Flower One Provides Corporate Update Including Planting Update of the Largest Cultivation Facility in Nevada
The Company has made significant operational progress on many fronts including:
A. Conversion of 400,000 Square Feet of Greenhouse Cultivation Capacity
In May of last year, the Company began a 12-month process of converting the largest commercial greenhouse in Nevadafor large-scale hydroponic cannabis cultivation. The conversion is now approximately 95% complete, and is expected to be fully completed on schedule.
The Company has now hit an important milestone as it has initiated the onboarding of plants into its greenhouse. To date, the Company has achieved the following cultivation milestones:
- Two climate-controlled, spectrum adjustable cutting cells are in full operational mode and have rooted more than 100,000 cannabis cuttings (small plants).
- In the greenhouse, the Company has constructed three expansive, multi-density ebb and flood zones, which are now fully populated with plants.
- The greenhouse has been designed to have eight large “flower” zones. Once fully canopied, the greenhouse is expected to operate on a perpetual cycle of harvesting one zone per week (representing, on average, 10,000 plants per harvest). To date, we are 50% canopied, with four of the eight zones planted, amounting to 200,000 square feet of plants.
We anticipate that the Company’s inaugural Zone One harvest will commence in June, 2019. Once fully canopied, the Company should be capable of producing over 140,000 lbs (or 62,500 kg) of dry flower annually, and will house in the eight flower zones over 80,000 plants per crop cycle.
B. Construction of 55,000 Square Foot Post-Harvest, Extraction and Packaging Facility
The construction of the Company’s production facility is progressing.
The Company has now completed the buildout of the initial 15,000 square feet of this facility, including a fully automated wetting line, pruning line and two high-tech cutting cell rooms.
The exterior construction of the additional 40,000 square foot, two-story structure was completed in March 2019. The Company has now commenced the internal work to support the installation of the post-harvest, extraction and packaging line technology.
The Company plans to accelerate operations in the coming months to support the inaugural Zone One harvest in the Company’s flagship greenhouse cultivation facility.
C. Building a Strategic Portfolio of Brand Partners: Eight Brands and Counting
The Company’s business model is focused on leveraging the scale of its cultivation and production capabilities to become the leading brand-fulfillment partner in Nevada. For established cannabis brands looking to build national prominence and gain Nevada market share, having a retail shelf presence in the unique and growing Las Vegas and state-wide market is paramount.
To this end, the Company is committed to delivering turnkey solutions and superior quality to support all of our Brand Partners. The Company can provide seed-to-retail-ready product that is custom packaged and delivered to retail with a commitment to consistent, reliable, high-volume delivery to meet our Brand Partners’ requirements.
The Company is in the process of assembling a very strong roster of Brand Partners, having announced eight such Brand Partners already in 2019.
Flower One’s Growing Brand Partners
Rapid Dose Therapeutics: RDT has developed a proprietary, fast-dissolve cannabis delivery technology. This smoke-free technology represents a unique delivery platform that is both discrete and easy to use which makes it very compelling for the tourism-driven Nevada cannabis and CBD market.
Flyte Concentrates: As a distillate brand, Flyte Concentrates is best known for its two product lines: FlytePen and JetPack. FlytePen is a slim distillate vaporizer system with a cartridge containing 0.8ml of premium cannabis oil. Using a proprietary process and formulation, the FlytePen can rapidly vaporize the thickest and most purified cannabis oils.
In addition, Flyte JetPacks are convenient single-dose 10ml liquid THC or CBD shots, about 2mm thick and about the size of a credit card. The contents of the package can be added to any hot or cold beverage for a discreet experience.
Old Pal: Known for being one of the fastest growing cannabis brands in California, the Old Pal suite of products is primarily pure, dried, packaged, shareable flower. The products are available in three varieties: Indica, Sativa, and Hybrid. Already the lowest cost provider of legal cannabis in California, the partnership with Flower One will reinforce the value-oriented positioning of the Old Pal brand. Old Pal’s half ounce, pre-ground rolling kit is an all-in-one convenient cannabis solution for consumers on-the-go and includes branded rolling papers that uniquely pay homage to cannabis culture circa 1960s and 1970s.
