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TORONTO, April 23, 2019 /CNW/ - National Access Cannabis Corp. ("NAC" or the "Company") (TSXV: META), Canada's largest private cannabis retailer, today announced it has received approval from the Alberta Gaming, Liquor and Cannabis Commission ("AGLC") to open a new store at 130, 5403 Crowchild Trail NW, Calgary Alberta.
"The Crowchild Trail store marks the 25th store in our portfolio," said Mark Goliger, CEO of NAC. "We're encouraged by increases in available inventory in Alberta where we have an additional 18 licenses submitted and awaiting approval. We have the largest footprint of retail cannabis stores in the province of Alberta, and Canada as a whole, and we expect to maintain this position by continuing to aggressively pursue expansion opportunities in the early stage, and extremely high growth, cannabis industry."
NAC is the national leader in retail cannabis. Currently operating in 3 provinces, NAC plans to open stores in British Columbia within 2019, and in Ontario within 2020. NAC's experienced team of retail industry professionals is focussed on achieving its business plan of having 40 operating stores by the end of calendar 2019, and 110 operating stores by the end of calendar 2020.
Previous announcements regarding NAC's retail store expansion may be found through the following links:
LAS VEGAS, April 23, 2019 /CNW/ - Planet 13 Holdings Inc. (CSE: PLTH) (OTCQB: PLNHF) ("Planet 13" or the "Company"), a leading vertically-integrated Nevada cannabis company, announced today that April 20, 2019 ("420") was the single biggest shopping day since the Company's Cannabis Entertainment Complex (the "SuperStore") opened on November 1, 2018.
"The unparalleled shopping and entertainment experience offered by the SuperStore has made it a draw for both cannabis connoisseurs from across the U.S. and internationally, as well as for the many casual cannabis users that come to Las Vegas every week for world-class entertainment," said Larry Scheffler, Co-CEO of Planet 13. "With our Phase II expansion underway and the Company's visibility increasing, we are well-positioned to continue growing both within our existing Las Vegas footprint and across the U.S."
Phase II construction remains on schedule for opening in Q3 2019. Phase II which includes a coffee shop, bistro, event space, and consumer-facing production facility is expected to drive additional awareness, traffic, and spend, cementing the Planet 13 SuperStore as a must-see destination for anyone from the cannabis curious to the cannabis connoisseur visiting Las Vegas.
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VANCOUVER, April 23, 2019 /CNW/ - Zenabis Global Inc. (TSXV:ZENA) ("Zenabis" or the "Company") announces that it has expanded its recreational cannabis product offerings for the first time from purely dried flower to include pre-roll products under a new ultra-premium brand called Blazery as well as pre-roll and oil products under its existing recreational brand Namaste.
"We are very excited to announce the rollout of our new recreational products as they represent a tangible milestone in our product expansion strategy, which will contribute to overall revenue growth in 2019," stated Andrew Grieve, Chief Executive Officer of Zenabis. "In particular, the rollout of our oil products in the form of soft gel capsules and sprays starting next month represent a significant value driver for the company moving forward."
The Company's new pre-roll products, initially launched in stores in mid-April, are currently being carried in its key markets of New Brunswick and Nova Scotia. By the end of 2019, Zenabis intends to supply all jurisdictions where it has supply arrangements in place once additional cultivation production capacity comes online over the course of 2019.
Following the receipt of its oil license as announced in news on March 18, 2019, the Company has begun offering cannabis oil products under its recreational Namaste brand. Initially, the Company will be offering cannabis oil products in 30 mL bottles and will offer additional products such as soft gel capsules and sprays starting in May 2019.
CannaOne Announces Specific Partnership Details of the BWell US CBD Marketplace with Real Health Science
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VANCOUVER, April 23, 2019 /CNW/ - CannaOne Technologies (CNNA: CSE/FSE: 3CT) ("CannaOne" or the "Company") is pleased to provide details of the partnership previously announced with Real Health Science last month. On April 15, 2019, it was formally agreed that CannaOne would retain a 25% ownership stake of the US CBD marketplace to be branded as 'BWell' with CannaOne acting as facilitator and operator of BWell alongside Real Health Science. The 25% ownership is granted to the company for marketing and development services over the next 24 months. The agreement also included a further caveat that CannaOne has an option to acquire up to an additional 24.99% interest in the BWell within the next 24 months subject to terms and conditions to be defined in future. BWell is to be an online CBD product purchase and delivery e-commerce marketplace covering the entirety of the United States.
