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Ascent Industries Provides Update on Health Canada

2019-02-07 09:00:00

VANCOUVER, Feb. 7, 2019 /CNW/ - Ascent Industries Corp. (CSE: ASNT) ("Ascent" or the "Company") announces that it has received further correspondence from Health Canada (the "Agency") regarding the suspension and proposed revocation of the Canadian producer's licence and dealer's licence (collectively, the "Licences") issued by the Agency to Agrima Botanicals Corp ("Agrima"), a wholly-owned subsidiary of the Company.

Health Canada has repeated its previous position that the Company has failed to demonstrate that the suspension, and proposed revocation, of Agrima's Licenses is unfounded, or that the failures that gave rise to the suspension were rectified.  The Agency re-iterated its concerns that unauthorized activities with cannabis took place after the Canadian producer's licence and dealer's licence were granted to Agrima, in contravention of the ACMPR and Controlled Drugs and Substances Act (now regulated under the Cannabis Act).  Health Canada has therefore advised that it still intends to revoke the Licenses, and has given Ascent until February 20, 2019 to make any additional submissions.

Ascent previously launched an investigation into these alleged contraventions of the ACMPR and Controlled Drugs and Substances Act (now regulated under the Cannabis Act) which is ongoing, including a forensic analysis of the Company's books and records.

Should the Company not be successful in its attempt to have the Licences re-instated so that it may commence operations and generate revenue and cash flow in Canada, the Company's ability to continue as a going-concern may be in doubt.  As previously disclosed by the Company, a strategic review process is continuing, with a view to stabilizing the Company's financial position and maximizing the value of the Company.

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Chinook's subsidiary, AMP Alternative Medical Products, enters into a memorandum of understanding with Pure Life Cannabis for export to Germany

2019-02-07 09:00:00

ERFURT, Germany and EDMONTON, Feb. 7, 2019 /CNW/ - AMP Alternative Medical Products GmbH ("AMP"), a subsidiary of Chinook Tyee Industry Limited ("Chinook") (TSXV: XCX), has entered into a non-binding Memorandum of Understanding Production Supply Agreement ("MOU") with Pure Life Cannabis Corporation ("PLCC"), a late-stage Health Canada applicant to become a licensed producer of cannabis ("LP") based in Edmonton, Alberta.

PLCC is in the process of building a 27,280 square foot Phase 1 facility, which it anticipates can produce approximately 2,000 kilograms of EU-GMP cannabis flower annually and 8,000 kilograms of cannabis flower product for the Canadian marketplace.

The non-binding MOU covers the purchase of up to 1,200 kilograms of cannabis flower annually in the first year of production, increasing thereafter when PLCC proceeds with Phase 2 and 3 expansion plans. Pursuant to the non-binding MOU, PLCC is in the process of conducting an EU-GMP gap analysis with AMP's German pharmaceutical consultants.  Upon completion of the PLCC Phase 1 facility, AMP's German pharmaceutical consultants intend to conduct an audit of the facility. If EU-GMP standards are met, AMP and PLCC intend to enter into a Definitive Supply Agreement outlining pricing and monthly supply volumes, which agreement will also contain a number of conditions in order to complete the transactions contemplated herein. AMP intends to arrange for final EU-GMP certification by German State Officials and apply for the required import licenses for medical cannabis to Germany.

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Chemesis International Inc. Acquires Intellectual Property for High-Quality Cannabis Extraction

2019-02-07 08:05:00

Chemesis acquires the IP and physical extraction equipment for a methodology that utilizes a low-temperature process to produce a high concentration cannabis oil that preserves all constituents and phytocannabinoids

VANCOUVER, British Columbia, Feb. 07, 2019 (GLOBE NEWSWIRE) --  Chemesis International Inc. (CSE: CSI) (OTC: CADMF) (FRA: CWAA) (the “Company” or “Chemesis”), announces it has acquired intellectual property (“IP”) and the physical equipment for an extraction methodology to preserve all of the phytocannabinoids and terpenes from cannabis utilizing a low-temperature process to create “live resin”. The method will allow the Company to produce a unique variety of finished goods such as tinctures, shatters, vapes, oils and other consumer products that can be varied to achieve desired potencies of different cannabinoids and terpenes.