Palms: Another California based cannabis brand, Palms is about providing a thoughtful experience with the casual and recreational consumer in mind. Their products lines such as ‘Social’ and ‘Chill’, ensures that consumers are able to find a product that speaks to their experience level and knowledge base. Palms’ ‘Social’ sativa pre-roll features a sour tangie strain with a distinct citrus scent and flavor. The ‘Chill’ indica hybrid pre-roll induces a relaxing experience, featuring a taffie strain with subtle citrus flavors blended with hints of caramel.
HUXTON: Arizona-based HUXTON, is known for their knowledge in cannabis science and terpene chemistry. They focus on using premium strains and uniquely formulate each of HUXTON’s blended product categories, HIFI, RISE and ZEN, which Flower One will be launching in Nevada. Each VIBE product series is labeled by “how it will make you feel,” allowing consumers to easily pick their desired experience. Great market positioning for consumers visiting Las Vegaswho are often looking to experiment and sample new brands. Flower One will be making HUXTON’s experience-based products available in Nevada in pre rolls, flower tins, and vape pens.
CannAmerica Brands: From one of the United States’ true cannabis pioneers has emerged Colorado-based CannAmerica Brands and its signature Fruit Juice Gummies and Super Soft Gummies products. With their partnership with Flower One will come new and improved formulas which will be categorized according to three flavour profiles: sweet (strawberry banana, peach, orange sherbet), sour (blue raspberry, cherry, bomb pop) and a sweet and sour combination. In addition, new, sleek packaging will also be part of the brand partnership with Flower One in order to drive brand consistency in Nevada and across all of CannAmerica Brands’ markets.
Grenco Science: California-based Grenco Science are pioneers in the cannabis hardware space, responsible for engineering the advanced technology behind the internationally-available and ever popular G Pen line of cannabis vaporizers. The ability to innovate is key in the cannabis hardware space and Flower One sees the launch G Pen’s new Gio vaporizer as revolutionizing the cannabis experience to align with a modern lifestyle. The Gio is a draw-activated concentrate vaporizer that is intuitive, portable, and accessible, and features a cutting-edge cartridge system with an optimized heating temperature and integrated airpath for maximum vaporization, and consistent, smooth, and flavorful pulls.
The Medicine Cabinet: An ultra-premium house of brands, The Medicine Cabinet aims to offer the most discerning consumers a variety of high end, boutique-style recreational products and brands, including: Don Pablo’s signature line of hand rolled Premium Classics and Premium Exotics, Bomb Girl’s sleek selection of pre-rolled Baby J’s, and Slims, and for the connoisseur, Coffeeshop Classics, a premium packaged flower brand.
Management believes that having a mix of brands and product offerings that cover a diverse consumer spectrum is very important to the Company, as it will allow Flower One to respond to consumer expectations and desired experiences across the full pricing and product category matrix.
Management expects that the Company’s portfolio of Brand Partners will continue to grow and give the Company an expanding and diversified mix of product, stock keeping units (SKUs) and delivery platforms, including packaged flower, pre-rolls, oils, distillates, concentrates, gel caps, vaporizers, edibles and topical to deliver greater choice and brand diversity – something that both consumers and Nevada cannabis retailers expect as the market continues to grow and mature.
D. Transforming the Company’s 25,000 Square Foot Indoor Cultivation & Production Facility
The Company continues to maximize the full suite of human talent, resources and assets at its 25,000 square foot indoor cultivation and production facility (originally acquired from NLV Organics Inc.). The Company’s cultivation team has executed on the project of growing and transferring the initial plant material from the Company’s indoor facility to the greenhouse.
