Weedstocks Newswire Feed
CROP Working 'Rapidly' To Vertically Integrate California Production, Extraction, Distribution And Retail
VANCOUVER, Nov. 7, 2018 /CNW/ - CROP INFRASTRUCTURE CORP. (CSE: CROP) (OTC: CRXPF) (Frankfurt: 2FR) announced today that it is working towards complete vertical integration in California. Processing continues at Humboldt Farm and new automation equipment has arrived to increase efficiencies and continually increase return on investment (ROI) of finished inventory.
Additionally, CROP's Emerald Heights retail brand has just completed the stage three interview process with the City of San Bernardino which is a major hurdle before the final licensing review to open its first California retail location. CROP is currently going through the process of opening two Emerald Heights locations in Italy, one in Nevada and one at the aforementioned location in California.
The company's tenant is currently accepting and reviewing bids from distributors to represent the company's production under its Hempire, Evolution and White Rhino brands. The tenant has also applied for its own distribution license to represent its own production and the production of other complimentary producers in the region which will result in another license in the growing portfolio of tenant licensees.
CROP has also been notified that the tenants are preparing an extraction license application for Humboldt Farm which will maximize the ROI and broaden the range of Stock Keeping Units ('SKUs') available to retail locations.
CROP has submitted its building plans to the Humboldt County Building and Planning Department to increase the production of the California facility at a cost of $1,000,000 of which $250,000 has already been spent. The increased production will result in an additional ~12,000 pounds of high-quality cannabis and 3,000 pounds of secondary material per year.
Five-Year licence allows importation, processing, wholesale distribution and re-export of a range of CBD extracts, concentrates and finished products
VANCOUVER, Nov. 6, 2018 /CNW/ - C21 Investments Inc. (CSE: CXXI) (FSE: C6QP) today announced that it has been granted the first licence issued by the State Service of Ukraine on Medicines and Drugs Control ("SSUMDC") for the importation of high-quality raw CBD extracts and concentrates, to import finished CBD products, to conduct CBD processing, wholesale distribution of CBD and CBD finished products, and to re-export CBD concentrates and CBD processed products to Europe and internationally.
According to Robert Cheney, C21 Investments' Chief Executive Officer, the granting of this first Ukraine CBD licence issued by SSUMDC is a testament to the quality of C21's products, its quality control systems, and its internal compliance processes as well as the high regard of the Ukrainian Government for the integrity of the C21 management team.
"We at C21 are excited to receive the first licence issued in the Ukraine and to expand into Europe," said Mr. Cheney. "This is a significant opportunity for us to build a new industry, create new high-quality jobs and to leverage the competitive advantages of Ukraine to access the EU and global markets. Building on a solid relationship with the Ukrainian Government and the staff of SSUMDC, the C21 team is in the process of applying for additional licences, including for the cultivation of both hemp and cannabis.
Ukraine has a population of over 42 million people and is a major trading partner with the European Union. In 2014, Ukraine signed an agreement referred to as the "Association Agreement" making trade with the EU much easier. Trade with the EU has increased significantly as a result. Ukraine offers a long history in agriculture, a skilled labour pool, attractive wage rates, and preferential access to European markets.
VANCOUVER, British Columbia, Nov. 06, 2018 (GLOBE NEWSWIRE) -- ICC Labs Inc. (the Company or ICC) (TSX-V: ICC) is pleased to announce that, at the special meeting of shareholders of ICC (ICC Shareholders) held today (the Meeting), ICC Shareholders overwhelmingly voted in favour of a special resolution (the Arrangement Resolution) to approve the previously announced plan of arrangement (the Arrangement) between ICC and Aurora Cannabis Inc. (Aurora) (TSX: ACB, NYSE: ACB). Subject to the terms and conditions of an arrangement agreement (the Arrangement Agreement) between ICC and Aurora dated September 8, 2018, Aurora will acquire all of the issued and outstanding common shares of ICC (ICC Shares). Obtaining approval from ICC Shareholders is one of the conditions to completing the Arrangement.
