Category: News

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EDMONTON, Oct. 18, 2019 /CNW/ – Fire & Flower Holdings Corp. (“FFHC”) (TSX: FAF) today announced that its wholly-owned subsidiary, Fire & Flower Inc. (“Fire & Flower” or the “Company”) has closed the transaction previously announced on July 22, 2019 to acquire all of the shares of a licensed retail cannabis operator in Regina, Saskatchewan from Mera Cannabis Corp. (the “Vendor”).

Fire & Flower’s Regina store will re-open on Friday, October 18 at 10:00 am local time and is located at 680 E Victoria Avenue. Fire & Flower welcomes members of the community and local media to attend the grand opening of the location on Friday morning.

“We are very pleased to be opening a Fire & Flower location in the key urban market or Regina and this store continues to strengthen our position within the Saskatchewan market,” shared Trevor Fencott, Fire & Flower’s Chief Executive Officer. “Saskatchewan continues to be a key market for Fire & Flower because of our ability to buy directly and efficiently from licensed producers through our wholesale business, Open Fields Distribution. This province provides a test market for cannabis products through the Hifyre^TM digital cannabis retail and analytics platform.”

In connection with the acquisition, the Vendor has received $1,500,000 in cash and 2,268,191 common shares of FFHC.

About Fire & Flower
Fire & Flower is a leading purpose-built, independent adult-use cannabis retailer poised to capture significant Canadian market share. The Company guides consumers through the complex world of cannabis through education-focused, best-in-class retailing while the Hifyre^TM digital platform connects consumers with cannabis products. The Company’s leadership team combines extensive experience in the cannabis industry with strong capabilities in retail operations.

Fire & Flower Holdings Corp. owns all issued and outstanding shares in Fire & Flower Inc., a licensed cannabis retailer that owns or has interests in cannabis retail store licences in the provinces of Alberta, Saskatchewan, Manitoba and Ontario and the Yukon territory.

Through the strategic investment of Alimentation Couche-Tard Inc. (ATD.A, ATD.B), the Company has set its sights on the global expansion as new cannabis markets emerge.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
This news release contains certain forward-looking information within the meaning of applicable Canadian securities laws (“forward-looking statements”). All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “anticipate”, “achieve”, “could”, “believe”, “plan”, “intend”, “objective”, “continuous”, “ongoing”, “estimate”, “outlook”, “expect”, “project” and similar words, including negatives thereof, suggesting future outcomes or that certain events or conditions “may” or “will” occur. These statements are only predictions.

Forward-looking statements are based on the opinions and estimates of management of FFHC at the date the statements are made based on information then available to FFHC. Various factors and assumptions are applied in drawing conclusions or making the forecasts or projections set out in forward-looking statements. Forward-looking statements are subject to and involve a number of known and unknown risks and uncertainties, many of which are beyond the control of FFHC, which may cause FFHC’s actual performance and results to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Applicable risks and uncertainties include, but are not limited to, risks that the transactions contemplated may be delayed in closing or may not close, regulatory risks relating to issuance, renewal, extension or transfer of cannabis retail store licences and/or municipal development permits, risks relating to obtaining required third party consents, risks relating to the cost and timing of construction, changes in laws, market risks, concentration risks, operating history, competition and the other risks identified under the headings “Risk Factors” in FFHC’s Annual Information Form dated July 29, 2019 and “Risks and Uncertainties” in FFHC’s management discussion and analysis for the thirteen and twenty-six weeks ended August 3, 2019, each as filed on SEDAR at www.sedar.com. Investors are cautioned not to put undue reliance on forward-looking statements. No assurance can be given that the expectations reflected in forward-looking statements will prove to be correct.

FFHC assumes no obligation to publicly update or revise forward-looking statements to reflect new information, future events or otherwise, except as expressly required by applicable law.

SOURCE Fire & Flower Holdings Corp.

For further information: Investor Relations: Chris Bolivar, investorrelations@fireandflower.com, 1-833-680-4948; Media Relations, Nathan Mison, media@fireandflower.com, 780-784-8859

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LAS VEGAS, Oct. 18, 2019 /CNW/ – Planet 13 Holdings Inc. (CSE: PLTH) (OTCQX: PLNHF) (“Planet 13” or the “Company“), a leading vertically-integrated Nevada based cannabis company, announced today that it has received all permits required to open and operate Rickety Cricket Café and Purc Coffee Shop.

“Planet 13 continues to raise the bar for exceptional cannabis experiences.  Planet 13 gives Las Vegas visitors the ability to shop, eat, and recreate all in one luxurious cannabis-themed complex,” said Larry Scheffler, Co-CEO of Planet 13. “The 3,000 plus visitors that walk into the Planet 13 Cannabis Entertainment Complex every day will now have the option to enjoy a coffee, delicious food and walk across the hall to experience the best cannabis dispensary in the world.”

The combined footprint of the coffee shop and bistro/pizzeria is 4,500 square feet able to seat between 130 and 150 patrons. The bistro/pizzeria is operated by award-winning Arizona restaurant and craft brewery chain Rickety Cricket. Rickety Cricket operates three locations in Arizona and has won multiple awards for its pizza, including 2nd place in the world at the International Pizza Expo in Las Vegas.

Rickety Cricket has entered into a multiyear lease and a separate licensing agreement under which they pay a portion of profit to Planet 13.

About Planet 13
Planet 13 (www.planet13holdings.com) is a vertically integrated cannabis company based in Nevada, with award-winning cultivation, production and dispensary operations in Las Vegas – the entertainment capital of the world. Planet 13’s mission is to build a recognizable global brand known for world-class dispensary operations and a creator of innovative cannabis products. Planet 13’s shares trade on the Canadian Stock Exchange (CSE) under the symbol PLTH and OTCQX under the symbol PLNHF.

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 of 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 to, among other things, future expansion plans.

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: final regulatory and other approvals or consents; fluctuations in general macroeconomic conditions; fluctuations in securities markets; expectations regarding the size of the Nevada 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 the State of Nevada; 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.

The Company is indirectly involved in the manufacture, possession, use, sale and distribution of cannabis in the recreational and medicinal cannabis marketplace in the United States through its subsidiary MMDC. Local state laws where MMDC operates permit such activities however, these activities are currently illegal under United States federal law. Additional information regarding this and other risks and uncertainties relating to the Company’s business are contained under the heading “Risk Factors” in the Company’s annual information form dated April 30, 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.

SOURCE Planet 13 Holdings Inc.

For further information: For further inquiries, please contact: LodeRock Advisors Inc., Planet 13 Investor Relations, mark.kuindersma@loderockadvisors.com, (416) 519-2156 ext. 2230; Robert Groesbeck or Larry Scheffler, Co-Chief Executive Officers, ir@planet13lasvegas.com

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TORONTO, Oct. 18, 2019 /CNW/ – Avicanna Inc. (“Avicanna” or the “Company“) (TSX: AVCN) (OTCQX: AVCNF), a biopharmaceutical company focused on the development, manufacturing and commercialization of organic and sustainable plant-derived cannabinoid-based products, is pleased to announce that Santa Marta Golden Hemp S.A.S. (“SMGH“), a majority owned subsidiary of the Company, has obtained a United States Department of Agriculture (“USDA“) National Organic Program (“NOP“) certification from Control Union Certifications, for its hemp cultivar, and has obtained registration for an additional 15 genetic strains of cannabis.

USDA Organic Certification

Receipt of a NOP certification from the USDA for the cultivation of hemp (non-psychoactive cannabis) makes SMGH the first producer to receive this certification in Colombia. As a result, SMGH’s organic cultivation practices are now validated by the USDA, which positions the Company to provide certified organic hemp derivatives for use in supplements and food products produced or shipped to the United States. The USDA protects consumers by allowing certified growers to use the USDA organic logo on products that are grown without the use of synthetic fertilizers, pesticides or herbicides. Any products intended for medical purposes coming from this organic cultivated hemp are outside of the scope of this certificate and cannot be commercialized as “organic”.

Aras Azadian, the Company’s Chief Executive Officer, stated, “Receiving the USDA NOP certification marks a significant milestone in our commitment to help set the highest quality standards in organic and sustainable cannabis cultivation, as we take another step forward towards becoming a global leader in the CBD industry. We expect this achievement to facilitate our growth strategy, which includes the expansion of both our plant-derived active pharmaceutical ingredients (“APIs“) and bulk CBD formulations, as well as our branded lines of finished derma-cosmetics and phyto-therapeutic products into the U.S. and European markets where the USDA certification is a premium differentiator for those product categories that allow hemp to be certified as organic.”

About Organic Cultivation

Dedicated to environmental preservation, SMGH will cultivate 100% sun-grown USDA certified organic hemp. Implementing Good Agricultural and Collection Practices and promoting a living soil system, SMGH’s plants will grow healthy. The use of chemical pesticides and herbicides is harmful for the consumer, the plant, and mostly the environment. Plants grown under the pressure of conventional practices don’t develop to produce their full potential of nutrients and benefits. Chemicals used in conventional agriculture are responsible for poisoning water sources, damaging the soil and diminishing its ability to sequester carbon dioxide which is a major cause for global warming. SMGH strives to maintain its soils free from synthetic compounds as a compromise to our planet.

Registration of Additional Genetics

On October 18, 2019, Avicanna received confirmation that SMGH has obtained registrations for 11 strains of psychoactive cannabis and 4 strains of non-psychoactive cannabis. Following such registration, SMGH has a total of 14 registered strains of psychoactive cannabis and 5 registered strains of non-psychoactive cannabis. SMGH, can commence production of products containing each strain of non-psychoactive cannabis that has been registered and, upon receipt of a quota with respect to each registered psychoactive strain, SMGH will be able to commence production of products containing each strain of its registered psychoactive cannabis strains. In addition, such registration enables SMGH to market seeds of such registered genetics and export propagation material (upon receipt of necessary approvals).

“Achieving this additional registration not only expands Avicanna’s genetic bank for commercial purposes but also reflects our commitment to work with a wide range of varieties that provide a new range of cannabinoids for our research and development projects. This registration will also enhance our capacity to continue improving and stabilizing high performance genetics as part of our breeding program,” said Avicanna’s Chief Agricultural Officer, Lucas Nosiglia.

About Avicanna

Avicanna is an Ontario corporation focused on the development, manufacturing and commercialization of plant-derived cannabinoid-based products through its two main business segments, cultivation and research and development.

Avicanna’s two majority-owned subsidiaries, Sativa Nativa S.A.S. and Santa Marta Golden Hemp S.A.S., both located in Santa Marta, Colombia are the base for Avicanna’s cultivation activities. These two companies are licensed to cultivate and process cannabis for the production of cannabis extracts and purified cannabinoids including cannabidiol (CBD) and tetrahydrocannabinol (THC).

Avicanna’s research and development business is primarily conducted out of Canada at its headquarters in the Johnson & Johnson Innovation Centre, JLABS @ Toronto. Avicanna’s scientific team develops products, and Avicanna has also engaged the services of researchers at the Leslie Dan Faculty of Pharmacy at the University of Toronto for the purpose of optimizing and improving upon its products.

Avicanna’s research and development and cultivation activities are focused on the development of its key products, including plant-derived cannabinoid pharmaceuticals, phyto-therapeutics, derma-cosmetics and Extracts (defined as plant-derived cannabinoid extracts and purified cannabinoids, including distillates and isolates), with a goal of eventually having these products manufactured and distributed through various markets.

Stay Connected

For more information about Avicanna, visit www.avicanna.com, call 1-647-243-5283, or contact Setu Purohit, President by email info@avicanna.com.

Cautionary Note Regarding Forward-Looking Information and Statements

Certain information in this press release contains forward-looking statements. Such statements include but are not limited to the ability of the Company to use its organic hemp in supplements and food products, the expectation that the receipt of the NOP certification will allow the Company to accelerate growth, that SMGH will cultivate 100% sun-grown USDA organic hemp and that SMGH will be able to commence production of its registered psychoactive strains of cannabis. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict, including the risk factors set out under the heading “Risk Factors” in the Company’s long form final prospectus dated July 8, 2019. Actual results might differ materially from results suggested in any forward-looking statements. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements, unless and until required by securities laws applicable to the Company.

