Cannabis Investing News Stocks
Adastra Holdings
Purveyor of Quality Cannabis Derivatives and Award-Winning Extracts
Overview
Adastra Holdings Ltd (CSE:XTRX,FRA:D2EP) is a licensed Canadian agricultural-scale cannabis extraction, distillation, product manufacturer, and retailer. Formerly known as Phyto Extractions Inc., the company is one of the best-known brands in the Canadian cannabis market. Its popular vapes, concentrates, and oil products are widely available at 1,400 retailers across Canada.
The company competes in the highly attractive worldwide cannabis market, The company competes in the highly attractive worldwide cannabis market, estimated to reach a value of US$50,251 million in 2021 and is expected to grow at a CAGR of 26.5 percent from 2021 to 2030.
In addition to medical cannabis use, recreational use is on the rise as markets in countries like Canada have opened through regulation in recent years. Critical factors for success in this market include the ability to navigate the complex regulatory landscape, access to supply, manufacturing and processing capability, and strong consumer brands.
Adastra operates through three businesses:
1. Phyto Extractions™ is a high-quality grass-roots cannabis brand with extensive market presence throughout Canada. Our product portfolio is set to expand from 18 to 30+ SKUs in Fiscal 2021 with the following existing and new cannabis products in the pipeline: edibles, beverages, flower (bags, pre-rolls), hydrocarbon extracts (butter, diamond, shatter, terp sauce, wax), topicals (roll-on, creams, oils, oral spray, path), and existing product SKUs for vapes.
2. Adastra Labs is a Health Canada Standard Producer (cannabis extraction, no cultivation), cannabis product formulator/manufacturer, and licensed cannabis sales (extracts, edibles and topicals) operator with a 13,000 sq. ft. facility located in Langley, BC Canada. With our newly commissioned hydrocarbon extractor, we have increased extraction capacity up to 146,000 kgs per year (agricultural scale) that makes us one of the largest full-service cannabis extraction companies in Canada. We produce and manufacture both Phyto Extractions™ branded and white label cannabis extracts and products for sale throughout Canada.
3. Chemia Analytics (chemia.ca) is Adastra’s state-of-the-art in-house testing laboratory. The facility conducts quality assurance, quality control and Health Canada regulatory compliance testing for licensed cannabis producers and products. The company plans to establish Chemia as one of the most advanced cannabis analysis, product sampling, testing and R&D labs in the industry through strategic talent recruitment and a C$1 million capital expenditure investment.
The company’s flagship Shatter product line is a high potency and high purity wax and crumble cannabis concentrate. The product is third-party tested to ensure compliance and quality standards and includes three product SKUs – Pink Kush, Blue Gorilla OG and Death Bubba. Shatter exists within a niche market alongside relatively few competitors. As a result, Shatter has the potential to be a significant opportunity for Adastra Holdings Ltd to further penetrate the cannabis market.
The company has delivered strong financial results for the six months ending June 30, 2021. Highlights include 327% revenue growth to over C$1.8 million compared to the same period last year, driven by increased processing of cannabis biomass for third party licensed producers and in-house distillate production, and hydrocarbon extraction.
Adastra’s financial success is also directly linked to the company’s constant efforts to improve profitability. Most recently, the company reduced expenses by C$7,000 a month while increasing sales by 35%. The company’s shatter and vape products are responsible for around C$1.5 million in revenue. Adastra believes that given their existing presence and market success, they can grow sales to C$4 million per month by launching new products.
The company is led by a highly experienced management team, including cannabis industry pioneers and Ph.D. experts in plant medicine and plant biochemistry. Management strongly believes in the company’s ability to succeed, which is why the company has a tight share structure and is almost debt-free. Adastra also believes there is a blue sky ahead given its extensive presence and success in the cannabis market.
Adastra Holdings Ltd’s Company Highlights
- Adastra Holdings Ltd (CSE:XTRX,FRA:D2EP) is a leading licensed Canadian agricultural-scale cannabis extraction, distillation, product manufacturer and retailer.
- Adrasta’s newly commissioned hydrocarbon extractor has increased the extraction capacity of its facility by up to 146,000 kgs per year
- (agricultural scale) making them one of the largest full-service cannabis extraction companies in Canada.
- Formerly Adastra Labs, the company is one of the most recognized cannabis brands and its [award winning] shatter and vape products are widely distributed in 1,400 retailers across Canada.
- Adastra’s flagship Shatter product line is unique in the Canadian marketplace and has the potential to be a significant driver of growth. Shatter is a high potency and high purity wax and crumble cannabis concentrate.
- Adastra received its Health Canada R&D license to conduct in-house human testing for various cannabis products.
- The company operates with an attractive financial model that has the potential to generate strong returns for shareholders. The company aims to further increase revenues by launching over a dozen new product lines and white label products.
- The company is led by a highly experienced management team, including cannabis industry pioneers and Ph.D. experts in plant medicine and plant biochemistry.
- Adastra signed a definitive agreement with Sitka Weed Works Inc. regarding the supply of premium craft cannabis grown by Sitka.
Adastra Holdings Ltd’s Key Products
Shatter
The flagship Shatter product is a signature high potency and high purity wax and crumble cannabis concentrate available in 1 gram sizes. Shatter strains come in Pink Kush, Blue Gorilla OG and Death Bubba. The product features 70% to 80% THC across product SKUs. All of Adastra’s concentrates are third-party tested to ensure compliance and quality standards.
Pink Kush contains 73.7% pure THC. The dominant terpenes are ɑ-caryophyllene, ɑ-Bisabolol and ɑ-Humulene. Pink Kush has a distinct sweet vanilla taste and scent.
Blue Gorilla OG is an Indica-dominant hybrid concentrate that contains 76.6% of THC. The dominant terpenes are ɑ-pinene, myrcene and ɑ-Humulene. Blue Gorilla OG has a blueberry flavor.
Death Bubba is a hybrid of two potent cannabinoids, Death Star and Bubba Kush, and contains 73.9% THC. The dominant terpenes are ɑ-Humulene, myrcene and ß-pinene. Death Bubba has a dank scent.
Shatter is fully extracted from butane in a closed-loop hydrocarbon system that effectively preserves the terpenes to provide consumers with a full-bodied and flavorful experience. First, the dried and cured flowers are harvested for extraction at cold to room temperature. Next, the cannabis flowers are stripped from the stems and broken up at room temperature. Then, the product is extracted with 100% butane, a hydrocarbon solvent, that captures the cannabinoids and flavonoids and filters out the undesirable plant matter, lipids and waxes at cold temperature. Once processed, the solvents are quickly purged in a vacuum oven at low heat, which leaves the final Shatter product.
On September 3, 2021, Adastra announced that it launched the Phyto Extractions full spectrum Shatter Vape Cartridge line. This product offers a convenient-use format to the fast-growing extracts segment of the Canadian adult-use marketplace.
Firestick
Firestick includes vape carts available in 1 gram, distillate vape carts and kits available in 0.5 gram and disposable vape pens available in 0.3 gram. Firestick vape carts come in pink kush, blueberry, green apple, grapefruit haze, orange, watermelon and blue raspberry. Firestick vape pens come in pineapple express, super lemon haze, blueberry and pink kush. The product features 80% to 90% THC across product SKUs. All of Adastra’s vape products are third-party tested and formulated with botanical terpenes created by an experienced formulation team. The Firestick product has been a commercial success with the company receiving few returns of the product.
The company uses CCELL® carts with ceramic coils for all vape carts and batteries. CCELL® carts are industry-leading technology with very low failure rates. Vape cart formulations are made under the terpenes threshold for CCELL® carts, which results in fewer leaks. The vaporizer also features a multi-temp M3B battery which allows consumers to choose between three different temperature settings for customizable consumption.
Firestick vape carts are produced starting with cryo-ethanol production, in which cannabinoids and terpenes are dissolved, and phyto-compounds are removed by chilling ethanol to -40 degrees Celsius. Then, a crude extract is created by falling film evaporation to remove the ethanol. Next, THCA is converted to THC by heating the crude extract through a process called decarboxylation. Then, cannabinoids are refined and separated from the crude extract through a short path wiped film distillation machine, leaving a distillate. Lastly, the distillate is tested to ensure it meets strict Health Canada guidelines in quality control and then combined with the desired terpene formulation. The lead time for 30 to 150 kg requires 2 to 3 days for extraction and 2 to 3 days for processing.
Live Resins
Live Resins are potent cannabis concentrates available in 0.5 grams. Live Resins come in Maple S and BCN Critical XXL. The product features 73% to 77% THC across product SKUs. All of Adastra’s concentrates are third-party tested to ensure compliance and quality standards. The product can also be used in vaporizers.
BCN XXL Critical is an Indica strain of live resin used by cannabis consumers and growers. BCN XXL Critical contains 76% to 77% THC content and 1.5% total terpenes. The dominant terpenes present are Limonene, ß-caryophyllene and Linalool, which provide a citrus profile with crisp lemon notes.
Maple S Live Resin is a hybrid strain of live resin that is ideal for new cannabis users. Maple S contains 73% to 74% THC and 6.2% total terpenes. The dominant terpenes present are ß-Myrcene, Limonene and ß-Caryophyllene, which provide a spicy and flavorful profile.
Live Resins are fully extracted from butane in a closed-loop hydrocarbon system that effectively preserves both volatile and non-volatile terpenes to provide consumers with a full-bodied and flavorful experience. First, the mature cannabis plants are harvested and flash-frozen to seal in the freshest and most aromatic terpenes. Next, the cannabis flowers are stripped from the stems and partly broken up. Then, cannabinoids and flavonoids are extracted with pure butane, a hydrocarbon solvent, which simultaneously filters out the undesirable plant matter, lipids and waxes. Lastly, the solvents are removed slowly in a vacuum oven during post-processing. The entire production process is completed at cold temperatures to preserve quality. As a result, Live Resins are best stored in a cool, dark place.
Terp Sauce
Terp Sauce is a full-spectrum oil available in cartridges of 0.5 grams. Terp Sauce is available in Mandarin Cookies.
Mandarin Cookie is hybrid strain oil that is 100% cannabis-derived and free of additives, carrier oils and synthetic fillers. The product contains 50% to 60% THC and 6.4% total terpenes. The dominant terpenes present are Limonene, ß-Caryophyllene and ß-Myrcene, which provide a smokey spice, citrus and pine flavor and aroma.
Terp Sauce is made using an advanced CO2 extraction process from a single source flower which preserves the flower’s terpene profile and potency. The lead time for 30 to 150 kg requires 1 to 3 days for extracting and anywhere from 2 to 4 days for processing.
Sitka Adds High-Quality Craft Flowers, Including Unique Genetics Previously Unavailable in Canada to Adastra Portfolio.
Adastra Holdings Ltd’s Management Team
Michael Forbes – CEO
Mr. Forbes comes to Adastra Holdings Ltd.. with a background firmly rooted in medicine, cannabis production and entrepreneurship. Demonstrating his knowledge and experience in the cannabis industry, Mr. Forbes has founded five medical cannabis clinics, under the Concord Medical Clinic umbrella, built Clarity Cannabis and Honeycomb Cannabis retailers to over 10 locations, and has also founded the cannabis licensed cultivation facility, Sitka Weed Works, in Canada.
Having medical experience of over 16 years, Mr. Forbes has also built and operated pharmacy chains across British Columbia and Alberta, and founded a dozen medical clinics, including three methadone clinics in order to protect the public from drug diversion and increase accessibility to plant medicine.
Mr. Forbes graduated from the University of British Columbia in 2002 with a BSc. in Pharmaceutical Sciences, also achieving additional certification in Hormone Restoration, Age Management Medicine, and more recently, Cannabis Plant Production and Facility Management from Kwantlen Polytechnic University. Michael also has his private pilot’s license from Mount Royal Aviation College and was elected to attend the Ivey School of Business for Canada’s Top 40 under 40 in 2017 where he received an honorary MBA.
Donald Dinsmore – COO
Donald is a professional plant biochemist with a background working with successful research groups at the University of Calgary where he earned his Bachelors and Masters of Science degrees in Plant Biochemistry. He was Operations Manager for Heart Rock Mountain Farms, CA, USA cannabis growers..
Priyanka Nalawade – Director of Production, A/QAP
Priyanka Nalawade is a senior research and development chemist with extensive experience synthesizing and characterizing novel high-performance polymers obtained from renewable sources. Nalawade earned her Bachelor of Technology in Polymer Engineering at the Institute of Chemical Technology in Mumbai, India and a Ph.D. in Polymer Engineering at the University of Akron in Ohio in the United States.
Kyle Boniface – Director of Quality and Compliance
Kyle is a professional chemist with a demonstrated ability to communicate technical and complex information to peers, industry and academic collaborators, students and the general public. He has proven cannabis industry experience directing programs for cannabis extraction, product development and R&D. He is also named the inventor on two patents related to polymer and materials science.
Solarvest BioEnergy
Producing The World’s Only Plant-based Organic Certified Omega -3
Overview
The global nutraceuticals market is expected to grow at a CAGR of 9.3 percent, with the potential to reach a market value of $658.11 billion by 2028. Nutraceuticals refer to medicinally or nutritionally functional consumables that include herbal remedies, nutritional supplements and fortified foods, among many other things. The nutraceuticals market was valued at US$320 billion in 2020 alone.
Among all nutraceutical products, Omega-3 fatty acids products are the most popular around the world. Omega-3 fatty acids have a myriad of potential benefits for human health including reducing the risk of cardiovascular disease, improving brain growth and development, reducing inflammation in the body and reducing the risk of cancer –– just to name a few. Based on these potential benefits, it’s no wonder that the global market for Omega-3 products was valued at US$44 billion in 2020.
Solarvest BioEnergy (TSXV:SVS) is an innovative Canadian technology development company focused on producing a wide range of patented algae-derived products including Omega-3 supplements and therapeutic proteins. The company plans to deliver solutions in human and animal nutrition, prescription and non-prescription medication and derivatives through its proprietary clean energy algal production platform. Solarvest BioEnergy is led by a highly experienced management team with nuanced expertise and a proven track record of achievements in developing commercial biotech products.
Technologies
Organic Omega: Solarvest BioEnergy’s algal production process allows for replicable, consistent and high-yield concentrations of final products for expedited product development and complex product versatility. It sustainably and efficiently produces organic certified Omega-3 fatty acids with five days of production resulting in tons of biomass. The company has produced the first and only FDA-approved DHA/EPA Organic Omega-3 supplement that is certified organic, vegan, allergen and pollution free, highly bioavailable, sustainable and non-GMO. Solarvest BioEnergy’s key consumer brand is called EverseaTM which brings the company’s first commercialized Organic Omega-3 products to market. The company’s Organic Omega-3 product(s) are plant based (from algae) so completely free of fish, unlike the majority of options in the market. The Organic Omega-3 product(s) is also available on the market white label.
Protein Expression: Solarvest BioEnergy has announced a successful proof of concept study for producing therapeutic proteins from algae. The first protein, bone morphogenetic protein (BMP6) is a highly valuable and complex protein that is used in human medicine to accelerate healing and enhance bone growth. Unlike current market options, the company’s BMP6 is safe as algae are free of any known human pathogens. The company is confident that it can produce other proteins. Solarvest BioEnergy will market its BMP6 and other potential proteins as approved pharmaceutical ingredients to large pharmaceutical companies.
The company has completed a feasibility study and implemented a research and development program to expand its product portfolio to include THC and CBD products. Solarvest BioEnergy believes that it can produce CBD from algae with its SVS algal expression platform. Compared to current CBD production methods, algal-based production will be significantly faster, higher quality, safer and since its produced in sterile bioreactors more controllable when compared to conventional agriculture.
H2 Expression: The company’s proprietary microalgae induction technology converts carbon dioxide and other nutrient waste streams into useful biomass and hydrogen
Solarvest BioEnergy has organized contract manufacturing for the commercial production of its Organic Omega-3 products. The company has secured an organic certified contract manufacturer from a German multi-billion dollar food company. Solarvest is also currently looking into the possibility of domestic production to build out the supply chain from its existing research and development facility in Prince Edward Island in Canada. The company also recently entered into a contract with Canada’s Smartest Kitchen to produce an ingredient blend for the plant-based seafood industry.
Solarvest BioEnergy has already filed 68 patents in commercially relevant markets including Europe, the US, Canada, Japan, China and Australia –– many of which have already been granted. In addition to Eversea’s e-commerce platform, the company plans to pursue a global penetration strategy by making strategic partnerships with organic food processors who to sell into large retailers and e commerce sites. This includes selling their Organic Omega-3 product as an additive or enhancement to organic food products such as dairy goods and smoothies sold by other companies. Given the importance of Omega-3 in brain development in babies and young children, the company will also market to the global infant and baby food segments.
Solarvest BioEnergy’s Company Highlights
- Solarvest BioEnergy is an innovative Canadian technology development company focused on producing a wide range of patented algae-derived products for human and animal nutrition, prescription and non-prescription medication and derivatives.
- Solarvest BioEnergy’s key consumer brand is called Eversea which brings the company’s first commercialized Organic Omega-3 product to market. The product is the first and only FDA-approved DHA/EPA Organic Omega-3 supplement that is certified organic, vegan, non-toxic, highly bioavailable, sustainable and non-GMO. It will be sold through strategic partnerships and white label selling.
- The company’s proprietary clean microalgae process allows for expedited product development and versatility to produce multiple complex products.
- Solarvest BioEnergy’s production technology successfully produced highly valuable and safe bone morphogenetic protein (BMP).
- The company has a strong market growth strategy. The company plans to expand its product human therapeutic CBD and THC products.
- Solarvest BioEnergy is led by a highly experienced management team with expertise and a proven track record of achievements in developing commercial biotech products.
Solarvest BioEnergy’s Key Products
Eversea
Eversea is Solarvest BioEnergy’s consumer brand of products. Eversea has brought the company’s Organic Omega-3 supplement to market through its e-commerce platform on its website. The product features a unique and patented Nanuq Organic Omega-3 ingredient which is certified organic in the European Union and by the USDA.
The Omega-3 supplement comes in the form of a dried fruit gummy that includes the companies patented long-chain Omega-3 which is significantly more bioavailable than current plant organic Omega-3 options which are short-chain. Known as ALA, (from Flax chia hemp) and only allow for less than 10 percent bio-absorption.
It is also pure with no solvents or chemicals such as hexane and acetone that are often used to extract Omega-3 oil from fish and krill. The Omega-3 supplement is also free of toxins and heavy metals such as mercury, PCBs and dioxins that are found in fish from the ocean. It is also completely free of fish and derived from algae which eliminate the risk of ocean-based contamination and saves dwindling native fish populations.
Eversea will bring to market various products that the company plans to release. Algae powder products will come in the forms of a processed food supplement, human nutraceutical, infant and baby food and a children’s supplement. Algae oil and beverage supplementation products will be human nutraceuticals. Pharmaceutical-grade oil will come in the form of an active ingredient and a carrier for bioactive products.
Solarvest BioEnergy’s Management Team
Gerri Greenham — CEO and Director
Gerri Greenham has been active in the biotech industry since 1983. He organized the acquisition from Connaught Laboratories of their biotech division to create Cobequid Life Sciences Inc. (TSE: KQR) that was subsequently acquired by Novartis Animal Health Inc. (“Novartis”) in 2000. Since then, he has been involved in private investments as well as sitting on boards of directors and advisory boards of various public and private companies.
Dr. Azoy Kumar Kundu — Senior Research Scientist
Azoy Kumar Kundu obtained his bachelor’s degree in Agriculture from Bangladesh Agricultural University. He completed his M.S. and Ph.D. degrees from Japanese universities on plant viruses and carried out his postdoctoral research at JIRCAS in Japan. Before joining Eversea Inc., Kundu served at AquaBounty Canada Inc. as a senior research scientist. Kundu developed PCR-based diagnostic assays to differentiate the genetically modified Atlantic salmon (GMO salmon) from the wild-type Atlantic salmon and validated several important studies for AquaBounty. Kundu has completed “Good Laboratory Practice Study Director/Principal Investigator Training” from the Society of Quality Assurance in the United States. Kundu has experience in molecular biology, cell biology, protein chemistry-based research works, a wide range of laboratory techniques and analytical instrumentation. Experience in these fields enables him to perform high-value protein expression studies in microalgae.
Garth Greenham — COO
Garth Greenham has an extensive record with both privately-held and publicly traded healthcare companies. He served as president of the global aquaculture division at Novartis Inc. He started his career with Johnson & Johnson (J&J) where he served 15 years mostly with McNeil Pharmaceutical in numerous management positions in operations. He joined Cobequid Life Sciences Inc. (KQR) and served as director of sales and marketing and operations for nine years. Greenham helped grow Cobequid Life Sciences to become a global leader in the field of aquaculture animal vaccines.
Dr. Michael Thomas Horne BA Ph.D. FRSB FCIM FIBMS CBiol CSci CMgt — Head of Research
Dr. Michael Horne is a Fellow of Royal Society of Biology (UK), Fellow of Institute Biomedical Scientists and a Fellow of the Chartered Institute of Management is Solarvest’s Head of Research. Horne obtained a first degree and Ph.D. in genetics at the Universities of Oxford and Wales (UCNW). He later taught genetics at UCNW and then at Stirling University where he was the head of genetics and director of the aquatic vaccine unit. He joined the Canadian company Cobequid Life Sciences Inc. (KQR) as a director of research, developing over 40 licensed products for aquaculture for 20 years. On the acquisition of KQR by Novartis, he remained the director of research and development. Throughout this period, he held a number of non-executive positions and directorships in companies. He also acted on the advisory panel of the Scottish Development Agency and worked with various UK national scientific committees and The Irish Board of Medicines. Before moving into the industry, he was the author of 65 peer-reviewed publications and many more articles, presentations and contributions to general journals. He is also an author and co-author of a number of issued patents.