The Arrangement Resolution required approval by at least two-thirds of the votes cast by ICC Shareholders present in person or represented by proxy at the Meeting. The Arrangement Resolution was approved by approximately 98.74% of the votes cast by all of the ICC Shareholders eligible to vote at the Meeting.
It is expected that ICC will apply for a final order of the Supreme Court of British Columbia on November 8, 2018. Completion of the Arrangement remains subject to other customary closing conditions, including the aforementioned court order and the receipt of certain Uruguayan regulatory approvals. Assuming that the conditions to closing are satisfied or waived, it is expected that the Arrangement will be completed in the fourth quarter of 2018. Further information about the Arrangement is set forth in the materials prepared by ICC in respect of the Meeting which were mailed to shareholders of ICC and filed under ICC’s profile on SEDAR at www.sedar.com.
ICC is a fully licensed producer and distributor of medicinal cannabinoid extracts, recreational cannabis and industrial hemp products in Uruguay as well as a fully licensed producer of medicinal cannabis in Colombia. The Company has active operations in Uruguay, and is focused on becoming the worldwide leading producer of cannabinoid extracts, giving support and promoting responsible use for medicinal purposes, backed by scientific research and innovation, while following strict compliance with standards for quality and safety.
TORONTO, Nov. 06, 2018 (GLOBE NEWSWIRE) -- Nutritional High International Inc. (“Nutritional High” or the “Company”) (CSE: EAT, OTCQB: SPLIF, FRANKFURT: 2NU) is pleased to announce that it has completed a sale and leaseback financing of certain equipment located at its FLI NorCal facility, located in Sacramento, California, and has leased other equipment to be delivered in short order (altogether, the “Equipment”) for gross proceeds of $741,127 USD. The sale and leaseback financing was provided by the Veterans Capital Corp. and ASC Lease Income, LLC (collectively, the “Buyer”).
Pursuant to the agreement with the Buyer, the Company will utilize the Equipment to process a wide and expanding range of products under its FLÏ™ brand including Vape Pens, Syringes, Dab Jars and Mini Mints. Nutritional High distributes these products in the California market through the Company’s wholly owned Calyx Brands distributor. In addition, the Company expects to launch its FLÏ™ Chocolate Bars production in three weeks upon the delivery of new equipment.
Located in the city of Sacramento, California, the FLI NorCal facility totals 17,500 square feet of manufacturing space permitted for the manufacture of cannabis extracts and infused products. With the goal to rapidly increase market share in the western US, particularly in California, the Company is in negotiations with various popular brands that would help strengthen Nutritional High’s position in California and continues to push its vision of being an industry leader in cannabis infused edibles and oils. About Nutritional High International Inc.
Nutritional High is focused on developing, manufacturing and distributing products under recognized brands in the cannabis products industry, with a specific focus on edibles and oil extracts for medical and adult recreational use. The Company works exclusively with licensed facilities in jurisdictions where such activity is permitted and regulated by state law.
The Company follows a vertically integrated model with a fully developed strategy for acquisitions in extraction, production, sales, and distribution sectors of the cannabis industry. Nutritional High has brought its flagship FLÏ™ edibles and extracts product line from production to market through its wholly owned subsidiaries in California and Oregon, as well as Colorado where its FLÏ™ products are manufactured by a third-party licensed producer. In California, the Company distributes its products and products manufactured by other leading producers through its wholly owned distributor Calyx Brands Inc. and is entering the Nevada, Washington State and Canadian markets in the near future.
NewBridge Global Ventures Subsidiary, The Bay Clonery Project, Developing Industrial Scale Tissue Culture Production Process for Cannabis
Alameda, California, Nov. 06, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- NewBridge Global Ventures, Inc. (“NewBridge” or the “Company”), (OTCQB: NBGV), a company focused on the emerging and dynamic legal and regulated cannabis industry, today announced that its subsidiary, The Bay Clonery LLC, is developing an industrial scale tissue culture production process for cannabis that is expected to be operational during the first quarter of 2019.
