, and AltaVie – all backed by detailed consumer and marketplace insights and advanced analytical frameworks.
  • Innovation and R&D excellence: the expanded scientific team will focus on developing a robust pipeline of marketable IP, accessing higher-margin segments and new revenue streams. Aurora’s Medical Centre of Excellence, formed through the combination of the Aurora and CanniMed science and product development teams, together with MedReleaf’s ongoing studies with recognized research institutes, are expected to continue to evolve product innovation and create additional momentum for brand equity development on a global scale.
  • Enhanced capital markets profile: the combined entity’s expanded capital markets profile is expected to appeal to a broader shareholder audience, enhance trading liquidity and increase weighting in index tracking portfolios.

“This is a transformational transaction that brings together two pioneering cannabis companies, both committed to high technology, high quality and low cost production, to create a powerful platform for accelerated growth and success on a global scale,” said Terry Booth, CEO of Aurora. “Our complementary assets, strategic synergies, and strong market positioning will provide us with critical mass and an excellent product portfolio in preparation for the adult consumer use market in Canada. Equally, the combination strengthens our capacity to service the rapidly expanding global medical cannabis markets, and amplifies our early-mover advantage. We are very excited about the combination of our respective science and R&D teams, which will position us exceptionally well for the development of high value-added products, addressing as yet unmet needs in the medical markets, and driving continued innovation for the adult consumer use market.”

Neil Closner, CEO of MedReleaf, added, “MedReleaf was founded on the belief that by striving to be the Medical Grade Standard and bringing the highest level of quality and rigor to the cannabis industry, we would produce safe, consistent, and effective products that help improve the quality of life of our patients and, in time, provide an unrivaled experience for the adult use consumer. This, in turn, would drive growth and opportunity for our business. By combining with Aurora, an integrated producer with an exceptionally strong track record for execution, and deep domestic and international distribution capabilities, we will be ideally positioned to set the global standard for our industry at a pace that will be difficult to match.”

Board of Directors’ Recommendations

The Arrangement Agreement has been unanimously approved by the boards of directors of Aurora and MedReleaf, and each board recommends that their respective shareholders vote in favour of the Transaction.

The board of directors of MedReleaf and the special committee of the MedReleaf board of directors have obtained a fairness opinion from each of Canaccord Genuity Corp. and GMP Securities L.P. that, as of the date of the opinions, and subject to the assumptions, limitations, and qualifications on which such opinions are based, the consideration to be received by MedReleaf’s shareholders pursuant to the Arrangement Agreement is fair, from a financial point of view, to the MedReleaf shareholders. The board of directors of Aurora has obtained an opinion from BMO Capital Markets that, as of the date of the opinion, and subject to the assumptions, limitations, and qualifications on which such opinion is based, the Exchange Ratio provided for in the Arrangement Agreement is fair from a financial point of view to Aurora.

Transaction Summary

The Transaction will be effected by way of a plan of arrangement completed under the Business Corporations Act (Ontario). The Transaction will require approval by at least 66 2/3% of the votes cast by the shareholders of MedReleaf present at a special meeting of MedReleaf shareholders. The issuance of Aurora common shares in connection with the Transaction will require the approval of a simple majority of the shareholders of Aurora present at a special meeting. Directors and officers of Aurora and MedReleaf have entered into support agreements pursuant to which they have agreed to vote their shares in favour of the Transaction. In addition, holders of approximately 56% of MedReleaf’s issued and outstanding common shares have entered into irrevocable hard lock-ups to vote their shares in favour of the Transaction.

Upon completion of the Transaction, the board of directors of Aurora will be increased to 8 members, with Norma Beauchamp and Ronald Funk, currently independent Directors of MedReleaf, to be appointed to the board of directors of Aurora.

The Arrangement Agreement includes customary provisions including reciprocal non-solicitation provisions, subject to the right of each of MedReleaf and Aurora to accept a superior proposal in certain circumstances, with both Aurora and MedReleaf having a five business day right to match any such superior proposal for the other party. The Arrangement Agreement also provides for reciprocal termination fees of C$80 million if the Transaction is terminated in certain specified circumstances, as well as the payment of a C$15 million expense reimbursement fee if the Transaction is terminated in certain other specified circumstances.

In addition to shareholder approvals, the Transaction is subject to the receipt of certain regulatory court and stock exchange approvals and the satisfaction of other conditions customary in transactions of this nature.

Further information regarding the Transaction will be included in the information circulars that Aurora and MedReleaf will prepare, file, and mail in due course to their respective shareholders in connection with their special meetings to be held to consider the Transaction. The Arrangement Agreement will be filed on the SEDAR profiles of MedReleaf and Aurora on the SEDAR website at www.sedar.com.

None of the securities to be issued pursuant to the Arrangement Agreement have been or will be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and any securities issued in the Arrangement are anticipated to be issued in reliance upon the exemption from such registration requirements provided by Section 3(a)(10) of the U.S. Securities Act and applicable exemptions under state securities laws. This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities.

Advisors and Counsel

BMO Capital Markets is acting as the exclusive financial advisor to Aurora. McMillan LLP is acting as legal counsel to Aurora.

Canaccord Genuity is acting as the exclusive financial advisor to the special committee of the board of directors of MedReleaf, who also received an independent fairness opinion from GMP Securities, and an independent financial diligence report from Deloitte LLP. Stikeman Elliott LLP is acting as legal counsel to MedReleaf. Davies Ward Phillips & Vineberg LLP is acting as legal counsel to shareholders of MedReleaf.

Press Conference and Analyst Call

Aurora and MedReleaf will hold a press conference at 10:00 a.m. Eastern time, details of which have been disseminated via media advisory. The presentation and multi-media assets will be available at: https://investor.auroramj.com/#/investor-info#aurora-medreleaf

Conference Call and Webcast Access Information

Aurora and MedReleaf will host a webcast conference call, including a slide presentation, to discuss the transaction on Monday, May 14, 2018, at 11:30 a.m. Eastern time.

Participants may join the conference call by dialing (888) 231-8191 or (647) 427-7450.

A live webcast of the conference call, including the slide presentation, will be available at https://bit.ly/2wB9U4z. Please connect at least 15 minutes prior to the conference call to ensure adequate time for any software downloads that may be required to join the webcast. To view the webcast presentation with slides, please choose either the Real Streaming Audio or Windows Streaming Audio option.

About Aurora

Aurora’s wholly-owned subsidiary, Aurora Enterprises Inc., is a licensed producer of medical cannabis pursuant to Health Canada’s Access to Cannabis for Medical Purposes Regulations (“ACMPR”). The Company operates a 55,200 square foot, state-of-the-art production facility in Mountain View County, Alberta, known as “Aurora Mountain”, and a second 40,000 square foot high-technology production facility known as “Aurora Vie” in Pointe-Claire, Quebec on Montreal’s West Island. In January 2018, Aurora’s 800,000 square foot flagship cultivation facility, Aurora Sky, located at the EdmontonInternational Airport, was licensed. Once at full capacity, Aurora Sky is expected to produce over 100,000 kg per annum of cannabis. Aurora is completing a facility in Lachute, Quebec utilizing its wholly owned subsidiary Aurora Larssen Projects Inc.

The Company’s wholly-owned subsidiary CanniMed Therapeutics Inc. (“CanniMed”) is Canada’s most experienced licensed producer of medical cannabis, with over 20,000 kg per annum in funded capacity. CanniMed forms the heart of Aurora’s Medical Cannabis Centre of Excellence, aimed at product and market development.

Aurora also owns Berlin-based Pedanios GmbH, the leading wholesale importer, exporter, and distributor of medical cannabis in the European Union. The Company owns 51% of Aurora Nordic, which will be constructing a 1,000,000 square foot hybrid greenhouse in Odense, Denmark. The Company offers further differentiation through its acquisition of BC Northern Lights Ltd. and Urban Cultivator Inc., industry leaders, respectively, in the production and sale of proprietary systems for the safe, efficient and high-yield indoor cultivation of cannabis, and in state-of-the-art indoor gardening appliances for the cultivation of organic microgreens, vegetables and herbs in home and professional kitchens.

Aurora holds a 25% ownership interest in Alcanna Inc. (formerly Liquor Stores N.A.), (TSX:CLIQ) who are developing a cannabis retail network in Western Canada. In addition, the Company holds approximately 17.23% of the issued shares in extraction technology company Radient Technologies Inc, and has a strategic investment in Hempco Food and Fiber Inc., with options to increase ownership stake to over 50%. Aurora is also the cornerstone investor in two other licensed producers, with a 22.9% stake in Cann Group Limited, the first Australian company licensed to conduct research on and cultivate medical cannabis, and a 17.62% stake in Canadian producer The Green Organic Dutchman Ltd., with options to increase to majority ownership.

Aurora’s Common Shares trade on the TSX under the symbol “ACB”, and are a constituent of the S&P/TSX Composite Index

About MedReleaf

Voted Top Licensed Producer at the 2017 Lift Canadian Cannabis Awards, MedReleaf is an R&D-driven company dedicated to innovation, operational excellence and the production of top-quality cannabis. Sourced from around the world and carefully cultivated in one of two state of the art ICH-GMP and ISO 9001 certified facilities in Ontario, the Company delivers a variety of premium products for the global medical market and is committed to serving the therapeutic needs of its medical patients and providing a compelling product assortment for the adult-use recreational consumer. For more information on MedReleaf, its products, research and how the company is helping patients #livefree, please visit MedReleaf.com or follow @medreleaf.

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Pivot Accelerates Development of CBD Products for Domestic Pet Market

Based on RTIC Ready-To-Infuse-Cannabis Powder and Thrudermic Transdermal Cream

VANCOUVERMay 18, 2018 /CNW/ – Pivot Pharmaceuticals Inc. (CSE: PVOT / OTCQB: PVOTF / FRA: NPAT) (“Pivot” or the “Company”) is pleased to announce that it has accelerated development of several cannabidiol (“CBD”) products for the domestic pet food market. Pivot will use its patented Ready-To-Infuse-Cannabis powder to manufacture and commercialize capsules and sachets to deliver bio-available CBD to pets. The Company will also develop and commercialize a line of pet creams using its Thrudermic Transdermal Nanotechnology. Pivot’s pet product line will be marketed under the brand “Pivot Naturals For Pets” and target indications such as joint pain, inflammation, post-surgical pain and skin disorders.

Research on how cannabinoids (including CBD) affect the human body has shown that they mainly interact with our endocannabinoid system (“ECS”). This endocannabinoid system, has now been found to exist in all vertebrates, including mammals. Animals such as dogs were specifically found to share almost 70% biological homology with humans. Thus, it can be cautiously concluded that CBD interacts in a similar way in canines and felines as it does in humans. Similar to how CBD interacts with receptors in our ECS, cannabinoids bind to receptors within the dog’s body. One study in particular found that the CBD “binds to these receptors for a longer duration [in dogs], and evokes long-lasting therapeutic response without causing toxic effects.”1

In 2016, pet owners in the U.S. alone spent more than $30 billion on treatments, according to the American Pet Products Association. Once legalization becomes a reality this year, the true potential of the Canadian cannabis industry will be unleashed, thanks to a big demand boost from the estimated $10.2 billion pet medicine market in the U.S.

Dr. Joseph Borovksy, Pivot’s Executive Vice-President, Product Development stated “With Pivot’s line of pet products, the pain-relieving effects of CBD can be delivered orally, topically or as an additive sprinkled on pet food. Pivot’s technologies are versatile and allow us to develop and commercialize products for both the human and veterinary markets. Our suite of patented technologies will allow us to continually innovate and bring dozens of differentiated, value-added derivatives to market, where regulations permit, in Canada, U.S. and the EU.”

________________________________

1 

https://ministryofhemp.com/blog/cbd-for-pets/

 

About Pivot Pharmaceuticals Inc.

Pivot Pharmaceuticals Inc. is a biopharmaceutical company engaged in the development and commercialization of therapeutic pharmaceuticals and nutraceuticals using innovative drug delivery platform technologies. Pivot’s wholly-owned medical cannabis products division, Pivot Green Stream Health Solutions Inc. (“PGS” or “Pivot Green Stream”), conducts research, development and commercialization of cannabinoid-based nutraceuticals and pharmaceuticals. Pivot’s wholly-owned U.S. subsidiary, Pivot Naturals, LLC, based in Costa Mesa, California, will manufacture and supply finished powderized cannabis products such as food additives, capsules, bulk powder and stick packs to the California market. PGS has acquired worldwide rights to “RTIC” Ready-To-Infuse Cannabis powder to oil technology, BiPhasix™ Transdermal Drug Delivery platform technology (topical), Solmic Solubilisation technology (oral) and Thrudermic Transdermal Nanotechnology (transdermal) for the delivery and commercialization of cannabinoid, cannabidiol (CBD), and tetrahydrocannabinol (THC)-based products.  PGS’ initial product development candidates will include topical treatments for women’s sexual dysfunction (PGS-N005), as well as psoriasis (PGS-N007), and an oral product (PGS-N001) for cancer supportive care. For more information please visit www.PivotPharma.com

Cautionary Statement

Except for historical information contained herein, the matters set forth above may be forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ from those in the forward-looking statements. Words such as anticipate, believe, estimate, expect, intend, and similar expressions, as they relate to Pivot Pharmaceuticals Inc. or Pivot Green Stream Health Solutions Inc. or Pivot Naturals, LLC or Stoney LLC, or its management, identify forward-looking statements. Such forward-looking statements are based on the current beliefs of management, as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors, such as the failure to meet the conditions imposed by the CSE or other securities regulators, the level of business and consumer spending, the amount of sales of Pivot’s products, the competitive environment within the industry, the ability of Pivot to continue to expand its operations, the level of costs incurred in connection with Pivot’s expansion efforts, economic conditions in the industry, and the financial strength of Pivot’s customers and suppliers. Pivot does not undertake any obligation to update such forward-looking statements. Investors are also directed to consider all other risks and uncertainties.

Cision View original content:http://www.prnewswire.com/news-releases/pivot-accelerates-development-of-cbd-products-for-domestic-pet-market-300650871.html

SOURCE Pivot Pharmaceuticals Inc.

View original content: http://www.newswire.ca/en/releases/archive/May2018/18/c5586.html

Pivot Pharmaceuticals Inc., Patrick Frankham, PhD, MBA, Chief Executive Officer, Email: Info@PivotPharma.com; Virtus Advisory Group, Investor Relations, Email: Pivot@virtusadvisory.com, Phone: 416-644-5081Copyright CNW Group 2018

 

Source: Canada Newswire (May 18, 2018 – 3:05 AM EDT)

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Valens GroWorks Enters into Cannabis Supply, Expansion and Services Agreement with SpeakEasy

VANCOUVERMay 17, 2018 /CNW/ – Valens GroWorks Corp. (CSE: VGW) (the “Company” or “Valens“), a multi-licensed, vertically integrated provider of cannabis products, is pleased to announce a multi-purpose partnership agreement (the “Agreement“) with SpeakEasy Cannabis Club Ltd. (CSE: EASY) (“SpeakEasy“). SpeakEasy shall also source an interim supply for Valens of 2,500 to 5,000 kilograms per month of suitable Cannabis material.