With the completion of the transfer of plant material to the greenhouse, the Company’s intended use of the indoor facility will now focus on:
- Testing and trialing new cannabis strains prior to scaling their cultivation at our greenhouse.
- Preservation and vaulting of our ever-expanding genetic bank, which currently comprises a library of over 100 unique cannabis strains.
- Craft cultivation of select strains to support our Brand Partners and any strategic, limited run SKUs.
- Select processing and production of Brand Partner SKUs.
The Company’s goal is to create a high-performing research centre, aimed not only at accelerating the diversification of cannabis strains for Nevada’s growing recreational market, but to better support the successful expansion and product lines of our Brand Partners.
E. Retail Channel Filling: The Benefits of Scale
With the Company’s cultivation, production and Brand Partner efforts advancing on schedule, the Company is increasingly turning its attention to working closely with Nevada’s expanding retailers.
To this end, in March the Company launched Old Pal in the Nevada market and the Company is now working toward launching SKUs for all of our Brand Partners in Nevada, including Flyte Concentrates and CannAmercia Brands, whose launch is currently expected to occur in this second quarter.
To support the Company’s retail channel filling efforts, the Company plans to lease and open two new facilities:
- A 4,000 square foot Sales Office to house the Company’s Nevada sales and marketing team, which is also expected to include a call center and showroom to display the range of product SKUs the Company will be producing for its Brand Partners.
- A 30,000 square foot Pre-Packaging and Inventory Management Facility that would be responsible for managing the logistics and supply chain management of the Company’s Brand Partners product packaging, hardware and ancillary labelling materials.
We are also pleased to announce the hiring of long-time Nevadan Debbie Bingham as the Director of Sales and Marketing for Flower One’s Nevada operations. Debbie brings a depth of experience in business development, sales, marketing, business unit planning and channel and partner development to the Flower One team. Previously, Debbie was an integral part of growing Vegas.com into a US$300M company through her knowledge of executing a range of B2B and B2C business strategies.
F. Company Financings and Exchange Traded Funds (ETFs)
In February, the Company completed a US$30M lease equipment facility, with US$20M being drawn down to date. This provides the Company with additional financial flexibility to be responsive in managing the Company’s growth plan in Nevada and beyond.
In March, the Company completed its first prospectus offering as a public company for a total raise of CAN$57.5M (including full exercise of over-allotment option). We have used and plan to use these funds for the ongoing construction and development of our flagship greenhouse and production facility, working capital and general corporate purposes.
These successful financings were followed more recently by three Exchange Traded Funds (ETFs) taking positions in the Company. These ETFs are the Horizons U.S. Marijuana ETF, the Horizons Emerging Marijuana Growers Index ETF, and the Evolve U.S. Marijuana ETF.
This has been a period of positive operational performance for the Company. The Board, Advisory Team and Management wish to acknowledge and express our sincere thanks to the entire Flower One team for the passion and tireless commitment to deliver results for the Company. We have a best-in-class team and are extremely proud of all that they have accomplished to date.
On behalf of our Board, Advisory Team, and Management, we also wish to express our ongoing gratitude to you for being a valued shareholder and for sharing our vision of Flower One.
President and CEO
Flower One Holdings Inc.
