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VANCOUVER, July 10, 2018 /CNW/ - MYM Nutraceuticals Inc., (CSE: MYM) (OTC:MYMMF)(CSE: MYM.CN) (MYM.CN) ("MYM") is pleased to announce that it has entered into an Investment Agreement to acquire a 49% stake in Colombian cannabis company, Colombia Organica, that currently holds a seed to sale license for low THC cannabis. This license permits Colombia Organica to grow, produce and create cannabis derivatives to be commercialized and / or exported. Further, Colombia Organica is in the licensing process for the cultivation and production of high THC cannabis extracts.
MYM and Colombia Organica have plans to build a production facility near Medellin, Colombia for the cultivation and processing of cannabis and cannabis products. Currently, Colombia Organica is developing and registering seed strains with the Colombian Agricultural Institute.
Colombia Organica currently holds a lease for a 36-acre (14.5 hectares) property located 44 kms from Medellin in the Municipality of San Pedro de los Milagros, in the Northern Region of the Aburra Valley. The region's growing conditions are conducive for growing cannabis with an average temperature of 16-18 °C, and an elevation of 2,475 meters above sea-level. Colombia Organica has secured an option to buy the property.
"We are extremely pleased to partner with our new friends at Colombia Organica," said Rob Gietl, CEO of MYM. "With low production costs expected to be less than 20 cents per gram versus Canadian producers at $1.25 per gram or higher, ideal climate, and a large pool of skilled, low cost agricultural labour, highly developed logistic chains, and a highly supportive federal government, Colombia is anticipated to dominate global markets for cannabis production."
The International Board for the Control of Narcotics recently assigned Colombia a quota equal to 44% of global medicinal cannabis production, giving Colombia a major advantage in the global export market. MYM and Colombia Organica plan to leverage Colombia's outside quotas to export cannabis derivatives for medicinal purposes to legal markets throughout the world.
Agreement brings up to 1,000kg of Organigram's premium indoor-grown cannabis products to Tokyo Smoke, Hiku's licensed chain of cannabis stores in Manitoba
MONCTON, NB, July 10, 2018 /CNW/ - Organigram Holdings Inc. (TSX VENTURE:OGI) (OTCQB:OGRMF), the parent company of Organigram Inc. (the "Company" or "Organigram"), a leading licensed producer of medical marijuana, is pleased to announce that it has entered into a letter of intent ("LOI") with Hiku Brands Company Ltd. (CSE: HIKU) ("Hiku").
As an approved supplier to Manitoba Liquor & Lotteries ("MBLL"), Organigram will supply Hiku with up to 1,000 kg of premium cannabis products per year for the term of the three-year agreement. Products include both dried cannabis and cannabis oils, which will be sold through designated Tokyo Smoke retail locations in Manitoba.
"Organigram and Hiku share a deep commitment to exceptional quality and innovative products," says Greg Engel, CEO, Organigram. "As we move towards a legal, adult recreational use cannabis market, we are proud to be affiliated with companies and brands with a clear and demonstrated focus on their customers and a first-class customer experience."
The relationship is based on several discussions between the groups on product portfolio, strategic direction, quality and branding. A selection of brands, featuring Organigram's 2017 Canadian Cannabis Award-winning sativa Wabanaki, will be chosen to play a role in Tokyo Smoke's retail plans within the Manitoba market.
VANCOUVER, July 9, 2018 /CNW/ - INVICTUS MD STRATEGIES CORP. ("Invictus" or the "Company") (TSXV: GENE; OTC: IVITF; FRA: 8IS1) announced today the purchase of an additional acre of neighboring land adjacent to AB Laboratories Inc. ("AB Labs") property, dedicated to future expansion opportunities at the facility. The acquisition represents significant progress in AB Labs' growth strategy which involves building a strong production profile in state-of-the-art cultivation spaces.