SOURCE Avicanna Inc.

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TORONTO, Oct. 18, 2019 /CNW/ – Cannabis Growth Opportunity Corporation (“CGOC“, or the “Company“) (CSE: CGOC), a cannabis-focused investment corporation with both public and private cannabis holdings, announces the company’s updated net asset value per common share (“NAV“) of $2.60 at the close of business on October 15, 2019. This represents growth of 12% since the Initial Public Offering (“IPO“), on January 26, 2018, and a decrease of 6% year to date.

CGOC is invested in companies operating in Canada, the U.S., Europe, Latin America, Jamaica and Israel, with an investment split across the private and public portfolios of 40% and 60% respectively. CGOC’s top ten public investments as of October 15, 2019 (in alphabetical order) are: Bhang Inc (CSE: BHNG), Grassroots Cannabis, (not yet listed), Heritage Cannabis (CSE: CANN), Jushi Holdings Inc. (NEO: JUSH.B), LPF Investment Corp. (“Loudpack”, not yet listed) Next Green Wave (CSE: NGW), Planet 13 Holdings Inc. (CSE: PLTH), TerrAscend Corp. (CSE: TER), and Vireo Health Inc. (CSE: VREO).

Jamie Blundell, President and Chief Operating Officer of CGOC commented, “CGOC realized a loss of 9% over last month compared to the North American Marijuana Index, which realized a 23% loss. Since CGOC’s IPO, our NAV has grown by 12% compared to the NAMMAR, as well as a number of other market indices which declined by an average of 60% in the same time period.

“The private portfolio has contributed positively to the overall portfolio performance. We believe the ability to continue to invest in and even increase our investments into pre-IPO companies outside of Canada should remain a focus.”

About CGOC
CGOC is an investment corporation that offers unique global exposure to the emerging global cannabis sector. CGOC’s main objective is to provide shareholders long-term total return through its actively managed portfolio of securities, both public and private, operating in, or that derive a portion of their revenue or earnings from products or services related to the cannabis industry.

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Non-IFRS Measures
NAV is a non-IFRS (international financial reporting standards) measure and was calculated based on the estimated value of CGOC’s investments less its liabilities, divided by the number of common shares outstanding. The term NAV does not have any standardized meaning according to IFRS and therefore may not be comparable to similar measures presented by other companies. Management believes that NAV can provide information useful to its shareholders in understanding its performance and may assist in the evaluation of its business relative to its peers.

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

SOURCE Cannabis Growth Opportunity Corporation

For further information: For further information please contact Cannabis Growth Opportunity Corporation: Jamie Blundell, President & COO, Tel: (647) 946-2462, Website: www.cgocorp.com, Investor Relations Email: info@cgocorp.com

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SMITHS FALLS, ON, Oct. 18, 2019 /CNW/ – Canopy Growth Corporation (“Canopy Growth” or the “Company”) (TSX: WEED) (NYSE: CGC) is pleased to launch its 27^th retail location and introduce customers in Brandon, Manitoba to its second location, conveniently located in Brandon’s Corral Centre.

“Retail presence is a key driver of brand recognition in a competitive market,” said Rade Kovacevic, President, Canopy Growth. “With twenty-seven locations already open and many more in the works we are confident we’re establishing a national presence that can pay dividends for years to come.”

The province of Manitoba has effectively rolled out their retail strategy and has ensured that the brands Canadians know and trust are easily accessible within each community. As we have seen, having physical retail locations has proven to be the most effective way to build brand loyalty by creating reliable educational hubs, supplied with high-quality, regulated products.

Tokyo Smoke, Canada’s award-winning and design-focused cannabis retailer is now present across two provinces, while Canopy’s second retail banner, Tweed, is located across four provinces. With 27 retail stores either owned or licensed, Canopy’s retail banners represent the 4^th largest cannabis retail network in Canada.

The Tokyo Smoke store team looks forward to meeting its neighbours and creating a hub for adult recreational cannabis education and culture. The company is committed to building on its retail presence to drive brand awareness and continue to offer consumers convenient access to quality cannabis products, while combatting the black market through an effective retail structure.

Here’s to Future (retail) Growth.

About Canopy Growth Corporation
Canopy Growth (TSX:WEED, NYSE:CGC) is a world-leading diversified cannabis, hemp and cannabis device company, offering distinct brands and curated cannabis varieties in dried, oil and Softgel capsule forms, as well as medical devices through Canopy Growth’s subsidiary, Storz & Bickel GMbH & Co. KG. From product and process innovation to market execution, Canopy Growth is driven by a passion for leadership and a commitment to building a world-class cannabis company one product, site and country at a time. Canopy Growth has operations in over a dozen countries across five continents.

Canopy Growth’s medical division, Spectrum Therapeutics is proudly dedicated to educating healthcare practitioners, conducting robust clinical research, and furthering the public’s understanding of cannabis, and has devoted millions of dollars toward cutting edge, commercializable research and IP development. Spectrum Therapeutics sells a range of full-spectrum products using its colour-coded classification Spectrum system as well as single cannabinoid Dronabinol under the brand Bionorica Ethics.

Canopy Growth operates retail stores across Canada under its award-winning Tweed and Tokyo Smoke banners. Tweed is a globally recognized cannabis brand which has built a large and loyal following by focusing on quality products and meaningful customer relationships.

From our historic public listing on the Toronto Stock Exchange and New York Stock Exchange to our continued international expansion, pride in advancing shareholder value through leadership is engrained in all we do at Canopy Growth. Canopy Growth has established partnerships with leading sector names including cannabis icons Snoop Dogg and Seth Rogen, breeding legends DNA Genetics and Green House Seeds, and Fortune 500 alcohol leader Constellation Brands, to name but a few. Canopy Growth operates eleven licensed cannabis production sites with over 10.5 million square feet of production capacity, including over one million square feet of GMP certified production space. For more information visit www.canopygrowth.com

Notice Regarding Forward Looking Statements
This news release contains “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities legislation. Often, but not always, forward-looking statements and information can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements or information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Canopy Growth or its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements or information contained in this news release. Examples of such statements include statements with respect to future product format offerings. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information, including the Company’s ability to satisfy provincial sales contracts or provinces purchasing all cannabis allocated to them, and such risks contained in the Company’s annual information form dated June 25, 2019 and filed with Canadian securities regulators available on the Company’s issuer profile on SEDAR at www.sedar.com. Although the Company believes that the assumptions and factors used in preparing the forward-looking information or forward-looking statements in this news release are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed time frames or at all. The forward-looking information and 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 information or forward-looking information to reflect new information, subsequent events or otherwise unless required by applicable securities laws.

SOURCE Canopy Growth Corporation

For further information: Samantha Spence, Senior Communications Advisor, samantha.spence@canopygrowth.com, (437) 234-8105; Investor Relations, Tyler Burns, Tyler.Burns@canopygrowth.com, 855-558-9333 ext. 122

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• Increased agility by reducing capital requirements
• Maintaining objective to become EBITDA and operating cash flow positive by Q2 2020
• Adapting to slower legal market conversion by deferring excess capacity and expenses
• Ability to easily scale up production as more retail locations open and legal sales increase

TORONTO, Oct. 18, 2019 /CNW/ – The Green Organic Dutchman Holdings Ltd. (the “Company” or “TGOD”) (TSX:TGOD) (US:TGODF), a leading producer of premium certified organic cannabis, today unveiled a new strategic plan, including a series of actions to reduce the Company’s financing requirements while maintaining its path to profitability.  These actions will result in increased agility, lower capital requirements and an optimal production capacity to serve the organic segment.

“These actions are logical next steps in TGOD’s road to profitability.  While we are committed to – and our strategy continues to leverage – our unparalleled scale as an organic producer as well as our international assets, we have identified areas where our scale would not provide for meaningful returns in the near term given the slower pace of legal market conversion.  We will optimize our operating efficiency by deferring excess capacity and expenses, whether they center on production facilities, international expansion projects or technology,” commented Brian Athaide, CEO of TGOD.

Given current market conditions, the Company is adopting a new construction and operating plan to reduce its cash needs, with a prudent production ramp leading to expected positive operating cash flow in Q2 2020.  The Ancaster greenhouse is complete, and the Ancaster processing facility is approximately five weeks from material completion. TGOD’s large scale project in Valleyfield, Quebec will be demarcated into smaller phases, with more to be completed once the market further develops. The combined facilities will enable TGOD to produce 20,000 kg to 22,000 kg in 2020.

The Company estimates that it will need approximately $70M to $80M between now and the end of Q2 2020 to undertake the plan and reach positive operational cash flow by Q2 2020; it has engaged with an advisor and is currently evaluating a variety of options to secure the required funding.  This plan maintains the optionality to recommence completion of Valleyfield Phase 1a to full 65,000 kg capacity and Phase 1b for a further 65,000 kg once there is a clear path to Canadian retail store expansions and legal revenue growth. Funding is expected to come from operating cash flow or with lower cost financing given proven production and revenue from Ancaster and the smaller first phase of Valleyfield.

“With the current Canadian legal market being smaller than initially anticipated, mainly due to a slow rollout of retail locations in key provinces, we believe that our revised plan will allow TGOD to right size its production to capture the organic segment, while maintaining optionality to quickly accelerate and expand as more retail locations begin to open,” added Athaide.

Some of the actions included in TGOD’s new strategic plan are:

Cannabis 2.0:

• TGOD is ready to commercialize its portfolio of new products, including organic teas, infusers and vapes by mid-December.
• The Company already has formulations and is working with several co-packers to launch liquid beverages and topicals during 2020 as Health Canada licenses these facilities.
• The portfolio is consumer inspired and concept tested to ensure clear differentiation and product superiority, including preliminary pharmacokinetic study data.

General expenses:

• TGOD is scaling back selling, general and administrative expenses (SG&A) to focus on operational readiness in production, sales and Cannabis 2.0.

Ancaster:

• The Ancaster site will be fully completed by the end of Q4, including the processing facility.
• Ancaster has a planned annual production of approximately 12,000 kg in 2020, on path to mature scale capacity of 17,500 kg.

Valleyfield:

• Finalize six rooms in Valleyfield hybrid greenhouse, one to be used for mothers and another for initial processing, that are currently nearing completion with majority of capital for these covered by restricted cash on hand as at September 30.
• Planned annual production from the four grow rooms of 10,000 kg in 2020.
• Production from Valleyfield will complete processing and packaging in Ancaster, generating significant gross margin.
• Fully enclose the facility for protection during winter months.
• The other elements of TGOD’s Valleyfield site Phase 1a, including another 18 grow rooms and the processing centre, will recommence completion once market conditions justify the expansion towards the full 65,000 kg capacity from that phase with the ability to scale to 130,000 kg should the legal market conversion significantly accelerate.

About The Green Organic Dutchman Holdings Ltd.

The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (US-OTC: TGODF) is a publicly traded, premium global organic cannabis company, with operations focused on medical cannabis markets in Canada, Europe, the Caribbean and Latin America, as well as the Canadian adult-use market. TGOD also has organic hemp CBD oil operations in Canada, and through its wholly owned subsidiary HemPoland distributes premium hemp CBD oil in the EU. The Company grows high quality, certified organic cannabis with sustainable, all-natural principles. TGOD’s products are laboratory tested to ensure patients have access to a standardized, safe and consistent product. TGOD has a planned capacity build-out reaching 219,000 kg upon completion based on its ability to expand to 1,643,000 sq. ft. of cultivation and processing facilities across Canada, Denmark and Jamaica.

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

For more information on The Green Organic Dutchman Holdings Ltd., please visit www.tgod.ca.