Cautionary Note Regarding Forward Looking Information
Statements in this press release that are not statements of historical or current fact constitute “forward looking information” within the meaning of Canadian securities laws and “forward looking statements” within the meaning of United States securities laws (collectively, “forward-looking statements”). Such forward-looking statements involve known and unknown risks, uncertainties, and other unknown factors that could cause the actual results of the Company to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms “believes,” “belief,” “expects,” “intends,” “anticipates,” “potential,” “should,” “may,” “will,” “plans,” “continue” or other similar expressions to be uncertain and forward looking. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
Forward-looking statements may include, without limitation, statements relating to the successful execution of the Company’s strategy, including its plan to become the leading brand fulfillment partner in Nevada, the Company’s ability to complete the conversion of the greenhouse on schedule, the expected operation and perpetual cycle harvesting zone of the Company’s greenhouse, the timing of Flower One’s inaugural Zone One harvest, the production and housing capacity of the Company once fully canopied, potential accelerated operations of the 55,000 Square Foot Post-Harvest, Extraction and Packaging Facility, the Company’s ability to incorporation new brand partners and develop new products, the continued growth, maturity and retail sales of the cannabis sector in Las Vegas and, more broadly, in Nevada, and the United States, the Company’s ability to consistently meet its Brand Partners requirements, the effect of the Company on its Brand Partners’ brands, the focus of the Company’s indoor facility, the Company’s ability to create a high-performing research centre, the Company’s ability to achieve scale cultivation, the Company’s ability to launch SKUs for all of its Brand Partners, the Company’s ability to open new sales and marketing and pre-packaging and inventory management facilities, the Company’s ability to raise further capital and the confidence the capital markets will express in supporting Flower One’s overall business plan, future profitability, , dividends, volume and pace of anticipated catalysts for the Company, new opportunities, future growth and production, potential return on equity, date of completion of the processing facility, future retail presence and potential benefits of retail strategy, and potential capabilities of the cultivation and processing facility in Nevada.
The Company is indirectly involved in the manufacture, possession, use, sale and distribution of cannabis in the recreational and medicinal cannabis marketplaces in the United States through its subsidiary Cana Nevada Corp. Local state laws where Cana Nevada Corp. operates permit such activities; however, these activities are currently illegal under United States federal law. Additional information regarding this and other risks and uncertainties relating to the Company’s business are contained under the heading “Risk Factors” in the Company’s short form prospectus dated March 22, 2019 filed on its issuer profile on SEDAR at www.sedar.com.
Although Flower One has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to: dependence on obtaining regulatory approvals; investing in target companies or projects that are engaged in activities currently considered illegal under United States federal law; changes in laws; limited operating history; reliance on management; requirements for additional financing; competition; hindering market growth and state adoption due to inconsistent public opinion and perception of the medical-use and adult-use marijuana industry and; regulatory or political change.
The forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement, the “Forward-Looking Statements” section contained in the Company’s most recent management’s discussion and analysis (“MD&A”), which are available on SEDAR at www.sedar.com. All forward-looking statements in this press release are made as of the date of this press release. The Company does not undertake to update any such forward-looking statements whether as a result of new information, future events or otherwise, except as required by law. The forward-looking statements contained herein are also subject generally to assumptions and risks and uncertainties that are described from time to time in the Company’s public securities filings with the Canadian securities commissions, including the Company’s most recent MD&A.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR THEIR REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
For further information: Investor Relations & Media: NATIONAL Capital Markets, 416.848.9835, firstname.lastname@example.org; Flower One Holdings Inc.,Ken Villazor, President and CEO, 416.913.9642, email@example.com
Health and wellness products company finalizes deal to co-manufacture CBD- and THC-infused beverages for St. Peter’s Drinks
Diversified health and wellness, beverage and natural products company, BevCanna Enterprises Inc . ( CSE:BEV , Q:BVNNF , FSE:7BC ) (“ BevCanna ” or the “ Company ”) announced today that it has signed a definitive agreement with St. Peter’s Drinks, to co-manufacture CBD and THC-infused beverages for its international beverage brand, Green Monké (“Green Monké”). This is the third white-label agreement that BevCanna has signed since receipt of its Standard Processing License , following on the heels of agreements recently signed with State B Beverages and Enthusiasmus .
St. Peter’s Drinks is employing BevCanna’s white-label partnership model, which allows non-licensed partners to enter the Canadian cannabis market seamlessly and compliantly. St. Peter’s Drinks will leverage BevCanna’s extensive experience in producing beverages at scale as well as its recently announced Canadian Sales License partnership for distribution to provincial buying groups. The white-label agreements, including the Green Monké contract, are subject to minimum order quantities.
