November 13, 2018
Corporate News
Rubicon Organics Inc.’s 40,000 sq. ft. high-tech Washington Greenhouse Facility Receives Cannabis Licensing: Rubicon Organics Inc. (CSE: ROMJ) (OTCPK: RBOGF) announced that the Washington State Liquor and Cannabis Board (LCB) has granted a transfer of a tier 3 marijuana producer and processor license to the tenant of its 40,000 sq. ft. high-tech greenhouse facility. The greenhouse tenant is preparing to commence production in the next month and will be utilizing Rubicon Organics’ proprietary growing methodology to produce premium quality, organic cannabis at low cost without any chemical fertilizers or pesticides. Rubicon Organics lease payments from the facility commence in 2019. Rubicon Organics’ purpose built, high-tech greenhouse facility in Ferndale, Washington, is capable of producing 4,500 kg per year of premium organic cannabis. The 40,000 sq. ft. facility has 30,000 sq. ft. of canopy for organic cannabis cultivation and a 10,000 sq. ft. processing area. www.newswire.ca
WeedMD Secures Cannabis Sales Licence for its Large Scale State-of-the-Art Greenhouse: WeedMD Inc. (TSXV:WMD) (OTCQX: WDDMF) has secured a licence from Health Canada to sell cannabis cultivated at its greenhouse facility in Strathroy, Ontario. The original licence, issued under the ACMPR, was successfully migrated to a licence under the Cannabis Act and its regulations. The sales licence allows the Company to transport cannabis from its Strathroy greenhouse to its nearby indoor facility in Aylmer, Ontario for packaging and distribution to its medical and adult-use customers. www.globenewswire.com
LGC Capital to acquire 47% of EasyJoint, Italy’s largest vertically-integrated legal cannabis producer, distributor, and retailer. LGC Capital Ltd. (TSXV: LG) (OTCPK: LGGCF) has entered into a formal definitive agreement to acquire 47% of EasyJoint Project SRL, an Italian company, for a total cash and share consideration of €4.788 million (C$7.153 million at today’s exchange rate of 1 EUR = 1.494 CAD). EasyJoint is widely recognized as the market leader in Italy, controlling approximately 85% of the distribution of legal “cannabis light” retail products in Italy and distributed in over 450 retail points of sale. For the 10 months prior to October 31, 2018, unaudited revenues have grown to over €4 million (C$6 million) with margins of 19.7%, which will increase as EasyJoint achieves economies of scale through expansion. www.newswire.ca
Green Thumb Industries Inc Expands With The Acquisition Of Integral Associates: Green Thumb Industries (GTI) (CSE: GTII) (OTCQX: GTBIF) has signed a definitive agreement to acquire 100% of Integral Associates. The acquisition includes:
- Integral Associates’ retail brand Essence, which currently operates three high-traffic locations across the Las Vegas Valley
- Desert Grown Farms, a 54,000 square foot state-of-the-art cultivation and processing facility with an award-winning genetics library of 100+ strains
- Cannabiotix NV, a 41,000 square foot cultivation and processing facility which has been a recognized High Times Cannabis Cup award winner several times over
The transaction is valued at approximately $290 million, The transaction is expected to close in the first half of 2019, subject to customary regulatory approvals. globenewswire.com
MariMed Enters Fast-Growing Hemp CBD World Market in Partnership with GenCanna Global: MariMed Inc. (OTCQB: MRMD) and GenCanna Global Inc. announced that the companies have entered into an agreement whereby MariMed has invested $30 million in GenCanna, and the companies have created a strategic partnership, including a long-term supply agreement. The partnership expands MariMed’s robust product development capabilities and strengthens GenCanna’s position as a global leader in the Hemp CBD industry. MariMed, a multi-state operator that develops and manages cannabis facilities and branded product lines, intends to create a product and branding business unit focused on the development and distribution of Hemp CBD-derived products. GenCanna is deploying the proceeds of the investment to dramatically expand its production capacity, and extend its position as the global leader in high-quality hemp CBD production, with fully legal sales throughout the U.S. and internationally. GenCanna has assembled top-quality genetics for cultivating hemp, and has established production processes that meet or exceed Good Manufacturing Practices (GMP) standards, as well as the highest FDA standards. globenewswire.com
FSD Pharma Receives License to Sell to Other Licensed Producers and Expands Growth Production Footprint: FSD (CSE:HUGE) (OTCQB: FSDDF) announced that the license of its wholly-owned subsidiary, FV Pharma Inc. ACMPR has been migrated to the Cannabis Act and its regulations, effective November 8, 2018. The issuance of the new cannabis license includes the ability to sell cannabis to other licensed producers in accordance with subsection 11(5) of the Cannabis Regulations. As of November 7, 2018, FV Pharma also received license amendments approving all of the remaining 25,000 square feet currently built out for additional grow and operations. The Company continues to move aggressively to achieve its next significant development of a further production footprint of 220,000 square feet. www.businesswire.com
