November 7, 2018
Company News
New Listings –
Flower One to Commence Trading in the United States under the Ticker Symbol “FLOOF. Flower One Holdings Inc. (CSE: FONE), owner of Nevada’s largest cannabis cultivation and production facility, begins trading Nov 7 in the United States on the OTCQB marketplace under the symbol “FLOOF”. www.newswire.ca
MariMed Hires Cannabis Analyst Charles Finnie as Chief Strategy Officer – MariMed inc. (OTCQB: MRMD), a multi-state cannabis operator that owns and manages cannabis facilities in six states, today announced it has named Charles Finnie as its Chief Strategy Officer. Finnie, who most recently was Wall Street’s only research analyst focused solely on cannabis, will lead MariMed’s M&A, strategic investment, and investor relations strategies. “My decision to join MariMed resulted from over a year of researching the cannabis industry,” Mr. Finnie noted. “As an analyst, I look for undervalued companies that represent major opportunities for investors. MariMed, in my view, has more upside than any cannabis company I know.” Cannabis investors seeking outsized returns are already shifting their focus from Canada to a market ten times bigger – the United States. As Canadians like to say, ‘Don’t skate to where the puck is now, skate to where it’s going!’” Globe Newswire
Green Growth Brands Adds Another Strategic Investor, Brings Total Raise to Over C$140 Million: Green Growth Brands has closed an additional private placement investment of approximately C$30.5 million with a strategic partner, at a post-Transaction consolidation price of C$2.00 per share. Assuming exercise of and full payment for the warrants, the total funds raised by GGB following the announcement of the Transaction will exceed C$140 million. This private placement follows GGB’s initial private placement of convertible debentures, which was upsized from its original target of C$55 million to over C$86 million, due to significant demand, in particular from a number of strategic investors. The Transaction is targeted for completion the week of November 5, 2018, with trading to resume on the Canadian Securities Exchange under the ticker symbol “GGB” shortly thereafter. www.newswire.ca
Tetra Bio-Pharma Enters into Non-Binding Proposal to Acquire Panag Pharma Inc. Tetra Bio-Pharma Inc. (TSXV: TBP) has entered into a non-binding proposal with the shareholders of Panag Pharma Inc. for the acquisition by Tetra of all of the issued and outstanding shares in the capital of Panag. Panag is a Canadian-based life sciences company focused on the development of novel cannabinoid-based formulations for the treatment of pain and inflammation. Panag has developed innovative and patented formulations for the treatment of ocular diseases and other pain conditions such as general neuropathic pain. Their significant formulation expertise in the wellness market will allow Tetra to expand its commercial operations. The Company expects that the Proposed Transaction will be completed by the end of the 2018 calendar year. globenewswire.com
Aurora Cannabis Increases Cornerstone Investment in Cannabis Retailer Choom with Additional $20,000,000: Aurora Cannabis Inc. (TSX: ACB) and Choom Holdings Inc. (CSE: CHOO) have completed a non-brokered private placement of a debenture in the principal amount of $20,000,000 in Choom by Aurora, convertible into common shares of Choom at a conversion price of $1.25 per Common Share, with a four year maturity date. Aurora has also secured the right to acquire up to 40% of the Company at $2.75 per Common Share. Choom has secured the rights to 45 retail opportunities across Western Canada, rapidly expanding its commercial presence in highly strategic locations. This includes a total of 45 applications submitted, with 27 development permits and 18 building permits received from the various municipalities. With the investment from Aurora, Choom intends to accelerate its sophisticated retail channel expansion in the Canadian adult use market. www.newswire.ca
Terra Tech Corp. and Golden Leaf Holdings Ltd. Sign Non-Binding Letter of Intent to Merge: Combined Company to Control 41 Permits Across Cultivation, Manufacturing, Distribution and Retail Spanning Oregon, California and Nevada, in Addition to 21 Pending Permit Applications in Multiple Jurisdictions Terra Tech (OTCQX: TRTC) signed a non-binding letter of intent to merge with Golden Leaf Holdings Ltd. (CSE: GLH). A wholly owned subsidiary of Terra Tech will amalgamate with Golden Leaf, with the resulting amalgamated corporation being a wholly owned subsidiary of Terra Tech. The LOI provides that Golden Leaf shareholders will be entitled to receive 0.1203 common shares of Terra Tech for each common share of Golden Leaf held (the “Exchange Ratio”). As a condition of closing, Terra Tech will be required to list its shares on the CSE. www.nasdaq.com
True Leaf Expands Global Retail Presence: True Leaf Medicine International Ltd. (CSE: MJ) has surpassed 2,800 retail locations across North America and Europe and has launched e-commerce direct-to-consumer stores in three major European markets. True Hemp™ pet products are now sold in more than 2,800 stores across North America and Europe, representing an increase of 86 per cent in the last year. True Leaf has partnered with new distributors in Norway, Holland, Belgium, Switzerland, and Greece to increase its retail presence to 800 stores across Europe, representing a 100 per cent increase in the last year. True Leaf Pet, a division of True Leaf, pioneered hemp-seed based products for dogs. True Leaf Pet products are also available on Amazon, and online in the United States at www.trueleafpet.com, in Canada at www.trueleafpet.ca, and in France, Germany and the UK at www.trueleafpet.eu. Globenewswire.com
