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Khiron Provides Clarification of August 12, 2019 News Release

2019-08-14 21:00:00

TORONTO, Aug. 14, 2019 /CNW/ - Khiron Life Sciences Corp. ("Khiron" or the "Company") (TSXV: KHRN), (OTCQB: KHRNF), (Frankfurt: A2JMZC), an integrated cannabis company with core operations in Latin America, wishes to clarify specific disclosure relating to the news release disseminated by the Company on August 12, 2019.

The appointment of Tejinder Virk and Franziska Katterbach will be effective October 1, 2019.

About Khiron

Khiron Life Sciences Corp. is positioned to be the dominant integrated cannabis company in Latin America. Khiron has core operations in Latin America and is fully licensed in Colombia for the cultivation, production, domestic distribution, and international export of both tetrahydrocannabinol (THC) and cannabidiol (CBD) medical cannabis. The company delivers best in class regulatory compliance, has the first approved set of CBD cosmetic products on shelf in Colombia, and is currently facilitating testing to meet and surpass all license requirements for commercial cannabis derived products.

With a focused regional strategy and patient-oriented approach, the Company combines global scientific expertise, agricultural advantages, branded product market entrance experience and education to drive prescription and brand loyalty to address priority medical conditions such as chronic pain, epilepsy, depression and anxiety in the Latin American market of over 620 million people. The Company is led by Co-founder and Chief Executive Officer, Alvaro Torres, together with an experienced executive team, and a knowledgeable Board of Directors that includes former President of Mexico, Vicente Fox.


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Harvest Health & Recreation, Inc. Continues Growth in California, Acquires Grover Beach Dispensary

2019-08-14 20:15:00

805 Beach Breaks Acquisition Marks Tenth Potential Location Right in California, Strengthening Harvest’s Presence in World’s Largest Cannabis Market

805 Beach Breaks (Photo: Business Wire)

805 Beach Breaks (Photo: Business Wire)

PHOENIX--(BUSINESS WIRE)--Harvest Health & Recreation, Inc. (CSE: HARV, OTCQX: HRVSF) (“Harvest”), a vertically integrated cannabis company with one of the largest and deepest footprints in the U.S., today announced the acquisition of Grover Beach dispensary 805 Beach Breaks, serving the San Luis Obispo, Santa Barbara, Ventura and Monterey County markets. The dispensary marks the tenth location in California for which Harvest has rights.


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Green Growth Brands Inc. Announces $102M Backstop Commitment From Key Stakeholders

2019-08-14 19:00:54


COLUMBUS, OH, Aug. 14, 2019 /CNW/ - Green Growth Brands Inc. (CSE:GGB) (OTCQB:GGBXF) (the "Company" or "GGB") announced today that it has entered into backstop commitment letters with each of All Js Greenspace LLC, Park Lane Capital Limited, and Chiron Ventures Inc. (collectively, the "Investors"), pursuant to which the Investors have committed to subscribe for and purchase, in certain circumstances, up to $102,796,241 in the aggregate (approximately US$77 million) of convertible debentures (the "Convertible Debentures") of the Company to support the Company's operations and capital needs (the "Commitment Letters").

Pursuant to the terms of the Commitment Letters, the Company is entitled to require each of the Investors to fulfill their respective commitments for a period of 12 months (the "Term") following completion of the Company's previously announced C$50,225,000 prospectus offering of units (the "Offering") as follows: (i) as to up to US$52,325,000 (in the aggregate), in the event that the Company's existing secured convertible debt cannot be extended or refinanced prior to the maturity date thereof and (ii) as to up to US$25,000,000 (in the aggregate), in the event the Company requires capital to fund operations during the Term. The Convertible Debentures, if issued, will have a maturity date of 12 months from the date of issuance (the "Maturity Date") and will be convertible upon the election of the applicable Investor at any time up to and including the Maturity Date into, in respect of the commitments from non-U.S. resident Investors, common shares of the Company ("Common Shares") at a conversion price equal to C$2.45 per Common Shares and, in respect of the commitment from the U.S. resident Investor, proportionate voting shares of the Company ("Proportionate Voting Shares") at a conversion price per Proportionate Voting Share equal to C$1,225 (being equivalent to C$2.45 per common share) divided by the Canadian-US exchange rate on the business day prior to conversion. Interest on the Convertible Debentures will accrue daily and will be payable on the Maturity Date. On the Maturity Date or upon the election of the applicable Investor, the principal amount of the Convertible Debentures shall be payable by the Company in cash (together with all accrued interest payable thereon) or, at the option of the applicable Investor, into Common Shares or Proportionate Voting Shares, as the case may be, at the applicable conversion price, without adjustment for interest accrued on the Convertible Debentures or for dividends or distributions on the Common Shares or Proportionate Voting Shares, as the case may be, issuable upon conversion, all subject to the terms and conditions to be set forth in the definitive form of Convertible Debenture to be issued by the Company in form an substance satisfactory to the Investor and the Company, each acting reasonably.