The Hash Corporation
High Profitability, Low Cost Cannabis Production Model
Overview
The global legal cannabis market is seeing unprecedented growth in recent years. In 2020, the market size stood valued at US$24.6 billion, with market researchers projecting market expansion at a compound annual growth rate of 14.3 percent from 2021 to 2028.
Changing regulations have led to increasing innovation in cannabis applications such as medical and pharmaceutical uses worldwide. As cannabis blends into more industries, investors should see substantial investment opportunities and possible exposure to wildly prospective markets.
The Hash Corporation (CSE:REZN) is a Canadian company focused on the production of cannabis-based hashish and other premium cannabis products. Using the adaption of old-world traditions, the company aims to safely deliver authentic hashish experiences crafted to modern standards and regulations.
Through strategic relationships in global cannabis jurisdictions worldwide, The Hash Corporation has created a unique blend of nostalgic hashish tastes, smells and cultures to contemporary legal markets. The company dedicates much of its operations to developing innovative and high-quality products with license holders to bring premium products to market.
The Hash Corporation is also actively monitoring the evolving legal frameworks abroad to stage a strategic entrance into emerging cannabis markets internationally. In prospective markets like Spain, Pakistan, Morocco and Afghanistan, hashish has broader appeal and consumption than the plant counterpart, making for potential expansion.
The company has secured licensed processing space and commenced operations in the heart of Toronto to produce white-label and The Hash Corporation branded products in April 2020. Strategic positioning in such a populous and advanced city allows The Hash Corporation to leverage a broad consumer base, supportive legal regulations and excellent infrastructure.
The company’s diverse business network enables significant growth potential by utilizing the collective strengths across exciting emerging industries. Some strategic relationships include First Republic Capital, Medz Cannabis Inc., Maratek and Black Rose Organics.
“We’re not like many other license holders in the cannabis space. We’re selecting partners to work with to add value to their product and extract value for us through our processes. We’ve developed a low-cost production model whereby we don’t have the overhead of maintaining our own facility, giving us kind of a clear path to breakeven and in the next quarter, projected profitability before the end of the year,” commented The Hash Corporation CEO Chris Savoie.
The company anticipates public listing on the Canadian Stock Exchange, finalizing its second 12-month production contract and the commencement of wholesale distribution capabilities of hash products in 2021. The Hash Corporation has commenced commercial-scale operations and the occupation of full-scale custom-designed processing space at Medz Cannabis Inc.
The company’s well-engineered business execution strategy enables increased profit potential through long-term product development contracts, focus on strategic collaboration opportunities and honing the emerging global market to maximize shareholder value.
In March 2021, the company announced it completed a non-brokered private placement for gross proceeds of CAD$1,505,000 through the issuance of 10,050,000 common shares at CAD$0.10 per share. The Hash Corporation has a solid capital structure, which currently stands at 239,270,000 common shares.
The Hash Corporation’s management team consists of leaders in the cannabis industry with years of corporate management, product development, finance and cannabis industry experience. Their vest interest in the success of The Hash Corporation primes the company for exceptional growth potential and economic accomplishments.
The Hash Corporation’s Company Highlights
- The Hash Corporation is a Canadian cannabis company focused on producing and selling cannabis-based hashish and other premium cannabis products. It is dedicated to creating a unique nostalgic experience that consumers can resonate with.
- The company has existing white-label partnerships and has generated revenue in 2021, with profitability projected by the end of 2021.
- The Hash Corporation is currently in discussion with US partners to enter the California market with its branded products. Future expansion plans point to potential international distribution in emerging markets around the world. Shifts in legal frameworks present tremendous expansion potential.
- The company’s leadership comprises industry experts with a proven track record of management successes aligned with shareholders and stakeholder interests. This passionate management team has deep roots in the cannabis space and leverage world-class expertise on the market.
- The Hash Corporation anticipates public listing on the Canadian Stock Exchange in early 2021. Solid capital structuring and a recently completed non-brokered private placement present good cash positioning for development and financial growth.
The Hash Corporation’s Service Pipeline: The Hash Corporation
The Hash Corporation works with licensed cultivators to craft authentic, traditional Hashish products and experiences focusing on quality and innovation in regulated markets. The company provides an array of hashish and cannabis-focused services, including separation, finishing, breeding and innovative product development. Its expert blend of traditional and modern processing techniques creates premium hashish and resin products that create unique and nostalgic experiences for its customers.
The Hash Corporation’s Management Team
Chris Savoie — CEO
Chris Savoie is a world traveler and entrepreneur who began his work with medical cannabis in 2004 under the former MMAR. While working full time in sales and project management, he built a wealth of knowledge as a grower, extractor and cannabis product developer, working to relieve his father’s M.S symptoms. Savoie’s skills in a wide range of extraction methodologies and experience selecting cultivars with ideal characteristics for those processes have been integral to developing several award-winning legacy cannabis brands. A renowned hashmaker, Savoie brings over 17 years of expertise, business acumen and powerful industry networking to the new era of regulated cannabis extract products.
Avicanna
Leading Biopharmaceutical Research and Development of Commercialized Cannabinoid-Based Products for Global Markets
Overview
The medical cannabis space is seeing a radical transformation. With new regulatory changes and supportive legislative actions, the incorporation of cannabis in the medical and pharmaceutical industries presents the perfect storm of investment opportunities that could completely change the game.
Analysts project the global medical cannabis market to reach upwards of US$44.4 billion by 2025, with a CAGR of 22.9 percent. Leveraging these outstanding expectations, many pharmaceutical giants such as Novartis have already formed strong partnerships with big players in cannabis such as Tilray to develop and distribute medical cannabis in legal jurisdictions worldwide. With the collision of two major economic industries, investing in this unprecedented unity of cannabis and medical markets presents enormous investment upside potential at global scales.
Avicanna (TSX:AVCN) is a Canadian biopharmaceutical company since 2015 focused on evidence-based utility of cannabinoids and the commercialization of its premium branded medical cannabis products. Its expertly engineered vertically integrated business model and diversified and high-margin income streams are comprehensive, internationally scalable and incorporate strategic national partnerships, like Shoppers Drug Mart.
Avicanna has strong commercial positioning in several commercial markets around the world. This portfolio includes an intellectual property portfolio of products that range from evidence-based and clinically backed skincare products branded as Pura H&W hemp-derived skincare and RHO Phyto branded medical cannabis products. The company also has an extensive pipeline of pharmaceutical drugs and a portfolio of over 60 products developed.
Its supply chain vertical business unit, branded as Aureus Santa Marta, is an established low-cost and sustainable source of cannabinoid actives and seeds with six current international export countries. This unique business operates two majority-owned subsidiaries in Santa Marta, Colombia, with a combined capacity of 30,000 kilograms and a world-class organic and sustainable cultivation operation.
In 2017, Avicanna became the first cannabis company to be accepted into Johnson & Johnson Innovation JLABS in the heart of Toronto, Ontario. Its expertly engineered scientific platform incorporates world-class R&D and pre-clinical and clinical infrastructure, which are driving new developments in the medical cannabis space. This partnership positions Avicanna amongst some of the world’s most prospective biotechnologically and research-driven companies and legitimizes the company as a visionary for the future of medical cannabis product development.
The company intends to focus on further commercialization of its existing products in 2021. Seeing the success of its proprietary cannabis products, Avicanna expects positive reactions in expanding distribution into the North American marketplace across more channels. It is also currently working on its RHO Phyto global strategy of emerging medical and prescription-only channels and drug registration processing in South America for regulatory approval in major markets such as Brazil, Mexico and Colombia.
The company operates a strong capital structure and shareholder portfolio tightly held by insiders, institutions and strategic investors who are aligned with the company’s long term vision of leading evidenced based cannabinoid medicine at a global level.
In March 2021, Avicanna closed its non-brokered private placement to issue an aggregate of 4,480,000 units at CAD$1.25 per unit for aggregate gross proceeds of approximately CAD$5.6 million. The company intends to put net proceeds toward general working capital purposes.
Avicanna has a world-class management team with a proven track record of success across a diverse profile of industries, including biotech, finance, corporate development and pharmaceuticals. This experienced and accomplished leadership and scientific team primes the company for outstanding growth and revenue generation.
Avicanna’s Company Highlights
- Avicanna is a vertically integrated biopharmaceutical company driving advancements of plant-based cannabinoid-based and medicinal-grade standardized products.
- Avicanna is the first cannabis company to be accepted into Johnson & Johnson Innovation, JLABS, in Toronto, Ontario. Placement in this scientific innovation center surrounds the company with some of the most prospective start-up companies pursuing new technologies and research platforms in medical care.
- The recently commercialized company operates with diversified and high-margin income streams. It provides advanced and proprietary cannabinoid products across three categories: hemp-derived consumer retail products and medical cannabis products for commercial markets and a pharmaceutical pipeline in clinical development.
- Avicanna’s organic and sustainable cultivation through its two large-scale Colombian subsidiaries were highest amongst global cannabis companies in the SAM Corporate Sustainability Assessment issued by S&P Global.
- The following steps for the company include launching RHO Phyto across retail channels in Canada, building deeper clinical and commercial relationships and furthering the commercialization of its cannabinoid products across international markets.
Avicanna’s Key Projects
Pura H&W: Hemp-Derived Consumer Retail Products
Pura H&W is a line of commercial skincare products addressing the emerging global CBD cosmetics segment. Employing functional, evidence-based CBD derma-cosmetics, Avicanna has developed a unique line of 13 premium skincare products supported by clinical results and distributable across medical cannabis, adult-use, retail and online sales channels. The company expects national and international product partnerships and product launch for 2021 in Canada, the US, UK and other markets in South America.
RHO Phyto: Medical Cannabis Products
RHO Phyto is an advanced formulary of over 20 CBD & THC oral, sublingual and topical products taken through industry-leading drug development processes. This strictly medical formulary has the potential to treat primary endpoints and general comorbidities, including anxiety, depression, appetite, pain and sleep. The product line is supported with education and training for patients, physicians, consumers and retailers.
In May 2021, Avicanna launched its initiative to distribute RHO Phyto medical cannabis products to major Canadian hospitals for medical referrals and in-house dispensing. Seven RHO Phyto products will be available for purchase at Sunnybrook Hospital’s Odette Cancer Centre pharmacy by patients that have been issued a written order from an authorized health care practitioner.
Avicanna’s Pharmaceutical Pipeline
Avicanna operates a pipeline of products across several target indications and drug registration pathways, which leverage comprehensive R&D and clinical platforming.
Its intended pharmaceutical pathways include generic pharmaceuticals, natural drug or phytotherapeutic designations and rare disease pharmaceutical pipelines expected for international expansion in 2022.
Avicanna’s Management Team
Aras Azadian, M.Mgmt — CEO
Utilizing his extensive senior management experience in both financial and biotechnology sectors, Aras Azadian co-founded Avicanna with the vision of establishing a biopharmaceutical company with a strict focus on medical and pharmaceutical applications of cannabinoids. His expertise in the biotechnology industry has been integral to Avicanna’s thought leadership pertaining to R&D and clinical development. Since 2016, Azadian has successfully led a team of executives, scientists and medical professionals across several countries with the vision of vertical integration and a strong company focused on quality controls, scientific vigor and competitive advantages.
Azadian holds a Bachelor of Economics degree from York University and an International master’s in management degree from EADA Business School in Barcelona, Spain.
Setu Purohit, JD, ICD.D — President and CLO
Experienced in complex corporate and legal strategy and contract negotiations, Setu Purohit’s unique expertise as a lawyer and an entrepreneur has been central to Avicanna’s structure and key global partnerships. As the executive lead for Avicanna’s Initial Public Offering (IPO) process, Purohit encompasses the qualities of an adaptive strategic leader equipped with market awareness, business acumen and an in-depth understanding of Avicanna’s long-term objectives. Purohit spearheads the company’s regulatory navigation with a vision specific to the pursuit of partnerships and commercialization opportunities with high regard for best practices.
Purohit holds a Bachelor of Commerce degree from the University of Ottawa and a Juris Doctorate (JD) degree from the University of Western Ontario.
Dave Sohi, CPA, CA, CBV — CFO
Dave Sohi has been responsible for all financial operations at Avicanna since its inception. A pragmatic financial leader, Sohi has wide-ranging experience in financial management, business leadership, corporate strategy, mergers and acquisitions and valuation services. His extensive experience with RSM Richter’s and Ernst and Young’s Transaction Advisory Practices has equipped him with the acumen and vision to deliver exceptional strategic direction, streamlined financial and procedural policies and create monitoring and accountability systems. Sohi spearheads the responsibility for the complete and accurate preparation of all Avicanna teams and subsidiaries for Initial Public Offering (IPO).
Sohi has obtained his Chartered Accountant and Chartered Business Valuator designations and has earned a Bachelor of Commerce degree from Queen’s University.
Lucas Nosiglia, MFin — President of Avicanna LATAM
A seasoned entrepreneur and executive with experience across Europe, North America and South America, Lucas has been at the forefront of Avicanna’s Latin America (LATAM) operations since the company’s inception in 2016. His innovative and transformative approach in navigating the cannabis industry and his former involvement in management consulting, finance and health care have been invaluable in establishing and operating the company’s Colombian subsidiaries, including two fully operational cultivation projects. Nosiglia’s experience from working at Deloitte, along with his leadership values, are at the core of his success in leading Avicanna’s largest teams.
Nosiglia graduated with an Honours degree from the Faculty of Economics of the University of Buenos Aires and holds a Masters degree in Finance from EADA in Barcelona, Spain.
Ivana Maric — Executive VP of Marketing
Leading the company’s marketing operations since its inception, Ivana Maric has championed the development, launch and management of all Avicanna’s brands and product lines globally. A trailblazer with significant experience in traditional and digital media platforms, advertising, brand development and awareness across several sectors, Maric utilizes her previous experience and thorough comprehension of the evolving landscape of the cannabis industry, its trends and challenges. Her former experience as the Director of Marketing for Ophiuchus Consulting Group and leading numerous marketing efforts and brand launches for start-up companies has been central to Avicanna’s exponential and continued growth. Maric has a Bachelor of Commerce degree in Marketing Management from Ryerson University.
Dr. Frantz Le Devedec, Ph.D. — Executive VP of Research & Development
Dr. Frantz Le Devedec has over 15 years of experience in academic and industrial research in biomaterials, drug delivery platforms and purification processes of natural compounds applied to cancer therapies, pain management and infectious disease. With a strong background in biochemistry, he received his Ph.D. in Physical Chemistry at Université de Montréal with honors and worked for Dr. Christine Allen’s Research Group (CARG) at the University of Toronto, leading several pharmaceutical projects for industrial partners and academic-oriented research.
Dr. Le Devedec also worked at Princess Margaret Cancer Centre as a research associate, where he developed new approaches for pancreatic cancer therapy. He is the first author of more than fifteen scientific publications, patents and presented in international conferences and universities. For the past three years, Dr. Le Devedec has been at the top of the R&D department of Avicanna Inc, where he has developed numerous advanced cannabinoid formulations (orals and topicals) now commercialized in North America, Latin America and finally put in place methodologies to purify cannabinoids from lab scale to industrial capacity in our cannabis cultivar in Colombia.
Ayurcann
Toll Processing & White Label Solutions for Licensed Producers
Overview
In an industry that was previously reliant on grower companies, more fully integrated companies delivering multiple verticals in cannabis processing and production offer an unparalleled investment opportunity that stands out from the rest.
Ayurcann (CSE:AYUR) is a leading B2B post-harvest solution and provider focused on providing scalable custom processes and pharma-grade products to the medical cannabis industry in Canada. Ayurcann is focused on becoming the partner of choice for leading Canadian cannabis brands by delivering best-in-class, proprietary services, including ethanol extraction, formulation, product development and custom manufacturing.
The company offers a two-tier business model of services and production. The manufacturing vertical offers three production divisions specializing in expert cannabis-based extraction and refinement, high-quality bulk oil sales and white label manufacturing. Ayurcann currently extracting approximately 1,500 kilograms a week of product and has the capacity to process up to 200,000 kilograms of dry cannabis annually.
Additionally, its proprietary Ayurcann Marketplace offers a premium selection of cannabis and hemp products, including tinctures, vapes and topicals for personalized care.
The company operates out of Pickering, Ontario, allowing Ayurcann to leverage easy access to licensed producers and other cannabis participants in the region. It also holds Processing and Research Licences issued by Health Canada.
Ayurcann’s management team consists of innovators in the cannabis and corporate space that bring together years of experience in business development, finance, post-harvest production and quality control. This leadership and their vested interest in the success of
Ayurcann’s Company Highlights
- Ayurcann is a premier post-harvest cannabis solutions company focused on providing and manufacturing unique development processes and high-quality products for patient and adult use in Canada.
- The company aims to be a market leader and supportive partner within the cannabis extraction business. It has created turn-key-post harvest outsourcing for licensed cannabis producers, using a strategic end-to-end model.
- The company’s Ayurcann Solutions offers premium services across various cannabis production verticals. This portfolio includes expert cannabis-based extraction and refinement, high-quality bulk oil sales and white label manufacturing.
- Ayurcann also operates the Ayurcann Marketplace, specializing in safe and well-engineered medicinal cannabis concentrate products for personalized and patient care.
Ayurcann’s Key Solutions
Production Division
Ayuracann’s production division, offers full end-to-end outsourcing services, including proprietary product research & development, cannabis extraction & refinement and final production formulation & fulfillment. The company leverages experience, expertise and a robust network to assist clients across Canada and the world.
Ayurcann provides multiple verticals in cannabis production. These premier services include well-engineered extraction and refinement, high-quality bulk oil sales for manufacturers and brands and white label manufacturing for product development to commercialization.
Medicinal Cannabis Marketplace
The Ayurcann Marketplace offers a personalized level of care through its high-quality, safe and consistent medicinal cannabis tailored to patient needs. This robust selection of premier cannabis products includes tinctures, vapes and topicals.
The company leverages an impressive library of terpenes and utilizes flexible production and concentration processes to address unique customer needs.
Ayurcann’s Management Team
Igal Sudman — CEO & Co-Founder, Director
Igal Sudman is a business development specialist who brings over 20 years of experience in various industries, from real estate development to technology and cannabis. Sudman understands the objectives and requirements needed to scale companies from seed to exit, having founded and developed businesses featured on the Canadian Profit 50.
Roman Buzaker — President, COO & Co-Founder, Director
Roman Buzaker is a corporate strategist with a specialty in management and operational engineering. He has experience in industries such as logistics, digital marketing and business consulting. Buzaker managed the expansion and the development of various online and brick-and-mortar companies from single-location operations to multi-locational franchises nationwide.
Jaspreet Bhatia — Quality Control Manager
Jaspreet Bhatia is a quality control manager with a Ph.D. Degree in Chemistry. She has over five years of quality control experience and in-depth knowledge of GMP, GLP, Cannabis regulations and quality guidelines. She possesses extensive knowledge and expertise in technical writing, product development and product release
Raj Virk — Quality & Compliance Manager
Raj Virk is a quality system expert with over 18 years of experience in the pharmaceutical industry. Virk is highly skilled and experienced in GMP, GPP, quality investigations, deviation reports, technical writing and quality audits.
He holds a Master’s Degree in science along with a Postgraduate Diploma in Pharmaceutical Quality Assurance.
Aaron Meckler — CFO
Aaron Meckler is a seasoned corporate finance professional with over eight years of experience in public and private equity, covering real estate, growth-stage ventures, public listings and M&A transactions. He has acted in a CFO capacity for public and private companies and currently sits on the board of directors for two reporting issuers, Stralak Resources and Brandenburg Energy.
Alison Gordon — Director
Alison Gordon has worked in all verticals of this emerging market. As the founder of 48North Cannabis Corp, Gordon was the first female CEO of a public cannabis company. Gordon developed strategies for patient acquisition, brand awareness, investor relations, customer service, physician outreach, and has traveled all over North America, applying her vast marketing experience to evaluating investment and acquisition.
Gordon’s competitive advantage is her hands-on experience in production, distribution and retail across several vastly different markets throughout the US and Canada.
David Hackett — Director
David Hackett brings more than 20 years of financial and management leadership. He has overseen the growth of several start-up companies, including dealing with operations, technology, regulatory reporting, corporate governance, public financing and M&A activity.
Hackett is a CPA and CA and holds an MBA from the Richard Ivey School of Business at the Western University.
Maor Shayit — Director
Maor Shayit is a seasoned and ambitious operation & marketing professional with more than 15 years of experience driving national, sales and P&L growth across a wide range of industries, including retail, telecommunications and cannabis.
Shayit has successfully built and improved operations and marketing departments for the last three years for an emerging Ontario-based licensed producer as a COO.
Canbud Distribution
A Tri-vertical Health and Wellness Company
Overview
CANBUD Distribution Corp. (CSE:CBDX, FSE:CD0) is a science and technology-based health and wellness company that operates a trinitarian enterprise model in the plant-based protein, psychedelic pharmaceutical and non-psychedelic nutraceutical, and hemp cannabinoids (CBD) spaces. (www.canbudcorp.com)
Welcome To Canbud: Always On The Move#canbud #cbdx $CBDX #cse #hemp #cannabis #innovation #psychedelics #plantbased #protein #canada #invest #trading #health #wellness pic.twitter.com/4nCITayJ0Z
— Canbud Distribution Corp, CSE:CBDX (@canbudcorp) March 10, 2021
The company’s vision and mission is to become a world leader in science and technological innovations through plant and mushroom-based disruptive wellness and environmental solutions. CANBUD’s business model includes its premium plant-based nutraceuticals, psychedelic, and hemp-derived products and services.
