Aurora Cannabis Wins Public Tender to Cultivate and Distribute Medical Cannabis in Germany: Aurora Cannabis Inc. (TSX: ACB) (NYSE: ACB) (Frankfurt: 21P; WKN: A1C4WM) announced today that the Company has been selected by the German Bundesinstitut für Arzneimittel und Medizinprodukte BfArM (Federal Institute for Drugs and Medical Devices) as one of three winners in the public tender to cultivate and distribute medical cannabis in Germany. The contract will be formalized at the earliest on April 17, 2019, pending the outcome of an appeal procedure on which a ruling is anticipated by April 10, 2019.
- Company Submitted Best Overall Concept, Paving Way to Establish Local Production
The Company was awarded the maximum number of 5 of the 13 lots in the tender over a period of four years with a minimum supply of 4000kg total. The cannabis produced will be sold to the German government and supplied to wholesalers for distribution to pharmacies.
TransCanna Closes Upsized $16 Million Private Placement: TransCanna Holdings Inc. (CSE: TCAN) (FSE: TH8) is pleased to announce that it has closed its previously announced and upsized brokered private placement of units, generating aggregate gross proceeds of CDN$16.0 million.
An aggregate of 8,000,000 units of the Company were sold at a price of CDN$2.00 per Unit. The Offering was conducted by a syndicate of agents co-led by Haywood Securities Inc. and Canaccord Genuity Corp., and including Gravitas Securities Inc.
The Company intends to use the net proceeds of the Offering to fund a US$8.0 million down payment for its proposed acquisition of the 196,000 sq ft cannabis facility as announced on February 4, 2019, for further equipment purchases and for working capital and general corporate purposes. The Company anticipates the completion of the facility acquisition to occur within the next three business days and will provide a further update at that time.
Aleafia Health Launches Cannabis Education and Certifications Platform: Aleafia Health Inc. (TSX: ALEF) (OTCQX: ALEAF) (FRA: ARAH) has launched FoliEdge Academy, a cloud-based cannabis education and certifications platform. FoliEdge Academy features proprietary, interactive courses customized for large organizations including public and private sector employers, unions, insurance & healthcare providers, and educational institutions.
- FoliEdge Academy Built with D2L, a World Leading Online Learning Company
- Insurance Technology Executive Rob Tyrie Named Head of FoliEdge Academy
- Interactive, Cloud-based Courses for Employers, Unions, Universities, Insurance Providers
“Aleafia Health’s asset-light, technology-driven cannabis health and wellness ecosystem is built for global scale. The introduction of FoliEdge Academy cements our horizontal diversification strategy and will see Aleafia Health connect with consumers within the large organizations that our educational solution is geared towards,” said Aleafia Health CEO Geoffrey Benic.
Aphria Granted Medical Cannabis Cultivation License in Germany: Aphria Inc. (TSX: APHA) (NYSE: APHA) today announced that its German subsidiary Aphria Deutschland GmbH has been selected by the German Federal Institute for Drugs and Medical Devices to receive a license for the domestic cultivation of medical cannabis. The provisional decision announced by BfArM is subject to a mandatory 10-day standstill period for public contracts, which permits unsuccessful bidders to challenge the decision before the final contract is signed. BfArM’s decision would grant Aphria 5 of the 13 available lots, each with a minimum annual capacity of 200 kg.
“Aphria is proud to have been selected as a successful applicant in the German tender process, a testament to our high production quality standards,” said Hendrik Knopp, Managing Director of Aphria Germany. “The decision from BfArM is a validation of our strategic approach to supporting the German medical cannabis market, including with high-quality, domestic production to secure vital supply for patients. We are very pleased with our continued business momentum in Germany.”
HEXO Completes First Cannabis Harvest at Their 1 Million sq ft Greenhouse: HEXO Corp (TSX: HEXO) (NYSE-A: HEXO) has completed the first harvest in its 1 million sq. ft. expansion, marking an important execution milestone in the Company’s continuous growth.