If issued, the obligations of the Company under the Convertible Debentures will be secured by a general security agreement over all of the Company's applicable present and after-acquired personal property and will be subordinate to the Company's existing secured convertible debt. In connection with the Commitment Letters, and following the completion of the Offering, the Company will pay the Investors a fee in the aggregate of US$3,866,250, payable through the issuance of (i) Common Shares at a price equal to the closing market price of the Common Shares on the trading day immediately prior to such issuance, in the case of the non-U.S. resident Investors and (ii) Proportionate Voting Shares, at a price equal to the closing market price of the Common Shares on the trading day immediately prior to such issuance, multiplied by 500 and divided by the Canadian-U.S. exchange rate on such date, in the case of the U.S. resident Investor.

All Js Greenspace LLC and Chiron Ventures are considered "insiders" of the Company and, as a result, the transactions contemplated by Commitment Letters constitute a "related party transaction" within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101"). As a result, the following additional disclosure details are provided, following the listing of disclosure in section 5.2 of MI 61-101.  The distribution of an information circular to shareholders, the preparation and distribution of a formal valuation and the seeking of shareholder approval for, and in connection with, the Commitment Letters is not necessary under M 61-101, because:


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Avicanna Reports Second Quarter 2019 Financial Results

2019-08-14 19:00:06


TORONTO, Aug. 14, 2019 /CNW/ - Avicanna Inc. ("Avicanna" or the "Company) (TSX: AVCN) a biopharmaceutical company focused on the development, manufacturing and commercialization of plant-derived cannabinoid-based products announces results for the second quarter ended June 30, 2019.

Aras Azadian, Chief Executive Officer of Avicanna, commented "We are pleased to report our second quarter financials, which provide insight into our strong infrastructure and the maturity of our various business units as we near commercialization. Within the last quarter we have validated our cultivation projects with commercial crops, extraction and preparation of active pharmaceutical ingredients, completion of a pilot production run for our finished products and the start of our first clinical trial. Additionally, we are proud to have listed on the Toronto Stock Exchange, senior board, as a research and development issuer, which we aim to leverage for our future growth."

Operational Highlights

Approval of Genetics


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Canopy Growth drives revenue with 94% increase in recreational dried cannabis sales in first quarter of fiscal 2020

2019-08-14 17:00:01

Adjusted EBITDA up more than $5M (CDN) versus prior quarter; Company positioned to bring CBD products to U.S. market by end of fiscal 2020; Record harvest of over 40,000 kg


1 Includes negative impact of revenue adjustments which represent the Company's estimate of variable consideration that may result from rights of return given speed of retail store roll-outs, and which primarily relate to oils and softgels, and the impact from other revenue adjustments on excise taxes.


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Delta 9 Agrees to Increase Bank Credit Facility to $18.1 Million

2019-08-14 17:00:00

WINNIPEG, Aug. 14, 2019 /CNW/ - DELTA 9 CANNABIS INC. (TSX-V: DN) (OTCQX: VRNDF) ("Delta 9" or the "Company") is pleased to announce that it has come to terms on an amendment to the Company's borrowing arrangement with Canadian Western Bank (the "Bank") to provide for an increase to its existing loan and credit facility by the addition of certain loan segments and amendments to certain existing loan segments. The changes will bring the Company's total credit facility with the Bank to approximately $18.19 Million.

"This increased debt financing, together with our recently completed short form prospectus offering of debenture units have well-positioned us to continue the Company's growth and implementation of its business plan for the remainder of the year," said Delta 9 CEO John Arbuthnot.

The Company announced the terms of its financing arrangements with the Bank on July 24, 2018 (the "Original Financing"). The principal terms of the amendment to the Original Financing provide for the following:

"The relationship between our Company and the Bank since the date of the Original Financing has grown steadily, and the proposed terms for these amendments demonstrate the strength of our mutual trust. We have watched Canadian financial institutions becoming more comfortable with the cannabis industry each day, and our experience with the Bank over the past year is a testament to the mutual benefits that can follow from collaboration between the two industries," said Arbuthnot.


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Trulieve Reports Strong Operational Results, Record Revenue and Profits, and Grows Footprint in the Second Quarter of 2019

2019-08-14 17:00:00

Company achieving new operational efficiencies and strong financial discipline as it rolls out growth and expansion initiatives as a multi-state operator

TALLAHASSEE, FL, Aug. 14, 2019 /CNW/ - Trulieve Cannabis Corp. ("Trulieve" or the "Company") (CSE: TRUL) (OTCQX: TCNNF), today announced its financial results for the second quarter of 2019 ended June 30, 2019. Unless otherwise stated, all currency is expressed in U.S. dollars.

Second Quarter 2019 Financial & Operational Highlights

Recent Highlights & Developments


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