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KEMPTVILLE, ON & SMITHS FALLS, ON, Aug. 15, 2019 /CNW/ - Canopy Growth Corporation is pleased to invite you to attend a cheque presentation at Ferguson Tree Nursery in Kemptville, Ontario. Seeing a need to step up to support our environment, Canopy Growth has proudly offered to donate $100,000.
Canopy Growth is looking forward to celebrating a new partnership, highlighting the important work done by Forests Ontario, and showcasing Ferguson Tree Nursery.
During the program, there will be an opportunity for you to address those in attendance, including Mark Zekulin, Canopy Growth CEO, Hilary Black, Canopy Growth Chief Advocacy Officer, the Hon. Steve Clark, Minister of Municipal Affairs and Housing, Rob Keen, CEO of Forests Ontario, and Ed Patchell, CEO of Ferguson Tree Nursery.
Kemptville, ON Date: August 16, 2019 Time: Event begins at 10:00 am EST. (Media asked to arrive early) Location: 275 County Road 44, Kemptville, ON RSVP: If you're planning on attending, please RSVP with D'Arcy McDonell (firstname.lastname@example.org)
SOURCE Canopy Growth Corporation
NEW REPORT: California's Legal Cannabis Market on Track to Reach $3.1 Billion in 2019 Sales, $7.2 Billion in 2024
OAKLAND, Calif., Aug. 15, 2019 /CNW/ -- After a rocky transition to regulated adult-use sales in 2018, California's legal cannabis market is currently on track to grow 23% in 2019 to $3.1 billion. Consumer spending is forecast to reach $7.2 billion in 2024, a 19% compound annual growth rate (CAGR) over the next five years, according to California: Lessons From the World's Largest Cannabis Market, a new report from Arcview Market Research and BDS Analytics.
California became the first state to have legal spending on cannabis fall year-over-year when switching from medical-only access to an adult-use regulatory regime – from $3 billion in 2017 to $2.5 billion in 2018. States making the move before – including Colorado, Washington and Oregon – have typically seen consumer spending double over 12 months. But in California, local bans on commercial cannabis activity caused the number of retailers to shrink sharply during the launch of the state's adult-use program in January 2018. Stringent testing regulations that took effect in July 2018 prompted many suppliers to fold as product shortages cut consumer spending dramatically.
"California companies that survived the dual 'extinction events' of 2018 have emerged stronger and well-positioned to grow their market share going forward," said Troy Dayton, CEO of the Arcview Group. "More than that, they are battle hardened, and kicked off a merger and acquisition flurry in the first half of 2019 that will allow them to leverage their positions in California to compete across the country."
"Despite the burdens imposed on the legal market by regulators, with a $2.7 billion gross domestic product, California has the world's largest legal cannabis market and will continue to until federal legalization makes it merely a part of the larger U.S. market," said Tom Adams, Managing Director and Principal Analyst for BDS Analytics' Industry Intelligence group and Editor-in-Chief for Arcview Market Research. "At that point, California will assume its usual place in the world economy as a major exporter of agricultural commodities and their derivative products, a technology mecca, and consumer product trendsetter."
Other key trends analyzed in California: Lessons from the World's Largest Cannabis Market include:
1933 Industries Signs Strategic Management Agreement to Expand its Brands into California, the Largest Cannabis Market in the World
The Agreement Launches the Company as a Multi-State Operator and Establishes Local Manufacturing for Both its AMA and Canna Hemp™ Portfolio of Brands
VANCOUVER, Aug. 15, 2019 /CNW/ - 1933 Industries Inc. (the "Company" or "1933 Industries") (CSE: TGIF) (OTCQX: TGIFF), a vertically integrated cannabis consumer packaged goods company, is pleased to announce that it has signed a Management Services Agreement ("Agreement") to provide operational and accounting services, general management and oversight to Green Spectrum Trading, Inc. ("Green Spectrum"), a medicinal and recreational cannabis business licensee in the State of California, for a two-year term. Green Spectrum operates as a licensed cannabis cultivator, manufacturer and distributor, and holds a pending home delivery business license. The Agreement serves to establish a local presence for the Company's Alternative Medicine Association (AMA) branded products outside of Nevada, and expands the footprint of its CBD wellness line.
Deep Manufacturing and Distribution Experience Enables Agreement
Under the terms of the Agreement, the Company will provide the services necessary for the operation of Green Spectrum's business, including oversight over the general management of the business and operations, product manufacturing, distribution efforts, staffing, sales, marketing, accounting, and compliance. The Company will utilize its expertise in manufacturing and building distribution networks to undertake all initiatives relating to the establishment of a new cannabis manufacturing and extraction facility, inclusive of funding building and tenant improvements, providing start-up costs for the acquisition and installation of equipment, rent, labor, utilities, marketing, etc. The Company grants Green Spectrum a non-exclusive right and license during the term of the Agreement to use the Company's licensed marks to produce, manufacture, market and sell the Company's licensed products within California.
