November 28, 2018
Company News
Companies reporting financial results:
- 48North Cannabis Corp. (TSXV: NRTN) (OTCPK: NCNNF) Q1/19 – September 30
- Aleafia Health Inc. (TSXV: ALEF) (OTCQX: ALEAF) September 30. Total revenue for the three and nine months was $1.6 million and $3 million, respectively. Q3 2018 revenue was up 36 per cent over Q2 2018
- Benchmark Botatics Inc.(CSE: BBT) (OTCPK: BHHKF) -Q3/18 – Net loss for the Q3/18 was $1,496,008, compared to a net loss of $194,138. On August 31, 2018, Potanicals was issued a license to sell dried cannabis under the ACMPR by Health Canada. Cash position of $1.8 million.
- Canopy Rivers Inc. (TSXV: RIV) (OTCPK: CNPOF) Q2/19 – September 30 – To date, the Company has made investments in 11 companies. Cash balance was $106 million as of August 31, 2018. globenewswire.com
- Charlotte’s Web Holdings, Inc.(CSE: CWEB) (OTCQX: CWBHF) – Q3 revenue of $17.7 million on 57% year-over-year growth. Year-to-date revenue reaches $48.0 million with 34% Adjusted EBITDA. Company’s cash at September 30, 2018 was $79.4 million. newswire.ca
- Curaleaf Holdings Inc. (CSE: CURA) (OTCPK: CURLF) Q3/18 – September 30 – Total revenue for the nine months 2018 was $45.1 million, an increase of 247%, compared to $13.0 million for the same period in 2017. As of September 30, 2018, the Company had $48 million of cash. For the full year 2019, Curaleaf estimates revenue of $400 million enterprise wide, including revenue generated by the non-profits, and free cash flow of $100 million. www.newswire.ca
- Emblem Corporation (TSXV: EMC) (OTCQX: EMMBF) – Q3/18 (September 30)
- Green Thumb Industries (CSE: GTII) (OTCQX: GTBIF) – Q3/18 – Third quarter 2018 revenues increased 344% year-over-year to $17.2 million. Quarter-over-quarter revenues increased 26%. Strong cash position of $150 million. gtigrows.com
- iAnthus (CSE: IAN) (OTCQX: ITHUF) – Q3/18 – Revenue increased 101% quarter-over-quarter, increasing to $1,074,398 in Q3 from $533,545 in Q2. Cash balance is currently $24.3 million. Combined entity (iAnthus/MPS will operate in 10 states and have 14 cultivation/processing facilities and 56 dispensaries. com
- KushCo Holdings (OTCQB: KSHB) Q4/18 – August 31 – 20018 – Revenue was up 177% Year-over-Year to $52.1 million. Cash balance was $13.5 million as of August 31, 2018. globenewswire.com
- MariMed (OTCQB: MRMD) – Q3/18 – September 30
- MJardin Group Inc. (CSE: MJAR) (OTC: MJARF) – Q3/18 – Revenue increased 65.1% to $7.0 million compared to the prior year of $4.3 million. businesswire.com
- Naturally Splendid Enterprises (TSXV: NSP) (OTCQB: NSPDF) – Q3/18 – September 30
- Origin House (CSE: OH) – Q3/18 – Revenue of $6.6 million; growth of 89% over Q2 2018 and 790% over Q3 2017. Strong cash position of $75.3 million. newswire.ca
- TerrAscend Corp. (CSE: TER) (OTCQX: TRSSF) Q3/18 – September 30
- Trulieve Cannabis Corp. (CSE: TRUL) (OTCPK: TCNNF) – Q3/18
Green Axis Closes Share Exchange Agreement and Enters into Letter Agreement for RTO Transaction with Ignite and up to $250m Concurrent Financings: Green Axis Capital Corp. (CSE: ALQ) announced that, further to a news release dated October 12, 2018, the company closed the share exchange agreement dated September 29, 2018 among the company, The Second Share Exchange Transaction is subject to certain closing conditions including the following:
- gross proceeds of the Financings being not less than CAD$140 million;
- the Company changing its name to “Ignite International Brands, Ltd.”newsfilecorp.com
Why water soluble cannabis will change everything: Predictions for both medical and recreational marijuana are often based on the fact that people will want to smoke marijuana. The fact is that evidence points to the opposite. Nobody wants to sit next to cigarette smokers, and marijuana users won’t be treated any differently. This has led to an increased interest in cannabis oils as an alternative but these have proven tricky to dose, due to the fact that oil and water really don’t mix well, so emulsions are required to ensure that the oil can be suspended in liquid. The body treats oil delivered cannabis as a fat molecule, so it makes the onset and offset time very unpredictable. Infuz2O, created by Sproutly Canada Inc. (CSE: SPR), solves this problem. Rather than using emulsions, Sproutly takes advantage of the groundbreaking Aqueous Phytorecovery Process (APP) that first recovers water-soluble phytochemicals before releasing the “free” oils, all without disrupting the molecules. Water solubility provides consumers with a predictable timeframe in how long it will take the effects to kick in, and how long the effects could last. born2invest.com