In agriculture, tissue culture has been around for years to rid plants of disease and ensure consistency, however it’s relatively new to the cannabis and industrial hemp industry. The Bay Clonery Project has developed an industrial scale tissue culture production process for cannabis, with standardizations for plants grown in accordance with a set of practices (SOP’s), which frees them of pathogens and pesticides and saves farmers wasted money caused by diseased plants.
The Bay Clonery is building out a 5,000 square foot warehouse at Company owned facilities inside a 45,000 square foot compound in Santa Rosa California, that also has 16 clean rooms totaling over 15,000 square feet for housing clones when permitted.
The proven advantages of producing clean and disease-free plants from tissue culture, The Bay Clonery Tissue Culture Lab will cultivate mature plants with chosen and desirable characteristics such as THC and CBD content, terpene profiles, and other strain specific traits. Tissue culture creates the possibility for product uniformity and standardization within the cannabis industry.
The Bay Clonery Tissue Culture Lab is committed to preserving desirable genetics and proprietary cannabis and hemp strains by collaborating with breeders and seed banks to archive a library which will not only allow the purpose of testing and cross-breeding but also isolating compounds that can and should be used as medicine. Overall, tissue culture science will optimize production capability, preserve genetics and reduce the pathogen risks associate with traditional cannabis operations.
REPEAT - Wayland Group Enters into Agreement to Expand Global Footprint with Acquisition in Colombia
TORONTO, Nov. 06, 2018 (GLOBE NEWSWIRE) -- Wayland Group (CSE:WAYL) (FRANKFURT: 75M) (OTCQB:MRRCF) (“Wayland” or the “Company) is pleased to announce that the Company has entered the South American market through a transaction in Colombia. Wayland has entered into a definitive agreement to acquire 100% of the outstanding shares of Colma Pharmaceutical SAS (“Colma”), a licenced producer of THC cannabis in Colombia, holding four licences for cultivation and processing on a leased premise in Ibague, Colombia. Under the terms of the agreement, Wayland will issue 11 million common shares as consideration for the shares of Colma with shares being issued at a deemed price of CAD$2.00 per share.
It is anticipated that following the completion of the acquisition that Wayland will cultivate THC cannabis outdoor and year-round with an infrastructure investment including 415,000 sq. ft. (38,554 sq. m) of processing and clone and vegetation greenhouse facilities to support outdoor cannabis flower production of 125 hectares. It is expected that a minimum of two full harvests will be achieved per year operating in an ideal climate. The current plan is for initial crude extraction to be completed in Colombia and exported for further distillation in Wayland’s global Active Pharmaceutical Ingredient (API) facilities in Germany. This will provide the Company with a platform to create a complete range of isolates of cannabinoids adding a sustainable supply for extraction and further distillation of cannabinoids. Wayland is certified under EU-GMP production standards for processing in Canada and expects to achieve the same status in its German operations, adding Good Agriculture and Collection Practice (GACP) standards in all international cultivation operations.
“Our move to outdoor cultivation in Colombia is the first step in creating a reliable and consistent mass supply of cannabinoid isolates for the global market, including THC and CBD, and importantly commercial quantities of lesser known CBG and CBN. We will be establishing a robust outdoor flowering operation as a source of products to be manufactured for global distribution from Ebersbach, Germany. We continue to move aggressively in the international market, creating a global presence, built on a rational business platform of geographic cost centers,” stated Ben Ward, CEO.
Maricann Group Inc., through its subsidiaries, is operating under the Wayland Group name. For further details see the press release dated September 24, 2018.
About Wayland Group
KITCHENER, Ontario, Nov. 06, 2018 (GLOBE NEWSWIRE) -- James E. Wagner Cultivation Corporation (“JWC” or the “Company”) (TSX VENTURE: JWCA), is pleased to announce it has entered into an investment agreement (the “Agreement”) with Alumina Partners (Ontario) Ltd. (“Alumina Partners”) dated November 6, 2018, for a draw-down equity facility of up to CDN$18,000,000 (eighteen million dollars). The Agreement will provide funding for the ongoing development of JWC’s second site facility.