Construction of the Phase 2 expansion at AB Labs remains on-schedule. Phase 2 facility will add 40,000 square feet of operating space, while increasing total cultivation capacity to 56,000 square feet. Currently, AB Labs' 16,000 square foot Phase 1 facility is operating at full capacity, having completed its second transfer of 63 kg of dried cannabis to Canopy Growth Corporation's (TSX: WEED) Tweed's elite CraftGrow line.
AB Labs is also focused on expanding its strain profile to meet Invictus' dynamic and muscular approach to retail sales ahead of the upcoming recreational marketplace. AB Labs' latest selection, originating from a partner in Holland, offers a mix of strains including:
"Expanding both our cultivation space and strain selection is key to driving growth in a sector that will see increasing demand from both the public and private sector," said Invictus CEO Dan Kriznic. "By constructing state-of-the-art production and processing facilities, our team of award-winning horticulturalists can continue to innovate and deliver high-quality products that consumers can trust."
LEAMINGTON, ON, July 9, 2018 /CNW/ - Aphria Inc. ("Aphria" or the "Company") (TSX: APH and US OTC: APHQF) will release its fourth quarter results for 2018 on August 1, 2018.
Financial results are expected to be released at approximately 7:00am ET, through SEDAR and on Aphria's website at www.aphria.ca/investors. A conference call will be scheduled for 9:00am ET and will feature a presentation by Aphria executives followed by a question and answer period with analysts. Details with respect to the analyst conference call with be released closer to August 1st.
We Have a Good Thing Growing.
Aphria is a leading global cannabis company driven by an unrelenting commitment to our people, product quality and innovation. Headquartered in Leamington, Ontario – the greenhouse capital of Canada – Aphria has been setting the standard for the low-cost production of safe, clean and pure pharmaceutical-grade cannabis at scale, grown in the most natural conditions possible. Focusing on untapped opportunities and backed by the latest technologies, Aphria is committed to bringing breakthrough innovation to the global cannabis market. The Company's portfolio of brands is grounded in expertly-researched consumer insights designed to meet the needs of every consumer segment. Rooted in our founders' multi-generational expertise in commercial agriculture, Aphria drives sustainable long-term shareholder value through a diversified approach to innovation, strategic partnerships and global expansion, with a presence in more than 10 countries across 5 continents.
Scythian Biosciences Corp Announces Colcanna SAS as one of the Industry’s First to Receive Key Cannabis Licences for the Cultivation, Extraction, Production and Research of Medical Cannabis for the Colombian Local Market and Export to International Market
TORONTO, July 09, 2018 (GLOBE NEWSWIRE) -- Scythian Biosciences Corp. (the "Company" or “Scythian”) (TSXV:SCYB) (Frankfurt:9SB) (OTC – Nasdaq Intl:SCCYF) is pleased to announce that Colombian-based Colcanna SAS (“Colcanna”), the pending acquisition by Scythian, has received additional licences by the Ministry of Health for the extraction, production and research for the local market and export to international markets of cannabis derivatives.
“The receipt of these licences is a significant step forward in the closure of our acquisition of Colcanna,” said CEO Rob Reid. “We look forward to focusing our efforts on providing both the domestic and international market with access to pure, high grade medical Cannabis grown in the ideal conditions of the Colombia Coffee Zone.”
Colcanna is the only cultivator to receive a licence to cultivate Cannabis in the coveted Colombian coffee zone. Scythian previously announced on April 9, 2018, that it had entered into a binding letter of intent (“LOI”) to acquire MMJ Colombia Partners Inc. (“MMJ Colombia”) (the “Acquisition”), a privately-held Ontario company that is expected to purchase 90% of Colcanna prior to the completion of the Acquisition.
Colcanna is a government-backed operation with 35 acres of arable land in Chinchina, Caldas, and Colombia. Located in a temperate climate that supports four harvests a year, the first of which is expected in late 2018, this land is ideal for year-round cultivation without artiﬁcial climate control. Currently, Colcanna is constructing over 500,000 square feet of total greenhouse production space and is planning to build its laboratory for the fabrication of cannabis extracts in a warehouse in Pereira, Colombia.
