Author: Ryan Allway

LOS ANGELES, March 25, 2019 – MJIC, Inc. (“MJIC” or the “Company”), a fully integrated omnichannel platform for legal cannabis, today announced that the Company will change its name to ManifestSeven (M7).

This corporate rebranding occurs as the Company prepares for public listing in Canada in the first half of 2019.

“Our new name – ManifestSeven – speaks to the evolution of our company and the destiny of legal, compliant cannabis in the United States,” said Sturges Karban, ManifestSeven’s Chief Executive Officer and Director. “As we prepare to enter the public markets, we are already seamlessly integrating fully compliant operations across California, creating the cannabis industry’s first omnichannel distribution and retail superhighway. Our name change speaks to our ambition to continue growing in California and other markets as they legalize across other states.”

About ManifestSeven

ManifestSeven (M7), based in Commerce, California, is the first integrated omnichannel platform for legal cannabis, merging compliant distribution with a retail superhighway. The Company services the needs of lawful operators across the supply chain, from the cultivator to the consumer, through an expansive network of seven facilities stretching from the San Francisco Bay Area to San Diego. M7 further augments its business-to-business value proposition with a growing portfolio of owned and operated retail operations located in major metro markets, including brick-and-mortar dispensaries, local on-demand delivery services, e-commerce and subscription offerings. To learn more, please visit: www.manifest7.com.

Media Contact:

Dave Quast, for ManifestSeven

+1 (213) 452-6348

dave.quast@fticonsulting.com

Municipality Supports WeedMD’s Outdoor Grow with 1st Harvest Expected in Fall 2019 Pending Health Canada Approval as Company Looks to Double Production by 2020

TORONTO, March 27, 2019 (GLOBE NEWSWIRE) — WeedMD Inc. (TSX-V:WMD) (OTCQX:WDDMF) (FSE:4WE) (“WeedMD” or the “Company”), a federally-licensed producer and distributor of medical-grade cannabis, is pleased to announce it has applied for an amendment to its Strathroy licence to expand beyond its existing cultivation with an initial 25-acre, large-scale, low-cost, outdoor cannabis grow operation with the capacity to increase up to 50 acres. The Company confirms it has secured the support of the Municipality of Strathroy-Caradoc for its planned outdoor grow expected to be completed in two phases. In 2019, Phase I will be brought online, representing more than 25 acres of production, with an additional 25 acres planned for Phase II in 2020. Pending Health Canada approval, the outdoor grow is expected to increase WeedMD’s total production footprint to upwards of 2.7 million square feet with the potential to yield over 100,000 kgs of cannabis in 2020 together with greenhouse cultivation.

WeedMD’s outdoor grow will be situated on organically-certified* soil on its 98-acre Strathroy property which also houses the Company’s 610,000 sq. ft. modern greenhouse facility. Outdoor grow video here.

“Our municipality is proudly home to a thriving agricultural community which has long supported our local businesses and we’re pleased that WeedMD continues to expand its local footprint in a progressive and economically-viable manner,” said Mayor Joanne Vanderheyden, Municipality of Strathroy-Caradoc. “We welcome and wholly support its push for outdoor expansion along with the job opportunities, sustainable cultivation and community engagement it will bring for the continued long-term growth of our municipality.”

“In November 2017, we initially selected this 98-acre property in Strathroy because of its expansion potential, which included low-cost scalable outdoor production that is strategically located alongside our licensed state-of-the-art greenhouse propagation operations. WeedMD, with its proven cultivation team, genetics bank and propagation capabilities, has positioned itself as a first-mover in the industry,” said Keith Merker, CEO of WeedMD. “With our outdoor grow site, we will continue producing cannabis products at an expected lower cost, in a supportive municipality that will complement our existing robust production platform with our first outdoor harvest expected in fall 2019.”

“With the anticipated demand for extracted products and cannabis concentrates, our experienced cultivation team and proven outdoor grow genetics are expected to generate high yields at very low cost. The addition of an outdoor grow will ensure that WeedMD is positioned to meet the needs of its patients and customers in the ever-expanding cannabis market,” said Derek Pedro, Chief Cannabis Officer of WeedMD. “Our methodologies and standardized innovative practices have been derived from more than 15 years of outdoor growing experience under Canada’s legal cannabis programs. With cannabis plants being readied for transplant in June 2019, WeedMD is optimally positioned to rapidly scale production and is already being recognized as an industry-leader and expert in outdoor cultivation.”

Highlights of WeedMD’s Large-Scale, Low-Cost Outdoor Expansion

• Phase I of the outdoor grow is more than 25 acres.  Capable of producing more than 25,000 kgs of cannabis, WeedMD has already commenced retrofitting the highly-secured space and its first outdoor harvest is expected in fall 2019.
• Phase II will bring the total outdoor grow to 50 acres in 2020. Increases WeedMD’s total production footprint to over 2.7 million square feet with the potential to yield more than 100,000 kgs of cannabis in 2020.
• Industry-leading production costs. With the cultivation of outdoor cannabis, WeedMD expects its production costs to be amongst the lowest in the industry.
• Experienced leadership team with leading methodologies to revolutionize outdoor cultivation. WeedMD’s skilled cultivation team is led by industry pioneer and Chief Cannabis Officer Derek Pedro who together have more than 40 years of combined outdoor, indoor and greenhouse cultivation experience.
• Outdoor grow complements WeedMD’s greenhouse cultivation in Strathroy. With the outdoor grow adjacent to its state-of-the-art 610,000 sq. ft. hybrid greenhouse facility in Strathroy, the Company can utilize existing, on-site storage and packaging as per Health Canada regulations. Also, WeedMD will leverage its existing site for its propagation, genetics and clones ahead of the outdoor growing season to take into account the longer growing period for its proprietary outdoor genetics.
• Sustainable growing practices. Cultivated in a natural environment using sustainable growing practices such as direct sunlight, pre-tested live soil that is certified-organic*, onsite water reservoir, appropriate ventilation, natural bio-security practices and state-of-the-art irrigation mechanisms already in place, Strathroy is positioned to become the standard of excellence for outdoor cannabis cultivation.

* Organically-certified soil as accredited by the Centre for Systems Integration (CSI), a division of the Canadian Seed Institute.

For more information, access WeedMD’s investor presentation here and recently updated corporate video here.

About WeedMD Inc.
WeedMD Inc. is the publicly-traded parent company of WeedMD Rx Inc., a federally-licensed producer and distributor of cannabis products for both the medical and adult-use markets. The Company operates two facilities: a 26,000 sq. ft. indoor facility in Aylmer, Ontario and a state-of-the-art greenhouse and outdoor facility located in Strathroy, Ontario. The site currently has 110,000 square feet of licensed greenhouse space in production and is expected to have a total footprint of more than 550,000 square feet of greenhouse space as well as more than 25 acres of outdoor cultivation space online in the first half of 2019. WeedMD has a multi-channeled distribution strategy that includes selling directly to medical patients, strategic relationships across the seniors’ market and supply agreements with Shoppers Drug Mart as well as six provincial distribution agencies.

Follow WeedMD On:

Facebook: https://www.facebook.com/weedmd/
LinkedIn: https://www.linkedin.com/company/weedmd/?originalSubdomain=fr
Twitter: https://twitter.com/WeedMD
Instagram: https://www.instagram.com/weedmd/

For further information, please contact:

WeedMD Inc.

Keith Merker, Chief Executive Officer
Tel: 519-765-2440 Ext. 222
Email: investor@weedmd.com

To learn more, visit us at www.weedmd.com

For Media Inquiries:

Marianella delaBarrera
VP, Communications & Corporate Affairs
Tel: 416-897-6644
Email: marianella@weedmd.com

Cautionary Statement on Forward-Looking Information

This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation which are based upon WeedMD’s current internal expectations, estimates, projections, assumptions and beliefs and views of future events. Forward-looking information can be identified by the use of forward-looking terminology such as “expect”, “likely”, “may”, “will”, “should”, “intend”, “anticipate”, “potential”, “proposed”, “estimate” and other similar words, including negative and grammatical variations thereof, or statements that certain events or conditions “may”, “would” or “will” happen, or by discussions of strategy.

The forward-looking information in this news release is based upon the expectations, estimates, projections, assumptions and views of future events which management believes to be reasonable in the circumstances. Forward-looking information includes estimates, plans, expectations, opinions, forecasts, projections, targets, guidance or other statements that are not statements of fact. Forward-looking information in this news release include, but are not limited to, statements with respect to internal expectations, expectations with respect to actual production volumes, expectations for future growing capacity and the completion of any capital project or expansions. Forward-looking information necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; loss of markets; future legislative and regulatory developments; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the cannabis industry in Canada generally; the ability of WeedMD to implement its business strategies; competition; crop failure; and other risks.

Any forward-looking information speaks only as of the date on which it is made, and, except as required by law, WeedMD does not undertake any obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for WeedMD to predict all such factors. When considering this forward-looking information, readers should keep in mind the risk factors and other cautionary statements in WeedMD’s Annual Information Form dated December 13, 2017 (the “AIF”) and other disclosure documents of WeedMD filed with the applicable Canadian securities regulatory authorities on SEDAR at www.sedar.com. The risk factors and other factors noted in the AIF and other disclosure documents could cause actual events or results to differ materially from those described in any forward-looking information.

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

TORONTO, March 26, 2019 (GLOBE NEWSWIRE) — Blueberries Medical Corp. (CSE: BBM) (OTC: BBRRF) (FRA: 1OA) (the “Company” or “Blueberries“), a leading Colombia based licensed producer of medicinal cannabis and cannabis-derived products, is pleased to announce that the Company has entered into a binding agreement effective March 25, 2019  to acquire cannabis cultivation, processing, manufacturing, export and other rights in Argentina (the “Letter Agreement”) from BBV Labs Inc. (“BBV Labs”). Pursuant to a definitive agreement with the Argentinian state-owned company Cannabis Avatara, S.E. (“Cannava”), BBV Labs has entered into a joint venture (the “Joint Venture”) with Cannava to develop and cultivate cannabis on a 3.2 million square foot (74 acres or 30 hectares) prime agricultural property. Cannava will contribute the land to the Joint Venture as well as all required permits and authorizations necessary to import seeds, cultivate, grow and harvest cannabis, process cannabis and extract cannabis oil and other derivative products for scientific, medicinal and therapeutic purposes and to export cannabis and derivative products and import and export related equipment and products.

Highlights Include:

• The rights to cannabis licenses in Argentina acquired by Blueberries are amongst very few such agreements currently in place to supply cannabis products to the Argentinian population exceeding 44 million people. The acquisition also expands the Company’s production footprint internationally and may provide additional export opportunities to other countries with evolving cannabis regulations.

• Blueberries to build a large-scale modern cultivation facility and processing centre of excellence in Argentina.

• Cannava will contribute all licenses/permits and authorizations necessary to import seeds, cultivate, grow and harvest cannabis, process cannabis, extract cannabis oil and other derivative products, export cannabis and derivative products, and import/export equipment and products.

• Cannava will grant access to utilize 3.2 million square foot (74 acres or 30 hectares) of prime agricultural land for the cultivation and growth of cannabis in Jujuy Province, Argentina, ideally situated in an area with robust modern infrastructure including fresh water, modern power supply and a nearby airport, with additional land available for potential future expansion.

• Cannava will contribute all cooperation agreements with the National Institute of Agricultural Technology (INTA), Ministry of Security, Ministry of Public Health, National Council of Scientific and Technological Investigations (CONICET) and other regulatory and technological Argentinian authorities as required.

“To be one of the first and limited number of companies with rights to cannabis licenses in Argentina is a tremendous opportunity for Blueberries to further establish itself as a leading South American cannabis company and create a dominant position in these markets, stated Camilo Villalba, Chief Operating Officer. The unique position of working directly with state-owned Cannava is a privilege. We look forward to quickly scaling to meet the demand for premium medical grade cannabis and cannabis products in Argentina.”

Argentina’s relatively nascent cannabis industry began in 2017 with the legalization of cannabis for prescribed medical use. To date Cannava is the only entity authorized to cultivate and produce cannabis and derivatives in Argentina and Blueberries is among the first and limited number of companies to have such an arrangement with Cannava.

The 3.2 million square foot site is located on the El Pongo agricultural property in the province of Jujuy. The area is located in an ideal, temperate climate that permits year-round cultivation and has a skilled and efficient agricultural labor force. The El Pongo farm is an established agricultural site with an operating history of over 100 years. The property is fed by multiple rivers providing ample access to fresh water for irrigation. The power supply is modern and has capacity to scale as production capacity is increased. An international airport only 8km away is an ideal hub for import and export. The recent authorization of El Pongo as Argentina’s first, and potentially on of the world’s largest cannabis farm is expected to pave the way for a new industry in Argentina.