Since early January, plants have been moving into the greenhouse and the first plants have now been harvested. The Company continues to ramp up to full harvest capacity using the continuous harvest methodology, the latest step towards reaching the full annual production capacity of 108,000 kg of dried flower per year.
“Completing the first harvest in our 1,000,000 sq. ft. greenhouse expansion showcases the dedication and hard work of the entire HEXO team,” said Sébastien St-Louis, HEXO’s CEO and co-founder. “We are very proud of our continued ability to execute on our plans, creating value for our shareholders and demonstrating our commitment to our customers. This cultivation milestone means that an expanded HEXO product offering will be available to more Canadians shortly.”
iAnthus Posts Q4 and Full Year 2018 Financials, Pro Forma Revenue for 2018 was $49.3 Million: 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 report its unaudited financial results for the fiscal fourth quarter and year ended December 31, 2018. All figures are in USD, unless otherwise stated.
- Revenue generating in 9 of 11 states, and a footprint allowing for up to 63 dispensaries
- Fourth quarter revenue and other income of $2.2 million and full year fiscal 2018 revenue and other income of $4.5 million
- Pro forma revenue* for the fourth quarter was $14.8 million and $49.3 million for the full year fiscal 2018
- Opened multiple dispensaries including Boston, Brooklyn, Baltimore and West Palm Beach
- MPX branded products added to the portfolio; distributed to 90+ dispensaries in three states
Hadley Ford, CEO of iAnthus, provided the following statement on the Company’s 2018 results:
“The iAnthus team was busy in 2018 putting in place the foundation for rapid growth going forward. We made significant investments in expanding our footprint and scaling our operations, while maintaining a prudent balance sheet in the process. Our operational momentum is strong. We opened eight dispensaries in the past seven months, including flagship stores in West Palm Beach, FL and Brooklyn, NY, and plan to nearly double the pace of openings throughout the remainder of 2019. We are now revenue generating in nine of eleven states and ramping quickly. Managing growth is challenging, particularly in an emerging industry. Fortunately, we have also built an impressive operating team that combines cannabis expertise with crucial professional skillsets from outside the industry. With the foundation we have built in 2018, both organically and through the acquisition of MPX, iAnthus is poised for a transformative 2019.”
MediPharm Labs Announces Q4 2018 Revenue of $10.2 Million and Adjusted EBITDA of $2.1 Million: MediPharm Labs Corp. (TSXV: LABS) (OTCQB: MLCPF) (FSE: MLZ) a global leader in specialized, research-driven cannabis extraction, distillation, purification and cannabinoid isolation, is pleased to announce fourth quarter and full year financial results for the year ended December 31, 2018. The audited consolidated financial statements and management’s discussion and analysis for the periods are available on SEDAR.
Fourth Quarter 2018 Highlights
- Revenue of $10.2 million, commencing November 12th after receipt of sales license from Health Canada
- Gross Profit of $4.0 million, Gross Margin 39%
- Adjusted EBITDA(1) of $2.1 million, Adjusted EBITDA(1) margin of 21%
- Became first fully Licensed Producer to specialize solely in cannabis extraction
- Signed large private label cannabis oil sale agreement with Canopy Growth Corporation for the sale of up to 900 kg over 18 months
- Expanded licensed extraction throughput capacity by 50% to 150,000 kg per year
“2018 was a breakthrough year for MediPharm Labs. We became the first fully Licensed Producer to specialize solely in extraction and quickly scaled operations to emerge as the dominant market leader in the manufacturing of high quality, pharmaceutical-like production of cannabis derivative products – the future of cannabis,” said Patrick McCutcheon, Chief Executive Officer.
