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Harvest Health & Recreation, Inc. Reports Fourth Quarter and Fiscal Year 2018 Financial Results

2019-04-23 11:45:00

PHOENIX--(BUSINESS WIRE)--Harvest Health & Recreation, Inc. (CSE: HARV, OTCQX: HRVSF), a vertically-integrated and highly diversified cannabis company with strong financial and growth profiles, today reported the company’s fourth quarter fiscal year 2018 financial results. Harvest has continued to be successful in winning licenses in non-competitive and competitive application processes throughout the country and has made a number of significant strategic acquisitions and mergers. Harvest’s ability to combine size, scale, capital, regulatory expertise and operational excellence are paramount to its success.

Management Commentary

“2018 continued to set records for Harvest’s growth and momentum across the United States,” said Chief Executive Officer Steve White. “Three key initiatives dictated our decisions throughout the year and will continue to be our focus in 2019: aggressively expanding our retail and wholesale footprint across the U.S., building, acquiring and expanding our suite of brands across our footprint and continuing to operate in a financially disciplined way, while also fueling the revenue growth of the company.”

Financial Highlights for the Fourth Quarter Ended December 31, 2018


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TerrAscend Announces Upsizing of Previously Announced Non-Brokered Private Placement

2019-04-23 09:00:16

Deal size is increased from previously announced US$20-$30 million due to strong investor demand


TORONTO, April 23, 2019 /CNW/ - TerrAscend Corp. (CSE:TER) ("TerrAscend" or the "Company") is pleased to report that its previously announced private placement (the "Private Placement") was met with strong investor interest, and that the Company now intends to increase the offering size to approximately US$30 million - US$40 million.  The Company has received a lead order from funds advised by JW Asset Management, LLC and its affiliates for a minimum investment of US$10 million.  For further details concerning the Private Placement, please refer to the Company's news release dated April 22, 2019.

The Company intends to use the proceeds from the Private Placement to fund its United States acquisition strategy and for working capital and general corporate purposes.

Subject to the satisfaction of customary closing conditions, including the approval of the Canadian Securities Exchange, the Private Placement is expected to close, in one or more tranches, by mid-May, 2019.


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AgraFlora Organics Announces Appointments of New Director and Corporate Secretary

2019-04-23 09:00:00

VANCOUVER, April 23, 2019 /CNW/ - AgraFlora Organics International Inc.  ("AgraFlora" or the "Company") (CSE: AGRA) (Frankfurt: PU31) (OTCPK: PUFXF), a growth oriented and diversified international cannabis company, is pleased to announce the appointment of Mr. Brandon Boddy to the board of directors of the Company.  Mr. Boddy contributes over 14 years of capital markets experience and has directly raised over $500 million in the trailing 24 months. Mr. Boddy is a founding director of Auxly Cannabis Group Inc. (formerly Cannabis Wheaton Income Corp.) and is currently a director of Bee Vectoring Technologies International Inc. In addition, Mr. Boddy was a founder of US Cobalt Corp., which was subsequently sold to First Cobalt Corp. for $149 million in 2018. Mr. Boddy also acts as a corporate advisory consultant for a portfolio of public and private firms, primarily focused on the health and wellness, mining and cannabis sectors.  Mr. Boddy is actively involved in a of variety philanthropic endeavours. A former NCAA Division One athlete, Mr. Boddy provides opportunities in golf for at-risk youth, by way of his foundation, Clubs for Kids.

The Company is also pleased to announce the appointment of Jan Urata as Corporate Secretary of the Company. Ms. Urata is the Founder and President of Take It Public Services Inc., since 2011, a highly motivated legal support service for top tier and junior issuers in a variety of industry sectors. She is well versed in taking corporate entities from initial seed capital stage to publicly listed status. Her services include corporate secretarial to regulatory filings to complex transactions while offering corporate sustainability through cost-effective, efficient and timely services. Her business model focuses on performance, attention to detail and results, ensuring success and quality of work, with over 25 years' experience in the industry. The business grew out of her years of experience as a legal secretary/paralegal in top Vancouver law firms. She is also Corporate Secretary of several TSX Venture Exchange issuers.

About AgraFlora Organics International Inc.