Terms of the Transaction

Pursuant to the terms of the Letter Agreement, Blueberries will acquire 75% of all of BBV Labs rights under the Joint-Venture with Cannava. As consideration for its interest, Blueberries will issue an aggregate of 16,000,000 common shares to BBV Labs and/or its nominees, which represents, in aggregate, approximately 12.9% of the number of issued and outstanding common shares of Blueberries (assuming no further share issuances by Blueberries before closing). The closing of the contemplated transaction is subject, among other conditions, to satisfactory legal and financial due diligence, and completion of a definitive share purchase agreement and is expected to close in Q2 2019.

Pursuant to the Joint Venture Agreement, proceeds from the manufacture and distribution activities will be distributed 90% to BBV Labs and 10% to Cannava and proceeds from the cultivation and growth activities will be distributed 70% to BBV Labs and 30% to Cannava. Going forward, Blueberries will be responsible for providing the expertise and capital required to operate and develop the Joint Venture operation. The Letter Agreement was negotiated at arm’s length.

About Blueberries Medical Corp.
Blueberries is a Colombia-based licensed producer of naturally grown premium quality cannabis with its primary operations ideally located in the Bogotá Savannah of central Colombia. Led by a specialized team with proprietary expertise in agriculture, genetics, extraction, medicine, pharmacology and marketing, Blueberries is fully licensed for the cultivation, production, domestic distribution, and international export of CBD and THC-based medical cannabis. Blueberries’ combination of leading scientific expertise, agricultural advantages and distribution arrangements has positioned the Company to become a leading international supplier of naturally grown, processed, and standardized medicinal-grade cannabis oil extracts and related products.

Additional information about the Company is available at www.blueberriesmed.com. For more information, please contact:

Camilo Villalba, Chief Operating Officer
Tel: +57.313.483.0131
Email: cvillalba@blueberriesmed.com

Jessika Angarita, Pacta Relations
Tel: +1 (305) 877 4710
Email: angarita@pactarelations.com

Cautionary Note Regarding Forward-Looking Information
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward looking statements relate, among other things, to: completion of satisfactory due diligence by each of the Company and BBV Labs Inc., the entering into a definitive agreement with respect to the proposed share acquisition on the terms set out herein or at all, internal expectations, expectations regarding the ability of the Company to expand its cultivation facilities and access new Latin American markets, including, without limitation, access to free-trade zone markets, and access to export cannabis products to Brazil and Chile, the ability to attract and retain new customers, and future expansion plans including development of the cultivation, production, industrialization and marketing of cannabis for scientific purposes related to the proposed Joint Venture.

These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: fluctuations in general macroeconomic conditions; fluctuations in securities markets; expectations regarding the size of the Colombian and international medical cannabis market and changing consumer habits; the ability of the Company to successfully achieve its business objectives; plans for expansion; political and social uncertainties; inability to obtain adequate insurance to cover risks and hazards; and the presence of laws and regulations that may impose restrictions on cultivation, production, distribution and sale of cannabis and cannabis related products in Colombia or internationally; and employee relations. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

Additional information regarding the Company, and other risks and uncertainties relating to the Company’s business are contained under the heading “Risk Factors” in the Company’s Listing Statement dated January 31, 2019 filed on its issuer profile on SEDAR at www.sedar.com.

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

OTTAWA, ONTARIO, March 26, 2019 (GLOBE NEWSWIRE) — LiveWell Canada Inc. (“LiveWell” or the “Company”), (CSE: LVWL), today announced that it has closed a private placement of Senior Secured Convertible Notes (“Note”) with institutional investors (“investors”) for total aggregate gross proceeds of US$15,000,000, before agent fees and legal expenses of approximately US$2,100,000. The total aggregate gross proceeds include the previously announced US$3,000,000 bridge financing and as well an additional US$12,000,000 Note. The Company also closed a private placement of Equity Units with retail investors for aggregate gross proceeds of CAD$1,700,000, before agent fees and legal expenses of approximately CAD$284,000. The total net proceeds from these two capital raises will primarily be used to optimize and enhance production at the Eureka, Montana extraction facility, with the balance of the funds being used to begin retrofitting the Las Cruces, New Mexico facility and for general corporate purposes.

“Closing this private placement enables us to continue scaling our operations to meet the increasing market demand for high-purity CBD,” said David Rendimonti, Chief Executive Officer of LiveWell. “With our strengthened balance sheet, we are now well-positioned to fully-optimize our Montana extraction facility as we continue to work towards exceeding our goal of producing 100kg/day of CBD isolate. The entire leadership team remains laser-focused on scaling our production output in Montana to fuel top-line growth and drive value for our stakeholders.”

The Notes, secured against various company assets, will bear an interest rate of 10% payable monthly in cash or stock, at the option of the Company, subject to certain equity conditions and will be convertible into common shares at a price of C$0.74 per share. In addition to the notes, the investors will also receive 6,000,000 common share warrants of Vitality CBD Natural Health Products Inc. (“Vitality”), priced at US$1.00 each.  The Notes will mature on April 20, 2020.

The US$12,000,000 Note includes a holdback provision of US$6,000,000. US$2,400,000 is to be released upon successful completion of the LiveWell and Vitality merger transaction and relisting on the CSE. The remaining US$3,600,000 will be released subsequent to the attainment of certain Company performance milestones. In the event the LiveWell and Vitality merger transaction is not approved, it will be deemed a default event for the US$15,000,000 secured convertible notes.

Each Equity Unit consists of one common share in the capital of the Company and one common share purchase warrant. Each Warrant shall be exercisable into one common share of the Company at a price of CAD$0.74. The warrants expire 60 months after the closing date.

As previously announced on December 3, 2018, LiveWell signed a binding letter of agreement to merge with Vitality CBD Natural Health Products Inc., one of the largest industrial hemp cultivation and extraction operations in North America. This merger is subject to a shareholder vote at a Special Meeting which will be held on April 11, 2019. Additional information on the merger can be found in the Management Information Circular which has been filed on SEDAR.

A.G.P./Alliance Global Partners acted as exclusive placement agent and financial advisor on the Convertible Debt Private Placement.

Industrial Alliance Securities Inc., acted as placement agent on the Canadian portion of the Equity Private Placement.

About LiveWell

LiveWell is an innovative Canadian health and wellness company focused on the advanced research of CBD and other cannabinoids. Utilizing state-of-the-art manufacturing facilities, LiveWell aims to cost-effectively extract and refine large quantities of hemp-derived CBD, better enabling it to develop, market and distribute wholesale and consumer products.

Cautionary Note Regarding Forward-Looking Statements

This release includes forward-looking statements about the Company and its business. Often, but not always, forward-looking statements can be identified by the use of words such as “plan”, “continue”, “expect”, “schedule”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or statements (including negative variations) that certain events or conditions “may” or “will” occur. Such statements are based on the current expectations of management. The forward-looking events and circumstances discussed in this release may not occur by certain specified dates or at all and could differ materially as a result of unknown and known risk factors and uncertainties affecting the Company. Further, the Company cautions that this foregoing list of material factors is not exhaustive, and readers are encouraged to read all Risk Factors disclosed in the Company’s Management Discussion & Analysis dated October 26, 2018.

The forward-looking information contained in this press release represents expectations of the Company as of the date of this press release and accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable securities laws.

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Deborah Stokes
LiveWell Canada Inc.
819 576 3789
dstokes@livewellfoods.ca

Conrad Seguin
LiveWell Canada Inc.
437-226-7002
cseguin@livewellfoods.ca

David Rendimonti
LiveWell Canada Inc.
819-718-2042

TORONTO, March 26, 2019 (GLOBE NEWSWIRE) — Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) (“Cronos Group” or the “Company”), today announced financial results for the fourth quarter and full year ended December 31, 2018.

Closed C$2.4 Billion Strategic Growth Investment from Altria Group, Inc.

Completed first harvest in Peace Naturals expansion to Building 4

Launched Two Recreational Brands: COVE and Spinach

Announced Landmark Partnership with Ginkgo Bioworks to Produce Cultured Cannabinoids

Became first Pure Play Cannabis Company to list on a Major U.S. Exchange

“We are proud of all we have accomplished in 2018 and in the fourth quarter. Over the past year, Cronos Group has diligently focused on our strategic objectives, which culminated in our transformative partnership with Altria Group, Inc.,” said Mike Gorenstein, CEO of Cronos Group. “We’ve expanded our production footprint domestically and internationally, developed our distribution with global partnerships, launched iconic brands for the Canadian adult-use market and grown our IP portfolio with landmark research and development initiatives.”

“At Cronos Group, we take pride in leading the industry forward responsibly and are motivated to create meaningful products that excite our consumers and bring happiness and an improved quality of life. We are very excited to partner with Altria to help us realize our goals. Altria’s investment and the services they provide will enhance our resources and enable us to scale our product development and commercialization capabilities. The growth potential in the cannabis industry is vast and we are only just beginning. With our differentiated brands, global footprint, growing production capacity and commitment to cannabinoid innovation, together with Altria’s partnership, Cronos Group is well positioned to realize this opportunity. We’re heading into 2019 energized and ready to execute on our strategy.”

Corporate Milestones and Updates

Cronos Group became the first pure play cannabis company to list on a major stock exchange in the United States. The Company’s common shares began trading on the NASDAQ Global Market (“NASDAQ”) under the trading symbol “CRON” in February 2018. Another milestone came in May 2018, as the trading of Cronos Group’s common shares in Canada was up-listed from the TSX Venture Exchange to the Toronto Stock Exchange (“TSX”). In May 2018, the Cronos Group board of directors (the “Cronos Group Board”) approved the appointment of KPMG LLP as independent auditor of the Company. These major corporate milestones reflect the significant progress Cronos Group has made in strengthening our corporate governance structure.

In March 2019, the Company closed the $2.4 billion equity investment in the Company previously announced in December 2018 (the “Altria Investment”) by Altria Group, Inc. (“Altria”), pursuant to a subscription agreement dated December 7, 2018. At closing, Altria also received a warrant to acquire additional common shares of the Company (the “Warrant”) that if fully exercised at closing, would provide the Company with approximately $1.4 billion of additional proceeds.

As of the closing date of the Altria Investment, Altria held an approximately 45% ownership interest in the Company (calculated on a non-diluted basis) and, if exercised in full on such date, the exercise of the Warrant, would result in Altria holding a total ownership interest in the Company of approximately 55% (calculated on a non-diluted basis). This strategic partnership with Altria provides Cronos Group with additional financial resources, product development and commercialization capabilities, and deep regulatory expertise to better position the Company to compete in the global cannabis industry.

In connection with the closing of the Altria Investment, the Cronos Group Board expanded from five to seven members. The Cronos Group Board now consists of Cronos Group CEO, Mike Gorenstein as Chairman, Jim Rudyk, Chief Financial Officer of Roots Corporation, who will serve as lead director, and Jason Adler, Founder and Managing Partner of Gotham Green Partners, LLC. Four new directors nominated by Altria were also appointed to the Cronos Group Board in connection with the closing of the Altria Investment, including Kevin “K.C.” Crosthwaite Jr., Senior Vice President, Chief Strategy and Growth Officer of Altria; Bronwen Evans, an independent consultant; Murray Garnick, Executive Vice President and General Counsel of Altria; and Bruce Gates, former Senior Vice President of External Affairs at Altria. These new directors to the Cronos Group Board bring additional experience and expertise as Cronos Group continues to grow globally.

Along with new appointees to the Cronos Group Board, Cronos Group bolstered its management team with the addition of Jerry Barbato, who has been appointed Chief Financial Officer (“CFO”) of the Company, effective April 15, 2019. Mr. Barbato most recently was the Senior Director of Corporate Strategy at Altria and will assume the CFO role from William Hilson, who will transition to a new role as Cronos Group’s Chief Commercial Officer, also effective April 15, 2019. As Chief Commercial Officer, Mr. Hilson will report to Mike Gorenstein and be responsible for further enhancing the commercial strategy as well as the product and research development priorities of the Company.

Global Production Footprint

Cronos Group is committed to building a global network, with partnerships, joint ventures, production and distribution across international and domestic markets. In the Canadian market, the Company’s wholly-owned licensed producer and center of excellence, Peace Naturals Project Inc. (“Peace Naturals”), yielded its first harvest in December 2018 in the newly completed Building 4 (“B4”) at the Peace Naturals campus. B4 is Cronos Group’s 286,000 sq. ft. purpose-built indoor production facility, which was built to Good Manufacturing Practice (“GMP”) standards. In 2018, the Company not only constructed B4 but also completed construction of the Peace Naturals greenhouse. Peace Naturals engages in the cultivation, production, and research and development of cannabis, cannabinoids and cannabis-based products.