Aurora Cannabis to Ship Medical Cannabis to the Czech Republic: Aurora Cannabis Inc. (TSX: ACB) (NYSE: ACB) announced that the company has received an export request, has secured the required export permit and has now completed its first shipment of medical cannabis products to the Czech Republic, making this the 21st country in which the company operates. www.newswire.ca
LiveWell Canada Moves Listing to the CSE to Focus on the Global CBD Hemp Market, including the United States: LiveWell Canada Inc. (TSXV: LVWL) (OTCPK: LXLLF) has been approved to list its common shares on the CSE. As a result, the company will voluntarily delist its common shares from the TSXV. With the CSE listing, LiveWell is now positioned to pursue CBD opportunities not only in Canada, but globally. www.newswire.ca
Khiron Life Sciences Enters Peruvian Cannabis Market With Approval For Commercialization Of Kuida® CBD Cosmeceutical Brand: Khiron Life Sciences Corp. (TSXV: KHRN) (OTCQB: KHRNF) has received approval to commercialize and market four key products in the Company’s Kuida® CBD cosmeceutical product line in Peru. This approval brings Kuida® product to a population of 32 Million people in Peru, and with previously announced agreements in Colombia and Mexico, positions the Kuida® brand to now be marketed to a combined population of almost 200 Million in Latin America.. www.newswire.ca
Cannex Capital and 4Front Announce Transformational Business Combination to Create Operations Focused Industry Leader: Cannex Capital (CSE: CNNX) (OTCQX: CNXXF) and 4Front Holdings, LLC have signed a binding letter agreement pursuant to which 4Front has agreed to combine with Cannex. The new combined company will own, operate or manage six existing cultivation and production facilities in Washington, Illinois and Massachusetts and five retail operations in Illinois, Massachusetts, Maryland, and Pennsylvania. 4Front also has licenses or licensing agreements in place that will enable it to open and operate several more dispensaries in Massachusetts, Maryland, and Pennsylvania under the Mission brand, which should bring the total number of related operations to 20 by year-end 2019 within the combined company’s existing asset base. The combined company’s near-term M&A opportunities include ongoing negotiations in California, Michigan, Nevada and Arizona, as well as pending license applications in Ohio, Arkansas and Connecticut. www.cannexcapital.com
Sunniva Announces Acquisition of California Distribution Company to Allow for State-Wide Dissemination of Sunniva Branded Cannabis Products: Sunniva Inc. (CSE: SNN) (OTCQB: SNNVF) announced the acquisition of 100% of LTYR Logistics, LLC, a California-based cannabis distribution company headquartered in San Diego. globenewswire.com
Province Brands of Canada Announces Contract Production Agreement with Georgian Bay Biomed: The Evolution of Cannabis: Province Brands of Canada — the Canadian company developing the world’s first beers brewed from the cannabis plant — today announced a co-packing agreement with Georgian Bay Biomed, a Toronto-based company with a 120,000+ square foot cannabis production facility under construction in Collingwood, Ontario. The agreement will see Province Brands of Canada brew a line of premium non-alcoholic cannabis-powered beers for Georgian Bay Biomed based on Georgian Bay Biomed’s own unique flavour and recipe. Beers brewed using Province Brand’s patent-pending technologies will be brewed from the cannabis plant and will intoxicate using THC and other phytocannabinoids instead of alcohol. www.newswire.ca
DionyMed Holdings Inc. Announces the Closing of Approximately C$35 Million of Private Placement Subscription Receipts and Conditional Listing Approval by the CSE: DionyMed Holdings Inc. , a multi-state cannabis brand and distribution platform has completed the previously announced private placement for aggregate gross proceeds of approximately C$35,000,000. The CSE has provided conditional approval of the listing under the trading symbol “DYME”,. www.newswire.ca
MJardin Group Announces Definitive Agreement With GrowForce To Create The Preeminent Global Cannabis Management Platform: MJardin Group (CSE: MJAR) (OTC: MJARF) has signed a definitive agreement to acquire 100% of the outstanding shares of GrowForce Holdings Inc. Upon closing of the merger, MJardin will own or manage 37 facilities operating or under development across North America, with a cultivation capacity of approximately 80,000 kg of finished product per annum. This is comprised of 20 cultivation facilities, two outdoor grows, four extraction facilities and 11 retail dispensaries across three U.S. states and three Canadian provinces. In addition, MJardin is in active negotiations with third parties to acquire additional facilities throughout North America and Europe. www.businesswire.com
