Weedstocks Newswire Feed
Company to Acquire Established Cultivator in State Where Medical Cannabis Sales Estimated to Hit $2.5 Billion1
Also to own Florida-Based Multi-Specialty Medical Organization which Currently Employs Over 30 Full-Time or Managed Physicians and Services over 50,000 Patients with Rapidly Expanding Footprint
TORONTO, July 30, 2018 (GLOBE NEWSWIRE) -- Scythian Biosciences Corp. (to be renamed Sol Global Investments Corp.) (the "Company" or “Scythian”) (TSXV:SCYB) (Frankfurt:9SB) (OTC – Nasdaq Intl:SCCYF) today announced it has signed an arm’s length letter of intent effective July 26, 2018 to acquire CannCure Investments Inc. (“CannCure”). CannCure is an Ontario corporation in the process of acquiring an interest in a complementary Florida-based, multi-specialty primary care/ health and wellness medical organization (“Healthcare Organization”) and 3 Boys Farms, LLC. (“3 Boys Farms”), an established Florida agricultural company with innovative, state-of-the-art facilities and a license to operate as a Medical Marijuana Treatment Center in Florida under Florida Statutes 381.986. The closing of the Company’s acquisition of CannCure (the “Acquisition”) will be subject to the receipt of all required governmental approvals, including any approvals mandated by the Florida Department of Health and/or the Office of Medical Marijuana Use and the completion of CannCure’s acquisitions of the Healthcare Organization and 3 Boys Farms. Closing of the Acquisition is expected to occur on or about October 15, 2018.
3 Boys Farms is a Florida limited liability company incorporated in May 1981. With authorization to cultivate, process and dispense medical cannabis in accordance with Florida law, 3 Boys Farms’ operation consists of 40,000 square feet of fully-operational greenhouses located on an eight-acre parcel of land. The existing facilities include a two-acre odor mitigation space that is run 100% with harvested rainwater, solar pumps and repurposed high-volume chilled air from the cultivation greenhouses – a true zero-carbon-footprint. 3 Boys Farms innovations, including alternative energy use, greenhouse cooling designs and rainwater harvesting, were recognized and honoured by the Governor’s Environmental Leadership Award.
3 Boys Farms has a strong leadership team in place to complement Scythian’s U.S. operations team. The 3 Boys Farms’ team is anchored by founder Robert Tornello, a renowned U.S.D.A-certified organic fruit and vegetable grower who is also well-established in the medical cannabis marketplace; Chief Scientific Officer Dr. Greg Gerdeman, PhD, who is an expert in cannabinoid research and a frequent keynote speaker at conferences on the subject of medical cannabis; and Medical Director Dr. Juan Sanchez-Ramos, MD, PHD, a nationally-recognized neurologist and professor at the University of South Florida, among others.
Not for dissemination or distribution in the United States or through U.S. newswire services.
TORONTO, July 30, 2018 (GLOBE NEWSWIRE) -- Maricann Group Inc. (CSE:MARI) (FRANKFURT:75M) (OTCQB:MRRCF) (Maricann or the “Company”) announced today that it has amended the terms of its previously disclosed private placement (See press release dated July 18, 2018). The Company proposes to issue up to $30,000,000 of special warrants ("Special Warrants") at a price of $1.60 per Special Warrant (the "Offering"). Canaccord Genuity Corp. and GMP Securities L.P., will act as joint bookrunners and co-lead agents (collectively, the “Agents”) on a marketed, “best efforts” private placement basis.
Each Special Warrant shall be automatically exercisable (without payment of any further consideration) into units of the Company (the “Units”) on the date that is the earlier of: (i) the date that is three business days following the date on which the Corporation obtains a receipt from the applicable securities regulatory authorities in the Province of Ontario and each of the jurisdictions in Canada in which the Special Warrants are sold (collectively, the “Securities Commissions”) for a (final) prospectus qualifying the distribution of the Units issuable upon exercise of the Special Warrants (the “Qualification Prospectus”) and (ii) the date that is four months and one day after the Closing Date (as hereinafter defined), subject to adjustment in certain events. In the event the Company has not received a receipt from the Securities Commissions for the Qualifying Prospectus before October 4, 2018, each unexercised Special Warrant will thereafter entitle the holder to receive upon the exercise thereof, at no additional consideration, 1.05 Units (instead of one Unit).
Each Unit will consist of one common share (a “Common Share”) and one common share purchase warrant of the Company (a “Warrant”). Each Warrant will be exercisable to acquire one common share of the Company (a “Warrant Share”) for a period of two years following the Closing Date (as hereinafter defined) of the Offering at an exercise price of $1.75 per share, subject to adjustment in certain events. Beginning on the date that is four months plus one day following the Closing Date, the Corporation may accelerate the expiry date of the Warrants on not less than 20 days’ notice should the daily volume weighted average trading price of the Common Shares on the Canadian Securities Exchange (the “CSE”) be greater than $2.00 for any 10 consecutive trading days.