Additionally, the Company announced a venture with a group of investors led by Bert Mucci, a leading Canadian large-scale greenhouse operator. The entity created by this new partnership, Cronos Growing Company Inc. (“Cronos GrowCo”), expects to construct an 850,000 square foot, purpose-built, greenhouse on approximately 100 acres of land, owned by Cronos GrowCo in Kingsville, Ontario.

Cronos Group’s joint venture, Cronos Israel, with the Israeli agricultural collective settlement Kibbutz Gan Shmuel (“Gan Shmuel”) for the production, manufacture and distribution of medical cannabis, is currently under construction. The Company anticipates that construction of the 45,000 sq. ft. greenhouse will be complete in the first half of 2019 and construction of the manufacturing facility will be complete in the second half of 2019.

In January 2019, the Israeli government approved the export of medical cannabis from Israel, which would allow medical cannabis license holders who meet certain quality standards to export medical cannabis, under tight supervision of the Israeli authorities, to Single Convention of Narcotic Drugs signatory countries that have explicitly approved the import of cannabis. The Company intends to pursue the necessary licensing for and export of medical cannabis products from Cronos Israel once production operations have commenced.

Internationally, Cronos Group announced a joint venture with an affiliate of Agroidea SAS , a leading Colombian agricultural services provider with over 30 years of research, development and production operations and expertise managing industrial scale horticultural operations in Colombia.

This partnership establishes a newly formed entity, NatuEra S.à r.l. (“NatuEra”), in Colombia that will develop, cultivate, manufacture and export cannabis-based medical and consumer products for the Latin American and global markets. NatuEra is the cannabis industry’s first Contract Manufacturing Organization (CMO) in Latin America, with plans to allow the growing number of cannabis brands to outsource cultivation and manufacturing. NatuEra plans to develop its initial cultivation and manufacturing operations with a purpose-built, GMP-standard facility located in Cundinamarca, Colombia.

NatuEra was granted a license to cultivate non-psychoactive cannabis plants to produce seeds for planting and the manufacture of derivative products. Commencement of operations at the facility will be subject to obtaining the remaining appropriate licenses under applicable law.

The Company also announced a joint venture in Australia at the start of 2018 (“Cronos Australia”) for the research, production, manufacture and distribution of medical cannabis. The Company owns a 50% equity interest in Cronos Australia and believes that Cronos Australia will serve as its hub for Australia, New Zealand and South East Asia, bolstering the Company’s supply capabilities and distribution network in the Australasia region.

Global Sales and Distribution

On October 17, 2018, Canada became the first G7 country and the second country in the world to legalize cannabis sales for adult use. Cronos Group participated in this new market through the launch of its two adult-use brands COVE and Spinach. Currently, these brands are distributed to the following provinces: Ontario, British Columbia, Nova Scotia, Prince Edward Island and Saskatchewan. As Cronos Group’s production capacity grows, the Company intends to explore expanding its distribution into additional Canadian provinces and territories by entering into agreements with the appropriate parties.

Additionally, for the Canadian market, Cronos GrowCo, entered into a supply agreement with Cura Cannabis Solutions (“Cura”) in August 2018. Cura signed a five year take-or-pay supply agreement to purchase a minimum of 20,000 kilograms of cannabis per annum from Cronos GrowCo after Cura receives all necessary licenses from Health Canada.

In March 2018, Cronos Group announced a joint venture with MedMen Enterprises USA, LLC. The Company owns a 50% equity interest in the joint venture MedMen Canada Inc. (“MedMen Canada”).  MedMen Canada is focused on branded products in Canada and creating a Canadian branded retail chain in provinces that permit private retailers. MedMen Canada is in the process of reviewing and analyzing the evolving regulatory retail landscape in provinces where private retail is permitted under applicable law.

Internationally, Cronos Group made strides to expand its footprint with a distribution agreement to supply the medical market in Poland. In June 2018, Cronos Group entered into a five-year exclusive distribution partnership with Delfarma Sp. Zo.o (“Delfarma”). Delfarma, pharmaceutical wholesaler with a distribution network of over 5,000 pharmacies and more than 200 hospitals, reaches approximately 40% of the Polish domestic market. Under the five-year exclusive distribution agreement, Cronos Group will supply Peace Naturals branded cannabis products to Delfarma for distribution within Poland. The Company also has a five-year exclusive distribution agreement with G. Pohl-Boskamp GmbH & Co. KG entered into in October 2017, an international European pharmaceutical manufacturer and distributor, for the German market.

Intellectual Property Initiatives

Cronos Group’s vision to transform industries through cannabinoid innovation has resulted in two key research and development initiatives with Ginkgo Bioworks, Inc. (“Ginkgo”) and Technion Research and Development Foundation of the Technion – Israel Institute of Technology (“Technion”).

In September 2018, Cronos Group and Ginkgo announced a landmark partnership to produce cultured cannabinoids through fermentation that are identical to those extracted from the cannabis plant. The research and development partnership is focused on producing large volumes of eight target cannabinoids, including rare cannabinoids, from custom yeast strains by leveraging existing fermentation infrastructure without incurring significant capital expenditures to build new cultivation and extraction facilities.

The Company will fund certain research and development and foundry expenses expected to be approximately US$22.0 million, subject to the achievement of certain milestones. In addition, tranches of Cronos Group’s common shares will be issued to Ginkgo, upon Ginkgo’s demonstration that the microorganisms are able to produce the target cannabinoids for less than US$1,000 per kilogram of pure cannabinoid at a scale of greater than 200 liters.

In November 2018, Ginkgo received from the U.S. Drug Enforcement Agency (the “DEA”) a DEA Researcher Controlled Substance Registration Certificate and a Researcher Controlled Substance Registration Certificate from the Massachusetts Department of Public Health for the conduct of research involving cannabinoids. The Company intends to produce and distribute the target cannabinoids globally and has received confirmation from Health Canada that this method of production is permitted under the Cannabis Act.

In October 2018, Cronos Group announced that the Company had entered into a sponsored research agreement with Technion to explore the use of cannabinoids and their role in regulating skin health and skin disorders. The preclinical studies will be conducted by Technion over a three-year period and will focus on three skin conditions: acne, psoriasis and skin repair. Research will be led by Technion faculty members Dr. David “Dedi” Meiri, Head, Laboratory of Cancer Biology and Cannabinoid Research, and Dr. Yaron Fuchs, Head, Laboratory of Stem Cell Biology and Regenerative Medicine, two of the world’s leading researchers in cannabis and skin stem cell research, respectively.

Brand Portfolio

Cronos Group is building an iconic brand portfolio designed to meet the needs and exceed the expectations of our consumers. In May 2018, Cronos Group previewed its premium recreational brand COVE. COVE was born in the Okanagan Valley in British Columbia, which is known for producing some of the world’s finest cannabis. COVE products are terpene-rich and hand-trimmed using only the best results from each harvest. By avoiding shortcuts like harsh refining processes, COVE maintains the natural balance of the plant across all the brand’s terpene-rich cannabis extracts and brings the highest quality products to its consumers.

In September 2018, Cronos Group launched its other adult-use brand, Spinach. This mainstream adult-use brand is fun, lighthearted and playful. Spinach is focused on offering Farm-To-Bowl products that bring friends together and make experiences more enjoyable. This brand has High Expectations and is geared towards a wide range of consumers that don’t take life too seriously and are looking for entertaining, fun ways to enhance activities.

Financial Highlights Fiscal Year 2018 and Subsequent to Fiscal 2018

Cronos Group reported net revenues of $5.6 million in the fourth quarter 2018 as compared to $1.6 million for the fourth quarter 2017, representing an increase of $4.0 million, or 248%. The increase in revenue was driven by shipments to the Canadian adult-use market and growth in cannabis oil revenue. For full year 2018, the Company reported net revenue of $15.7 million as compared to $4.1 million for full year 2017, representing an increase of $11.6 million, or 285%. The increase in revenues was driven by increased production capacity, commencement of shipment into the Canadian adult-use market, growth of the Company’s medical client base and growth in cannabis oil revenues.

The Company reported gross profit before fair value adjustments of $2.5 million in the fourth quarter 2018 as compared to $0.4 million for the fourth quarter 2017, representing an increase of $2.0 million, or 449%. The increase in gross profit before fair value adjustments was largely driven by an increase in kilograms sold over the comparable prior year period. Gross margin before fair value adjustments was 44% in the fourth quarter of 2018. The Company reported gross profit before fair value adjustments of $8.0 million in the full year 2018 as compared to $2.0 million for the full year 2017, representing an increase of $6.0 million, or 294%. This increase driven by the increase in kilograms sold during the period. Gross margin before fair value was 50% in the full year of 2018.

Cronos Group reported total operating expenses of $12.4 million in the fourth quarter 2018 as compared to $2.9 million for the fourth quarter 2017, representing an increase of $9.5 million, or 328%. The increase in operating expenses was driven by an increase in research and development expenses, talent acquisition and an increase in professional and consulting fees for serves rendered in connection with various strategic initiatives, including the Altria Investment. For full year 2018, the Company reported operating expenses of $29.4 million as compared to $9.3 million for full year 2017, representing an increase of $20.0 million, or 215%. The increase in operating expenses was driven by an increase in research and development expenditures including the Ginkgo Strategic Partnership, talent acquisition and an increase in professional and consulting fees for services rendered in connection with various strategic initiatives.

In 2018, Cronos Group strengthened liquidity by raising $100.0 million and $46.0 million of gross proceeds through two separate bought deal offerings of common shares in April 2018 and January 2018, respectively. In March 2019, the Company’s liquidity position was further strengthened by the closing of the Altria Investment.

In January 2019, the Company entered into a credit agreement with Canadian Imperial Bank of Commerce, as administrative agent and lender, and the Bank of Montreal, as lender, in respect of a $65 million secured non-revolving term loan credit facility (the “Credit Facility”). In connection with the closing of the Credit Facility, the Company used the funds available under the Credit Facility to fully repay its $40.0 million senior secured construction loan with Romspen Investment Corporation. In March 2019, the Credit Facility was repaid in full by the Company with a portion of the proceeds from the Altria Investment.

In March 2019, the Company sold all of its approximately 19% equity interest in Whistler Medical Marijuana Corporation (“Whistler”) to Aurora Cannabis Inc. (“Aurora”) in an all-share transaction (the “Aurora Acquisition”). At closing of the Aurora Acquisition, the Company received approximately $24.7 million in value of Aurora common shares. Subject to the satisfaction of certain specified milestones, the Company expects to receive an additional $7.6 million in value of Aurora common shares.

Conference Call

The Company will host a conference call and live audio webcast on Tuesday, March 26, 2019 at 8:30 a.m. EST to discuss fourth quarter 2018 and fiscal year 2018 results. The call will last approximately one hour. Instructions for the conference call are provided below:

• Live audio webcast: https://ir.thecronosgroup.com/events-presentations
• Toll Free from the U.S. and Canada dial-in: (866) 795-2258
• International dial-in: (409) 937-8902
• Conference ID: 8599026

An audio replay of the call will be archived on the Company’s website for replay.

About Cronos Group
Cronos Group is an innovative global cannabinoid company with international production and distribution across five continents. Cronos Group is committed to building disruptive intellectual property by advancing cannabis research, technology and product development. With a passion to responsibly elevate the consumer experience, Cronos Group is building an iconic brand portfolio. Cronos Group’s portfolio includes Peace Naturals, a global health and wellness platform, and two adult-use brands COVE and Spinach. To learn more about the Cronos Group and its brands, please visit: www.thecronosgroup.com; www.peacenaturals.com; www.covecannabis.ca; www.spinachcannabis.com

Forward-looking statements

This news release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities laws (collectively, “forward-looking statements”), which are based on the Company’s current internal expectations, estimates, projections, assumptions and beliefs. All information contained herein that is not clearly historical in nature may constitute forward-looking statements. In some cases, forward-looking statements can be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “believe”, or other similar words, expressions, phrases, including negative and grammatical variations thereof, or statements that certain events or conditions “may” or “will” happen, or by discussions of strategy. Forward-looking statements include estimates, plans, expectations, opinions, forecasts, projections, targets, guidance or other statements that are not statements of historical fact. Forward-looking statements are provided for the purposes of assisting the reader in understanding our financial performance, financial position and cash flows as at and for periods ended on certain dates and to present information about management’s current expectations and plans relating to the future and the reader is cautioned that such information may not be appropriate for any other purpose. Some of the forward-looking statements contained in this press release, include, but are not limited to, statements with respect to: the anticipated benefits of the Altria Investment, including our ability to scale our product development and commercialization capabilities as a result thereof; the anticipated benefits of our joint ventures, strategic alliances, research and development initiatives and other commercial arrangements, including the ability to produce and distribute the target cannabinoids under our strategic partnership with Ginkgo; the anticipated benefits of the Aurora Acquisition, including the satisfaction of certain specified milestones; our ability to execute on our growth strategy, including the construction of production facilities and the commencement of operations by our joint ventures and the timing thereof; the ability of Cronos Group, our joint ventures, strategic partners and commercial counterparties to obtain all necessary licenses, permits and approvals; our ability to expand our distribution network and global footprint; our business and operations; our strategy for future growth; our intention to build an international iconic brand portfolio and develop disruptive intellectual property; and the growth potential of the cannabis industry and our ability to realize such opportunity. No forward-looking statement can be guaranteed and Cronos Group cannot guarantee the future statements contained herein. Forward-looking statements are based upon certain material assumptions that were applied in drawing a conclusion or making a forecast or projection, including management’s perceptions of historical trends, current conditions and expected future developments, as well as other considerations that are believed to be appropriate in the circumstances. While we consider these assumptions to be reasonable based on information currently available to management, there is no assurance that such expectations will prove to be correct. By their nature, forward-looking statements are 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. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking statements in this press release. Such factors include, without limitation, those discussed in the Company’s management’s discussion and analysis for the year ended December 31, 2018 and the Company’s annual information form for the year ended December 31, 2018, both of which have been filed on the Company’s profile on SEDAR at www.sedar.com and on EDGAR at www.sec.gov. Readers are cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking statements. Forward-looking statements contained herein are made as of the date of this press release and are based on the beliefs, estimates, expectations and opinions of management on the date such forward-looking statements are made. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking statements, except as required by applicable law.