Valens GroWorks Corp. (CNW Group/Valens GroWorks Corp.)

“This partnership with SpeakEasy dovetails neatly with our expansion objectives. As a specialist in the extraction of cannabis, Valens creates some of the best oils in the world, with our proprietary process creating a product that is clear, transparent 100% cannabis oil. Companies like SpeakEasy are recognizing Valens’ expertise in the extraction business. By helping us secure a consistent quality product for our extraction process we jointly benefit to increase our distribution platform internationally. We are extremely excited to move forward with SpeakEasy,” commented Valens CEO Tyler Robson.

Highlights of Proposed Partnership

Innovation and R&D Diversity

Valens’ Dealer’s License provides SpeakEasy with a platform to conduct research and development (“R&D“), store cannabis derivatives not covered under the Access to Cannabis for Medical Purposes Regulations (“ACMPR“), export cannabis oils and concentrates to international markets, and provides a facility to process natural health products. To accelerate and rationalize Valens’ exportation of cannabis products, SpeakEasy will introduce Valens to its international distribution network.

Expedited Sale to Domestic Markets

SpeakEasy and Valens, as part of the supply component of the Agreement, agree to secure a suitable partnership with an ACMPR LP sales licensee to accelerate domestic sales and marketing.

Export of Cannabis Oils to International Markets

Valens’ existing R&D and Dealer’s license will allow SpeakEasy to import and export key genetics, expediting joint product innovation and brand development on a global scale.

Secure Future Sales

Pending final approval under its ACMPR LP application, SpeakEasy will source an interim supply of Cannabis for Valens with 2,500 – 5,000 kilograms of suitable material per month, with a start date to be mutually determined.

Due Diligence Period

Valens has commenced a thirty (30) day due diligence period (the “Due Diligence Period“). The parties may mutually agree to an extension. Unless Valens provides notice to SpeakEasy on or before the expiry of the Due Diligence Period that the results of due diligence investigations are satisfactory and that it intends to proceed with the arrangement, the Agreement will automatically terminate without liability, unless such date and time is mutually extended by the parties in writing.

Each party will use commercially reasonable efforts to complete and execute a definitive agreement on or before the expiry of the Due Diligence Period.

“This deal with Valens is the first part of a series of arrangements that will bring both SpeakEasy and Valens to the forefront of the medical and recreational extract market both domestically and internationally, giving SpeakEasy a high volume of assured sales and providing Valens a consistent supply of high quality extract material produced at our site in Rock Cree, stated Marc Geen, SpeakEasy CEO. “When Health Canada approves outdoor cultivation, because of our location SpeakEasy will be one of the lowest cost producers in the world.”

About SpeakEasy Cannabis Club

SpeakEasy Cannabis Club Ltd. is a late stage ACMPR applicant that is leveraging three generations of farming experience and the largest land package of an LP in Canada with 290 acres of the best agricultural land in British Columbia’s Southern interior region, known as the Napa Valleyof weed country. SpeakEasy is disrupting the cultivation model by aggregating British Columbia’s best craft growers under one umbrella to produce the highest quality cannabis targeted at the highly sought after millennial recreational market.

SpeakEasy has submitted its extensive evidence package to Health Canada for its current 10,000 square foot facility and has commenced construction on its 80,000 square foot expansion facility. This 80,000 square foot facility will include growing, extraction and genetics labs.

About Valens GroWorks

Valens GroWorks Corp. is a vertically integrated provider of Canadian cannabis products, specializing in proprietary extraction techniques, with three wholly-owned subsidiaries located in Kelowna, BC. Subsidiary Valens Agritech has initiated cannabis production, processing and sales under a Health Canada Dealer’s Licence, which includes a supply agreement with Canopy Growth Corporation under their extensive CraftGrow distribution network. Subsidiary Supra THC Services is a Health Canada licensed cannabis testing lab providing sector-leading analytical services and has partnered with Thermo Fisher Scientific to develop a Centre of Excellence in Plant Based Medicine Analytics. Subsidiary Valens Farms is in the process of becoming a purpose-built facility in compliance with European Union (EU) Good Manufacturing Practices (GMP) standards, ensuring the product from this facility can be exported anywhere in world. For more information, please visit http://valensgroworks.comhttp://www.valensagritech.com and http://www.suprathc.ca.

On behalf of the Board of Directors,
VALENS GROWORKS CORP.

(signed) “Tyler Robson
Chief Executive Officer

Notice regarding Forward Looking Statements

This news release contains certain “forward-looking statements” within the meaning of such statements under applicable securities law. Forward-looking statements are frequently characterized by words such as “anticipates”, “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed”, “positioned” and other similar words, or statements that certain events or conditions “may” or “will” occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Corporation is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

The CSE or other regulatory authority has not reviewed, approved or disapproved the contents of this press release. We seek Safe Harbour.

SOURCE Valens GroWorks Corp.

View original content with multimedia: http://www.newswire.ca/en/releases/archive/May2018/17/c8058.html

Scott Young, Telephone: +1.705.888.2756Copyright CNW Group 2018

 

Source: Canada Newswire (May 17, 2018 – 4:00 PM EDT)

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Abattis Signs Agreement with Cannamedix to Support the Development and Commercialization of CBD-infused Natural Health Products

VANCOUVER, British Columbia, May 17, 2018 (GLOBE NEWSWIRE) — Abattis Bioceuticals Corp. (the “Company” or “Abattis“) (CSE:ATT) (OTC:ATTBF) is pleased to announce it has entered into a non-binding letter of intent (the “LOI“) with Cannamedix Inc. (“Cannamedix”) to provide Cannamedix with, among other things, pesticide-free cannabinoid-containing oils, research and development, analytical and regulatory services and access to Abattis’s distribution and marketing channels to support the development and commercialization of new CBD-infused nutraceuticals and natural health products. Cannamedix is a Calgary-based healthcare provider focused on the use of traditional and alternative therapies to address health conditions, from pain management to integrative cancer care. Pursuant to the LOI, Abattis and Cannamedix have agreed to negotiate in good faith the terms of a definitive agreement respecting the terms of their partnership.

“Abattis is pleased to support Cannamedix’s efforts to develop and distribute what could be one of the first lines of cannabinoid-infused nutraceuticals and natural health products in Canada,” stated Rob Abenante, President and CEO of Abattis.

“Developing safe and compliant CBD-containing products is at the core Abattis’s mandate. Our partnership with Cannamedix showcases another example of our commitment to offer R&D, analytical, regulatory and distribution services to the nascent cannabis and hemp markets,” added Mr. Abenante.

“Cannamedix’s team of professionals specialize in long term, sustainable health solutions for individuals at every age and state of health,” said Dr. Janelle Murphy, ND and Rob Richards, cofounders of Cannamedix. “Through our partnership with Abattis, and according to robust research protocols, we aim to assist our patients to explore the promising health benefits associated with cannabinoid-based therapies,” Dr. Murphy and Mr. Richards continued.

“Cannamedix’s plans to develop a new and compliant line of CBD-containing products is consistent with the fast adoption of cannabinoid-based medicine we have seen across North America, Europe and Australia,” stated Dr. David Galvez, Senior Science Advisor at Abattis.

About Abattis Bioceuticals Corp.

Abattis is a life sciences and biotechnology company which aggregates, integrates, and invests in cannabis technologies and biotechnology services for the legal cannabis industry developing in Canada. The Company has successfully developed and licensed natural health products, medicines, extractions, and ingredients for the 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.

ON BEHALF OF THE BOARD OF
ABATTIS BIOCEUTICALS CORP.,

“Rob Abenante”
Robert Abenante, President & CEO

For more information, please visit the Company’s website at: www.abattis.com or www.northernvinelabs.com

For inquiries, please contact the Company at (604) 674-8232 or at info@abattis.com.

This press release contains forward-looking statements. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “intends”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. Forward-looking statements in this press release include statements regarding: the proposed partnership and the negotiation of a definitive agreement respecting same; Abattis’s support of Cannamedix’s efforts to develop and distribute what could be the first line of cannabinoid-infused nutraceuticals and natural health products in Canada; and the partnership’s aim of assisting Cannamedix’s patients to explore the promising health benefits associated with cannabinoid-based therapies. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties, including: that a definitive agreement respecting the partnership will not be entered into or that the partnership will not be formed; that Abattis will not successfully support Cannamedix’s efforts to develop and distribute a line of cannabinoid-infused nutraceuticals and natural health products in Canada or that such line will not be the first such line in Canada; that the partnership will not succeed in assisting Cannamedix’s patients to explore the promising health benefits associated with cannabinoid-based therapies; that the Company will not be able to execute its proposed business plan in the time required or at all due to regulatory, financial or other issues; that the Company’s competitors may develop competing technologies; changes in regulatory requirements; and other factors beyond the Company’s control. Additional risk factors are included in the Company’s Management’s Discussion and Analysis, available under the Company’s profile on www.sedar.com. The forward-looking statements are made as at the date hereof and the Company disclaims any intent or obligation to publicly update any forward-looking statements, where because of new information, future events or results, or otherwise, except as required by applicable securities laws.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAS REVIEWED OR ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Primary Logo

 

Source: GlobeNewswire (May 17, 2018 – 9:28 AM EDT)

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Pivot Signs Manufacturing and Supply Agreement With California-Based Stoney LLC

RTIC Powderized Products Including Capsules and Edibles To Generate Sales In California

VANCOUVERMay 17, 2018 /CNW/ – Pivot Pharmaceuticals Inc. (CSE: PVOT / OTCQB: PVOTF / FRA: NPAT) (“Pivot” or the “Company”) is pleased to announce that its wholly-owned California subsidiary, Pivot Naturals, LLC has signed a Definitive Manufacturing and Supply Agreement (“the Agreement”) with Stoney LLC (“Stoney”), a leading brand of cannabis products in the state of California.

Under the terms of the Agreement, Stoney has agreed to purchase Pivot’s suite of Ready-To-Infuse-Cannabis (“RTIC”) powderized products, including formulated capsules for targeted effects, bulk powder for baking additives, single serve stick packs and pet food supplements. These finished products will be marketed under the established and respected “Stoney™” and “Halo™” brands. Order quantities will be determined in rolling 30-day periods commencing in 2018.

Mr. Ivan Villa, President of Stoney LLC stated “We are excited to partner with Pivot and their patented superior technology to provide our customers additional choices throughout our high-quality Stoney™ and Halo™ brands. Our customers have been demanding this level of bioavailability technology with targeted effects and we are thrilled that we will be able to deliver on their expectations. The RTIC cannabis powder is revolutionary, simple to use, doseable, flavorless and odourless. We look forward to having a long and prosperous relationship with Pivot as our brands continue to increase market share in the large California cannabis derivatives market.”

Patrick J. Rolfes, President of Pivot Naturals, LLC stated “I am thrilled to execute our first Manufacturing and Supply Agreement in California. This positions our patented RTIC powderization technology as an industry changing solution. This is a critical milestone that further validates Pivot as a leading supplier of premium, science-based cannabis products.”

“This watershed milestone Agreement is transformational for Pivot and validates our strategy of acquiring novel cannabis focused IP and generating sales by bringing the cannabis industry’s largest pipeline of products to market,” said Pivot Pharmaceuticals’ CEO, Dr. Patrick Frankham.

Recreational cannabis sales began in California on January 1, 2018 and the market is expected to haul in billions of dollars in revenue next year as dispensaries roll out across the state. A report from the cannabis industry research firm BDS Analytics estimates sales of cannabis in Californiato hit $3.7 billion by the end of 2018 alone, and predicts that number will increase to $5.1 billion in 2019 as more dispensaries come online. For comparison, beer sales in California hit $5 billion in 2017, according to industry research group IBIS World.

About Pivot Pharmaceuticals Inc.

Pivot Pharmaceuticals Inc. is a biopharmaceutical company engaged in the development and commercialization of therapeutic pharmaceuticals and nutraceuticals using innovative drug delivery platform technologies. Pivot’s wholly-owned medical cannabis products division, Pivot Green Stream Health Solutions Inc. (“PGS” or “Pivot Green Stream”), conducts research, development and commercialization of cannabinoid-based nutraceuticals and pharmaceuticals. Pivot’s wholly-owned U.S. subsidiary, Pivot Naturals, LLC, based in Costa Mesa, California, will manufacture and supply finished powderized cannabis products such as food additives, capsules, bulk powder and stick packs to the California market. PGS has acquired worldwide rights to “RTIC” Ready-To-Infuse Cannabis powder to oil technology, BiPhasix™ Transdermal Drug Delivery platform technology (topical), Solmic Solubilisation technology (oral) and Thrudermic Transdermal Nanotechnology (transdermal) for the delivery and commercialization of cannabinoid, cannabidiol (CBD), and tetrahydrocannabinol (THC)-based products.  PGS’ initial product development candidates will include topical treatments for women’s sexual dysfunction (PGS-N005), as well as psoriasis (PGS-N007), and an oral product (PGS-N001) for cancer supportive care. For more information please visit www.PivotPharma.com

Cautionary Statement

Except for historical information contained herein, the matters set forth above may be forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ from those in the forward-looking statements. Words such as anticipate, believe, estimate, expect, intend, and similar expressions, as they relate to Pivot Pharmaceuticals Inc. or Pivot Green Stream Health Solutions Inc. or Pivot Naturals, LLC or Stoney LLC, or its management, identify forward-looking statements. Such forward-looking statements are based on the current beliefs of management, as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors, such as the failure to meet the conditions imposed by the CSE or other securities regulators, the level of business and consumer spending, the amount of sales of Pivot’s products, the competitive environment within the industry, the ability of Pivot to continue to expand its operations, the level of costs incurred in connection with Pivot’s expansion efforts, economic conditions in the industry, and the financial strength of Pivot’s customers and suppliers. Pivot does not undertake any obligation to update such forward-looking statements. Investors are also directed to consider all other risks and uncertainties.

Cision View original content:http://www.prnewswire.com/news-releases/pivot-signs-manufacturing-and-supply-agreement-with-california-based-stoney-llc-300650275.html

SOURCE Pivot Pharmaceuticals Inc.

