Weedstocks Newswire Feed
NEW YORK and TORONTO, July 16, 2018 /CNW/ - iAnthus Capital Holdings, Inc. ("iAnthus" or the "Company"), (CSE: IAN, OTCQB: ITHUF), which owns, operates, and partners with licensed cannabis operations throughout the United States, is pleased to announce that the Company has elected to exercise its right under the indenture dated February 28, 2017, as supplemented by the first supplemental indenture dated August 16, 2017 (together, the "Indenture"), governing the Company's 8.0% unsecured convertible debentures due February 28, 2019 (the "Debentures") to convert (the "Conversion") all of the principal amount outstanding of the Debentures and unpaid accrued interest thereon up to July 13, 2018 into common shares of the Company (the "Common Shares"). Pursuant to the terms of the Indenture, the Company may force the conversion of the Debentures at the conversion price of C$3.10 per Common Share when the volume weighted average ("VWAP") trading price of the Common shares on the Canadian Securities Exchange (the "Exchange") for 10 consecutive trading days equals or exceeds C$4.50.
The Common Shares have closed at a price higher than C$4.50 for every trading day since May 7, 2018. As of the close of market on July 13, 2018, the VWAP of the Common Shares on the Exchange for the previous 10 consecutive trading days equals C$6.39. The Conversion is scheduled to be effective August 16, 2018.
Pursuant to the terms of the Indenture, the directors of the Company have determined that on the Conversion, holders of Debentures will receive, for each C$1,000 amount of Debentures and outstanding interest thereon, approximately 322 Common Shares. Therefore, on August 16, 2018, the estimated remaining total of C$2,671,487 of Debentures and interest thereon outstanding will be converted into approximately 861,770 Common Shares. The Company has provided the holders of the Debentures 30 days advance written notice of its intent to exercise the Conversion.
About iAnthus Capital Holdings, Inc.
iAnthus Capital Holdings, Inc. owns and operates best-in-class licensed cannabis cultivation, processing and dispensary facilities throughout the United States, providing investors diversified exposure to the U.S. regulated cannabis industry. Founded by entrepreneurs with decades of experience in operations, investment banking, corporate finance, law and health care services, iAnthus provides a unique combination of capital and hands-on operating and management expertise. The Company uses these skills to support operations across six states. For more information, visit www.iAnthuscapital.com.
Hydropothecary ‘gets intimate’ with release of Fleur de Lune, its first medical cannabis oil for personal use
GATINEAU, Quebec, July 16, 2018 (GLOBE NEWSWIRE) -- The Hydropothecary Corporation (“HEXO” or the “Company”) (TSX:HEXO) is proud to announce the launch of Fleur de Lune, an intimate medical cannabis oil.
“With Fleur de Lune, we’re continuing to execute on our innovation and product development strategy. Fleur de Lune is yet another smoke-free medical cannabis option that responds to the evolving needs of our clients and the Canadian marketplace,” adds Sebastien St-Louis, HEXO’s CEO and Co-founder.
Fleur de Lune is a THC oil product based in an odorless, tasteless carrier oil (medium-chain triglyceride or MCT). Each 60ml bottle contains up to 600mg of THC, or 7 to 10mg/ml.
“We’re excited to be launching an intimate oil, which is a completely different use for medical cannabis. We believe Canadians will embrace this discreet way to consume their medicine,” says Sonia Isabel, Vice-President of Sales for HEXO.
Fleur de Lune is HEXO’s latest cannabis oil innovation, which includes Elixir CBD Peppermint and Elixir THC Peppermint. Other smoke-free options include the Decarb line, which won Best New Cannabis Product at the Canadian Cannabis Awards 2017.
Hydropothecary présente Fleur de Lune, sa première huile de cannabis à fins médicales pour usage intime
GATINEAU, Québec, 16 juill. 2018 (GLOBE NEWSWIRE) -- La société Hydropothecary (« HEXO » ou la « Société ») (TSX:HEXO) est fière d’annoncer le lancement de Fleur de Lune, une huile de cannabis à fins médicales pour usage intime.
« Avec Fleur de Lune, nous continuons de mettre en œuvre notre stratégie axée sur l’innovation et le développement des produits, a déclaré Sébastien St-Louis, PDG et cofondateur d’HEXO. Fleur de Lune s’ajoute aux options de cannabis médical sans fumée qui répondent aux besoins changeants de nos clients et du marché canadien. »
Fleur de Lune est un produit d’huile de THC fait à base d’une solution huileuse inodore et sans saveur (triglycéride à chaîne moyenne ou TCM). Chaque flacon de 60 ml contient jusqu’à 600 mg de THC, ou de 7 à 10 mg/ml.
