Canopy Growth Partners with Seth Rogen and Evan Goldberg to Launch Houseplant Cannabis Brand in Canada: Canopy Growth Corporation (TSX: WEED) (NYSE: CGC) is pleased to welcome Houseplant, a new brand of Canadian cannabis, to the Canopy Growth family today. Founded by Seth Rogen and Evan Goldberg, Houseplant represents years of product expertise and an unmatched attention to detail within each strain that has been carefully selected and grown.
Canopy Growth has worked closely with Houseplant for almost two years and the entire Canopy Growth team is deeply impressed by their understanding of the cannabis consumer, attention to detail, and hands-on approach to this new partnership. “We could not be more excited to partner with Seth, Evan, and the entire Houseplant team. Together we will make Houseplant a cannabis brand synonymous with quality everywhere it is available,” said Mark Zekulin, President and Co-CEO of Canopy Growth.
TransCanna Receives Third Party Valuation of up to $75 Million for Cannabis Facility Acquisition: TransCanna Holdings Inc. (CSE: TCAN) (FSE: TH8) recently signed definitive documents to purchase for US$15 million a 196,000 sq ft vertically integrated facility in northern California as announced on March 20, 2018. Included in the purchase is a total of 5.567 acres of land and institutional grade packaging and extraction equipment. The Company retained the services of an independent third-party business valuation firm to determine the enterprise value of the proposed business to be conducted by the Company on the property. The Firm concluded with a valuation range of US$50 million – $75 million using two different valuation methods to reach their conclusion.
“We are very pleased with the outcome of this valuation and understand now that execution is the key,” said Jim Pakulis, CEO of TransCanna. “Our business initiatives are very clear and we look forward to getting the facility operational in the months to come.”
Cronos Group Reports Q4 and Full Year 2018 Financial Results, Revenue Jumps 248% to $5.6 Million: Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON), today announced financial results for the fourth quarter and full year ended December 31, 2018.
- Closed C$2.4 Billion Strategic Growth Investment from Altria Group, Inc.
- Completed first harvest in Peace Naturals expansion to Building 4
- Launched Two Recreational Brands: COVE™ and Spinach™
- Announced Landmark Partnership with Ginkgo Bioworks to Produce Cultured Cannabinoids
- Became first Pure Play Cannabis Company to list on a Major U.S. Exchange
“We are proud of all we have accomplished in 2018 and in the fourth quarter. Over the past year, Cronos Group has diligently focused on our strategic objectives, which culminated in our transformative partnership with Altria Group, Inc.,” said Mike Gorenstein, CEO of Cronos Group. “We’ve expanded our production footprint domestically and internationally, developed our distribution with global partnerships, launched iconic brands for the Canadian adult-use market and grown our IP portfolio with landmark research and development initiatives.”
Tilray Receives New Processing License from Health Canada: Natura Naturals Inc., a wholly-owned subsidiary of Tilray, Inc. (NASDAQ: TLRY) and High Park Holdings Ltd., has received a standard processing license under the Cannabis Act. The Natura greenhouse facility, which previously held a standard cultivation license, will now be able to manufacture a wide range of cannabis form factors from cannabis starting material, including oil, pre-rolls, and novel formats such as topicals and edibles.
- Newly-acquired Natura Naturals Inc. located in Leamington, Ontario obtains processing license, allowing it to produce a wide range of cannabis form factors for the Canadian market
“The acquisition of High Park Gardens in February allowed us to significantly increase our production footprint,” says Greg Christopher, EVP Operations, Tilray. “With this additional licensing, we’re pleased to have expanded Tilray and High Park’s capacity to develop and manufacture high-quality branded products for the Canadian market.”
CannTrust Post Record Q4 Revenue of $16.2 Million, Up 132% from Q4 2017: CannTrust Holdings Inc., (TSX: TRST) (NYSE: CTST) today released its financial results for the fourth quarter and year ended December 31, 2018.