St. Peter’s Drinks’ Green Monké brand is a cannabis beverage brand well-established in the United Kingdom. Launched in 2018, Green Monké became the #1 selling cannabis beverage in the U.K. by 2019 and launched in California in the spring of 2021.
“St. Peter’s Drinks is a perfect fit for our white-label partnership program,” said Melisa Panetta, President of BevCanna. “They’re able to fully leverage our full-service solution, including our ability to manufacture beverages at scale and our licensed manufacturing and distribution vertical. We’re excited that they’re bringing a top selling brand to Canada and have chosen BevCanna as a key partner to get them to market.”
“We’re also very pleased with the strong response to our co-manufacturing services and are continuing to build our pipeline of clients,” noted Ms. Panetta. ”This is the third Canadian cannabis deal that we’ve finalized recently, with more to come.”
“We’ve been looking for the right partner to help us produce our beverages for the Canadian market,” said Pat Gleeson, President and CEO of St. Peter’s Drinks. “After an extensive search, we found that BevCanna is a well-run organization capable of producing high-quality beverages at scale and well positioned to support us in our national distribution efforts. We’ve developed a unique brand identity that we’re eager to execute on, and BevCanna is the ideal partner to bring it to life in Canada.”
About BevCanna Enterprises Inc.
BevCanna Enterprises Inc . ( CSE:BEV , Q:BVNNF , FSE:7BC ) is a diversified health & wellness beverage and natural products company. BevCanna develops and manufactures a range of plant-based and cannabinoid beverages and supplements for both in-house brands and white-label clients.
With decades of experience creating, manufacturing and distributing iconic brands that resonate with consumers on a global scale, the team demonstrates an expertise unmatched in the nutraceutical and cannabis-infused beverage categories. Based in British Columbia, Canada, BevCanna owns a pristine alkaline spring water aquifer and a world–class 40,000–square–foot, HACCP certified manufacturing facility, with a bottling capacity of up to 210M bottles annually. BevCanna’s extensive distribution network includes more than 3,000 points of retail distribution through its market-leading TRACE brand, its Pure Therapy natural health and wellness e-commerce platform, its fully licensed Canadian cannabis manufacturing and distribution network, and a partnership with #1 U.S. cannabis beverage company Keef Brands .
About St. Peter’s Drinks
St. Peter’s Drinks is a Canadian-based craft beverage maker. They create drinks that harness the power of plants to support health and wellness. Through partnerships with beverage industry experts, they are bringing popular international brands to Canada, Mexico and the United States. In Spring 2021, St. Peter’s launched Green Monké THC “happy sodas” in California with plans to launch Green Monké across Canada, in partnership with BevCanna, in Summer 2021. St. Peter’s will also launch two other plant-powered drink lines across the U.S. this fall, being Green Monkey, the UK’s top-selling hemp extract drink, and a line of ultra-premium iced teas in partnership with internationally renowned Dilmah Teas.
On behalf of the Board of Directors:
John Campbell, Chief Financial Officer and Chief Strategy Officer
Director, BevCanna Enterprises Inc.
Disclaimer for Forward-Looking Information
This news release contains forward-looking statements. All statements, other than statements of historical fact that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future are forward-looking statements. Forward-looking statements in this news release include statements regarding: the agreement with St. Peter’s Drinks and its terms and anticipated benefits; that the Company will enter into additional similar agreements; consumer preferences for cannabis products like beverages; and other statements regarding the business plans of the Company. The forward-looking statements reflect management’s current expectations based on information currently available and are subject to a number of risks and uncertainties that may cause outcomes to differ materially from those discussed in the forward-looking statements.
Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, undue reliance should not be put on such statements due to their inherent uncertainty. Factors that could cause actual results or events to differ materially from current expectations include, among other things: general market conditions; inability to enter into additional agreements on terms favourable to the Company or at all; changes to consumer preferences; and volatility of commodity prices; and other factors beyond the control of the Company. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
For media enquiries or interviews:
Wynn Theriault, Thirty Dash Communications Inc.