Francis Ford Coppola Goes From Wine To Weed With New Cannabis Lifestyle Company: It’s officially lights, camera, cannabis for legendary filmmaker-turned-winemaker-turned-hotelier Francis Ford Coppola. Following in the footsteps of Constellation Brands, which owns multiple major vineyards in the area and announced a $4 billion minority investment in Canopy Growth, Coppola’s new venture is a pursuit independent from The Family Coppola, anchored in Sonoma County with Hideaways around the world. Named for an original Sanskrit term for marijuana, Coppola’s cannabis endeavor will operate under Sána Company LLC. His latest “cannabis lifestyle brand” coined as The Grower’s Series, is in partnership with Humboldt Brothers, a sustainable cannabis farm tucked deep in the Emerald Triangle and includes three limited-edition, organic strains, “hand-selected to offer distinct and memorable experiences.” www.forbes.com
Israeli Medical Cannabis Pioneer Hit with ‘Temporary Closure’: The largest supplier of medical marijuana in Israel is not distributing or selling products from its facility in Biriya after the Ministry of Health raised questions over a new drying process – but the company expects the facility to be up and running in a matter of days. Tikun Olam CEO Aharon Lutzky said the company has been cooperating with the ministry and is awaiting test results from an independent laboratory. Tikun Olam is considered a pacesetter in the treatment of patients with medical cannabis. The company has about 15,000 of Israel’s 38,000 cannabis patients. mjbizdaily.com
License Granted for Largest Medicinal Cannabis Site in NZ, Auckland Company says Thousands Stand to Benefit: The Ministry of Health has granted a licence to cultivate cannabis to New Zealand-owned biotechnology company Helius Therapeutics, the first licence to be issued in Auckland. The licence allows the company to establish a cannabis breeding programme and develop new cannabis plant varieties – chemovars – for use in the research and development of therapeutics. The licence also allows the company to cultivate cannabis plants across two large-scale grow sites and nursery within its Auckland property. Helius says having secured $15m in investment, led by Kiwi tech billionaire Guy Haddleton, it expects to complete the next stage of its facility by May 2019. Tvnz.co.nz
MedMen Expands Its Presence in Arizona: MedMen (CSE: MMEN) has signed a definitive agreement to acquire control of Kannaboost Technology Inc. and CSI Solutions LLC, collectively referred to as “Level Up,” in a cash and stock transaction valued at $33,000,000. Level Up holds licenses for two vertically-integrated operations in Arizona, which include retail locations in Scottsdale and Tempe, as well as 25,000 square feet of cultivation and production capacity in Tempe and Phoenix. As part of the transaction, the Company will also receive a 40 percent stake in top-selling brand K.I.N.D. Concentrates, which is currently distributed in over 90 percent of the dispensaries in Arizona. In Arizona, the company now controls three premier retail locations, 65,000 square feet in total cultivation and production capacity, and distribution and co-manufacturing rights for several top brands in Arizona, including K.I.N.D., Kiva, Mirth Provisions, HUXTON and Old Pal. investors.medmen.com
National Access Cannabis Corp. Announces Being Granted Five Additional Cannabis Retail Licenses in Alberta and New Store Openings. National Access Cannabis Corp. (TSXV: META) announced the licensing of a total of 10 cannabis retail stores in Alberta. Three retail locations under the brand NewLeaf Cannabis™, 100% owned by NAC, have opened to the public in Calgary, Alberta, with Lethbridge’s first cannabis retail store on Mayor Magrath Drive set to open Monday, November 5. NAC also announced licenses have been granted for six additional NewLeaf store locations in north Calgary, Lethbridge and St. Albert, each at various stages of ordering and receiving product. www.newswire.ca
Tetra Natural Health Signs Exclusive Agreement for the Distribution of their Hemp Energy Drink in Canada and the USA. Tetra Natural Health Inc., a division of Tetra Bio-Pharma Inc. (TSXV: TBP) announced that it has signed a major distribution agreement with Kombucha Baby Brewing Company and its partners for the exclusive distribution of its Hemp Energy Drink in the Provinces of British Columbia, Alberta, Saskatchewan, Manitoba, and Ontario as well as California, Washington, Oregon and Hawaii. The Hemp Energy Drink provides consumers with a product that contains fewer calories and more natural ingredients than existing energy drinks thus providing a welcome alternative to existing products in what is considered to be an extremely lucrative market. Globenewswire.com
CROP Developing One Ton Nevada Extraction Facility With 60% Payment Coming From 1,500,000 Pound Supply Agreement: Crop Infrastructure (CSE: CROP) announced the company has now engaged an ISO/GMP rated extraction facility developer to build a one ton per day extraction facility at its Nevada farm. On October 23rd CROP announced a 500,000 pound annual (1,500,000 over 3 years) supply agreement with a commercial extraction technology company. The same company will be developing, and providing, extraction equipment for the CROP Nevada extraction facility. The initial $3.2 Million, equivalent to ~89,000 pounds of product, will be allocated towards paying for 60% of the extraction facility. The balance of ~$2.0 Million, due in cash over the next eight months will be financed by revenue from the company’s operations. As previously announced, the CBD flower off take is to be delivered in shipments of 50,000 dry pounds on a bi-monthly basis with payment to be made plus the cost of delivery of $36.00 per pound to $57.00 per pound depending on Certificate of Analysis of the CBD content with deliveries starting August 2019. GlobeNewswire.com
Insys Shifts from Anti- to Pro-Cannabis Business – Insys Therapeutics (NASDAQ: INSY), which donated half a million dollars to help defeat marijuana legalization in Arizona in 2016, plans to sell off its opioid-related assets and instead become a cannabis-focused company. Filter
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