The Acquisition is subject to the execution of the definitive agreement reflecting the terms and conditions set forth in the LOI including regulatory approval of the Acquisition and that of the TSX Venture Exchange.
California Roll-out Accelerates – Nutritional High Announces Definitive Agreement to Acquire Sacramento, California, Cannabis Extraction Facility
TORONTO, July 09, 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 signed a definitive agreement for the acquisition of Pasa Verde, a commercial scale cannabis oil extraction and edible facility in Sacrament, California. Pasa Verde produces a number of extract products on a contract manufacturing basis for leading brands and will begin producing Nutritional High's FLÏ™ branded oil and edible products.
From it’s 17,600 square foot facility, Pasa Verde has experience producing, and equipment for both ethanol and CO2 extraction with abundant room for expansion. Plans have been drawn up and submitted to local authorities for an aggressive expansion of the facilities to enable the manufacture of a wide range of edible products.
“We are very pleased to welcome Tony Westfall and his team to the Nutritional High family,” said Jim Frazer CEO of Nutritional High. “We have a number of innovative products we will release in the coming months and years for Calyx to distribute. With Calyx's insight and Pasa Verde's infrastructure and management, we are well placed to ensure that FLÏ™ and other Nutritional High product will have a prominent and leading place in the California market.”
The acquisition of 100% interest in Pasa Verde is expected to close before the end of July 2018 at a purchase price of US$1.65 million, of which $900,000 is payable in Nutritional High shares. The transaction also includes an earn out of up to US$5.3 million depending on growth of the business over the next 2 years. The earn out is contingent on growth targets for 12, 18 and 24 months and is payable half in cash and half in shares on Nutritional High.
About Nutritional High International Inc.
Canopy Rivers Closes $104 Million Private Placement Offering of Subscription Receipts and Enters Definitive Agreement to Complete Qualifying Transaction
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TORONTO, July 9, 2018 /CNW/ - Canopy Rivers Corporation ("Canopy Rivers") is pleased to announce that it has completed its previously announced private placement (the "Offering") of subscription receipts (the "Subscription Receipts") for gross proceeds of $104,212,000. 28,792,000 Subscription Receipts were sold pursuant to a brokered portion of the Offering co-led by CIBC Capital Markets ("CIBC"), GMP Securities L.P. ("GMP"), as joint bookrunners and together with Eight Capital (collectively with CIBC and GMP, the "Co-Lead Agents"), on behalf of a syndicate of agents including Cormark Securities Inc., INFOR Financial Inc. and PI Financial Corp. (together with the Co-Lead Agents, the "Agents"). An additional 982,857 Subscription Receipts were sold on a non-brokered basis.
Canopy Rivers is also pleased to announce that it has entered into a definitive amalgamation agreement with AIM2 Ventures Inc. ("AIM2") and 10859150 Canada Inc., a wholly-owned subsidiary of AIM2, which outlines the terms and conditions pursuant to which the parties will complete the the proposed business combination transaction involving Canopy Rivers and AIM2 (the "Transaction"). The Transaction will result in a reverse take-over of AIM2 by Canopy Rivers and will constitute AIM2's "Qualifying Transaction" (as such term is defined in Policy 2.4 of the TSX Venture Exchange (the "TSXV")). Pursuant to the Transaction, Canopy Rivers and a wholly-owned subsidiary of AIM2 will amalgamate to form a new amalgamated company, and upon such amalgamation, holders of class B common shares of Canopy Rivers ("Canopy Rivers Subordinated Voting Shares") will receive one post-consolidation AIM2 common share (a "New AIM2 Subordinated Voting Share") for each Canopy Rivers Subordinated Voting Share held and Canopy Growth Corporation, the sole holder of the class A common shares of Canopy Rivers (the "Canopy Rivers Multiple Voting Shares"), will receive one new AIM2 multiple voting share for each Canopy Rivers Multiple Voting Share held. Other details of the Transaction are as disclosed in Canopy Rivers and AIM2's joint press release dated May 30, 2018 and in AIM2's press release dated June 18, 2018.