CannaOne CEO Solomon Riby-Williams stated "The BWell branded US CBD marketplace, utilizes the vast relationships and large network of high-quality CBD suppliers possessed by Real Health Science, such that it will be able to provide the CBD market premium products and services at extremely competitive pricing. The large and ever-increasing demand for CBD products makes this partnership with Real Health Science the perfect opportunity to implement our proprietary Bloomkit cannabis technology platform as the underlying baseline foundation driving the BWell CBD marketplace."
"Riby-Williams added, "The timing of the launch of the BWell marketplace could not be any better - CBD is finding its way into a great quantity of everyday products spread across a wide array of consumer requirements. It's being unabashedly embraced by all sorts of demographics and BWell will be right there with them ensuring that they receive the best products in the timeliest manner to satisfy those needs.
This transaction positions FSD to help contribute to addressing the opioid crisis through use of synthetic cannabinoids
TORONTO, April 23, 2019 /CNW/ - FSD Pharma Inc. (CSE: HUGE) (OTCQB: FSDDF) (FRA: 0K9) ("FSD Pharma" or the "Company") and Prismic Pharmaceuticals Inc. ("Prismic"), a US-based specialty R&D pharmaceutical company, announced today that they have entered into a securities exchange agreement dated April 22, 2019 (the "Agreement") pursuant to which FSD Pharma has agreed to acquire all of the outstanding securities of Prismic (the "Transaction"). Prismic is developing novel non-addictive prescription drugs with unique safety profiles with the goal of addressing the opioid crisis based on formulations utilizing micro-palmitoylethanolamide's ("PEA") "entourage" effect on certain drugs impacting the endocannabinoid system.
Pursuant to the terms of the Agreement, FSD Pharma will acquire all outstanding common and preferred shares of Prismic for an aggregate purchase price of US$17.5 million (CAD$23.4 million based on an exchange rate of US$1 to CAD$1.3349), to be satisfied by the issuance of an aggregate of 102.7 million Class B subordinate voting shares in the capital of FSD Pharma (each, an "FSD Share") at a deemed price of CAD$0.2275 (US$0.1704) per FSD Share representing the volume weighted average price of the FSD Shares on the Canadian Securities Exchange (the "CSE") for the ten trading days prior to the execution of the Agreement. In addition, FSD Pharma has agreed to assume up to US$4.0 million of outstanding Prismic liabilities on terms to be mutually agreed by the two companies, some of which may, potentially, be settled by the issuance of additional FSD Shares. Additionally, all of the outstanding Prismic stock options and warrants will become exercisable into FSD Shares, with the number and exercise price of such securities to be adjusted in accordance with the Transaction's exchange ratio.
The FSD Shares to be issued to the Prismic shareholders will be deposited into escrow at the closing of the Transaction, and be subject to an 18-month staggered time escrow release.
"This transaction symbolizes FSD Pharma's vision of acquiring a platform company to advance research and development of FDA-approved applications of synthetic cannabinoids and other synergistic molecules," said FSD Pharma Executive Co-Chairman & CEO, Dr. Raza Bokhari. "Led by Peter Moriarty, one of the founders of Shire Pharmaceuticals, Prismic's management team has built a solid foundation for a specialty pharmaceutical company, and we look forward to providing them with milestone-based support in order to advance proprietary drug candidates through the various development stages. This is a very exciting day for FSD Pharma that we believe represents a paradigm shift in the development and outlook of our company."
WINNIPEG, April 22, 2019 /CNW/ - DELTA 9 CANNABIS INC. (TSXV: NINE) (OTCQX: VRNDF) ("Delta 9" or the "Company"), is pleased to announce financial and operating results for the year ending December 31, 2018.
2018 Year End Financial Highlights
4th Quarter, 2018 Versus 3rd Quarter, 2018 Results
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TORONTO, April 22, 2019 /CNW/ - TerrAscend Corp. (CSE:TER) ("TerrAscend" or the "Company") today announced that the Company intends to complete a non-brokered private placement (the "Private Placement") to raise approximately US$20 million – US$30 million through the issuance of approximately 3.5 million to 5.2 million common shares in the capital of the Company (the "Common Shares") at an issue price of US$5.73 per Common Share.