Pursuant to the Agreement, JWC will sell, on a private placement basis completed in tranches (each, a “Tranche”), units of the Company (each a “Unit”) with a total value of up to CDN$2,000,000 (two million dollars) per Tranche, over a twenty-four (24) month period. Each Unit shall be comprised of one (1) common share (“Common Share”) and one (1) warrant (“Warrant”) in the capital of the Company. The purchase price of the Units will be agreed upon by the parties at the time of drawing down each Tranche, however, Alumina Partners will be eligible to purchase each Unit at a discount of the market price of the Common Shares traded on the facilities of the TSX Venture Exchange (the “Exchange”), as dictated by the policies of the Exchange governing the discount of private placements. The exercise price of the Warrants will be set at a 50% premium of the market price of the Common Shares as determined in the applicable Tranche. Each Warrant shall permit Alumina Partners to acquire one (1) Common Share for five (5) years from the date of issuance.
The purpose of this Agreement is to provide a potential source of funding for completion of the ongoing extensive construction and renovation work at the Company’s second production facility (“JWC2”) in Kitchener, Ontario. When completed, JWC2 will provide 345,000 square feet of indoor space for the cultivation of cannabis. “JWC is excited to have this source of funding available to ensure completion of JWC2 in as speedy a manner as is possible, allowing us to smoothly scale production despite a volatile capital market,” said Nathan Woodworth, President and Chief Executive Officer of JWC. This Agreement has been structured to best suit JWC’s plans for a smooth path to scale at the JWC2 site. Pursuant to the Agreement, JWC may draw down funds on an ‘as and when needed’ basis, thereby allowing JWC to continue on an upward production trajectory, and to have access to capital as may be deemed necessary by the board of directors of the Company.
“We are pleased to support JWC as they prepare to bring some of the absolute finest state of the art aeroponic growing capacity online in Ontario,” added Adi Nahmani, Managing Member of Alumina Partners. “As the industry continues to expand and evolve, superior expertise and quality in cultivation has trumped mass quantity at every turn and by every metric including net margins. We believe that JWC's substantial operational experience and talent pool will allow them to attain the best possible results at the new facility.”
About James E. Wagner Cultivation Corporation
The Proposed Transaction is expected to provide Tetra:
ORLEANS, Ontario, Nov. 06, 2018 (GLOBE NEWSWIRE) -- Tetra Bio-Pharma Inc., ("Tetra" or the "Company"), a leader in cannabinoid-based drug discovery and development (TSX VENTURE: TBP) (OTCQB: TBPMF), today announced it has entered into a non-binding proposal (the "Proposal") with the shareholders (the "Vendors") of Panag Pharma Inc. ("Panag") for the acquisition by Tetra of all of the issued and outstanding shares in the capital of Panag (the "Proposed Transaction"). Panag is a Canadian-based life sciences company focused on the development of novel cannabinoid-based formulations for the treatment of pain and inflammation. Panag has developed innovative and patented formulations for the treatment of ocular diseases and other pain conditions such as general neuropathic pain. Their significant formulation expertise in the wellness market will allow Tetra to expand its commercial operations.
Dr. Guy Chamberland, CEO and CSO of Tetra stated, “We are very pleased to announce this news to our shareholders. We have been working with Panag for over a year and as a combined entity we will have a robust product pipeline of cannabinoid derived drugs for development as prescription or OTC drugs. Tetra is not just acquiring assets and intellectual property, we are joining a group of world-renowned cannabinoid experts that will help take Tetra to the next level as a pharmaceutical company.”
Panag will remain a separate subsidiary owned 100% by Tetra and will provide Tetra with additional discovery and early phase drug development capacity. With this robust product pipeline, Tetra intends to continue to implement its out-licensing program to generate additional revenues via upfront payments, milestone payments, and royalties and actively pursue the clinical development of lead products.