CANBUD leverages on timely and methodical execution of its revenue generating plan across its three verticals.
Canbud announced that it has completed the acquisition of Molecular Science Corp. through a “three-cornered” amalgamation, whereby a newly-formed wholly-owned subsidiary of the Corporation amalgamated with MSC under the Business Corporations Act (Ontario) to form MSC Corp., a wholly-owned subsidiary of the Corporation.
CANBUD’s Management Team
Steve Singh – CEO & Co-Founder
Steve Singh is a seasoned investor with more than 35 years of experience in the financial sector. Over the years, he has built a significant global investment network and has provided consulting and advisory services to numerous publicly listed companies and has been involved in financings of over CAD$500 million throughout his career. He is the founder of Thinking North, a National Investor Network and the founder of Tekgenz, a full spectrum tech incubator. Singh is very passionate about helping entrepreneurs and companies attain their full potential. Using his vast global investment network, he helps companies raise capital, develop their messaging, amplify their marketing and devise corporate strategies.
Robert Tjandrar, BSc, MBA – President, COO & Co-Founder
Robert Tjandra started his career with BP Petroleum in Indonesia and BP UK in Aberdeen, Scotland. Later, he ventured into entrepreneurship, where he has developed a unique mixture of professional management and entrepreneurship skill sets across various international companies. Tjandra has co-founded and grown several companies generating millions of dollars in revenue in Indonesia with over 25 years of combined experience working, consulting, and developing businesses in construction, trading, oil, and gas, fintech, cleantech and agrotech. He has served on public and private Boards as a director and an audit committee member. Currently, he is a director at Electrum Charging Solutions.
Tjandra earned a BSc in Geology Specialist and Mathematics Minor from the University of Toronto and an MBA from the Philippines School of Business Administration.
Raj Ravindran, MSc, MBA, Ph.D., CFA – CFO & Co-Founder
Raj Ravindran is an entrepreneur and investor with diversified international experience and a passion for innovation, technology, and capital markets. He has held senior roles across a breadth of start-ups and small-cap companies in North America and Europe. Ravindran has co-founded numerous companies, including Thinking North, Canbud Distribution Corp. and is currently the UDP and director for Florence Wealth Management.
Ravindran holds a Master’s degree in Chemical Engineering, Ph.D. in Industrial-Organizational Economics, MBA in Finance and a Charter Financial Analyst designation.
Adrian Burke – VP of Marketing
Adrian Burke is a serial entrepreneur with over 24 years of brand development, marketing, and business execution experience. Burke’s previous focus in the nutraceutical space and his insight into the current state of attention and distribution aids in company efforts in differentiating consumer packaged goods (CPG) offerings. Likewise, his focus on the plant-based space and empathic approach to environmentally sustainable packaging will help build out and scale CANBUD’s intellectual property (IP) portfolio.
Dr. Jane Wright-Mitchell – Director
Based in California, Dr. Jane Wright-Mitchell is an experienced healthcare and life sciences attorney with more than 20 years working with pharmaceutical and medical device companies. She is currently General Counsel, Chief Compliance Officer and Corporate Secretary with Vaxcyte, Inc., a vaccine development company. Prior to joining Vaxcyte, she was Chief Legal Officer with Steep Hill, Inc., a state-licensed cannabis testing laboratory. She previously served as Chief Legal Officer at AcelRx Pharmaceuticals, Inc. where she also served as Chief Compliance Officer and Corporate Secretary. Earlier in her career, she served in legal roles of increasing responsibility at Mesoblast, Actelion, Purdue Pharma, and Neurogesx.
Gage Growth
Building One of the Fastest Growing Cannabis Brands in Michigan
Overview
Cannabis sales in Michigan have been soaring since its legalization in 2019. In 2020 alone, the state saw a combined US$985 million in sales from medical and adult-use, according to the Michigan Marijuana Regulator Agency. Sales in January 2021 alone reached a combined US$108 million, with adult-use alone hitting a record US$67.5 million. On the medical side, there are over 245,000 medical marijuana cardholders, representing 2.6 percent of the Michigan population. While other sales in other industries fell in 2020 with the pandemic, Michigan cannabis sales continued to climb.
The Michigan market is large and has a robust history of being a strong cannabis market. Michigan was only behind California in terms of the number of medical cardholders until the state went recreational. Michigan is expected to be a top 5 cannabis market that employs 18,000 people — as many people as there are car mechanics working in the famously automotive-focused state. These numbers show that Michigan’s emerging cannabis market already has a robust consumer base and a strong presence, presenting a massive opportunity for investors.
The United States continues to see the growing de-stigmatization of cannabis use amongst adults and an increasing number of states has legalized the recreational use of cannabis, most recently Arizona, Illinois and New Jersey to name a few. With this cultural and political shift, sales are expected to increase significantly.
Gage Growth Corp. is a premier cannabis cultivator, retailer and brand in Michigan that operates on the idea that “good is just not good enough.” Its core values of providing premium cannabis to market, positively shaping cannabis culture and nurturing the community primes the company for success and rapid economic growth.
The company operates three licensed cultivation and processing facilities in addition to 10 contract grow agreements in place. Gage also operates seven dispensaries throughout the state, including two Cookies branded dispensaries, with plans to open 20+ locations by the end of 2021.
Operating in Michigan strategically positions Gage to leverage the first-mover opportunities of the state’s booming cannabis market. “We realized in the early days that Michigan was going to be a top five cannabis market in the US, and we invested heavily in our human capital and hard assets so that the company is well positioned to dominate this market,” Gage CEO Fabian Monaco said.
The company is currently one of the largest vertically integrated cannabis companies in the state of Michigan. Gage has control of the cultivation, processing and retail aspects of its business. This vertical and centralized business model ensures the best customer experience and the consistency of Gage’s high product quality when selling directly to consumers.
Gage has developed exclusive partnerships with some of the most prolific and well-respected cannabis lifestyle brands in the United States such as Cookies. From seed to sale, the company holds itself to the highest possible standards to ensure customer and stakeholder satisfaction.
Gage has demonstrated strong performance with the start of recreational sales in Michigan. In addition to fully operating its three owned cultivation facilities, the company has established 10 contract grow agreements spanning 10 cultivation facilities growing and producing Gage and Cookies branded products. In light of these exciting developments, Gage has achieved over 1,000 pounds of cannabis flower production for the month of January 2021 and the number is expected to grow to 3,000 pounds a month by June 2021. The number could potentially ramp up to over 5,000 pounds on a monthly basis by the end of 2021.
Gage Growth is also backed by Jason Wild of JW Asset Management, a widely recognized premier investor in the cannabis sector. Jason Wild was notably an early investor of some of the largest cannabis companies including Canopy Growth and TerrAscend. JW Asset Management, a US$2 billion fund where Jason Wild is the president, has averaged 27 percent annualized returns for over 20 years. With strong support from JW Asset Management, Gage’s world-class management team brings years of experience in capital markets, regulatory affairs and cannabis markets.
Gage Growth’s Company Highlights
- Currently operates seven provisioning centers (dispensaries), and plans to have 20+ open and operational by year end.
- Operates three owned cultivation facilities today in addition to entering into 10 contract grow agreements spanning 10 different facilities, boasting a monthly production capacity of 3,000 lbs/month by June 2021.
- Gage is the exclusive brand partner of Cookies in Michigan, one of the most well-respected cannabis lifestyle brands in the United States.
- Average basket size of Gage retail customers was US$164 in 2020 compared to the state average basket size of US$85 — almost double the state average.
- Gage operates two Cookies branded dispensaries: the 8 Mile Cookies location in Detroit and the Kalamazoo Cookies location.
- Gage recently completed its Regulation A, Tier 2, equity financing, raising a total of US$50 million at US$1.75 per share.
- Offers premium product SKUs, exclusive brand partnerships and high-quality products, which all contribute to the company’s exceptional growth potential since its inception.
- Gage announced an exclusive partnership agreement with multi-platinum-selling, GRAMMY® Award and Golden Globe® Award-nominated recording artist Wiz Khalifa’s brand, Khalifa Kush (“KK”).
- The company entered into an exclusive five-year partnership agreement with Pure Beauty
- Gage added two provisioning centers (dispensaries) located in Flint and Burton, Michigan
- Terrascend Corp. and Gage Growth Corp. have entered into a definitive arrangement agreement pursuant to which Terrascend will acquire all of the issued and outstanding subordinate voting shares of Gage.
Gage Growth’s Key Projects
Provisioning Centers
Gage currently has three licensed cultivation and processing facilities serving seven provisioning centers (dispensaries) throughout the state of Michigan. This has enabled widespread exposure to the entire Michigan cannabis market. It intends on expanding its provisioning operations with plans to operate 20+ locations by the end of 2021.
The company is committed to providing elevated cannabis offerings. The company grows its plants in small batches using 100 percent hydroponic cultivation methods for sustainable and responsible operations. This high-quality, low-cost, indoor production method allows the company to operate at scale.
Premium Retail Brand
Gage currently has seven operating storefronts with more on the way. Managing the retail process ensures highly curated customer experiences, highly trained staff and premium service.
Gage and Cookies branded retail locations offer a variety of cannabis products to maximize its exposure to strategically targeted markets in Michigan. Likewise, well-positioned retail locations provide the company with coverage of 90 percent of the population being within a one hour drive from a location, with plans for expansion nationwide. The company expects to have over 20 stores operating by the end of 2021.
Gage Growth’s Management Team
Bruce Linton — Chairman
Bruce Linton is a foremost pioneer in the global cannabis industry and was the former CEO and chairman of Canopy Growth Corp. He holds unparalleled strategic and capital markets support and extensive executive and board experience in a variety of related industries.
Fabian Monaco — CEO & Director
Fabian Monaco has over ten years of experience in capital markets, investment banking and legal operations. He also has extensive advisory experience in the cannabis industry and has previously worked at XIB Financial Inc, GMP Securities L.P., and Scotiabank.
Mike Finos — President (USA) & Director
Mike Finos has over 20 years of operations leadership experience in various industries, including supply chain, manufacturing and information technology. Fino was the former COO at Horizon Global and has an extensive start-up, business integration and M&A experience with both private and publicly traded companies.
David Watza — Chief Financial Officer
David Watza is an experienced financial executive with over 20 years of experience. Prior to joining Gage, Watza was the President and Chief Executive Officer of Perceptron, Inc., a Michigan-based industrial automation company with subsidiary operations throughout the world, from November 2016 until November 2019. He served as a Board Member of Perceptron from June 2018 to November 2019, and Chief Financial Officer of the company from October 2015 until November 2016.
Michael Hermiz — Co-founder & Director
Michael Hermiz is the founder of a federally licensed producer in Canada and is the founder of Gage. He has succeeded in various industries, including the mortgage and real estate industry, the import/export industry and the telecommunications industry.
Quantum 1 Cannabis
Creating Value-Added Customer Experiences in British Columbia
Overview
Quantum 1 Cannabis CEO Russ Rossi: Increasing Customer Base and Eroding the Cannabis Black Market youtu.be
Positive shifts in the North American cultural perception of cannabis use are leading to rapid economic growth amongst licensed cannabis retailers. Sales of cannabis products from licensed retailers in British Columbia, Canada, alone rose from C$4.2 million in June 2019 to C$29.4 million in June 2020. Things are also looking up in the US, as the Biden presidency is expected to be positive for cannabis.
Quantum 1 Cannabis (CSE:QQ) is a premier cannabis retailer based in British Columbia. Focused on delivering value-added customer experiences, premium products and unparalleled service and education, this revenues generating business model primes the company for immense success as a leader in the BC cannabis market. Quantum 1 currently holds six retail licenses.
The company currently has strategic positioning in the booming BC cannabis market. In 2020, the company recorded C$2,475,000 in revenue. It forecasts revenue of C$8,875,000 in 2021 and C$26,500,000 the following year.
Quantum 1 leverages the support and resource networks of its parent company, Quizam Media, a media company focused on training in the cannabis space that pivoted to the retail market. Years of specialized educational success working with Fortune 500 companies worldwide primed the company to begin producing cannabis learning videos for the BC Liquor and Cannabis regulation Branch (LCRB) when Canada saw the legalization of cannabis in 2018.
“And getting into cannabis training, we came across an opportunity to pivot into cannabis and we found ourselves with six retail licenses, which are hard to get in British Columbia. Using our expertise and management to supercharge a company like this, I mean, there’s certain aspects of the retail play, that require management, tracking, computerization training, those are things that are in our wheelhouse, very, very simple to do,” commented Quantum CEO Russ Rossi when discussing Quizam’s shift to retail cannabis.
Quantum 1’s mission is to be a retail cannabis industry leader with a unique offering for consumers and partners that is energizing, educational and, above all, an exceptionally positive experience. The dedicated team of passionate educators provide customers with best practices and cannabis expertise but also an added learning angle that works to help demystify cannabis as it was once taboo topic.
Quantum’s 12 month plan includes opening up additional centers as part of a province-wide expansion plan. The company has recently acquired a new location in Vancouver and is looking to expand further in addition to its five existing BC retail locations.
Quantum 1 Cannabis’ management team combines years of expertise in cannabis markets, education and retail success. It’s background with Quizam primes the company for substantial economic prosperity and presents an entry opportunity valuation for investors seeking exposure to the next wave of cannabis stock and growth.
Quantum 1 Cannabis’ Company Highlights
- Quantum 1 Cannabis is a premier cannabis retailer based in British Columbia, Canada. Leveraging the booming markets and positive cultural trends towards cannabis use primes the company for economic success.
- Its parent company Quizam Media offers a unique advantage with its background in cannabis education and emphasis on learning. This angle provides Quantum 1 customers with a value-added retail experience.
- In 2020, the company reported C$2,475,000 in revenue. It forecasts revenue of C$8,875,000 in 2021 and C$26,500,000 the following year.
- Quantum currently has six retail licenses with plans to expand its retail center operations in the near future.
Quantum 1 Cannabis’ Premium Retail Brand
Quantum 1 Cannabis currently has 6 retail licenses throughout the highly active cannabis markets of British Columbia. The company’s specialized background in cannabis education and support from parent company Quizam primes it for rapid expansion and economic growth.
The company promotes an elevated retail experience to maximize its exposure to strategically targeted markets in BC with premium selections of cannabis products including candies, creams, drinks and more. Its core values emphasize positive connection, value-added customer experiences and learning. The well-curated business model positions Quantum as a serious player in a growing cannabis industry.
Quantum 1 Cannabis’ Management Team
Russ Rossi — CEO, President, Founder & Director
Russ Rossi is the founder and current CEO of the Quizam Media Group. He brings over 20 years of experience as an entrepreneur and industry leader in technology, media and retail. Russ was born and raised in Vancouver, British Columbia. Upon graduating from the University of British Columbia he set out to embrace his entrepreneurial spirit pioneering one the first video based dating services. He has also founded and grown several companies worldwide including a cellular phone accessories company, a chain of computer training schools, a Hollywood production company, an online corporate training portal, a major courier company for Amazon in the UK and a chain of cannabis stores in BC. Russ is also an avid computer coder, a pilot, an actor and a movie producer. Russ is not only the company’s visionary but also the strategic captain who focuses on execution and action.
Michael Skellern — Director
Michael Skellern is a global business leader with more than 20 years of executive management experience and leadership in private and public international companies as a Chief Executive Officer, Chairman and Board Member. He has an established worldwide network of senior government and business leaders. Mr. Skellern has developed companies in 14 countries across Europe, Middle East, Asia and North America. His business experience spans the aviation, automotive, construction, defense, energy, maritime, media, security, real estate and technology sectors.
Stephan Alexander — Director
Stephen Alexander graduated from the College of Law in London, and was admitted as solicitor in 1975. Founder of Class Law Solicitors, London, UK, and has provided legal counsel for high profile cases that have received media attention. Mr. Alexander is widely experienced in all aspects of corporate, commercial and international work with a special interest in protecting shareholder’s rights in public companies. In addition, Mr. Alexander works as a consultant with a well established international law firm, Lee Lanes Solicitors. Mr. Stephen Alexander will provide legal counsel in corporate finance, loans and investments and strategically position Quizam in the European market while forming alliances with foreign governments.
Jim Rosevear — Director
Jim Rosevear is an accountant and holds a diploma in Hospitality and Tourism Administration from the British Columbia Institute of Technology. Mr. Rosevear has experience in private practice accounting and financial management in the hospitality industry. He was an accountant for On-Track Corporate Training Ltd. (a Quizam Media Corp. Subsidiary).
David Lee — Director of Business Development
David Lee brings with him 15 years of experience in business development, marketing, investor relations and strategic planning. A graduate of Kwantlen Polytechnic Universities’ Business School, David started his career off in the telecommunications sector in firms specializing in research and development for products and services. He also brings a wealth of experience in the retail sector, overseeing 150 locations. David’s primary role is to focus on Quizam Media’s global strategies and execution. He has a keen eye for identifying talent and is driven to ensure the growth of all business units.
HempFusion Wellness
Developing Full and Broad-Spectrum CBD Hemp Extract Production for the Consumer Markets
Overview
HempFusion Wellness Inc. (TSX:CBD.U,OTCQX: CBDHF) is a Colorado-based premium wellness company specializing in full-spectrum CBD hemp extract distribution and development, with a focus on the rapidly growing US cannabis market. The company is focused on providing innovative and diverse proprietary formulation using the power of whole-food hemp nutrition and marketing premium consumer-specific product lines across multiple distribution platforms. HempFusion is now expanding its distribution beyond its natural and e-commerce channels into doctor and practitioner networks, convenience and food-drug mass and big box retailers.
Using a proprietary Whole Food Hemp Complex™, the company offers an array of dietary supplements, including hemp-based cannabidiol (CBD), OTC topicals, capsules and other high-quality CBD products. These over 46 products are manufactured under cGMP standards designed to attain efficacy and safety and contain a broad spectrum of cannabinoids and other constituents sourced from quality phytocompounds.
With a strong background in research and development, HempFusion is at the forefront of health and wellness in the rapidly growing CBD industry. Positioned for growth, the company distributes its family of brands to approximately 4,000 retailers across 47 US states, with plans for further international expansion.
In 2020, the company began conducting the Human Safety Study for liver toxicology and completed the NOAEL Safety Review for all topicals with Self GRAS Affirmation pending. They currently have 30 products under development, including additional OTC Drug Listed Ingestibles.
HempFusion is one of the few companies marketing FDA Drug Listed Topicals in compliance with all FDA regulations. Understanding the uncertainties of an emerging industry like CBD, HempFusion is working with twelve other CBD companies to conduct a study addressing FDA concerns regarding CBD products and human safety.
Invested heavily in regulatory compliance, HempFusion prioritizes safety, quality and consistency while aiming to exceed the high standard required by retailers and consumers. This is demonstrated in the company’s U.S. Hemp Authority Certification and status as a board member of the U.S. Hemp Roundtable, an organization committed to advancing safe hemp and CBD products.
The company’s rigid approach to regulatory compliance and best practices has favorably positioned them to enter major retail, food and drug markets that are not open to other CBD companies.
With an international expansion in their sights, HempFusion CBD and Probulin Probiotic product lines are projected to be sold across Europe, distributing to Ireland and the UK first. Additionally, the company already has purchase orders for Probulin Probiotics in the Middle East, South Korea, China, Mexico, and India.
In terms of domestic prospects, the company is well on their way to getting picked up by other major vendors and has their sights on becoming a top brand in the U.S. With the recent partnership with pro snowboarder and filmmaker Travis Rice, they hope to see more brand recognition amongst target audiences. The significant time and capital invested in HempFusion’s compliance provide the company with a competitive advantage in the expanding CBD sector, which is projected to reach $16.8 billion by 2025.
As of June 2020, HempFusion Wellness reported 1,750 shareholders and $18.3 million in cash with no debt. With the second-largest cash position in the sector, the company is gearing up for a direct IPO onto the Toronto Stock Exchange senior board, where it has reserved ticker symbol CBD.U.
HempFusion’s management team holds extensive experience in public markets, finance, legal, CPG and M&A. This world-class leadership has been crucial in driving the company’s business plan forward and primes them to expand their strategic networks and revenue opportunities. Potential channels could include natural medicine, e-commerce, big box, convenience, doctor practitioner and healthcare.
HempFusion Wellness Company Highlights
- Premium wellness company focused on providing innovative and diversified proprietary formulation using the power of whole-food hemp.
- Armed with world-class research and developmental processes, the company is prepared to market its premium CBD product lines across multiple distribution platforms.
- Offers a wide variety of CBD products that contain a broad spectrum of panoramic hemp extract, including liquids/tinctures, capsules, travel pouches and OTC topical products.
- Key partnerships with Verdant Oasis and Probulin Probiotics Co. has strategically positioned the company for international expansion into European markets and medicinal distribution networks.
- As of June 2020, HempFusion Wellness holds the second-largest cash position in the CBD sector, with over $18.3 million in cash and an estimated 1,750 shareholders.
- In May 2021, the company entered into a Purchase Agreement to acquire 100 percent interest in APCNA Holdings LLC (“Apothecanna”), a pioneer in cannabis-powered body care and topicals and an industry leader in the development of innovative, all-natural CBD products.
- Hempfusion completed the acquisition of Sagely Enterprises Inc. (“Sagely Naturals”), a leader in premium CBD products with mass distribution in more than 14,000 retailers nationwide.
