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VAUGHAN, ON, Aug. 15, 2019 /CNW/ - CannTrust Holdings Inc. ("CannTrust" or the "Company", TSX: TRST, NYSE: CTST) today provided an interim update on various matters.
Management Cease Trade Order
CannTrust announced that its application for a management cease trade order ("MCTO") under National Policy 12-203 – Management Cease Trade Orders ("NP 12-203") has been approved by the Ontario Securities Commission ("OSC"). The MCTO does not affect the ability of investors who are not insiders to trade in the securities of the Company.
CannTrust announced on August 1, 2019 that it was filing an application seeking a MCTO from the OSC because the Company was likely to miss its filing deadline of August 14, 2019 to file an interim financial report for the three and six month periods ended June 30, 2019, an interim management's discussion and analysis for the corresponding period and certifications of interim filings (the "Q2 Financials").
The timing and content of CannTrust restoring any defaults in its Q2 Financials will depend, in large measure, upon the timing and impact of Health Canada's decisions regarding the Company's non-compliance with regulatory requirements. Although the Company, under the supervision of the Special Committee, is preparing a remediation plan for submission to, and consideration by Health Canada, Health Canada has advised the Company that it is unable to provide any guidance about the timing or content of its decisions concerning the Company.
Canopy Rivers' thriving ecosystem demonstrated by purchase and supply agreement between portfolio companies
JWC AND TERRASCEND SIGN MUTUALLY BENEFICIAL PURCHASE AND SUPPLY CONTRACT
TORONTO, Aug.15, 2019 /CNW/ - Canopy Rivers Inc. ("Canopy Rivers" or the "Company") (TSXV: RIV) (OTC: CNPOF) is pleased to share that its portfolio companies, James E. Wagner Cultivation Corporation ("JWC") (TSXV: JWCA) (OTCQX: JWCAF) and TerrAscend Corp. ("TerrAscend") (CSE: TER) (OTCQX: TRSSF), have entered into a purchase and supply agreement, demonstrating the type of collaboration and synergy seen throughout the Canopy Rivers ecosystem. As part of the agreement, JWC will supply cannabis flower and oils to TerrAscend, which will be made available for purchase on TerrAscend's online medical sales platform, Solace Health, providing JWC with exposure to thousands of registered medical patients across Canada.
This partnership was developed in collaboration with the Canopy Rivers Impact Team, a group specifically focused on helping portfolio companies work with each other and leverage their competitive advantages and specialized skillsets, in turn enabling them to specialize in what they do best. For JWC, it is a focus on aeroponic cultivation, leading to a clean, consistent, high-quality product for the end consumer. For TerrAscend, it is its function as a pharma-focused processing, retail, and distribution operator, and its status as the only company selling cannabis in Canada, the U.S., and Europe.
"The collaboration between JWC and TerrAscend is evidence of the Canopy Rivers ecosystem at work," said Olivier Dufourmantelle, Chief Operating Officer of Canopy Rivers. "Portfolio companies that work together, thrive together. We are constantly striving to broker opportunities for synergy and collaboration within our portfolio."
Canopy Rivers currently holds approximately 14% of the issued and outstanding common shares in the capital of JWC and owns exchangeable shares in TerrAscend. For more information regarding Canopy Rivers' investments in JWC and TerrAscend, please refer to the Company's annual information form dated July 15, 2019 ("AIF"), filed with Canadian securities regulators and available on Canopy Rivers' profile on SEDAR at www.sedar.com. For additional information about JWC, please refer to JWC's profile on SEDAR or their website at www.jwc.ca. For additional information about TerrAscend, please refer to TerrAscend's profile on SEDAR or their website at www.terrascend.com.
Cannabis, Woodstock and the crowd that started it all align again
SMITHS FALLS, ON, Aug. 15, 2019 /CNW/ - On this day in 1969, hundreds of thousands of people descended onto Max Yasgur's dairy farm in Catskills, NY. What began as a festival with an expected 50,000 attendees turned into one of the largest free concerts and top ten iconic moments in music history, with over 400,000 revelers celebrating peace and music together during a three-day historic event known as "Woodstock".
Multi-generational stars were born with performances that will live on in cultural history. It was the beginning of a new counterculture of rebellion based on peace and love. As the music played on for 12 hours a day, the celebration turned into the coming out party for another cultural force: cannabis.
Now, 50 years later, the crowd that started it all has become one of the most important, influential and educated consumer groups in the legal cannabis market—the 55+ Boomers.
As this group reflects on a half-century of cannabis culture, they are uniquely qualified to share their insights and opinions on how the plant and the industry have changed, improved and impacted our communities over time.
VANCOUVER, Aug. 15, 2019 /CNW/ - Cannara Biotech Inc. ("Cannara Biotech" or the "Company") (CSE: LOVE) (OTCQB: LOVFF) (FRA: 8CB), an emerging vertically integrated cannabis company focused on the cultivation and sale of dried premium cannabis and cannabis-infused products, today announced the appointment of Barry Laxer as Cannara's new Chief Operating Officer, effective August 14, 2019. Barry is a successful business leader that brings over 25 years of experience of leading large-scale operations both domestically and internationally.