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Avicanna Inc. (“ Avicanna ” or the “ Company “) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN), a biopharmaceutical company focused on the development, manufacturing and commercialization of plant-derived cannabinoid-based products announces that Janet Giesselman has resigned from her role as an independent director of the Company to pursue other opportunities.
The Company thanks Ms. Giesselman for her service and her contributions and wishes her all the best in her future endeavours. The board of directors of the Company is actively engaged in the search for a suitable candidate to fill the vacancy.
About Avicanna Inc.
Avicanna is a diversified and vertically integrated Canadian biopharmaceutical company focused on the research, development, and commercialization of plant-derived cannabinoid-based products for the global consumer, medical, and pharmaceutical market segments.
SOURCE Avicanna Inc.
For more information about Avicanna, visit www.avicanna.com, call 1-647-243-5283, or contact Setu Purohit, President by email at firstname.lastname@example.org .
Cautionary Note Regarding Forward-Looking Information and Statements
This news release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information contained in this press release may be identified by the use of words such as, “may”, “would”, “could”, “will”, “likely”, “expect”, “anticipate”, “believe, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook” and other similar expressions, and includes statements with respect to the Company’s ability find and appoint a suitable candidate for its board of directors. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors relevant in the circumstances, including assumptions in respect of current and future market conditions, the current and future regulatory environment; and the availability of licenses, approvals and permits.
Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information. Such risks and uncertainties include, but are not limited to current and future market conditions, including the market price of the common shares of the Company, and the risk factors set out in the Company’s annual information form dated April 15, 2020 and final short form prospectus dated November 27, 2020, filed with the Canadian securities regulators and available under the Company’s profile on SEDAR at www.sedar.com .
The statements in this press release are made as of the date of this release. The Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
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A renowned global bank with wealth management options has elected to block some cannabis trades from clients as part of its de-risking efforts after recent issues.
Also this week, a Canadian cannabis producer announced its intention to buy a retail operator managing nearly 100 stores in the country.
Keep reading to find out more cannabis highlights from the past five days.
Credit Suisse de-risking efforts leave cannabis out
Credit Suisse Group (NYSE:CS) clients have been unable to make some cannabis trades since March, a report from Reuters shows. The firm moved forward with a new risk management strategy after losing billions as a result of a blunder with Archegos Capital Management.
The initial list of cannabis companies blocked by Credit Suisse includes popular multi-state operators (MSOs) based in the US. These companies operate primarily out of the US, but are public on Canadian exchanges due to current American federal restrictions on the cannabis business.
Bloomberg reported that cannabis exchange-traded funds, and the shares of Canadian licensed producers Canopy Growth (NASDAQ:CGC,TSX:WEED), Aurora Cannabis (NASDAQ:ACB,TSX:ACB) and Tilray (NASDAQ:TLRY), were not on the list of blocked trades.
Experts have previously told the Investing News Network that US cannabis is the currently the most exciting aspect of the industry. At the same time, the federal status of the drug continues weigh down these names even as federal cannabis policy regulation in the country looks closer than ever.
So far it remains unclear whether the cannabis names already trading on senior US exchanges, mostly Canada-based operators, will be able to fully capitalize on any federal changes to cannabis rules.
Many experts do not expect sweeping cannabis legalization in the US, and are instead anticipating a piecemeal adjustment that would make it possible for MSOs to graduate to American exchanges.
Cannabis M&A keeps sizzling with producer buying retailer
Inner Spirit manages the Spiritleaf network of retail stores and currently oversees 86 stores across Canada. According to the firm, it will hold over 100 stores by the summer.
“Inner Spirit has successfully created a franchise-based retail network that has grown from coast to coast and offers a differentiated and premium in-store experience to consumers,” Sundial CEO Zach George said in a statement after the news was released.
