Weedstocks Newswire Feed
EDMONTON, July 17, 2019 /CNW/ - Independent cannabis retailer, Plantlife Cannabis, is opening the doors to five brand new locations in Alberta within two weeks. New locations include Airdrie, Grande Prairie, Okotoks, Cochrane and Chestermere.
Plantlife Cannabis was able to open quickly as the locations have been ready but were briefly delayed while there was a hold on licensing across Alberta due to lack of product. Once the moratorium was lifted, Alberta has been granting five new licences per week provincially. Plantlife's Fort McMurray location was part of the first wave of released licenses, followed by these five locations.
These new locations will make nine Plantlife Cannabis stores in Alberta, with the first in Lloydminster, AB having opened in October of last year. Other locations include Spruce Grove, Edmonton and Fort McMurray.
Airdrie, AB – July 18 Grande Prairie, AB – July 19 Okotoks, AB – July 22 Cochrane, AB – July 25 Chestermere, AB – July 26
TORONTO, July 17, 2019 /CNW/ - Cannabis Growth Opportunity Corporation ("CGOC", or the "Company") (CSE: CGOC), a cannabis-focused investment corporation with both public and private cannabis holdings, announces the company's updated net asset value per common share ("NAV") of $3.11 at the close of business on July 15, 2019. This represents growth of 34% since the Initial Public Offering ("IPO"), on January 26, 2018, and 12% year to date.
CGOC is invested in companies operating in Canada, the U.S., Europe, Latin America, Jamaica and Israel, with an investment split across the private and public portfolios of 36% and 65% respectively. CGOC's top ten public investments as of July 15, 2019 (in alphabetical order) are: Bhang Inc (CSE: BHNG), Grassroots Cannabis, (not yet listed), Heritage Cannabis (CSE: CANN), Jushi Holdings Inc (NEX: JUSH.B), LPF Investment Corp (not yet listed),Next Green Wave (CSE: NGW), Planet 13 Holdings Inc (CSE: PLTH), TerrAscend Corp. (CSE: TER), Vireo Health Inc. (CSE: VREO) and VIVO Cannabis (TSX-V: VIVO).
Jamie Blundell, President and Chief Operating Officer of CGOC commented, "CGOC realized a loss of 5% over last month in-line with the North American Marijuana Index, which also realized a 5% loss. However, since CGOC's IPO, our NAV has grown by 34% compared to the NAMMAR, as well as a number of other market indices which declined by an average of 36%. The loss this month was mainly attributed to the continued overall decline in cannabis markets offset by the private portfolio (including the go public event for Bhang Inc., on July 11). While we continue to see the market struggle through the summer months (similar to what was experienced last year), we note that the portfolio is performing well, which reinforces our belief that access to both public and private investments adds to the long-term value.
Next Webinar To Be Held In September Please note the Company's next webinar will be held in September, shortly after the September NAV announcement.
About CGOC CGOC is an investment corporation that offers unique global exposure to the emerging global cannabis sector. CGOC's main objective is to provide shareholders long-term total return through its actively managed portfolio of securities, both public and private, operating in, or that derive a portion of their revenue or earnings from products or services related to the cannabis industry.
TORONTO, July 17, 2019 /CNW/ - Alternate Health Corp., ("Alternate Health" or the "Company") (CSE:AHG) (OTCQB:AHGIF), an international leader in CBD extraction, product development and distribution, announced today that the Company closed the second tranche of its financing arrangement with Alpha Blue Ocean as initially announced on June 14, 2019 and June 17, 2019 (the "Financing"), pursuant to the terms of an amended and restated subscription agreement dated July 3, 2019 (the "Subscription Agreement").
Pursuant to the Subscription Agreement, as part of the closing of the second tranche of the Financing, the Company issued to European High Growth Opportunities Securitization Fund ("EHGO") a convertible debenture (the "Debenture") in the principal amount of $500,000 and share purchase warrants (the "Warrants") exercisable to acquire up to 227,272 common shares of the Company (the "Shares") for a period of three years at a price of $0.33 per Share. The Debenture and Warrants otherwise have the terms described in the June 14, 2019 news release. The Debentures and Warrants are subject to a hold period of four months and one day from issuance. Further terms of the Financing are set out in the Subscription Agreement as filed on SEDAR and available under the Company's profile at www.sedar.com. Alternate Health intends to use the funds from the Financing to expand its hemp-derived product line and for general working capital.