AgraFlora Organics International Inc. is a growth oriented and diversified company focused on the international cannabis industry. It owns an indoor cultivation operation in London, ON and is a joint venture partner in Propagation Service Canada and its large-scale 2,200,000 sq. ft. greenhouse complex in Delta, BC. The Company has a successful record of creating shareholder value and is actively pursuing other opportunities within the cannabis industry. For more information please visit: www.agraflora.com.



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MedMen Enters Into Definitive Documentation for US$250 Million Investment From Gotham Green Partners and Closes Initial Funding Tranche

2019-04-23 09:00:00

LOS ANGELES, April 23, 2019 /CNW/ - MedMen Enterprises Inc. (CSE:MMEN) (OTCQX:MMNFF) (FSE: A2JM6N) ("MedMen" or the "Company"), is pleased to announce that, further to its press release dated March 22, 2019, it has entered into definitive agreements in respect of a US$250,000,000 secured convertible credit facility (the "Facility") with Gotham Green Partners, an investor in the global cannabis industry.

"We are excited to close our investment into MedMen. The company has firmly established itself as the leading cannabis retailer in the United States with an unparalleled physical and brand footprint across the country," said Jason Adler, managing member of Gotham Green Partners. "We look forward to working closely with management to accelerate growth and drive margin improvement across the organization."

The Company intends to use the net proceeds from drawdowns on the Facility to fund the future capital needs of the business. In addition to funding general working capital, the growth capital will primarily be used to:

The Facility will be accessed through issuances to the lenders of convertible senior secured notes ("Notes") co-issued by the Company and MM CAN USA, Inc., a subsidiary of the Company ("MM CAN"), in an aggregate amount of up to US$250,000,000. Under the definitive terms, Notes will be issuable in up to 5 tranches, with each tranche being issuable at the option of the Company, subject to certain conditions and, in certain cases, price thresholds for the Class B subordinate voting shares of the Company (the "Subordinate Voting Shares"). The initial tranche, which the Company and MM CAN have drawn down, was for gross proceeds of US$20,000,000 ("Tranche 1-A"). The balance of the Facility will be funded through additional tranches as follows:


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Ovation Science Announces the Formation of an International Medical Dermatology Advisory Board Focused on Cannabis

2019-04-23 09:00:00

Key Opinion Leaders to Provide Expertise for Topical Product Development

VANCOUVER, April 23, 2019 /CNW/ - Ovation Science Inc. (CSE: OVAT) ("Ovation" or the "Company"), a cannabis product development company with a patented skin delivery technology and backed by over twenty years of research and development, today announced it has entered into an exclusive agreement with Skincareguide.com Ltd., a leading international peer-reviewed publisher and an authoritative source of dermatology information for physicians and consumers since 2001, to act as the Company's Medical Dermatology Advisory Board for cannabis formulated products. The objective of the Medical Dermatology Advisory Board is to provide guidance, along with clinical, scientific, research and strategic advice to the Company as it continues to advance it's topical and transdermal cannabis product development.

With the Company's Medical Dermatology Advisory Board in place, Ovation will be able to consider dermatology-focused product line expansion following the previous announcement of its anti-aging product line ARLO Beauty. It will allow Ovation to reinforce the science behind its product lines by relying on this international team of outstanding experts in dermatology as well as increasing its R&D into dermatology-focused conditions in order to maintain and support the Company's advantage in the topical cannabis market globally.

"As a company focused on providing science to support our product lines, we are delighted to announce this important addition to Ovation's research and development process," said Terry Howlett, President of Ovation. "The collective knowledge and insight that each distinguished physician on our Medical Dermatology Advisory Board brings is invaluable to us and ultimately the people that use our products. This board is also a great complement to Ovation's team that combined has over 75 years of dermatology, pharmaceutical and drug delivery experience. Our goal is to provide consumers with products that enhance their health and appearance and ultimately their quality of life.  We believe this board will be instrumental in guiding this effort through product development and clinical trial initiatives.  We look forward to collaborating with them as we develop our effective, safe and unique pipeline of topical and transdermal cannabis products."

Ovation's Medical Dermatology Advisory Board is comprised of physicians who are key opinion leaders within dermatology. They are:


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