The Company will relocate the extraction assets, which are currently situated in a licensed facility in San Diego County, CA, to its extraction facility in Cathedral City, CA.  The sales staff will be retained and integrated into the Chemesis operations with the focus expanding to the entire family of brands. This will provide the Company a third extraction method to complement its current ethanol and butane hash oil (BHO) methods. The low temperature extraction will preserve 100% of the natural cannabinoids, increasing yields and eliminating many of the operating costs normally associated with other method processes such as winterization, filtration and evaporation.

This new methodology will allow the Company to bring forward a variety of new products to the marijuana and hemp markets that have not been altered by high heat or solvents, which can degrade the quality of cannabinoids.  With this transaction, the Company has initial monthly purchase orders in excess of $200,000USD.

“The new IP we have acquired will allow Chemesis to manufacture products for consumers that will be among the highest quality and potency in the market,” said CEO, Edgar Montero. “Chemesis intends to leverage this technology throughout our family of brands to target consumers that are looking for both high quality and cannabinoid entourage effects. The Company also believes the addition of this IP showcases our continued focus on products that are leading the industry in both extraction methodology and product innovation.”

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Consumers Now Seeking Higher Grade CBD Infused Products

2019-02-07 08:00:45

FinancialNewsMedia.com News Commentary

PALM BEACH, Florida, Feb. 7, 2019 /CNW/ -- This is one of those times when the all consumers, growers, producers and regulators all want the same thing… they all demand for a way to get accurate and reliable scientific cannabis potency testing. Well Canadian researchers have done just that! Researchers at the University of British Columbia, have:"… developed a new method of measuring phytocannabinoids -- the primary bioactive molecules in cannabis -- that will lead to faster, safer and more accurate information for producers, regulators and consumers alike. With the coming legalization of cannabis in Canada, producers are increasingly looking for quick and accurate means of determining the potency and quality of their products. Researchers at UBC's Okanagan campus have developed a new method of measuring phytocannabinoids -- the primary bioactive molecules in cannabis -- that will lead to faster, safer and more accurate information for producers, regulators and consumers alike. Active companies in the cannabis industry includes: CROP INFRASTRUCTURE CORP. (CSE:CROP) (OTC:CRXPF), CV Sciences, Inc. (OTC: CVSI), Canopy Growth Corporation (NYSE: CGC) (TSX: WEED), The Supreme Cannabis Company, Inc. (OTC: SPRWF) (TSX: FIRE.TO), Namaste Technologies Inc. (OTC: NXTTF) (TSX-V: N).

Also mention in the recent article: "There is growing demand on testing labs from licensed cannabis growers across the US and Canada who are under pressure to perform potency testing on ever-increasing quantities of product," says Matthew Noestheden, PhD chemistry student under Prof. Wesley Zandberg at UBC's Okanagan campus. "Traditional tests can take upwards of 20 minutes to perform, where we can do it in under seven. It will save a great deal of time and money for producers with enormous greenhouses full of thousands of samples requiring testing."

CROP INFRASTRUCTURE CORP. (CSE:CROP) (OTCPK:CRXPF) (Frankfurt: 2FR) BREAKING NEWS: CROP INFRASTRUCTURE announced today its Washington State tenant's first crops have had successful test results. The samples showed a range of Tetrahydrocannabolic Acid ('THCA') results and passed all tests for microbial impurities and no detectable pesticides. THCA is not directly used, but its presence is commonly analyzed when cannabis, or hemp-based products, are screened for THC. The tenant is now approved to begin selling the products in the Washington State market.

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CBD Market Could Outpace Entire Marijuana Market

2019-02-07 08:00:45

Financialnewsmedia.com News Commentary

PALM BEACH, Florida, Feb. 7, 2019 /CNW/ -- In the horse race to revenues, it seems that CBD infused products market may outpace the cannabis market, with the passage of the 2018 Farm Bill kicking it ahead across the finish line! A report from a cannabis industry analyst, as reported in The Rolling Stone magazine, says: "For years, experts have predicted that if the cannabis industry expands at its current rate, the American market will reach $20 billion by 2020. But it turns out that one market is spinning off into a mega-industry of its own: according to a new estimate from cannabis industry analysts the Brightfield Group, the hemp-CBD market alone could hit $22 billion by 2022." In fact the Rolling Stone sub-headline sums it up the reason why: "Looking forward to relaxed hemp regulations, a new analysis estimates that the CBD market could explode — and outpace marijuana.". Previously, CBD products have been available mostly in head shops, with a few doctors recommending it for various maladies. But in 2017 and 2018, the products spread to natural food stores, beauty aisles, cafés and doctors offices. So far the industry is on track to hit $591 million in 2018, and thanks to a number of factors — including, surprisingly, Senate Majority Leader Mitch McConnell — that could increase 40 times in the next four years."   Active companies in the markets this week include The Yield Growth Corp. (CSE:BOSS) (OTC:BOSQF), Aphria Inc. (NYSE: APHA) (TSX:APHA), Harvest Health & Recreation Inc. (CSE: HARV) (OTC: HRVOF), 1933 Industries Inc. (CSE: TGIF) (OTC: TGIFF), MedMen Enterprises Inc. (CSE: MMEN) (OTC: MMNFF).