View original content: http://www.newswire.ca/en/releases/archive/May2018/17/c7341.html

Pivot Pharmaceuticals Inc., Patrick Frankham, PhD, MBA, Chief Executive Officer, Email: Info@PivotPharma.com; Virtus Advisory Group, Investor Relations, Email: Pivot@virtusadvisory.com, Phone: 416-644-5081Copyright CNW Group 2018

 

Source: Canada Newswire (May 17, 2018 – 8:45 AM EDT)

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James E. Wagner Cultivation Engages CFN Media to Build New Investor Audience

CFN Media Group (“CFN Media”), the leading agency and financial media network dedicated to the North American cannabis industry, today announced that James E. Wagner Cultivation has engaged CFN Media to conduct a 3-month investor and market visibility program to begin on May 17, 2018.

“James E. Wagner Cultivation has a rich history as a family-owned business with a tight-knit collective of patients and growers under Canada’s ACMPR,” said Frank Lane, President of CFN Media. “The company has multiple revenue streams including wholesale and retail medical cannabis, and adult use cannabis upon its legalization expected in the summer of 2018, and licensing its revolutionary aeroponic GrowthStorm™ technology to other cultivators. The company is expected to soon be publicly trading on the TSX Venture Exchange.”

“JWC is excited to be working with CFN to connect with investors and keep them up to date on important developments as we continue to expand production and advance our organization,” said James E. Wagner Cultivation CEO Nathan Woodworth. “JWC is the first and largest producer of aeroponically grown cannabis in Canada; using our proprietary and patent pending GrowthStorm™ Production System, we intend to be the largest aeroponic producer of any crop, anywhere in the world by the end of 2018. We will continue to pioneer new and innovative technologies that will have a lasting impact on the cannabis industry as we help to establish a mature cannabis marketplace in Canada and beyond!”

CFN Media will leverage its powerful content platform and extensive reach into mainstream and cannabis-focused investor audiences and media across North America to attract high-quality investors to James E. Wagner Cultivation while elevating the company’s financial brand.

Learn how to become a CFN Media client company, brand or entrepreneur: http://www.cannabisfn.com/become-featured-company/

Download the CFN Media iOS mobile app to access the world of cannabis from the palm of your hand: https://itunes.apple.com/us/app/cannabisfn/id988009247?ls=1&mt=8

Or visit our homepage and enter your mobile number under the Apple App Store logo to receive a download link text on your iPhone: http://www.cannabisfn.com

About CFN Media

CFN Media (CannabisFN), the leading agency and financial media network dedicated to the worldwide cannabis industry, helps companies operating in the space attract investors, capital, and publicity. Private and public marijuana companies in the US and Canada rely on CFN Media to succeed in the capital markets.

About James E. Wagner Cultivation

James Wagner grew up on a farm in Southern Ontario in the 1920’s and 30’s. His father was a German immigrant who worked hard to provide for his wife and sons. James was a farmer too; he spent most of his life out in his fields, growing everything imaginable in the fertile ground of his family tobacco farm near Tillsonburg.

But to us he was always Grandpa Jim, as we followed him around on the farm. When the first members of our group turned to cannabis as a medicine, it was James who offered support and advice. When our family, mostly children and grandchildren of James, formed a collective of patients and growers under the MMAR, James was there. When it became clear that we needed to take our newly developed technology and apply to become a Licensed Producer under the ACMPR, we could think of no more fitting accolade than to name our business after James.

JWC is a family business, founded on family values. Our founding members began growing their own product years ago, but our efforts quickly grew as we engaged with more patients and growers within our community. Our passion for growing was obvious in our product, and the lives of our patients. As we move forward as a Licensed Producer under the ACMPR, it is our goal to continue to help patients by providing clean, consistent medical cannabis products. It is our goal to continue to work within our community to help people access and understand Cannabis.

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Say Hello to Savvy: Choom™ Announces Formation of Board of Advisors

VANCOUVERMay 17, 2018 /PRNewswire/ – Choom™ (CSE: CHOO; OTCQB: CHOOF) is pleased to announce the appointment of several key executives to our Board of Advisors to help steer the brand into Canada’semerging rec-use marijuana market.

Choom Holdings Inc. (CNW Group/Choom Holdings Inc.)

“We are very proud to introduce these new additions to the Choom™ team. These individuals bring a wealth of knowledge and experience from a variety of industries. Our ability to attract this phenomenal talent is a testament to Choom’s vision and strategic plan as we launch our brand in Canada’s recreational use cannabis segment. As we rapidly execute our business model we have established an advisory team with extensive experience in Consumer Branding, Retail Supply Chain, Government Relations, Entrepreneurship, Operations, and Financial Services to provide guidance during our next phase of growth. We look forward to leveraging their experience and thought leadership to expedite Choom’s retail launch,” said Chris Bogart, Choom™ President & CEO.

Appointments to Choom’s Advisory Board include:

DEREK CHAN
Derek joins Choom™ after his previous role as CFO for VegaNorth America’s leading all-natural health and performance nutrition brand. During his 9 years at Vega, his financial oversight helped the company grow 15x in sales. Derek managed the Company’s private equity financing and participated in the M&A process, culminating in the successful sale of Vega to White Wave Foods for US$550 million. Mr. Chan brings over 20 years experience in senior finance roles across various industries spanning consumer packaged goods, hospitality, and technology.

Derek holds a Chartered Professional Accountant designation and a Bachelor of Science from Simon Fraser University. Prior to leaving public practice, Derek was at KPMG LLP where he worked with a portfolio of private and public companies in audit and tax advisory services.

JOHN HEANEY
John brings over 20 years of combined experience in private legal practice and government counsel. Most recently, John was the Chief of Staff for the Government of Alberta, where his role was paramount to ensuring the government was in touch with the needs and wants of Albertans.  John has been a key official in developing the Alberta government’s energy royalty review and climate-change legislation.

John also worked at several law firms in British Columbia, most notably as a lawyer at Heenan Blaikie LLP. His expertise in legal counsel, strategic planning, and government relations is critical to Choom™ as it approaches the legalization of recreational cannabis in Canada.  Mr. Heaney holds a Bachelors of Law (LLB) from the University of Victoria.

BOBBY BLACK
Bobby Black is an icon of marijuana media and is best known for his 21-year tenure as senior editor, columnist and primary brand ambassador for High Times Magazine. During his tenure at High Times, Bobby produced and hosted numerous events, including the Cannabis Cup, the Stony Awards and Doobie Awards shows, Ganja Goddess parties, and the Miss High Times Contest/Pageant. Bobby has also served as editor for both Sensi and Greenleaf magazines, as well as contributing to several other cannabis publications. He is the host of Blazin’ With Bobby Black on Cannabis Radio, the former host of Contact High on Sirius Radio, and co-founder of the 420-friendly travel agency Higher Way Travel. Most recently, he has accepted the position of Chief Operating Officer at Crockett Family Farms—one of the most respected and award-winning cannabis genetics and cultivation in North America, based in California.

As the Choom Ambassador of Good Times, Bobby brings a ‘high’ level of cannabis expertise to our leadership team and will be instrumental in educating our audience of cannabis users and the ‘cannacurious’ on the past, present, and future state of marijuana, as we navigate the new frontier of legal adult use in Canada.

SAY HELLO TO CHOOMTM
Choom™ was inspired by the Choom Gang- a group of buddies in Honolulu during the 1970’s who loved to smoke weed—or as the locals called it, choom. Evoking the spirit of Hawaii, Choom™ is synonymous with cultivating good times with good friends. We are focused on delivering an elevated customer experience through our curated retail environmentshigh-grade handcrafted Cannabis supply, and a diversity of brands forthe Canadian recreational consumer. Say hello to Choom™.

Cautionary Statement:
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Forward-looking information                 
This news release contains forward-looking information relating to the Company’s proposed activities and other statements that are not historical facts. Forward-looking information relates to management’s future outlook and anticipated events or results, and include statements or information regarding the future plans or prospects of the Company. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. These factors include risks and uncertainties associated with the results of diligence investigations, developments in the cannabis sector, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources, reliance on key personnel, regulatory risks and delays and other risks and uncertainties discussed in the management discussion and analysis section of the Company’s interim and most recent annual financial statement or other reports and filings, including the Company’s Listing Statement, made with the applicable Canadian securities regulators. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information.

Cision View original content with multimedia:http://www.prnewswire.com/news-releases/say-hello-to-savvy-choom-announces-formation-of-board-of-advisors-300649991.html

SOURCE Choom Holdings Inc.

 

Source: PR Newswire (May 17, 2018 – 5:00 AM EDT)

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Maricann Enters into a non-binding LOI to acquire License in Malta

TORONTO, May 16, 2018 (GLOBE NEWSWIRE) — Maricann Group Inc. (CSE:MARI) (FRANKFURT:75M) (OTCQB:MRRCF) (“Maricann” or the “Company”), is pleased to announce that it has entered into a non-binding LOI to acquire 100% of the issued and outstanding shares of Medican Holdings Ltd (“Medican”) of the Republic of Malta. Medican Research Group, a subsidiary of Medican, is one of six companies approved to receive a license in Malta. This license will give Maricann the ability to import, extract, manufacture finished dose products, and distribute cannabis for medical purposes within Malta and the European Union. Pursuant to the terms of the letter of intent, if the transaction is completed, Maricann will pay USD$10.1MM comprised of USD$7.6MM in common shares with a deemed price of not less than $2.35, and USD$2.5MM in cash.

Completion of the acquisition remains subject to completion of due diligence, obtaining applicable regulatory approvals and negotiation of the definitive agreements.

If completed, the acquisition of Medican is expected to advance the Company’s efforts in the import of raw materials and whole plant extracts from Canada to Malta for advanced post processing to create pure cannabis distillates, allowing for true pharmaceutical manufacturing. Commercial production of distillates (THC, CBD, CBG and conversion for CBN) in Malta, which Maricann will then manufacture into finished dose products using its proprietary VesiSorb drug delivery technology, is a key development for the Company as it advances the timeline for delivery of its full suite of products to the European market (where legal). The products (described below) have been developed by Source One in conjunction with VesiFact and made available to Maricann.

The Source One/Vesisorb Product Suite includes:

  • Water Soluble Powder
  • Topical Lotion Formulations
  • Sprays & Tinctures
  • Functional Drinks & Beverages, and;
  • SoftGel & Liquid Filled Capsules.

“As we transition our pharmaceutical business to Europe, the Government of Malta and Malta Enterprise have been engaged in understanding the requirements of our business for success and the need to move to true pharmaceutical production; combining active pharmaceutical ingredients (“API”) with excipients to create true pharmaceutical cannabis.  Malta possesses key talent who are trained in finished dose manufacturing, and has an existing base of pharmaceutical production that we will expect to engage as we move forward.  We also plan to import API from our Haxxon operation in Switzerland, providing multiple sources of product to ensure robust product supply,” stated Ben Ward, CEO.

About Maricann Group Inc.

Maricann is a vertically integrated producer and distributor of marijuana for medical purposes. The company was founded in 2013 and is based in Burlington, Ontario, Canada and Munich, Germany, with production facilities in Langton, Ontario where it operates a medicinal cannabis cultivation, extraction, formulation and distribution business under federal licence from the Government of Canada. The Company also has production operations in Dresden, Saxony, Germany and Regensdorf, Switzerland. Maricann is currently undertaking an expansion of its cultivation and support facilities in Canada in a 942,000 sq. ft. (87,515 sq. m) and will continue to pursue new opportunities in Europe.

Forward Looking Statements

This news release includes forward-looking information and statements, which may include, but are not limited to, information and statements regarding or inferring the future business, operations, financial performance, prospects, and other plans, intentions, expectations, estimates, and beliefs of the Company. Such statements include statements regarding the proposed acquisition of Medican and its plans with respect to such acquisition. Forward-looking information and statements involve and are subject to assumptions and known and unknown risks, uncertainties, and other factors which may cause actual events, results, performance, or achievements of the Company to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking information and statements herein. Although the Company believes that any forward-looking information and statements herein are reasonable, in light of the use of assumptions and the significant risks and uncertainties inherent in such information and statements, there can be no assurance that any such forward-looking information and statements will prove to be accurate, and accordingly readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance upon such forward-looking information and statements. Any forward-looking information and statements herein are made as of the date hereof, and except as required by applicable laws, the Company assumes no obligation and disclaims any intention to update or revise any forward-looking information and statements herein or to update the reasons that actual events or results could or do differ from those projected in any forward looking information and statements herein, whether as a result of new information, future events or results, or otherwise, except as required by applicable laws.

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Koios Beverage Engages CFN Media to New Build Investor Audience

SEATTLE, WA — May 17, 2018 — CFN Media Group (“CFN Media”), the leading agency and financial media network dedicated to the North American cannabis industry, today announced that Koios Beverage Corp. (CSE: KBEV) (OTC: SNOVF) has engaged CFN Media to conduct a 4-month investor and market visibility program to begin on May 17, 2018.

“Koios is an emerging functional beverage company that has built a distribution network of more than 2,000 retail locations across the United States, including reputable companies like Europa Sports.” said Frank Lane, President of CFN Media. “Earlier this month, the company launched its rebranded line-up of great-tasting, low-calorie, and nutrient-dense beverage products with four new flavors. The company also launched a new wholly-owned subsidiary, Cannavated Beverage Co., which will be among the first companies to produce cannabis-infused, brain-healthy beverages. We’re excited to be working with the company as it begins to ramp up its commercialization near-term.”

Koios brings its proven experience in the functional beverage industry to the growing cannabis sector. Cannavated drinks will have all of the nootropic health benefits of the winning Koios drink formula, and will target medical cannabis users, who have long called for more choice in the market.

“The industry has proven it is going in the direction of cannabis-infused drinks,” said Chris Miller, CEO of Koios. “It’s healthier, nobody wants to smoke anymore. The market for beverages is vast, especially when you consider the aging population and the demand for medical cannabis among seniors.”

Cannavated’s longer-term plans include partnering with licensed producers, cultivators and other regulated cannabis companies who want to sell their own line of cannabis drinks. By entering into a “white labelling” turn-key agreement, companies will be able to sell Cannavated drinks under their own brand names and labels.

“We have used hemp oil in our previous product line due it’s cognitive benefits and perfect balance of omega’s,” added Miller. “Using our existing knowledge and experience in the beverage space not only allows us to help licensed producers, but to also reach a wider audience of health-conscious consumers. We are especially excited about the possibility of combining CBDs with our proprietary nootropic blend to create a cannabis-based cognitive beverage.  We are excited to be working with CFN. They are a powerful content platform and we couldn’t ask for a better partner.”

CFN Media will leverage its powerful content platform and extensive reach into mainstream and cannabis-focused investor audiences and media across North America to attract high-quality investors to Koios Beverage Corp. while elevating the company’s financial brand.