- Fourth Quarter 2018 Highlights
- Fourth Quarter and Year Ended 2018 Financial Summary
- Events Subsequent to Year End 2018
- Conference Call Details
“The CannTrust team has delivered remarkable growth in the fourth quarter of 2018. We achieved record sales volume, record revenue and our medical patient count continues to increase, reflecting the quality of our products and customer service,” said Peter Aceto, Chief Executive Officer.
iAnthus to Acquire National CBD Brand CBD For Life: iAnthus Capital Holdings, Inc. (CSE: IAN, OTCQX: ITHUF), which owns, operates, and partners with best-in-class regulated cannabis operations across the United States, is pleased to announce that its U.S. subsidiary has entered into a letter of intent to acquire CBD For Life, a top-ranked, national CBD brand in the U.S.
- Suite of highly innovative Cannabidiol (CBD) infused pain management and beauty products available online and distributed to over 750 retail locations throughout the U.S.
- Featured in numerous online and print publications as well as televised broadcasts
- Exceptionally talented team led by co-founders Beth Stavola and Julie Winter, both recognized as “Top 20 Women on the Move in Cannabis in 2018”
“Developing a strong CBD strategy is mission critical for cannabis companies to compete on a national scale while simultaneously entering the consumer product and retail marketplace,” said Hadley Ford, Chief Executive Officer of iAnthus. “With the acquisition of a name brand like CBD For Life, iAnthus is well positioned to increase our market share with greater exposure to patients and customers across the country.”
Supreme Cannabis’ President John Fowler Named to High Times’ 100 Most Influential People in Cannabis List: The Supreme Cannabis Company, Inc. (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1), congratulates its President and Founder, John Fowler for being named on High Times list of the 100 Most Influential People in Cannabis.
“It comes as no surprise to us at Supreme Cannabis, that John has been recognized by High Times as one of the most influential people in the cannabis space. He is a pioneer in the cannabis industry and fierce advocate for patients-rights. The success of this sector and the opportunities it has created for Canadian businesses and consumers would not have been possible without trailblazers like John. Congratulations John and thank you for your infectious passion,” said Navdeep Dhaliwal, CEO of The Supreme Cannabis Company.
TransCanna Provides Clarity on Third Party Business Valuation for Cannabis Facility Acquisition: TransCanna Holdings Inc.(CSE: TCAN) (FSE: TH8) provides the following update further to its press release dated March 25, 2019. The Company retained the services of GreenGrowth CPA, an independent third-party chartered professional accounting firm (the “Firm”) ‘s located in Los Angeles, CA specializing in legalized cannabis. Green Growth was engaged by the Company to determine the enterprise value of the proposed business to be conducted by the Company on the property, which constitutes and fully integrated cannabis operation with divisions for transportation & distribution, extraction, manufacturing and packaging, nursery and a growing. The Firm concluded with a valuation range of US$50 million – $75 million, as of January 31, 2019, using two different valuation methods to reach their conclusion. The operations were valued on a going concern basis.
The two different valuation methods used by the firm included the discounted cash flow method and revenue multiples.
Canopy Growth Receives New Health Canada Licence for New Brunswick: Canopy Growth Corporation (TSX: WEED), (NYSE: CGC) is pleased to announce that it has received a cultivation licence from Health Canada for its facility in Fredericton, New Brunswick. With this licensing, Canopy Growth predicts the facility will initially produce more than 5,000kg of cannabis annually, with first harvests expected to become available to the market within six months.
- New $40M production facility will increase Canopy Growth’s cannabis output by more than 5,000kg annually, create more than 130 jobs in Fredericton, NB
“New Brunswick has emerged as a leader in the legal cannabis sector and the province is an excellent place to do business,” said Bruce Linton, co-CEO and Chairman, Canopy Growth. “We will leverage our existing operational expertise to ensure we support the needs of our customers while making a meaningful contribution to the local economy primarily through new job creation.”
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