Forward-Looking Information Cautionary Statement

This news release includes statements containing certain “forward-looking information” within the meaning of applicable securities law (“forward-looking statements”). Forward looking statements in this release includes, but is not limited to, statements about construction and future production, statements about the potential to achieve positive operating cash flow and level of gross margins, statements about timing of harvests, statement about the potential for financing facilities, statement about status of Health Canada licences, statements about the potential for retail stores and market size, statements about the offering of any particular products by the Company in any jurisdiction and statements regarding the future performance of the Company. Forward-looking statements are frequently characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”, “should”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties (including market conditions) and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements, including those risk factors described in the Company’s most recently filed Annual Information Form available on SEDAR. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

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

SOURCE The Green Organic Dutchman Holdings Ltd.

For further information: Media Relations: Sebastien Bouchard, sbouchard@tgod.ca, (647) 272-2476; Investor Relations: Shane Dungey, sdungey@tgod.ca, (403) 389-9911

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1937 Cannabis features historic cannabis strains and will be available in both dry flower and concentrates

The post Vireo Health Launches 1937 Cannabis Brand appeared first on CannabisFN.

LAVAL, QC, Oct. 17, 2019 /PRNewswire/ – Neptune Wellness Solutions Inc. (“Neptune” or the “Company”) (NASDAQ: NEPT) (TSX: NEPT) is pleased to announce that it entered into an agreement to provide extraction services to a large U.S.-based farming services operation. Under the contract terms, Neptune will receive hemp biomass to be processed and transformed into crude oil extracts. The 2-year agreement could reach a total value in excess of US$20 million. The first shipment of biomass is expected to arrive at Neptune’s North Carolina facility in the coming weeks.

“This large contract will support our capacity expansion at our North Carolina facility and better position us to serve the growing United States market. Our expansion in North Carolina is on time and on budget with extraction capacity expected to reach an annual run-rate of 1,500,000 kg of biomass by December 2019. Demand for extraction and formulation services in the U.S. is currently strong with the ongoing harvest season and our tolling and formulation pipeline to deliver high quality full and broad spectrum extracts remains robust. This announcement represents a further step towards our customer and geographic diversification strategy,” said Michael Cammarata, Neptune’s CEO.

Neptune also recently appointed Brett DuBose as Vice-President of Sales for the U.S. Region. Brett has more than 20 years of sales experience, most recently with Lonza Consumer Health and Nutrition where he was Associate Director Sales, for the Eastern U.S and Canada. He has also worked for 14 years at Pfizer in the Capsugel division, his last role being a Sales Manager Generic & Dietary Supplement. “With his extensive industry contacts and experience, Brett will play a key role in helping Neptune accelerate its market penetration in the U.S.,” said Mr. Cammarata.

Once Neptune’s near-term capacity expansion plans are complete and the Canadian expansion approved by Health Canada, the Company is expected to have a total extraction capacity of 3,000,000 kg of biomass annually, spread equally between Canada and the U.S.

About Neptune Wellness Solutions Inc.
Neptune Wellness Solutions specializes in the extraction, purification and formulation of health and wellness products. The Company has in excess of 100 customers across several verticals including legal cannabis and hemp, nutraceutical and consumer packaged goods. Neptune’s wholly owned subsidiary, 9354-7537 Québec Inc., is licensed by Health Canada to process cannabis at its 50,000-square-foot facility located in Sherbrooke, Quebec. The Company also has a 24,000 square-foot facility located in North Carolina to process hemp biomass into extracts. Neptune brings decades of experience in the natural products sector to the legal cannabis and hemp industries. Leveraging its scientific and technological expertise, the Company sees applications for hemp-derived extracts in the U.S. beyond existing markets and product forms and into personal care and home care markets. Neptune’s activities also include the development and commercialization of turnkey nutrition solutions and patented ingredients such as MaxSimil®, and a variety of marine and seed oils. Its head office is located in Laval, Quebec.

Forward-Looking Statements
Statements in this press release that are not statements of historical or current fact constitute “forward-looking statements” within the meaning of the U.S. securities laws and Canadian securities laws. Such forward-looking statements involve known and unknown risks, uncertainties, and other unknown factors that could cause the actual results of Neptune to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms “believes”, “belief”, “expects”, “intends”, “projects”, “anticipates”, “will”, “should”, “likely” or “plans” to be uncertain and forward-looking. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.

The forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement and the “Cautionary Note Regarding Forward-Looking Information” section contained in Neptune’s latest Annual Information Form (the “AIF”), which also forms part of Neptune’s latest annual report on Form 40-F, and which is available on SEDAR at www.sedar.com, on EDGAR at www.sec.gov/edgar.html and on the investor section of Neptune’s website at www.neptunecorp.com. All forward-looking statements in this press release are made as of the date of this press release. Neptune does not undertake to update any such forward-looking statements whether as a result of new information, future events or otherwise, except as required by law. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in Neptune public securities filings with the Securities and Exchange Commission and the Canadian securities commissions. Additional information about these assumptions and risks and uncertainties is contained in the AIF under “Risk Factors”.

Neither NASDAQ nor the Toronto Stock Exchange accepts responsibility for the adequacy or accuracy of this release.

SOURCE Neptune Wellness Solutions Inc.

Related Links

https://neptunecorp.com

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SOL Global Will Change its Name to “Bluma Wellness Inc.” to Reflect Continued U.S. Expansion

“One Plant” Will Become the Company’s Brand Name for All Anticipated 49 Retail Locations and Home Delivery

TORONTO, Oct. 16, 2019 /CNW/ – SOL Global Investments Corp. (“SOL Global” or the “Company“) (CSE: SOL) (OTCPK: SOLCF) (Frankfurt: 9SB), an international company focused on cannabis and cannabis-related ventures, is pleased to announce the results of its special meeting of shareholders held on October 15, 2019 (the “Meeting“). Shareholders representing approximately 99.299% of votes cast at the Meeting, by proxy or in person, approved a special resolution authorizing the Company to amend its articles to change its name from “SOL Global Investments” to “Bluma Wellness Inc.” (the “Name Change“). The Company expects the Name Change and a change to its ticker symbol to occur in the coming weeks. The common shares of the Company will continue to trade on the CSE under its existing trading symbol, SOL.

The Company is also pleased to announce that shareholders representing approximately 99.323% of votes cast at the Meeting, by proxy or in person, approved a change of business of the Company from an “investment company” to a “life sciences issuer” that will operate as a U.S. multi-state cannabis operator (“MSO“). The Company expects the change of business to occur in the coming months.

The Name Change reflects the Company’s transition from an international cannabis investment company to that of an MSO under the life sciences category of the CSE, as had been previously announced by the Company on August 8, 2019. With fully operational GMP and GAP certified cultivation and processing facilities, its first two dispensary sites opening this month and the roll out of its proprietary home delivery model in Florida, Bluma has already positioned itself for solid growth and the capture of market share in Florida. Additionally the expected acquisitions in California of ECD Inc. (operating as “Northern Emeralds“), an acclaimed craft cultivator and processor of premium cannabis flower based in Humboldt County, the One Plant chain of dispensaries, plus the expected acquisition in Michigan of MCP Wellness Inc. (“MCP Wellness“) and its operating dispensaries (plus its cultivation licenses and approved dispensary licenses) will position Bluma Wellness as a new breed of MSO that is laser-focused on product quality and operational efficiencies. Bluma Wellness intends to be one of the few MSOs to embrace and deploy responsible scaling of its operations and EBITDA generation, and just as importantly, will remain true to its mission of producing the highest quality cannabis flower in the United States.

“All of the strategic investments into cannabis brands and operations in Florida and the proposed investments in California and Michigan that were made by our team over the past year will pave the way for this transition to becoming a MSO,” said Bluma Wellness’ interim chair and CEO Brady Cobb. “We have assembled an incredibly talented and seasoned management team that is excited to operate and responsibly scale up both Bluma’s cultivation, processing and dispensing operations in Florida and the proposed operations in Michigan and California, which represent three (3) of the biggest markets by revenue, as well as Bluma’s portfolio of some of the strongest brands in the sector including Northern Emeralds, Old Pal, Venice Cookie Company and others. I am beyond thrilled to be able to bring these assets together and execute upon our strategic operations plan in Q4 and beyond.”

CORPORATE UPDATE:

Operations:

SOL Global’s strategic investments and expected acquisitions in key states this year have built out the necessary infrastructure to support the Company’s multi-state operation.

As previously announced, SOL Global signed a binding letter of intent (“LOI“) to acquire six licensed cannabis dispensary companies and all One Plant intellectual property in California that it expects will operate under the nationally recognized “One Plant” brand. In line with Bluma Wellness’ expansion, 3 Boys Farm LLC in Florida (“3 Boys Farms“), which the Company previously acquired through a majority stake, has begun the integration of the One Plant branding with their Florida customer base. “One Plant”, once fully integrated, will become the brand name of all of Bluma Wellness’s anticipated 49 retail stores spread throughout Florida as well as Bluma’s proprietary home delivery service, and expected throughout Michigan and California following these acquisitions.

The Company expects that Northern Emeralds, an industry leading cannabis cultivation, processing and distribution company headquartered in Humboldt County, California, and Michigan-based MCP Wellness, which operates retail and cultivation centers in Michigan, will, if successfully acquired, also fall under Bluma Wellness.

3 Boys Farm:

SOL Global’s Florida asset, 3 Boys Farms, has rolled out a few strategic initiatives including a proprietary delivery model and new product releases. A press release will be forthcoming that details the success of those initiatives. Stay tuned.

About SOL Global Investments Corp.
SOL Global is an international investment company with a focus on investing in cannabis and cannabis related companies in legal U.S. states, the hemp and CBD marketplaces and the emerging European cannabis and hemp marketplaces with an objective of providing shareholders with a long term return through capital appreciation, dividends and interest from its investments. If the Company believes there is a strategic reason to do so, it may also invest in companies not in the cannabis sector.

Forward-Looking Statements
This news 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.

The forward-looking information contained in this press release includes: the Company’s name change and ticker symbol change, the Company’s change of business to becoming a U.S. multistate cannabis operator, the Company’s efficient scaling of its operations, generation of EBITDA through operational efficiencies and production of one of the highest quality cannabis flower in the United States, the acquisition of six-licensed cannabis dispensary companies, the acquisition of One Plant intellectual property and its use across 49 retail stores, the acquisitions in Michigan and California, the opening of retail stores in Florida, Michigan and California, and information relating to the commencement, termination and manner of the normal course issuer bid. Forward-looking information is 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 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, which has 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.

The securities referred to in this news release have not been and will not be registered under the United States Securities Act of 1933, as amended (“U.S. Securities Act“), or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent such registration or an applicable exemption from the registration requirements of the U.S. Securities Act. This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities.

SOURCE SOL Global Investments Corp.

For further information: SOL Global Investments Corp., Brady Cobb, CEO, Phone: (212) 729-9208, Email: info@solglobal.com; Media Contact: Davis Richardson, Davis@amwpr.com, 212.542.3146

The post SOL Global Shareholders Approve Name Change to “Bluma Wellness” in Pivot to Becoming a U.S. Cannabis Multi-State Operator appeared first on CannabisFN.

VANCOUVER, Oct. 17, 2019 /CNW/ – THC BioMed Intl Ltd. (“THC BioMed“) (CSE: THC) announces that is has submitted its application to Health Canada to amended its licence to add sales of cannabis edibles, topicals and extracts.

“THC BioMed has always been focused on producing quality products and we are entering the segment of cannabis edibles, topicals and extracts with the same approach,” said John Miller, CEO of THC BioMed.

The Canadian market for cannabis edibles, topicals and extracts is worth an estimated $2.7 billion per year, with edibles representing more than half that amount, according to a report from Deloitte. This spending is expected to be in addition to the approximately $6-billion estimated domestic market for recreational and medical cannabis.

Deloitte estimates that roughly $1.6 billion will be spent on edibles per year in Canada, followed by cannabis-infused beverages at $529 million and topicals at $174 million. Spending on concentrates is expected to hit $140 million, followed by tinctures at $116 million and capsules at $114 million.