"According to the (Brightfield's) projections, there would be increases in just about every sector that sells CBD — from dispensaries to smoke shops to medical companies. But perhaps the biggest push, according to Gomez, would be from big-box retailers and national chains who have been eager to get in on the lifestyle craze but have felt stifled by the (older )regulations (that have been replaced by the passage of The 2018 Farm Bill."

The Yield Growth Corp.

(CSE:BOSS) (OTCPK:BOSQF)

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Premier Health Announces Partnership Strategy for Expansion into Cannabis Clinics

2019-02-07 08:00:45

VANCOUVER, British Columbia, Feb. 7, 2019 /CNW/ -- Premier Health Group (CSE: PHGI) (OTCQB: PHGRF) (Frankfurt: 6PH) (the "Company" or "Premier Health"), a Company focused on developing innovative approaches that combine human skill based expertise with emerging technologies for the healthcare industry, announced today as a part of its expansion plans,  the Company is now formally entering the cannabis clinic space.

The recent acquisition of Cloud Practice has provided an underlying platform to help empower and streamline patient-doctor interaction. "We are currently working on a partnership model to hard code the decision-making process into the Electronic Medical Records (EMR)," said Dr. Essam Hamza, CEO of Premier. "There has been a critical gap between the patient's need for medical cannabis and the doctor's knowledge and comfort level in prescribing it. At Premier we understand the frustration felt from both the patient and the doctor and are integrating what we think is a revolutionary process. This new tool will allow us to provide a much-needed service to the 287 clinics and almost 3 million patients in our ecosystem."

Much of the traditionally labor-intensive process of onboarding patients will now be done automatically with Premier's smart EMR. The doctor will just need to identify patients with conditions that could warrant medical cannabis consideration and the integrated technology will assess the patient's data, and through the use of analytics, output a comprehensive recommendation along with links to corresponding medical research specific to the diagnosis. Thus, providing essential education and guidance to doctors enabling them to make informed decisions on medical cannabis qualification, dosing and prescriptions.

Additionally, the Company has been in discussions with a short list of Canadian Licensed Producers (LP) under the Access to Cannabis for Medical Purposes Regulations (ACMPR) in order to partner with a, or multiple, LP(s) to provide doctor and patient education at the clinic level.

The company expects to provide additional updates on its expansion later in Q1 2019.

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Supreme Cannabis Expands Domestic Distribution to Eight Provinces

2019-02-07 08:00:30

TORONTO, Feb. 7, 2019 /CNW/ - The Supreme Cannabis Company, Inc. ("Supreme Cannabis" or the "Company") (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1) announced that the Company's wholly owned subsidiary, 7ACRES, has entered into a supply agreement with the New Brunswick Liquor Corporation to supply recreational cannabis to its retail stores and has been registered as a supplier in the province of Saskatchewan.

TORONTO, Feb. 7, 2019 /CNW/ - The Supreme Cannabis Company, Inc. ("Supreme Cannabis" or the "Company") (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1) announced that the Company's wholly owned subsidiary, 7ACRES, has entered into a supply agreement with the New Brunswick Liquor Corporation to supply recreational cannabis to its retail stores and has been registered as a supplier in the province of Saskatchewan.

Saskatchewan and New Brunswick become 7ACRES' seventh and eighth provincial partners alongside British Columbia, Alberta, Manitoba, Ontario, Nova Scotia and PEI.

"We're excited to announce that 7ACRES-branded products will be available for adult-use in eight Canadian provinces coast-to-coast," said Navdeep Dhaliwal, CEO of Supreme Cannabis. "In a short amount of time, 7ACRES has won multiple awards and received overwhelmingly enthusiastic consumer feedback. Our Company has made it a priority to expand 7ACRES' domestic distribution so that more Canadians will be able to experience our High-End CannabisTM products."