- Alibaba Group Holding’s Tmall Global (“Tmall”) received conditional approval to launch HempFusion’s CBD products on Tmall, the world’s largest cross border online marketplace.
HempFusion Wellness Key Products
HempFusion champions compliance and customer safety and is one of the few CBD companies approved to market FDA Drug Listed Topicals. The compliance with FDA regulations and standards ensure that these products meet the standards set by larger national retailers. In terms of compliance with international regulations, all of HempFusion’s products are made from DNA-verified, non-GMO, organic industrial hemp that has been registered in the European Union, which has a rich history spanning across decades of hemp cultivation.
HempFusion OTC Topicals
HempFusion offers a wide selection of over-the-counter (OTC) topicals that remedy condition-targeted ailments. With a focus on pain relief, skin-care and wound care specifically, clinically tested botanical complex and broad spectrum panoramic hemp extract sets HempFusion apart from other competing products on the market.
With a projected expansion into doctor and practitioner channels, HF and Biome Research product lines have shown great interest amongst integrative medical doctors and licensed chiropractors. This enthusiasm has created a higher potential for CBD companies like HempFusion to enter into these healthcare spaces early.
The company could see great success in these well-established markets. The global pain relief and dermatitis market for topicals is projected to reach $13.3 billion and $13.6 by 2026, respectively. Additionally, in 2019, the ten top-selling first aid and wound healing ointments generated over $650 million in sales in the US alone.
HempFusion CBD Product Line
With a commitment to innovation and providing premium wellness to consumers, HempFusion has created a wide variety of CBD products, including CBD liquids, capsules, travel pouch, topicals.
In partnership with Verdant Oasis, the company has exclusive access to high-quality organic European CBD oil for its CBD Tinctures. In harmony with lab-formulated whole food hemp complex, these tinctures utilize broad-spectrum DNA-verified hemp, broad-spectrum CBD and a wide array of critical compounds to create a premium product.
Today, only 15 percent of CBD penetration is seen in US households. With their multiple revenue avenues and expansion plans, HempFusion has adopted a multi-channel approach to maximize consumer and clinical reach and fill gaps in the market. The key partnership with Probulin Probiotics has opened networks into the natural health industry and retail distribution, with products addressing a wide array of consumer needs.
Along with potential roll out into big box stores, e-commerce has the potential for successful launch through convenience channels. This gateway strategy is intended to allow the company to establish, develop and build relationships among these retailers, potentially accelerating access to their CBD products in the future.
HempFusion Wellness Management Team
Jason Mitchell, N.D – Co-Founder & Co-CEO
Jason Mitchell, N.D., designs nutritional health products for humans. From an early age, he was grafted into the natural products industry. Fresh out of college, he started building one of today’s leading vitamin companies, and in the process, designed and launched more than 300 dietary supplements and related products to the market. Today, he is the co-founder of Probulin and HempFusion, two leading brands in their categories with the potential to disrupt the industry. He is a Naturopathic Doctor board certified by the American Naturopathic Medical Certification Board and a Board Member for the US Hemp Roundtable.
Ian Dequeiroz – Co-Founder & Co-CEO
Ian Dequeiroz is a serial entrepreneur with extensive experience in early-stage cannabis and hemp companies. In 2010, Dequeiroz acquired the first cannabis CO2 extraction company in the US and facilitated companies’ licensing process in numerous major cannabis markets, including; Jamaica, Illinois, New York, Nevada, and Washington. Dequeiroz was the founder of multiple cannabis companies including, Epican Medicinals Ltd., one of Jamaica’s premier cannabis companies.
Jon Visser – CRO
Jon Visser has over 25 years of experience in all areas of sales and marketing, with a proven track record of consistently driving growth across all major channels. Visser was previously the Senior Vice President of Sales at Navajo Inc., a multinational manufacturer/distributor of brands like Pennzoil Automotive Supplies, Piranha Eyewear, and Navajo Inc., the largest distributor of trial- and travel-sized health and beauty products in the United States. Visser grew annual sales from $60 million to $128 million in less than three years while at Navajo Inc.
Maria Leal – CFO
Ms. Leal holds a CPA and an MBA and has a strong track record in financial management having served in various senior financial accounting positions during her more than 20-year career. Ms. Leal has been with HempFusion since July 2019 and has been instrumental in all financial reporting aspects for the Company.
Ola Lessard – CMO
Ola Lessard brings years of experience in the CBD and hemp industry and is also the President of the U.S. Hemp Roundtable. With experience in marketing creative and effective brand strategies, Lessard has held Vice President of Marketing’s position at Barlean’s, an award-winning supplements provider based in Washington.
Nancy Angelini – Director of the Doctor/Practitioner Channel
Nancy Angelini has over 25 years as an active, licensed practitioner. Angelini travels the country as a lecturer and product manager. She is responsible for opening doors to some of the largest doctor/practitioner networks in the United States.
Daniel Brody – CCO
Daniel Brody is the co-founder and former Vice President of The Green Organic Dutchman Holdings Ltd. Brody has been instrumental in listing multiple world-class cannabis companies, including TGOD, Emblem Corp. and Plus Products Inc. Before joining the cannabis industry, he spent seven years working at two leading Canadian brokerage firms.
Sixth Wave Innovations
Nanotechnology Using Molecularly Imprinted Polymers (MIPs) With Multi-Market Applications
Overview
Sixth Wave Innovations (CSE:SIXW,OTCQB:SIXWF,FSE:AHUH) is a nanotechnology company that uses patented Molecularly Imprinted Polymers (MIPs) for detecting, capturing and purifying substances at the molecular level.
MIPs are synthetic polymers uniquely designed to capture and extract target materials from a background of other materials by a combination of engineered electrochemical methods to attract the materials to the polymer and templating or creating a pocket in the polymer that has the physical size and shape of the target material to ensure that only those materials are captured. Systems utilizing MIPs are developed and owned completely by Sixth Wave Innovations with multiple patented/patent pending protections in over 40 countries worldwide. With massive expertise in the chemical industry and broad vertical patents, there are huge market implications for commercial scaling and revenue opportunities.
Sixth Wave Innovations captures several verticals that can appeal to multiple industries and market segments. The most notable sectors include health and wellness and mining. Sixth Wave Innovations’ patented purification and extraction systems, including Affinity™ for cannabinoid purification and IXOS® for mining, have unique MIPs designed for each sector and individual end-users. These solution offer savings in capital expenditures and operating costs as well as higher yields affording Sixth Wave Innovations’ customers substantial upticks in profitability. This translates into the potential for more efficient and effective extraction that is more stable, less expensive and yields a purer and cleaner end product. Sixth Wave Innovations’ solutions also provide unlimited scalability, which is a challenge with current technology.
For example, this has made the company poised to replace antiquated traditional extraction methods in the cannabis production and gold mining sectors, delivering process improvements, cost savings and higher yields. With the Affinity™ extraction system, Sixth Wave Innovations has gained international interest with inquiries for installation from licensed cannabis producers for over 250 units.
This technology replaces traditional methods of purification including winterization, multipath distillation, decarboxylation, and chromatography, which involves excessive plant footprint allocation, complex instrumentation with a slow turnaround, and significant product loss. Affinity™ technology can reduce this product loss and lead to higher purity of THC and CBD while providing a simplified streamline of the traditional process of extraction at an eighth of the cost.
For gold mining, Sixth Wave Innovations has created patented technology for the isolation and separation of gold and silver. While traditional extraction methods involve activated carbon, Sixth Wave Innovations’ IXOS® is extraction based on MIPs. IXOS® offers a number of advantages over activated carbon including, lower CAPEX/OPEX, lower energy consumption, six times faster elution and recovery, higher precious metal recovery due to higher efficiency and lower attrition. This is significant as gold prices continue to rise amidst a global pandemic. Sixth Wave Innovations has repeatedly demonstrated with on-site pilot testing that it can add approximately USD$125/oz to its customers bottom line and expects its portion, based on its sales model, to be approximately 30% of that savings leaving a total revenue opportunity for Sixth Wave Innovations of USD$4.7 billion per year. With this market opportunity even modest market penetration could push the Company to a billion dollar valuation.
Sixth Wave Innovations’ MIPs also have the potential for use in medical applications, including re-thinking Personal Protective Equipment (PPE) and the detection of viruses like COVID-19. Through the development of a rapid virus detection platform using MIPs, testing could be made available through point-of-use screening at high volume, and PPE could be enhanced in its protective capabilities.
Through partnerships with NeoCon International, Centre Technologique des Résidus Industriels (CTRI) and The Natural Sciences and Engineering Research Council of Canada (NSERC), Sixth Wave Innovations is in development of both point-of-care tests and their Smart Mask™, the incorporation of virus detection technology in both N95 compliant and other masks. Moreover, since virus detection utilizing Sixth Wave Innovations’ technology will allow virtually instantaneous detection via colorimetric or electronic detection, Sixth Wave Innovations will be able to seamlessly provide integration into contact tracing systems,. Proof of concept is expected by the end of 2020, and commercialization through global rollout is planned for 2021.
Sixth Wave Innovations Company Highlights
- Sixth Wave Innovations is a nanotechnology company that uses patented Molecularly imprinted Polymers (MIPs) for detecting, capturing, and releasing substances at the molecular level.
- Proof of concept of Smart Mask™ is expected by the end of 2020, with a global rollout of AMIPS rapid virus detection planned for 2021.
AMIPS technology could be implemented for less than C$5, with the ultimate goal of the project to apply this platform or technology to new viral threats quickly and at mass-production levels. - Systems are developed and owned completely by Sixth Wave Innovations and protected with patented/patent pending in over 40 countries worldwide.
- Sixth Wave Innovations’ IXOS® extraction based on MIPs targets specific molecules in the desired metal, eliminating the need for regeneration, which is faster, less expensive and can yield higher purity gold with the potential for more capacity.
Affinity™ technology can reduce product loss and lead to higher purity of THC and CBD while providing a simplified streamline of the traditional process of extraction at an eighth of the cost. - With extraction system Affinity™, Sixth Wave Innovations has gained international interest with inquiries for installation from cannabis producers from over 250 units.
- Sixth Wave Innovations also acquired 100 percent of the outstanding common shares of Geolithic Corp, which was established in January of 2017 as a joint venture between TriLateral and Sixth Wave to exploit the latter’s technology for the extraction of lithium from geothermal brines located primarily in the Salton Sea area of California.
- Sixth Wave Innovations also engages Alberta Center for Advanced MicroNanotechnology Products (“ACAMP”) to integrate Radio Frequency (“RF”) technology with the company’s Accelerated Molecularly Imprinted Polymer (“AMIPs™”) virus detection technology, to create smart prototypes such as the company’s proposed SmartMask™
Sixth Wave Innovations Key Technologies
AMIPS: MIPs for the Rapid Detection of Viruses
In response to the global pandemic, Sixth Wave is developing a rapid single-use test can detect SARS-CoV-2 easily and on-site within seconds. Past the immediate COVID-19 threat, the ultimate goal of the project is to produce a rapid response capability so that the AMIPs technology can be utilized to address other existing and emerging viral threats.
The proposed platform would involve the detection of infection through electronic (such as radio frequency identification – RFID), colorimetric, or fluorometric methods. Here, a test strip would be exposed to breath or bodily fluid, and a simple binary (yes/no) test would rapidly indicate the presence or absence of the virus. The test would allow for high volume, point-of-use screening in the public sector, private industry, hospitals, long -term healthcare facilities, and various forms of public transportation. As a completely synthetic test there are no bottlenecks in production and no need to harvest antibodies which are still grown in animals that must be sacrificed.
Ongoing research could also lead to huge potential changes for testing styles, accuracy in the detection of antigens and viruses and how this technology can be applied to real-world situations. With implementation costs for this technology being as low as C$5, masks could help businesses/schools identify exposures visually or detect ongoing infection for lengths of time.
In early 2020, Sixth Wave partnered with NeoCon International and is currently in development of Smart Mask™, the incorporation of AMIPs for rapid virus detection into an N95- compliant, or other mask/respirators. This technology will provide enhanced protective capabilities of a mask with added interactive capability of alerting the user of the presence of the target virus in their exhaled breath.
Proof of concept of Smart Mask™ is expected by the end of 2020, with a full global rollout planned for the middle of 2021.
Sixth Wave Innovations Management Team
Jon Gluckman — President, CEO & Director
Jon Gluckman brings a 25-year track record of innovative, technology-driven achievements to his role as President of Sixth Wave. As founder and CEO of Integrated Dynamics, a government engineering services company since 1996, Dr. Gluckman focused on the development and subsequent transition of advanced technologies into commercial applications. As the leader of 6th Wave since 2012, Dr. Gluckman has concentrated his efforts to complete IXOS®, in the metals processing industry. Dr. Gluckman holds a Ph.D. from the University of Cincinnati.
Sherman McGill — Executive VP & CDO
Sherman McGill is a seasoned sales and business development executive with a documented track record of developing and closing multi-million dollar development programs (R&D), product sales and training services to high profile US and international customers. McGill is spearheading business development efforts to lead Sixth Wave into becoming one of the world leaders in Molecular Imprinted Polymer (MIP) nanotechnology.
Aristotle Kalivretenos — CSO
Aristotle Kalivretenos is responsible for new product development and commercialization of Molecularly Imprinted Polymers (MIPs) for Life Science Applications, including pharmaceuticals, natural products, food safety, healthcare and drug detection. Kalivrentenos performed a postdoctoral fellowship focusing in the CNS area at Columbia University after earning his Ph.D. in organic chemistry from Colorado State University and a BS in chemistry from Clemson University.
John Cowan — COO
John Cowan started his career as an engineering craft apprentice and additionally gained many years of relevant college education including a BS Honors Degree in Mechanical Engineering, Cowan progressively used his education and experienced gained from over 25 years with the Eaton Corporation in Europe and the USA to contribute in all levels of leadership within the operations engineering and quality disciplines.
Dr. Garrett Kraft — Vice President of Innovations
Dr. Kraft has been with Sixth Wave since July 10th, 2017 and is spearheading multiple initiatives in the Company, including the development of the Company’s AMIPs product for pathogen detection, including the SARS-CoV-2 virus, and managing the companies Intellectual Property portfolio. Dr. Kraft earned his Ph.D. from the University of Connecticut in Polymer Science and has over a decade of polymer synthesis experience. Dr. Kraft is named as an inventor on many of Sixth Wave’s patents since joining the company.
Peter Manuel—Interim Chief Financial Officer
Mr. Manuel brings over 30 years of financial management experience, having spent 17 years in public practice as a chartered accountant and 12 years as Chief Financial Officer of Ucore Rare Metals Inc. Mr. Manuel will continue in his role as Director of Sixth Wave, in which he has served since January of 2020.
Sokhie Puar—Board of Directors
Mr. Puar, with over 30 years in the public markets, has worked in various capacities in both public and private companies in a variety of sectors, including mining, oil and gas, technology, education and clean energy. Most recently, Mr. Puar held the positions of CEO, Chairman and Director of Candelaria Mining Corp. from February 2012 to September 2017. During his tenure, Candelaria Mining Corp. raised in excess of $28 million and acquired several mining projects in Mexico. Mr. Puar is currently the Lead Director of Else Nutrition Holdings Inc., a company which he helped go public. Since going public in June of 2019, Else Nutrition has raised over $41 million. Mr. Puar also sits on the board of Adcore Inc., a technology company in the digital advertising space.
Dr. David Fransen — Board of Directors
Dr. Fransen has served on the Company’s Advisory Board since June of 2020. Dr. Fransen’s career spans 40 years in various roles including senior executive positions in government, academia and the diplomatic corps. Dr. Fransen has provided strategic leadership across a wide range of economic policy and program sectors as a senior official at the Privy Council Office and Health Canada, as an Assistant Deputy Minister at Industry Canada, as the first Executive Director of the University of Waterloo’s Institute for Quantum Computing, and as Canada’s Consul General in Los Angeles.
AgriFORCE Growing Systems
AgriFORCE Growing Systems Ltd is dedicated to transforming modern agricultural development through its proprietary patent-pending facility design and automated growing system. Its methods are designed to produce high-quality, pesticide-free, locally cultivated crops, cost-effectively and with the ability to quickly scale, in virtually any climate.
Lobe Sciences
A Leader in Transformational Medicine
Overview
Lobe Sciences Ltd. is a life sciences company focused on the research and development of psychedelic medicines. The Company focuses on clinical development of devices and medicines to treat neurological disorders and brain trauma. The Company’s mission is to identify and develop transformative new methods, medicines and devices to improve brain health and provide new pathways for treating brain injuries and neurological disorders. The Company undertakes the development of innovative medicines and devices to treat mental health disorders and improve well-being while building a growing a portfolio of intellectual property to protect our technologies. The Company is working to develop psychedelic compounds as therapeutics.
Psychedelics (serotonergic hallucinogens) are powerful psychoactive substances that alter perception and mood and affect numerous cognitive processes. They are generally considered physiologically safe and do not lead to dependence or addiction. NAC is a dietary supplement derived from the amino acid L-cysteine. Taking NAC increases the level of glutathione, a potent antioxidant and anti-inflammatory molecule, in cells. Glutathione’s function is to protect cellular compounds such as DNA and prevent damage to them from reactive oxygen species and inflammatory cytokines. It is also used as an antidote for acetaminophen overdose.
Studies indicate that no proven treatment modality currently exists for the sequelae/long term effects of either mTBI with PTSD or either condition alone. The Company’s vision is to administer the compounds of psilocybin and N-acetylcysteine (“NAC”) in doses that will be administered at home, the emergency department or clinic. The Company plans to develop psilocybin-based therapeutics in combination with NAC for the treatment of mild traumatic brain injuries (“mTBI”) and post-traumatic stress disorder (“PTSD”) and devices for the efficient application of these medications
The first focus is on micro-dosing psilocybin in combination with NAC for the treatment of mTBI and PTSD and other neurological disorders. Additionally, they may be paired with odorants to create memory odor imprint pairing. The second is micro-dosing MDMA, where MDMA is combined with NAC for the treatment of mTBI and PTSD and other neurological disorders. Likewise, pairing them with odorants in an attempt to create memory odor. Third, Lobe Sciences has been evaluating the development of a medical device for immediate delivery of medicines directly to the olfactory bulb[, the structure located in the forebrain of vertebrates that receives neural input about odors detected by cells in the nasal cavity, for best therapeutic outcomes. Finally, a virtual reality (“VR”) is often shown to be used in enhancing the therapeutic outcomes of patients. We are evaluating the use of a VR headset or a fully immersive pod combined with a nasal mist transducer device (“NMT”) to improve efficiency and raise response to treatment.
The Company has submitted a provisional and PCT patent applications and launched a preclinical research study to examine a strategy that combines two products for the treatment of PTSD and mTBI with PTSD. The proposal will use a well-established rodent model to test the use of a combination of NAC and psilocybin in animals that have been subjected to mild-moderate traumatic brain injury with PTSD induced through an established rodent PTSD paradigm.
Cowlitz County Cannabis Cultivation Inc., was another subsidiary of Lobe Sciences. Cowlitz, based in Washington State, is a Tier 2 licensed cannabis processor. Washington is one of the states where medical and recreational use of cannabis is legal and is one of the most mature cannabis markets in the country. As a top producer in the state, Cowlitz has a range of innovative products and brands it brings to the market. Lobe divested Cowlitz to a multistate cannabis operator called Ionic Brands.
On March 8, 2021 the company completed the sale of Cowlitz County Cannabis Cultivation Inc. to Ionic Brands Corp.
- Strengthened Lobe’s balance sheet with C$1.75 million cash on closing
- Lobe Sciences received 100,406,701 series E non-voting preferred shares of CNSX:IONC which convert on a one-to-one basis and carry an annual dividend of 13% for a period of two years
- Lobe Sciences also received 4,000,000 five year C$0.30 Ionic Brand warrants
Lobe Sciences’ Company Highlights
- Headquartered in Canada with North American Operations
- Currently developing psychedelic therapeutics as an integrated biotech company
- Therapeutic development focused mild traumatic brain injury(mTBI)and posttraumatic stress disorder (PTSD) associated with head trauma
- Lobe Sciences is currently prosecuting several provisional patents to treat PTSD or mTBI with PTSD
- Additional provisional patent for methods and compositions for treating mTBI PTSD alone with 3,4 MDMA plus NAC
- patent pending for a medical device for delivery of medicines to the olfactory bulb
- Lobe Sciences is collaborating with a multidisciplinary team of scientists and physicians from the University of Miami where Dr. Michael Hoffer is conducting a large preclinical study on the effect of the treatment of mTBI with PTSD or PTSD alone based on the combination of psilocybin and NAC
Lobe Sciences’ Future Outlook
Moving ahead, Lobe Sciences has a range of catalysts on the horizon.
The company is gearing up to conduct pre-clinical studies, which includes GLP toxicology, ADME in addition to forming and manufacturing, to file an investigational new drug application (IND). Lobe Sciences, together with its subsidiary Eleusian Biosciences, will partner with the University of Miami to conduct the study on rodents to prove the efficacy of the molecules.
With successful results following the study and regulatory approval, Lobe Sciences aims to file its IND with the US Food and Drug Administration (FDA) by March 2022 to be able to move the candidate of psilocybin and NAC into a Phase 3 Clinical Trial by July 2022 on humans for the treatment of mTBI with PTSD or PTSD alone in collaboration with investigators at the University of Miami and other clinical research institutions. The company aims to look at what proper dosing will look like with these trials.
Pending any FDA approval, Lobe Sciences will consider bringing its products to other global markets.