In its report, entitled “Nurturing new growth,” released in May 2019, Deloitte states that its view is that edibles will prove to be a more successful segment in Canada, in part because the Canadian market is currently more scalable than the U.S. market. The report states that edibles will “make cannabis more accessible to a wider group of Canadians, many of whom will appreciate edibles’ discreetness and lack of surrounding stigma.”

While the sale of cannabis edibles, topicals and extracts will be legal in Canada for those with the required licences and approvals. Health Canada has indicated that cannabis products will not be made available to the public for purchase until at least mid-December 2019. The regulations place a limit of 10 milligrams of THC per discrete unit for edibles and extracts, while 1,000 milligrams per package for cannabis topicals will be permitted. The product’s packaging must be plain and child-resistant, and display the standardized cannabis symbols along with a health warning message. In order to prevent food-borne illness and cross-contamination, the production of food and cannabis must be done in completely separate facilities.

For specific cannabis edible, topical or extract products, THC will submit applications for product approvals to Health Canada and be subject to the 60-day notice period for new cannabis products becoming available for sale, pursuant to Appendix I of Canada’s updated Cannabis Licence Management Guide.

There is a lot of excitement about cannabis edibles, topicals and extracts hitting the market in December. THC BioMed reminds everyone to start low and go slow.

About THC

THC is an ACMPR Licensed Producer and Canada’s largest supplier of legal Cannabis Genetics. THC is on the leading edge of scientific research and the development of products and services related to the medical cannabis industry. Management believes THC is well-positioned to be in the forefront of this rapidly growing industry. Please visit our website for a more detailed description of our business and services available. www.thcbiomed.com

Forward-Looking Information:
This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of THC BioMed. Forward-looking information is based on certain key expectations and assumptions made by the management of THC BioMed. In some cases, you can identify forward-looking statements by the use of words such as “will,” “may,” “would,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “could” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Although THC BioMed 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 THC BioMed can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release and include that (a) Health Canada will amended its licence to add sales of cannabis edibles, topicals and extracts, (b) The Canadian market for cannabis edibles, topicals and extracts is worth an estimated $2.7 billion per year and the other market projections from Deloitte’s report will be realized, (c) THC BioMed will submit any new product approval requests for any specific cannabis edible, topical or extract products, and (c) THC will be on the forefront of this rapidly growing industry. THC disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.

SOURCE THC BioMed

For further information: President and CEO, John Miller, THC Biomed Intl Ltd., T: 1-844-THCMEDS, E: info@thcbiomed.com

Related Links

http://thcbiomed.com/

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DENVER, Oct. 17, 2019 /PRNewswire/ – HempFusion, (“the Company”), a leading Hemp/CBD company in the United States with distribution of its family of brands to over 3,400 retailers across 47 states, is pleased to announce the launch of its innovative & delicious Twist product line featuring the Company’s proprietary Whole Food Hemp Complex. Consumers can now enjoy HempFusion’s premium Twist products in two different sizes and three delicious flavors that include; Mango Peach, Citrus Ginger and Key Lime.

The post HempFusion Launches Innovative Full Spectrum CBD Twist Products appeared first on CannabisFN.

Vancouver, British Columbia, October 17, 2019 – Naturally Splendid Enterprises Ltd. (“Naturally Splendid”, “NSE” or “the Company”) (FRANKFURT:50N) (TSX-V:NSP) (OTC:NSPDF), a healthy food, hemp product developer and largescale producer for inhouse brands as well as global contract manufacturer, is pleased to provide our insight in regard to strategic positioning in the evolving cannabinoid extract, edibles markets.

Naturally Splendid’s strategy to manufacture its own company branded products and provide existing and new contract manufacturing services for private label clients is anticipated to include cannabinoid extraction and/or edible products once the pending regulatory framework is defined and necessary licenses have been secured. With a collective of over a decade of experience in hemp and food manufacturing, combined with recently achieved Safe Quality Food Level 2 Certification (SQF2) at its Pitt Meadows manufacturing facility. Naturally Splendid has gained invaluable experience and knowledge in this area, which will be a valuable asset in developing relationships with higher tier food service clients.

In the 10 years since its inception, the Company has worked hard to build shareholder value through an overlying strategy of manufacturing nutritional company branded products under such brand names as; Natera Sport; Natera Hemp Foods; Chii Hemp Foods; Elevate Me Nutritional Bars; and PawsitiveFX, as well as offering contract manufacturing services producing private label products for a wide range of national and international clients.

Naturally Splendid’s Natera Sport brand, launched in late 2018, has already earned a favourable reputation as a superior source of natural, sports nutrition. The brand is well positioned to benefit from the increasing consumer demand for plant-based and all-natural products. Company CEO Mr. J. Craig Goodwin states, “The popularity of our established products allows us to enter the sports nutrition space with a strong and growing brand as we continue towards a regulated market of sport and food products that will be allowed to contain cannabinoids such as CBD (cannabidiol). We view the adoption of CBD in future Natera Sport offerings as a potentially significant growth driver for our business”.

In this regard, the Company has entered the sports nutrition market through its Natera Sport Bites that are suitable for every level of athlete from weekend warriors to elite athletes, including becoming popular with many professional golfers on the PGA Tour. Natera Sport Bites appeared in the August 2019 and October 2019 editions of Golf Magazine, a magazine with a monthly following in excess of 15,000,000 readers, as a preferred nutritional product of many professional golfers.

Naturally Splendid Vice President Mr. Bryan Carson states, “This is another historic day in the evolution of the evolving hemp and cannabinoid markets in Canada. The new regulations covering Cannabis Health Products (CHPs) as set forth under Health Canada’s “Cannabis Act”, will allow for systematic approvals of cannabinoid infused products for public consumption. It is anticipated that, initially, approved products will be somewhat limited and that many of these products will not be available until December 2019. This works in our favour as Naturally Splendid has a thriving nutritional bars and bites operation that is not dependent nor impeded by the new regulations whatsoever. Yet the Company is ideally positioned as these CBD products become more mainstream and appropriate licensing is obtained”.

Natera Sport Bites were formulated by Dr. Stuart Love, a health practitioner in his eleventh year on the PGA Tour. Dr. Love states, “This lays the groundwork for the adoption of cannabidiol (“CBD”) in future product offerings in accordance with regulations. I very much look forward to the evolution of Natera Sport Bites and to offering products infused with CBD as these regulations evolve globally”. Dr. Love adds, “The use and acceptance of CBD-based products in the professional sports landscape has changed. We have witnessed the negative effects of prescription painkillers, and athletes are looking for healthier alternatives. We believe CBD to be one of those healthier alternatives that will augment our already nutrient dense product offerings.” Dr. Stuart Love is the formulator of Natera Sport Bites and a Company Advisor to Naturally Splendid.

’Cross-over opportunities’ are abundant, as established nutrition companies are venturing into the cannabinoid infused space and licensed producers or processing companies are venturing into more traditional markets. Most recently, Canopy Growth acquired a 72% stake in sports nutrition and hydration company, BioSteel. According to Canopy, this acquisition will further expand its potential CBD (cannabidiol) offerings. This is a strategy shared by Naturally Splendid through its established Natera Sport line. Natera Sport KEY-TO-LIFE keto bars are now found in over 2,000 retailers across Canada.

“In short”, states Company COO, Mr. Barry Dashner, “We have a thriving nutritional bar business in traditional distribution channels that continues to grow sales quarter after quarter which is unrestricted under the new edible regulations that will soon be in play. The progression at our facility from manufacturing conventional food to infused food will be a seamless transition, as NSE has already installed and is operating specialized equipment that allows for several different infusion and coating methods. This has created increased capacity at our facility, which has already led to additional business for NSE prior to infused regulations coming into effect. We believe our manufacturing division is well positioned to capitalize on the upcoming legalization of edibles and food production in Canada, and in fact abroad. “

About Naturally Splendid Enterprises Ltd. 

Naturally Splendid is a biotechnology and consumer products company that is developing, producing, commercializing, and licensing an entirely new generation of plant-derived, bioactive ingredients, nutrient-dense foods, and related products. Naturally Splendid is focused on the commercial uses of industrial hemp, and once regulations allow, in permitting jurisdictions, this will include CBD (cannabidiol), and other cannabinoid compounds in a broad spectrum of applications.

For more information e-mail info@naturallysplendid.com or call Investor Relations at 604-673-9573

On Behalf of the Board of Directors

Mr. Craig Goodwin

CEO, Director

Contact Information

Naturally Splendid Enterprises Ltd.

(NSP:TSX Venture; NSPDF:OTCQB; 50N Frankfurt)

#108-19100 Airport Way

Pitt Meadows, BC, V3Y 0E2

Office:  (604) 465-0548

Fax:      (604) 465-1128

E-mail: info@naturallysplendid.com

Website: www.naturallysplendid.com

The post Naturally Splendid Positions for Evolving CBD Market as New Regulations Commence appeared first on CannabisFN.

PHOENIX, Oct. 17, 2019 /CNW/ — Harvest Health & Recreation, Inc. (CSE: HARV, OTCQX: HRVSF) (“Harvest”), a vertically integrated cannabis company with one of the largest and deepest footprints in the U.S., today announced the opening of Harvest of Scranton, the third Harvest-affiliated Pennsylvania dispensary in Scranton. Since beginning operations in 2011, Harvest has become known for quality-driven retail experiences, top operational standards and unwavering commitment to serve the communities we enter.

“We are thrilled to be expanding our presence in Pennsylvania,” said Harvest CEO Steve White. “As our third Harvest-affiliated location in the state, the Scranton dispensary will bring our leading high-quality and trusted experiences to more Pennsylvanians.”

The dispensary in Scranton is located at 340 S Washington Ave, Scranton, PA 18505 and is open Tuesday through Sunday from 9am to 6pm. Two other locations are currently open in Reading, PA.

About Harvest Health & Recreation, Inc.

Headquartered in Tempe, Arizona, Harvest Health & Recreation, Inc. is a multi-state cannabis operator (MSO) and vertically-integrated cannabis company. Subject to completion of announced acquisitions, Harvest will have one of the largest footprints in the U.S., with rights to more than 210 facilities, of which approximately 130 are retail locations, and more than 1,700 employees across 18 states and territories. Since 2011, the company has been committed to expanding its Harvest House of Cannabis retail and wholesale presence throughout the U.S., acquiring, creating and growing leading brands for patients and consumers nationally and continuing on a path of profitable growth. Harvest’s mission is to improve lives through the goodness of cannabis and is focused on its vision to become the most valuable cannabis company in the world. We hope you’ll join us on our journey: https://harvestinc.com

SOURCE Harvest Health & Recreation Inc.

For further information: Media Contact: Alex Howe, Head of Corporate Communications, ahowe@harvestinc.com, OR Investor Contact: Christine Hersey, Director of Investor Relations, chersey@harvestinc.com, www.harvestinc.com

Related Links

www.harvestinc.com

The post Third Harvest-Affiliated Dispensary Located in Pennsylvania Opens in Scranton appeared first on CannabisFN.

The Company’s number of branded retail cannabis stores is expected to reach 30 locations across Canada by mid-November

CALGARY, Oct. 17, 2019 /CNW/ – High Tide Inc. (“High Tide” or the “Company”) (CSE:HITI) (OTCQB:HITIF) (Frankfurt:2LY), an Alberta-based, retail-focused cannabis corporation enhanced by the manufacturing and wholesale distribution of smoking accessories and cannabis lifestyle products, today announced that the KushBar retail store located in Unit #7 at 8807 100th Street in Morinville (the “KushBar Store”) received its first delivery of cannabis products from Alberta Gaming, Liquor and Cannabis (“AGLC”) and today will begin selling recreational cannabis products and accessories. To celebrate the grand opening of this location, festivities will take place at the KushBar Store on Saturday, October 19th.