Learn how to become a CFN Media client company, brand or entrepreneur: http://www.cannabisfn.com/become-featured-company/

Download the CFN Media iOS mobile app to access the world of cannabis from the palm of your hand: https://itunes.apple.com/us/app/cannabisfn/id988009247?ls=1&mt=8

Or visit our homepage and enter your mobile number under the Apple App Store logo to receive a download link text on your iPhone: http://www.cannabisfn.com

About CFN Media

CFN Media (CannabisFN), the leading agency and financial media network dedicated to the worldwide cannabis industry, helps companies operating in the space attract investors, capital, and publicity. Private and public marijuana companies in the US and Canada rely on CFN Media to succeed in the capital markets.

About Koios Beverage Corp.

The Company, through its wholly-owned subsidiary Koios, Inc., is an emerging functional beverage company which has an available distribution network of more than 2,000 retail locations across the United States in which to sell its products. Koios has relationships with some of the largest and most reputable distributors in the United States, including Europa Sports, Muscle Foods USA, KeHE, and Wishing-U-Well. Together these distributors represent more than 80,000 bricks and mortar locations across the United States – from sports nutrition stores to large natural grocery chains including Whole Foods and Sunflower markets. Through its partnership with Wishing-U-Well, Koios also enjoys a large presence online, including being an Amazon choice product.

Koios uses a proprietary blend of nootropics and natural organic compounds to enhance human productivity without using harmful chemicals or stimulants. Koios products can enhance focus, concentration, mental capacity, memory retention, cognitive function, alertness, brain capacity and create all day mental clarity. Its ingredients are specifically designed to target brain function by increasing blood flow, oxygen levels and neural Koios Launches 4 New and Improved Flavours of Functional Beverages connections in the brain.

Koios is one of the only drinks in the world to infuse its products with MCT oil. MCT oil is derived from coconuts and has been shown to help burn fat more effectively, creating lasting energy from a natural food source, produce ketones in the brain, allowing for greater brain function and clarity, support healthy hormone production and improve immunity. For more information, visit the company’s website at www.mentaltitan.com.

Disclaimer

The above article is sponsored content. Emerging Growth LLC, which owns CannabisFN.com and CFN Media, has been hired to create awareness. Please follow the link below to view our full disclosure outlining our compensation: http://www.cannabisfn.com/legal-disclaimer/

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Abattis Completes its Fully Vertically Integrated Downstream Cannabis Business

For those paying attention to the Canadian cannabis market, the most obvious trend ahead of this year’s expected full legalization is that of licensed producers dramatically increasing cultivation capacity to meet a projected short-term shortfall in supply. For those thinking about longer-term implications, the writing is on the wall: cannabis flower will follow, at some point in the not too distant future, every other commodity and the prices will go down as supply meets and exceeds demand. At that point, low cost and consistent production will likely win the day with some room in the market for premium cannabis lines differentiated largely by branding.

All of the focus on flower production leaves out the fastest growing and most profitable segment of the emerging market. Merchandise derived from cannabis, like oil extracts, edibles, nutraceuticals, and personal care products, are increasingly popular with consumers who are interested in the benefits of cannabis but not interested in smoking the flower. Vancouver, BC based Abattis Bioceuticals Corp. (CSE: ATT) (OTCQB: ATTBF) is intently focused on these downstream cannabis products and is executing its plan to become a full service, vertically integrated cannabis company in the space.

Licensed Producer as Enabler

Abattis recently commenced construction of a 26,000 square foot production and extraction facility for Gabriola Green Farms, its 100% wholly owned subsidiary and late-stage licensed producer applicant. The new facility will produce cannabis flower to be sure, but the main goal is to turn that flower into high-margin consumer products rather than attempt to compete with the really large cannabis producers. The development of such products is not a simple task, but Abattis has all of the complementary components in place to make the plan a reality.

One hurdle that companies have in developing cannabis-derived products is the legality of sourcing, handling, and storing the plant for research and development. In short, it’s tremendously helpful to have access to a laboratory with a dealer’s license from Health Canada. The dealer’s license is historically intended to allow researchers the ability to test narcotics for the purposes of drug development and understanding of the drug’s effects. Over the past few years, laboratory testing of medical marijuana has become one of the most common services offered by the few licensed dealers that are not laser-focused on drug research.

Abattis co-owns Northern Vine Laboratories, holder of a dealer’s license, with Emerald Health Therapeutics (TSXV: EMH) (OTCQX: EMHTF). The lab offers cannabis testing services, but Abattis is much more focused on the research and development capabilities afforded by the license. The company intends to create its own products, already demonstrated by its CBD-based sunscreen and potentially enabled by research arrangements like its recent partnership with University of British Columbia researchers. It also intends to formulate and manufacture products for other companies, and its partnerships with Kanabe, Canadian Artesian Ice, and Faculty Brewing are great examples of that type of arrangement.

Securing Gabriola Green Farms and commencing construction are huge steps toward maximizing the value of Abattis’ lab and enabling the downstream products strategy. If Abattis can secure its own supply of cannabis, and have freedom to create and modify strains for its own purposes, it puts cannabis-based product development on much more stable footing.

Beyond Licensed Producer and Licensed Dealer

Some companies might be satisfied to achieve licensed producer and licensed dealer status and go from there. Abattis has several other aspects of its business, however, that provide even greater potential for flexibility, integration, and revenue diversity. For starters, the company owns Vergence Naturals, a producer and distributor of natural health products. Vergence provides existing distribution channels for any products that Abattis may create, and also allows the company to offer distribution to product partners looking for ways to move their merchandise.

Any good cannabis-derived product requires a clean, efficient, affordable source for its active cannabinoid ingredients, and Abattis has this base covered as well. The company has exclusive distribution rights over a highly advanced column chromatography extraction technology capable of recovering 99% of all cannabinoids from the biomass material on an industrial scale. It can cleanly separate THC, THCA, and CBD, and demonstrates the ability to produce a 98%+ pure form of crystallized THCA, removing impurities like pesticides along the way. These pure extracts can be sold to other licensed dealers, licensed producers, and qualified legal entities under Canadian regulations. They also form the basis of Abattis’ downstream product development.

How does one go about partaking in some pure cannabis extract? Abattis has the answer with its recent acquisition of Green Tree Therapeutics and its line of vaporizers which are sold throughout North America. The product line is distributed through brick and mortar retail stores as well as through the Vergence Naturals online retail store, a perfect example of Abattis’ full circle approach to the cannabis industry.

Abattis is also on the cutting edge of the disruptive blockchain technology with a 49% stake in CannaNUMUS Blockchain Inc., a company that is developing a cryptocurrency for the cannabis space. The coin is designed to be a medium of exchange for the industry, between cannabis companies as well as between consumers and businesses. In addition to a potentially significant windfall from the coins ICO, Abattis is also able to leverage its position to be a leader utilizing blockchain technology for in the cannabis sector.

Abattis developments have been coming fast and furious over the last several months as recreational legalization approaches. The company’s focus on diversification of revenue streams throughout the high value chain of downstream cannabis product development could pay off handsomely, long after the coming consolidation and commodification of the cannabis flower market.

Disclaimer  

The above article is sponsored content. Emerging Growth LLC, which owns CannabisFN.com and CFN Media, has been hired to create awareness. Please follow the link below to view our full disclosure outlining our compensation: http://www.cannabisfn.com/legal-disclaimer/

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Crop Infrastructure: An Investment in North American Cannabis

The cannabis industry is projected to reach $50 billion by 2026, according to Cowen & Co., driven by the legalization of adult-use and medical cannabis across a growing number of states. Despite the significant growth rates, many cultivators and processors have struggled to raise capital to finance the variety of goods and services that they need due to federal regulations that prevent mainstream lending institutions from participating in the sector’s growth.

Crop Infrastructure Corp. (CSE: CROP) aims to solve these issues by providing land, infrastructure, and equipment to individual operators to increase accessibility, efficiency, scalability, and sustainability. At the same time, the company’s investors benefit from recurring revenue from long-term lease agreements and management fees from tenant growers, making its structure similar to a real estate investment trust (REIT) in many ways.

Turnkey Solutions for Cannabis

Crop Infrastructure specializes in providing turnkey greenhouse projects to licensed cannabis producers and processors. These projects consist of 12 greenhouse buildings that are each 3,640 sq. ft. With 1,350 plants per greenhouse, each project is capable of generating over 2,000 pounds per month or approximately $2.76 million in monthly wholesale revenue. These revenues expand by approximately 25% once factoring in the high-grade concentrates and edibles that are produced in a state-of-the-art extraction facility on site.

Management is initially focused on the Washington State market where there are 1,284 producers and processors and 436 retailers doing about $3.12 billion in annual sales, according to 502Data. After completing it’s first MEGA Greenhouse Project, the company will be well-positioned to expand this footprint across all legal jurisdictions across the United States and Canada. The tenant grower’s product is currently being sold in over 60 dispensaries in Washington State under various different brands.

In mid-March, the company announced that six of the 12 greenhouses are under construction at the first Washington project. Management intends to immediately lease these greenhouses to licensed tenant growers along with brand licensing. The company will then move on to the second phase of development for the second set of six greenhouses. Once completed the 12 greenhouses are projected to yield over 24,000 lbs per year, which is grown using $0.02/kw hour electricity, some of the lowest cost power in North America.

In early-May, the company also agreed to advance up to $2 million to Humboldt Holdings LLC for land and equipment purchased and the development of a 30,000 sq. ft. greenhouse project intended for lease and brand licensing by Humboldt to licensed cannabis tenant growers in exchange for a 30 percent interest in the company. The California-based property consists of a 10,000 sq. ft. existing cannabis greenhouse and existing building permits to expand.

Stable, Recurring Income for Investors

The cannabis industry may be rapidly growing from a top-line perspective, but it’s a difficult market for investors looking for bottom-line profitability. Many cultivators and retailers have been forced to raise equity capital and reinvest any revenue to expand, while those in the United States are still subject to significant political risk, particularly under the Trump administration. Investors have few “safe” options from both an asset and risk standpoint.

Crop Infrastructure aims to fill this void by purchasing real estate, building infrastructure, and leasing it to licensed cannabis producers and processors. In exchange, the company receives a 60 percent preferential payback via lease and management fees on greenhouse infrastructure and related equipment until its deployed capital is returned in full. Once that happens, the company applies an indefinite 30 percent land management fee that provides the company with an ongoing income stream.

Investors in the company’s stock benefit from stable, recurring income from lease and management fee agreements, as well as real estate assets that provide a solid core. The company benefits from the cannabis industry’s growth, but there’s little political risk since it’s solely involved in leasing real estate/infrastructure. By working with high-quality established tenant growers, the company aims to reduce any ancillary risk factors and ensure stable, long-term relationships.

Looking Ahead

Crop Infrastructure Corp. (CSE: CROP) represents a compelling investment opportunity in the North American cannabis industry. By taking a REIT-like approach, the company aims to capitalize on the growth of the cannabis industry without the uneven income and political risks. Investors may want to consider the company as an addition to their cannabis portfolio as it completes its initial Washington State project and sets its sights on additional North American opportunities, such as the new opportunity in California.
For more information, visit the company’s website or download their investor presentation.

Disclaimer

The above article is sponsored content. Emerging Growth LLC, which owns CannabisFN.com and CFN Media, has been hired to create awareness. Please follow the link below to view our full disclosure outlining our compensation: http://www.cannabisfn.com/legal-disclaimer/

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Pivot Provides Shareholder Update

VANCOUVERMay 15, 2018 /CNW/ – Pivot Pharmaceuticals Inc. (CSE: PVOT / OTCQB: PVOTF / FRA: NPAT) (“Pivot” or the “Company”) today announced an update on the current status of the Company.

“Pivot’s industry leading product pipeline and Intellectual Property portfolio continues to attract attention from several groups, particularly in the food and beverage, nutraceutical and pharmaceutical industries,” said Dr. Patrick Frankham, CEO of Pivot Pharmaceuticals. “We are evaluating multiple opportunities that will generate significant value for both our company and shareholders while our product team remains focused on developing and expanding our technology portfolio to ensure that we remain ahead of the curve when it comes to product formulation and development.”

Dr. Frankham continued, “As a business, we see a glaring demand for differentiated products and solutions, backed by proven technologies, that match the vast needs of medicinal and recreational consumers outside of the dried flower segment. We will capitalize on this segment of the market and we are working towards building a sustainable, long-term business with the ultimate goal of delivering value to the consumer and shareholders. Our suite of products remain on track for commercialization in 2018 and beyond. I assure our shareholders that we are working diligently and proactively to create value and restore confidence in Pivot Pharmaceuticals.”

About Pivot Pharmaceuticals Inc.

Pivot Pharmaceuticals Inc. is a biopharmaceutical company engaged in the development and commercialization of therapeutic pharmaceuticals and nutraceuticals using innovative drug delivery platform technologies. Pivot’s wholly-owned medical cannabis products division, Pivot Green Stream Health Solutions Inc. (“PGS” or “Pivot Green Stream”), conducts research, development and commercialization of cannabinoid-based nutraceuticals and pharmaceuticals. PGS has licensed or acquired “RTIC” Ready-To-Infuse Cannabis powder to oil technology, BiPhasix Transdermal Drug Delivery platform technology (topical), Solmic Solubilisation technology (oral) and Thrudermic Transdermal Nanotechnology (transdermal) for the delivery and commercialization of cannabinoid, cannabidiol (CBD), and tetrahydrocannabinol (THC)-based products. Pivot continues to expand its Intellectual Property portfolio.  PGS’ initial product development candidates will include topical treatments for women’s sexual dysfunction (PGS-N005), as well as psoriasis (PGS-N007), and an oral product (PGS-N001) for cancer supportive care. For more information please visit www.PivotPharma.com

Cautionary Statement

Except for historical information contained herein, the matters set forth above may be forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ from those in the forward-looking statements. Words such as anticipate, believe, estimate, expect, intend, and similar expressions, as they relate to Pivot Pharmaceuticals Inc. or Pivot Green Stream Health Solutions Inc., or its management, identify forward-looking statements. Such forward-looking statements are based on the current beliefs of management, as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors, such as the failure to meet the conditions imposed by the CSE or other securities regulators, the level of business and consumer spending, the amount of sales of Pivot’s products, the competitive environment within the industry, the ability of Pivot to continue to expand its operations, the level of costs incurred in connection with Pivot’s expansion efforts, economic conditions in the industry, and the financial strength of Pivot’s customers and suppliers. Pivot does not undertake any obligation to update such forward-looking statements. Investors are also directed to consider all other risks and uncertainties.

SOURCE Pivot Pharmaceuticals Inc.

