Algae Dynamics (OTCQB:ADYNF), a relatively new company announced it has entered into a partnership (August 16) with a Canadian Licensed Producer (LP) to expand the use of their oil extraction technology and the development of cannabis oil products.
Algae signed a letter of intent with private LP Bonify, as part of this deal Algae will see its product travel north for research purposes at The University of Waterloo. This partnership is set to last for three years to starts with an option to renew it. Paul Ramsay, chairman president and CEO of Algae said the company expects initial revenue within six to nine months after the financing gets completed.
“We believe this [deal] gives us an improved pathway to early revenues as well as a reliable high-quality source of cannabis oil for the universities to support our important algae-cannabis oil research,” Ramsay said in the company’s press release.
Below are the terms of this deal according to Algae:

  • The purchase and installation of cannabis oil extraction equipment by the Company in Bonify’s facility.
  • The processing of cannabis material supplied by Bonify and other Licensed Producers in the oil extraction facility.
  • The supply of cannabis oil and algae omega-3 oils to The University of Waterloo and University of Western Ontario to support the Sponsored Research Agreements that the Company has in place with the two universities.
  • The sharing of direct expenses, and, after adjustment for the market value of cannabis material supplied by Bonify and third parties, sharing of revenues from the sale of cannabis oil and algae-cannabis oil products.



Due to the deal, Algae said it won’t be moving forward with a previously announced joint venture with Avanti Rx Analytics
The president and CEO of Bonify said they see many benefits of partnering with “innovative companies” like Algae.
Algae sells itself as a cannabis company doing business in Canada with no exposure to regulations from the US. The company combines the collaboration with cannabis extraction in order to develop hemp and algae oil “premium products.”
The company plans to apply for an oil extraction and licensed grower license with Health Canada, the country’s authority in regulated cannabis and cannabis-related products.

Investor Takeaway

While Algae is a young and significantly small company in the cannabis landscape, its capability to land research deals with both the University of Waterloo and the University of Western Ontario should provide investors with an interesting proposal. This partnership could represent a solid step for this small company seeking its space in the marketplace.
At the market close on Wednesday, shares of Algae Dynamics increased 14.29 percent over a one-day period to $0.08.
Don’t forget to follow us @INN_Cannabis for real-time news updates!
Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.

Strong Innovation Pipeline Continues to Drive Market Share Growth
Broken Coast’s First Foray into Cannabis 2.0
Solei Introduces First Limited Release Vape on the Market
Solei, RIFF, Good Supply and B!NGO Expand Product Offerings

Aphria Inc. (” Aphria ” or the ” Company “) ( TSX: APHA and NASDAQ: APHA ), a leading global cannabis company inspiring and empowering the worldwide community to live their very best life, today announced the expansion of its 510 Vape offering across its award-winning adult-use brand portfolio.

Keep reading... Show less

Zhang Investor Law announces a class action lawsuit on behalf of shareholders who bought shares of Aurora Cannabis Inc. (NYSE: ACB) between February 13, 2020 and September 4, 2020, inclusive (the “Class Period”). If you wish to serve as lead plaintiff, you must move the Court before the December 1 2020 DEADLINE . A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

To join the class action, go to http://zhanginvestorlaw.com/join-action-form/?slug=aurora-cannabis-inc&id=2437 or call Sophie Zhang, Esq. toll-free at 800-991-3756 or email info@zhanginvestorlaw.com for information on the class action.

Keep reading... Show less

Nextleaf Solutions Ltd. (CSE: OILS) (OTCQB: OILFF) (“Nextleaf Solutions“, “OILS”, or the “Company”), Canada’s most innovative cannabis extractor, is pleased to provide the following commercial and intellectual property update:

Cannabis Extraction Agreement with White Label Producer

Keep reading... Show less

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Khiron Life Sciences Corp. (“ Khiron ” or, the “ Company ”) (TSXV: KHRN), (OTCQB: KHRNF), (Frankfurt: A2JMZC), a vertically integrated cannabis leader with core operations in Latin America and Europe, is pleased to announce that it has closed today its previously announced “bought deal” short form prospectus offering of units (“ Unit s ”), including the exercise in full of the over-allotment option (the “ Offering ”).

Keep reading... Show less

Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) (“Cronos Group” or the “Company”), an innovative global cannabinoid company, today announced that Mike Gorenstein, Executive Chairman, is scheduled to speak on a panel at the Cowen 2020 Boston Cannabis Conference on Wednesday, December 2, 2020 at 9:20 a.m. EST.

For more information regarding the Cowen 2020 Boston Cannabis Conference please visit: https://www.cowen.com/conferences-and-events/3rd-annual-boston-cannabis-conference/

Keep reading... Show less