Lobe Sciences’ Management Team
Philip J. Young – CEO & Director
Philip Young is an accomplished CEO and innovative professional with 25 years of expertise in senior executive management and board roles, with significant mergers and acquisitions and equity financing experience. He has a proven track record in the biotech, medtech and pharmaceutical industries with expertise in dealing with FDA/regulatory frameworks as well as new device and therapeutics development. From 2015 until 2019, Mr. Young was the Founder, Chairman, and CEO of Exactus Inc. (“Exactus”), an OTCQB listed company he successfully transitioned from a medical technology company to a farming focused hemp-derived CBD company.
Prior to Exactus, Mr. Young was the president, CEO, and Director of AmpliPhi Biosciences Corp. (now Armata Pharmaceuticals Inc.), a global biopharmaceutical company. He was also previously the President, CEO and a director of Osteologix Inc., where he was responsible for directing and managing all facets of the global pharmaceutical development company. He is the former Chief Business Officer and Executive Vice President of Insmed Inc., where he directed all financing, corporate and commercial communications activities. Prior thereto, he was the Vice President and General Manager of Neurex Corp., where he was involved with the negotiations for its US$700 million acquisition by Elan Corporation. Mr. Young holds a Bachelor’s of Science from James Madison University.
Brian Zasitko – CFO
For over 13 years, Brian Zasikto has worked in a number of private and public companies in sectors such as cannabis, agriculture, manufacturing, and utility industries. Mr. Zasitko is well versed in financial reporting and corporate governance and the capital markets.
Dr. Maghsoud Dariani – Chief Science Officer
Dr. Dariani has extensive experience working with a wide range of life science companies. He is the current president and CEO of Semorex Inc., a privately held company focused on novel therapeutics for cancer. Mr. Dariani was previously the president of Focus Pharmaceuticals, Inc., where he managed the development and approval of drug products and notched an FDA approval for another clinical evaluation stage.
Jonathan Gilbert – Executive Director
Jonathan Gilbert was the founder and CEO at Tassili Life Sciences Corp., a biotech firm conducting research with psilocybin. Gilbert is also the founding CEO of Eleusian Biosciences, which Lobe Sciences acquired in June 2020, and will play an integral role in the company’s growth strategy moving forward.
Leighton Bocking – Director
Leighton Bocking has worked in the capital markets for over a decade. Primarily, his role has been as an independent corporate development consultant as well as other various director roles. Mr. Bocking has been particularly focused on financing and structuring companies.
Dr. Mark A. Geyer Ph.D – Scientific Advisor
Dr. Geyer is Distinguished Professor of Psychiatry and Neurosciences Emeritus at the University of California San Diego (UCSD) and directs the Neuropsychopharmacology Unit of the VISN 22 Veterans Administration Mental Illness Research, Clinical, and Education Center. He is respected internationally for his research on the psychophysiology, neurobiology, and pharmacotherapy of schizophrenia and bipolar disorder. Dr. Geyer’s broad experience as a researcher, grant reviewer, journal editor, and teacher lends invaluable scientific and professional expertise to several organizations, as he provides leadership to develop strong programs in the behavioral psychopharmacology and clinical applications of psychedelic agents.
Charles S. Grob, MD – Scientific Advisor
Charles S. Grob, M.D. is Professor of Psychiatry and Pediatrics at the UCLA School of Medicine. He previously held faculty positions at the Johns Hopkins School of Medicine and the University of California at Irvine. He has conducted approved clinical research with psychedelics since the early 1990s. From 2004-2008 he was the Principal Investigator of the first study in several decades to examine the use of a psilocybin treatment model for patients with advanced-cancer anxiety. He has also conducted research into the range of effects of MDMA, in both normal volunteers and in a selected subject population of adult autistics with severe social anxiety. And, he has conducted a series of ayahuasca research studies in Brazil. Over the last thirty years Dr. Grob has published numerous articles on psychedelics in the medical and psychiatric literatures and he is the editor of Hallucinogens: A Reader (Putnam/Tarcher, 2002), co-editor (with Roger Walsh) of Higher Wisdom: Eminent Elders Explore the Continuing Impact of Psychedelics (SUNY Press, 2005) and co-editor (with James Grigsby) of the recently published Handbook of Medical Hallucinogens (Guilford Press, 2021). He is a founding board member of the Heffter Research Institute.
Benjamin Kelmendi, MD – Scientific Advisor
Benjamin is a psychiatrist and an Associate Professor in the Department of Psychiatry at the Yale University School of Medicine. His primary clinical expertise is in PTSD, Depression, OCD, and the endocannabinoid system. He is the co-founder of the Yale Psychedelic Science Group. He leads a research program focused on the therapeutic potential of psychedelic medicines, across a range of psychiatric diagnoses. He is currently investigating the effects of psilocybin on the neurocircuitry implicated in the development, maintenance, and treatment of patients with OCD. He is also exploring the effects of MDMA on brain activation and neural network organization in PTSD to understand the relationship between MDMA-induced neural changes and the acute cognitive and behavioral effects of the drug.
Albert “Skip” Rizzo, Ph.D – Scientific Advisor
Albert “Skip” Rizzo is a clinical psychologist and Director of Medical VR at the University of Southern California Institute for Creative Technologies. He is also a Research Professor with the USC Dept. of Psychiatry and School of Gerontology. Over the last 25 years, Skip has conducted research on the design, development and evaluation of Virtual Reality systems targeting the areas of clinical assessment, treatment, and rehabilitation across the domains of psychological, cognitive and motor functioning in both healthy and clinical populations. This work has focused on PTSD, TBI, Autism, ADHD, Alzheimer’s disease, stroke and other clinical conditions. He has also driven an extensive research program on the use of intelligent virtual human agents for clinical training, healthcare information support, and clinical assessment. In spite of the diversity of these clinical R&D areas, the common thread that drives all of his work with digital technologies involves the study of how Virtual Reality simulations can be usefully applied to human healthcare beyond what’s possible with traditional 20th Century methods.
Ilan Hayman – Advisor
Ilan has played a pivotal role in the General Management of healthcare businesses including a private cosmetic surgery chain and the commercialisation of a breakthrough skincare range. He successfully led the development of these products from concept through to production commercialization. Most recently Ilan oversaw a group of national medical centers. His career into operations management was triggered by his valuable experience as part of the Risk and Controls Solutions practice at PricewaterhouseCoopers (PwC). Specifically, Ilan’s passion is assisting the medical fraternity in their practice management and business administration functions. Ilan’s ambition is to work in a role that utilises his analysis expertise enriched by his exposure to the commercial side of business. Ilan has a passion for assisting community organizations and sits on several boards of not for profit organizations. He also holds Bronze and Silver Duke of Edinburgh awards and brings along a unique set of community and industry related experience.
Bart Oates — Advisor
Bart Oates Esq. is a three-time Superbowl Champion, who graduated magna cum laude with a Juris Doctor degree from Seton Hall during his off season. Prior to his NFL career, he earned a BS in Accounting from the Marriott School of Business at BYU and was inducted into their athletic Hall of Fame in 1992. Bart was selected to five Pro Bowls during his NFL career and to the UPI All-NFC team three times. Bart is now the President of the NFL Alumni Association which offers former players a diverse package of medical, business, and legal services to help keep them and their families healthy, productive, and connected to their former teammates.
Gilberto Jesús Mendoza – Advisor
Gilberto Jesús Mendoza is currently the President of the World Boxing Association. Mr. Mendoza began his career as a lawyer and an engineer and has been working with the WBA since 2015. His priority has always been to give opportunities to the most vulnerable regions of the world. He has spent time in close contact with athletes since he was a child and has actively participated in the intention to rescue amateur boxing. Mr. Mendoza is the proud creator of “Un Solo Boxeo” (Only One Boxing), a program that promotes the integration of professional boxing. He also created the Future WBA Champion, a project that has given space to thousands of boxers in their preparation stage for the Tokyo Olympic Games. Mr. Mendoza’s goal is the growth and development of boxing, as well as its adaptation to change.
Matica Enterprises
Supplying Quebec’s Self-Medicating Cannabis Market
Overview
Matica Enterprises Inc. (CSE:MMJ,FWB:39N,OTCQB:MMJFF) is a licensed cannabis producer operating in Quebec, Canada. Matica is targeting the self-medicating cannabis and recreational markets by providing high-quality cannabis flower. The company also has its sights on obtaining a license to extract oil, so as to develop distillate and oil-based products. Matica intends to produce proprietary time-released topicals for the pain management market.
Matica is able to develop these products through their partnership with Yunify Natural Technologies, a Quebec-based health and personal care research and innovation technology company. In collaboration with Yunify, Matica is working towards developing a proprietary odor-neutral time release formula and topical creams for individuals looking to self-medicate and manage their pain, among other ailments. Together, the companies have recently announced its first proprietary product, a cannabis odor neutralizer that can be used as a personal spray. The companies are also developing a room deodorizer and topical creams.
Matica also has a 70 percent interest in RoyalMax Biotechnology Canada Inc.’s 10,000-square-foot cultivation facility in Dorval, Quebec. The licensed and operational facility is anticipating the approval of its sales license within the next year. The facility is currently operational and has completed two harvests to date.
Matica’s second, wholly-owned cultivation property boasts 181 acres of farmland in Hemmingford, Quebec, which is an hour south of Montreal. The property is ideally located and has the support of the local community. Matica will be building out five 200,000-square-foot greenhouses in stages for a combined production space of one million square feet. Phase 1 construction on the first greenhouse is currently underway. Additionally, the company has allotted approximately 30 acres of tilled land for outdoor growing.
To capitalize on the upcoming edibles market, Matica has acquired Trichrome Treats Inc. Trichrome and RoyalMax are expected to develop a full-range of adult-use cannabis-infused products, such as edibles and beverages. Initially, Matica intends to focus primarily on the chocolate and confectionary market.
Company Highlights
- Low power costs associated with growing cannabis in Quebec.
- Access to a $20 million equity facility from Alumina Partners.
- Yunify partnership facilitates the development of topical creams, among other products for the self-medicating market.
- The Dorval facility has a cultivation license and Matica has completed two harvests at the facility to date.
- The Hemmingford property covers 181 acres of wholly-owned farmland with farming infrastructure in place.
- Construction is underway on first of five 200,000-square-foot greenhouses.
- Potential of one million square feet of indoor growing space once construction is complete.
- Approximately 30 acres allotted as outdoor growing space.
Cannabis Production in Quebec
Deloitte is predicting that cannabis sales in Canada will generate up to $7.17 billion in 2019. While targeting the Canadian cannabis market, Matica is able to get a strong foothold in Quebec, Canada’s second largest province by population. In Quebec alone, the recreational market is expected to generate between $420 million and $1 billion in sales.
Compared to other provinces in the country, Quebec has issued a relatively low number of licenses, having granted them to only 15 companies. However, Quebec remains an attractive location for growing cannabis as the province offers some of the lowest energy costs in the country and a strong pool of land, labor and technical expertise. Additionally, the provincial government has expressed interest in supporting local growers and producers, giving established cannabis companies an advantage over their peers from other provinces.
Dorval facility
In March 2017, Matica acquired a 70 percent interest in RoyalMax Biotechnology Canada Inc.’s 10,000-square-foot cultivation facility in Dorval, Quebec. Matica supplied the funding and building materials required to build out the facility, which is now complete. Additionally, the Dorval facility has received its cultivation license and is one of 15 licensed cannabis facilities in Quebec. Matica is working towards obtaining a sales license for the property, which they expect to receive within the next year.
Matica intends to supply the cannabis market with high quality cannabis flower from this facility. Its proximity to the international airport in Montreal and Highways 20, 520 and 13 provide Matica with the ease of distributing their cannabis products throughout Canada and internationally.
Soon after receiving its cultivation license, the facility received its rooted starting materials in January 2019 and a second shipment in February. The plants were quickly planted and Matica completed its first harvest in May 2019. The company completed a second harvest the following month. Matica expects its fully-operational facility to annually produce one million grams of cannabis. The facility will work on a rotating schedule that allows for harvests every two to three weeks.
Hemmingford facility
Matica has also secured 181 acres of farmland on the South Shore, Quebec, in an area known as Les Jardins du Québec, an hour south of Montreal. Les Jardins du Québec is a microclimate that receives over 1,800 effective growing degree days, as reported by Agriculture and Agri-Food Canada, and ample sunlight. Due to the agricultural developments in the region, power has already been installed on the property and the government will be funding and installing a gas line that will be servicing the region. The property also hosts 150 acres of wooded area, giving the company access to wood on site.
Matica will be building five 200,000-square-foot greenhouses in phases for a combined indoor growing capacity of one million square feet. Phase 1 of construction on the greenhouses is underway. There is also approximately 30 acres of tilled land on the property, which Matica intends to use for outdoor growing. The cannabis grown outside, and in the greenhouses, will be used to develop a line of cannabis distillate and oil-based products, such as creams and other topicals.
Partnerships and Agreements
Yunify
In March 2018, Matica signed a definitive agreement to acquire a 40 percent interest in Yunify. Through their agreement, Matica will be financing Yunify for $2 million and will be able to address the demand for alternative cannabis delivery systems for pain relief, among other ailments.
Yunify is expected to develop proprietary topical products using the company’s mineral and plant-based suspension technologies, including a proprietary odor neutral time release formula that Matica intends to offer as a white-label solution for pharmacies and cannabis retailers. The companies have released their first proprietary product, an odor neutralizer that people can use to get rid of the scent of cannabis following consumption.
Yunify is also developing a line of functional hemp-based topical creams using its patented technologies. The topical creams are expected to use a time-release formula that is not greasy. The products would be available for sale in the US only and under the Matica brand.
Trichrome
In preparation for the upcoming cannabis-infused edibles market, Matica acquired Trichome Treats Inc. in May 2019. Matica and RoyalMax will be working with Trichrome to produce a full-range of adult-use cannabis-infused products, such as edibles and beverages. Initially, Matica intends to focus primarily on the chocolate and confectionary market.
Matica Enterprises’ Management Team
Boris Ziger, MBA — CEO and Chairman of the Board
Boris Ziger has over 20 years of experience in the capital markets and has been instrumental in the establishment and financing junior companies. For the past seven years, Ziger has been involved largely in the resource sector and has worked closely with many companies holding both board and senior management positions. He has been appointed Chairman of the board of directors.
George Brown — CFO
George Brown has a Bachelor of Business Administration with Honours from Bishop’s University in Lennoxville, Quebec. In 1982, Brown started his career in mining and resources as a Mining Analyst for La Societe en Commandite Camchib, a large flow-through fund established by Campbell Resources Inc. He was promoted to Controller of Culleton Lake Gold Mines Ltd. to oversee accounting, budgeting, payroll, purchasing and expediting a remote fly-in 350 ton a day gold mining operation in the Northwest Territories.
Brown was a financial consultant for Boulder Mining Corporation, Corner Bay Silver Inc., Flanagan McAdam Resources Inc., Muscocho Exploration Inc., MacMillan Gold Corp., McNellen Resources Inc. and Nugget Resources Inc. In September 2001, he became a director of MacMillan Gold Corp. and was appointed President. Brown was President and CEO until the amalgamation of MacMillan Gold Corp. with Duran Ventures Ltd. on October 2008 and was CEO of the amalgamated MacMillan-Duran until August 2009. He has been the President of MacMillan Minerals Inc. since March 2011. Brown was a Consultant to Corner Bay Silver Inc. during the discovery and development through feasibility of their Alamo Dorado project in Mexico, which was purchased in 2002 by Pan American Silver for over US$100 million in shares and warrants.
Charn Deol, Ph.D. — Director
Charn Deol has an extensive understanding of the marijuana industry having been an advocate for the legalization of marijuana since his studies at the University of British Columbia. Deol is a physiological psychologist by profession having earned a M.A. in psychology from UBC and a Ph.D. in counselling psychology from Columbia State College.
He also has over 30 years of experience in the financial markets. He has served on both private and public company boards. His past and current experience includes providing management and consulting services to companies, project analysis, investor relations and the financing of international projects. Deol is Vice-President of the Indo-Canada Chamber of Commerce (B.C.), and actively involved in fostering trade and business between Canada and India and provides corporate advice to foreign companies.
Meissam Hagh Panah — Director
Born and raised in Italy, speaking six languages and having lived and worked internationally, Meissam Hagh Panah’s understanding of the complexity and diversity of North American and European culture gives him an advantage to face the challenges of this new and everchanging cannabis market. He brings 10 years of international affairs and business development experience in a variety of industries with a special focus in the past few years on the cannabis and hemp sector in Quebec and worldwide.
Before joining Matica Enterprises, Hagh Panah consulted for several public companies in their cannabis licensing application process with Health Canada. After immigrating to Canada in 2008, he obtained a Certificate in Administration from HEC Montreal while working in diverse management roles in Montreal’s technology sector.
Roop Mundi— Director
Mr. Roop Mundi currently serves as Chief Executive Officer of Infuzed Brands Inc. Infuzed is a beverage company that focuses on CBD infused beverages. Infuzed is available in over 150 retail locations across the United States. In addition, Mr. Mundi owns and operates Mundi Capital Ventures – a private equity firm focused on consumer products distribution and logistics. Included in Mundi Capital’s investment portfolio is Jilong Plastic Products (North America) Inc. which is the sales, marketing and logistics arm of Shanghai Jilong Plastic Products – the third largest PVC producer of consumer goods worldwide. Mundi Capital currently provides logistics services and solutions for Weveel Products LLC, LoopScooters, Volm Industries and GrillTime Inc. Since its inception in 2015, Mundi Capital has successfully exited in three portfolio companies with an average multiple of 4 times total investment amount.
Prior to Mundi Capital, Mr. Mundi served as Vice President, General Counsel of RCI Capital Group Inc., a private equity firm based in Vancouver focused on Asia based transactions in the technology and energy markets. In addition, Mr. Mundi was Vice President, General Counsel of Kingsdale Shareholder Services Inc., the largest proxy and corporate governance firm in Canada. Prior to Kingsdale, Mr. Mundi was an Associate at Cassels Brock & Blackwell LLP focusing on corporate finance and securities in the real estate, technology and mining sectors. Mr. Mundi currently sits on the Board of Directors for Loopshare Ltd. Loopshare is publicly listed and is an emerging global leader in ridesharing, micro-mobility and sustainable transportation. Mr. Mundi holds a Bachelor’s degree from North Carolina State University, a Master’s degree from the University of Toronto and a law degree from the University of British Columbia.
Marcel R. Tremblay — Advisor
Marcel Tremblay resides in Quebec City and is a former Member of Parliament. First elected in 1984, he occupied a number of important positions in the House of Commons, including Parliamentary Secretary to the Deputy Prime Minister, to the Minister of Finance and to the Minister of Justice and Solicitor General of Canada.
During his two terms in the House of Commons, he also held the positions of Vice-Chairman of the House External Affairs and National Defence Permanent Committee, Vice-Chairman of the Permanent Public Accounts Committee and Vice-Chairman of the Permanent Members Affairs Committee and was a member of the Legislative Committee Chairman’s Committee, Co-Chairman of the Commission on Senate Reform, a member of the House of Commons Permanent Management Committee and Chairman of the ten-member caucus of MPs from the Quebec City area. In addition, he was a member of numerous parliamentary committees including: Canada-China, Canada-Europe, Canada-Japan, Canada-U.S. and Economic-Missions: Germany, Brussels, Moscow, New Zealand, Holland, and Taiwan. Finally, he was the representative of the Canadian government at the U.N., N.A.T.O. and O.E.C.D.
Spyder Cannabis
Spyder Cannabis Inc is a cannabis retailer. The company is engaged in selling electronic cigarettes, cannabis supplies, Ejuice, and accessories for the vape business.
Koios Beverage
Koios Beverage Corp is a beverage company, which is engaged in the business of producing nutritional beverage drinks using a proprietary blend of nootropics and natural organic compounds. The company has a distribution network across the United States to sell its products to distributors including Europa Sports, Muscle Foods USA, KeHE, and Wishing-U-Well.
LYF Food Technologies
Quality Edibles at High-Value Margins
Overview
LYF Food Technologies Inc. is a 100 percent edibles-focused consumer products company, developing high-quality edible products that are just as enjoyable as snacks as they are cannabis products. The company’s management team has more than 25 years of experience in large-scale food manufacturing.
More than one full year after the first wave of cannabis legalization, Canada has finally made value-added cannabis products like edibles available for legal sale, with the changes coming into effect in December. According to data by Deloitte Canada, the market for infused cannabis products is projected to be worth an estimated US$2.7 billion annually, with edibles accounting for the bulk of the market.
In much of the cannabis industry, edibles have been something of an afterthought. Many cannabis companies are developing edibles as part of larger product lines with dried bud, extracts and other infused products. Most cannabis companies are not experienced in the food industry, and so high-quality non-cannabis ingredients and ideal recipes tend not to be a focus. In contrast, LYF’s management has extensive experience in large-scale food manufacturing for some of Canada’s largest grocery stores, health and wellness retailers and pharmacies. LYF’s model is 100 percent focused on producing edible products that taste just as good as their non-cannabis infused counterparts.
To make high-quality cannabis edibles, you need high-quality ingredients. This includes using premium-quality cannabis and pure extracts, but equally important are the non-active ingredients. A brownie, for example, is only as good as the chocolate used to make it. The addition of cannabis will only serve to highlight the flaws in a low-quality baked good. LYF is focused on sourcing only high-quality cannabis extracts and food ingredients. To that end, the company has formed strategic partnerships with suppliers of premium food ingredients as well as a number of public and private licensed cannabis producers.