View original content: http://www.newswire.ca/en/releases/archive/May2018/15/c1623.html

Pivot Pharmaceuticals Inc., Patrick Frankham, PhD, MBA, Chief Executive Officer, Email: Info@PivotPharma.com; Investor Relations, Virtus Advisory Group, Email: Pivot@virtusadvisory.com, Tel: 416-644-5081Copyright CNW Group 2018

 

Source: Canada Newswire (May 15, 2018 – 3:05 AM EDT)

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CoorsMiller executive Josh Luman joins Koios Advisory Board

VANCOUVERMay 15, 2018 /CNW/ – Koios Beverage Corp. (CSE: KBEV; OTC: SNOVF) (the “Company” or “Koios“), is pleased to announce the appointment of CoorsMiller executive Josh Luman to its Advisory Board. The Advisory Board’s purpose is to advise the Company from time to time on issues as requested by the Company, including advising and assisting with business development by and for the Company, and facilitating introductions between the Company and third parties who may be in a position to assist in furthering the goals of the Company.

Luman, the general manager of CoorsMiller affiliate Blue Moon Brewing Company in Denver, Colorado, brings a wealth of experience and knowledge in the beverage industry to Koios. In addition to being an executive with the second-largest brewer in the U.S., Luman co-founded his own brewery, the River Dog Brewing Co. in Ridgeland, South Carolina. He has vast experience building and operating a company, helped by an MBA in marketing.

“We are very excited that Josh has agreed to join our Advisory Board,” said Chris Miller, CEO of the functional beverage company. “He has built his own beverage brand and is an executive at one of the biggest beverage brands in the world.  His expertise, wisdom and industry experience are priceless for Koios.

“Josh’s presence on the team not only provides cutting-edge industry knowledge, but his connections in distribution and sales will hopefully open many doors for the Koios brand.”

Added Luman: “The functional beverage market is exploding and I am thrilled to be coming along for that ride,” he said. “This is the go-to drink-of-choice among a new generation of consumers who want low-calorie, nutrient-dense options. Koios’s products are the best on the market and are delicious.”

In connection with Mr. Luman’s appointment, the Company entered into an Advisory Board Agreement dated May 15, 2018, whereby, among other terms, the Company agreed to grant Mr. Luman 50,000 stock options at the exercise price of $0.38 per common share until expiry on May 15, 2021.

Grant of Stock Options

The Company announces that it has granted 50,000 stock options to Mr. Luman for the purchase of up to an aggregate 50,000 common shares of the Company, pursuant to its Stock Option Plan, at a price of $0.38 per common share. Each option granted to Mr. Luman is exercisable until expiry on May 15, 2021. These stock options vest as follows: 12,500 stock options vest on November 15, 2018, 12,500 stock options vest on May 15, 2019, 12,500 stock options vest on November 15, 2019, and 12,500 stock options on May 15, 2020.

About the Company’s Business

The Company, through its wholly-owned subsidiary Koios, Inc., is an emerging functional beverage company which has an available distribution network of more than 2,000 retail locations across the United States in which to sell its products. Koios has relationships with some of the largest and most reputable distributors in the United States, including Europa Sports, Muscle Foods USA, KeHE, and Wishing-U-Well.  Together these distributors represent more than 80,000 bricks and mortar locations across the United States – from sports nutrition stores to large natural grocery chains including Whole Foods and Sunflower markets.  Through its partnership with Wishing-U-Well, Koios also enjoys a large presence online, including being an Amazon choice product.

Koios uses a proprietary blend of nootropics and natural organic compounds to enhance human productivity without using harmful chemicals or stimulants.  Koios products can enhance focus, concentration, mental capacity, memory retention, cognitive function, alertness, brain capacity and create all day mental clarity.  Its ingredients are specifically designed to target brain function by increasing blood flow, oxygen levels and neural connections in the brain.

Koios is one of the only drinks in the world to infuse its products with MCT oil.  MCT oil is derived from coconuts and has been shown to help the body burn fat more effectively, create lasting energy from a natural food source, produce ketones in the brain, allowing for greater brain function and clarity, support healthy hormone production and improve immunity. For more information, please visit our website: https://www.mentaltitan.com/

On behalf of the Board of Directors of the Company.

KOIOS BEVERAGE CORP.

“Chris Miller”
Chris Miller, CEO and Director

Forward-Looking Statements

This news release contains forward-looking statements. All statements, other than statements of historical fact that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future are forward-looking statements. Forward-looking statements in this news release include statements with respect to the statement that the Advisory Board member’s expertise will benefit the Company; and the statement with respect to the growth and size of the functional beverage market. The forward-looking statements reflect management’s current expectations based on information currently available and are subject to a number of risks and uncertainties that may cause outcomes to differ materially from those discussed in the forward-looking statements including: (i) adverse market conditions; (ii) changes to the growth and size of the functional beverage market; and (iii) consumer acceptance and adoption of functional beverages as compared to other beverages. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, levels of activity or performance. Further, any forward-looking statement speaks only as of the date on which such statement is made and, except as required by applicable law, the Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events. New factors emerge from time to time, and it is not possible for management to predict all of such factors and to assess in advance the impact of such factors on the Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statement. Readers should consult all of the information set forth herein and should also refer to the risk factor disclosure outlined in the Company’s documents filed from time-to-time with the British Columbia Securities Commission on SEDAR at www.sedar.com.

Koios has not conducted any scientific studies on the effects of Koios’ products which have been evaluated by Health Canada or the U.S. Food and Drug Administration. As each individual is different, the benefits, if any, of taking Koios’ products will vary from person to person. No claims or guarantees can be made as to the effects of Koios’ products on an individual’s health and wellbeing.

For further information, please contact:

Paula Arab

Media and Investor Relations Strategist

paula.arab@koiosbeveragecorp.com

403-889-9128

SOURCE Koios

View original content: http://www.newswire.ca/en/releases/archive/May2018/15/c5538.html

Paula Arab, Media and Investor Relations Strategist, paula.arab@koiosbeveragecorp.com, 403-889-9128Copyright CNW Group 2018

 

Source: Canada Newswire (May 15, 2018 – 8:00 AM EDT)

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Emerald Health Therapeutics Announces $16.8 Million Prospectus Sale; Concurrent Secondary Sale

VICTORIA, British Columbia, May 15, 2018 (GLOBE NEWSWIRE) — Emerald Health Therapeutics, Inc. (TSXV:EMH) (“Emerald” or the “Company”) has entered into a binding term sheet with a single Canadian institutional accredited investor (the “Investor”) under which the Investor has agreed, subject to certain customary conditions, to purchase 4,000,000 units of the Company (the “Units”) at a price of $4.20 per Unit for total gross proceeds of $16,800,000 (the “Offering”). The securities forming the Units will be qualified under a shelf prospectus supplement to be filed by Emerald prior to closing.

Each Unit will consist of one common share of the Company and one common share purchase warrant (a “Warrant”). Each Warrant will entitle the Investor to acquire one common share of the Company (a “Warrant Share”) at a price of $5.20 per Warrant Share for a period of eighteen months following the closing of the Offering. If the closing sale price of the Company’s common shares (the “Common Shares”) on the TSX Venture Exchange or other principal exchange upon which the Company’s shares are traded is greater than $6.50 per Common Share for a period of twenty consecutive trading days at any time after the closing of the Offering, the Company may accelerate the expiry date of the Warrants by giving notice to the Investor and in such case the Warrants will expire on the 30th day after the date on which the notice is given by the Company.

The Investor has also agreed to purchase from Emerald Health Sciences Inc. (“Sciences”), a control person of the Company, 2,000,000 Common Shares held by Sciences at a price of $4.20 per share (the “Secondary Sale”). The Secondary Sale will close concurrently with the closing of the Offering.

The Company intends to use the net proceeds of the Offering to fund the completion of its recently acquired Agro-Biotech facility in Quebec, working capital, and general corporate purposes.

The Units and Common Shares to be sold under the Secondary Sale will be offered by way of a shelf prospectus supplement to be filed in all of the provinces of Canada, except Quebec, pursuant to National Instrument 44-101 – Short Form Prospectus Distributions.

The closing date of the Offering and Secondary Sale is expected to be on or about May 22, 2018, and is subject to certain conditions including, but not limited to, the Investor being satisfied with the results of its due diligence, no material adverse change in the affairs of the Company, and the receipt of all necessary approvals, including the approval of the TSX Venture Exchange and the applicable securities regulatory authorities.

This press release will not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the securities in any state in which such offer, solicitation, or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws.

About Emerald Health Therapeutics, Inc.

Emerald Health Therapeutics (TSXV:EMH) is a Licensed Producer under Canada’s Access to Cannabis for Medical Purposes Regulations and produces and sells dried cannabis and cannabis oil for medical purposes. Emerald owns 50% of a joint venture with Village Farms International, Inc. that is converting an existing 1.1 million square foot greenhouse in Delta, BC to grow cannabis. It owns a 75,000 square foot indoor facility in St. Eustache, QC and is adding a 500,000 square foot greenhouse in Metro Vancouver to serve the anticipated legal Canadian adult-use cannabis market starting in 2018. Emerald’s team is highly experienced in life sciences, product development and large-scale agribusiness. Emerald Health Therapeutics is part of the Emerald Health group, which includes multiple companies focused on developing cannabis and cannabinoid products with potential wellness and medical benefits.

Please visit www.emeraldhealth.ca for more information or contact:

Rob Hill, Chief Financial Officer
(800) 757 3536 Ext. #5

Ray Lagace, Investor Relations Manager
(800) 757 3536 Ext. #5
invest@emerald.care

Cautionary Statements Regarding Forward Looking Information

Certain statements in this press release constitute forward-looking statements, within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives,assumptions, expectations or beliefs of future performance, are “forward-looking statements”.

We caution you that such “forward-looking statements” involve known and unknown risks and uncertainties that could cause actual and future events to differ materially from those anticipated in such statements. Forward-looking statements include, but are not limited to, the filing and effectiveness of the prospectus supplement; the use of proceeds from the Offering; the anticipated closing date of the Offering and the SecondarySale; the development, expansion and conversion of greenhouse facilities; and the starting of adult-use cannabis market in 2018.

Emerald Health Therapeutics Inc. does not intend, and does not assume any obligation, to update these forward-looking statements except asrequired by law. These forward-looking statements involve risks and uncertainties relating to, among other things, failure to meet the conditions of closing of the Offering; uncertainty with respect to the completion of the Offering; filing of the shelf prospectus supplement; the ability to obtainapplicable regulatory approval for the Offering and the Secondary Sale; the ability of the Company to negotiate and complete future fundingtransactions; variations in market conditions; and other risk factors described in the Prospectus and the Company’s other filings with the applicableCanadian securities regulators, which may be viewed at www.sedar.com. Actual results may differ materially from those expressed or implied by such forward-looking statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX VentureExchange) accepts responsibility for the adequacy or accuracy of this release.

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Source: GlobeNewswire (May 15, 2018 – 8:00 AM EDT)

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Abattis Adds Significant Strength to its Board and Leadership Team

VANCOUVER, British Columbia, May 15, 2018 (GLOBE NEWSWIRE) — Abattis Bioceuticals Corp.(the “Company” or “Abattis“) (CSE:ATT) (OTC:ATTBF) is pleased to announce the appointments of Kent McParland, Brazos Minshew, Shawn Balaghi and Jim Carter to the Company’s leadership team and Wolfgang Richter to its Board of Directors.

Chief Financial Officer & Chief Operating Officer

Kent McParland has been appointed as Chief Financial Officer and Chief Operating Officer, replacing David Whitney as Chief Financial Officer, and Rene David as Chief Operating Officer. Mr. McParland, a chartered professional accountant, joins Abattis following fifteen years in public practice with Grant Thornton, MNP and Deloitte. He has experience working in multiple industries and expertise in project management and change management.

Medical Advisory Committee & Corporate Advisory Board

Dr. Brazos Minshew has been appointed as Head of the Company’s Medical Advisory Board and as President of the Corporate Advisory Board of Vergence Naturals Ltd., a wholly-owned subsidiary of Abattis. In such roles, Mr. Minshew is expected to drive the sales and development of new formulations and to launch new brands and product offerings for the Company.  Dr. Minshew is the author of four books with over one million copies sold, has more than 200 published articles, and is a proven researcher in the nutraceuticals space. Over the course of his career, the products he has developed have generated over US$4 billion in sales.

Mergers and Acquisitions Advisory

Jim Carter has been appointed as the Head of Mergers and Acquisitions Advisory and will drive the Company’s upcoming expansion activities and mergers and acquisitions strategy.  Mr. Carter will also act as an advisor to the Board of Directors on financial matters.  On the corporate side, Jim has deep experience with mergers and acquisitions, corporate and debt restructuring and risk management, having previously served as Vice President of an NYSE-listed merchant banking company for nearly twenty years.

Corporate Development

Shawn Balaghi has been appointed as the Company’s Head of Corporate Development. Mr. Balaghi has over 20 years’ experience working with public markets and draws on a strong understanding of the cannabis space, having worked with numerous licensed producers under the Access to Cannabis for Medical Purposes Regulations (ACMPR).  Mr. Balaghi brings a wealth of experience and leadership to the corporate communications, capital markets and marketing teams.

“As we enter this next stage in our growth and development as a company, we are excited to be able to attract such talented and sought after individuals such as Kent, Brazos, Jim and Shawn,” stated Robert Abenante, President and CEO of Abattis.  “The Company would also like to thank David Whitney and Rene David for their contributions as CFO and COO, respectively, and wish them the best in their future endeavors.  Mr. David has served in several executive positions with Abattis and continues to serve on the Company’s Board of Directors,” added Mr. Abenante.

Board of Directors

Wolfgang Richter has been appointed as a director of the Company, bringing the number of directors of the Company to six. Mr. Richter draws on relevant experience with the cannabis industry, having previously served as a director of Northern Vine Canada Inc., a former subsidiary of the Company.

“The Company welcomes Mr. Richter to the Board of Directors,” commented Robert Abenante.  “After serving with Wolfgang on the Board of Northern Vine, I am confident that his network and industry experience will add tremendous value to Abattis,” added Mr. Abenante.

About Abattis Bioceuticals Corp.

Abattis is a life sciences and biotechnology company which aggregates, integrates, and invests in cannabis technologies and biotechnology services for the legal cannabis industry developing in Canada. The Company has successfully developed and licensed natural health products, medicines, extractions, and ingredients for the biologics, nutraceutical, bioceutical, and cosmetic markets. The Company is also seeking to acquire exclusive intellectual property rights to agricultural technologies to be employed in extraction and processing of botanical ingredients and compounds. The Company follows strict standard operating protocols and adheres to the applicable laws of Canada and foreign jurisdictions. For more information, visit the Company’s website at: www.abattis.com.