All references in this news release to “dollars”, “C$” or “$” are to Canadian dollars and all references to “US$” are to United States dollars.

For further information, please contact:
Anna Shlimak
Investor Relations
Tel: (416) 504-0004
investor.relations@thecronosgroup.com

TORONTO, March 26, 2019 /CNW/ – Newstrike Brands Ltd. (TSXV:HIP) (the “Company“) today announced financial results for the three months and year ended December 31, 2018. The Company’s wholly-owned subsidiary, UP Cannabis Inc. (“Up Cannabis“), is a licensed producer of cannabis and related products under the Cannabis Act, 2018 (the “Cannabis Act“). The Company’s interim financial statements and management’s discussion and analysis for the three months and year ended December 31, 2018 are available on SEDAR at www.sedar.com.

FOURTH QUARTER ENDED DECEMBER 31, 2018 HIGHLIGHTS

• The Company recognized sales of cannabis to the adult-use and wholesale markets in excess of $5.3 million;
• Gross margins before the fair value adjustment on the sale of this inventory was $2.5 million, or 53.5% of net revenue;
• Between October 9 to 11, 2018, Up Cannabis took over Toronto’s Yonge-Dundas Square for its official ‘Meet Up’ in anticipation of the of legalization of adult-use cannabis. At Yonge-Dundas Square, Up Cannabis educated members of the general public about the responsible use of cannabis through activities including free outdoor yoga classes, live visual art displays, breakdance battles, live recordings of the Into the Weeds Podcast, and free concerts by Canadian artists, including Meghan Patrick and members of The Tragically Hip;
• On November 12, 2018, Health Canada issued an amendment to the Company’s licence, allowing Up Cannabis to sell cannabis produced from its Niagara Facility in dried marihuana form to all authorized persons in accordance with the Cannabis Act;
• On December 11, 2018, the Company completed its acquisition of a minority interest in Neal Brothers Inc. and incorporated a joint venture entity in connection therewith for the development of specialty food products which will be infused, derived or otherwise include cannabis in advance of the contemplated regulatory regime for edibles; and
• On December 12, 2018, the Company received initial purchase orders from PEI Cannabis Management Corporation (“PEICMC”) for adult-use cannabis products.

SUBSEQUENT EVENTS

• On January 8, 2019, the Company announced that it was accepted by the Manitoba Liquor and Lotteries Corporation as an official supplier of adult-use cannabis to that province’s private sector retailers, making it the seventh Canadian province with which the Company has announced supply agreements;
• On February 7, 2019, the Company entered a definitive supply agreement with ZYUS Life Sciences Inc. for the purchase of dried bulk cannabis from Up Cannabis;
• On February 14, 2019, the Company announced that an Up Cannabis “Experiential Hub” would be featured prominently in Ontario’s first Spiritleaf store in Kingston, Ontario, with a targeted opening date of April 1, 2019, to coincide with the proposed launch of cannabis retail stores throughout Ontario; and
• On March 13, 2019, the Company announced its execution of a definitive arrangement agreement with HEXO Corp (TSX: HEXO; NYSE-A: HEXO) (“HEXO”), pursuant to which, subject to customary regulatory, court and shareholder approvals, HEXO will acquire all of the outstanding common shares of Newstrike ; and
• On March 25, 2019 the Company announced that it had entered into a supply agreement with Cannabis New Brunswick, marking Up Cannabis’ eighth retail cannabis provincial market.

SELECTED SUMMARY OF QUARTERLY RESULTS

During the three month period ended December 31, 2018, the Company generated net revenue of $4,652 (December 31, 2017 – $Nil). $2,611 of revenue was from shipments of dried cannabis to the provincial government wholesale distributors in Alberta, British Columbia, Nova Scotia, Ontario and Prince Edward Island for the adult-use market. $2,041 of revenue was from wholesale sales of cannabis.

During the three month period ended December 31, 2018, $2,160 of costs incurred during the production process and capitalized to inventory were expensed upon initial sale of inventory. This resulted in gross margin of $2,492 (53.5% of net revenue) before the fair value adjustment on the sale of this inventory. The expense of $2,219 for the fair value changes in biological assets included in inventory sold represents the amount of non-cash fair value adjustment being realized upon the sale of this inventory.

For the three month period ended December 31, 2018, the Company recognized a gain of $13 (December 31, 2017 – $3,020) related to the fair value adjustments of Biological Assets. This resulted in gross margin for the three month period ended December 31, 2018 of $285 (December 31, 2017 – $3,020). The unrealized gain on fair value changes in biological assets for the three month period ended December 31, 2018 was due to the production of cannabis at both production facilities, offset by the start-up and ramp-up costs in the Niagara Facility. During 2017, the Company valued its biological assets at cost until it received approval on its license amendment to allow for sales of cannabis. Revaluation of the biological assets resulted in an unrealized gain on fair value changes of $3,020 for the three month period ended December 31, 2017.

For the three month period ended December 31, 2018, total expenses were $7,479 (December 31, 2017 – $3,035). The Company’s major expenses incurred during the quarter relate to: selling, general, and admin expense of $2,138; sales, marketing and business development expense of $1,988; wages and benefits of $2,342; consulting and professional fees of $774; and other costs related to share-based compensation, rent and facilities and amortization.

Included in other items is net interest income of $708 offset by accretion and interest expenses of ($11). Other comprehensive loss is comprised of the fair market value change recognized on strategic investments made in other Canadian cannabis businesses in 2018.

The Company recorded a net loss of $6,497 and a net and comprehensive loss of $9,423, or a net loss per share of $0.01.

Adjusted EBITDA loss for the three month period ended December 31, 2018 was $4,367.

STRONG FINANCIAL POSITION

As at December 31, 2018 the Company had total assets of $152,808, including cash and cash equivalents of $96,640, up from total assets of $24,881, including cash and cash equivalents of $811 as at December 31, 2017. The increase is due to the net proceeds from the two bought deal equity offerings, the receipt of a termination fee comprising $9,500 in connection with the termination of an arrangement agreement with CanniMed Therapeutics Inc. on January 24, 2018, and the increase in fair market value of its strategic investments.

As at December 31, 2018, the Company’s inventory of dried cannabis was $2,944 and the fair value of the biological assets was $4,073. It is expected that the biological assets will yield approximately 2,300 kilograms of cannabis.

NIAGARA FACILTY UPDATE

As at the date of this press release, the retrofit of the Niagara Facility has been completed with infrastructure in place to support full run-rate production of 20,000 kg of dried cannabis annually. Cannabis is being cultivated in the new section of the retrofitted greenhouse with several harvests having already taken place. The current budget to complete the retrofit, construction of processing areas and the second greenhouse is $38.2 million, and costs incurred to date are $19.1 million.

As at the date of this press release, the construction of the second greenhouse and headhouse expansion is progressing as planned, with an occupancy permit having already been issued by the municipality for the new headhouse. The second greenhouse has its structure erected, walls and roof installed and is progressing with electrical, heating, ventilation and air conditioning work. Assuming no interruptions in the construction schedule, the completion of the construction of the entire Niagara Facility (including the new processing administration areas and new greenhouse) is expected towards the end of the second quarter of 2019.

Assuming the full ramp up, including the construction of the new greenhouse and processing areas at the Niagara Facility, which is currently in progress, and the continued operational efficacy of the Brantford Facility, the complete potential aggregate annual production for all facilities will be approximately 42,000 kg of dried cannabis. This estimate is subject to change based on realized plant yields experienced.

NON-IFRS FINANCIAL MEASURES

The Company’s “Adjusted EBITDA” is a Non-IFRS metric used by management that does not have any standardized meaning prescribed by IFRS and may not be comparable to similar measures presented by other companies. Management defines the Adjusted EBITDA as the Income (loss) for the period, as reported, before accretion and interest, tax, and adjusted for removing the share-based compensation expense, depreciation and amortization, and the fair value effects of accounting for biological assets and inventories. Management believes “Adjusted EBITDA” is a useful financial metric to assess its operating performance on a cash basis before the impact of non-cash items. A reconciliation of net income to EBITDA is presented below:

About Newstrike and Up Cannabis
Newstrike is the parent company of Up Cannabis Inc., a licensed producer of cannabis that is licensed to both cultivate and sell cannabis in all acceptable forms. Newstrike, through Up Cannabis and together with select strategic partners, including Canada’s iconic musicians The Tragically Hip, is developing a diverse network of high quality cannabis brands. For more information visit www.up.ca or www.newstrike.ca.

Forward-Looking Information
This news release contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Newstrike to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. These forward-looking statements include, but are not limited to, statements relating to Newstrike’s expectations with respect to its performance and achievements including expected sales and construction timeline and completion, production ramp-up, the legalization of new classes of cannabis, the completion of the plan of arrangement contemplated under the Arrangement Agreement. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties.

Actual results could differ materially from those currently anticipated due to a number of factors and risks. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements contained in this news release are made as of the date of this release and, accordingly, are subject to change after such date.

Newstrike does not assume any obligation to update or revise any forward-looking statements, whether written or oral, that may be made from time to time by us or on our behalf, except as required by applicable law.

Neither 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.

SOURCE Newstrike Brands Ltd.

Investor Relations: Telephone: 1 (877) 541-9151, Email: ir@newstrike.ca; Sean Byrne, Chief Financial Officer, Telephone: (905) 844-8866Copyright CNW Group 2019

NEW YORK and TORONTO, March 25, 2019 /PRNewswire/ – iAnthus Capital Holdings, Inc. (“iAnthus” or the “Company”) (CSE: IAN, OTCQX: ITHUF), which owns, operates, and partners with best-in-class regulated cannabis operations across the United States, is pleased to announce today that it has received approval from the Florida Department of Health to sell whole flower smokable product to its Florida patients. iAnthus will source flower from its state-of-the-art 240,000 square foot cultivation facility in Lake Wales, Florida.  iAnthus currently serves Florida’s 246,000 registered patients through delivery and three open dispensaries in West Palm Beach, Brandon, and Lake Worth, and plans to open 17 additional locations in the state in 2019.

Q4 and Full Year 2018 Results Conference Call and Webcast Details 

iAnthus plans to release its audited fourth quarter and full year 2018 financial results on Monday April 1, 2019 after market close. The Company will hold a conference call for financial analysts and investors at 8:30am ET on Tuesday, April 2, 2019 to discuss the Company’s fourth quarter and full year 2018 financial results. The call will be archived and available on iAnthus’ website for replay. Please visit https://www.ianthuscapital.com/investors to access the archived conference call.

Dial-In Number: (888) 231-8191 or international: (647) 427-7450

Webcast: https://event.on24.com/wcc/r/1970056/D6B5590CEDB38FB318157CACA1A00980

A replay of the call will be available for 7 days by dialing: (855) 859-2056 and entering password 6689825.

Additional information about iAnthus may be accessed on the Company’s website at www.ianthuscapital.com  and under the Company’s SEDAR profile at www.sedar.com.

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. iAnthus currently has operations in 11 states, and operates 21 dispensaries (AZ-4, MA-1, MD-3, FL-3, NY-2, CO-1, VT-1 and NM-6 where iAnthus has minority ownership). For more information, visit www.iAnthusCapital.com.