« Nous sommes ravis de lancer une huile pour usage intime, ce qui représente une façon entièrement différente de consommer le cannabis médical, ajoute Sonia Isabel, Vice-présidente des ventes d’HEXO. À notre avis, les Canadiens seront enthousiasmés par cette façon discrète de prendre leurs médicaments. »
Fleur de Lune est la plus récente innovation en matière d’huile de cannabis d’HEXO, qui commercialise déjà Elixir CBD à la menthe poivrée et Elixir THC à la menthe poivrée. Parmi les autres options sans fumée, mentionnons la gamme Decarb, qui a remporté le prix du meilleur nouveau produit de cannabis au gala Canadian Cannabis Awards de 2017.
Scythian Biosciences Announces Positive Pre-Clinical Data on the Safety and Efficacy of Cannabis Derived Combination Therapy for Mild to Moderate Traumatic Brain Injury
TORONTO, July 13, 2018 (GLOBE NEWSWIRE) -- Scythian Biosciences Corp. (the "Company" or “Scythian”) (TSXV:SCYB) (Frankfurt:9SB) (OTC – Nasdaq Intl:SCCYF) and its partners at the University of Miami Miller School of Medicine are pleased to announce the results of a pre-clinical study evaluating the safety and efficacy of a cannabis derived combination therapy in the treatment of mild to moderate traumatic brain injury (TBI) in rodents.
The pilot study indicates an improvement in the cognitive functions of animals treated with a cannabinoid (CBD) derived combination therapy compared to being treated with a vehicle, CBD alone, and HU211 alone. Further, there were no adverse effects from either the combination therapy (CBD + HU211) or the individual components observed by scientists at the University of Miami Miller School of Medicine.
“We are encouraged by the initial findings of this study which provide persuasive and encouraging evidence that warrants the continuation of this research program,” said CEO Rob Reid. “We are just beginning to tap the potential healing power of medical cannabis and exploring its growing number of benefits.”
The researchers feel these results are a promising first step in their systematic evaluation of the use of CBD in the treatment of mild to moderate traumatic brain injury (TBI). These data points lay an important basic science foundation to examine the use of novel cannabinoid compounds on TBI related outcomes and provides the necessary groundwork to proceed with additional pilot studies designed to systematically explore whether this compound can mitigate the deleterious physical, cognitive and behavioral changes following mild to moderate TBI.
“These findings, which represent the initial results from our TBI study using this novel combination therapy merit further investigation in other pre-clinical models of brain injury including concussion. More work needs to be done, including evaluating the use of these compounds on other injury models and in preparing for a clinical trial of these compounds if their use is supported by the ongoing basic science research,” said Helen M. Bramlett, Ph.D. Professor, Director, Undergraduate Neuroscience Program, Department of Neurological Surgery and The Miami Project to Cure Paralysis.
CannTrust Goes West! - CannTrust's Three Recreational Supply Agreements in Western Canada projected to exceed 17,000kg annually
VAUGHAN, ON, July 13, 2018 /CNW/ - CannTrust Holdings Inc. ("CannTrust" or the "Company", TSX: TRST), one of Canada's leading licensed producers of cannabis, explodes into the adult use market with its first three recreational cannabis supply agreements. Far surpassing CannTrust's initial sales projections, combined agreements from British Columbia, Alberta and Manitoba for CannTrust's high-quality, standardized cannabis under three recreational brands – Liiv, SYNR.G and Xscape – are projected to exceed 17,000 kilograms annually. The broad range of products include dried flower, pre-rolled joint, oil and capsules. These will be available for legal purchase in cannabis retailers, as well as online, on October 17, 2018. CannTrust is excited to build on this positive momentum as supply agreements with additional provinces are currently being finalized.
"This is just the beginning for CannTrust! We are now a trusted, primary supplier in British Columbia, Alberta and Manitoba, thanks to our unparalleled product quality, value, innovations and proven expertise. These supply agreements surpass our initial expectations and we are energized to work with – and expand – our relationships with all provinces, as we continue to sign agreements across the country. It's a very exciting time for CannTrust and for Canada," says Brad Rogers, President of CannTrust.
CannTrust continues to look beyond October 17, with innovative research focused on "what's next" in the evolving Canadian cannabis market. The Company has several new products in development including hot beverages, sport drinks and alcohol products infused with THC and/or CBD, along with vape pens for hassle-free inhalation.