The two companies expect to see the transaction close sometime in Q3 of this year. Per each share held, Inner Spirit investors will get a combination of $0.30 in cash and 0.0835 of a Sundial common share.
Cannabis company news
- Organigram Holdings (NASDAQ:OGI,TSX:OGI) confirmed a change in management, saying Greg Engel will stop being CEO of the company. Chairman Peter Amirault will now serve as executive chairman and will oversee the company while the search for a new CEO goes on.
- PharmaCielo (TSXV:PCLO,OTCQX:PCLOF) issued its financial results for Q4 2020 as well as the full 2020 year. CEO Henning von Koss highlighted that the company has streamlined operations after a tumultuous 2020, alongside completing an extraction center.
- High Tide (TSXV:HITI,OTCQB:HITIF) announced the purchase of an 80 percent stake in hemp-derived CBD product manufacturer FABCBD. The firm touts an ecommerce platform with direct sales to consumers representing approximately 124,000 orders in 2020.
- Bhang (CSE:BHNG,OTCQX:BHNGF) obtained a management cease trade order as the firm anticipates a delay to its year-end financial filings.
Don’t forget to follow us @INN_Cannabis for real-time updates!
Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.
– Lexaria recently announced favorable data on its first animal study, as well as the commencement of its first human clinical study, under its 2021 hypertension R&D program
Kelowna, British Columbia TheNewswire – May 7, 2021 Lexaria Bioscience Corp. (Nasdaq:LEXX) (Nasdaq:LEXXW) (CSE:LXX) (CNSX:LXX.CN) (the “Company” or “Lexaria”), a global innovator in drug delivery platforms, today announced that CEO Chris Bunka is presenting at the Benzinga Global Small Cap Conference to be held on May 13-14, 2021. Complimentary investor registration can be accessed through the conference link below.
Presentation date: Thursday, May 13, 2021
Presentation time: 3:50 p.m. ET / 12:50 p.m. PT
Event registration link: Benzinga Global Small Cap Conference
Mr. Bunka will provide an overview of the Company, including its DehydraTECH™ drug delivery technology that improves the way active pharmaceutical ingredients enter the bloodstream. He will also discuss Lexaria’s applied R&D programs that are evaluating the delivery effectiveness of DehydraTECH-processed cannabidiol (CBD) for hypertension, antiviral applications for SARS diseases and other infectious diseases, and multiple new markets, as well as provide updates on the progress of these studies.
The Benzinga Global Small Cap Conference, a showcase for small-cap investing, will be held in an entirely virtual setting. Designed to bridge the gap between small-cap companies, investors and traders, the Conference will enable executive leadership of companies to network and communicate with a broad and diverse global investor audience.
About Lexaria Bioscience Corp.
Lexaria Bioscience Corp.’s proprietary drug delivery technology, DehydraTECH™, improves the way active pharmaceutical ingredients (APIs) enter the bloodstream by promoting healthier oral ingestion methods and increasing the effectiveness of fat-soluble active molecules, thereby lowering overall dosing. The Company’s technology can be applied to many different ingestible product formats, including foods, beverages, oral suspensions, tablets, and capsules. DehydraTECH has repeatedly demonstrated since 2016 with cannabinoids and nicotine the ability to increase bio-absorption by up to 5-10x, reduce time of onset from 1 – 2 hours to minutes, and mask unwanted tastes; and is planned to be further evaluated for orally administered bioactive molecules, including anti-virals, cannabinoids, vitamins, non-steroidal anti-inflammatory drugs (NSAIDs), and nicotine. Lexaria has licensed DehydraTECH to multiple companies including a world-leading tobacco producer for the development of smokeless, oral-based nicotine products and for use in industries that produce cannabinoid beverages, edibles, and oral products. Lexaria operates a licensed in-house research laboratory and holds a robust intellectual property portfolio with 18 patents granted and approximately 60 patents pending worldwide. For more information, please visit www.lexariabioscience.com .