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Lift & Co. to Hold Investor Conference Call today to discuss Multi-Year Retail Training Program for Ontario Retailers

2019-02-07 08:00:30

/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES/

TORONTO, Feb. 7, 2019 /CNW/ - As announced this morning, Lift & Co. Corp. ("Lift & Co." or the "Company") (TSXV: LIFT) is pleased to report that the Alcohol and Gaming Commission of Ontario ("AGCO") has approved the Company's retail training program, CannSell, as the sole mandatory training certification in Ontario ("Ontario Program") on a multi-year commitment. Pursuant to the Cannabis License Act and Ontario Regulation 468/18, all Ontario cannabis retail employees, holders of retail store authorizations and holders of cannabis retail manager licences must be CannSell certified prior to legally working in the Province's cannabis retail stores, which are slated to open for business on April 1, 2019. Lift & Co. will be hosting an investor call to discuss the significance of this milestone.

"Without a doubt, launching the AGCO-approved CannSell as the only approved mandatory retail certification program in the Province is a major milestone in our company's continued growth," said Matei Olaru, CEO of Lift & Co. "CannSell is a validation of Lift & Co. strategically identifying the retail opportunity years ago and successively executing against it better than any competitor. We are committed to continuing to build-out our first-mover advantage in this new consumer packaged goods industry by educating the biggest point of influence in this industry's value chain."

The approval of CannSell has the following benefits to Lift & Co. and its shareholders:

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Global Industrial Hemp Production Picking up Steam Quickly

2019-02-07 08:00:30

PALM BEACH, Florida, Feb. 7, 2019 /CNW/ -- The seemingly never ending rise of revenue projections for hemp products goes hand-in-hand with the consumer markets growing acceptance of the products inherent attributes. Research reports find that: "The global industrial hemp market size was estimated at USD 3.9 billion in 2017, expanding at a CAGR of 14.0% over the forecast period. Growing demand for hemp-based food products including cooking oil, dairy alternatives, flour, and salad dressings is expected to drive market growth. In addition, rising demand for bakery products such as bread and cookies is expected to drive the market. The report continues:" The industry is witnessing growth on account of increasing consumer awareness pertaining to benefits associated with hemp products. The product is a rich source of omega-3 and omega-6, amino acids, and proteins. These nutrients aid in insulin balance, cardiac function, mood stability, and skin and joint health, which is expected to complement industry growth." Active companies in the cannabis industry this week includes: Future Farm Technologies Inc. (CSE: FFT) (OTCQB: FFRMF), Green Growth Brands Inc. (CSE: GGB) (OTC: GGBXF), Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB), The Green Organic Dutchman Holdings Ltd. (OTC: TGODF) (TSX-V: TGOD), OrganiGram Holdings Inc. (OTC: OGRMF) (TSX-V: OGI). The researchers added: "The global industrial hemp market size is expected to reach USD 10.6 billion by 2025, according to a new report by Grand View Research, Inc. The market is anticipated to expand at a CAGR of 14.0% during the forecast period. Rising demand for oil in food and beverages owing to growing awareness regarding dietary advantages of hempseed and oil is expected to propel demand.