California's Industry Potential
12% of current non-consumers are expected to enter the cannabis market
TORONTO, Aug. 15, 2019 /CNW/ - Canada could see as many as 3 million new consumers enter the cannabis market due to legalization and availability of edibles, extracts and topicals (together referred to as "2.0 products") according to a survey conducted by EY Canada and Lift & Co. (TSXV: LIFT) (OTCQB: LFCOF). That figure represents the conversion of approximately 12% of current non-consumers.
"New product offerings will open the doors for experimentation among current and non-consumers giving cannabis companies the opportunity to capture a larger market share," says Monica Chadha, EY Canada Cannabis Leader. "But companies should keep in mind that these consumer segments will have very different attitudes towards cannabis and product formats, ultimately driving the need for differentiated customer experiences."
Current cannabis consumers make up 17% of the Canadian adult population, according to Statistics Canada. The survey from EY and Lift & Co. finds quality, intended effects and potency are some of the most important criteria for consumers evaluating purchases, with less focus on the brand. Data indicates that 70% of current consumers who purchase through brick and mortar retail channels do not know what product or brand they are going to purchase prior to entering the store.
Pretty Elevated by Irisa, a Social Impact Initiative Dedicated to Amplifying the Female Voice, Launches in Toronto
Pretty Elevated pop-up event series at Stackt Market empowers and celebrates local women entrepreneurs in Toronto
TORONTO, Aug. 15, 2019 /CNW/ - High Park Holdings Ltd. launches Pretty Elevated by Irisa, a community driven collective and social impact initiative dedicated to empowering women and creating opportunities that amplify the female voice through community and connectivity. Pretty Elevated will operate a six-week pop-up at Stackt Market located in downtown Toronto featuring a curated space with rotating retail programming for start-up entrepreneurs, workshop events and a co-working lounge.
"Pretty Elevated is about creating a space and community that empowers women to pursue personal and professional growth." says Adine Fabiani-Carter, Chief Marketing Officer at High Park. "We have swimsuit designers, art curators, life coaches, a shared work space and so much more. We're here to support local entrepreneurs by giving them a platform to amplify their businesses and expand their audience. We invite and encourage people in city of Toronto to join us in celebrating these great local businesses."
Pretty Elevated by Irisa at Stackt Market will feature a rotating selection of local women-owned businesses, each at different stages of their entrepreneurial journeys and looking to scale up. Each entrepreneur will be given the opportunity to activate in the Pretty Elevated space for two weeks, rent free, to promote their business and grow their customer base.
The inaugural Pretty Elevated programming includes a collective of over 20 female entrepreneurs including:
~Seedo's unique cultivator products join the Namaste platform and bring the benefits of growing plants into the home of global consumers~
TORONTO, Aug. 15, 2019 /CNW/ - Namaste Technologies Inc. ("Namaste" or the "Company") (TSXV: N) (FRANKFURT: M5BQ) (OTCMKTS: NXTTF) today announced that it has signed a distribution and marketing agreement with Seedo Corp (OTCQB: SEDO) subsidiary Eroll Grow Tech Ltd ("Eroll Grow Tech") to market their Seedo home grow ("Seedo") product through the Company's online marketplace. The Seedo products are fully automated home grow devices, providing Namaste's global customer base with the opportunity to enjoy the benefits of growing plants in their own home.
"This innovative and ground-breaking product is a great addition to Namaste's marketplace," said Meni Morim, Interim CEO at Namaste Technologies. "Our goal is to create the most unique and personalized experience for users seeking innovative devices, and Seedo's home grow unit is ready for European now and expected to launch on Namaste's Canadian properties very soon".
"Given Namaste's extensive distribution experience and wide-reach within the cannabis space, we are excited to work with them," said Seedo CEO Zohar Levy. "We are setting our sights on new market segments and successfully expanding around the world. This relationship will introduce European consumers to automated growing technology, and will give them the capabilities to grow their own plants – hemp, vegetables, fresh herbs, and flowers – at home."
Seedo Products are already available from Namaste web properties in Europe and are expected to launch on CannMart.com and Namastevapes.ca in the third quarter of 2019.
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The Company's number of branded retail stores selling recreational cannabis is expected to reach 24 locations across Canada by early September
CALGARY, Aug. 15, 2019 /CNW/ - High Tide Inc. ("High Tide" or the "Company") (CSE:HITI) (OTCQB:HITIF) (Frankfurt:2LY), an Alberta-based, retail-focused cannabis corporation enhanced by the manufacturing and wholesale distribution of smoking accessories and cannabis lifestyle products, today announced that the Canna Cabana retail store located at Unit #310, 4602 46th Street in the city of Olds (the "Olds Store") received its first delivery of cannabis products from Alberta Gaming, Liquor and Cannabis ("AGLC") and has begun selling recreational cannabis for adult use. Inclusive of the Olds Store, High Tide currently has 17 branded Canna Cabana locations selling recreation cannabis products across Canada.