The Company has received an indicative lead order from funds advised by JW Asset Management, LLC ("JW") for a minimum investment of US$10,000,000. Prior to giving effect to the Private Placement, JW directly or indirectly owns or controls approximately 35,021,529 Common Shares (as-converted from proportionate voting shares), representing approximately 30% of the issued and outstanding Common Shares on a non-diluted, fully-converted basis.
The Company intends to use the proceeds from the Private Placement to fund its United States acquisition strategy and for working capital and general corporate purposes.
The issuance of Common Shares to JW, an affiliate of Jason Wild, chairman of TerrAscend, and current insider of the Company, will be exempt from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 ("MI 61-101") by virtue of the exemptions contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in that JW's proposed subscription does not exceed 25% of the Company's market capitalization. The terms of the Private Placement were reviewed and unanimously approved by the disinterested members of the Company's board of directors.
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TORONTO, April 22, 2019 /CNW/ - FIGR, Inc., a vertically-integrated legal Canadian cannabis company, announced today that significant changes are in its future regarding its product packaging, making it more sustainable. The decision to improve packaging follows consumer feedback on the sustainability and recyclability of packaging within the Canadian cannabis industry.
From August to November 2019, FIGR plans to phase in new packaging across its Craft product line that is intended to take up 50 per cent less physical space than current packaging. The reduction in packaging volume is expected to lessen the amount of shipping and fossil fuel consumption needed to transport the company's products to retailers and consumers. The packaging improvements are expected to also reduce the primary package weight by more than 20 per cent and be comprised of 25 per cent recycled materials.
In December 2018, FIGR commissioned a consumer study of Atlantic Canadian residents that revealed 58 per cent of respondents are concerned with the amount of packaging used to distribute and sell cannabis. Since cannabis was legalized in Canada, sustainability has been an important point of discussion at FIGR.
"The consumer insights from our study showed us that 61 per cent of Atlantic Canadians surveyed are concerned about the recyclability and sustainability of cannabis packaging," said Todd Duncan, Vice President Supply Chain, FIGR, Inc. "As FIGR grows, we continue to look for ways to optimize our operations. Working to make our packaging more environmentally friendly is a core responsibility and mindset."
Jupiter’s proprietary inhalation technology continues rapid growth with the integration of Baker and Blackbird software and services
CAMBRIDGE, Mass.--(BUSINESS WIRE)--TILT Holdings Inc. (“TILT” or the “Company”) (“TILT”) (CSE: TILT) (OTCQB: SVVTF), a leading provider of products and services to businesses operating in the cannabis industry, today announced that Jupiter Research, LLC (“Jupiter”), a leader in inhalation and vaporization technology and wholly owned subsidiary of TILT, has further expanded distribution of its proprietary, high-performance technologies in California through its integration with TILT’s software and supply chain services. The expansion allows Jupiter to establish a physical presence with increased geographic reach throughout California, enabling TILT to develop stronger customer relationships and deliver Jupiter products to B2B customers more quickly than ever before.
TILT acquired Jupiter in early 2019 to further expand its technology ecosystem and B2B reach across the supply chain. Through this acquisition, Jupiter has accelerated its growth with additional distribution opportunities leveraging TILT’s software, logistics and supply chain services provided by Blackbird Logistics (“Blackbird”) and Baker Technologies, Inc. (“Baker”). The integration of TILT’s operations and software solutions, combined with its robust distribution services allows Jupiter to provide support to its more than 640 customers in California with just-in-time inventory fulfillment and services.
“At TILT our vision is to help cannabis businesses better serve their customers and patients by providing them the tools to communicate, operate, and scale with a greater degree of efficiency,” said Alex Coleman, Chief Executive Officer of TILT Holdings. “Through Jupiter’s expansion with Blackbird and Baker, Jupiter customers benefit from partnered solutions and shared expertise pivotal for success in the global cannabis economy. The continued integration of our businesses is driving cross-selling opportunities that deliver more value to our customers and increased revenue opportunities for TILT.”