High Tide currently has 26 branded locations selling recreation cannabis products across Canada, inclusive of the KushBar Store. “Based on the early success of the first KushBar store opened in Camrose last month, we are excited to continue opening more locations across Alberta and bringing this modern retail experience to new customers,” said Raj Grover, President and Chief Executive Officer of High Tide. “Located just north of Edmonton, Morinville is a growing community and holds a unique place in the province. We look forward to being part of the community for the long term,” added Mr. Grover. The Company will soon have 30 branded retail cannabis locations across Canada, barring any changes to the current rate of licensing by AGLC.

The development permits for the remaining Canna Cabana and KushBar stores needed to achieve the AGLC’s maximum of 42 are secured and in-hand, with each location currently under various stages of development and construction. Outside of Alberta, High Tide currently has a Canna Cabana retail cannabis store in Swift Current, Saskatchewan, along with 3 branded locations in Hamilton, Sudbury and Toronto, Ontario.

About High Tide Inc.

High Tide is an Alberta-based, retail-focused cannabis corporation enhanced by the manufacturing and wholesale distribution of smoking accessories and cannabis lifestyle products. It is a vertically-integrated company in the Canadian cannabis market, with portfolio subsidiaries including RGR Canada Inc., Famous Brandz Inc., Kush West Distribution Inc., Smoker’s Corner Ltd., Grasscity.com, Canna Cabana Inc. and the majority of KushBar Inc. High Tide’s strategy as a parent company is to extend and strengthen its integrated value chain, while providing a complete customer experience and maximizing shareholder value. Key industry investors in High Tide include Aphria Inc. (TSX: APHA) (NYSE: APHA), Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB) and FSD Pharma Inc. (CSE: HUGE) (OTC: FSDDF) (FRA: 0K9).

Representing the core of High Tide’s business, RGR Canada Inc. is a high-quality and innovative designer, manufacturer and distributor of cannabis accessories. Famous Brandz Inc. is a dominant manufacturer of licensed lifestyle accessories, through partnerships with celebrities and entertainment companies including Snoop Dogg and Paramount Pictures. Famous Brandz’ products are sold to wholesalers and retailers around the world. Founded in 2009 and approved by the Canadian Franchise Association, Smoker’s Corner Ltd. is among Canada’s largest counter-culture chains with 13 locations. Kush West Distribution is in the process of becoming a cannabis wholesaler in the province of Saskatchewan. Based in Amsterdam since 2000, Grasscity.com is the world’s preeminent and most searchable online retailer of smoking accessories and cannabis lifestyle products with approximately 5.8 million site visits annually. With the deregulation of recreational cannabis for adult use across Canada, Canna Cabana Inc. and its 24 branded stores, is a sizeable retail business with a sophisticated yet playful customer experience. KushBar Inc. is a retail cannabis joint venture with 2 locations in Alberta, offering a modern experience that is focused on the growing customer bases in Alberta and Ontario.

For more information about High Tide Inc., please visit www.hightideinc.com and its profile page on SEDAR at www.sedar.com.

Forward-Looking Information

Certain statements in this news release are forward-looking information or forward-looking statements. Such information and statements, referred to herein as “forward-looking statements” are made as of the date of this news release or as of the date of the effective date of information described in this news release, as applicable. Forward-looking statements relate to future events or future performance and reflect current estimates, predictions, expectations or beliefs regarding future events. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (generally, forward-looking statements can be identified by use of words such as “outlook”, “expects”, “intend”, “forecasts”, “anticipates”, “plans”, “projects”, “estimates”, “envisages, “assumes”, “needs”, “strategy”, “goals”, “objectives”, or variations thereof, or stating that certain actions, events or results “may”, “can”, “could”, “would”, “might”, or “will” be taken, occur or be achieved, or the negative of any of these terms or similar expressions, and other similar terminology) are not statements of historical fact and may be forward-looking statements.

Such forward-looking statements are based on assumptions that may prove to be incorrect, including but not limited to the ability of High Tide to execute on its business plan and that High Tide will receive one or multiple licenses from Alberta Gaming, Liquor & Cannabis, British Columbia’s Liquor Distribution Branch, Liquor, Gaming and Cannabis Authority of Manitoba, Alcohol and Gaming Commission of Ontario or the Saskatchewan Liquor and Gaming Authority permitting it to carry on its Canna Cabana Inc. and KushBar Inc. businesses. High Tide considers these assumptions to be reasonable in the circumstances. However, there can be no assurance that any one or more of the government, industry, market, operational or financial targets as set out herein will be achieved. Inherent in the forward-looking statements are known and unknown risks, uncertainties and other factors that could cause actual results, performance or achievements, or industry results, to differ materially from any results, performance or achievements expressed or implied by such forward-looking statements.

The forward‐looking statements contained herein are current as of the date of this news release. Except as required by law, High Tide does not have any obligation to advise any person if it becomes aware of any inaccuracy in or omission from any forward-looking statement, nor does it intend, or assume any obligation, to update or revise these forward-looking statements to reflect new events or circumstances. Any and all forward-looking statements included in this news release are expressly qualified by this cautionary statement, and except as otherwise indicated, are made as of the date of this news release.

SOURCE High Tide Inc.

For further information: please contact Nick Kuzyk, Chief Strategy Officer & SVP Capital Markets at High Tide Inc.; Tel: (403) 265-4207; Email: Nick@HighTideInc.com; Web: www.HighTideInc.com

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Toronto, Ontario – October 16, 2019 – Halo Labs Inc. (“Halo” or the “Company“) (NEO: HALO, OTCQX: AGEEF, Germany: A9KN) is pleased to announce that, further to the Company’s press releases of October 7, 2019 and October 11, 2019, Halo has closed a second tranche of the previously announced non-brokered increased private placement of Halo common shares (the “Offering”) at a price of CAD $0.31 per share for additional gross proceeds of approximately CAD $1 million (the “Second Tranche”).  The Company previously closed a first tranche of the Offering for gross proceeds of CAD $3 million.  The Company is also increasing the size of the Offering by an additional CAD $1 million for new investors.

The Second Tranche

In connection with the Second Tranche, Halo issued an aggregate of 3,115,622 common shares at a price of CAD $0.31 per share for aggregate gross proceeds of CAD $965,842.82. The Halo common shares issued in connection with the Second Tranche are subject to a four month and one day statutory hold period pursuant to applicable securities laws. None of the subscribers in the Offering were related-parties to the Company.

As previously announced by the Company, Halo intends to use the proceeds of the Offering to complete the development and deployment of Dispensary Track and continue its expansion efforts in California, including the increase of its direct sales force and product offerings and the growth of its manufacturing capacity in Cathedral City.

ABOUT HALO
Halo is a cannabis extraction company that develops and manufactures quality cannabis oils and concentrates, which are the fastest growing segments in the cannabis industry. Halo is a global leader in cannabis oil and concentrates, having produced over 4.5 million grams of oils and concentrates since inception. The Company has expertise across all major cannabis manufacturing processes, leveraging a variety of proprietary processes and products. The forward-thinking company is led by a strong management team with deep industry knowledge and blue-chip experience. The Company is currently operating in California and Oregon, as well as in Nevada with our partner Just Quality, LLC, and in Lesotho with the Bophelo strategic partnership. With a consumer-centric focus, Halo will continue to market innovative, branded, and private label products across multiple product categories. Halo recently acquired Dispensary Track platform which will alleviate customer flow constraints experienced by dispensaries and enable direct consumer interaction.

CONTACT INFORMATION
Halo Labs
Investor Relations
info@halocanna.com

Cautionary Note Regarding Forward-Looking Information and Statements

This press release contains certain “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 Halo’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Halo’s control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”. The forward-looking information and forward-looking statements contained herein include, but is not limited to, statements made in relation to the use of proceeds of the private placement.

By identifying such information and statements in this manner, Halo is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Halo to be materially different from those expressed or implied by such information and statements. In addition, in connection with the forward-looking information and forward-looking statements contained in this press release, Halo has made certain assumptions.

Among others, the key factors that could cause actual results to differ materially from those projected in the forward-looking information and statements are the following: unexpected delays or expenses in connection with Halo’s operations, adverse changes to the CBD market, adverse changes in applicable laws; changes in general economic, business and political conditions, including changes in the financial markets and the other any other risks not disclosed in the AIF disclosed under the heading “Risk Factors” in Halo’s annual information form for its fiscal year ended December 31, 2018. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.

 Although Halo believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. Key assumptions used herein include, without limitation, that there will be no unexpected delays or costs in connection with the Company’s Cathedral City build out, the Company will be able to identify and negotiate agreements with suitable distribution partners, management’s expectations regarding sales of new products will be realized, the introduction of an ERP system and the securing of raw materials will deliver improved margins, an increased sales force in Nevada that will be able to increase distribution effectively, the Company will not encounter any unexpected costs or delays in the completion of a CBD manufacturing facility, the Company’s intended CBD manufacturing facility will be able to achieve production levels currently estimated by management and the Company will be able to identify a suitable location for a CBD manufacturing facility in the Emerald Triangle.  The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and Halo does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to Halo or persons acting on its behalf is expressly qualified in its entirety by this notice.

The post Halo Labs Announces Closing of Second Tranche For Completion Of Aggregate CAD $4 million Private Placement appeared first on CannabisFN.

Q3 2019 Revenue of $16.5 million, Adjusted EBITDA of $9.8 million, and Net income of $5.9 million 

KELOWNA, BC, Oct. 15, 2019 /CNW/ – Valens GroWorks Corp. (TSXV: VGW) (OTC: VGWCF) (the “Company” or “Valens“), a vertically integrated provider of industry leading extraction products and services; including a diverse suite of extraction methodologies, next generation cannabinoid delivery formats and an ISO 17025 accredited analytical lab is pleased to report its financial results for the third quarter of fiscal 2019.

Key Financial Highlights of The Third Quarter of Fiscal 2019

• Revenue increased to $16.5 million, an 87.1% increase over the second quarter and a 641.4% increase over the first quarter of 2019.
• Gross profit increased to $12.8 million, or 77.8% of revenue, for the third quarter of 2019 compared to $5.1 million or 57.9% of revenue in the second quarter.
• Adjusted EBITDA⁽¹⁾ of $9.8 million in the third quarter, or 59.4% of revenue compared to $2.0 million or 23.0% of revenue in the second quarter of 2019.
• Net income of $5.9 million (or $0.05 per share basic and diluted) in the third quarter, compared to a net loss of $10.5 million (or a loss of $0.10 per share basic and diluted) in the second quarter of 2019.
• Strong balance sheet with $69.2 million in cash and cash equivalents and short-term investments and a net working capital position of $84.1 million as at August 31, 2019.

“We are extremely pleased with the roll-out of our business plan and the continued scale up in the Company’s extraction operations which have allowed us to continue our aggressive quarter over quarter growth in volumes, revenue, adjusted EBITDA and net income.” said Tyler Robson, CEO of Valens. “The Company’s performance in the third quarter clearly demonstrates our industry leading technical capabilities, the quality of our products and the earnings power of our platform. While we anticipate that our margins in future quarters will continue a strong upward trend from the levels seen in previous quarters, especially as our volumes continue to ramp and efficiencies are realized, margins in the third quarter were aided, in part, by a one-time contract opportunity which we do not anticipate recurring in future quarters. Finally, our net income in the quarter has made us the most profitable public company in the Canadian cannabis sector with the highest net income margin (excluding biological asset fair value adjustments).”

Key Operating Highlights of The Third Quarter of Fiscal 2019

• 26,625 kilograms of dried cannabis and hemp biomass was processed in the third quarter of 2019, a 212% increase over the second quarter of 2019. The Company has already processed 13,423 kilograms of biomass in the first 45 days of the fourth quarter. During the early part of the quarter we worked with a number of our clients to process smaller, higher revenue white label product lots in preparation for the launch of edibles and concentrates later this year. This is anticipated to result in higher revenue per gram of input compared to previous quarters. Volumes are expected to accelerate into the back half of the fourth quarter, particularly as we begin to process larger white label lots for sale in 2020 and resume the processing of our previously announced contracted volumes.
• Subsequent to the end of the quarter the Company entered into the following agreements.
  • Shoppers Drug Mart – the Company signed an agreement to become the first third party processor to supply Shoppers Drug Mart with cannabis oil products for their online medical cannabis site.
  • Iconic Brewing –the Company signed its first beverage agreement with Iconic Brewing to manufacture 2.5 million cannabis beverages over the term of the 5-year agreement.