Forward Looking Statements

Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in iAnthus’ periodic filings with Canadian securities regulators. When used in this news release, words such as “will, could, plan, estimate, expect, intend, may, potential, believe, should, our vision” and similar expressions, are forward-looking statements.

Forward-looking statements may include, without limitation, statements including dispensary locations, facility build-outs, and other statements of fact.

Readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this release. iAnthus disclaims any intention or obligation to update or revise such information, except as required by applicable law, and iAnthus does not assume any liability for disclosure relating to any other company mentioned herein.

The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.

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

SOURCE iAnthus Capital Holdings, Inc.

Related Links

https://www.ianthuscapital.com/

VANCOUVER, B.C., March 25, 2019 (GLOBE NEWSWIRE) — AgraFlora Organics International Inc. (“AgraFlora” or the “Company”) (CSE: AGRA) (Frankfurt: PU31) (OTCPK: PUFXF) announced earlier today that it has closed the final two tranches of its $40 million equity participation and earn-in agreement with Delta Organic Cannabis Corp. Investors have been eagerly awaiting the completion of this deal, not only because it represents a landmark achievement for the Company, but also because it means that the Company’s 2.2 million square foot greenhouse facility in Delta, BC, is now officially, and entirely, funded.

AgraFlora owns an effective 50-per-cent economic interest in the Delta, BC greenhouse project that is currently the second largest built cannabis facility in Canada, and the Company is presently in the process of finishing the first phase of retrofitting operations on it. This first phase will include the full preparation of 350,000 square feet of cultivation and post-processing space, and the Company is aiming to have this phase completed by the summer of 2019. The remainder of the greenhouse space will be retrofitted in two subsequent phases, the final of which is scheduled to be completed at the start of 2020.

Beyond simply the finalization of this deal, the completion of this funding means several things for AgraFlora. For one, the Company can now focus its attention and resources on some of the new opportunities it has been pursuing over the last year. For example, AgraFlora announced just last week that it is in a due diligence process with Dixie Brands Inc., an organization whose cannabis-infused products are in high demand throughout the United States. The two companies are investigating how they might partner in penetrating the growing cannabis market in the European Union. AgraFlora has also recently executed a letter of intent with Blox Labs Inc. so that the two might join forces in managing and operating state-of-the-art agricultural greenhouse facilities, and several months ago the Company related to investors that it had, in partnership with Relay Medical Corp, formed Glow Life Technologies, an organization focused on pursuing medical-related technology opportunities in the global cannabis space.

Secondly, the finalization of this deal means that investors can be increasingly confident in the assertion that AgraFlora is on track to potentially become one of the mainstay players in the Canadian cannabis space in terms of its cannabis production capacity. With the completion of all three retrofitting phases at the Delta facility, AgraFlora estimates that, as of 2020, it will be capable of growing 250,000,000 grams of high quality cannabis every single year. Based on the landscape of the current Canadian marketplace, this would make the Delta operation the fourth largest grower in the country on a per gram basis. Despite this, AgraFlora, although not as advanced in terms of the business cycle, persists in having a market capitalization much lower than that of its competitors. For example, as of the time of this release, AgraFlora has a market capitalization of $278,842,211. Tilray Inc., an organization with an estimated 2020 growing capacity 25,000,000 grams lower than that of AgraFlora’s, has a current market capitalization of $6,626,789,577. This same phenomenon exists in the case of Aphria. Aphria has an estimated 2020 growing capacity just two percent greater than that of AgraFlora’s, but they have a current market capitalization that is more than eleven times higher at $3,233,949,098. While production capacity is certainly not the only measure of a company’s potential within the cannabis space, it does play a vital role in an organizations ability to meet the demands of its investors and clients.

AgraFlora now has the infrastructure and the financing they need in order to confidently move towards their goal of being one of the biggest cannabis producers in Canada, and with their multiple new opportunities with companies like Dixie, Blox, and Relay, they are well positioned to become a force within the global cannabis space as well.

About AgraFlora Organics International Inc.

AgraFlora is a growth-oriented and diversified company focused on the international cannabis industry. It owns an indoor cultivation operation in London, Ont., and is a joint venture partner in Propagation Service Canada and its large-scale 2.2-million-square-foot greenhouse complex in Delta, B.C. The company has a successful record of creating shareholder value and is actively pursuing other opportunities within the cannabis industry.

Global Objective Marketing

Do you want the same kind of exposure that AgraFlora is receiving here? Contact Global Objective Marketing and we will produce professionally written press release content for your business and distribute it to any market that you wish to reach. For more information, please visit https://www.globalobjectivemarketing.com/.

This piece was written and distributed by Global Objective Marketing (GOM). All of the information contained within was produced using publicly available information and any opinions about individuals, companies or industries expressed within this release belong solely to GOM. The opinions expressed by GOM should not be considered as complete, accurate, or current investment advice. Any investment decisions made by readers are theirs and theirs alone. To ensure that you are making investment decisions that serve your own best interests, we recommend that you utilize the services of a professional financial planner or advisor. In order to comply with Section 17(b) of the 1933 Securities Act, GOM discloses that it was paid a sum of fifteen hundred dollars CAD to write this content for AgraFlora.

For additional information:
AgraFlora Organics International Inc. 
E: 
T: (800) 783-6056

TORONTO, March 26, 2019 /PRNewswire/ – SOL Global Investments Corp. (“SOL Global” or the “Company“) (CSE: SOL) (OTCQB: SOLCF) (Frankfurt: 9SB) is pleased to announce its investment in leading premium soda-maker Jones Soda Co. (“Jones Soda“) (OTCQB: JSDA).

SOL Global has acquired 3,396,049 common shares of Jones Soda in the open market. SOL Global’s total investment represents approximately 8.19% of the total issued and outstanding common shares of Jones Soda which, based on publicly available information, makes it the company’s largest stockholder. SOL Global has filed a Schedule 13D with the United States Securities and Exchange Commission describing its investment in Jones Soda.

The Seattle-based Jones Soda Co., founded in 1986, is known for its wide variety of flavored craft sodas, made with pure cane sugar and other high-quality ingredients. The company’s most recent product launch, Jones Ginger Beer – as well as two new sugar-free soda flavors – join its core brands including its Jones Soda product line, Jones Carbonated Candy, and Lemoncocco, a premium non-carbonated drink made with high-quality lemon and coconut flavors. Jones Soda is sold in eye-catching glass bottles and cans and in fountains at restaurants and is distributed throughout North America. The company continues to innovate its core brands as demand for healthier sodas that contain high-quality ingredients grows and has also redeveloped the majority of its product line using colors derived from natural sources.

“Jones Soda has an iconic, retro brand in the Soda Bottle and Fountain Beverage sector, and we believe the company’s true value will be recognized by the market as its new offerings gain steam,” said SOL Global Chief Investment Officer Andy DeFrancesco. “It is clear that Jones Soda is committed to being on the front lines of innovative product development, while staying true to their iconic brand.”

SOL Global believes there are numerous operational and strategic opportunities to maximize shareholder value in Jones Soda. SOL Global will review its investment in Jones Soda on a continuing basis and reserves the right to take any action with respect to its investment it deems appropriate, including, but not limited to, purchasing additional common shares of Jones Soda, selling some or all of the common shares that SOL Global holds, or otherwise modifying its investment strategy with regard to Jones Soda.

The Global Non-Alcoholic Beverage Market

The non-alcoholic beverage marketplace is estimated to generate a revenue of approximately USD$1.2 trillion by 2023, according to Markets and Research analysis. Companies employing innovative marketing strategies, more flavor choices, and the use of natural, high-quality ingredients will continue to drive market growth in the category.

About SOL Global Investments Corp.

SOL Global is an international investment company with a focus on, but not limited to, cannabis and cannabis related companies in legal U.S. states, the hemp and CBD marketplaces and the emerging European cannabis and hemp marketplaces. Its strategic investments and partnerships across cultivation, distribution and retail complement the company’s R&D program with the University of Miami. It is this comprehensive approach that is positioning SOL Global as a future frontrunner in the United States’ medical cannabis industry.

About Jones Soda Co.

Headquartered in Seattle, Washington, Jones Soda Co.® (OTCQB: JSDA) markets and distributes premium beverages under the Jones® Soda and Lemoncocco® brands. A leader in the premium soda category, Jones Soda is known for its variety of flavors, made with cane sugar and other high-quality ingredients and incorporating always-changing photos sent in from its consumers. The diverse product line of Jones offers something for everyone – pure cane sugar soda, zero-calorie soda and Lemoncocco® non-carbonated premium refreshment. Jones Soda is sold across North America in glass bottles, cans and on fountain through traditional beverage outlets, restaurants and alternative accounts. For more information, visit www.jonessoda.com or www.myjones.com or www.drinklemoncocco.com

Cautionary Statements

This press release contains “forward-looking information” within the meaning of applicable securities laws.  All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as “may”, “will”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “believe” or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions “may” or “will” happen, or by discussions of strategy.

By their nature, forward-looking 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. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking information in this press release. Such factors include, but are not limited to: the Company’s ability to comply with all applicable governmental regulations in a highly regulated business; investing in target companies or projects which have limited or no operating history and are engaged in activities currently considered illegal under US federal laws; changes in laws; limited operating history; reliance on management; requirements for additional financing; competition; inconsistent public opinion and perception regarding the medical-use and adult-use marijuana industry; and regulatory or political change. Additional risk factors can also be found in the Company’s current MD&A and annual information form, both of which have been filed on SEDAR and can be accessed at www.sedar.com.

Readers are cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking information. The forward-looking information contained herein is made as of the date of this press release and is based on the beliefs, estimates, expectations and opinions of management on the date such forward-looking information is made. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.

MONTREAL, March 26, 2019 /PRNewswire/ – Cannara Biotech Inc. (“Cannara” or the “Company”) (CSE: LOVE) (FRA: 8CB), an emerging vertically integrated cannabis company focused on cultivation and cannabis-infused products, today announced its subsidiary Global shopCBD.com Inc. (“shopCBD.com“) has closed private rounds of financing for aggregate proceeds of $8,865,849.15 (the “Offering“).  Cannara remains the majority shareholder of the U.S. based online e-commerce platform with an approximately 61% ownership position.

“As the hemp CBD consumer markets continue to evolve, what is increasingly clear is the health and wellness segment is becoming more prominent,” said Zohar Krivorot, President and CEO of Global shopCBD.com. “The high level of investor interest in participating in shopCBD.com underscores the potential of both CBD products overall and moreover, a best-in-class online platform to serve this market.”

With the recent passing of the 2018 Farm Bill in the U.S., CBD represents a developing sector with many vendors seeking national reach to U.S. customers. ShopCBD.com’s strategy is to offer a wide variety of products from leading CBD brands, with competitive pricing and delivery times across the U.S. The rise in popularity for CBD products is driven by consumers seeking natural-based health & wellness solutions to treat various ailments from inflammation, anxiety to insomnia amongst many others. As a result, the hemp-derived CBD market has been estimated to reach US $22 billion by 2022.

Insiders of the Company have subscribed for approximately 21% of the outstanding share capital of shopCBD.com, accordingly such subscription was a “related party transaction” as defined under Multilateral Instrument 61-101 (“MI 61-101“).  ShopCBD.com intends to rely on the exemptions from the requirements of MI 61-101 including that the transaction was exempt from the formal valuation requirements of MI 61-101 as none of the securities of shopCBD.com are listed on a prescribed stock exchange.

About Cannara Biotech Inc.

Cannara Biotech is building one of the largest indoor cannabis cultivation facilities (625,000 square feet) in Canada and the largest in Quebec. Leveraging Quebec’s low electricity costs, Cannara Biotech’s facility is expected to produce high-grade indoor cannabis and cannabis-infused products for the Canadian and international markets. Global shopCBD.com, a subsidiary of Cannara Biotech, has entered the U.S. CBD-hemp market with an online e-commerce platform called ShopCBD.com, which will act as an aggregator and reseller of U.S. CBD-hemp product in the U.S.

For more information concerning Cannara Biotech, visit our website: www.cannara.ca

The CSE does not accept responsibility for the adequacy or accuracy of this release.

Cautionary Statement Regarding “Forward-Looking” Information

This information release contains certain forward-looking information. Such information involves known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by statements herein, and therefore these statements should not be read as guarantees of future performance or results. All forward-looking statements are based on the Company’s current beliefs as well as assumptions made by and information currently available to it as well as other factors. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Due to risks and uncertainties, including the risks and uncertainties identified by the Company in its public securities filings, actual events may differ materially from current expectations. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE Cannara Biotech Inc.