The net proceeds from the Offering will be used for working capital and general corporate purposes.
MONTREAL, July 30, 2018 (GLOBE NEWSWIRE) -- Relevium Technologies Inc. (TSX.V:RLV) (OTCQB:RLLVF) and (Frankfurt:6BX) (the “Company” or “Relevium”), is pleased to announce it has received final listing approval for its Bioganix® Gold Series Nutraceuticals on Walmart.com and the products are currently live and available for purchase.
Relevium received today the final product listing approvals by the quality control team at Walmart.com and has begun selling its Bioganix® Gold Series nutraceutical products. As initially announced on May 3, 2018 the Company had received brand approval from Walmart.com to sell in its marketplace and today the Company received final approval for its initial product listing, which are currently live and available for purchase in the United States.
Bioganix® Gold Series is a unique and exclusive line of nutraceutical supplements designed exclusively for discerning health and wellness Walmart.com shoppers. The Company has launched an initial four (4) SKUs comprised of exclusive formulations from some of the highest volume sellers in the Bioganix® product line. The company’s Bioganix Gold Series products includes; Apple Cider Vinegar Capsules, BioPro Advanced Probiotic, Garcinia Cambogia and Pure Forskolin.
Aurelio Useche, CEO of Relevium stated: “The BioGanix® Gold Series is an exclusive Walmart.com line of nutraceuticals and supplements that gives the Company access to a new consumer base” Mr. Useche continued: “Our expectations for the new brand and the Walmart.com channel are high and we believe we will be able to scale the business and expand our available SKUs considerably faster than through our traditional distribution channels”
Abis Hussain, CMO of Relevium, stated: “In the coming months we will establish a working relationship with Walmart as we market our initial batch of products. Depending on demand, available traffic, conversion rates and ultimately profit margins, we will quickly move to launching additional exclusive products to Walmart.com through our Bioganix® Gold Series Nutraceutical brand”
TORONTO, July 30, 2018 (GLOBE NEWSWIRE) -- Nutritional High International Inc. (the "Company" or "Nutritional High") (CSE:EAT) (OTCQB:SPLIF) (FRANKFURT:2NU) has officially launched an innovative cannabis awareness program named FLÏ™ Safe. The FLÏ™ Safe program focuses on promoting responsible cannabis consumption and cannabis education via sourced research, specifically targeting cannabis advocates.
Currently, the FLÏ™ Safe website is live at www.flisafe.org. In the coming weeks, FLÏ™ will be rolling out content on FLÏ™ social media channels regarding this initiative and will begin coordinating FLÏ™ Safe activities.
FLÏ™ Safe is one of the first-of-its-kind programs in the cannabis industry, driven by both online and offline activities. Nutritional High and the FLÏ™ team believe that programs like FLÏ™ Safe are needed in the current climate of legalization, misinformation, and to rewrite the common cannabis user stereotype.
Jim Frazier, the CEO of Nutritional High, commented, “Today, more than ever, it is important for a brand to not only create great products but create a platform that help educate consumers and have fundamental impacts on supporting the sales, marketing, and the vision we have for Nutritional High. Corporate responsibility is going to be an integral part behind federal legalization and it benefits not only our brand but also the industry in general to create this kind of well-researched awareness.”
Nutritional High is taking a leadership role in consumer education and we see this as being one of the most critical pieces in building the future of the industry.
REMINDER: Nutritional High Closes Acquisition of Pasa Verde Labs & Sacramento Property, Bolstering Its Position in the California Recreational Market
TORONTO, July 30, 2018 (GLOBE NEWSWIRE) -- Nutritional High International Inc. (the "Company" or "Nutritional High") (CSE: EAT, OTCQB: SPLIF, FRANKFURT:2NU) is pleased to announce the closing of its previously announced acquisition of 100% of California-based Pasa Verde, LLC (“Pasa Verde”) (see press releases dated April 23 and July 9, 2018). Pasa Verde was founded in 2017 and operates a leading cannabis extraction and toll processing facility in Sacramento, California.
In addition, Nutritional High is pleased to announce that it has closed on its previously announced purchase of a separate 9,000 square foot facility in Sacramento, California (“Sacramento Property”) (see press release dated April 3rd, 2018).
Closing of Pasa Verde Acquisition
The Pasa Verde facility is presently operating under temporary State and local authorizations. Under the membership interest purchase agreement (the “Agreement”), the Company paid the following to the Pasa Verde vendor:
Pursuant to the terms of the Agreement, the Company has also agreed to fund up to USD$456,000, subject to adjustment, of capital expenditures to support Pasa Verde’s growth in California and to fund increased production capacity, inventory as well as expanded marketing and branding initiatives and for new product development.