ON BEHALF OF THE BOARD OF
ABATTIS BIOCEUTICALS CORP.,

“Rob Abenante”

Robert Abenante, President & CEO

For more information, please visit the Company’s website at: www.abattis.com or www.northernvinelabs.com

For inquiries, please contact the Company at (604) 674-8232 or at news@abattis.com.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAS REVIEWED OR ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Certain information set out in this news release constitutes forward-looking information, which may include information relating to Messrs. McParland’s, Richter’s, Balaghi’s, Minshew’s and Carter’s respective appointments and expected roles with, and contributions to, the Company. Forward-looking statements (often, but not always, identified by the use of words such as “expect”, “may”, “could”, “anticipate”, or “will”, and similar expressions) may describe expectations, opinions or guidance that are not statements of fact and which may be based upon information provided by third parties. Forward-looking statements are based upon the opinions, expectations and estimates of management of the Company as at the date the statements are made and are subject to a variety of known and unknown risks and uncertainties and other factors that could cause actual events or outcomes to differ materially from those anticipated or implied by such forward-looking statements. Those factors include, but are not limited to risks, uncertainties and other factors that are beyond the control of the Company, risks associated with the industry in general, rules and regulations relating to the cannabis industry, operational risks associated with development and production operations, delays or changes in plans and unanticipated costs and expenses, among others. In light of the risks and uncertainties associated with forward-looking statements, readers are cautioned not to place undue reliance upon forward-looking information. In particular, there is no assurance that any of Messrs. McParland, Richter, Balaghi, Minshew or Carter will contribute to the Company as expected. Although the Company believes that the expectations reflected in the forward-looking statements set out in this news release are reasonable, it can give no assurance that such expectations will prove to have been correct. The forward-looking statements of the Company contained in this news release are expressly qualified, in their entirety, by this cautionary statement. Except as required by law, we do not undertake to update any forward-looking statement contained in this news release.

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Source: GlobeNewswire (May 15, 2018 – 8:33 AM EDT)

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Choom™ Secures an Additional 8 Retail Opportunities in Alberta

Choom™ Secures an Additional 8 Retail Opportunities in Alberta

VANCOUVERMay 15, 2018 /PRNewswire/ – Choom™ (CSE: CHOO; OTCQB: CHOOF) (the “Company” or “Choom™”), an emerging fully-integrated cannabis company, is aggressively pursuing retail opportunities in the Canadian marketplace. Choom™ has secured the rights to an additional 8 retail locations in Alberta, increasing the total to 17 applications in the approval process with the Alberta Gaming and Liquor Commission (“AGLC”). These retail store locations are subject to licensing by the AGLC and the receipt of all other necessary governmental approvals. This follows the Company’s news release regarding the build-out of its cannabis retail store network, disseminated April 17, 2018.

Choom Holdings Inc. (CNW Group/Choom Holdings Inc.)

A strong retail footprint will be instrumental in determining the brands that thrive in this new economy and Choom™ will be poised to capitalize on the coming wave of cannabis distribution with our retail strategy.

“Our goal is to secure significant market share where private cannabis retail stores are permitted. Increasing our footprint in Western Canadanaturally strengthens our reach to consumers,” states Chris Bogart, president and CEO of Choom™.

“With the coming recreational cannabis market, ensuring an elevated customer experience and positive initial impressions will be crucial. Our retail environments will be curated for an outstanding experience. We will continue to seek expansion opportunities to allow as many Canadians as possible to participate in the Choom™ experience of ‘good times with good friends’.”

SAY HELLO TO CHOOMTM

Choom™ was created for and inspired by the Choom Gang; a group of buddies in Honolulu during the 1970’s who loved to smoke weed—or as the locals called it, “Choom“. Now, after four decades, Choom™ is bringing the spirit of Hawaii to Canada. Choom™ is focused on delivering an elevated customer experience through our curated retail environments, high-grade handcrafted Cannabis supply, and a diversity of brands for the Canadian recreational consumer.

For additional information on Choom™ please visit: www.choom.ca

Cautionary Statement:

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Forward-looking information
This news release contains forward-looking information relating to the Company’s proposed activities and other statements that are not historical facts. Forward-looking information relates to management’s future outlook and anticipated events or results, and include statements or information regarding the future plans or prospects of the Company. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. These factors include risks and uncertainties associated with the results of diligence investigations, developments in the cannabis sector, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources, reliance on key personnel, regulatory risks and delays and other risks and uncertainties discussed in the management discussion and analysis section of the Company’s interim and most recent annual financial statement or other reports and filings, including the Company’s Listing Statement, made with the applicable Canadian securities regulators. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information.

Cision View original content with multimedia:http://www.prnewswire.com/news-releases/choom-secures-an-additional-8-retail-opportunities-in-alberta-300648223.html

SOURCE Choom Holdings Inc.

 

Source: PR Newswire (May 15, 2018 – 4:00 AM EDT)

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The Green Organic Dutchman Receives Health Canada License to Produce Cannabis Oils

TORONTO, May 15, 2018 (GLOBE NEWSWIRE) — The Green Organic Dutchman Holdings Ltd. (the “Company” or “TGOD”) (TSX:TGOD) (US:TGODF) is pleased to announce  that, effective April 20, 2018, the Company has been granted a supplemental license from Health Canada for the production of cannabis oils.

The Company produces its cannabis oil using a supercritical CO2 extraction system, capable of processing up to 6,600 kg / year into ultra-pure, environmentally friendly, organic cannabis oils. The process is free of toxic solvents and does not require any winterization protocol. This innovative process produces the highest-quality cannabis oils in the world.

Giving concentrate makers control over the process provides access to cannabinoids within the plant in addition to tetrahydrocannabinol (THC) and cannabidiol (CBD).  The result of this specialized extraction process is a precisely concentrated, aromatic golden-brown oil that is as close to the original plant composition as can be achieved.

“The extraction process allows TGOD to transform our premium quality organic raw material into a variety of premium higher-margin cannabis products. This is an important milestone in our path and commitment to providing users with alternative, more convenient and dose-controlled consumption methods.

“This license is instrumental in driving our research & development forward through product innovation, discovery of novel traits, and expanding our intellectual property portfolio. With over 125 years of consumer packaged goods experience, TGOD is well-positioned to be the world leader in the organic cannabis industry, providing a range of safe, consistent, high quality organic products,” said Robert Anderson, TGOD’s Co-Chairman and CEO.

“Our oils will be as close to the original plant as possible, including terpene profiles to realize entourage effects. Our process is easily customizable to create full-spectrum strain-specific oils, as well as oils of varying cannabinoid and terpene concentrations,” said Anderson.

TGOD’s laboratory was built to GMP (Good Manufacturing Practices) specifications, and work is currently underway for European Union GMP certification.  Patrick Baker, Extraction Technician, will be heading up the Company’s extraction facility. Mr. Baker has a B.Sc. Biology and Chemistry (Honours) with an emphasis on radiochemistry, and synthetic organic chemistry.

On Behalf of the Board of Directors,

The Green Organic Dutchman Holdings Ltd.
Robert Anderson
Chief Executive Officer and Co-Chairman

ABOUT THE GREEN ORGANIC DUTCHMAN HOLDINGS LTD.

The Green Organic Dutchman Holdings Ltd. is a research & development company licensed under the Access to Cannabis for Medical Purposes Regulations (“ACMPR”) to cultivate medical cannabis. The Company carries out its principal activities producing cannabis from its facilities in Ancaster, Ont., pursuant to the provisions of the ACMPR and the Controlled Drugs and Substances Act (Canada) and its regulations.

The Company grows high quality, organic cannabis with sustainable, all-natural principles. TGOD’s products are laboratory tested to ensure patients have access to a standardized, safe and consistent product. TGOD has a funded capacity of 116,000 kg and is building 970,000 sq. ft. of cultivation facilities in Ontario and Quebec.

The Company has developed a strategic partnership with Aurora Cannabis Inc. (TSX:ACB) whereby Aurora invested approximately $78.1 million investment for an approximate 17.5% stake in TGOD. In addition, the Company has raised approximately $290 million dollars and has over 5,000 shareholders.

TGOD’s Common Shares and warrants issued under the indenture dated November 1, 2017 trade on the TSX under the symbol “TGOD” and “TGOD.WT”, respectively.

CONTACT INFORMATION

Investor Relations
Email: invest@tgod.ca
Phone: 1 (416) 900-7621

www.tgod.ca

No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities of TGOD have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws. Accordingly, the securities of TGOD may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities of TGOD in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Forward-Looking Information Cautionary Statement

This news release includes statements containing certain “forward-looking information” within the meaning of applicable securities law (“forward-looking statements”). Forward looking statements in this release includes, but is not limited to, statements about the Company’s facilities, production and extraction methods, the Company’s participation in certain product offerings, the future performance of the Company generally and anticipated changes to cannabis legislation in Canada. Forward-looking statements are frequently characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of Toronto Stock Exchange) accept responsibility for the adequacy or accuracy of this release.

Primary Logo

 

Source: GlobeNewswire (May 15, 2018 – 8:00 AM EDT)

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Canntab Therapeutics Engages CFN Media to Build New Investor Audience

CFN Media Group (“CFN Media”), the leading agency and financial media network dedicated to the North American cannabis industry, today announced that Canntab Therapeutics Ltd. (CSE: PILL) has engaged CFN Media to conduct a three month investor and market visibility program to begin on May 15, 2018.

“Canntab Therapeutics is focused on cannabis oral dosage formulations designed to standardize medical cannabis extracts from selective strains”, said Frank Lane, President of CFN Media. “In April, the company announced that it filed three additional U.S. patents and one international patent application, bringing its portfolio up to 11 patent applications around the world. We’re excited to be working with the company as they work to put the ‘medical’ back into ‘medical cannabis’ through specialized formulations.”

“We are excited to be working with CFN Media to create awareness for our company and products. CFN’s ability to help many companies attract a wider audience is a huge advantage to Canntab,” said Canntab CEO Jeff Renwick.

CFN Media will leverage its powerful content platform and extensive reach into mainstream and cannabis-focused investor audiences and media across North America to attract high-quality investors to Canntab Therapeutics Ltd. while elevating the company’s financial brand.

Learn how to become a CFN Media client company, brand or entrepreneur: http://www.cannabisfn.com/become-featured-company/

Download the CFN Media iOS mobile app to access the world of cannabis from the palm of your hand: https://itunes.apple.com/us/app/cannabisfn/id988009247?ls=1&mt=8

Or visit our homepage and enter your mobile number under the Apple App Store logo to receive a download link text on your iPhone: http://www.cannabisfn.com

About CFN Media

CFN Media (CannabisFN), the leading agency and financial media network dedicated to the worldwide cannabis industry, helps companies operating in the space attract investors, capital, and publicity. Private and public marijuana companies in the US and Canada rely on CFN Media to succeed in the capital markets.

About Canntab Therapeutics Ltd.

Canntab Therapeutics Limited is a Canadian cannabis oral dosage formulation company based in Markham Ontario, engaged in the research and development of advanced pharmaceutical grade formulations of cannabinoids. Canntab has developed in-house technology to deliver standardized medical cannabis extract from selective strains in a variety of extended/sustained release pharmaceutical dosages for therapeutic use. Simply put, Canntab’s mission is to put the “Medical” into medicinal cannabis.

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Future Farm Begins Phase Two of CBD Hemp Cultivation Operations in Maine

Vancouver, British Columbia / TheNewswire / May 15, 2018 – Future Farm Technologies Inc. (the “Company” or “Future Farm”) (CSE: FFT) (OTCQX: FFRMF) is pleased to announce that it is moving into Phase II of its ongoing efforts to be the largest hemp cultivator and CBD producer in New England.

On May 10th the Company completed Phase I of the buildout of its 12,800-sq. ft. hemp processing and production facility in Belfast, Maine (the “Facility”). During Phase I, the Company upgraded the Facility’s electrical system, installed state of the art lighting and propagation tables and hired a seasoned team to assist with planting. Finishing Phase I allows the Company to plant over 200,000 seeds for the propagation of feminized CBD hemp seedlings. These seedlings will produce feminized CBD seeds for sale as well as CBD isolate biomass.

Above and Below: Future Farm Maine’s hemp processing and production facility in Belfast, Maine.


In response to a successful petition by Future Farm and other Maine licensees, Maine’s State Horticulturist has issued an Extension of Indoor Growing Allowance for the 2018 Season. A memo to Industrial Hemp Grower Applicants and Licensees stated that, “Considering the slow start to the growing season this year and the cold soil temperatures that persist, we are extending the allowance for starting your industrial hemp plants indoors. We will allow seedlings to be grown indoors until June 15, 2018.” The extension will allow hemp seedlings the extra growing time needed to become hardy enough to withstand Maine’s unpredictable weather. As a result of the extension, Future Farm plans to transfer its seedlings from the propagation facility to its Amity and Hersey fields on or about June 10, 2018.

“Now that the ground has thawed, field prep has begun at both the Hersey and Amity farms,” explains Zak Lapan, Future Farm Maine’s General Manager. “Wells are being drilled and the fields are scheduled to be plowed, mulch papered and irrigated. Preliminary soil analysis on Future Farm’s organically certified 100-acres in Hersey shows very fertile fields.”

The fields are being prepared for transplant in tandem with the build-out of the state of the art propagation facility, leveraging the most modern irrigation and fertilization systems the industry has to offer. The next phase is the build-out of the processing and extraction lab, which will be capable of processing over 500 pounds of biomass an hour. In 2018, the Company is projected to produce 150,000-200,000 pounds of organic, high CBD biomass and to harvest over 75,000,000 organic, feminized, high CBD hemp seeds.

Derek Ross of Cannatech and Future Farm’s strategic partner in Maine states, “The goal for next year is to be a resource for local farmers to obtain feminized CBD hemp seeds, making a significant impact to the agricultural community in Maine.”

The industrial hemp opportunity is significant. According to Forbes, cannabis research firm Brightfield Group estimates that the U.S. market for hemp-derived CBD had $291 million in sales in 2017 and will grow to annual sales of $1.65 billion in 2021.

For further information, contact William Gildea, Director, at (888) 387-3761.

On behalf of the Board,

Future Farm Technologies Inc.

William Gildea, Chairman & CEO

About Future Farm Technologies Inc.

Future Farm is a Canadian company with holdings throughout North America including California, Massachusetts, Florida, Maine, Puerto Rico and Newfoundland. The Company’s mission is to advance sustainable agriculture through production of wholesale and retail cannabis products, including hemp. As a leader in its field, Future Farm is committed to using only the highest quality processes and products. Towards this goal, the Company acquires or partners with licensed-cannabis operators, and acquires or develops leading technologies in cannabis production, breeding, genetics, and Controlled Environment Agriculture (CEA). Future Farm’s scalable, indoor CEA systems utilize minimal land, water and energy resources. The Company holds an exclusive, worldwide license to use a patented vertical farming technology that, when compared to traditional plant production methods, generates yields up to 10 times greater per square foot of land.