Related Links

http://cannara.ca/

TORONTO, March 26, 2019 /CNW/ — Resolve Digital (“Resolve” or the “Company”), a Canada-based developer of intelligent cannabis solutions and innovative technologies, today announced the first of its family of smart vaporizers, the Resolve MD, has been approved by Health Canada for a Medical Device License (“MDL”) for cannabis use. This represents the first cannabis-related medical device license issued under Canada’s new regulatory system.

MDL ensures the safety, effectiveness and quality of medical devices in Canada by a combination of pre-market review, post-approval surveillance and quality systems in the manufacturing process. By receiving its license, the Resolve MD demonstrates it is fully compliant with Health Canada’s Medical Device Regulations, including satisfying medical device, biological and electrical standards throughout the design and manufacturing of the device.

Through this process Resolve satisfied the strict regulatory standards set by Health Canada to obtain a Medical Device Establishment License (“MDEL”). MDEL provides Health Canada approval for Resolve to distribute the Resolve MD for medical purposes. It is separate from MDL and is issued for the purpose of importing and selling medical devices for human use in Canada. The MDEL is issued by the Inspectorate after the establishment has met all the regulatory requirements required for a medical device license.

“For physicians and cannabis patients to be more comfortable with using medical cannabis, there’s a need to make dosing easier and more transparent,” said Dr. Amol Deshpande, a member of Resolve’s Scientific Advisory Board. “Licensed medical devices, such as Resolve’s medical vaporizer, are focused on filling the void for consistent and standardized inhalational dosing for the medical cannabis industry.”

The first of a family of medical cannabis vaporizers that are anticipated to be licensed by Health Canada, the Resolve MD is a smart vaporizer that assists the patient in taking control of their healthcare, utilizing technology that ensures consistent dosing and a professional experience. To make usage of Resolve MD as easy as possible for the patient, the Company is partnering with licensed producers to pre-fill proprietary pods with pre-selected cannabis formulations that are then simply inserted into the device. Beyond devices, Resolve is also developing an app that assists patients in capturing data on medical conditions, prescriptions, family history, lifestyle, and effectiveness per dose, then utilizes those data points to improve the medical cannabis treatment experience for patients and caregivers.

“We’re excited that our family of Resolve devices will be soon available to medical cannabis patients in Canada, and approval from Health Canada for the Resolve MD is a crucial step in providing alternative pathways for patients and health care providers in the treatment of a variety of medical conditions with consistency in dosing,” said Rob Adelson, CEO of Resolve. “Quality control is crucial for any medical device, and we’re pleased that Health Canada has certified that our device meets their high standards.”

Building on this approval by Health Canada, Resolve intends to obtain similar certifications elsewhere in the world starting later this year.  In particular, the Company is especially interested in the European market, which a recent report launched at the Davos World Economic Forum indicated could be the world’s largest medical cannabis market within 5 years. (The European Cannabis Report, 4th Edition.  Prohibition Partners. January 2019).

For more information, please visit  www.resolvedigitalhealth.com

About Resolve Digital Health

Resolve Digital is positioned to be the leading provider of cannabis-related business solutions and technologies for the health and wellness markets. The company’s cloud-based health information platform, apps and family of innovative devices with metered dosing address the numerous issues with currently available methods of cannabis delivery – establishing a data-driven standard of care for the cannabis industry. Now, after over three years of research and development, the company’s complete product ecosystem will be available in Canada in 2019.

SOURCE Resolve Digital Health

For further information: Jennifer Bender, Resolve Digital Health Inc., 1.888.329.6560 x 224, info@resolvedigitalhealth.com, http://www.resolvedigitalhealth.com

Related Links

http://www.resolvedigitalhealth.com

TORONTO, March 25, 2019 (GLOBE NEWSWIRE) — Canopy Rivers Inc. (“Canopy Rivers” or the “Company”) (TSXV: RIV) congratulates Canopy Growth Corporation (TSX: WEED) (NYSE: CGC) (“Canopy Growth”) and its portfolio company, Spot Therapeutics Inc. (“Spot”), on receiving a cultivation license from Health Canada for its Fredericton-based production and distribution facility. The newly licensed facility will operate under the flagship Tweed banner and is another important pillar in the Canopy family of companies’ commitment to establishing a local presence, engaging local trades, and creating economic opportunities within the provinces and communities the companies serve.

In 2017, Canopy Growth solidified its expansion strategy in Atlantic Canada when it acquired Spot and made significant local funding commitments in collaboration with Canopy Rivers, ultimately resulting in Canopy Growth being rewarded with one of the first provincial supply contracts in the cannabis industry, pursuant to a landmark MOU with the government of New Brunswick.

Canopy Rivers purchased the production facility at that time and entered into a long-term lease with Canopy Growth with respect to the facility, and also provided a significant capital commitment for the development of the New Brunswick-based project via a repayable debenture. The receipt of Spot’s cultivation license represents a triggering event under the debenture and initiates a long-term cash flow stream that is anticipated to be approximately $2.85 million per year, with a 25-year term. Commencement of the cash flow stream is expected to begin in September 2019.

“The long-term income stream from Spot, combined with our existing royalty portfolio, will further stabilize Canopy Rivers’ operating cash flow profile and provide us with additional financial resources to deploy as we continue to make investments in industry verticals we believe offer long-term strategic value for our portfolio partners and shareholders,” said Eddie Lucarelli, CFO of Canopy Rivers.

For more information regarding the Company’s investment in Spot, please refer to the joint management information circular of Canopy Rivers Corporation and the Company dated August 8, 2018, filed with Canadian securities regulators and available on the Company’s profile on SEDAR at www.sedar.com.

About Canopy Rivers:

Canopy Rivers is a unique investment and operating platform structured to pursue investment opportunities in the emerging global cannabis sector. Canopy Rivers works collaboratively with Canopy Growth (TSX: WEED, NYSE: CGC) to identify strategic counterparties seeking financial and/or operating support. Canopy Rivers has developed an investment ecosystem of complementary cannabis operating companies that represent various segments of the value chain across the emerging cannabis sector. As the portfolio continues to develop, constituents will be provided with opportunities to work with Canopy Growth and collaborate among themselves, which Canopy Rivers believes will maximize value for its shareholders and foster an environment of innovation, synergy and value creation for the entire ecosystem.

Forward-Looking Statements

This news release contains statements which constitute “forward-looking information” within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of Canopy Rivers with respect to future business activities and operating performance. Forward-looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions and includes information regarding: the operation of the Spot facility under the Tweed banner; the size and expected start date of the cash flow stream; the long-term strategic value of Canopy Rivers’ investments; and other expectations for other economic, business, and/or competitive factors.

Investors are cautioned that forward-looking information is not based on historical facts but instead reflects management’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although Canopy Rivers believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of Canopy Rivers. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: regulatory and licensing risks; the ability to cultivate and sell cannabis products; changes in general economic, business and political conditions, including changes in the financial markets; the global regulatory landscape and enforcement related to cannabis, including political risks and risks relating to regulatory change; risks relating to anti-money laundering laws; compliance with extensive government regulation; public opinion and perception of the cannabis industry; and the risk factors set out in Canopy Rivers’ final short form prospectus dated February 21, 2019, filed with Canadian securities regulators and available on Canopy Rivers’ profile on SEDAR at www.sedar.com.

Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although Canopy Rivers has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. Canopy Rivers does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.

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.

For further information, please contact:

CHICAGO & LANSING, Mich.–(BUSINESS WIRE)– Cresco Labs Inc. (“Cresco Labs” or the “Company”) (CSE: CL) (OTCQX: CRLBF), one of the largest vertically integrated multistate cannabis operators in the United States, today announced that it has completed the most comprehensive portion of Michigan’s application process, being pre-qualified for a cultivation and processing license by the Department of Licensing and Regulatory Affairs Medical Marihuana Licensing Board. The pre-qualification represents the authorization of the entity to move forward with the licensing process for its intended facilities.

“We continue to execute well on our expansion strategy and leverage our professional, proven approach to win access to new markets,” said Cresco Labs CEO and Co-founder Charlie Bachtell. “Entering Michigan will add another large market opportunity to our growing footprint and increase our total addressable consumer base to more than 150 million people. Michigan is one of the largest medical cannabis markets in the country with an estimated patient population of nearly 300,000 patients and is steadily moving towards implementation of an adult-use program. Pre-qualification is the most significant regulatory hurdle in the Michigan licensing process. We expect to replicate the process that has enabled us to quickly and efficiently get operational in other markets and begin making our full suite of brands available to patients wanting to experience the positive medicinal benefits of cannabis.”

Cresco Labs has applied for a cultivation and processing facility to be located in a former 100,000+ square foot factory in Marshall, Michigan. The Company has been granted conditional local approval to build and operate the facility pending final approval of its state facility license application.

Michigan Market:

Michigan is the 10^th largest state in the country with a population of nearly 10 million people and more nearly 300,000 registered patients in the state’s medical cannabis program. According to Arcview Market Research/BDS Analytics, the total cannabis market in Michigan – including both medical spending and future legalized adult-use spending – is projected to increase to nearly $1.4 billion by 2022 from $869 million in 2018.

Cresco Labs Footprint:

Upon the receipt of licensure in Michigan and the closing of the Company’s pending acquisition in Florida, Cresco Labs will have 15 production facilities, 21 operational retail dispensaries and licenses to operate a total of 51 retail dispensaries across 11 states – Illinois, Pennsylvania, Ohio, Nevada, California, Arizona, Florida, and Michigan with New York, Maryland and Massachusetts pending regulatory approval. The Company’s products are currently on the shelves of over 250 dispensaries. Cresco Labs will have operations in seven of the ten most populated states in the country with legalized cannabis programs totaling more than 150 million residents, which is nearly 70% of the estimated total addressable US cannabis market.

About Cresco Labs:

Cresco Labs, based in Chicago, is a leading U.S. cannabis company with experienced management, access to capital and a demonstrated growth strategy. As a differentiated grower, processor and retailer of premium cannabis operating in ten states, the company focuses on entering highly regulated markets with outsized demand potential and high barriers to entry. Its impressive speed-to-market gives Cresco a distinct competitive advantage as it replicates its model to expand its national footprint. Cresco’s proven ability to execute is complemented by a cutting-edge brand strategy spearheaded by several of the brightest minds in consumer marketing in the nation. Cresco’s products are tailored to all major consumer segments: everyday cannabis, medicinally focused, connoisseur grade, and chef inspired edibles by James Beard Award-winning pastry chef Mindy Segal. Learn more about Cresco Labs at crescolabs.com.

Forward Looking Statements

This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company’s control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as, ‘may,’ ‘will,’ ‘should,’ ‘could,’ ‘would,’ ‘expects,’ ‘plans,’ ‘anticipates,’ ‘believes,’ ‘estimates,’ ‘projects,’ ‘predicts,’ ‘potential’ or ‘continue’ or the negative of those forms or other comparable terms. The Company’s forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including but not limited to those risks discussed under “Risk Factors” in the company’s CSE Listing Statement filed with SEDAR; and other factors, many of which are beyond the control of the Company. Readers are cautioned that the foregoing list of factors is not exhaustive. Because of these uncertainties, you should not place undue reliance on the Company’s forward-looking statements. No assurances are given as to the future trading price or trading volumes of Cresco’s shares, nor as to the Company’s financial performance in future financial periods. The Company does not intend to update any of these factors or to publicly announce the result of any revisions to any of the Company’s forward-looking statements contained herein, whether as a result of new information, any future event or otherwise. Except as otherwise indicated, this press release speaks as of the date hereof. The distribution of this press release does not imply that there has been no change in the affairs of the Company after the date hereof or create any duty or commitment to update or supplement any information provided in this press release or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20190325005170/en/

Media:
Jason Erkes, Cresco Labs
Chief Communications Officer
press@crescolabs.com

Investors:
Aaron Miles, Cresco Labs
Vice President, Investor Relations
investors@crescolabs.com

For general Cresco Labs inquiries:
312-929-0993
info@crescolabs.com

Source: Cresco Labs Inc.

VANCOUVER, March 25, 2019 /CNW/ – AgraFlora Organics International Inc. (“AgraFlora” or the “Company“) (CSE: AGRA) (Frankfurt: PU31) (OTCPK: PUFXF), a growth oriented and diversified international cannabis company is pleased to announces that, further to its news releases dated September 25, 2018, October 11, 2018, November 19, 2018, December 10, 2018 and February 28, 2019, it has closed a $20 million third and fourth tranches of the $40 million Equity Participation and Earn-In Agreement with Delta Organic Cannabis Corp. (“DOCC“) and issued the third tranche of 44,582,040 common shares (the “Shares“) of the Company at a deemed price of approximately $0.45 per Share.