This press release includes forward-looking statements. Statements as such term is defined under applicable securities laws. These statements may be identified by words such as “anticipate,” “if,” “believe,” “plan,” “estimate,” “expect,” “intend,” “may,” “could,” “should,” “will,” and other similar expressions. Such forward-looking statements in this press release include, but are not limited to, statements by the company relating the Company’s ability to carry out research initiatives, receive regulatory approvals or grants or experience positive effects or results from any research or study. Such forward-looking statements are estimates reflecting the Company’s best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that the Company will actually achieve the plans, intentions, or expectations disclosed in these forward-looking statements. As such, you should not place undue reliance on these forward-looking statements. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation and regulatory approvals, managing and maintaining growth, the effect of adverse publicity, litigation, competition, scientific discovery, the patent application and approval process, potential adverse effects arising from the testing or use of products utilizing the DehydraTECH technology, the Company’s ability to maintain existing collaborations and realize the benefits thereof, delays or cancellations of planned R&D that could occur related to pandemics, and other factors which may be identified from time to time in the Company’s public announcements and periodic filings with the US Securities and Exchange Commission on EDGAR. There is no assurance that any of Lexaria’s postulated uses, benefits, or advantages for the patented and patent-pending technology will in fact be realized in any manner or in any part. No statement herein has been evaluated by the Food and Drug Administration (FDA). Lexaria-associated products are not intended to diagnose, treat, cure or prevent any disease. Any forward-looking statements contained in this release speak only as of the date hereof, and the Company expressly disclaims any obligation to update any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise, except as otherwise required by law.
Copyright (c) 2021 TheNewswire – All rights reserved.
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Harvest Announces Settlement with Pennsylvania Department of Health Regarding Grower Processor Permittee AGRiMED Industries LLC
Harvest Health & Recreation Inc. (“Harvest”) ( CSE: HARV OTCQX: HRVSF ), a vertically integrated cannabis company and multi-state operator in the U.S., today announced a settlement agreement has been reached for Agrimed Industries of PA, LLC (“AGRiMED”). The membership interests of AGRiMED are owned by Harvest Health and Recreation Inc.
On May 6, 2021 , the Pennsylvania Department of Health, Office of Medical Marijuana and AGRiMED reached a settlement agreement concerning the operation of AGRiMED, a medical marijuana grower processor facility in Southwestern Pennsylvania. The settlement agreement allows for the conditional renewal of AGRiMED’s permit and will allow for the increased production of medical marijuana in Southwestern Pennsylvania , which will help serve patients across the Commonwealth.
About Harvest Health & Recreation Inc.
Headquartered in Tempe, Arizona , Harvest Health & Recreation Inc. is a vertically integrated cannabis company and multi-state operator. Since 2011, Harvest has been committed to expanding its retail and wholesale presence throughout the U.S., acquiring, manufacturing, and selling cannabis products for patients and consumers in addition to providing services to retail dispensaries. Through organic license wins, service agreements, and targeted acquisitions, Harvest has assembled an operational footprint spanning multiple states in the U.S. Harvest’s mission is to improve lives through the goodness of cannabis. We hope you’ll join us on our journey: https://harvesthoc.com
This press release may contain “forward-looking statements” regarding Harvest’s business strategies or prospects, which may be identified by the use of words such as, “may”, “would”, “could”, “will”, “likely”, “expect”, “anticipate”, “believe, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook” and other similar expressions. Such statements include, but are not limited to, the following: our ability to resolve existing and future litigation, regulatory actions and arbitrations on acceptable terms; our growth potential in our core cannabis markets and the sustainability of such growth; our ability to successfully and timely execute our business and operational plans; the development of favorable federal and state cannabis regulatory frameworks in the United States applicable to multi-state cannabis operators; and adverse changes in the public perception of cannabis. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, including assumptions in respect of current and future market conditions. Actual results, performance or achievement could differ materially from that expressed in, or implied.
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SOURCE Harvest Health & Recreation Inc.
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