LYF’s wholly-owned production facility in Kelowna, British Columbia is capable of producing edible products quickly, in high volumes and with low overhead rates. Premium value-added cannabis products carry high-profit margins. LYF says that the average profit margin for one of their edibles is 92 percent compared to a 76 percent margin for a gram of dried cannabis bud. LYF’s lean and efficient team of experienced professionals also helps the company maintain a low overhead rate. According to the company, LYF will require just three million in gross sales before breaking even in 2020.
LYF Food Technologies Company Highlights
- 100 percent focused on edible cannabis products
- Evidence package submission to Health Canada scheduled for December 2019
- Health Canada license approval expected in the first quarter of 2020
- Management team has in-depth food industry development experience
- High profit margins of as much as 92 percent per value-added product
- Purpose-built manufacturing facility with capacity to produce $250,000,000 worth of edible cannabis products yearly
- Opportunities for white labeling partnerships
- Participating in the Lift & Co trade shows in both Vancouver and Toronto 2020
Kelowna manufacturing facility
LYF Food Technologies owns a purpose-built state of the art manufacturing facility in Kelowna, British Columbia. The 10,500 square foot facility is capable of producing $250,000,000 worth of edible cannabis products each year in safe and consistently dosed processes. The all-in-one facility will serve as an innovation, manufacturing and distribution hub with the second floor equipped with microbial and analytical labs and dedicated space for research and development. LYF’s offerings will cater to traditional taste and texture profiles while allowing for forward-thinking development to keep up with evolving consumer tastes and trends. The facility is equipped with proprietary production technology capable of producing 17,500 units per hour with interchangeable molds and injection nozzles to be able to flexibly produce multiple product categories. The facility also contains infrastructure for quality and safety testing.
White labeling opportunities
The Kelowna facility’s massive production capacity also opens up opportunities to open additional revenue streams. For the hundreds of existing cannabis brands operating in Canada that are looking to expand into the edibles market, acquiring the production infrastructure and expertise necessary to produce a quality edible product is often not financially feasible. These companies are likely to turn to white labelers for their edible production needs and LYF’s Kelowna facility has the capacity necessary to provide these services in addition to the company’s own products. LYF is already at work building relationships that could potential competitors into strategic partners. In addition to building partnerships with Canadian markets, LYF is developing relationships with companies in emerging cannabis markets in Australia, Europe and South America.
LYF Food Technologies’ Management Team
Paolo Pero—CEO, Director
Paolo has extensive experience in management, product development, quality control, scalability and operations after a 25+ year food manufacturing career. Paolo grew up working in his family bakery before launching his own career in the early 90’s after achieving his Red Seal certification. Over the years, Paolo’s businesses have supplied the largest supermarket chains in Canada, including Save-OnFoods, Safeway, Sobeys and IGA. In addition to manufacturing chocolate and confectionery products under private label and provided co-packing solutions for retailers such as Walmart, Pharmasave, 7-Eleven and Whole Foods.
Matthew Amado—President, Director
Matthew has been focused on marketing strategies, branding, packaging, import/export operations and e-commerce solutions for food manufacturing companies for over 8 years. His most recent role involved growing market share and cutting distribution costs in the pharmacy sector. Matthew started his entrepreneurial journey after retiring from a 6-year professional hockey career that took him all over North America and Europe. He is a graduate of the University of Notre Dame with a B.B.A. in Marketing.
Dani Majzoub—VP of Production
With over 24 years of experience producing all kinds of food, her last 13 years have been spent exclusively managing and operating a confectionary team as a master chocolatier. Dani is able to formulate and consistently produce chocolates and other food items with specific taste profiles at the highest levels. She is proficient with Organic, HACCP, BRC and GMP accredited facilities. She recently won best snack food for her milk chocolate quinoa bar at the 2019 Canadian Gluten Free awards.
Jessika Bedard-St-Amant—VP of Science
Jessika brings 12 years of experience as a food chemist and flavorist previously working for Kerry, SunRype and Marvini. She has developed and successfully launched dozens of food and beverage consumer products with distribution in the Americas and Europe. She also has extensive experience in obtaining and maintaining HACCP, ISO 22 000, GMP and organic certified facilities. She holds a Master’s degree in Food Science from Université Laval and a Bachelor in Chemistry from Université de Sherbrooke.
Todd Sprieszl—VP of Quality Assurance
Todd has spent his entire career working in a multitude of related chemistry, microbiology, and biotechnology labs. In his last position at a Phytoceuticals company, Todd worked with clients to produce both natural health products and food products. He specializes in obtaining product license numbers, site licensing, editing and writing SOPs and has tremendous proficiency in the new cannabis regulatory processes. Todd has a BA in Chemistry from the University of British Columbia.
Ranjeev Dhillon—Legal Advisor, McCarthy Tetrault LLP
Ranjeev is the co-lead of the firm’s national Cannabis Law Group. A recognized leader known for his pragmatism, business knowledge and industry expertise, Ranjeev helps clients successfully navigate the evolving demands of the high-growth cannabis market in Canada and abroad. Ranjeev is at the forefront of the industry, helping innovative companies and entrepreneurs manage significant market potential while minimizing risk. He has worked with some of the biggest names in the cannabis industry including Canopy Growth Corporation, Auxly, and Vivo Cannabis.
The Tinley Beverage Company
The Tinley Beverage Co Inc is a beverage company. It manufactures a line of liquor-inspired, non-alcoholic, cannabis-infused beverages for use in California, United States. The company also manufactures the TinleyTM Tonics and TinleyTM 27 line of products. Some of its products include High Horse; Stone Dasiy; Coconut Cask; Almond Cask; Flying Mule and others.
BevCanna
An Early Leader in the Infused Beverage Industry
Overview
Thanks to widespread legalization, today’s cannabis consumers are free to enjoy an ever-expanding variety of cannabis products. But one of the fastest-growing segments of the cannabis market — as well as the beverage industry — is cannabis-infused beverages. In 2019, the global cannabis beverages market stood at US$367.4 million, an upswing in popularity driven by portion-controlled doses, ease of administration, increasing availability and a desire for healthier alternatives to inhaling cannabis. By 2027, the market is expected to reach US$8.52 billion at a compound annual growth rate of 50.9 percent.
BevCanna Enterprises Inc (CSE:BEV, Q:BVNNF, FSE:7BC) is a diversified health & wellness beverage and natural products company focused on developing and manufacturing a range of plant-based and cannabinoid beverages and supplements for both in-house brands and white-label clients. The BevCanna team boasts decades of experience creating, manufacturing and distributing iconic brands that resonate with consumers on a global scale.
BevCanna’s distribution network features more than 3,000 points of retail distribution through the company’s market-leading TRACE brand, its Pure Therapy natural health and wellness e-commerce platform, its fully licensed Canadian cannabis manufacturing and distribution network and its partnership with #1 U.S. cannabis beverage company, Keef Brands.
The company commercializes infused beverage products for both in-house brands and white-labeled products. Members of the BevCanna team have offered their expertise through collaborations with leading brands such as PepsiCo., Colgate, Unilever, Arrowhead Springs, Clearly Canadian, and TRACE, which is the world’s first plant-based ancient mineral water beverage with natural product certification through Health Canada. BevCanna has a global multi-channel CPG distribution network including Canada, U.S., Europe, and Asia . The company offers a range of traditional and cannabis-infused beverages and nutraceuticals.
In February 2021, BevCanna received its Standard Processing License from Health Canada, granting full authority to begin production at its full service, high-capacity beverage manufacturing facility. BevCanna owns a 40,000 square foot facility in the Okanagan Valley is HACCP-certified, and fully licensed to manufacture both traditional and cannabis-infused beverages, and an onsite alkaline spring water aquifer where water is naturally filtered through sedimentary rock strata, resulting in pure, premium alkaline spring water bottled at source.
BevCanna is a diversified health and wellness company with a global multi-channel distribution network positioned for growth. The company leverages a network of industry partnerships, including a supply partnership with Nextleaf Solutions, a cannabis processing company with numerous patents for industrial-scale extraction and distillation processes that produce odorless, tasteless and water-soluble THC and CBD. As well as #1 U.S. cannabis emulsion company, Vertosa. BevCanna will infuse Vertosa emulsions into its Canadian cannabis beverages for in-house and white label clients, including Keef Brands. Vertosa’s emulsions are proven to accelerate onset time to an average of eight minutes, prolong shelf-life, increase bioavailability and improve the taste profile of the Company’s cannabis-infused products. Vertosa’s pre-suspended, water-compatible solutions are incredibly homogenous and stable products.
BevCanna is leveraging decades of industry experience, brand acquisitions, strategic partnerships and joint venture opportunities to solidify its position as an early leader in the emerging infused beverages industry.
BevCanna’s Company Highlights
- BevCanna is an early leader in the infused beverage industry, which is expected to reach US$8.52 billion by 2027 at a compound annual growth rate of 50.9 percent.
- The company completed a landmark acquisition of established beverage and nutraceuticals company Naturo Group, which boasts a significant asset base, plant-based beverages and nutraceuticals, significant sales and distribution in over 3,000 points of distribution, and ownership of an alkaline spring water source.
- The company leverages recent strategic acquisition of natural health and wellness e-commerce company, Pure Therapy, with a projected run rate of approximately C$7.68M in revenue and positive EBITDA in 2021.
- BevCanna has evolved into diversified health and wellness; beverage and natural products company with over $55 million in assets on the balance sheet, and a global multi-channel distribution network positioned for intense growth.
Strategic evolution into a diversified health & wellness beverage and natural products company
With the recent completion of the acquisition of Naturo Group, and receipt of its highly coveted Health Canada Standard Processing License, BevCanna is in the unique position of being one of the only fully licensed beverage manufacturing companies that produces and distributes both conventional and cannabinoid-based beverage and wellness products. We are creating a diversified health and wellness company, with $55M+ in assets and a global multi-channel sales and distribution network positioned for growth.
BevCanna Canada
With receipt of its Health Canada Standard Processing License (SPL) to manufacture and sell cannabis beverages and products in the Canadian market, and recently announced Sales License partnership, the company is now focused on the following initiatives:
- BevCanna is fully authorized to commence commercial production of Keef beverages and its white-label products, with a focus on selling through licensed Canadian retailers across the country.
- In addition to its in-house and partner brands, BevCanna will be working with other B2B cannabis-license holders and non-licensed CPG customers seeking to enter the Canadian cannabis market as a white label manufacturer. The company has announced co-packing agreements with multiple white label clients, with a pipeline of additional clients from the initial scoping stage all the way to final contract negotiations.
Naturo Group
BevCanna’s transformative acquisition of Naturo Group positions the company perfectly to expand into the growing health and wellness industry with full ownership of its 40,000 sq. ft. manufacturing facility, 315-acres of cultivable land, pristine on-site natural alkaline spring water aquifer, and leading plant-based wellness brand, TRACE. BevCanna’s key initiatives for Naturo Group include but are not limited to:
- Naturo Group offers a full-service white-label beverage manufacturing solution for CPG clients, featuring a variety of beverage product formats including PET, aluminum, and glass form factors, available in multiple sizes and custom shapes.
Pure Therapy
BevCanna’s recently acquired U.S. & international hemp & nutraceutical e-commerce platform sells a range of natural health products, including nutraceutical and hemp-based cannabidiol products throughout North America and Western Europe.
- The Pure Therapy acquisition has provided BevCanna with a proven e-commerce brand and platform to expand and launch its nutraceutical and cannabinoid-based products directly through an existing customer base and a powerful direct sales platform. Pure Therapy brings an extensive list of approximately 23,000 customers acquired since its inception.
- The direct-to-consumer e-commerce platform has generated extremely positive year to date revenues. The Company has continued to invest in strategic new product integration and customer acquisition, with a resulting projected run rate of approximately C$7.68M in revenue and positive EBITDA in 2021.
BevCanna USA
BevCanna’s exclusive partnership with award-winning Keef Brands positions it ideally for rapid growth within the U.S. market, in anticipation of positive federal regulatory reform with the U.S. federal cannabis legalization.
- Partnership with the #1 cannabis-infused beverage brand is mutually advantageous for the two companies. BevCanna is the exclusive manufacturing and distribution partner for Keef Brands in Canada, while also having access to Keef extensive U.S. manufacturing and distribution network to access the U.S. cannabis market (which includes more than 1,000 dispensaries and delivery services across Colorado, California, Arizona, Nevada, Michigan, Oklahoma, and Puerto Rico).
- Keef Brands currently offers eight of the ten top-selling cannabis beverages in Colorado as well as two of the ten top-selling in California1. Keef Brands ranks first in the U.S. both in units and dollars sold amongst all cannabis beverage companies2.
12020 Headset Insights report
2BDSA
TRACE – Canada, U.S., Japan and the Philippines
TRACE is a line of plant-based mineral beverage and nutraceuticals. TRACE is sold across the country through Canadian retailers, with select international agreements and partnerships under review. Along with their nationally distributed alkaline and sparkling waters, and plant-based mineral beverages and supplements, TRACE is expanding its product selection and is incorporating additional nutraceuticals, including cannabinoids, adaptogens, and nootropics, into its products to be sold in domestic and international markets.
BevCanna’s Strategic Partnerships
BevCanna is a leader in the emerging cannabis beverages market and is evolving into a diversified health and wellness company with several transformative acquisitions, strategic partnerships and joint-venture opportunities, that serve as growth catalysts in 2021 and beyond.
BevCanna has partnered with the award-winning Keef Brands, which currently offers six of the top ten best-selling cannabis beverages in Colorado, as well as three of the top ten best-sellers in California. John Campbell, BevCanna’s chief strategy officer, commented, “Keef’s robust US manufacturing and distribution network will be a significant asset to BevCanna‘s expansion plans in the US and BevCanna‘s expertise in the Canadian infused beverage market will build Keef’s Canadian presence. It’s a strong combination, with excellent potential for both companies.”
In February 2021, the company closed on its transformative acquisition of Naturo Group, an established beverage and CPG company worth over US$35 million. This will create a unique, fully licensed white-label beverage manufacturing and distribution company with a global multi-channel distribution network involving both traditional retail and cannabis sales channels. BevCanna will also own Naturo Group’s flagship brand, TRACE, which is sold in more than 3,000 Canadian retail locations and is expanding its product selection to include nutraceuticals.
Pure Therapy, a direct-to-consumer e-commerce company recently acquired by BevCanna. The Pure Therapy acquisition has provided BevCanna with a proven e-commerce platform to launch its hemp-based products directly into the global health and wellness market. Pure Therapy, which boasts a list of over 23,000 customers, will carry BevCanna’s and Naturo Group’s in-house products.
The company has entered into an exclusive sales agency distribution agreement with Yokohama-based Mirai Marketing Inc. to bring Naturo Group’s TRACE proprietary plant-based mineral consumer products to Mirai’s extensive Japanese and Philippine sales and distribution networks.
BevCanna’s Executive Expertise
The company’s unmatched expertise has been instrumental in its success. The BevCanna team offers unparalleled industry experience across all aspects of beverage development, branding, production and distribution. Members of the BevCanna team have worked with leading brands such as Mike’s Hard Lemonade, PepsiCo, SC Johnson, Vega and Trace Beverages, the world’s first plant-based functional water beverage with natural product certification through Health Canada.
BevCanna’s Management Team
Marcello Leone is the CEO and Founder of BevCanna (CSE:BEV). He is also the founder of Naturo Group and the TRACE brand.
John Campbell is the CFO and CSO of BevCanna. He has over 30 years of experience in the investment industry, including time with TriView Capital Ltd.
Keith Dolo is the company’s Executive Management Advisor. Having previously served as CEO and Executive Chairman of Sproutly Inc. Previous, he served for over 13 years with Robert Half (NYSE:RHI), an S&P 500, NYSE listed company, specifically in the role of Vice President for the last 8 years.
Melise Panetta is the company’s President. She is an accomplished senior marketing and sales executive with extensive experience with leading organizations such as SC Johnson, General Mills (NYSE:GIS) and PepsiCo. (NASDAQ:PEP) Ms. Panetta has nearly 15 years of deep marketing and sales expertise.
Raffael Kapusty is the company’s Vice President of Sales & Insights. She is an accomplished CPG industry leader with more than 25 years of experience in both the Canadian and U.S. retail spaces. With a solid foundation at ACNielsen Canada (NYSE:NLSN), Raffael has developed a deep understanding of the CPG space, working with over 100 leading Canadian & global CPG manufacturers. She has also held senior category and key account management roles at Kruger (NYSE:KR), SC Johnson and Unilever Canada (NYSE:UL).
Bill Niarchos is the company’s Vice President of Sales & Sales Operations. He has over 20 years of experience in the CPG goods industry/retail environment. In his most recent role as Director of Sales with Bayer Consumer Health, Bill managed the strategic direction and growth of Loblaw & SDM. Prior to his position with Bayer (ETR:BAYN), Bill held a number of progressive roles at Colgate Palmolive (NYSE:CL) for more than 14 years.
Japheth Noah is the company’s Head of Quality Assurance. He is an Oxford and MIT educated quality and regulatory manager with over 15 years’ experience in beverage, pharmaceutical, natural health, and medical industries.
Keith Stride is the company’s Creative Director. He has 25 years of experience in marketing and advertising, including time in a CMO role with Hemptown USA. Mr. Stride is internationally recognized for building high-profile brands, including Rogers (NYSE:RCI),TD Bank (NYSE:TD), Best Buy (NYSE:BBY), Whistler-Blackcomb and RBC (NYSE:RY).
4Front Ventures
Designed for longterm success across the United States.
Overview
4Front Ventures Corp. (CSE:FFNT,OTC:FFNTF) is a cannabis company designed for long-term success in the United States. The company intends to build upon its proven operations in Washington state through experienced leadership, a strategic asset base and a commitment to operational excellence.
4Front Ventures has established cannabis cultivation, production, manufacturing and retail operations across the United States, including six cultivation and manufacturing facilities in Washington, Illinois and Massachusetts. The company also has licenses in place enabling it to develop manufacturing facilities in both Arizona and California.
4Front Ventures first established its cannabis operations in Washington state, including a full line of branded products. The company owns the #1 edibles manufacturer and the #2 producer of flower in the state, resulting in the second-largest market share in Washington. In May 2020, 4Front Ventures announced its financial results for 2019 and Q1 2020, reporting systemwide pro forma sales of $63.5 million in 2019. The $23.8 million generated by 4Front Ventures in Q1 2020 represents a 36 percent increase over the previous quarter’s totals.
4Front Ventures first established its Washington cultivation and production operations in 2012. Over the next several years, 4Front Ventures has worked to establish state-leading operations at scale in one of the most competitive cannabis markets in the world. 4Front Ventures’ proven operational capabilities in Washington state have provided the company with a business model that it feels can be replicated in similar US cannabis markets. Moving forward, 4Front Ventures aims to replicate its business model in Washington state in emerging US cannabis markets such as Illinois, Massachusetts, California and Michigan.
Collectively 4Front Ventures has established over 60,000 square feet of cannabis cultivation space across its Elma and Tumwater operations in Washington. The company’s 40,000 square foot Tumwater production and packaging facility has captured a leading market share across the Washington edibles industry and the second-largest share of Washington’s dried cannabis market.
4Front Ventures oversees cultivation, production, manufacturing and retail operations across the United States. The company currently operates six cultivation and manufacturing facilities in Washington, Illinois and Massachusetts, with licenses in place to develop product manufacturing facilities in Arizona and California. 4Front Ventures also operates a 94,000-square-foot cultivation and manufacturing facility in Elk Grove Village, Illinois and is currently building a 190,000-square-foot manufacturing facility in Commerce City, California.
4Front’s wellness division in California currently sells CBD products online throughout the US with a full line of CBD and THC wellness products available through retail stores. The wellness division also offers an overnight cannabis delivery service, with a network that covers approximately 93 percent of California’s operations.
4front opened its second Mission Dispensary in December 2020 in Calumet City, Illinois. The 3,000 square foot facility is the closest dispensary to the Indiana state line.
Leo Gontmakher, the architect of 4Front Ventures’ initial success in Washington state, was promoted to CEO of the company in March 2020 and is expected to lead 4Front Ventures forward based on the company’s Washington model. In addition to his experience with 4Front, Gontmakher co-founded Northwest Cannabis Solutions, a Washington State cannabis company that grew to become one of the largest producers of cannabis products in the state. Moving forward, Gontmakher intends to drive cash flow by focusing on the performance of the company’s main operations. “4Front’s core assets are in adult-use markets and afford us the opportunity to meaningfully expand our cultivation and manufacturing capabilities, most notably in Illinois, Massachusetts and California in the future,” said Gontmakher. “This focus allows us to allocate capital to core businesses that can achieve significant, near-term cash flow.”
4Front Ventures Company Highlights
- Proven cannabis cultivation, production and packaging business model established in Washington state, with supporting distribution channels
- 4Front owns or operates five cultivation facilities across three states: Illinois, Massachusetts, and Washington.
- Generated $23.8 in systemwide pro forma sales in Q1 2020, an increase of 36 percent over the previous quarter
- 4Front production division owns over 20 brands across more than 300 SKUs, which are distributed to over 60 percent of Washington’s cannabis retailers.
- Facility in Tumwater, Washington manufactures more than 100,000 extract cartridges, 200,000 edible packs, and 200,000 pre-rolls per month.
- Wellness brand Pure Ratios offer an award-winning 96-hour pain relief patch, the first and only pain management product of its kind
- Pure Ratio topical delivery products are offered in both CBD and THC formulations
- Expanding its product lines across the United States, including top-sellers in Washington state such as the company’s infused Terp Stix
- Regulatory expertise stems from its initial advisory and licensing business. The company’s regulatory team has helped its clients secure more than 60 operating licenses across several states.