The Company continues to be engaged in active discussions with additional partners to provide extraction services and expand our existing relationships to add further value-added product development and white label services.

• The Company was accepted for listing the common shares and warrants of the Company on the TSX Venture exchange as a Tier 1 life sciences issuer and qualified and began trading on the OTCQX Best Markets in the US.
• The Company has expanded its operational footprint with the addition of corporate offices located in downtown Toronto, Ontario. The corporate office will improve the Company’s ability to realize on a number of international opportunities, increases its ability to attract and retain top talent, coordinate global operations, manage international customer relationships and expand access to the institutional investment community.

“We have a clear strategic vision for the Company and with our strong balance sheet and demonstrated cash flow generating capabilities, we are well positioned to achieve that vision.” said Jeff Fallows, President of Valens. “In the near term we are focussed on delivering on our existing contracts with industry leading partners, like Shoppers Drug Mart, to provide innovative white label product development and manufacturing services for vape cartridges, tinctures, gel capsules, beverages and topicals. Looking to the future, we will to continue to make strategic capital investments, both domestically and internationally, to improve our technical capabilities and grow our intellectual property portfolio as well as expand the Valens platform to new and strategic markets with the objective of creating long term value for our shareholders and all of our stakeholders.”

The management’s discussion and analysis for the period and the accompanying financial statements and notes are available under the Company’s profile on SEDAR at www.sedar.com.

Option Grant

On October 15, 2019, the Company granted 445,000 options to purchase common shares of the Company exercisable at a price of $2.79 per share and expiring on October 14, 2024, to certain new employees as the Company continues to strategically build out its leadership team. The options vest quarterly over a three-year period and are granted pursuant to the terms of the Company’s stock option plan, subject to regulatory approval.

Conference Call Details

The company will host a conference call on Wednesday, October 16, 2019 at 11am Eastern Time / 8am Pacific Time to discuss the financial results and business outlook.

Participant Dial-In Numbers:
Toll-Free: 1-877-407-0792
Toll / International: 1-201-689-8263
*Participants should request the Valens GroWorks Earnings Call or provide confirmation code 13695323

The call will be webcast on the Valens Investor page of the Company website at https://www.valensgroworks.com/investors or at this link. Please visit the website at least 15 minutes prior to the call to register, download, and install any necessary audio software. A replay of the call will be available on the Valens Investor page approximately two hours after the conference call has ended.

Tyler Robson, Chief Executive Officer, Chris Buysen, Chief Financial Officer, Jeff Fallows, President, and Everett Knight, Executive Vice President of Strategy & Investments will be conducting a question and answer session following the prepared remarks.

About Valens GroWorks

Valens GroWorks Corp. (TSXV: VGW) (OTC: VGWCF) is a multi-licensed, vertically-integrated cannabis company focussed on being the partner of choice for leading Canadian and international cannabis brands by providing best-in-class, proprietary services including CO2, ethanol, hydrocarbon, solvent-less and terpene extraction, analytical testing, formulation and white label product development. Valens is the largest third-party extraction Company in Canada with an annual capacity of 425,000 kg of dried cannabis and hemp biomass at our purpose-built facility in Kelowna, British Columbia which is in the process of becoming European Union (EU) Good Manufacturing Practices (GMP) compliant. Additionally, our subsidiary Valens Labs is a Health Canada licensed ISO 17025 accredited cannabis testing lab providing sector-leading analytical services and has partnered with Thermo Fisher Scientific to develop a Centre of Excellence in Plant-Based Science. For more information, please visit http://valensgroworks.com. The Company’s investor deck can be found specifically at http://valensgroworks.com/investors/

Notice regarding Forward Looking Statements

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

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

SOURCE Valens GroWorks Corp.

For further information: Scott Young, Valens GroWorks Corp., Telephone: +1.705.888.2756; U.S. / Europe Investors, KCSA Strategic Communications, Phil Carlson / Elizabeth Barker, VGW@kcsa.com, +1 212.896.1233 / +1 212.896.1203; Media, KCSA Strategic Communications, Anne Donohoe, adonohoe@kcsa.com, +1 212.896.1265

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GATINEAU, Quebec, Oct. 16, 2019 (GLOBE NEWSWIRE) — According to Statistics Canada’s latest National Cannabis Survey (published on August 15, 2019), almost half—over 40%—of Canadians continue to purchase cannabis from illegal sources, with price being one of the major factors that drive them to the black market. But do they realize that the cannabis they are purchasing is illegal, unregulated, and not tested? That’s what HEXO Corp (“HEXO” or the “Company”) (TSX:HEXO; NYSE:HEXO) set out to quantify.

“It is becoming increasingly difficult for the average consumer to distinguish products that are legal, versus those that are not. Illicit cannabis distributors have gone as far as include the mandated Health Canada warnings and THC disclaimers,” said Sebastien St-Louis, HEXO Corp’s CEO and co-founder. “Illegal cannabis websites are well built, allow consumers to purchase online, and products are delivered to their doors. But we know that illegal cannabis products can—and often—contain heavy metals, pesticides, and other contaminants, and that concerns me deeply.”

HEXO is committed to playing an important role in eliminating the black market and in protecting public health and safety, and to this end is pleased to announce the launch of Original Stash, its new value brand. Adult-use consumers will now be able to purchase 28 grams (1 oz) at black market prices, at a retail price in Quebec of $125.70 including sales taxes, equivalent to $4.49 a gram all in.

Original Stash’s first product, OS.210, is offered as a hybrid sativa dried flower blend at 12%-18% THC. Original Stash comes in odour-proof and resealable packaging and will be available in SQDC retail stores on October 17, 2019. The product will roll out in the rest of Canada soon after.

“Our aim with Original Stash is to disrupt the illicit market, educate consumers about the value of a regulated and tested product, and drive them to purchase their cannabis legally,” added St-Louis. “We’re now competing directly with the illicit market and providing consumers with an affordable, controlled, quality product. Moreover, we are giving consumers the option of less packaging in a 1 oz format, which we know is a priority for so many.”

A national survey conducted by Abacus Data found that one third of Canadians who purchase cannabis edibles and topicals are not aware that the products they are purchasing are distributed unlawfully. A follow-up survey conducted by Abacus Data found that one in five Canadians who purchased dried flower or capsules from an illegal online retailer was not aware that it was illegal for them to do so.

Moreover, the initial survey found that:

• 15% of Canadians say they have purchased dried flower since legalization and 4% purchased capsules.
• 55% purchased in a physical retail store, 28% in a legal online store.
• But 1 in 5 say they purchased on “another online store or website” and 31% purchased from “another source” – i.e. a black market source

About the Surveys

The survey, Awareness of the Law Related to Purchasing Cannabis, was conducted online with 2,347 Canadian adults, from Oct 8th to 10th, 2019. A random sample of panelists were invited to complete the survey from a set of partner panels based on the Lucid exchange platform. These partners are typically double opt-in survey panels, blended to manage out potential skews in the data from a single source. The margin of error for a comparable probability-based random sample of the same size is +/- 2.02%, 19 times out of 20. The data were weighted according to census data to ensure that the sample matched Canada’s population according to age, gender, educational attainment, and region. Totals may not add up to 100 due to rounding.

The survey, Use of Edibles and Topicals and Awareness of the Law Related to Them, was conducted online with 3,049 Canadian adults, from Aug 23rd to 28th, 2019. A random sample of panelists were invited to complete the survey from a set of partner panels based on the Lucid exchange platform. These partners are typically double opt-in survey panels, blended to manage out potential skews in the data from a single source. The margin of error for a comparable probability-based random sample of the same size is +/- 1.8%, 19 times out of 20. The data were weighted according to census data to ensure that the sample matched Canada’s population according to age, gender, educational attainment, and region. Totals may not add up to 100 due to rounding.

About HEXO Corp
HEXO Corp is an award-winning consumer packaged goods cannabis company that creates and distributes innovative products to serve the global cannabis market. Through its hub and spoke business strategy, HEXO Corp is partnering with Fortune 500 companies, bringing its brand value, cannabinoid isolation technology, licensed infrastructure and regulatory expertise to established companies, leveraging their distribution networks and capacity. As one of the largest licensed cannabis companies in Canada, HEXO Corp operates with 2.4 million sq. ft of facilities in Ontario and Quebec. The Company is also expanding internationally and has a foothold in Greece to establish a Eurozone processing, production and distribution centre. The Company serves the Canadian adult-use markets under its HEXO Cannabis and Up Cannabis brands, and the medical market under HEXO medical cannabis. For more information please visit hexocorp.com.

Forward-Looking Statements
This press release contains forward-looking information and forward-looking statements within the meaning of applicable securities laws (“forward-looking statements”). Forward-looking statements are based on certain expectations and assumptions and are subject to known and unknown risks and uncertainties and other factors that could cause actual events, results, performance and achievements to differ materially from those anticipated in these forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results. A more complete discussion of the risks and uncertainties facing the Company appears in the Company’s Annual Information Form and other continuous disclosure filings, which are available on SEDAR at www.sedar.com and EDGAR at www.sec.gov. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements as a result of new information or future events, or for any other reason.

Investor Relations:
Jennifer Smith
1-866-438-8429
invest@HEXO.com
www.hexocorp.com

Media Relations:
Caroline Milliard
(819) 317-0526
media@hexo.com

Two photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/19400150-45a1-4ef0-b456-3a1ae144e562

https://www.globenewswire.com/NewsRoom/AttachmentNg/d14c5025-3f54-481b-9a0d-3aac10176780

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Stand-alone centre capable of processing and storing more than 40 tons of dried cannabis

TORONTO, Oct. 16, 2019 (GLOBE NEWSWIRE) — WeedMD Inc. (WMD.V) (WDDMF) (4WE.F) (“WeedMD” or the “Company”), a federally-licensed producer and distributor of medical-grade cannabis, is pleased to announce that it has secured a Health Canada licence amendment approval for its purpose-built processing facility in Strathroy, Ontario. The stand-alone, 50,000 sq. ft. custom-built structure, located on WeedMD’s 158-acre Strathroy property, will dry, process and cure all remaining outdoor-cultivated cannabis in 2019 and is built to process and store more than 40 tons of dried cannabis biomass. Latest Outdoor Grow video here.

“With the pace of our outdoor harvest now accelerating, this licence amendment comes at the perfect time,” said Keith Merker, CEO of WeedMD. “The harvest has been very successful so far and this represents another milestone as we continue to disrupt traditional modes of cultivation. WeedMD now expects to take a leadership position in Canada for low-cost, high-cannabinoid biomass.”

About WeedMD Inc.

WeedMD Inc. is the publicly-traded parent company of WeedMD Rx Inc., a federally-licensed producer of cannabis products for both the medical and adult-use markets. The Company owns and operates a 158-acre state-of-the-art greenhouse, outdoor and processing facility located in Strathroy, ON. The Company also operates CX Industries, a wholly-owned subsidiary of WeedMD Inc. CX operates out of the Company’s fully-licensed 26,000 sq. ft. Aylmer, Ontario production facility which specializes in cannabis extraction and processing. 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 where WeedMD’s adult-use brand Color Cannabis is sold.

Follow WeedMD & Color Cannabis: 

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/ & https://www.instagram.com/callitcolor/

For further information, please contact:

WeedMD Inc.

For Investor Inquiries:

James Williams
Director, Capital Markets
Email: investor@weedmd.com

For Media Inquiries:

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

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

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.

The post WeedMD Secures Health Canada Licence for 50,000-Square-Foot Purpose-Built Cannabis Processing Facility appeared first on CannabisFN.