TORONTO, July 30, 2018 (GLOBE NEWSWIRE) -- Quinsam Capital Corporation (“Quinsam” or the “Company”) (CSE:QCA) is pleased to announce the that it intends to proceed with a normal course issuer bid to purchase up to 5,928,951 of its common shares (the “Bid”). The Company is commencing the Bid because it believes that the current market price of its common shares may not fully reflect the underlying value of the Company’s business and future prospects. The Company believes that the repurchase of its common shares for cancellation is in the best interests of its shareholders because the Bid will increase the respective proportionate shareholdings and equity interests of all remaining shareholders.
The Company has 118,579,029 common shares issued and outstanding. Under the terms of the Bid, the Company may acquire up to 5,928,951 of its common shares, representing 5% of its issued and outstanding common shares.
The Company will commence the Bid on August 6, 2018. The Bid will terminate on August 6, 2019, or on an earlier date in the event that the number of common shares sought in the Bid has been repurchased. The Company reserves the right to terminate the Bid earlier if it feels that it is appropriate to do so. All common shares will be purchased on the open market through the facilities of the Canadian Securities Exchange (“CSE”), and payment for the common shares will be made in accordance with CSE policies. The price paid for the common shares will be the prevailing market price at the time of purchase. Purchases may be suspended at any time, and no purchases will be made other than by means of open market transactions during the term of the Bid. The Company has engaged M Partners to act as the broker through which the Bid will be conducted.
About Quinsam Capital Corporation
Quinsam is a merchant bank based in Canada that is focusing on cannabis-related investments. Our merchant banking business may encompass a range of activities including acquisitions, advisory services, lending activities and portfolio investments. Quinsam invests its capital for its own account in assets, companies or projects which we believe are undervalued and where we see a viable plan for unlocking such value. We do not invest on behalf of any third party and we do not offer investment advice.
Simplified Trading, Enhanced Liquidity and Added-Value for USA Investors
VANCOUVER, July 30, 2018 /CNW/ - Phivida Holdings Inc. ("Phivida" or the "Company") (CSE: VIDA; OTCQX: PHVAF) is pleased to announce the approval of The Company's Form 211 by FINRA, and the approval to graduate on to the OCTQX Best Market as a foreign issuer, with full DTC eligibility now in process. The Company's common shares are scheduled to commence trading on the OTCQX under the symbol "PHVAF" effective July 30th, 2018.
Graduation to the OTCQX Best Market provides added service, value and convenience to USA investors, brokers and institutions seeking to trade "PHVAF" while DTC eligibility simplifies and accelerates the settlement process of daily trades. The OTCQX Best Market is OTC Markets Group's premier market for established, investor-focused U.S. and international companies. To be eligible, companies must meet high financial standards, follow best practice corporate governance, demonstrate compliance with U.S. securities laws, be current in their disclosure, and have a professional third-party sponsor introduction.
Phivida shares are in process of Depository Trust Company (DTC) eligibility. DTC manages electronic clearing and settlement of publicly traded companies across the United States and in 131 other countries. Trading through DTC allows for cost-effective clearing and guaranteed settlement, simplifying and accelerating the settlement process. In the USA, DTC settles 1.4 million transactions daily, valued at approximately USD $600 billion.
Glendale Securities facilitated the quotation of Phivida's common shares on the OTCQX Best Market and will provide market making services to act as a catalyst to enhance transparency and overall visibility for USA investors. Phivida was sponsored for the OTCQX by Burns Figa & Will PC, a qualified third-party firm responsible for providing guidance on OTCQX requirements and recommending membership.
TORONTO, July 30, 2018 /CNW/ - Pure Global Cannabis Inc. (TSXV: PURE) (OTC: PRCNF) (the "Company" or "PURE" or "Pure Global"), a growth-oriented life sciences cannabis company, is pleased to announce the appointment of Mr. Michael Lavergne as Head of Global Supply Chain Services. Mr. Lavergne will be responsible for the effective planning and implementation of logistics, inventory, procurement and supply chain systems across Pure Global's varying operating units.
Michael brings over twenty years of hands-on, consumer goods expertise to the Pure Global family. Mr. Lavergne has held senior positions for some of the world's leading retail, risk management and consumer packaged goods (CPG) organization including Shoppers Drug Mart, where he was VP Global Sourcing. Michael also worked at Sara Lee Corp, Bureau Veritas in Hong Kong, Wal-Mart/PREL in Mexico, Joe Fresh International and World Vision Canada. Michael's expertise in entrepreneurial supply chain, sustainability, risk management, and ''Go-to-Market' strategies will ensure PURE has a leading presence across multiple geographies, retail platforms and product categories.