- CEO Leo Gontmakher was instrumental in 4Front Ventures’ early growth in Washington, is expected to lead the company’s expansion across the US
4Front Ventures’ Washington Operations
4Front Ventures has tested, developed and optimized its operations in Washington state, including over 60,000 square feet of collective canopy space and 40,000 square feet of production and packaging space at its Tumwater facility.
The company’s flagship operations in Washington state have established significant market share in the state, including the most popular edibles brand in Washington and the second-most popular dried cannabis brand. Leo Gontmakher, who was instrumental in the development of 4Front Ventures’ Washington state operations, was recently named CEO of the company in order to help expand on the company’s vision in new states. Gontmakher has extensive experience in Washington state, where he also co-founded Northwest Cannabis Solutions, one of the largest and most successful producers of cannabis products in Washington State.
Based on initial success in Washington state, 4Front Ventures has begun introducing its branded products into new markets, beginning with Massachusetts. The company intends to expand its product offerings across the United States as it continues to improve its packaging and distribution capabilities.
4Front Ventures’ Massachusetts Operations
In August 2019 4Front Ventures established its cannabis production division, which took control of previous Cannex assets across the United States, including cultivation and production operations at 4Front Ventures’ Worcester facility in Massachusetts.
4Front Ventures now operates two facilities in Massachusetts. The company’s 67,000-square-foot Georgetown facility and 21,700-square-foot Worchester facility both house cultivation and manufacturing space capable of driving 4Front’s future operations. Based on its initial success in Washington state, 4Front Ventures’ premium infused Washington flower product Terp Stix has been introduced into the Massachusetts marketplace.
4Front Ventures’ Illinois Operations
4Front Ventures has secured one of the 19 “Tier 1” production licenses available in the state of Illinois, allowing for 220,000 square feet of canopy space. Moving forward, 4Front Ventures intends to follow its proven Washington development model in order to advance its Illinois operations. Washington VP of Operations Joe Epperson has been relocated to Illinois to oversee this phase of development.
4Front Ventures is currently working to upgrade its Illinois facility with the goal of increasing its canopy capacity from 3,168 square feet to 9,072 square feet. The company intends to complete the fully-funded upgrade work by Q4 2020.
4Front Ventures has established two retail operations in the state of Illinois, Mission South Chicago and the Calumet City store. The company’s newest store in Calumet City is fully-funded and expected to be operational by early 2021.
4Front Ventures’ Wellness Division: Pure Ratios
Founded by two natural health practitioners with over 45 years of combined hands-on experience, 4Front Ventures’ wellness division Pure Ratios is rooted in science, technology and holistic medicine. The company has developed proprietary formulations that were created by long-time practitioners of eastern medicine.
Pure Ratios are the creators of the award-winning 96-hour pain relief patch, the first and only pain management product of its kind, the Pure Ratio patches utilize topical delivery of CBD and THC. Through this method, the CBD or THC bypasses the digestive process for the undiluted absorption of cannabinoids directly into the bloodstream.
In addition to its pain patch, Pure Ratios offers a variety of topical products including hemp extract balms, oils and salves. The company also offers a line of herbal capsules that come in a variety of formulations including BOOST, MOVE, THINK and CALM.
4Front Ventures’ Retail Operations
Through its subsidiary Mission Retail, 4Front Ventures has developed an extensive retail presence in several states across the US. Mission’s aim is to support the company’s retail, existing cultivation and manufacturing operations throughout the United States. Moving forward, Mission intends to expand its retail presence in core markets with the goal of securing further distribution for 4Front’s products.
Through the company’s retail arm, 4Front Ventures has established exposure and distribution across the United States, including dispensaries in Massachusetts, Illinois, and Michigan.
4Front Ventures’ Management Team
Leo Gontmakher – Chief Executive Officer
Leo co-founded Northwest Cannabis Solutions, which under his leadership grew to be one of the largest and most successful producers of cannabis products in Washington state. He also served as Chief Operating Officer at Cannex, which merged with 4Front in July 2019. Leo has significant experience in cannabis facility design, construction management, equipment sourcing, operations, branding, sales and marketing strategy, and software solutions. Before entering the cannabis industry, he served on the senior management team at North America’s largest processor and distributor of specialized seafood products. Upon completion of the Transaction, Mr. Gontmakher will also serve as COO of the Resulting Issuer.
Kris Krane – President
Having founded 4Front Advisors in 2011, Kris now serves as president of 4Front. Prior to forming 4Front, Kris served as director of client services for CannBe, a pioneer in developing best practices within the medical cannabis industry. Kris has dedicated his career to reforming the nation’s misguided drug policies, having previously served as associate director of NORML (2000-2005) and executive director of Students for Sensible Drug Policy (2006-2009). He currently serves on the National Cannabis Industry Association board of directors and pens a column about the cannabis industry for Forbes. Kris’ pioneering roots in cannabis advocacy and policy provides a deep understanding of the evolving regulatory environment, which often provides 4Front a head start on seeing and evaluating opportunities.
Andrew Thut – Chief Investment Officer
Andrew was an early investor in 4Front, joining the company full time in 2014. He brings to the team a wealth of financial management experience and business acumen having previously served as managing director of the BlackRock Small Cap Growth Fund at BlackRock Advisors LLC. During his 11-year involvement, the $2 billion fund ranked in the top five percent of all domestic small-cap growth funds. He also had past experiences at MFS Investment Management and BT Alex Brown. Since joining 4Front, he has immersed himself in every facet of the cannabis industry, from the relevant financial drivers of the industry to hands-on experience with dispensaries and cultivation facilities.
Nicolle Dorsey – Chief Financial Officer
Prior to joining 4Front, Nicolle served as Principal Accounting Officer and Controller at RGS Energy, a publicly-traded solar energy company. Her accounting background includes serving as both assistant controller and senior corporate accountant for several public and private companies in various utility and energy industries. Ms. Dorsey has extensive knowledge of technical accounting, financial forecasting, financial analysis, and business operations. She also worked for Cloud Peak Energy, a publicly held coal-producing company, as a senior accountant, and she is a licensed certified public accountant and has a BBA degree in accounting and a Master of Accountancy from the University of Wisconsin.
Josh Rosen – Executive Chairman
Josh provided seed capital to Kris Krane to form 4Front Advisors in 2011 and joined as a full-time team member in 2014 when 4Front began to explore opportunities beyond consulting. Previously, he spent 13 years as an equity analyst and portfolio manager in the financial services industry, during which time he became one of the youngest vice presidents in Credit Suisse’s history. Josh moved into private equity in 2008 because he wanted to have a more meaningful impact on companies.
David Daily – Director
David is the CEO of Gravitron, LLC which he founded in 2004. Commonly known as Grav.com or Grav, its original invention was the first all-glass gravity bong, the Gravitron, which was an instant success and has become a cult classic. Since the Gravitron, Mr. Daily has designed or led the Grav design team to bring over 500 unique top-line products to the cannabis market. In 2018, Grav was named in the 50 best companies to work for in cannabis by MG magazine.
Eric Rey – Board Chair and Director
Eric is a director and consultant to Arcadia Biosciences, Inc. where he previously served as President and CEO and which he founded in 2003. Mr. Rey has managed agricultural research, product development, and commercial programs for more than 21 years. Prior to Arcadia, he was a partner at the Rockridge Group, a consulting firm focused on agricultural biotechnology, and was formerly Vice President of Operations for Calgene Oils, a Division of the Monsanto Company. Mr. Rey is a director of Phytelligence, Inc. and Texas Crop Science LLC and holds a B.S. in Plant Science from the University of California at Davis.
Lexaria Bioscience
Out-Licensing Patented Biotechnologies
Overview
Lexaria Bioscience Corp. (NASDAQ:LEXX) is a biotechnology company focused on its proprietary drug delivery technology DehydraTECH™. The company has been granted 18 patents internationally and submitted over 60 patent applications. Operating on an out-licensing and royalty business model, the company generates most of its revenue from very high profit-margin royalties by licensing its patented DehydraTECH™ technology to other companies.
Lexaria is exploring several verticals for its DehydraTECH™ technology:
- A potentially game-changing hypertension medication using Lexaria’s patented processed CBD without the awful side effects of other leading drugs. There are 1.3 billion people with high blood pressure.
- Reduced risk nicotine alternatives to deadly cigarettes: intended to improve the lives of 1.1 billion global smokers.
- Much faster and more reliable oral cannabinoid delivery in product formats like oral pouches intended to eliminate cigarette smoking.
- Antiviral drug improvements targeting COVID-19, HIV/AIDS, influenza, and other viruses that together kill millions of people every year.
DehydraTECH™ improves the way in which active pharmaceutical ingredients enter the bloodstream and increases the effectiveness of fat-soluble active molecules, thereby lowering overall dosing. This method promotes healthier oral ingestion methods compared to smoking, and less wasteful methods compared to needles for vaccines. The technology enhances formulations that quickly and effectively deliver a wide range of bioactive molecules, such as nicotine, CBD, NSAIDs and various other drugs and medicines. In addition to these priority verticals, the technology can be applied to food and supplements.
In March 2021, the company announced significant progress in its research and development for DehydraTECH™ use for administering both CBD hypertension medication and antivirals for COVID-19 using DehydraTECH™ 2.0, an enhanced version of its proprietary technology. Lexaria expects to receive results for all five studies for its CBD for hypertension R&D this year, beginning as early as May. Results from Lexaria’s 2018 human clinical study were successful and positive 2021 results could open the door to a new commercial pathway within this US$28 billion annual market.
“It’s been a very productive start into 2021 with a total of seven studies currently underway across our various research programs,” commented Chris Bunka, CEO of Lexaria. “Lexaria’s applied R&D programs are vital to generate the supportive data required to pursue either regulatory approvals or corporate relationships necessary for commercial launch. We expect great success this year and are eager to report study results as they become available.”
Some existing studies have found that DehydraTECH™ technology increases the absorption of bioactive compounds by as much as five to 10 times and takes effect in as little as several minutes after swallowing a capsule.
The company is also focused on licensing its technology for use as a safer method of nicotine consumption, as millions of people die each year from smoking cigarettes – the worst possible method from a safety perspective of administering nicotine. Oral administration of purified nicotine, for example, avoids lung disease potential such as emphysema and lung cancer. Lexaria’s second-generation testing of its oral nicotine showed 195 percent more nicotine across the blood-brain-barrier, which could allow for smaller doses of nicotine. The formulation was also four times faster at reaching its peak level in brain tissue than the control formulation.
In other industries, DehydraTECH™ is licensed as an alternative form of orally administered THC and CBD. Like cigarettes, joints are harmful to users’ lungs, but the safer choice of edibles have their own drawbacks of a long onset and prolonged effect. The use of DehydraTECH™ for oral edible formulations offers a fast onset and more control, making it a much safer and more user friendly alternative to old-fashioned options.
Lexaria is led by an experienced management team that owns about 13 percent of the company’s shares and have many decades of experience.
Lexaria’s Company Highlights
- Intellectual property (IP) portfolio consists of ~60 pending patent application submissions and 18 granted patents.
- Most revenue generated is high profit-margin royalty income.
- B2B revenue model focused on out-licensing the patented DehydraTECH™ technology in return for licensing fees and commercial royalties.
- Positive results in preclinical and clinical research for DehydraTECH™ technology.
- Licensing or formal R&D agreements in place with Altria, Cannadips, Hill Street Beverages, British American Tobacco and more.
- Research partnership with the Canada’s prestigious National Research Council (“NRC”).
- Health Canada licensed, state-of-the art formulation development laboratory.
- Lexaria’s 19th patent granted in India complements the existing suite of granted patents spanning the EU, the US, and Australia. The 20-year patent also provides intellectual property protection to both consumer-packaged goods as well as registered drug applications.
DehydraTECHTM
DehydraTECH™ is Lexaria’s patented and cost-effective delivery technology that improves the speed of action, bioavailability, taste and more, of beneficial compounds in oral and oral ingestible products. DehydraTECH™’s patents cover its use with a broad range of bioactive molecules, such as CBD, nicotine, NSAID pain-relievers, and others.
DehydraTECH™ technology is optimized to work with hard-to-deliver fat-soluble payloads. The technology is an additional value-adding step to companies that are looking to improve the effectiveness of prescription and non-prescription drugs, NSAIDs, nicotine and other products.
Lexaria’s revenue streams have started to show growth in the fiscal year that started September 1, 2020, with more revenue in the first two quarters ending Feb 28 2021 than in the entire previous fiscal year. Operations are now cash flow positive if corporate G&A is ignored.
Lexaria’s Research Initiatives
Lexaria is looking into various applications for its DehydraTECH™ technology, focusing during 2021 on CBD for pulmonary vascular hypertension as well as the delivery of antivirals for COVID-19 and other viruses.
The CBD for pulmonary vascular hypertension R&D encompasses five studies, including two animal and three human studies, using the DehydraTECH™ 2.0 technology. Results from animal studies are expected during May to July 2021 and from human studies from September through November 2021. If successful, Lexaria believes the wealth of data may be sufficient to attract the attention of big pharma and biotech.
The final area of investigative focus for 2021 is reduced risk methods of nicotine delivery. In 2018, Lexaria conducted two nicotine absorption and tolerability studies in animals, the results of which were strong enough to lead to a commercial licensing deal with tobacco giant Altria Corp.
Lexaria’s Subsidiaries
Lexaria’s subsidiary companies focus on distinct customer bases and business applications. This allows Lexaria to focus its research and optimize the company’s financial structure and partnerships to ensure that each sector of its business is given due consideration, time and effort. Lexaria Bioscience Corp administers the intellectual property portfolio and segregated technology licenses into the various subsidiaries, some of which are identified below.
Lexaria Pharmaceutical Corp.
Lexaria Pharmaceutical provides DehydraTECH™ to the global pharmaceutical sector to help find solutions for pain relief, hypertension, hormone treatments, anxiety disorders, central nervous system conditions, and more.
Lexaria Nicotine LLC
Lexaria Nicotine provides DehydraTECH™ technology to the global nicotine and tobacco industries. Lexaria Nicotine is focused on reduced-risk nicotine solutions to help smokers lead healthier lives and reduce the risk of cancer by avoiding combustible products.
R&D for this vertical has been supported by relationships with Altria Group and British American Tobacco. Lexaria Nicotine is also in discussions with other global tobacco and pharmaceutical companies to use DehydraTECH™ for non-combusted nicotine products.
Lexaria Hemp Corp.
Lexaria Hemp provides DehydraTECH™ using hemp-derived CBD to the rapidly growing consumer packaged goods (“CPG”) sector in the US, and depending on local regulatory frameworks, into certain medical cannabis markets. This divisionis generating licensing and processing revenues in the US market from the CPG sector where the technology is used under license by companies such as Cannadips, Amari, and others.
Lexaria’s Management Team
Chris Bunka – Chairman and CEO
Chris was primarily responsible for the corporate pivot from older business activities to bioscience in 2014. Chris is a serial entrepreneur and has been involved in several private and public companies since the late 1980’s. He was well known for more than a decade as a part-time business commentator in print and radio, as well as an author. He has extensive experience in the capital markets, corporate governance, project acquisition and corporate finance. He is a named inventor on some of Lexaria’s pending patents.
John Docherty – President and Director
John Docherty is a senior operations and management executive with over 20 years of experience in the pharmaceutical and biopharmaceutical sectors. He has worked with large multinational companies, as well as emerging private and publicly-traded startups. He is the former President and COO of Helix BioPharma, where he led the company’s pharmaceutical development programs for its plant and recombinantly derived therapeutic protein product candidates. He was also instrumental in the areas of investor and stakeholder relations, capital raising, capital markets development, strategic partnering, regulatory authority interactions and media relations.
Prior to this, he was the President and Director for PharmaDerm Laboratories Ltd., a Canadian drug delivery company that developed unique microencapsulation formulation technologies for use with a range of active compounds. He is a named inventor on issued and pending patents and he has a M.Sc. in Pharmacology and a B.Sc. in Toxicology from the University of Toronto.
Greg Downey – CFO
Greg Downey has over 10 years of experience as a senior accounting executive with public companies and had acted as Lexaria’s Controller for two years prior to becoming CFO. Mr. Downey has served as the Chief Financial Officer for a variety of publicly traded companies, including: Fission Uranium Corp., Big Wind Capital Inc., SecureCom Mobile Inc. and others. Mr. Downey holds a Certified Management Accountant designation and is a member of the Chartered Professional Accountants of British Columbia
Nicholas Baxter – Independent Director
Nick Baxter received a Bachelor of Science (Honours) from the University of Liverpool in 1975, and has worked on oil and gas projects across the globe. Since the 1980’s, he has worked with companies in the public markets both in the U.K. and in Canada.
Ted McKechnie – Independent Director
Ted McKechnie is a well-recognized thought leader in the Canadian food industry. In the past, he was president of Maple Leaf Foods, an owner and senior executive at Humpty Dumpty and a senior leader at PepsiCo. After a distinguished career as an executive and marketer specializing in food manufacturing, he now focuses on moving the Canadian food sector into the future. Besides being the chairman of Food Starter’s board, McKechnie is also the Chairman and CEO of The Davies Group and William Davies Consulting Inc. He is also a chairman of the board for Advanced Technology For Food Manufacturing, and the Director of Lexaria Bioscience Corporation.
Brian Quigley – Independent Director
Brian Quigley is a 20-year consumer packaged goods veteran of managing complex regulatory environments including for novel and innovative nicotine products, with additional deep experience with operations and marketing. In his time at Altria, he spearheaded harm reduction strategies and worked to deliver results by creating change in the tobacco business in North America. He has launched dozens of new products, created consumer-focused innovation strategies and built businesses and cultures that deliver results.
Quigley formed Green Sky Strategy with other cannabis community leaders following four years of investing and strategic advisory roles to create the first cannabis strategy team that combines deep cannabis industry and consumer experience with proven Fortune 500 strategic thinking. A graduate of the University of New Hampshire, he serves on the board of the Science Museum of Virginia Foundation and on the board of trustees of the Virginia Foundation for Independent Colleges.
Al Reese – Independent Director
Mr. Reese has over 40 years experience in public and private businesses including as CFO of a formerly Nasdaq-listed public energy company where he helped arrange finance transactions totaling over $10 billion dollars. Mr. Reese has also been a Director and Chairman of the Audit Committee of a community bank in Texas for ten years until such time as it was acquired by a larger banking group in 2018. Mr. Reese has been a Certified Public Accountant since 1974 and received his Bachelor degree in Business Administration from Texas A&M in 1971, and his MBA from University of Houston in 1977. He has extensive experience at a senior level in financial services, finance transaction, investor relations, and more.
Dr. Philip Ainslie – Advisor
Dr. Ainslie is a Co-Director for the Centre for Heart, Lung and Vascular Health in Canada, Research Chair in Cerebrovascular Physiology and Professor at the University of British Columbia. His research is directed to the integrated mechanisms, which regulate human cerebral blood flow in health and disease with specific areas of interest including fundamental mechanisms of cerebral blood flow regulation, influence of environmental stress on cerebrovascular function.
Codebase Ventures
Investing Expertise and Capital in Blockchain Technologies
Overview
Codebase Ventures Inc. (CSE:CODE,FWB:C5B,OTCQB:BKLLF) makes strategic investments in emerging sectors and markets, including cannabis, technology and select cryptocurrencies. Codebase Ventures is led by a hands-on team of entrepreneurial and technology experts who invest in early-stage ideas. The team operates with the understanding that emerging sectors, like cannabis and technology, are evolving rapidly and can bring early opportunities for strategic investments.
Codebase Ventures has formed Code Cannabis Investments, which is focused on identifying cannabis assets and start-ups that require capital and expertise to accelerate their business models and scale to meet the demands of the market. Code Cannabis Investments intends to initially pursue investment opportunities in the North American cannabis market, but is expected to primarily focus on the UK. The subsidiary has since made moves to enter the US hemp-derived CBD market by moving to acquire a 45-acre certified-organic farm in New Berlin, New York.
As for the company’s technology strategy, Codebase Ventures has made strategic investments in four technology platforms: Pressland ICO Ranker, Arcology and Blockchain ranker. The company believes that blockchain technology can radically transform how business is conducted throughout the world. The company is based in Vancouver, British Columbia, and has expanded into the US through its wholly-owned subsidiary in the Silicon Valley, Codebase Ventures USA.
According to Codebase Ventures Chief Strategy Officer Jeff Koyen, “Blockchain is a shared ledger used to record transactions across a decentralized network of computers. ‘Decentralized’ is the key word here. Because they have no central authority figures, blockchains are governed by the network operators. Before any transaction is recorded to the ledger, a certain level of agreement must be reached by the entire network.”
Blockchain technology is being adopted across a number of industries, including banks and financial institutions. The market has grown faster than anticipated, and is expected to be worth US$23.3 billion by 2023, according to a report by Markets and Markets.
Unlike many companies in the blockchain landscape, Codebase Ventures’ focus is to invest in technologies that are using blockchain in varied and innovative ways. To this effect, the company has acquired or invested in companies that use blockchain to pursue its mandate. To date, Codebase Ventures has made strategic investments into five technology platforms: Pressland, ICO Ranker, Arcology, Blockchain ranker and SV Cryptolab.
This includes SV CryptoLab, a social hacker community space by day and a cryptocurrency mining operation by night; Pressland, an open-source media directory looking to relaunch as a blockchain-powered platform combating fake news; and Arcology, a blockchain platform expected to use machine-learning and pattern-recognition technology to create hierarchical blockchain structures.
