Auxly Cannabis Group (TSXV:XLY) completed a strategic investment into Kaneh Bosm BioTechnology (CSE:KBB) along with a commercial rights agreement with the company.

As quoted in the press release:


The Transaction provides Auxly access to a significant and established portfolio of international cannabis licences, assets and distribution networks. As a result of the Transaction, Auxly believes that it has substantially accelerated its entry into numerous international cannabis markets and partnered with an ambitious team focused on future growth.

Kaneh Bosm, through its subsidiaries, has a number of agreements and licences in place related to pharmaceutical distribution, wholesale importation, research and development, cultivation, production, storage, and exportation of cannabis and cannabis derivatives. In particular, Kaneh Bosm has agreements in place to supply a European-based pharmaceutical distributor with a network of 35,000 pharmacies in 16 countries, in addition to working interests in industrial hemp licences in Greece and wholly-owned licences to cultivate, produce, distribute, store, and export cannabis in Colombia, the Kingdom of Lesotho, and Denmark. In addition, Kaneh Bosm is actively pursuing further cannabis licences and related infrastructure in other international jurisdictions where cannabis is legal for medical or non-medical purposes. Kaneh Bosm intends to use the net proceeds from the Investment to begin its growth and development under the strategic alliance with Auxly, as well as for working capital and general corporate purposes.

Pursuant to the terms of the Investment, Auxly has subscribed for $5 [million] of senior unsecured convertible debentures (the “Debentures”) of Kaneh Bosm by way of a non-brokered private placement. The Debentures bear a coupon of 8.00 [percent] and have a maturity date of September 17, 2021. The Debentures can be converted into units (each a “Unit”), at the option of the Company, at a price of C$0.53 per Unit. Each Unit consists of one common share of Kaneh Bosm and one common share purchase warrant exercisable into one common share of Kaneh Bosm at an exercise price of $1.06 for a period of three years.

Click here to read the full press release.

Source: globenewswire.com

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