About Alternate Health Alternate Health is an international leader in the hemp-derived CBD industry, including extraction, product development and distribution. Through Alternate Health's subsidiary, Blaine Labs, the Company has 23 years of experience in FDA-registered and cGMP medical product manufacturing and distribution, with over 50 product SKUs available from major retailers, including Walmart, Amazon, CVS and Walgreens. Alternate Health's innovative software systems provide the platform for the company's diverse operations, including CBD product distribution, hemp-derived extract manufacturing, blockchain tax collection systems and electronic medical records (EMR) platforms.
Alternate Health's corporate office is located in Toronto, Canada, with additional offices in Venice, California, and San Antonio, Texas. The Company is well positioned to reinvest internal operating cash flow in its platform and product development over the long term, creating an attractive investment profile for its shareholders. For more information about Alternate Health Corp., visit www.alternatehealth.com.
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WINNIPEG, July 17, 2019 /CNW/ - Delta 9 Cannabis Inc. ("Delta 9" or the "Company") (TSXV: NINE) (OTCQX: VRNDF) is pleased to announce the closing (the "Closing") of its previously announced public offering (the "Offering") of convertible debenture units of the Company (the "Debenture Units") for aggregate gross proceeds of $11,800,000. The Offering was led by Mackie Research Capital Corporation and Canaccord Genuity Corp. (together, the "Agents").
The net proceeds received by Delta 9 from the Offering will be used for capital expenditures related to the expansion of Delta 9's production facility, capital expenditures relating to new retail cannabis stores and for general corporate and working capital purposes.
"Closing of this debenture financing allows Delta 9 to continue to expand on our vertically integrated business model" said John Arbuthnot, CEO of Delta 9. "Our diversified revenue model has demonstrated success over the first eight months of legalization. We will feel confident that our continued focus on execution will create value for our shareholders over the long term."
Each Debenture Unit consists of one $1,000 principal amount of 8.5% unsecured convertible debenture (the "Convertible Debentures") maturing three years from the date of issuance and 826 common share purchase warrants of the Company (the "Warrants"). The Convertible Debentures shall bear interest at a rate of 8.5% per annum from the date of issue, payable semi-annually in arrears on the last day of June and December in each year and will mature 36 months from the date of issuance (the "Maturity Date"). The principal amount of each Convertible Debenture is convertible, for no additional consideration, into common shares of the Company ("Common Shares") at the option of the holder at any time prior to the earlier of: (i) the close of business on the Maturity Date; and (ii) the business day immediately preceding the date specified by the Company for redemption of the Convertible Debentures upon a change of control at a conversion price equal to $1.21 (the "Conversion Price"), subject to certain adjustment and acceleration provisions.
TROIS-RIVIÈRES, QC, July 17, 2019 /CNW/ - Reducing impaired driving increases road safety, saves lives and eliminates preventable injuries each year. The Government of Canada is providing law enforcement with access to new technologies, more resources and the training needed to detect and prosecute drug-impaired drivers. If you consume cannabis in any form, do not drive. Find an alternative means of transportation.
Today, the Minister of Justice and Attorney General of Canada, the Honourable David Lametti, and Parliamentary Secretary to the Minister of Border Security and Organized Crime Reduction, Peter Schiefke, announced $11.5 million over five years to support frontline law enforcement officers to combat drug-impaired driving in Quebec. The announcement was made on behalf of the Minister of Border Security and Organized Crime Reduction, the Honourable Bill Blair.
Projects the funding will support include training on the relevant legislation, Drug Recognition Expert (DRE) evaluation and the use of oral fluid drug screening devices, as well as the purchase of approved drug screening devices themselves.
The funding will also be used to develop standardized data collection and reporting practices for analyzing trends, identifying gaps and providing an accurate picture of drug-impaired driving in the province, and across Canada. The funding is part of the $81 million announced by the Government of Canada for provinces and territories to support public and road safety activities.