VANCOUVER, British Columbia, Oct. 16, 2019 (GLOBE NEWSWIRE) — Emerald Health Therapeutics’ (“Emerald”)(TSXV: EMH; OTCQX: EMHTF) wholly-owned production facility, Verdélite, in St. Eustache, Québec, has received from Health Canada its license amendment permitting it to sell and distribute packaged, branded dried cannabis products directly to provincial/territorial wholesalers and authorized private retailers in accordance with provincial/territorial frameworks in Canada. To date, Verdélite has been packaging product under the Emerald brand. Moving forward, its marketing strategy will evolve and focus on building multiple differentiated brands, with a unique Quebec identity, targeting consumers seeking premium cannabis for adult use as well as health and wellness benefits.

“There is no brand we’re aware of that has been crafted to serve the Quebecois community. With this license, Verdélite will transition into its commercial phase where it cultivates unique cannabis strains grown in Québec and brands designed to build a dedicated relationship with Quebec cannabis customers,” said Thierry Schmidt, President of Verdélite. “Verdélite was built to bring to the market premium craft cannabis products particularly for Québec consumers, but which, much as with other consumer product categories, also hold appeal outside Québec. We believe this is a significant market opportunity that we can strongly serve with the type of products and brands that Verdélite will roll out in the next months.”

“The premium cannabis consumer market segment that we are targeting to serve in Québec with our distinctive cannabis strains perfectly matches our expertise in production and highly-controlled environment in our indoor facility,” said Riaz Bandali, Chief Executive Officer of Emerald. “Québec is the Canadian province with the second largest population and the exclusive provincial distributor, the Société Québécoise du Cannabis (SQDC), sold 27 million grams of cannabis since legalization and plans to double the number of Québec outlets during the next six months. We look forward to serving this important Canadian marketplace and this distinctive customer base.”

Just last week, Verdélite’s indoor facility received its amendment to its original license allowing cultivation in the 50,000 square foot growing and processing area of its 88,000 square foot indoor facility, allowing it to expand production from 4 to 21 highly-controlled-environment grow rooms and 16 processing rooms. The newly licensed area is expected to be fully planted in eight weeks. Moreover, Verdélite’s established packaging and processing line are well equipped to manage the desired production volume and a wide diversity of value-added products.

About Emerald Health Therapeutics, Inc.

Emerald Health Therapeutics, Inc. is a Canadian licensed producer of cannabis products, with targeted strategic initiatives and assets focused on differentiated, value-added product development for medical and adult-use customers supported by novel intellectual property, large-scale cultivation, extraction, and softgel encapsulation, as well as unique marketing and distribution channels. Its 50%-owned Pure Sunfarms operation in British Columbia has reached its full run-rate annual production of approximately 75,000 kg in its first 1.1 million square foot greenhouse Delta 3 operation; its second 1.1 million square foot greenhouse, Delta 2 operation, is planned to be in full production by the end of 2020. Emerald’s two wholly-owned facilities, a high-quality indoor growing and processing facility in Québec and an organic greenhouse and outdoor operation in British Columbia, are transitioning into production. Emerald has also contracted for approximately 1,000 acres of hemp annually in 2019 to 2022 with the objective of extracting low-cost CBD. The executive team is highly experienced in life sciences, product development, large-scale agri-business, and marketing.

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

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

Emerald Investor Relations
(800) 757 3536 Ext. #5
invest@emeraldhealth.ca

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.

Cautionary Note Regarding Forward-Looking Statements: Certain statements made in this press release that are not historical facts are forward-looking statements and are subject to important risks, uncertainties and assumptions, both general and specific, which give rise to the possibility that actual results or events could differ materially from our expectations expressed in or implied by such forward-looking statements. Such statements include obtaining required regulatory approvals; production and processing capacity of various facilities; expansion of facilities; obtaining additional cultivation licenses and other permits; production at various facilities; receipt of hemp deliveries; entering into of strategic agreements; payments of amounts owed to and owed by Emerald; transplanting crops; obtaining final municipal approvals; assessment of cultivation and harvesting techniques; scale up of reliable, quality low-cost cannabis; and anticipated production costs.

We cannot guarantee that any forward-looking statement will materialize, and readers are cautioned not to place undue reliance on these forward-looking statements. These forward-looking statements involve risks and uncertainties related to, among other things, changes of law and regulations; changes of government; failure to obtain regulatory approvals or permits; failure to obtain necessary financing; results of production and sale activities; results of scientific research; regulatory changes; changes in prices and costs of inputs; demand for labour; demand for products; failure of counter-parties to perform contractual obligations; as well as the risk factors described in the Company’s annual information form and other regulatory filings. The forward-looking statements contained in this press release represent our expectations as of the date hereof. Forward-looking statements are presented for the purpose of providing information about management’s current expectations and plans and allowing investors and others to obtain a better understanding of our anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes. The Company undertakes no obligations to update or revise such statements to reflect new circumstances or unanticipated events as they occur, unless required by applicable law.

The post Emerald Health Therapeutics’ Québec Premium Cannabis Operation Receives Sale License Amendment, Allowing Direct Sales of Branded Products appeared first on CannabisFN.

Sherbrooke facility to reach annual run-rate of 200,000 kg by the end of November

LAVAL, QC, Oct. 16, 2019 /PRNewswire/ – Neptune Wellness Solutions Inc. (“Neptune” or the “Company”) (NASDAQ: NEPT) (TSX: NEPT) is pleased to announce that its Sherbrooke, Quebec facility started to process biomass using its new cold ethanol equipment. The first shipments of cannabis extracts produced with our ethanol equipment are expected in the coming weeks once the final release testing is completed on the first batches that have been extracted. Combined with Neptune’s CO₂ extraction line, the Company’s capacity to process biomass is expected to reach an annual run rate of 200,000 kg by the end of November. As indicated previously, Neptune’s current capacity, including the phase II expansion, is fully committed to existing clients.

Starting with Phase II and going forward, Neptune has opted for cold ethanol technology, which could be up to 5x faster than our CO₂ equipment and which consumes up to 2x less energy than our CO₂ technology. Our cold ethanol process combined with the high level of automation of Neptune’s Sherbrooke facility should position the Company as a low-cost manufacturer in Canada. Additionally, in recent weeks, we have received additional security clearance from Health Canada for our production personnel which should alleviate operational constraints.

“The Phase II cold ethanol production was completed on budget and is another important milestone in our capacity expansion strategy. We are currently working on Phase IIIa which will bring total annual extraction capacity to 1,500,000 kg. This capacity expansion is necessary to support the execution of Neptune’s growth strategy to become a global leader in cannabis extraction and purification while meeting the growing demand from consumers for natural products. With our diverse base of 100+ customers across North America in multiple verticals, including legal cannabis and hemp, nutraceutical, and consumer packaged goods, Neptune is well positioned to execute on its growth plans,” said Michael Cammarata, Neptune’s CEO.

About Neptune Wellness Solutions Inc.
Neptune Wellness Solutions specializes in the extraction, purification and formulation of health and wellness products. The Company has in excess of 100 customers across several verticals including legal cannabis and hemp, nutraceutical and CPG. Neptune’s wholly owned subsidiary, 9354-7537 Québec Inc., is licensed by Health Canada to process cannabis at its 50,000-square-foot facility located in Sherbrooke, Quebec. The Company also has a 24,000 square-foot facility located in North Carolina to process hemp biomass into extracts. Neptune brings decades of experience in the natural products sector to the legal cannabis and hemp industries. Leveraging its scientific and technological expertise, the Company sees applications for hemp-derived extracts in the U.S. beyond existing markets and product forms and into personal care and home care markets. Neptune’s activities also include the development and commercialization of turnkey nutrition solutions and patented ingredients such as MaxSimil®, and a variety of marine and seed oils. Its head office is located in Laval, Quebec.

Forward Looking Statements

Statements in this press release that are not statements of historical or current fact constitute “forward-looking statements” within the meaning of the U.S. securities laws and Canadian securities laws. Such forward-looking statements involve known and unknown risks, uncertainties, and other unknown factors that could cause the actual results of Neptune to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms “believes”, “belief”, “expects”, “intends”, “projects”, “anticipates”, “will”, “should”, “likely” or “plans” to be uncertain and forward-looking. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.

The forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement and the “Cautionary Note Regarding Forward-Looking Information” section contained in Neptune’s latest Annual Information Form (the “AIF”), which also forms part of Neptune’s latest annual report on Form 40-F, and which is available on SEDAR at www.sedar.com, on EDGAR at www.sec.gov/edgar.html and on the investor section of Neptune’s website at www.neptunecorp.com. All forward-looking statements in this press release are made as of the date of this press release. Neptune does not undertake to update any such forward-looking statements whether as a result of new information, future events or otherwise, except as required by law. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in Neptune public securities filings with the Securities and Exchange Commission and the Canadian securities commissions. Additional information about these assumptions and risks and uncertainties is contained in the AIF under “Risk Factors”.

Neither NASDAQ nor the Toronto Stock Exchange accepts responsibility for the adequacy or accuracy of this release.

SOURCE Neptune Wellness Solutions Inc.

Related Links

https://neptunecorp.com

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SOL Global Will Change its Name to “Bluma Wellness Inc.” to Reflect Continued U.S. Expansion

“One Plant” Will Become the Company’s Brand Name for All Anticipated 49 Retail Locations and Home Delivery

TORONTO, Oct. 16, 2019 /CNW/ – SOL Global Investments Corp. (“SOL Global” or the “Company“) (CSE: SOL) (OTCPK: SOLCF) (Frankfurt: 9SB), an international company focused on cannabis and cannabis-related ventures, is pleased to announce the results of its special meeting of shareholders held on October 15, 2019 (the “Meeting“). Shareholders representing approximately 99.299% of votes cast at the Meeting, by proxy or in person, approved a special resolution authorizing the Company to amend its articles to change its name from “SOL Global Investments” to “Bluma Wellness Inc.” (the “Name Change“). The Company expects the Name Change and a change to its ticker symbol to occur in the coming weeks. The common shares of the Company will continue to trade on the CSE under its existing trading symbol, SOL.

The Company is also pleased to announce that shareholders representing approximately 99.323% of votes cast at the Meeting, by proxy or in person, approved a change of business of the Company from an “investment company” to a “life sciences issuer” that will operate as a U.S. multi-state cannabis operator (“MSO“). The Company expects the change of business to occur in the coming months.

The Name Change reflects the Company’s transition from an international cannabis investment company to that of an MSO under the life sciences category of the CSE, as had been previously announced by the Company on August 8, 2019. With fully operational GMP and GAP certified cultivation and processing facilities, its first two dispensary sites opening this month and the roll out of its proprietary home delivery model in Florida, Bluma has already positioned itself for solid growth and the capture of market share in Florida. Additionally the expected acquisitions in California of ECD Inc. (operating as “Northern Emeralds“), an acclaimed craft cultivator and processor of premium cannabis flower based in Humboldt County, the One Plant chain of dispensaries, plus the expected acquisition in Michigan of MCP Wellness Inc. (“MCP Wellness“) and its operating dispensaries (plus its cultivation licenses and approved dispensary licenses) will position Bluma Wellness as a new breed of MSO that is laser-focused on product quality and operational efficiencies. Bluma Wellness intends to be one of the few MSOs to embrace and deploy responsible scaling of its operations and EBITDA generation, and just as importantly, will remain true to its mission of producing the highest quality cannabis flower in the United States.

“All of the strategic investments into cannabis brands and operations in Florida and the proposed investments in California and Michigan that were made by our team over the past year will pave the way for this transition to becoming a MSO,” said Bluma Wellness’ interim chair and CEO Brady Cobb. “We have assembled an incredibly talented and seasoned management team that is excited to operate and responsibly scale up both Bluma’s cultivation, processing and dispensing operations in Florida and the proposed operations in Michigan and California, which represent three (3) of the biggest markets by revenue, as well as Bluma’s portfolio of some of the strongest brands in the sector including Northern Emeralds, Old Pal, Venice Cookie Company and others. I am beyond thrilled to be able to bring these assets together and execute upon our strategic operations plan in Q4 and beyond.”