"We are excited to welcome Barry to the leadership team, knowing his contributions will help accelerate our company to its next stage of growth," said Zohar Krivorot, President and CEO of Cannara.
Barry will replace Evan Morris, who has helped bring the construction phase of our Farnham facility to completion. "We would like to thank Evan for his many contributions to Cannara over the past year and wish him all the best in his future endeavours," said Mr. Krivorot.
About Cannara Biotech
Cannara Biotech (CSE: LOVE) (OTCQB: LOVFF) (FRA: 8CB) is building one of the largest indoor cannabis cultivation facilities (625,000 square feet) in Canada and the largest in Quebec. Leveraging Quebec's low electricity costs, Cannara Biotech's facility will produce premium-grade indoor cannabis and cannabis-infused products for the Canadian and international markets.
Jupiter Will Offer a Liquid6 Complete Starter Kit in Retail Ready Packaging
CAMBRIDGE, Mass.--(BUSINESS WIRE)--TILT Holdings Inc. (“TILT” or the “Company”) (CSE: TILT) (OTCMKTS: SVVTF), a foundational technology cannabis platform comprised of assets to support brands worldwide, announced today the expansion of retail offerings for its wholly-owned subsidiary Jupiter Research (“Jupiter”), a designer, developer and manufacturer of vaporizing technologies for natural plant-derived oil.
Jupiter will offer a complete starter kit in retail-ready packaging that includes black Liquid6 power supply and one empty black powder-coated collar 1.0 ML fill-your-own cartridge. This latest product offering was created to further Jupiter’s goal of being an innovative leader in the global vaping market and provide the high-quality products to their brand partners. The vape market continues to be a fast growing segment in the cannabis industry. In 2019 and for the first time ever, California sold more concentrates than flower, and vapes were ranked the most popular method of ingesting concentrates. Vape sales grew 69 and 80 percent in California and Oregon, respectively, according to BDS Analytics data.
“Consumer behavior trends are leaning towards vaping products as the preferred cannabis consumption method and Jupiter continues to lead the industry with its high-quality products, including the launch of this product,” said Mark Scatterday, Interim CEO of TILT Holdings. “Jupiter’s Liquid6 Complete Starter Kit is an all-in-one package solution. This latest technology is a direct reflection of our passion to design, develop and manufacture high-performance and state-of-the-art vaporization technologies designed for today’s high viscosity extracts.”
The Liquid6 platform is specifically designed to deliver the highest vapor volume of premium high viscosity extracts. Jupiter’s platforms feature CCELL® technology consistently delivering a vaping experience without compromising the intended flavor and efficacy. The L6 is utilizing advanced technology in a recognized simple and compact form factor.
James E. Wagner Cultivation Corporation Enters Into An Agreement To Supply TerrAscend Corp. With Cannabis Products
NAPANEE, ON, Aug. 15, 2019 /CNW/ - VIVO Cannabis Inc. (TSX-V: VIVO, OTCQX: VVCIF) ("VIVO" or the "Company") today announced that senior management will host a conference call to discuss the Company's second quarter 2019 results. The Company will release its results for the second quarter on Wednesday, August 28, 2019, after the close of markets.
Conference call details:
Thursday, August 29, 2019
PHOENIX--(BUSINESS WIRE)--Harvest Health & Recreation, Inc. (CSE: HARV, OTCQX: HRVSF), vertically-integrated cannabis company with one of the largest and deepest footprints in the U.S., today reported the company’s second quarter fiscal year 2019 financial results. Harvest has continued to be successful in winning licenses in non-competitive and competitive application processes throughout the country and has announced several significant strategic acquisitions and mergers. Harvest’s ability to combine size, scale, capital, regulatory expertise and operational excellence are paramount to its success.
“During the second quarter, Harvest continued to execute on its strategy by adhering to our four core initiatives: building a world class team, expanding our retail and wholesale footprint across the U.S., building and acquiring brands and distributing them across our footprint and continuing on a path of profitable growth we believe that we can fulfill our objective of becoming the most valuable cannabis company in the world,” said Chief Executive Officer Steve White.
Financial Highlights for the Second Quarter Ended June 30, 2019
View from the C-Suite: Trevor Fencott, Chief Executive Officer, Fire & Flower Holdings Corp., tells his company's story. Filmed on August 9, 2019
TORONTO, Aug. 15, 2019 /CNW/ -
The View from the C-Suite video interview series highlights the unique perspectives of listed companies on Toronto Stock Exchange and TSX Venture Exchange. Videos provide insight into how company executives think in the current business environment. To see the latest View from the C-Suite videos visit www.tmxmoney.com/en/news/csuite.html)
About Fire & Flower Holdings Corp. (TSX: FAF)
Fire & Flower is a purpose-built, independent adult-use cannabis retailer poised to capture significant Canadian market share. The Company guides consumers through the complex world of cannabis through education-focused, best-in-class retailing while the Hifyre digital platform connects consumers with cannabis products. The Company's leadership team combines extensive experience in the cannabis industry with strong capabilities in retail operations.