Ignite International Brands (U.K.), Ltd. Introduces the United Kingdom to Ignite CBD at London Launch Event And Europe CBD Expo
VAUGHAN, ON, July 17, 2019 /CNW/ - Following a high-profile launch event at the Mandrake Hotel in central London and a notable presence at the inaugural Europe CBD Expo, Ignite International Brands (U.K), Ltd. ("Ignite UK") has now officially launched the Ignite brand of products in Europe via the United Kingdom.
Ignite UK enters the European market with an exciting line up of lifestyle-based CBD products that include drops (tinctures), vapes and topicals. These products are 100% natural and dosed to provide effects of calm, lucid and recharge. As your day changes, so should your CBD.
Ignite UK has released five (5) drop flavours and three (3) vape flavours, with additional SKUs scheduled for release in the near term. New to the Ignite line-up is a CBD Lip Balm, which serves as a reasonably-priced entry point for the consumer curious about Ignite and/or CBD topicals.
Ignite UK sources the purest full spectrum distillate and 99% pure CBD isolate and infuses them with fractionated coconut oil, natural flavour extracts and terpenes, all of which are formulated to provide the exhilarating, clarifying benefits of CBD.
European consumers can now purchase Ignite CBD Drops, Disposable Vape Pens and Lip Balms at two London retail locations as well as online at www.uk.ignitecbd.co.
Angie Demchenko Joins Cresco Labs as its First Chief People Officer (Photo: Business Wire)
CHICAGO--(BUSINESS WIRE)--Cresco Labs Inc. (“Cresco Labs” or the “Company”) (CSE: CL) (OTCQX: CRLBF), one of the largest vertically integrated multistate cannabis operators in the United States, today announced that Angie Demchenko has joined the Company as its first Chief People Officer. Ms. Demchenko most recently served as Vice President, Head of Human Resources for Starwood Retail Partners, a leading operator of shopping malls and lifestyle centers. As Cresco Labs’ Chief People Officer, Ms. Demchenko will be responsible for performance management, recruitment, compensation and employee benefits, etc.
“Angie has an impressive track record of managing the human resources functions of dynamic, high-growth companies,” said Cresco Labs CEO & Co-Founder Charlie Bachtell. “Her experience in building best-in-class HR strategies and operations will be valuable in helping Cresco maintain our strong workplace culture and our focus on our core values and mission as we continue to scale. We believe that Angie is exceptionally well suited to help us achieve our goal of attracting the best talent in the cannabis industry and empowering them with the tools and knowledge to deliver exceptional performance.”
“I’m very pleased to join Cresco Labs at such an exciting time in the Company’s growth and development,” said Ms. Demchenko. “In a fast-moving industry, it is critical that Cresco remains nimble and has the ability to quickly respond to evolving market conditions in order to build upon its leadership in the cannabis industry. My goal is to ensure that our operating strategies and our corporate culture are well aligned and effectively complementing one another to achieve our long-term business objectives.”
Prior to Starwood Retail Partners, Ms. Demchenko served as Vice President, Human Resources for GGP (General Growth Properties), one of the largest shopping mall owners in the United States prior to its acquisition by Brookfield Property Partners. From 2008-2016, Ms. Demchenko served as Senior Vice President, Human Resources for Jones Lang LaSalle, a Fortune 500 commercial real estate services firm. Ms. Demchenko began her career as Human Resources Manager in the Global Business Services Group at Accenture. Ms. Demchenko received a Bachelor of Business Administration degree with a concentration in Human Resources Management from the University of Western Ontario.
Capital Infusion To Continue Acquisitions and Cultivation Development
TORONTO, July 17, 2019 /CNW/ - SOL Global Investments Corp. ("SOL Global" or the "Company") (CSE:SOL (OTCPK:SOLCF) ) (Frankfurt:9SB) is pleased to announce a US$6.5 million capital infusion in its portfolio company CannCure Investments Inc. ("CannCure"), an investment that is intended to fuel the growth of its position throughout the cannabis markets of Florida, Michigan, and California. CannCure is a majority-owned subsidiary of SOL Global that indirectly holds 100% of 3 Boys Farms, LLC ("3 Boys Farms"), a Florida limited liability company with a Florida state license to cultivate, process and dispense medical marijuana and other diversified cannabis assets in various stages of investment.