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. The Canadian Securities Exchange has not in any way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.

Copyright (c) 2018 TheNewswire – All rights reserved.

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Friday Night Inc. Provides Update on New Las Vegas Cannabis Cultivation Facility and Announces Purchase Agreement of New Production Building

VANCOUVERMay 15, 2018 /CNW/ – Friday Night Inc. (the Company or Friday Night) (CSE: TGIF) (FWB: 1QF) (OTCQB: TGIFF), a leading cannabis, hemp and CBD producer in Nevada, and its subsidiary, Alternative Medicine Association (“AMA”), are pleased to announce that construction is underway on the new cultivation facility.  The Company also announces that it has signed a purchase agreement on a new building that will be used for cannabis production, processing and extraction.

Friday Night Inc. (CNW Group/Friday Night Inc.)

Construction of New Cannabis Cultivation Facility is Underway

The Company is pleased to report that work has begun on AMA’s new cannabis cultivation facility in Las Vegas, Nevada.  The Company was granted approval from the Clark County Zoning Commission in Nevada, for its building redesign from a one story, 35,000 sq. ft. facility to a two story, 67,750 sq. ft. facility for cannabis cultivation on 1.4 acres in an M-1 (Light Manufacturing) (APZ-1) (AE-75) Zone.  The new facility, when completed, increases AMA’s total footprint from the current 12,000 sq. ft. to a total of 79,000 sq. ft. and allows the Company to significantly increase flower cultivation to support AMA’s own line of cannabis-based products and white-label extraction for multiple well-known cannabis brands in the State of Nevada.

Purchase Agreement signed for a New Cannabis Production, Processing and Extraction Facility

Friday Night is also pleased to announce they have entered into a purchase agreement for an existing 12,160 sq. ft. building adjacent to the future cultivation facility, which will be utilized for cannabis production, processing and extraction purposes.  AMA’s current production space is less than 2,000 sq. ft. yet contributes more than half of AMA’s overall revenue.  Management is confident that a larger production facility which increases the current footprint more than 6-fold will play a key role in the Company’s aggressive growth strategy in Nevada.  The purchase price is USD $2,250,000 and the subjects are anticipated to be removed within 30 days.

Due mainly to the upcoming increase in cultivation and production space, Friday Night also announces the decision to continue the management contract of Harvest Foundation.  The Company evaluated the potential advantages of expanding the current contract to encompass an acquisition and has since decided to postpone acquisition talks.

“It is every company’s desire to grow and become a significant player amidst all their competitors.  AMA has already claimed a significant role in the Nevada market and with the new construction and the expanded work space for production, AMA’s world class team can expand their talents, scale up operations and continue to provide the Nevada marketplace with the cannabis brands they demand.”

– Drew Milburn, Alternative Medicine Association

About Friday Night Inc. 

Friday Night Inc. is a Canadian public company, which owns and controls cannabis and hemp-based assets in Las Vegas Nevada as well as an international cannabis and mining security logistics consulting firm. The Company owns 91% of Alternative Medicine Association, LC (AMA), a licensed medical and adult-use cannabis cultivation and production facility that produces its own line of unique cannabis-based products and manufactures other third-party brands.  Infused MFG, also a 91% owned subsidiary, produces hemp-based, CBD products, thoughtfully crafted of high quality organic botanical ingredients.  The Company’s wholly-owned subsidiary, Spire Secure Logistics is a leading provider of customized security programs, compliance, information technology, buildout design, and due diligence services for the legal cannabis, mining and investment sectors. Friday Night Inc. is focused on strengthening and expanding its current operations.

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Notice regarding Forward Looking Statements: This news release contains forward-looking statements. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct.  Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this news release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company’s disclosure documents, which can be found under the Company’s profile on www.sedar.com.   Friday Night undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

Cision View original content with multimedia:http://www.prnewswire.com/news-releases/friday-night-inc-provides-update-on-new-las-vegas-cannabis-cultivation-facility-and-announces-purchase-agreement-of-new-production-building-300648340.html

SOURCE Friday Night Inc.

View original content with multimedia: http://www.newswire.ca/en/releases/archive/May2018/15/c7174.html

Alexia Helgason, Corporate Communications, 604-674-4756 (ext. 1), Alexia@FridayNightInc.comCopyright CNW Group 2018

 

Source: Canada Newswire (May 15, 2018 – 8:15 AM EDT)

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Village Farms International Reports First Quarter 2018 Financial Results and Announces Commencement of Commercial-Scale Growing at Delta 3 Greenhouse

VANCOUVERMay 14, 2018 /CNW/ – Village Farms International, Inc. (“Village Farms” or the “Company”) (TSX: VFF) (OTCQX:VFFIF) today announced its financial results for the first quarter ended March 31, 2018.

(All amounts in U.S. Dollars unless otherwise indicated.)

Highlights for the First Quarter Ended March 31, 2018
(All comparable figures are for the first quarter ended March 31, 2017)

  • Sales of US$29.5 million, a decrease of (6%) from US$31.3 million;
  • Net loss was US($1.1) million, or US($0.03) per share, compared with a net loss of US($0.2) million, or US($0.00) per share; and,
  • EBITDA of US$1.8 million, a decrease of US($1.0), or (34)%, from US$2.8 million.

Cannabis Joint Venture (Pure Sunfarms) Update

  • Pure Sunfarms completed its initial cannabis harvest at the Delta 3 greenhouse, a portion of which will be submitted for testing under Health Canada’s sales licensing process and the remainder of which will be inventoried for sale when Pure Sunfarms receives its sales license;
  • Pure Sunfarms received an amendment to its cultivation license for the Delta 3 greenhouse from Health Canada, permitting Pure Sunfarms to initiate commercial scale growing, which commenced today. As previously announced, senior growing, financial, human resources and operational personnel, including the established team transferred from Village Farms, as well as multiple new management hires are in place for production ramp-up, and the search for a CEO is well underway;
  • Pure Sunfarms finalized a contract for the short-term rental of the requisite generating equipment to power supplemental lighting during the 2018/2019 winter months, while the installation of the approved additional 24MW by the local utility is in process. The power generation equipment will enable Pure Sunfarms to increase production throughout the 2018/2019 winter months, thereby accelerating the production ramp-up at the Delta 3 facility, such that Pure Sunfarms now conservatively projects production of approximately 7,000 to 8,000 kilograms in 2018 and 46,000 to 52,000 kilograms in 2019;
  • Pure Sunfarms entered into its first supply agreement, with Emerald Health Therapeutics, Inc. (“Emerald”) (TSXV: EMH; OTCQX: EMHTF; Frankfurt: TBD), under which Emerald will purchase 40% of Pure Sunfarms’ production in 2018 and 2019, or approximately 21,000 to 24,000 kilograms using current projected production targets, at a pre-determined price per gram. Pure Sunfarms is currently in discussions with multiple parties, including provincial governments and other licensed producers, in pursuit of additional supply agreements.

“The start today of commercial-scale cannabis production at the Delta 3 facility is the most significant milestone for Pure Sunfarms to date,” said Michael DeGiglio, CEO, Village Farms. “And we are thrilled to definitively move forward with the accelerated production plan, which significantly increases Pure Sunfarms conservative production targets to as much as 60,000 kilograms or more of dried cannabis through the end of 2019. This accelerated plan will enable Pure Sunfarms to more fully capitalize on the expected near-term shortfall of supply when adult use of cannabis is legalized in Canada.”

“In addition, Pure Sunfarms’ first supply agreement provides a strong initial revenue stream, while allowing the flexibility to pursue opportunities with government purchasers, as well as the significant near-term demand we are seeing from other licensed producers. With the advantage of Village Farms’ decades of experience designing, building, and operating large-scale greenhouse facilities and Emerald’s deep cannabis expertise, I am more than confident in Pure Sunfarms’ ability to steadily ramp up production in the 17 grow rooms within the 1.1 million square foot Delta 3 facility and consistently deliver high-quality and fulfill large-volume supply commitments.”

“In our produce business, while volumes from our Ontario partners were on target, our first quarter results were impacted by lower yields at our Texas facilities, lower volumes from our Mexican supply partner, and slightly lower volumes at our Delta, BC operations, as we have not yet fully replaced the capacity from the transfer of the Delta 3 facility to Pure Sunfarms. This capacity will be fully replaced by the Fall of this year. As a result, we were unable to benefit from favourable spot market pricing as our full production was committed to contracted-price retail customers. On the cost side, we experienced an approximately 25% increase in pound-for-pound freight costs due to new US regulation as of December requiring freight companies to install Electronic Logging Devices. This initial surge in freight costs, which impacted transportation costs in the US across all industries, have since subsided to single digit year-on-year increases.”

Financial Summary
(in thousands of U.S. Dollars unless otherwise indicated)

Consolidated Financial Performance
(In thousands of U.S. dollars, except per Share amounts)

For the three months
ended March 31,

2018

2017

Sales

$29,490

$31,277

Cost of sales

(25,902)

(27,320)

Selling, general and administrative expenses

(3,357)

(3,183)

Stock compensation expense

(118)

(41)

Change in biological asset (1)

(659)

(645)

(Loss) income from operations

(546)

88

Interest expense, net

(598)

(632)

Other income (expense)

25

4

Share of loss from joint venture

(237)

Provision for (recovery of) income taxes

(213)

(350)

Net income (loss)

(1,143)

(190)

EBITDA (2)

1,813

2,751

Income (Loss) per share/ basic

($0.03)

($0.00)

Income (Loss) per share/ diluted

($0.03)

($0.00)

(1)

Biological assets consist of the Company’s produce on the vines at the period end. Details of the changes are described in note 5 of the Company’s condensed consolidated interim financial statements for the quarter ended March 31, 2018.

(2)

EBITDA is not a recognized earnings measure and does not have a standardized meaning prescribed by IFRS. Therefore, EBITDA may not be comparable to similar measures presented by other issuers. See “Non-IFRS Measures”. Management believes that EBITDA is a useful supplemental measure in evaluating the performance of the Company.

 

First Quarter 2018 Operational Discussion:
(in thousands of U.S. Dollars unless otherwise indicated)

Sales

Sales for the three months ended March 31, 2018 decreased by ($1,787), or (6%), to $29,490 from $31,277 for the three months ended March 31, 2017. The decrease in sales is primarily due to a decrease in the Company’s supply partner product volume of (9%) and a decrease in the Company’s facilities production volume of (5%). The decrease in supply partner revenue is due to the transition from one primary Mexican supply partner to a new primary Mexican supply partner who is in the process of expanding its operations.

The average selling price for tomatoes decreased (4%) for the three months ended March 31, 2018 versus the three months ended March 31, 2017. Cucumber pricing decreased by (1%) and pepper pricing decreased by (20%) in the first quarter of 2018 versus the comparable quarter in 2017.

Cost of Sales

Cost of sales for the three months ended March 31, 2018 decreased by ($1,418), or (5%), to $25,902 from $27,320 for the three months ended March 31, 2017; primarily due to a decrease of ($1,335) in contract sales cost (due to decreased volume), partially offset by an increase in freight expense of $309.

Selling, General and Administrative Expenses

Selling, general, and administrative expenses for the three months ended March 31, 2018 increased by $174, or 5%, to $3,357 from $3,183 for the three months ended March, 31, 2017. The increase is due to marketing costs, legal fees, and consulting fees.

Stock Compensation Expenses

Stock compensation expense for the three months ended March 31, 2018 was $118 from $41 for the three months ended March 31, 2017.

Change in Biological Asset

The net change in fair value of the biological asset remained flat for the three months ended March 31, 2018 at ($659) from ($645) for the three months ended March 31, 2017. The fair value of the biological asset as at March 31, 2018 was $5,999 as compared to $6,285 as at March 31, 2017 due to lower production, offset by higher selling price in early April 2018 versus early April 2017.

Loss from Operations

Loss from operations for the three months ended March 31, 2018 decreased ($634) to ($546) from $88 for the three months ended March 31, 2017. The decrease is due to a decrease in sales and an increase in selling, general, and administrative expense for three months ended March 31, 2018 versus the three months ended March 31, 2017.

Interest Expense, net

Interest expense, net, for the three months ended March 31, 2018 decreased by ($34), to $598 from $632 for the three months ended March 31, 2017. The decrease is due to lower long term debt versus the prior year.

Share of (loss) from Joint Venture

The Company’s share of the loss for the three months ended March 31, 2018 was ($237), which consists of travel and other administrative costs.

Provision for Income Taxes

Income tax recovery for the three month period ended March 31, 2018 was ($213) compared to ($350) for the three month period ended March 31, 2017. The income tax recovery decreased due to a change in the United States future tax rate.

Net (loss)

Net loss for the three months ended March 31, 2018 increased by ($953) to a net loss of ($1,143) from ($190) for the three months ended March 31, 2017, primarily as a result of a decrease in sales, an increase in selling, general and administrative expenses, the loss from joint venture, and a decrease in the recovery of income taxes.

EBITDA

EBITDA for the three months ended March 31, 2018 decreased by ($938), or (34%), to $1,813 from $2,751 for the three months ended March 31, 2017, primarily as a result of a decrease in sales, its share of loss from Pure Sunfarms, and an increase in sales and administrative costs. See the EBITDA calculation in “Non-IFRS Measures – Reconciliation of Net Income to EBITDA”.

Non-IFRS Measures

References in this press release to “EBITDA” are to earnings before interest, taxes, depreciation, amortization, foreign currency exchange gains and losses on translation of long-term debt, unrealized change in biological asset, stock compensation, share of loss from joint venture, and gains and losses on asset sales. EBITDA is a cash flow measure that is not recognized under IFRS and does not have a standardized meaning prescribed by IFRS. Therefore, EBITDA may not be comparable to similar measures presented by other issuers. Investors are cautioned that EBITDA should not be construed as an alternative to net income or loss determined in accordance with IFRS as an indicator of the Company’s performance or to cash flows from operating, investing and financing activities as measures of liquidity and cash flows. Management believes that EBITDA is an important measure in evaluating the historical performance of the Company.

Reconciliation of Net Income to EBITDA

The following table reflects a reconciliation of net income (loss) to EBITDA, as presented by the Company:

(in thousands of U.S. dollars)

For the three months
ended March
 31,

2018

2017

Net income (loss)        

($1,143)

($190)

Add:

Amortization

1,801

1,951

Foreign currency exchange (loss) gain  

(7)

14

Interest expense

598

632

Income taxes (recovery)

(213)

(350)

Stock based compensation

118

41

Change in biological asset

659

645

(Gain) Loss on disposal of assets

8

EBITDA

$1,813

$2,751

 

Conference Call

Village Farms’ management team will host a conference call tomorrow, Tuesday, May 15, 2018, at 11:00 a.m. ET (8:00 a.m. PT) to discuss its first quarter 2018 financial results and provide an update on Pure Sunfarms. Participants can access the conference call by telephone by dialing (647) 427-7450 or (888) 231-8191, or via the Internet at http://bit.ly/2jWvIPf.