“The close of the $40 million financing represents another significant milestone met for the company as our 2.2 million square foot greenhouse is officially fully funded,” said Derek Ivany, President and CEO of AgraFlora Organics International Inc. “Our strategy of partnering with leading organizations has led to AgraFlora owning an 50% economic interest in the second largest cannabis greenhouse in Canada. While we remain focused on the three-phase conversion project of the Delta Greenhouse Complex, we will continue to pursue additional opportunities within the domestic and international cannabis markets.”

The Shares are being issued pursuant to the Equity Participation and Earn-In Agreement dated September 25, 2018 as amended on October 11, 2018, November 19, 2018 and March 22, 2019, with Delta Organic Cannabis Corp., a privately held Toronto-based cannabis investment company backed by preeminent leaders in Canadian cannabis enterprise.

With the funding of $40 million, DOCC has earned a 20% economic interest in Propagation Services Canada Inc., AgraFlora retains a 50% economic interest and the Houwelings Group and partners own the remaining 30%.

The Company also announces, further to its news release dated September 14, 2018, it is proceeding with the issuance of 10,000,000 Shares at a deemed price of $0.71 per Share to key personnel, including related parties, who are assisting with Propagation Services Canada and the 2.2 million square foot greenhouse project located in Delta, British Columbia (the “Delta Facility”) which was announced on June 29, 2018.

The Company further announces that, pursuant to a letter of intent dated May 22, 2018, it will be issuing an aggregate of 5,000,000 Shares to Cornelius Houwelings (the “Consultant“) as set out below:

The Company has agreed to issue the Consultant an additional 5,000,000 Shares upon the achievement of the Delta Facility becoming 100% operational in cannabis.

The Company also announces that it is proceeding with the issuance of 281,690 Shares at a deemed price of $0.71 per Share to Vendure Genetics Labs Inc. (the “Supplier“) pursuant to a supply agreement dated December 26, 2018, whereby the Company agreed to purchase certain plants, plant matter and related plant-based products from the Supplier for total consideration of $200,000, payable in Shares.

The Shares are subject to a statutory four-month hold period.

About Delta Organic Cannabis Corp.

DOCC is Canadian focused vertically integrated cannabis company formed by some of the most successful early-movers in the space.

About Propagation Services Canada Inc.

Propagation Services Canada is a joint venture company focused on the cannabis flower and propagation market in Canada. Its Delta Greenhouse Complex covers approximately 2.2 million square feet and is one of the most technologically advanced greenhouses in North America, with an experience staff, full propagation services, advanced HVAC, lighting and water systems and its own 8.8 MW powerplant.

About AgraFlora Organics International Inc.

AgraFlora Organics International Inc. is a growth oriented and diversified company focused on the international cannabis industry. It owns an indoor cultivation operation in London, ON and is a joint venture partner in Propagation Service Canada and its large-scale 2,200,000 sq. ft. greenhouse complex in Delta, BC. The Company has a successful record of creating shareholder value and is actively pursuing other opportunities within the cannabis industry. For more information please visit: www.agraflora.com.

ON BEHALF OF THE BOARD OF DIRECTORS

Derek Ivany
President & CEO

No stock exchange or securities regulatory authority has reviewed or accepted responsibility for the adequacy or accuracy of this release.

Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Issuer’s future plans, objectives or goals, including words to the effect that the Issuer or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties.

SOURCE AgraFlora Organics International Inc.

For further information: AgraFlora Organics International Inc., Tim McNulty, E: ir@agraflora.com, T: (800) 783-6056; For French inquiries: Remy Scalabrini, Maricom Inc., E: rs@maricom.ca, T: (888) 585-MARI

CALGARY, March 22, 2019 /CNW/ – Inner Spirit Holdings Ltd. (“Inner Spirit” or the “Company”) (CSE:ISH) today announced Daniel Telio, one of the initial 25 retail cannabis lottery winners in Ontario as selected by the Alcohol and Gaming Commission of Ontario (“AGCO”), has partnered with the Company and its wholly owned subsidiary, Spirit Leaf Inc. (“Spirit Leaf”), and has been granted an operating licence for a retail cannabis store in Kingston, Ontario. The partnership between Spirit Leaf and Mr. Telio is through a brand licensing arrangement approved by AGCO.

“We’re very pleased our Spiritleaf store will be one of the first to open in the province and that it’s happening in the heart of Kingston on Princess Street. We have a strong connection to Kingston as we support the Gord Downie and Chanie Wenjack Fund to promote reconciliation efforts in the country and have an ongoing relationship with Newstrike Brands and Up Cannabis, which partners with The Tragically Hip. The opportunity to place Spiritleaf stores in key locations like this across the country will grow our brand and drive business growth,” said Darren Bondar, President and CEO of Inner Spirit.

The Company, through Spirit Leaf, has 20 franchise agreements in place for the Ontario market in anticipation of the Government of Ontario’s plans to issue additional retail licences starting in December 2019. The Company intends to open, or license to others the right to open, up to the maximum 75 stores allowable under current provincial government guidelines.

The Company has five Spiritleaf retail franchise stores open and operating in Alberta and Saskatchewan. Spiritleaf franchise partners are preparing to open additional locations across the country, subject to gaining final municipal and provincial approvals. Spiritleaf corporate outlets are also being prepared for openings across Alberta.

About Inner Spirit

Inner Spirit is establishing a chain of recreational cannabis stores under its Spiritleaf brand. Supporting local entrepreneurs by applying its award-winning franchise and retail models, Inner Spirit has more than 100 franchise agreements in place for potential Spiritleaf locations and also plans to operate corporate outlets in certain jurisdictions. Developing a diverse portfolio of quality and curated lifestyle cannabis products – including Spiritleaf’s own locally sourced lines – Spiritleaf is positioned to be an iconic Canadian brand and the most trusted source for recreational cannabis. More information can be found on Inner Spirit’s website at www.innerspiritholdings.com.

Forward-looking statements

This press release contains statements and information that, to the extent that they are not historical fact, may constitute “forward-looking information” within the meaning of applicable securities legislation. Forward-looking information may include financial and other projections, as well as statements regarding future plans, objectives or economic performance, or the assumption underlying any of the foregoing. In some cases, forward-looking statements can be identified by terms such as “may”, “would”, “could”, “will”, “likely”, “except”, “anticipate”, “believe”, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook”, “potential”, or the negative thereof or other similar expressions concerning matters that are not historical facts. Examples of such statements include, but are not limited to, statements with respect to the objectives and business plans of the Company; the establishment of recreational cannabis stores in Canada; the receipt of necessary licenses and permits to open recreational cannabis stores and the timing thereof; the opening of a Spiritleaf retail cannabis store in Kingston, Ontario; the issuance of additional retail cannabis licenses by the Government of Ontario starting in December 2019; the intention of the Company to open, or license others the right to open, Spiritleaf retail cannabis stores in Ontario; the opening of Spiritleaf-branded franchise and corporate retail cannabis stores in Alberta, Saskatchewan and British Columbia; and the intention to grow the Company’s business and operations. Actual results could differ materially from those currently anticipated due to a number of factors and risks, including but not limited to, the risk that additional stores may not open due to national retail cannabis supply issues; the risk that the Spiritleaf recreational cannabis store intended to be opened in Kingston, Ontario does not open as anticipated or at all; the risk that the Company or its franchisees are not able to open additional retail cannabis stores in Canada or in Ontario; and other factors outside of the Company’s control. Readers are cautioned that the foregoing list of factors and risks is not exhaustive. Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Since forward-looking information addresses future events and conditions, by its very nature they involve inherent risks and uncertainties. The Company’s actual results, performance or achievements could differ materially from those expressed in, or implied by, the forward-looking information and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits the Company will derive therefrom. The forward-looking statements included in this news release are made as of the date of this news release and the Company does not undertake an obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless required by applicable securities legislation.

SOURCE Inner Spirit Holdings

For further information: Investor Relations, Email: invest@spiritleaf.ca, Phone: 1 (403) 930-9300, www.innerspiritholdings.com

TORONTO, March 25, 2019 /CNW/ – Liberty Health Sciences Inc. (CSE: LHS) (OTCQX: LHSIF) www.libertyhealthsciences.com (“Liberty” or the “Company”), a provider of high quality cannabis, announced today that it has received Florida Department of Health (DOH) approval to sell whole flower smokable products to patients in Florida, making it one of the first companies in the state to provide smokable medical marijuana in all of its dispensaries. The Company is awaiting DOH approval to provide pre-rolls to patients.

Patients who receive medical marijuana from their doctor will now be able to smoke the substance legally under a bill (SB 182) signed into law last week by Governor Ron DeSantis revoking a ban on smoking medical marijuana. More than 70 percent of voters approved a ballot measure in 2016 legalizing marijuana for medical use, but the Florida Legislature passed a bill a year later that banned it in smokable forms. The new law provides patients the ability to access medicine in the form their doctor determines best for them, whether it’s smoking medical marijuana or utilizing other delivery systems.

“This is truly a historic moment not only for Liberty Health Sciences but for the State of Florida,” said Victor E. Mancebo, interim Chief Executive Officer of Liberty. “Receiving DOH approval – the same week that Governor DeSantis signed SB 182 allowing patients registered under the Department of Health to smoke medical marijuana – is monumental for Liberty and its ability to offer patients an additional medicinal option. Patients in Florida have been eager for this bill to pass as there is a fundamental need for this medicine in all of its forms.”

The new law aligns with Liberty’s long-term strategy as the Company continues to expand across the state. “We are excited to provide flower-derived products to our patients as we continue to educate the Florida community on the benefits of medicinal cannabis and how the DOH has provided safety measures to properly dispense medicinal cannabis related products,” said Mancebo.

According to a survey from MJ Freeway and New Frontier Data, flowers are still the most popular way to consume cannabis with minimal processing. States that allow flower in their medical marijuana program see an increase in patients, and as flower is made available, the patient count in Florida is expected to grow more quickly. By the year 2020, Statista, a leading provider of market and consumer data, reports that medical marijuana sales in the U.S. is expected to reach between 4.9 and 6.1 billion dollars.

Today, Liberty operates 12 dispensaries in the following cities across Florida: Dania Beach, Miami, Palm Harbor, St. Petersburg, Tampa (Hyde Park), Winter Haven, Merritt Island, North Miami, Port St. Lucie, Summerfield, Orange Park, and Gainesville. Patients can place an order online that will be ready for in-store pick-up or enjoy same-day free delivery.

About Liberty Health Sciences Inc.
Liberty is the cannabis provider committed to providing a trusted, high quality cannabis experience based on our genuine care for all cannabis users and a focus on operational excellence from seed to sale. Liberty’s measured approach to expansion opportunities is focused on maximizing returns to shareholders, while keeping consumers’ well-being at the forefront of what we do. For more information, please visit: www.libertyhealthsciences.com.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press release contains certain forward-looking statements within the meaning of applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expect”, “believe”, “plan”, “intend” or the negative of these terms and similar expressions. Forward-looking statements in this news release include, but are not limited to, expectations related to the Company’s production capabilities, expectations concerning the receipt of all necessary approvals from the Florida Department of Health, expectations concerning the opening of new dispensaries and the expansion of its greenhouse space, and the Company’s future expansion and growth strategies. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; marketing costs; loss of markets; future legislative and regulatory developments involving medical marijuana; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; the medical marijuana industry in the United States generally, income tax and regulatory matters; the ability of Liberty to implement its business strategies; competition; crop failure; currency and interest rate fluctuations and other risks. Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

SOURCE Liberty Health Sciences Inc.

For further information: Media Contacts: Dwain Schenck, (203) 223-5230, dwain@schenckstrategies.com; Victor Mancebo, Interim Chief Executive Officer, (386) 462-0141, VMancebo@libertyhealthsciences.com

TORONTO, March 25, 2019 /CNW/ – Newstrike Brands Ltd. (TSX-V:HIP) (“Newstrike” or the “Company“), is pleased to announce that Up Cannabis Inc. (“Up Cannabis”), its wholly-owned subsidiary, has entered into an agreement with Cannabis NB as a licensed producer to supply cannabis.

“We are very excited to announce this partnership with Cannabis NB,” said Jay Wilgar, CEO of both Newstrike and Up Cannabis. “Being among the select group of licensed producers that will supply cannabis to the New Brunswick marketplace is a privilege, and we look forward to helping Cannabis NB achieve its goals of providing safe, reliable product to adult-use consumers.”

With this announcement, Up Cannabis becomes one of only eight Licensed Producers that currently supplies Cannabis NB.

New Brunswick also marks the eighth Canadian province with which Up Cannabis has announced distribution. The company has also announced an arrangement with the Manitoba Liquor and Lotteries Corporation as well as the Prince Edward Island Cannabis Management Corporation. The Company has also formalized agreements with the Nova Scotia Liquor Corporation, the Ontario Cannabis Store and the Alberta Gaming, Liquor & Cannabis Commission. The Company has a signed Memorandum of Understanding with the British Columbia Liquor Distribution as well as having been approved as a supplier to the Saskatchewan Liquor & Gaming Authority.