"We're excited to add yet another stellar member to the leadership team with strong, hands-on experience in servicing consumer goods markets here in Canada and internationally," said Pure Global President & CEO Malay Panchal. "We will look to continue to add high calibre talent to our team and build our bench strength in the weeks ahead."
About Pure Global Cannabis
Pure Global Cannabis Inc. (TSXV: PURE) (OTC: PRCNF) is a vertically integrated growth-oriented life sciences cannabis company led by experienced pharma-industry, horticultural, and supply chain experts. The Company's wholly-owned subsidiary, PureSinse, is a licensed producer under the Access to Cannabis for Medical Purposes Regulations ("ACMPR") focused on producing premium-quality cannabis products for medical, wellness, and future legal adult recreational use. The Company is launching Canada's first multi-ponic cannabis farm – a patent-pending system that is expected to produce several fold greater yields over traditional methods while reducing cost and eliminating pesticide and herbicide use.
New Authorization Will Facilitate Domestic and International Transport, Enhancing Global Distribution
EDMONTON, July 30, 2018 /CNW/ - Aurora Cannabis Inc. ("Aurora" or the "Company") (TSX: ACB) (OTCQB: ACBFF) (Frankfurt: 21P; WKN: A1C4WM) today announced that it has obtained a Health Canada Dealer's License ("Dealer's License") under the Controlled Drugs and Substances Act for its EU GMP certified Aurora Mountain facility in Alberta. The new license will allow Aurora additional opportunities to produce, assemble, and sell cannabis oils and future novel, derivative products from Aurora Mountain, Furthermore, the license provides additional opportunities to transport cannabis products for import from and export to international markets, subject to applicable regulations.
"Aurora Mountain is our third facility to be granted a Dealer's License by Health Canada, and this milestone is fundamental to bolstering our supply chain across Canada and around the world," said Terry Booth, CEO of Aurora. "Being able to more freely transport and export cannabis oils, derivatives and concentrates allows us to develop new products that respond to market demand in a variety of regulatory frameworks in different countries."
A dealer's license is also critical for expanding research and development capacity as it provides the potential for working with cannabinoids and their derivatives not covered under an ACMPR license. This will enable Aurora and its subsidiaries to drive innovation in the form of marketable intellectual property, and new value-added products.
Village Farms International's Cannabis Joint Venture Pure Sunfarms Receives Sales License from Health Canada for 1.1 Million Square Foot Greenhouse
-- Pure Sunfarms' Delta 3 Greenhouse Facility Becomes One of the Largest Canadian Cannabis Growing Operations Licensed to Sell Product, With Significant Production and Sales Ramp Expected Through 2018 and Beyond --
VANCOUVER, July 30, 2018 /CNW/ - Village Farms International, Inc. ("Village Farms" or the "Company") (TSX: VFF) (OTC: VFFIF) and Emerald Health Therapeutics, Inc. (TSXV: EMH; OTCQX: EMHTF) ("Emerald") today announced that their 50/50 joint venture for large-scale, low-cost, high-quality cannabis production, Pure Sunfarms, has received its cannabis sales license from Health Canada. Pure Sunfarms is now permitted to immediately begin selling product from its expanding inventory of high-quality dried cannabis, including to Emerald Health Therapeutics, under their previously announced supply agreement, as well as to address significant demand from other licensed producers. This sales license also positions Pure Sunfarms to secure supply agreements with provincial government distributors for the imminent legal adult-use marketplace.
"Pure Sunfarms continues to achieve its milestones on or ahead of schedule, and has transformed the Delta 3 facility from growing and selling tomatoes to growing and selling cannabis in just seven months," said Michael DeGiglio, CEO, Village Farms. "Pure Sunfarms' near-term objective is to maximize the profitability of its expanding production capacity during what is expected to be an initial period of short supply when adult cannabis use becomes legal in Canada on October 17, 2018. Pure Sunfarms will become a vertically integrated supplier and, with this sales license in place, will aggressively move forward with its product development and branding strategies."
"Pure Sunfarms is moving at remarkable speed to become a significant cannabis supplier and, with our high operational quality standards, we achieved a very rapid turnaround on this license. We greatly appreciate Health Canada's timely responses to all of our submissions," said Chris Wagner, CEO, Emerald Health Therapeutics. "With access to established wholesale and provincial agreements and the prospect of similar additional agreements in the near-term, Pure Sunfarms is well prepared for a rapid sales ramp-up in the coming quarters. This will drive value for both Village Farms and Emerald, as joint venture partners."
Pure Sunfarms initiated commercial-scale cannabis production in May of this year and is currently utilizing 225,000 square feet of its 1.1-million square foot Delta 3 greenhouse facility in Delta, BC, with the expectation that the full 1.1 million square feet will be converted for cannabis production by the end of 2018, on schedule and on budget. Upon completion of the conversion, Pure Sunfarms' Delta 3 facility will be one of the single largest cannabis growing facilities in the world.