Liberty Health to Open 13th Medical Cannabis Dispensary in Florida, Receives DOH Approval for Additional Greenhouse Space: Liberty Health Sciences Inc. (CSE: LHS) (OTCQX: LHSIF), a provider of high quality cannabis, announced today that it will open its 13th Florida dispensary in Bonita Springs on April 5th, as the company continues to expand rapidly throughout the state. On April 1st the Company also received approval form the Florida Department of Health (DOH) for an additional use of 80,000 square feet of enclosed greenhouse space at the Liberty 360 Innovation Campus in Gainesville. This brings the Company to a total of 228,880 square feet of cultivation space in the Gainesville area.
- Company approved to expand Liberty 360 Innovation Campus cultivation space in Gainesville to 228,880 square feet
“Each day Liberty works to help our patients live the life they deserve through our commitment to provide them access to the highest quality medicinal cannabis,” said Victor E. Mancebo, interim Chief Executive Officer of Liberty. “We are excited to open the doors to our patients in Bonita Springs and serve our patients in Lee County. This location will mark Liberty’s first location in the Southwest region of the state. Many patients have inquired about a dispensary in this region, and this dispensary highlights Liberty’s commitment in promoting the accessibility of medical cannabis to the Florida patient community.”
CannTrust Closes Acquisition of 81 Acres for Outdoor Grow in British Columbia: CannTrust Holdings Inc. (TSX: TRST) (NYSE: CTST) is pleased to announce that it has closed the first of its previously announced transactions to acquire 200 acres of outdoor cultivation land. The Company has purchased four parcels of land for cash, representing 81 acres of land, to advance its outdoor cannabis cultivation operation in British Columbia.
“We are very pleased to be executing on our plans to increase capacity through outdoor cultivation. Cannabis harvested from this new location will be used to produce the Company’s award-winning oil products as well as its future product innovations as Canadian regulations expand to include new product formats. The Company will continue to sell high quality dry flower from our Perpetual Harvest Greenhouses in Pelham, Ontario to medical and recreational consumers, and will use cannabis cultivated outdoors for its premium-priced extraction products at a fraction of the cost,” said Peter Aceto, Chief Executive Officer. “Subject to Health Canada approval, it is our plan to have plants in the ground and our first harvest from the 81 acres in 2019. Additional land is intended to be secured by the Company, which will bring outdoor cultivation to 200 acres, and will lead to total annualized production capacity of between 200,000kg and 300,000kg for the Company. Production from these additional lands are expected to come online in the third quarter of 2020, subject to regulatory approvals. We believe the transaction further demonstrates CannTrust’s low-cost cultivation leadership and is another example of CannTrust taking bold action to reach its vision of becoming a global leader in providing innovative cannabis products.”
Tilray Announces Support for Two New Cannabis Research Studies in Canada and Australia: Tilray, Inc. (NASDAQ: TLRY), a global leader in cannabis research and production, today announced its support of two new clinical studies: a pilot study led by Murdoch Children’s Research Institute (MCRI) in Melbourne, to evaluate the feasibility and acceptability of a larger randomized placebo-controlled trial of cannabis extract as a form of treatment for reducing Severe Behavioral Problems (SBP) in pediatric patients with Intellectual Disabilities (ID); and a study with McGill University Health Centre’s Division of Infectious Diseases and Chronic Viral Illness, to examine the effectiveness of medical cannabis on immune activation in People Living with HIV.
- Tilray cannabis products will be used to support the Murdoch Children’s Research Institute led pilot study to evaluate the feasibility and acceptability of a randomized placebo-controlled trial of the efficacy of cannabidiol (CBD) oral solution in reducing Severe Behavioral Problems in children with Intellectual Disabilities
- Tilray CBD and THC capsules will be used in a study examining the safety, tolerability and effectiveness of medical cannabis on immune activation in people living with HIV being conducted by the McGill University Health Centre
- Tilray’s support of numerous studies conducted by leading research institutions and hospitals around the world reflects the need for more clinical data in the medical cannabis field and the Company’s commitment to advancing cannabinoid-based science to further understand the benefits it can offer to critical patient populations
“Tilray is at the forefront of clinical research in the medical cannabis field and we’re very proud to support two groundbreaking studies that have potential to identify more indications in which medical cannabis can benefit patients in-need,” says Philippe Lucas, VP of Global Patient Research and Access, Tilray. “We are committed to advancing cannabinoid-based science to further understand the potential benefits of medical cannabis as a treatment option among these critical patient populations. There is a serious need for more clinical data in our field, and we are proud to support research like this around the world.”