Province Brands of Canada announces agreement with Brock Street Brewing Company: Province Brands of Canada — the Canadian company developing the world’s first beers brewed from the cannabis plant, including nonalcoholic beers which intoxicate using THC and other phytocannabinoids (to be released only when and where the sale of marijuana beverages are permitted by law) and Cambridge Bay Imperial Pilsner , a first-of-its-kind, 7% ABV imperial pilsner brewed from hemp in place of barley (which does not contain marijuana) — announces a co-packing and licensing agreement with Brock Street Brewing Company, an award-winning craft brewery in Whitby, Ontario. The agreement will allow Brock Street Brewing Company to license Province Brands of Canada’s patent-pending technology to launch two new beers under Brock Street Brewing Company. The first will be an alcohol beer brewed from hemp (which contains no marijuana) and the second will be a nonalcoholic beer brewed from cannabis, which intoxicates using THC and other phytocannabinoids. The cannabis-brewed beer will be brewed at Province Brands of Canada’s facility only once the manufacture and sale of such products are legalized in Canada. www.newswire.ca
Beleave Introduces 90 New Cannabis Varieties as it Secures Genetics Acquisition Agreements: Beleave Inc. (CSE: BE) (OTCQX: BLEVF) announced that it has secured genetics acquisition agreements for a broad range of cannabis seed varieties from diverse lineages. There will be a total of 90 new varieties introduced in the coming year that have been selected to cover the entire spectrum of low, intermediate, and high THC and CBD profiles. The list includes well-known classic Sativa and Indica varieties with applications for both medical and adult recreational markets. Also included in the selection are a number of novel strains, not previously available in the Canadian market, which have been bred for select terpene profiles to offer distinct custom flavours and aromas. www.newswire.ca
Acreage Holdings Named in $400 Million New York Cannabis Lawsuit: A former owner of a company that just missed out on a cannabis license award in New York in 2015 but then was later awarded a license in the second round in 2017, NYCANNA, is suing the company and several other defendants, including Acreage New York LLC, part of Acreage Holdings, a multi-state operator set to debut in public trading on the Canadian Securities Exchange next week. The complaint, filed on behalf of plaintiff EPMMNY LLC, alleges that the owner of 25% of NYCANNA, now doing business as Terradiol New York, made “concerted and illegal efforts to deprive Plaintiff of its rightful twenty-five percent (25%) share ownership of all of the equity.” After NYCanna scored sixth in the 2015 initial NY licensing, EPMMNY, according to its complaint, was “frozen out” in 2016, with its stake reduced initially to 12.5% as NYCANNA merged with defendant NY Medicinal Research & Caring, which included NYCI Holdings, Impire Holdings and Acreage Holdings as investors. Acreage Holdings now owns the entire NYCANNA organization, now known as Terradiol New York. According to the lawsuit, it lacks proper title to this ownership. EPMMNY is seeking no less than $100 million to compensate it for sustained damages as well as punitive damages of at least $300 million. www.newcannabisventures.com
Brink’s Announces Partnership with Canopy Growth: The Brink’s Company (NYSE: BCO), the global leader in total cash management, secure route-based logistics and payment solutions, today announced that its Brink’s Canada subsidiary has entered into a multi-year agreement with Canopy Growth Corporation (TSX: WEED) (NYSE: CGC) to provide secure logistics and cash management services for Canopy Growth’s domestic and international cannabis operations. In addition to providing secure logistics and cash management services, Brink’s and Canopy Growth will develop a cross-selling program that enables Brink’s to provide services to Canopy Growth’s affiliated growers and retail customers. Canopy Growth’s international transportation and security needs will be provided by Brink’s Global Services, a Brink’s subsidiary that provides secure logistics for international shipments of high-value commodities. globenewswire.com
Companies reporting financial results:
- Ascent Industries Corp (ASNT-CSE): Q4/18 (May 31)
- National Access Cannabis Corp. (META-TSXV): Q3/18-Amended (May 31)
- Golden Leaf Holding Inc. (GLH-CSE) – Q3/18 – September 30
- INSYS Therapeutics Inc. (IMSY-NASDAQ) – Q3/18 – September 30
- Cronos Group Inc. (CRPON-TSX) Q3/18 (September 30)
- The Green Organic Dutchman (TGOD-TSX) – Q3/18 (September 30)
- Village Farms International (VFF-TSX) – Q3/18 (September 30)
- Aurora Cannabis Inc. (ACB-TSX) – Q1/19 – October 31
- Auxly Cannabis Group Inc. (XLY-TSXV) Q3/18 – September 30
- Planet 13 Holdings Inc. (PLTH-CSE) – Q3/18 – September 30
The Cannabis Investor is a leading media outlet for Cannabis investment opportunities and breaking industry news.
Join our text message list:
USA: Text potstocks to 313131 to join
CDN: Text potstocks to 393939 to join
Join our email list here: http://eepurl.com/bUSa71
Follow The Cannabis Investor on Social Media
Facebook: https://www.facebook.com/MMJInvestor
Twitter: https://twitter.com/CannaInvestor