Future Farm Technologies Inc. (CSE: FFT) (OTCQB: FFRMF) BREAKING NEWS: As it prepares to begin selling its inventory of Cherry Wine hemp seeds for CBD-producing hemp, Future Farm Technologies is pleased to announce that its Maine subsidiary, Future Farm Maine, will soon be offering for sale its inventory of Cherry Wine hemp seeds for CBD-producing hemp. Click here to view Future Farm Maine's harvest video. In 2018, Future Farm hand-selected the Cherry Wine seeds to be offered for sale from more than 50,000 hemp plants to allow purchasers of those seeds to maximize the success of their harvests of hemp. The Company expects the sales of those seeds during calendar 2019 to have a significant positive impact on both its revenue and bottom line, as compared to the current fiscal year, because the costs associated with producing those seeds are expected to be significantly less than the revenue that the sale of the seeds will generate. Future Farm is in the process of creating a website to support its seed sales effort, but in the meantime inquiries can be sent to sales@futurefarmtech.com. As these efforts advance in Maine, the Company's lab in Belfast is up and running, collecting data to enable the Company to refine procedures as needed and begin sales of CBD distillate in the near future. In March, Zachary Lapan, Manager of the Company's Maine cultivation and processing operations, along with George Groccia, Future Farm's organizational and operational manager, will share their experience working on the Maine farm as speakers at the 2019 New England Cannabis Convention in Boston. Read this full announcement and more news for Future Farm Technologies at: https://www.financialnewsmedia.com/news-fft/ Additional cannabis industry related developments from around the markets: Green Growth Brands Inc. (CSE: GGB.CN) (OTCQB: GGBXF) recently the company announced that it executed an arm's length definitive agreement to acquire control of ZLJT LLC & Arizona Natural Pain Solutions Inc, collectively referred to as "Desert Rose". Desert Rose holds a license for a vertically-integrated operation in Arizona , including retail, cultivation & infusion (kitchen). As consideration for the membership interests, GGB will pay an aggregate purchase price of USD$12,350,000 (CAN$16,292,120) in cash.

"We were very impressed with the quality of the operations held by Arizona Natural Pain Solutions," said Green Growth Brands CEO Peter Horvath . "At Desert Rose, the team is dedicated to providing their customers with medical marijuana products that are pure, safe, and efficient while striving to keep their costs as affordable as possible. This strategy fits perfectly with our plans to grow the world's premier cannabis retailing business."

Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB) announced today that its extraction technology partner, Radient Technologies ("Radient") (TSX-V: RTI; OTCQX: RDDTF), has received its Standard Processing License from Health Canada. In 2016, Aurora identified Radient's proprietary extraction technology (MAP™) as potentially disruptive for the cannabis industry due to its ability to achieve much higher throughputs than is possible with existing benchmark technologies, as well as its efficiency and ability to preserve the full spectrum of cannabinoids and terpenes found in the source material. These aspects provide key competitive advantages in the development and large-scale production of high-quality derivative products.

The Green Organic Dutchman Holdings Ltd. (OTCQX: TGODF) (TSX-V: TGOD) yesterday the company announce that, further to its news release of January 24, 2019 announcing the record date for the distribution (the "Distribution") of unit purchase warrants ("SpinCo Unit Warrants") of TGOD Acquisition Corp. ("SpinCo") under its previously announced plan of arrangement with SpinCo (the "Arrangement"), TGOD has now mailed an election form (the "Election Form") to all registered TGOD shareholders of record as of January 31, 2019 (the "Distribution Record Date") who have an address of record outside the United States . All non-U.S. registered TGOD shareholders of record as of the Distribution Record Date who wish to receive the SpinCo Unit Warrants they are entitled to under arrangement must complete the Election Form and deliver it to Computershare Investor Services Inc. as the tabulation agent (the "Tabulation Agent") by 4:00 p.m. ( Toronto time) on February 22, 2019 (the "Election Deadline") or they will lose their right to receive any SpinCo Unit Warrants.

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Liht Cannabis Corp. Announces Signing of $10,000,000 Non-Dilutive Development Agreement For Its Project In Celista, British Columbia

2019-02-07 08:00:01

KELOWNA, BC, Feb. 7, 2019 /CNW/ - Liht Cannabis Corp. (CSE: LIHT) (OTCQX: LIHTF) or the "Company") is pleased to announce, further to news releases dated June 25, 2018, August 21, 2018 and September 26, 2018, the Company has entered into a development agreement (the "Development Agreement") dated January 30, 2019 with 1186626 B.C. Ltd., a private British Columbia corporation for its project in Celista, British Columbia.

The Development Agreement with 1186626 B.C. Ltd., provides Liht with C$10,000,000 of non-dilutive financing to build-out operations in British Columbia. Funding will be provided in tranches over a two-year period based on certain development and production milestones. The Company is not selling an interest in the Celista project.

The Company has agreed to, over time, pay back the capital contributions, plus interest at a rate of prime plus 5% and 50% of the potential distributable cash from the Celista cannabis operations, if any, for three (3) years after the date that all ten (10) facilities (each 10,000 square feet) are concurrently in full production and fully operational. The estimated timeline to complete the construction of all ten (10 facilities) is conservatively two (2) years at an approximate cost of C$2,500,000 per facility.

The first two (2) 10,000 sq. ft buildings continue to meet early construction milestones.

Building 1

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