CannCure will utilize the SOL investment to progress the binding agreements it has in place towards closing to acquire: (a) 100% of MCP Wellness, which owns the rights to two Michigan cannabis cultivation licenses, a Michigan cannabis processing license, and three fully licensed cannabis provisioning centers in Michigan (with a fourth provisioning center scheduled to open in Ann Arbor in July 2019), and nine additional municipally-approved provisioning centers that are under development; (b) 100% of Northern Emeralds, the preeminent cannabis cultivator based in Humboldt County, California, that is one of the leading cannabis flower cultivators in California boasting award-winning premium flower strains such as "Titan OG", "Sapphire Cush" and "Durban Poison"; and (c) 100% of Three Habitat Holdings, which owns and operates One Plant dispensaries in California. Canncure intends to combine these acquisitions into one multistate operator ("MSO") that will have robust operations in three of the top 10 state cannabis markets by revenue, with vertically integrated operations across all three states and approximately 46 retail locations in operation by the end of 2020.
As a result of the additional US$6,500,000 (CAD8,494,000) investment into CannCure, SOL Global's current ownership has increased to 97.8%. Upon CannCure's completion of its previously announced acquisitions in California and Michigan, as well as completing the payment of the USD$80,000,000 earn out the former owners of CannCure, as previously announced on April 1, 2019, SOL Global expects to own approximately 20.5% of the resulting business.
"SOL's US$6.5 million investment into CannCure is to continue strengthening our foundation and positioning the company as a leader in the dominant markets of Florida, Michigan, and California," said Andy DeFrancesco, SOL Global's Chairman and Chief Investment Officer. "CannCure's expansion is an integral part of SOL Global's overall strategy and our goal to dominate all aspects of the legal cannabis, hemp and CBD markets here in North America and Europe."
VANCOUVER, July 17, 2019 /CNW/ - Harvest One Cannabis Inc. ("Harvest One" or the "Company") (TSX-V: HVT; OTCQX: HRVOF) today announced that the Company, through its wholly-owned subsidiary, Satipharm Ltd. ("Satipharm"), has entered into a Supply Agreement (the "Agreement") with GenCanna Global USA ("GenCanna") dated June 4, 2019. Under the terms of the Agreement, GenCanna will supply Harvest One with GMP Certified CBD oil and finished products for distribution in regulated markets in the United States, Europe, and around the globe, currently under the Dream Water, Satipharm, and LivRelief™ brands for an initial term of two years. In addition, GenCanna will support the Company in the research, development, and formulation of both existing and new CBD-infused products.
With an industry-leading 38,000+ retail distribution points around the globe (including, Walmart US, CVS, Kroger, Shoppers Drug Mart, Loblaw, Holland & Barrett and Boots), Harvest One is quickly becoming a leading global house of brands in the health, wellness, and self-care sectors, with cannabis, cannabis-infused, and all-natural product offerings. From Satipharm's patented GelPell® CBD capsules, to Dream Water's all natural, single shot sleep products, and the recent addition of LivRelief™, Canada's leading all natural topical pain relief cream, the Agreement with GenCanna ensures the consistent supply of premium quality hemp-derived CBD for infusion of our existing products and further product innovation.
"Working with world-class partners like GenCanna to supply premium quality, traceable, consistent ingredients, all from GMP-certified facilities, is critical to our core strategy at Harvest One to only offer consumers best-in-class premium products, with consistent and predictable effects, in delivery formats they have come to understand and demand" said Grant Froese, Chief Executive Officer of Harvest One. Mr. Froese added, "this Agreement signals the beginning of a global relationship with GenCanna under which we will continue to innovate, infuse our existing portfolio of products, and bring new products to market under our well-recognized and trusted, Satipharm, Dream Water, and LivRelief™ brands".
"Our evolving relationship with Harvest One reflects both companies' devotion to consumer product quality" said Steve Bevan, Executive Chair of GenCanna. "Joint research and development have combined to provide excellent CBD product additions to Harvest One's suite of leading-edge brands. We expect that consumers will quickly welcome these products on retail shelves globally" added Steve Bevan.
Under the terms of the Agreement, GenCanna will provide a production platform that uses innovative, proprietary harvesting and crop processing technologies that produce unmatched purity and quality. This will allow Harvest One and their brands around the world to access a consistent and fully compliant stable supply of hemp derived CBD extract and products that consumers and patients can count on.