National Access Cannabis becomes Canada’s largest private recreational cannabis retailer by store count, leading the country with 17 stores: National Access Cannabis Corp. (TSXV: META) (OTCPK: NACNF) announced that another eight NewLeaf Cannabis™ retail locations have received cannabis retail licenses and are expected to open this week in Alberta and one new Meta Cannabis Supply Co™ store has received a cannabis retail license and is expected to open this week in Manitoba. The addition of nine new stores more than doubles the national number of NAC-owned and licensed cannabis retail stores to 17 — the most of any cannabis retailer in the country, excluding the Government of New Brunswick. NAC is looking to open a total of 50 locations between META and NewLeaf across Canada by the end of the year and plans to have a total of 150 retail locations operational during 2019, subject to regulatory approvals 420intel.ca
TILT Holdings Announces Closing of US$119M Equity Capital Raise: Baker Technologies, Inc., Briteside Holdings, LLC, Sea Hunter Therapeutics, LLC and Santé Veritas Holdings Inc. announced the successful completion of their merger, and are now operating as a unified company under the name TILT Holdings Inc. The Business Combination represents the formation of one of the cannabis industry’s most comprehensive platforms, providing technology-driven solutions to the entire cannabis ecosystem. With the completion of the recent capital raise of approximately US$119M and the Business Combination, TILT has paved the way for its anticipated listing on the CSE. www.businesswire.com
Harvest Health & Recreation, Inc. Acquires San Felasco Nurseries, Inc. with Cannabis Super License in Florida Allowing up to 25 Dispensaries: Harvest Health & Recreation, Inc. completed the purchase of its previously announced plans to acquire 100 percent of the issued and outstanding common stock of San Felasco Nurseries, Inc., a holder of a medical marijuana dispensary license and authorization to operate as a Medical Marijuana Treatment Center in the state of Florida that can produce, process and dispense medical marijuana and marijuana products. Each Medical Marijuana Treatment Center is allowed to operate up to 25 dispensaries in Florida. With this acquisition Harvest’s footprint now includes more than 40 licenses in 10 states and the company has grown to 425 employees. The purchase price for the acquisition as provided for in the agreement was US$65,676,287. www.businesswire.com
Liberty Health Sciences To Open Five New Dispensaries, Bringing Total Number Of Florida Locations To 12 By Year End: Liberty Health Sciences Inc. (CSE: LHS) (OTCQX: LHSIF) www.libertyhealthsciences.com announced today that it plans to open two new dispensaries in Miami and Dania Beach by the end of November and three more in Hollywood, Bonita Springs and Orange Park by the end of this December. Each of the dispensaries will feature free 24-hour delivery service throughout their service area. Currently, Liberty operates seven dispensaries and six delivery hubs throughout Florida. By the end of the calendar year, Liberty plans to have 12 dispensaries open throughout the state, subject to the receipt of Florida Department of Health approvals. www.prnewswire.com
Harborside Closes $26M USD Series B Financing Round – Iconic California dispensary raises funds to continue aggressive expansion in largest cannabis market: FLRish Inc., a California corporation d/b/a Harborside, which manages the iconic Harborside dispensaries, has raised approximately $26 million USD in a Series B Convertible Debenture financing. The lead investor in the financing was Navy Capital, with participation from Tidal Royalty Corp. (CSE: RLTY.U), Salveo Capital, and other investors. The net proceeds from the financing will be used to fuel Harborside’s retail expansion throughout California and the company’s vertical integration within the state. Harborside’s strategy to expand market share will focus on growing its retail footprint throughout California, leveraging the Harborside brand in its best-in-class operations throughout the state. The Company is also expanding its cultivation and production operations through enhancement of its existing facilities, and launching new branded products and product lines. globenewswire.com
Choom Expands into Medical Cannabis Channel with the Acquisition of Clarity Cannabis Medical Centres: Choom™ (CSE: CHOO) has acquired Clarity Cannabis Medical Centre Inc. and affiliates doing business as Clarity Medical Centres. Choom™ (CSE: CHOO) (OTCQB: CHOOF) (the “Company” or “Choom”) an emerging adult use cannabis company that has secured one of the largest national retail networks in Canada, is pleased to announce it has acquired Clarity Cannabis Medical Centre Inc. and affiliates doing business as Clarity Medical Centres. www.newswire.ca
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