With agreements in place with eight provincial distributors, Up Cannabis continues to operate within an elite group of Licensed Producers. Health Canada has issued licenses to more than 100 entities under the Cannabis Act, and Up Cannabis is one of only nine with provincial agreements in at least eight provinces.

About Newstrike and Up Cannabis

Newstrike is the parent company of Up Cannabis Inc., a licensed producer of cannabis that is licensed to both cultivate and sell cannabis in all acceptable forms. Newstrike, through Up Cannabis and together with select strategic partners, including Canada’s iconic musicians The Tragically Hip, is developing a diverse network of high quality cannabis brands. For more information, visit http://www.up.ca  or http://www.newstrike.ca

Forward-Looking Information

This news release contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Newstrike to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These forward-looking statements include, but are not limited to, statements relating to Newstrike’s expectations with respect to the supply, distribution and sales of cannabis to Cannabis New Brunswick. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties.

Actual results could differ materially from those currently anticipated due to a number of factors and risks. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements contained in this news release are made as of the date of this release and, accordingly, are subject to change after such date.

Newstrike does not assume any obligation to update or revise any forward-looking statements, whether written or oral, that may be made from time to time by us or on our behalf, except as required by applicable law.

Neither 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.

SOURCE Newstrike Brands Ltd.

For further information: Newstrike Investor Relations, 1-877-541-9151, ir@newstrike.ca; Jay Wilgar, CEO, Newstrike, (905) 844-8866

VANCOUVER, British Columbia, March 25, 2019 (GLOBE NEWSWIRE) — via OTC PR WIRE — Choom Holdings Inc. (Choom) (CSE: CHOO) (OTCQB: CHOOF) (“Choom”), an emerging adult and medical use cannabis company that has secured one of the largest national retail networks in Canada, is pleased to announce, following its strategy to become a multi-state operator, that it intends to expand into Florida.  Choom, through its wholly owned US subsidiary, Choom Holdings USA Inc., has signed a letter of intent (“LOI”) to purchase a 95% equity interest in a Florida-based vertically-integrated cannabis applicant (the “FL Company”).

The FL Company is progressing on its Master License application to operate up to 25 retail locations with potential for more as the number of registered patients increase, as well as, a micro-processing and cultivation facility for medical purposes. Upon completing the transaction, Choom will use its medical brand, Clarity Medical Centres, to create a network of branded Medical Marijuana Treatment Centers.  Florida’s medical marijuana program has over 190,000 qualified patients, up from approximately 168,000 at the start of 2019, making it the largest medical marijuana market in the United States.  Florida has recently allowed the use of smokable medical marijuana products, potentially opening the program to a considerably larger audience.

“We are very excited to be expanding into Florida and to bring Choom’s medical brand into that market.  Florida’s medical marijuana program is a very attractive opportunity for us seeing that it allows for vertically-integrated operations and it has been a market we’ve had our sights on for a while now.” states Chris Bogart, President & CEO of Choom. “This investment aligns with our strategy of becoming a multi-state operator in the US and helps us to bolster our growth targets. Florida is home to over 21 million residents and has shown impressive year over year growth on the number of registered patients with a large portion of the market being relatively uncaptured.”

The terms of the LOI are not material.

Say hello to Choom^TM
Choom is an emerging adult use cannabis company whose mission is to establish one of the largest retail networks in Canada and the United States. The Choom brand is inspired by Hawaii’s “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 the original Choom Gang, our brand caters to the Canadian adult use market with the ethos of ‘cultivating good times’. Choom is focused on delivering an elevated customer experience through our curated retail environments, offering a diversity of brands for Canadians across a national retail network.

“Chris Bogart”
President & CEO

Contact: Choom Holdings Inc.

Chris Bogart
President & CEO
T: 604.683.2509
F: 604.683.2506
E: chris@choom.ca

Alex Porporo
Investor Relations
T: 604.683.2509 Ext. 231
F: 604.683.2506
E: alex@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.

There can be no assurance that such forward-looking 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.  All forward-looking information herein is qualified in its entirety by this cautionary statement, and Choom disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.

MINNEAPOLIS, March 25, 2019 /PRNewswire/ — Vireo Health International, Inc. (“Vireo” or the “Company”) (CSE: VREO), America’s leading science-focused, multi-state cannabis company, today announced the acquisition of four entities which together manage the vertically-integrated medical cannabis business of license-holder Arizona Natural Remedies (“ANR”). The acquisition includes a cultivation and processing facility in Amado, a wholesale business that distributes products to third-party dispensaries throughout the state, and a dispensary in Phoenix.

“With today’s acquisition, Vireo expands its business into the Grand Canyon State’s rapidly growing medical cannabis market,” said Chief Executive Officer, Kyle Kingsley, M.D. “ANR is a recognized leader in all-natural, organic, and pesticide-free cultivation and has done a tremendous job of building consumer trust and loyalty at their Phoenix dispensary. We look forward to welcoming ANR team members into the Vireo family and combining their core competencies with our medical, scientific, and manufacturing expertise.”

Arizona is one of the largest medical cannabis markets in the United States. According to the Arizona Department of Health Services, in February 2019, there were 191,683 active qualifying patients enrolled in the state’s medical cannabis program.

This transaction, which was previously disclosed, was financed through a combination of cash and stock and represents Vireo’s first acquisition since it began trading on the Canadian Securities Exchange under the ticker symbol “VREO.” The Company now has more than 300 employees across operations in seven states including Arizona, Maryland, Minnesota, New York, Ohio, Pennsylvania, and Rhode Island.

About Vireo Health International, Inc.

Vireo Health International, Inc. is America’s leading science-focused, multi-state cannabis company. Vireo’s physician-led team of more than 300 employees provides best-in-class cannabis products and customer experience. Vireo cultivates cannabis in environmentally-friendly greenhouses, manufactures pharmaceutical-grade cannabis extracts, and sells its products at both company-owned and third-party dispensaries. The Company currently has operations in seven states including Arizona, Maryland, Minnesota, New York, Ohio, Pennsylvania, and Rhode Island.  For more information about the company, please visit www.vireohealth.com.

Contact Information

Investor Inquiries
Sam Gibbons
Vice President, Investor Relations
samgibbons@vireohealth.com
(612) 314-8995

Media Inquiries
Albe Zakes
Vice President, Corporate Communications
albezakes@vireohealth.com   
(267) 221-4800

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

Forward-Looking Statement Disclosure

This news release contains forward-looking information within the meaning of applicable securities laws, based on current expectations. Generally, any statements that are not historical facts may contain forward-looking information, and forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “look forward to”, “budget” “scheduled”, “estimates”, “forecasts”, “will continue”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or indicates that certain actions, events or results “may”, “could”, “would”, “might” or “will be” taken, “occur” or “be achieved.” Forward looking information may include, without limitation, statements regarding the operations, business, financial condition, expected financial results, performance, prospects, opportunities, priorities, targets, goals, ongoing objectives, milestones, strategies and outlook of Vireo, and includes statements about, among other things, future developments, the future operations, strengths and strategy of the Company. Forward-looking information is provided for the purpose of presenting information about management’s current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. These statements should not be read as guarantees of future performance or results. These statements are based upon certain material factors, assumptions and analyses that were applied in drawing a conclusion or making a forecast or projection, including Vireo’s experience and perceptions of historical trends, current conditions and expected future developments, as well as other factors that are believed to be reasonable in the circumstances.

Examples of the assumptions underlying the forward-looking statements contained herein include, but are not limited to those related to: the achievement of goals, the closing of acquisitions, obtaining of necessary permits and governmental approvals, future market positioning, as well as expectations regarding availability of equipment, skilled labor and services needed for cannabis operations, intellectual property rights,  development, operating or regulatory risks, trends and developments in the cannabis industry, business strategy and outlook, expansion and growth of business and operations, the timing and amount of capital expenditures; future exchange rates; the impact of increasing competition; conditions in general economic and financial markets; access to capital; future operating costs; government regulations, including future legislative and regulatory developments involving medical and recreational marijuana and the timing thereto; receipt of appropriate and necessary licenses in a timely manner; the effects of regulation by governmental agencies; the anticipated changes to laws regarding the recreational use of cannabis; the demand for cannabis products and corresponding forecasted increase in revenues; and the size of the medical marijuana market and the recreational marijuana market.

Although such statements are based on management’s reasonable assumptions at the date such statements are made, there can be no assurance that it will be completed on the terms described above and that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Accordingly, readers should not place undue reliance on the forward-looking information. Vireo assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by applicable law.

By its nature, forward-looking information is subject to risks and uncertainties, and there are a variety of material factors, many of which are beyond the control of the Company and that may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors include, but are not limited to: denial or delayed receipt of all necessary consents and approvals; need for additional capital expenditures; increased costs and timing of operations; unexpected costs associated with environmental liabilities; requirements for additional capital; reduced future prices of cannabis; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the cannabis industry; delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities; title disputes; claims limitations on insurance coverage; risks related to the integration of acquisitions; fluctuations in the spot and forward price of certain commodities (such as diesel fuel and electricity); changes in national and local government legislation, taxation, controls, regulations and political or economic developments in the countries where the Company may carry on business in the future;  liabilities inherent in cannabis operations;  risks relating to medical and recreational cannabis; cultivation, extraction and distribution problems; competition for, among other things, capital, licences and skilled personnel;  risks relating to the timing of legalization of recreational cannabis; changes in laws relating to the cannabis industry; and management’s success in anticipating and managing the foregoing factors.

Kelowna, BC, March 22, 2019 (GLOBE NEWSWIRE) — GTEC Holdings Ltd. (TSX-V:GTEC) (OTCQB:GGTTF) (FRA:1BUP) (“GTEC” or the “Company”) is pleased to provide the following updates on its retail store initiatives, further to its November 7, 2018 press release:

1. GTEC has completed its due diligence of a private British Columbia corporation (“AssetCo”) and is negotiating the terms of the definitive asset purchase agreement with AssetCo (the “Definitive Agreement”). Pursuant to the Definitive Agreement, GreenTec Retail Ventures Inc., a wholly owned subsidiary of GTEC, will acquire the assets of AssetCo, including two retail cannabis locations in Vancouver, BC.
2. GTEC is negotiating the terms of an asset purchase agreement with a society created pursuant to the laws of British Columbia (“SocietyCo”), pursuant to which, GTEC will acquire all the assets of SocietyCo, including a retail cannabis location and cannabis consulting clinic located in Vancouver, BC.

Both acquisitions remain subject to approval from the TSX Venture Exchange.

Tumbleweed Farms Milestone Payment
The Company announces that it has issued $2,250,000 of common shares of GTEC (the “Common Shares”) at a deemed value of approximately $0.60 per share to the Vendors of Tumbleweed Farms, in connection with Tumbleweed Farms’ submission of its Affirmation of Readiness and Video Evidence Package to Health Canada, as previously announced on March 13, 2019. Accordingly, the Company issued 3,759,319 Common Shares.

The Common Shares are subject to a statutory hold period lasting four months and one day from the date of issuance.

About GTEC
GTEC Holdings is a specialized cannabis company dedicated to cultivating ultra-premium quality cannabis in purpose-built indoor facilities.  The company is vertically integrated across all major sectors of the Canadian cannabis industry and is currently licensed by Health Canada for Standard Cultivation, Standard Processing and Analytical testing. The management team is comprised of a diverse skill set sourced from leading global food & beverage and premium alcohol companies. GTEC has completed three cultivation facilities and is currently cultivating and selling cannabis. The Company has two additional facilities coming on stream in the latter half of 2019, which will increase annual capacity from 4,000kg to 14,000kg. GTEC’s retail division is pursuing licensing for over 35 recreational cannabis stores across Western Canada. GTEC’s ultra-premium indoor flower will be marketed and sold under its flagship trademarked brands; BLK MKT, Tenzo, GreenTec, Cognōscente, Treehugger, and FN. The Company is actively pursuing sales and distribution opportunities across all major business channels: medical, recreational, B2B and export. GTEC is a publicly traded corporation, listed on the TSX Venture Exchange, OTCQB Venture Market and Frankfurt Stock Exchange. The Company is headquartered in Kelowna, British Columbia.

To view more about the company or to request our most recent corporate presentation, please visit our website at www.gtec.co

On behalf of the board,
Norton Singhavon
Founder, Chairman & CEO
ns@gtec.co

Michael Blady
Co-Founder & Vice President
mb@gtec.co
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.

The securities of the Company have not been and will not 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 requirement. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:
This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals, where applicable and the state of the capital markets. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company 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 required by law.

For additional information please contact:
GTEC Holdings Ltd.
1-800-351-6358
contact@gtec.co