Thanks to extensive planning, CannTrust is ready to meet the escalating demand for its high-quality, standardized cannabis. Inventory for both the medical and recreational markets will be grown at CannTrust's new, first-of-its-kind, perpetual harvest facility in Niagara, Ontario. This facility is designed to ensure that customers always have access to top-quality product at affordable prices. The facility is currently operating at an annualized output estimated at 50,000 kilograms and, to meet projected demand, a new 600,000 sq. ft. expansion is already funded and underway. Once the Niagara facility is fully operational, output will more than double to in excess of 100,000 kilograms and will set new standards for cost effectiveness in the marketplace.
CannTrust's innovative and disciplined approach and scientific expertise that has propelled its success in the medical arena will be applied to and used to differentiate CannTrust in the adult use market. Promising unsurpassed quality, the three CannTrust recreational brands will provide this new market with consistent standardized product. At the same time, CannTrust continues its commitment to the medical market and its patients who depend on CannTrust's trusted supply of premium dried flower, cannabis oils and vegan capsules.
TORONTO, July 13, 2018 (GLOBE NEWSWIRE) -- Nutritional High International Inc. (the “Company” or “Nutritional High”) (CSE:EAT) (OTCQB:SPLIF) (FRANKFURT:2NU) is pleased to announce that it has received a US$2,000,000 conditional lease commitment (“Lease Line of Credit”) for the funding of new extraction and lab processing equipment from Veterans Capital Corp. or its assignee (the "Lender"). The terms are as follows:
The Company intends to use the Lease Line of Credit to purchase equipment for the following projects:
Closing of the Lease Line of Credit is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and stock exchange approvals, including the approval of the Canadian Securities Exchange, and execution of definitive agreements.
Jim Frazier, CEO of Nutritional High, commented, "We are pleased to continue our working relationship with Veterans Capital and look forward to deploying these funds to enhance the technological footprint of our facilities in the US. These additions will help us to continue executing the roll out of our strategic plan in California and our other targeted markets. Having access to this capital allows us the flexibility to pursue opportunities that can generate maximum value for our shareholders."
About Nutritional High International Inc.
IRVINE, Calif., July 12, 2018 (GLOBE NEWSWIRE) -- Terra Tech Corp. (OTCQX:TRTC), (“Terra Tech” or the “Company”), a vertically integrated cannabis-focused agriculture company, is pleased to announce it has agreed to sell 100% of the assets of its cannabis dispensary located at 1921 Western Avenue in Las Vegas, to Exhale Brands Nevada, for a total consideration of $6,250,000.
Located adjacent to the Las Vegas Strip, the 3,900 square foot facility for the Western Avenue dispensary was initially opened by Terra Tech in April of 2015. Terra Tech is confident that a sale is the best way to realize value for shareholders, given the significant increase in value the property has seen since it was purchased by the Company.
Terra Tech retains a significant, focused presence in the Nevada market, to which it remains committed. The Company operates its Blüm, Desert Inn Road and Blüm, Decatur Boulevard dispensaries, both of which are located in Las Vegas, as well as its Blüm Reno dispensary, in Northwest Nevada. The Company also recently opened a new, 30,000 square foot cultivation facility in Sparks, Nevada and is awaiting State approval for a 15,000 square foot extraction lab in Reno, Nevada, both of which it owns 50%, which is expected to drive a ramp in production of its premium quality cannabis for the medical and adult-use markets.
As owners of medical and adult-use cannabis business licenses in Las Vegas associated with these dispensaries, the Company has the ability to apply for additional licenses based on its grandfather status. The company will be pursuing additional permits in new locations with better proximity to major tourist attractions in Las Vegas.
Derek Peterson, CEO of Terra Tech, commented, “The valuation of the Blüm Western Avenue location has increased significantly since the store opened, driven primarily by our ability to secure a business license that enables it to operate as a cannabis dispensary. We are pleased to monetize this asset and lock in these gains as the revenues generated from this property are immaterial to our overall business. Since Nevada’s legislations state that only existing medical cannabis establishment certificate holders can apply for a retail cannabis licenses, we have the option to apply for the further business licenses in Nevada if we want. Furthermore, this transaction provides the company with additional resources to continue to fund and scale the business as it enters its next phase of growth. Terra Tech is well positioned to build on its strong momentum through increased brand recognition and our investments in infrastructure. Our other dispensaries continue to perform well and, as we ramp our cultivation and production capabilities, we also expect to see strengthening sales of our wholesale IVXX™ branded cannabis products.”
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION IN UNITED STATES
TORONTO, July 12, 2018 (GLOBE NEWSWIRE) -- Nutritional High International Inc. (the “Company” or “Nutritional High”) (CSE:EAT) (OTCQB:SPLIF) (FRANKFURT: 2NU) is pleased to announce that it is conducting a non-brokered private placement offering of $4,000,000 (the "Offering") of senior secured convertible debenture units (the "Units") by the Company.