For those unable to participate in the conference call at the scheduled time, it will be archived for replay both by telephone and via the Internet beginning approximately one hour following completion of the call. To access the archived conference call by telephone, dial (416) 849-0833 or (855) 859-2056 and enter the passcode 9885703 followed by the pound key. The telephone replay will be available until Tuesday, May 22, 2018 at midnight (ET). The conference call will also be archived on Village Farms’ website at http://villagefarms.com/investor-relations/investor-calls.

About Village Farms International, Inc.

Village Farms International, Inc. is one of the largest and longest-operating vertically integrated greenhouse growers in North America and the only publicly traded greenhouse produce company in Canada. With more than 750 years of accumulated master grower experience coupled with advanced proprietary technology and environmentally sustainable growing practices, Village Farms is highly resource efficient. Village Farms produces and distributes fresh, premium-quality produce with consistency 365-days a year to national grocers in the U.S. and Canada from its large-scale Controlled Environment Agriculture (CEA) greenhouses in British Columbia and Texas, as well as from its partner greenhouses in BC, Ontario and Mexico.

Cautionary Language

Certain statements contained in this press release form constitute forward-looking information within the meaning of applicable securities laws (“forward-looking statements“). Forward-looking statements may relate to the Company’s future outlook or financial position and anticipated events or results and may include statements regarding the financial position, business strategy, budgets, litigation, projected production, projected costs, capital expenditures, financial results, taxes, plans and objectives of or involving the Company. Particularly, statements regarding future results, performance, achievements, prospects or opportunities for the Company, Pure Sunfarms, the greenhouse vegetable industry or the cannabis industry are forward-looking statements. In some cases, forward-looking information can be identified by such terms as “outlook”, “may”, “might”, “will”, “could”, “should”, “would”, “occur”, “expect”, “plan”, “anticipate”, “believe”, “intend”, “estimate”, “predict”, “potential”, “continue”, “likely”, “schedule”, “objectives”, or the negative or grammatical variation thereof or other similar expressions concerning matters that are not historical facts. Some of the specific forward-looking statements in this press release include, but are not limited to, statements with respect to: product pricing; maintaining profitability; risks inherent in the agricultural business; natural catastrophes; retail consolidation; covenant risk; dependence upon credit facilities; competition; transportation disruptions; labour; governmental regulations; product liability; key executives; uninsured and underinsured losses; vulnerability to rising energy costs; risks of regulatory change; environmental, health and safety risk, foreign exchange exposure, risks associated with cross-border trade; technological advances; accounting estimates; growth; tax risks; and risks related to the Joint Venture, including the Joint Venture’s ability to obtain licenses under the ACMPR, risks relating to conversion of the Company’s greenhouses to cannabis production, and the ability to cultivate and distribute cannabis.

The Company has based these forward-looking statements on factors and assumptions about future events and financial trends that it believes may affect its financial condition, results of operations, business strategy and financial needs, including that the Canadian economy will remain stable over the next 12 months, that inflation will remain relatively low, that interest rates will remain stable, that tax laws remain unchanged, that conditions within the greenhouse vegetable and cannabis industries generally will be consistent with the current climate, that recreational cannabis consumption will be approved by the Canadian government during 2018 and that the Canadian capital markets will provide the Company with access to equity and/or debt on reasonable terms when required.

Although the forward-looking statements contained in this press release are based upon assumptions that management believes are reasonable based on information currently available to management, there can be no assurance that actual results will be consistent with these forward-looking statements. Forward-looking statements necessarily involve known and unknown risks and uncertainties, many of which are beyond the Company’s control, that may cause the Company’s or the industry’s actual results, performance, achievements, prospects and opportunities in future periods to differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, the factors contained in the Company’s filings with securities regulators, including as detailed in the Company’s annual information form and management’s discussion and analysis for the year-ended December 31, 2017.

When relying on forward-looking statements to make decisions, the Company cautions readers not to place undue reliance on these statements, as forward-looking statements involve significant risks and uncertainties and should not be read as guarantees of future results, performance, achievements, prospects and opportunities. The forward-looking statements made in this press release only relate to events or information as of the date on which the statements are made in this press release. Except as required by law, the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

Village Farms International, Inc.

Condensed Consolidated Interim Statements of Financial Position

(In thousands of United States dollars)

(Unaudited)

March 31, 2018

December 31, 2017

ASSETS

Current assets

Cash and cash equivalents

$

3,869

$

7,091

Trade receivables

9,104

11,259

Other receivables

2,257

1,982

Inventories 

19,480

17,309

Income taxes receivable 

246

246

Prepaid expenses and deposits

627

564

Biological asset 

5,999

4,405

Total current assets

41,582

42,856

Non-current assets

Property, plant and equipment 

80,208

81,754

Investment in joint venture

15,490

15,727

Other assets 

1,962

2,004

Total assets

$

139,242

$

142,341

LIABILITIES

Current liabilities

Trade payables

$

8,375

$

12,952

Accrued liabilities

3,619

3,793

Line of credit

3,000

Income taxes payable

38

Current maturities of long-term debt  

2,615

2,620

Current maturities of capital lease obligations

72

72

Total current liabilities

17,719

19,437

Non-current liabilities

Long-term debt  

35,891

35,760

Long-term maturities of capital lease obligations

160

179

Deferred tax liability 

4,609

4,825

Deferred compensation

1,004

1,097

Total liabilities

59,383

61,298

SHAREHOLDERS’ EQUITY

Share capital

36,284

36,115

Contributed surplus

1,844

1,726

Revaluation surplus 

4,321

4,321

Accumulated other comprehensive loss

(446)

(391)

Retained earnings

37,856

39,272

Total shareholders’ equity

79,859

81,043

Total liabilities and shareholders’ equity

$

139,242

$

142,341

 

Village Farms International, Inc.

Condensed Consolidated Interim Statements of Income (Loss) and Comprehensive Income 

For the Three Months Ended March 31, 2018 and 2017

(In thousands of United States dollars, except per share data)

(Unaudited)

Three Months Ended March 31,

2018

2017

Sales 

$

29,490

$

31,277

Cost of sales 

(25,902)

(27,320)

Change in biological asset 

(659)

(645)

Selling, general and administrative expenses

(3,357)

(3,183)

Stock compensation expense

(118)

(41)

(Loss) income from operations

(546)

88

Interest expense

598

632

Foreign exchange (gain) loss

(7)

14

Other income

(18)

(26)

Share of loss from joint venture

237

Loss on sale of assets 

8

Loss before income taxes

(1,356)

(540)

Recovery of income taxes 

(213)

(350)

Net loss

$

(1,143)

$

(190)

Basic loss per share 

$

(0.03)

$

(0.00)

Diluted loss per share 

$

(0.03)

$

(0.00)

Other comprehensive income:

Foreign currency translation adjustment

(55)

13

Comprehensive loss

$

(1,198)

$

(177)

 

Village Farms International, Inc.

Condensed Consolidated Interim Statements of Cash Flows

For the Three Months Ended March 31, 2018 and 2017

(In thousands of United States dollars)

(Unaudited)

Three Months Ended March 31,

2018

2017

Cash flows used in operating activities:

Net loss

$

(1,143)

$

(190)

Adjustments to reconcile net loss to net cash
used in operating activities:

Depreciation and amortization

1,801

1,951

Amortization of deferred charges

18

Loss on sale of assets

8

Share of loss from joint venture

237

Interest paid

598

610

Share-based compensation 

118

41

Deferred income taxes

(216)

(350)

Change in biological asset

659

645

Changes in non-cash working capital items 

(7,390)

(7,346)

Net cash used in operating activities

(5,336)

(4,613)

Cash flows used in investing activities:

Purchases of property, plant and equipment

(348)

(431)

Net cash used in investing activities

(348)

(431)

Cash flows provided by financing activities:

Proceeds from borrowings

3,000

5,000

Repayments on borrowings

(77)

(838)

Interest paid on long-term debt

(598)

(610)

Proceeds from exercise of stock options

169

Payments on capital lease obligations

(17)

(13)

Net cash provided by financing activities 

2,477

3,539

Effect of exchange rate changes on cash and cash equivalents

(15)

1

Net decrease in cash and cash equivalents

(3,222)

(1,504)

Cash and cash equivalents, beginning of year

7,091

5,373

Cash and cash equivalents, end of year

$

3,869

$

3,869

Supplemental cash flow information:

Income taxes paid

$

$

 

SOURCE Village Farms International, Inc.

View original content: http://www.newswire.ca/en/releases/archive/May2018/14/c8618.html

Stephen C. Ruffini, Executive Vice President and Chief Financial Officer, Village Farms International, Inc., (407) 936-1190, ext. 340; Lawrence Chamberlain, Investor Relations, (416) 519-4196, lawrence.chamberlain@loderockadvisors.comCopyright CNW Group 2018

 

Source: Canada Newswire (May 14, 2018 – 5:00 PM EDT)

The post Village Farms International Reports First Quarter 2018 Financial Results and Announces Commencement of Commercial-Scale Growing at Delta 3 Greenhouse appeared first on CannabisFN.

Gotham Green Partners Invests US$50 Million in iAnthus to Accelerate Growth Initiatives

iAnthus Capital Holdings, Inc. (“iAnthus” or “the Company”), (CSE: IAN, OTCQB: ITHUF), which owns, operates, and partners with licensed cannabis operations throughout the United States, is pleased to announce that it has received a US$50 million investment from Gotham Green Partners (“GGP” or the “Investor”), which management believes to be the largest investment to date by a single investor in a publicly traded U.S. cannabis operating company.

iAnthus Capital Holdings, Inc. (CNW Group/iAnthus Capital Holdings, Inc.)

“Gotham Green Partners is well recognized as a long-term investor and leader within the cannabis investment community, and we are excited to partner with GGP to create value for our shareholders,” said Hadley Ford, CEO of iAnthus. “As the U.S. cannabis industry continues to grow, we will be well-capitalized and well-positioned to continue the buildout of our existing assets and pursue opportunistic acquisitions to expand our footprint.”

“As an early mover in the space, the iAnthus team has successfully assembled a portfolio of valuable licensed cannabis assets in attractive states with desirable demographics,” said Jason Adler, Managing Member of GGP. “iAnthus’ recent acquisitions in New York and Florida, combined with its operations in Massachusetts, provide a compelling growth and investment opportunity. With this infusion of capital, we look forward to working with the management team to source additional strategic opportunities and accelerate the Company’s growth profile.”

“Jason and the GGP team have demonstrated the ability to help portfolio companies accelerate geographic expansion and operational efficiencies to create meaningful value for investors,” said Julius Kalcevich, CFO of iAnthus. “GGP’s investment enables iAnthus to recapitalize its balance sheet with long-term exchangeable debt and significantly fund its key operations, particularly in New York and Florida. We look forward to GGP’s involvement in these activities in the coming quarters.”

Through 2018, the Company plans to allocate the proceeds of this financing in the following manner:

Repayment of US$20 million one-year note and accrued interest to VCP Bridge LLC;
Continued cultivation and dispensary build-outs in New York and Florida markets; and
Potential expansion activities consistent with iAnthus’ strategic objectives.
The remaining expenditures for completing iAnthus’ Massachusetts and Vermont operations will be funded with current cash on hand.

The Company’s wholly owned subsidiary iAnthus Capital Management, LLC has issued US$40 million aggregate principal amount of high yield senior secured notes, with a maturity date of three years (the “HY Notes”). The HY Notes have a 13% coupon, which may be paid in cash or in-kind for the first year. The HY Notes are exchangeable into shares of the Company at US$3.08 per share, which amount was reserved by price reservation with the Canadian Securities Exchange. The HY Notes include warrants to purchase, in the aggregate, up to 6,670,372 shares of the Company at US$3.60 per share, which amount was reserved by price reservation with the Canadian Securities Exchange. Beginning one year from today, iAnthus Capital Management may force the exchange of the HY Notes into common shares if the daily volume weighted average trading price of the Company’s common shares is greater than US$5.14 for any 20 consecutive trading days.

The Company has concurrently issued US$10 million aggregate amount of Units, with each Unit comprised of one Class A share of the Company at US$2.57 per share and a warrant to purchase one share of the Company at a price of US$3.86 per share, which amount was reserved by price reservation with the Canadian Securities Exchange.

Net cash proceeds to the Company are approximately US$46 million after the deductions of various fees and structuring costs. Pro forma for the repayment to VCP Bridge LLC, the Company will have a cash balance of approximately US$32 million.

The debt and equity securities were issued on a prospectus exempt basis and are subject to: (i) a hold period in Canada of four months and a day from the date of issuance; and (ii) an applicable US securities law legend.

Class A shares of the Company are identical to the common shares of the Company in all respects, other than the right to vote for directors of the Company. The Investor may convert Class A shares into common shares beginning on July 2, 2018.

iAnthus was advised by McMillan LLP and Fox Rothschild LLP, and Gotham Green Partners was advised by Honigman Miller Schwartz and Cohn LLP and SkyLaw Professional Corporation.

Conference Call and Webcast Details
The Company will hold a conference call for financial analysts and investors at 4:20pm ET on Monday, May 14, 2018 to discuss the Gotham Green investment and The Company’s operations. The call will be archived and available on iAnthus’ website for replay. Please visit http://ir.ianthuscapital.com/ to access the archived conference call.

Dial-In Number: (888) 231-8191 or international: (647) 427-7450
Conference ID: 1977128
Webcast: https://event.on24.com/wcc/r/1677342/18165D3FC49109044A30048492E622F0

A replay of the call will be available for 7 days by dialing: (855) 859-2056

About iAnthus Capital Holdings, Inc.

iAnthus Capital Holdings, Inc. owns and operates best-in-class licensed cannabis cultivation, processing and dispensary facilities throughout the United States, providing investors diversified exposure to the U.S. regulated cannabis industry. Founded by entrepreneurs with decades of experience in operations, investment banking, corporate finance, law and health care services, iAnthus provides a unique combination of capital and hands-on operating and management expertise. The Company uses these skills to support operations across six states. For more information, visit www.iAnthusCapital.com.

About Gotham Green Partners

Gotham Green Partners, LLC is a New York-based private equity firm focused on deploying capital into cannabis and cannabis-related enterprises on a global scale. The firm manages a diversified portfolio of investments and is actively investing across the cannabis value chain.

The post Gotham Green Partners Invests US$50 Million in iAnthus to Accelerate Growth Initiatives appeared first on CannabisFN.