“Panag will bring Tetra Natural Health a unique pipeline of products, thereby strengthening our role as a key player in the cannabinoid wellness market,” said Richard Giguere, CEO of Tetra Natural Health. “We look forward to working with Panag to commercialize these products globally and expect to generate revenues from these products by Q4 2019 following completion of the acquisition.”
MOODTM Product Line to be Featured in Cannvas Marché and Cannvas Kiosks
TORONTO, Nov. 6, 2018 /CNW/ - Cannvas MedTech Inc. ("Cannvas" or the "Company") (CSE: MTEC)(Frankfurt: 3CM), a leader in digital cannabis education and leading business technology company, is pleased to announce it has executed an agreement with MOODTM, a premium-focused cannabis storage brand, to join the recently announced Cannvas Marché, a network of high-tech learning and fulfillment centres across Canada. The revenue sharing agreement calls for the MOODTM product line to be integrated into the Cannvas Kiosk platform and featured in Cannvas Marché locations on digital marketing screens with fulfillment opportunities.
"I am very impressed by the Cannvas Marché and Cannvas Kiosk concept and believe that it is a great way to introduce our premium storage solutions and cannabis accessories to cannabis consumers online and in key physical locations in major cities across Canada," said Ken Tran, Founder and CEO of MOOD™. "We offer a premium brand of products designed to enhance the consumer experience with cannabis. MOODTM fits well with Cannvas brand and we are looking forward to getting started in the new year."
"I am very pleased to add MOODTM to the growing roster of the Cannvas Marché and Cannvas Kiosk partners," said Steve Loutskou, Chief Operating Officer, Global Markets, Cannvas MedTech Inc. "We have been getting a great response since announcing both Cannvas Marché and Cannvas Kiosk from partners and consumers. People recognize the value of education with respect to cannabis, but also are looking for quality products and services. MOODTM has a growing list of high quality cannabis accessories and are a great addition to both Cannvas Marché and Cannvas Kiosk concepts."
MOOD™ is an online boutique offering both functional and well-designed storage products to ensure cannabis stays fresh and stale-free longer. It is focused on elevating the overall experience and enjoyment for cannabis consumers all across Canada and is expanding its product line to include accessories related to cannabis.
VANCOUVER, British Columbia, Nov. 06, 2018 (GLOBE NEWSWIRE) -- CROP INFRASTRUCTURE CORP. (CSE: CROP) (OTC: CRXPF) (Frankfurt: 2FR) announces an update on its 1,865-acre hemp-CBD farm.
CROP’s tenant has now completed the harvest of 240 acres of CBD hemp. Samples have been sent out for independent testing to determine CBD concentrations and for a Certificate of Analysis (‘COA’). Once the COA has been received, the CBD will be shipped to the company’s partner toll processor to produce CBD isolate, as announced October 10, 2018. The company has also completed site testing at the entire Hemp-CBD project and soil is ready for 2019 planting. The company is developing lines of CBD capsule and tinctures to maximize its returns from its CBD production. The hemp & CBD isolate, and related products will be sold under the company’s Hempire and Tiff CBD brands and utilized for the Canna Drink beverage line.
Furthermore, the company’s tenant is now accepting inquiries for bulk orders of CBD isolate from the 2018 production.
About CROP Crop Infrastructure Corp. is publicly listed on the Canadian Securities Exchange and trades under the symbol “CROP” and in the US under the symbol “CRXPF”. CROP is primarily engaged in the business of investing, constructing, owning and leasing greenhouse projects as part of the provision of turnkey real estate solutions for lease-to-licensed cannabis producers and processors offering best-in-class operations. The Company’s portfolio of projects includes cultivation properties in California, two in Washington State, a 1,000-acre Nevada Cannabis farm, an 1,865 acre CBD farm, extraction in Nevada with international focuses in Jamaica and Italy and a joint venture on West Hollywood and San Bernardino dispensary applications.
CROP has developed a portfolio of assets including Canna Drink, a cannabis infused functional beverage, US and Italian distribution rights to over 55 cannabis topical products and a portfolio of 16 Cannabis brands.