The ICORanker.com and BlockchainRanker.com websites provide the company with access to the token industry. The sites act as a platform that vets and rates blockchain applications, services and software providers. Codebase Ventures has also initially invested $100,000 in ePIC Blockchain Technologies Inc., a blockchain processing hardware company that is developing scalable and energy-efficient mining tools and infrastructure to cryptocurrency miners.
In September 2021, Codebase completed the delivery of 115 Antminer S17+ 76Th Bit Mining units to their hosting facility in New York State. All 115 units are online and earning revenue. To date, the revenue from mining operations reached C$142,210 with facility operating costs of C$68,306. Codebase is currently holding 2.908 BTC with a market value of C$238,288 CAD.
Part of what sets Codebase Ventures apart from its peers is that the company entered the space early on and put together a knowledgeable management team that takes its time to properly assess potential deals. This team includes Jeff Koyen, who plays roles both as a strategic advisor to the head company and as President of Codebase Ventures USA. He brings with him 20 years of experience in technology journalism and a keen eye for determining viable opportunities for the company. His caliber is matched by his peers and together they lead the company with in-depth experience in multiple areas including business development, corporate finance, media, insurance and capital markets.
Codebase Ventures Company Highlights
- Early mover in funding blockchain technologies beyond cryptocurrencies.
- Has acquired or invested in companies that deploy blockchain-based technology.
- Recently-launched wholly-owned subsidiary in US led by experienced technology journalist Jeff Koyen.
- Code Cannabis Investments subsidiary invests in early-stage cannabis assets in North America and Europe.
- Code Cannabis Investments is in the process of acquiring farm land in New York to facilitate the company’s entrance into the US hemp-derived CBD market.
- Knowledgeable management team that makes well-researched and informed decisions regarding their acquisitions and investments.
- Codebase delivered 115 Bit Mining units and generated C$142,210 BTC revenue as of October 2021.
Code Cannabis Investments
Codebase Ventures’ subsidiary, Code Cannabis Investments, was formed to identify cannabis companies that require capital and expertise to accelerate their business models and scale to meet the demands of the market. The subsidiary intends to initially pursue investment opportunities in the North American cannabis market, but is expected to primarily focus on the UK and EU, especially in countries such as Germany, Spain, Italy, Greece and Malta.
According to a report by Consultancy EU, the European cannabis market is expected to reach 123 billion euros by 2028. The European CBD and medical cannabis markets offer cannabis companies numerous advantages due to Europe’s large population. In the UK alone, it is estimated that six million adults have used CBD and 11 percent of the population has consumed a CBD product within the last year.
“With our leadership team’s deep experience in the cannabis space, we believe that the UK is entering a period of acceptance for CBD and medicinal cannabis that was evident in Canada and North America five to seven years ago,” said Codebase Ventures President and CEO George Tsafalas. “That spells opportunity to our team, and on behalf of our shareholders, management and representatives have engaged in meetings in the UK specifically aimed at identifying and investing in early-stage companies in the space that can benefit from both our capital and expertise.”
Since its formation, Code Cannabis Investments has signed an LOI to acquire a 45-acre organic farm in New Berlin, New York. The company intends to grow organic hemp there and enter the hemp-derived CBD market in the US. In December 2018, the US Senate passed the Farm Bill which removed hemp as a Schedule 1 drug, creating a hemp-derived CBD market. According to a report by BDS Analytics and ArcView Market Research, the US CBD market is expected to reach US$20 billion by 2014.
CryptoLab: Mining and Community Building
In January 2018, Codebase Ventures acquired 60 percent of the outstanding shares in SV CryptoLab, a cloud-based cryptocurrency mining organization. Since then, the company has raised its ownership to 80 percent, exercising its right as part of the agreement.
Under the proposed agreement, Codebase Ventures would have the option to acquire the remaining 20 percent and keep on SV’s current CEO to lead the advancement operations as a key component of the company’s management team. During weekdays, SV would continue to run a part hacker part social space that hosts meetups. Meanwhile, during nights and weekends, the lab would use its computing power to conduct its cryptocurrency mining operations for the economic benefit of Codebase Ventures.
“We are excited to reach this milestone, completing our initial acquisition in the blockchain space, so that we can scale this concept,” said Tsafalas. “We are working to replicate SV CryptoLab’s business model, together with its proprietary evaluation algorithm, in other cities soon.”
Since the submission of the LOI for the original acquisition in November 2017, SV has further developed its cryptocurrency mining operations to include on-site Bitcoin mining, adding 370 ASIC microprocessors to its enterprise. Additionally, SV has also entered into contracts to mine Ethereum and Zcash, among other rapidly growing cryptocurrencies. Codebase Ventures has also indicated that it is exploring the possibility of opening a second location in the same format on the eastern coast of the US.
Pressland: Media Transparency Through Rewarded Crowdsourcing
In April 2018, Codebase Ventures acquired Pressland, a media directory and website focused on media transparency. Pressland was launched in 2015 and offers a crowdsourced directory of 20,000 media outlets and professionals. Pressland is led by Koyen, who brings over 20 years of journalistic experience. With the help of Codebase Ventures, Pressland’s mission is to provide the public with blockchain-powered tools that will help expose unreliable news items.
Pressland publishes its own digital publication, News-to-Table, which covers media trust and transparency. The publication releases up to five articles per week and recruits writers from its partner Study Hall, a global online community of over 2,000 journalists that offer resources, news, analysis and original reporting to its members. The partnership is also expected to increase industry awareness of Pressland’s mission to fight fake news.
“Today, thanks to the innovative power of blockchain technology and utilizing Codebase Ventures’ expertise and resources we have the unique opportunity to expand Pressland’s mission to debunking fake news and exposing unreliable players in the media,” said Tsafalas.
The platform will function as a reward economy built on its own cryptocurrency token. With the use of the token, Pressland community members will be incentivized to contribute intelligence and insights and verify data from media outlets and media figures. “This data will then power a suite of tools designed to debunk fake news on other platforms, such as Facebook,” said Koyen.
In May 2018, Pressland announced that it will be issuing its own transactional currency in the form of a blockchain-based cryptographic token. In July 2018, Pressland partnered with Token Agency for marketing purposes for its upcoming token sale.
“To run a successful token sale, it’s critical to communicate your project’s mission, goals and value proposition. This is no simple task in the buzzy world of crypto and blockchain,” said Koyen.
Additionally, Pressland has signed an LOI to form a commercial partnership with Membit Inc., the maker of the Membit augmented reality (AR) photo-sharing app for iOS. Membit will be using Pressland’s data to help verify original journalism produced on its platform. The two companies are also in discussion for jointly creating a platform for journalists to in the field that would allow journalists to validate and verify their reporting in the field.
In March 2019, Pressland announced its intent to develop the world’s first data management platform to fight fake news. The platform will use artificial intelligence (AI) and natural language processing to analyze the world’s news output. The company expects the platform to have applications in a variety of industries and will be made available to its partners and clients under SaaS licenses. Pressland expects to launch the platform in 2020.
“We’re building an enterprise service for global media companies, social media networks and other third parties fighting the spread of misinformation online,” said Koyen. “This is a highly scalable, disruptive technology that will serve the public interest by stopping the spread of fake news.”
To this aim, Pressland has partnered with iO Ventures LLC, a developer of a hyper-personal device that delivers custom news, user-centric learning and on-demand wellness information. The two companies will be working together to verify trustworthy news before distributing it to iO’s users.
Pressland has also signed an LOI to form a commercial partnership with OutVoice, a freelance payment option for publishers that can be integrated directly into content management systems. The focus of the partnership is to drive client engagement in the media-tech space by reducing inefficiencies. Pressland also expects the partnership to accelerate the company’s time-to-market for its SaaS offerings. The company will use OutVoice to pay its contributors to its ICORanker and Blockchain Ranker websites.
Arcology: Providing Hierarchical Structures to Blockchain
In April 2019, Codebase Ventures increased its equity stake in Arcology, a first-of-its-kind blockchain platform from Alberta, Canada, to 30 percent. Subject to the terms of the agreement, the investment would increase up to $2 million for 51 percent of the company.
Arcology is a blockchain platform that utilizes machine-learning and pattern-recognition technology to develop hierarchical blockchain structures that solve common market problems including speed and scalability. Arcology has been designed to be more scalable and ‘intelligent’ than the current leader in its market, Ethereum.
“In identifying this opportunity, Codebase Ventures will help advance blockchain technology to where it needs to be in a decade, not just years, from now,” said Tsafalas. “The blockchain revolution is just beginning, and we’re proud to be at its forefront.”
As of April 2018, Arcology has recruited a team of experts from the fields of AI, machine learning and biologically inspired adaptive network design to build new blockchain technologies that will address the inefficiencies in the current platforms on the market and compliments Archology’s current blockchain platform. Revenue from this project will come from a variety of traditional sources, such as subscriptions, licensing and consulting fees.
Arcology has been testing its blockchain-enabled data handling offering. The tests were able to prove that it is possible to eliminate restrictions that have made distributed databases and blockchain technology incompatible. Arcology can also take advantage of parallel data insertion and querying on multiple databases by incorporating a distributed database. However, the most significant findings highlighted an increase in network speed and reliability across a distributed model and that data storage on Arcology’s blockchain network would be 100 times cheaper and faster. Arcology expects to begin public testing of the new offering in the coming months.
Arcology has also integrated Ethereum virtual machines into its proprietary blockchain technology, allowing developers to move their existing apps, dApps and other assets to Arcology without issue. By offering third parties greater speed, scale and efficiency, Arcology intends to become the platform of choice for enterprise and industrial-grade developers.
ICORanker.com
In July 2018, Codebase Ventures acquired the iCORanker.com and BlockchainRanker.com websites with a suite of professional services and marketing data for $1.75 million in cash and stock. BlockchainRanker.com vets and rates blockchain platforms, services and software providers and will relaunch under Codebase Ventures’ management.
“Acquiring ICORanker is our entry to the lucrative world of token analysis, ratings and recommendations,” said Koyen. “The token sale ecosystem has a bright future, and we’re excited to take ICORanker to the next level of profitability.”
According to a report published by PwC, token sales have raised $13.7 billion in the first five months of 2018 which has doubled the totals from 2017.
Since acquiring the website, Codebase Ventures has broadened the scope of ICORanker.com. The website no longer focuses exclusively on ICOs and now offers marketing services to all token sales, such as initial exchange offerings (IEOs) and security token offerings (STOs). ICORanker also has expanded its news coverage to increase the site’s reputation and visibility.
Codebase Ventures’ Additional Investments and Acquisitions
NOS Blockchain Inc. Joint Venture
In November 2017, Codebase Ventures entered into a joint venture agreement with NOS Blockchain Inc., which provides the company with first right of refusal on all NOS blockchain technologies. NOS is a subsidiary of Nerds On Site Inc., which specializes in providing cost-effective, leading-edge solutions to small and medium-sized enterprises. The company has a client base of over 12,000 and a customer satisfaction rating of 96.5 percent.
“Codebase Ventures has invested $100,000 in NOS to accelerate the development and implementation of NOS’s existing, advanced blockchain technologies,” said Tsafalas. “The leadership team at NOS Blockchain Inc. has an extensive track record of success, building a technology company from the grassroots into a market leader in the IT solutions space. Their advanced stage blockchain technologies are the basis of our decision to structure a joint venture and invest $100,000 at this time.”
ePIC Blockchain Technologies Inc.
In January 2018, Codebase Ventures initially invested $100,000 in ePIC Blockchain Technologies Inc., a blockchain processing hardware provider. ePIC is focused on designing scalable and energy-efficient cryptocurrency mining tools and infrastructure. Currently, ePIC is designing a cryptocurrency chip that is specifically designed for bitcoin mining that should be able to go to market by Q4 2018.
“Codebase Ventures has invested $100,000 in ePIC to accelerate the development of ePIC’s purpose-built cryptocurrency mining chip,” said Tsafalas. “ePIC has a defined focus that resonates strongly with our team. The infrastructure required to mine cryptocurrencies represents a massive business opportunity and we are focused on finding start-up technologies that can empower the blockchain revolution and deliver significant results to our shareholders.”
Codebase Ventures’ Management Team
George Tsafalas — President, CEO and Director
George Tsafalas has extensive experience in senior operational management, corporate business development and corporate finance in the private and public sectors and is an entrepreneur. Currently he is a Senior Partner at Stadnyk and Partners Inc. He specializes in the execution of strategic budget plans and monitors the development of the portfolio programs, including review of the financial objectives and milestones. He has over ten years of senior management experience in the oil and gas sector, as well as in the hospitality industry and professional sports sectors. He has experience in the attraction of private equity capital, including angel investment groups and firms and has assisted in several successful equity capital fundraising efforts.
Jeff Koyen — Chief Strategy Officer
Jeff Koyen is an award-winning journalist and entrepreneur who has been active in cryptocurrency and blockchain as an investor and trader since 2014. As a media strategist and advisor, Koyen is valued for his keen eye for weak signals, emerging trends and early discovery, and he has a proven track record of launching new digital properties for both startups and legacy media companies.
Morie Shacker — Director
Brian D. Keane—Director
Brian Keane serves as a Consultant at Stadnyk and Partners Inc in New York, New York and formerly served as its Managing Director. He has over 17 years of capital markets, investing and C-level consulting experience. He has invested in, advised upon or restructured over 75 emerging growth companies in the US, Canada, Caribbean and Asia, representing over $2 billion in transaction value. He has advised several buy-side investment funds and worked at investment banks including: Rodman & Renshaw, LLC, Ladenburg Thalmann & Co and TechVest. He earned a Bachelor of Science degree from the University of Scranton and a Juris Doctor from New York Law School.
Tatiana Kovaleva—CFO
Tatiana Kovaleva has extensive experience working in the capital markets. Over the last 20 years she has served in the capacity of Chief Financial Officer for multiple publicly traded companies.
Naturally Splendid
Leader in the Science and Technology of Hemp-based Health Products
Overview
Naturally Splendid Enterprises Ltd. (TSXV:NSP,OTCQB:NSPDF,FWB:50N) was formed in 2010 with a strategy to take hemp nutrition more into the mainstream as a consumer product. The superfood hemp has a fantastic nutritional profile of protein, omegas and micro-nutrients.
In 2013, Naturally Splendid began test marketing various versions of their own branded hemp products in Vancouver. The brand evolved into NATERA Hemp Foods and since 2013 has been sold across Canada and Australia and into the USA and Germany.
In 2015, Naturally Splendid acquired CHII Hemp Food, which formed in 1998, making it one of Canada’s original hemp food companies. CHII remains aligned with Naturally Splendid’s vision of plant-based nutrition. Later that year, Naturally Splendid lead the Canadian charge into South Korea, exporting over 1.25 million pounds of hempseed in 2016.
In 2016, Naturally Splendid acquired 100 percent of Prosnack Natural Foods, a nutritious bar producer located in BC, Canada, that specializes in manufacturing plant-based bars. Prosnack operates a Safe Quality Food (SQF) manufacturing facility in Pitt Meadows], producing plant-based bars and bites for Naturally Splendid’s brands, as well as providing contract manufacturing services to multiple regional, national and international clients that are also focused on delivering plant-based nutrition.
Naturally Splendid pursued a Processor License in 2017, which would have allowed the company to manufacture cannabidiol (CBD) fortified bars and bites as Naturally Splendid considered CBD as just another plant-based ingredient. However, regulations in Canada and abroad did not evolve as the industry was expecting. As a result, this project is suspended indefinitely, and the company instead focusing its resources on the much larger market of plant-based nutrition.
From 2013 to 2016, Craig Goodwin and Bryan Carson held senior management roles that guided the company to its most successful year in 2016. With the dynamic growth during that time, including sales growing over 20 times from 2015 to 2016, it was decided that additional senior management would be beneficial, and Craig and Bryan cooperatively stepped down from their senior positions.
From that time until 2019, the two remained fully engaged with Naturally Splendid, guiding the growth of Prosnack Natural Foods, the building out of the SQF certified food manufacturing facility, as well as the growth of the NATERA brand family of products.
In September of 2019, it was decided that Mr. Goodwin would once again take the role of CEO and President, and shortly after that Mr. Carson stepped into the position of CFO, adding to his role as VP of Operations.
Throughout 2020, Naturally Splendid made a number of strategic decisions to put the company in a better position for significant growth in the near and long term in order to focus on the plant-based opportunities it had identified.
In February 2020, Naturally Splendid launched Pro Curc 30 under the NATERA Sport banner. Pro Curc 30 is a plant based anti-inflammatory supplement that uses a Biologic Pharmamedical patented technology to extract curcuminoids from curcumin.
Pro Curc 30 has proven so effective that recently, Naturally Splendid entered into a joint venture named Plasm Pharmaceutical with Biologic Pharmamedical to conduct a Health Canada approved phase 2 clinical trial as a potential treatment for COVID-19 using the target JV owned drug Cavaltinib™. The drug is an amplified variant of the Pro Curc 30 product, meaning it is a plant-based medicine.
The company signed an exclusive sales and distribution agreement with one of Australia’s most popular plant-based manufacturers for an extensive line of plant-based, meat-alternative products.
Naturally Splendid has come to terms with BettaLife Global Food Solutions of Australia for the exclusive sales and distribution rights for Canada, for a wide range of plant-based, meat-alternative products. The company has also been granted sales and distribution rights to access the United States market.
In North America, Naturally Splendid will market this product line under the brand NATERA Plant Based Foods.
Although most consumers are aware of plant-based burgers, the NATERA Plant Based Food line offers consumers far more choices than most plant-based food manufacturers in North America.
NATERA Plant Based Foods have over 20 SKUs ready to go for the North American market, and the products will begin to be systematically rolled out over the next 6 months. The company is launching 6 of the 20 products into retail beginning October 2020. The NATERA Plant Based Foods retail line will include: Burgers, Schnitzel, Kiev, Sweet Chili Tenders, Nuggets and Garlic Cheese Bites.
NATERA Plant Based Foods will offer a range of plant-based alternatives for: beef, chicken, pork, fish and shellfish. In each category there are multiple products, which provides significant choice for consumers looking to include plant-based foods into their eating habits.
NATERA Plant Based Foods is currently available for food service and is preparing for their retail launch targeted for Q4 2020.
In tandem with this, Naturally Splendid announced in October 2020 that Summit Specialty Foods is the first distributor of NATERA Plant Based Foods. Summit Speciality Food distribution regions include Save-On-Foods, Price Smart, Urban Fare, Quality Greens, Safeway, Whole Foods, Askews Foods, Buy Low Foods, Choices Markets, London Drugs and Natural Markets Food Group.
Additionally, Naturally Splendid has confirmed adequate line processing time with the manufacturer to meet current needs into Q2 of 2021. The companies have begun discussions about building out a manufacturing facility in Canada to meet anticipated consumer demand for these market disrupting products.
Naturally Splendid CEO, Mr. J. Craig Goodwin stated, “Naturally Splendid began with the idea that plant-based diets are good for people and the planet. Our initial products were hemp based, given hemp boasts such an impressive nutritional profile of protein and omegas. The acquisition of Prosnack Natural Foods afforded the opportunity to become a manufacturer of nutritious plant-based bars and bites. And more recently we entered a joint venture, Plasm Pharmaceutical, to pursue a Health Canada approved phase 2 clinical trial for the curcumin-based target drug Cavaltinib™, which incorporates a patented extraction technology. In essence, a plant-based medicine. And now, with our launch of NATERA Plant Based Foods, the Company is positioned to distribute delicious plant-based meals to a wide range of consumers in this rapidly growing category. Throughout these diverse opportunities, plant-based products have remained central to our strategy, as they will moving forward.”
Naturally Splendid evolved into more than a hemp company as third party processing has opened numerous opportunities in the dynamically growing plant-based nutrition market, a market that is currently estimated at US$4.8 billion and forecast to grow to US$85 billion by 2030.
Supporting this strategy, Naturally Splendid has been systematically developing a food manufacturing business that produces its own company-branded products as well as contract manufactures nutritious, mostly plant-based, meat alternatives, bars, and bites for well-known brands across the North American market and abroad.
Naturally Splendid’s Company Highlights
- Aims to improve overall health and wellness through the development of sustainable, functional and renewable plant-based products for the global food and beverage industries
- Portfolio of award-winning product lines developed with a science and technology-based approach with commercialized proprietary HempOmega® technology and provisional patent for hemp protein isolate in US
- Established distribution to over 2,000 stores in North America
- Exporting retail products, bulk and plant-based ingredients to Australia, Asia and Europe
- Established retail presence in various industries including health and wellness, skincare, pet care, superfoods and more
- Multiple revenue streams including retail, wholesale, bulk and private label
- Over 20,000 square feet of space dedicated to production and distribution
- The NATERA Sport KEY-TO Life bars generated over C$285,000 in sales within the first three months of the line’s official launch date.
- Summit Specialty Foods is the company’s first distributor of NATERA Plant Based Foods.
- Positioned for rapid growth in the plant-based food sector as an established and recognized plant-based food manufacturer
- Plant-based nutrition currently estimated at US$4.8 billion and forecast to grow to US$85 billion by 2030.
- Received Notice of Authorization from Health Canada to proceed with a Phase 2 clinical trial for a potential COVID-19 treatment utilizing the target drug Cavaltinib™.
INDVR Brands
INDVR Brands Inc, formerly Cannabis One Holdings Inc is focused on providing personnel and management resources as well as infrastructure and equipment for use in the production, cultivation and dispensary operations of licensed cannabis businesses. It provides support services to licensed cannabis businesses.