Aurora Cannabis Files Preliminary Shelf Prospectus to Raise up to $750 Million: Aurora Cannabis Inc. (TSX: ACB) (NYSE: ACB) (Frankfurt: 21P; WKN: A1C4WM) announced today that it has filed a preliminary short form base shelf prospectus with the securities regulators in each province of Canada, except for the Province of Quebec, and a corresponding shelf registration statement on Form F‐10 (the “Registration Statement”) with the United States Securities and Exchange Commission.
- Provides Flexibility to Execute on Aurora’s Global Expansion and Partnering Strategy
“Although we have no immediate intention of drawing capital against this Shelf Prospectus, we have introduced this option as a prudent and long-term strategic measure to provide us with flexibility in access to growth capital, if or when required, to continue executing on our global expansion and partnering strategy,” said Michael Singer, Executive Chairman. “With our recent listing on the NYSE, our successful financing in January 2019 led by U.S. institutional investors, and as we work with Nelson Peltz to explore potential partnership opportunities, this filing is a natural evolution for our company as we rapidly mature into a global and profitable organization.”
TransCanna to Close $16 Million Private Placement on April 4: TransCanna Holdings Inc. (CSE: TCAN) (FSE: TH8) is pleased to announce that the closing date of the recently announced private placement will be on Thursday, April 4th, 2019.
“The private placement was oversubscribed, allowing us to bring in a significant number of new investors and materially increase our shareholder base. In fact, the volume of subscriptions caused a slight delay in our original anticipated closing date. With that said, we are extremely thankful to all of the investors who are participating in the private placement,” stated Jim Pakulis, CEO of TransCanna.
iAnthus to Sell Medical Cannabis Products in Maryland: 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 a licensing agreement entered into between its U.S. subsidiary and Blissiva, a women-owned, Maryland-based company specializing in producing and distributing medical cannabis products specifically formulated for women. As per the licensing agreement, iAnthus will manufacture, market and sell a variety of Blissiva products in its markets, with initial launch in Maryland scheduled for April 20, 2019. Additionally, iAnthus has the exclusive right to launch Blissiva in its ten other existing states and across the United States.
“We are extremely proud to partner with Blissiva in launching female-focused cannabis products into the market. Women represent one of the largest and fastest growing demographics of consumers in this industry, and there is currently a lack of products specifically designed to address their health and wellness needs. We believe that women should be able to ‘have it all,’ and I’m excited to be working with Dr. Apgar, a groundbreaking expert in women’s health, to fill the gap in the industry,” said Beth Stavola, Chief Strategy Officer of iAnthus.
Aphria Launches CBD Based Nutraceutical and Cosmetics Line in Germany: Aphria Inc. (TSX: APHA) (NYSE: APHA) through its subsidiary Aphria Deutschland GmbH today launched the Company’s first CBD-based nutraceutical, the first product in its CBD-based cosmetics line for the German market. Featuring CBD derived from hemp, the CannRelief brand of products are being produced in the European Union and distributed by the Company’s subsidiary, CC Pharma, which has access to more than 13,000 pharmacies throughout Germany.
“We are excited to introduce our first brand of CBD products for the German nutraceutical and cosmetics market,” said Jakob Ripshtein, President of Aphria. “Supported by our extensive distribution network through CC Pharma, CannRelief provides a natural extension to Aphria’s growing business opportunities in the German medical cannabis market. We look forward to providing a full range of CannRelief CBD products this year.”
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