High Tide's next 6 Canna Cabana locations are all licensed and expected to be operating as retail cannabis stores by early September. With the addition of the first KushBar location that is expected to be licensed in the near term, the Company will soon have 24 retail cannabis locations across Canada, barring any changes to the current rate of licensing by AGLC. "The opening of the Olds Store is a testament to the hard work and dedication of our employees and it is because of their passion that Canna Cabana is one of Canada's leading recreational cannabis retailers," said Raj Grover, President and Chief Executive Officer of High Tide. "We are excited to bring the Canna Cabana experience to the forward-thinking community of Olds, where we have an existing relationship through our previous Smoker's Corner business," added Mr. Grover.
This week, Canna Cabana also received two AGLC licenses to sell recreational cannabis at its upcoming locations in Calgary and Vegreville, which are expected to open in early September. The remaining Canna Cabana and KushBar locations needed to achieve the AGLC's maximum of 15% market share are currently under various stages of development and construction. Outside of Alberta, High Tide currently has a Canna Cabana retail cannabis store in Swift Current, Saskatchewan, along with 3 branded locations in Hamilton, Sudbury and Toronto, Ontario.
TORONTO, Aug. 15, 2019 /CNW/ - Canntab Therapeutics Limited (CSE:PILL.CN) (OTCQX:CTABF) (FRA:TBF1.F) (the "Company" or "Canntab"), the leading innovator in cannabinoid and terpene blends in hard pill form for therapeutic application, is pleased to announce that it has received an initial assessment from the Geneva-based International Preliminary Report on Patentability ("IPRP") for its Immediate Release Cannabidiol Formulation (the "Immediate Release Formulation"). The IPRP has indicated a positive finding of patentability, meaning that, in their opinion, Canntab's formulation is not only patentable but also novel, non-obvious and useful. National filings have already been completed in the United States and internationally, and the international application has now been completed in Canada and Australia.
Although the opinions of the IPRP are not binding, many patent offices, including Canada's for example, often defer to the IPRP. In fact, the Canadian office of the IPRP was also the international searching authority in this particular case, which bodes well for an eventual Canadian patent grant.
"This is a first and an important indication that our Immediate Release Cannabidiol Formulation is unique and patentable. It is our intention to build on this success as we continue to seek additional patents in Canada, United States and internationally. Our extensive portfolio of proprietary hard tablets is our core value proposition and we believe that we are well positioned to be the dominant player in hard tablet cannabinoid formulations world-wide," states Jeff Renwick, co-founder and CEO of Canntab.
Canntab's Extensive IP Portfolio – At the Core of Our Value Proposition
Canntab is a drug pharmaceutical company that has successfully created a line of patent-pending precision oral delivery hard tablets. Canntab's proprietary technology and know-how enables it to convert THC and CBD oil into a nano-emulsified granulation, and ultimately into a hard pill format.
Aurora Cannabis Announces Upsizing of Credit Facility to Approximately C$360 Million (US$280 Million)
NYSE | TSX : ACB
Broader Lending Syndicate Introduced to Fund Strategic Growth Initiatives
EDMONTON, Aug. 15, 2019 /CNW/ - Aurora Cannabis Inc. ("Aurora or the "Company") (NYSE | TSX: ACB), the Canadian company defining the future of cannabis worldwide, announced today that it has secured commitments from an expanded syndicate of lenders led by the Bank of Montreal ("BMO") to amend and upsize its existing C$200 million secured credit facility.
The amended secured credit facility will consist of an additional C$160 million allocated between both term loans and a revolving credit facility, both of which will mature in August 2021. Closing of the credit facility is subject to completion of definitive documentation and satisfaction of conditions precedent customary for a financing of this nature. The credit facility will have a first ranking general security interest in the assets of Aurora. The Loans can be repaid without penalty at Aurora's discretion.
"The upsizing of our credit facility to approximately C$360 million and the broadening of the lending syndicate to include additional Schedule 1 Canadian Banks is further recognition that our best-in-class production facilities lead the industry," said Glen Ibbott, CFO of Aurora. "Access to this non-dilutive capital is a core funding source the Company intends to utilize as it further executes on its strategic growth initiatives. In addition to cash being generated from operations, the Company also has access to other unsecured debt alternatives, a number of equity investments, and has access to a C$514 million (US$400 million) At-The-Market equity program ("ATM")."
LAVAL, QC, Aug. 15, 2019 /CNW Telbec/ - Neptune Wellness Solutions Inc. ("Neptune" or the "Company") (NASDAQ: NEPT) (TSX: NEPT), announces the voting results for the matters listed in its management proxy circular dated July 16, 2019 held at its Annual and Special Meeting of Shareholders in Montreal, Canada on August 14, 2019 (the "AGM").
Election of Directors. According to proxies received and a vote by show of hands, the following individuals were elected as directors of Neptune for the ensuing year.