Each Unit is comprised of one senior secured convertible debenture (each, a "Convertible Debenture") with the face value of $1,000 and 1,429 non-transferable common share purchase warrants ("Warrants") exercisable at $0.80 ("Warrant Exercise Price") for 36 months from the closing date ("Maturity Date"). The Convertible Debentures are convertible into common shares in the capital of the Company ("Common Shares") at a price of $0.70 per Common Share ("Conversion Price") at any time prior to Maturity Date. The Convertible Debentures Warrants and Common Shares that are issuable on conversion will be subject to a statutory hold period of four months and one day from the Offering closing date. The Company shall have a right to prepay a part or the entire principal amount of Convertible Debentures at any time without penalty.
The Convertible Debentures will bear interest at a rate of 10% per annum from the Closing Date payable semi-annually in arrears. The interest can be payable in cash or by issuing Common Shares against the amount due at the sole option of the Company. if the Company elects to issue the Common Shares as interest payment, the price per Common Share shall equal the 20-day volume-weighted average price, and the effective interest rate shall be increased to 12% from 10%.
The Convertible Debentures shall bear senior security and be secured by a general security agreement of the Company, guarantees from certain of the Company's subsidiaries and general security interest over the assets of these subsidiaries, subject to subordination in certain situations, as set out in the certificates representing the Convertible Debentures and security documents.
Aphria Signs MOU to Supply More Than 5,000 Kg of Cannabis to British Columbia's Retail Cannabis Market
The Company's comprehensive portfolio of adult-use brands and products will be sold online and at licensed retailers across the province
LEAMINGTON, ON, July 12, 2018 /CNW/ - Aphria Inc. ("Aphria" or the "Company") (TSX: APH and US OTC: APHQF) today announced that it has signed a Memorandum of Understanding (the "MOU") with the British Columbia Liquor Distribution Branch ("BCLDB") to provide a portfolio of high-quality, branded cannabis and cannabis derivative products for sale in BC's adult-use market.
Under the terms of the MOU, Aphria will supply more than 5,000 kg of high-quality cannabis in the first year of the agreement, which will be made available for sale online and at licensed retailers across the province. Adult-use consumers will be able to choose from a wide-ranging selection of Ontario and BC dried flower, pre-rolls and cannabis oils from the Company's portfolio of adult-use brands.
"We're incredibly proud that the BCLDB has selected our fantastic range of products and brands to be sold at the province's licensed retailers starting on October 17," said Jakob Ripshtein, Chief Commercial Officer at Aphria. "Both long-time enthusiasts and newcomers to cannabis will find that our adult-use brands and products, which include locally-grown and celebrated BC-bud from Broken Coast Cannabis, have been thoughtfully developed to meet distinct consumer needs and interests. We are thrilled to provide adult-use consumers in B.C. the opportunity to discover our brands, and to help ensure that there is an adequate supply to meet the anticipated demand in the province."
Aphria is continuing to demonstrate its readiness to provide both adequate supply and a deep selection of high-quality products across Canada starting in October. With previously announced supply agreements in Quebec, Manitoba, Alberta and New Brunswick and a cross-Canada partnership with Great North Distributors, the Company is well-prepared to meet the anticipated demand in the adult-use market. Aphria is also developing a range of innovative cannabis products that are expected to be made available in BC and elsewhere once authorized for sale under the Cannabis Act.
TSXV – HVT
VANCOUVER, July 12, 2018 /CNW/ - Harvest One Cannabis Inc. (TSXV:HVT) ("Harvest One" or the "Company") is pleased to announce a Memorandum of Understanding ("MOU") between their wholly-owned subsidiary United Greeneries and the British Columbia Liquor Distribution Board ("BC LDB") for the supply of recreational cannabis.
The Company welcomes the MOU to supply their home province with the high-quality BC grown cannabis for which United Greeneries is known. The Company is currently in negotiations with other provincial distributors and private retailers across the country.
"We look forward to partnering with the BC LDB and this agreement is an important step in establishing Harvest One's house of brands in the newly created recreational market," said Grant Froese, CEO of Harvest One. "We are excited to bring our craft cannabis products to British Columbia's consumers and we look forward to delivering to our customers a premium cannabis experience."
The company, under its brands Royal High and Captain's Choice, brings to the market a high calibre of craft cannabis grown in British Columbia. Royal High is a premium full bud product hand-picked to deliver small batch cannabis with an unrivalled flavour and quality. Captain's Choice is a high-quality milled, blended product crafted to give the consumer the best possible taste for the best possible value.