CORPORATE UPDATE:

Operations:

SOL Global’s strategic investments and expected acquisitions in key states this year have built out the necessary infrastructure to support the Company’s multi-state operation.

As previously announced, SOL Global signed a binding letter of intent (“LOI“) to acquire six licensed cannabis dispensary companies and all One Plant intellectual property in California that it expects will operate under the nationally recognized “One Plant” brand. In line with Bluma Wellness’ expansion, 3 Boys Farm LLC in Florida (“3 Boys Farms“), which the Company previously acquired through a majority stake, has begun the integration of the One Plant branding with their Florida customer base. “One Plant”, once fully integrated, will become the brand name of all of Bluma Wellness’s anticipated 49 retail stores spread throughout Florida as well as Bluma’s proprietary home delivery service, and expected throughout Michigan and California following these acquisitions.

The Company expects that Northern Emeralds, an industry leading cannabis cultivation, processing and distribution company headquartered in Humboldt County, California, and Michigan-based MCP Wellness, which operates retail and cultivation centers in Michigan, will, if successfully acquired, also fall under Bluma Wellness.

3 Boys Farm:

SOL Global’s Florida asset, 3 Boys Farms, has rolled out a few strategic initiatives including a proprietary delivery model and new product releases. A press release will be forthcoming that details the success of those initiatives. Stay tuned.

About SOL Global Investments Corp.
SOL Global is an international investment company with a focus on investing in cannabis and cannabis related companies in legal U.S. states, the hemp and CBD marketplaces and the emerging European cannabis and hemp marketplaces with an objective of providing shareholders with a long term return through capital appreciation, dividends and interest from its investments. If the Company believes there is a strategic reason to do so, it may also invest in companies not in the cannabis sector.

Forward-Looking Statements
This news 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.

The forward-looking information contained in this press release includes: the Company’s name change and ticker symbol change, the Company’s change of business to becoming a U.S. multistate cannabis operator, the Company’s efficient scaling of its operations, generation of EBITDA through operational efficiencies and production of one of the highest quality cannabis flower in the United States, the acquisition of six-licensed cannabis dispensary companies, the acquisition of One Plant intellectual property and its use across 49 retail stores, the acquisitions in Michigan and California, the opening of retail stores in Florida, Michigan and California, and information relating to the commencement, termination and manner of the normal course issuer bid. Forward-looking information is 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 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, which has 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.

The securities referred to in this news release have not been and will not be registered under the United States Securities Act of 1933, as amended (“U.S. Securities Act“), or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent such registration or an applicable exemption from the registration requirements of the U.S. Securities Act. This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities.

SOURCE SOL Global Investments Corp.

For further information: SOL Global Investments Corp., Brady Cobb, CEO, Phone: (212) 729-9208, Email: info@solglobal.com; Media Contact: Davis Richardson, Davis@amwpr.com, 212.542.3146

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TORONTO, Oct. 16, 2019 (GLOBE NEWSWIRE) — MediPharm Labs Corp. (TSX: LABS) (OTCQX: MEDIF) (FSE: MLZ) (“MediPharm Labs” or the “Company”) a global leader in specialized, research-driven cannabis extraction, distillation, purification and cannabinoid isolation, is pleased to announce its wholly-owned subsidiary, MediPharm Labs Inc. (“MediPharm”), has signed a private label cannabis concentrate supply agreement with Olli Brands Inc. (“Olli”), an innovative leader in the creation and food-grade manufacturing of premium, smoke-free cannabis-infused edibles and teas.

Under the 18-month supply agreement, MediPharm will provide high-quality cannabis distillate and crude to Olli upon its commercial licensing. Olli will utilize MediPharm’s products to infuse its line of curated edibles created by Olli’s renowned Michelin-trained chef Adrian Niman of The Food Dudes and its family of teas designed by renowned tea specialist Richard Guzauskas, head of blend development for a major North American tea retailer and founder of Leaves Pure Tea. Olli currently holds a research licence under the Cannabis Act and is awaiting final approval for its standard processing licence prior to commercializing its line of edible and tea-based products.

This agreement demonstrates the demand for MediPharm Labs’ cannabis extracts for use as input products in the manufacturing of the second wave of Canadian recreational cannabis products (“Cannabis 2.0”) expected to hit shelves at the end of this year.

“The culinary lifestyle market is the next frontier for MediPharm Labs and we can’t think of a better way to enter this important new category than through this exciting collaboration with Olli and its team of experts,” said Patrick McCutcheon, Chief Executive Officer of MediPharm Labs. “According to Statistics Canada, quality and safety are leading purchase considerations for Canadians when selecting their cannabis products. Based on the rigorous approach we take to product design, development, testing and precision manufacturing, our B2B customers can trust that our input products used for cannabis beverages and edibles will set the industry standard for premium quality, reliability and taste.”

“Olli is thrilled to be partnering with the unparalleled leader in pharmaceutical-like cannabis extraction,” said Sarah Gillin, Co-Founder and Chief Operating Officer of Olli. “MediPharm Labs’ commitment to excellence aligns perfectly with Olli’s goal to be the leader in premier curated cannabis infused teas and edibles.  We couldn’t be more excited to be moving forward with this partnership.”

MediPharm Labs will supply cannabis concentrates to Olli from its purpose built 70,000 square foot GMP-designed production facility in Barrie, Ontario. The facility features ISO-standard clean rooms, critical environment laboratories, commercial-grade distillation, chromatography R&D and supercritical CO₂ primary extraction lines, each assigned to specific customer batches. The facility recently received Organic Certification from Pro-Cert Organic Systems Ltd., one of North America’s leading certifiers of organic products. This certification assists in extending MediPharm Labs’ capabilities to include the production of bulk wholesale organic extracts and oil for use as ingredients in finished cannabis concentrate derivatives such as edibles, extracts, topicals and oil products.

A Trusted Supply Chain
MediPharm Labs places a premium on production quality and the integrity of its supply chain. The Company utilizes standardized operating procedures and meticulous record keeping ensuring repeatability of manufacturing in every batch, which leads to consistent and trusted products for its customers to utilize in their manufacturing processes. To achieve this, MediPharm Labs employs highly experienced experts across a number of core disciplines.

“MediPharm Labs is ready to help Olli give Canadians the low-dose, curated cannabis infused edibles and beverages they can trust,” said Mr. McCutcheon. “We are delighted to be part of this category-defining collaboration and view this supply agreement as demonstrating the suitability of our cannabis concentrates for these Cannabis 2.0 product categories.”

About Olli
Olli is a Toronto, Ontario-based cannabis-infused product manufacturer working with best-in-class suppliers using quality ingredients to offer premium-grade cannabis products. Founded by friends John B. Aird and Sarah Gillin in 2017, out of an idea to enjoy smoke-free cannabis products, Olli was created by friends, for friends, to provide a thoughtfully curated, health-minded, enjoyable and safe way to consume cannabis goods. Olli’s product line includes quality edibles curated by award-winning and Michelin-starred restaurant-trained chef Adrian Niman of the Food Dudes, and cannabis-infused teas developed by famed tea specialist Richard Guzauskas. Olli’s products will be manufactured at Olli’s facility located in Etobicoke, Ontario. Once legalized, Olli products will be sold across provincially licenced retailers in Canada.

All information contained in this press release with respect to Olli and its future plans was supplied by Olli for inclusion herein.

About MediPharm Labs
Founded in 2015, MediPharm Labs specializes in the production of purified, pharmaceutical-like cannabis oil and concentrates and advanced derivative products utilizing an organically certified, Good Manufacturing Practices designed facility and ISO standard built clean rooms. MediPharm Labs has invested in an expert, research driven team, state-of-the-art technology, downstream purification methodologies and purpose-built facilities with five primary extraction lines having 300,000 kg of annual processing capacity to deliver pure, safe and precisely dosed cannabis products for its customers. Through its wholesale, white label and tolling platforms, they formulate, process, package and distribute cannabis extracts and advanced cannabinoid-based products to domestic and international markets. As a global leader, the Company also completed commercial exports to Australia and is nearing completion of its Australian extraction facility expected in 2019 with 75,000 kg of annual processing capacity.

For further information, please contact:

MediPharm Labs
Laura Lepore, VP, Investor Relations
Telephone: 705-719-7425 ext 216
Email: investors@medipharmlabs.com
Website: www.medipharmlabs.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 of 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 to, among other things, supply of distillate and crude to Olli upon Olli’s commercial licensing, manufacture by Olli and other third-parties of Cannabis 2.0 products using MediPharm’s inputs, production capabilities of MediPharm related to organic product, the legality of new cannabis-derived products and timing thereof, the completion of the Australian facility and the processing capacity of the Australian facility. 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; the inability of MediPharm Labs to obtain adequate financing; the delay or failure to receive regulatory approvals; and other factors discussed in MediPharm Labs’ filings, available on the SEDAR website at www.sedar.com. 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 the forward-looking statements and information contained in this news release. Except as required by law, MediPharm Labs assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change.

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TORONTO, Oct. 15, 2019 /CNW/ – Avicanna Inc. (“Avicanna” or the “Company“) (TSX: AVCN) (OTCQX: AVCNF), a biopharmaceutical company focused on the development, manufacturing and commercialization of cannabinoid-based products, is pleased to announce that its common shares will commence trading today on the OTCQX® Best Market in the United States under the symbol “AVCNF”.

The OTCQX Best Market provides added service, value and convenience to U.S. investors, brokers and institutions seeking to trade Avicanna shares. OTCQX is OTC Markets Group’s premier market for established, investor-focused U.S. and international companies. To be eligible, companies must meet high financial standards, follow best practice corporate governance, demonstrate compliance with U.S. securities laws, be current in their disclosure, and have a professional third-party sponsor introduction.

“Trading on the OTCQX Market represents a significant step in Avicanna’s capital markets strategy and journey to become an international leader in the biopharmaceutical industry. The achievement will allow us increased access to the U.S. capital markets and industry participants with extensive experience in evaluating pharmaceutical companies. Trading on OTCQX is also expected to provide a streamlined process for U.S. investors to transact in our securities and enhanced liquidity for all shareholders,” stated Setu Purohit, President of Avicanna Inc.

About Avicanna

Avicanna is an Ontario corporation focused on the development, manufacturing and commercialization of plant-derived cannabinoid-based products through its two main business segments, cultivation and research and development.

Avicanna’s two majority-owned subsidiaries, Sativa Nativa S.A.S. and Santa Marta Golden Hemp S.A.S., both located in Santa Marta, Colombia are the base for Avicanna’s cultivation activities. These two companies are licensed to cultivate and process cannabis for the production of cannabis extracts and purified cannabinoids including cannabidiol (CBD) and tetrahydrocannabinol (THC).

Avicanna’s research and development business is primarily conducted out of Canada at its headquarters in the Johnson & Johnson Innovation Centre, JLABS @ Toronto. Avicanna’s scientific team develops products, and Avicanna has also engaged the services of researchers at the Leslie Dan Faculty of Pharmacy at the University of Toronto for the purpose of optimizing and improving upon its products.

Avicanna’s research and development and cultivation activities are focused on the development of its key products, including plant-derived cannabinoid pharmaceuticals, phyto-therapeutics, derma-cosmetics and Extracts (defined as plant-derived cannabinoid extracts and purified cannabinoids, including distillates and isolates), with a goal of eventually having these products manufactured and distributed through various markets.

Stay Connected

For more information about Avicanna, visit www.avicanna.com, call 1-647-243-5283, or contact Setu Purohit, President by email info@avicanna.com.

Cautionary Note Regarding Forward-Looking Information and Statements

Certain information in this press release contains forward-looking statements. Such statements include but are not limited to the expected benefits from the commencement of trading on the OTCQX Market. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict, including the risk factors set out under the heading “Risk Factors” in the Company’s long form final prospectus dated July 8, 2019. Actual results might differ materially from results suggested in any forward-looking statements. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements, unless and until required by securities laws applicable to the Company.

SOURCE Avicanna Inc.

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