Pursuant to the Offering, the Company issued an aggregate of 29,774,857 Subscription Receipts at a price of $3.50 (the "Issue Price") per Subscription Receipt for gross proceeds of $104,212,000. The Subscription Receipts were issued pursuant to a subscription receipt agreement (the "Subscription Receipt Agreement") among Canopy Rivers, the Co-Lead Agents and Computershare Trust Company of Canada (the "Escrow Agent"). Upon satisfaction of certain Escrow Release Conditions (as defined below), each Subscription Receipt will be automatically converted without any further consideration or action by the holder thereof into one Canopy Rivers Subordinated Voting Share.
The gross proceeds of the Offering, less 50% of the commission payable to the Agents (the "Commission"), together with all interest and other income earned thereon (the "Escrowed Funds") are to be held in escrow by the Escrow Agent pending satisfaction of the Escrow Release Conditions. Provided that the Escrow Release Conditions are satisfied by [November 2], 2018 (the "Escrow Release Deadline"), the Escrowed Funds will be released from escrow by the Escrow Agent to: (a) the Co-Lead Agents, on behalf of the Agents, in an amount equal to 50% of the Commission, together with any pro rata interest earned thereon, and the expenses incurred by the Agents in connection with the Offering; and (b) Canopy Rivers, in an amount equal to the Escrowed Funds, less the foregoing deductions.
OAKVILLE, Ontario, July 09, 2018 (GLOBE NEWSWIRE) -- Newstrike Resources Ltd. (TSX-V:HIP) (the “Company” or “Newstrike”) announces the appointment of Peter Hwang as Chief Commercial Officer (“CCO”).
Peter Hwang has served as a Director and consultant of Newstrike since May 2017 and joins the Company as CCO to lead commercial operations including sales, new business development and strategic mergers and acquisitions across the organization. As CCO, Peter will be responsible for driving growth for the Company.
“As both a founding partner of Up Cannabis Inc. and Director, Peter has been instrumental in helping Newstrike achieve its major milestones,” said Jay Wilgar, Chief Executive Officer and Chairman of Newstrike. “He is a proven leader and has significant expertise in developing strategy and taking companies through rapid growth phases to full and profitable operations. I look forward to continuing to work with Peter as we continue to execute on our business plan and ready the Company for the legalization of adult-use cannabis.”
Prior to Newstrike, Peter was co-founder and CEO for Globalfaces Direct (“Globalfaces”), a leading multichannel marketing agency serving the not-for-profit sector with over 600 agents and 30 offices across North America. Peter led the growth of Globalfaces to be one of the fastest growing companies in Canada over a 5-year period prior to partnering with private equity firm, CPS Capital in June 2018. Other companies Peter has co-founded are: Easylease Corp, Canada’s leading asset-based financing and syndication company; EnWise Holdings, an energy conservation company focusing on energy retrofits and RMR rental programs and Extreme Pita, a North American food and retail franchise operation founded in 1997.
“I look forward to continuing to work with the Newstrike team as we enter this critical stage in our company’s growth,” said Peter Hwang. “We are poised to be one of the most recognizable brands in the sector and I believe our corporate strategy enables us to see rapid but very sustainable growth both short and long term.”
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TORONTO, July 09, 2018 (GLOBE NEWSWIRE) -- Quinsam Capital Corporation (CSE:QCA) ("Quinsam" or the "Company") is pleased to provide its investors with an update on recent investments and performance.
“We expect to report Q2 results in August. However, it is apparent from what we now know that the second quarter produced another strong result for the Company,” said Roger Dent, CEO of Quinsam. “We saw a number of liquidity events in the quarter and a number of our invested companies raised funds at higher prices than we paid.”
The following provides an update on certain key investments.
C21 Investments Inc. (“C21”) Quinsam invested $1.5 million in debentures of this US cannabis issuer. The debentures converted on listing at $1 per share and Quinsam also received a 10% bonus lowering our effective cost to $0.90 per share. C21 has completed transformational acquisitions, has now listed and the shares recently traded at $2.50.