Alternate Health is a hemp-derived cannabidiol (CBD) producer developing a variety of branded products. The company confirmed on Tuesday (August 27) that Whitaker, along with his law firm, Graves Garrett, will coordinate legal matters and develop a legal strategy for the company as it expands.
Whitaker served as the acting attorney general of the US from November 2018 until February 2019, when US President Donald Trump nominated William Barr to fill the position, replacing Whitaker. Prior to that, he served as the US attorney for the Southern District of Iowa.
In a press release, Whitaker said he is looking forward to the challenge of advising Alternate Health’s management team.
“I think there is serious potential in the CBD industry, and everyone at Alternate Health will work hard to be a leader in the industry,” Whitaker added.
In the announcement, company president Dr. Robert Blaine said it is “essential” that Alternate Health stay ahead of the curve as the legal environment surrounding CBD changes with new government and FDA regulations.
“We believe (Whitaker’s) experience in government and the Department of Justice is a significant asset as we move forward,” Blaine said.
The former attorney general will also be tasked with leading the company’s efforts to investigate the actions of a California-based competitor in Canada.
Scott Holtby, vice president of communications for Alternate Health, told the Investing News Network (INN) he cannot divulge any details about the investigation.
The press release also says that Alternate Health will be divesting its cannabis assets and focusing completely on hemp-derived CBD.
This decision follows in the footsteps of an announcement in May that indicated the company would be refocusing its assets towards the booming hemp-derived CBD industry in the US.
Holtby added that, due to the illegal status of cannabis and the passing of the farm bill last year, which legalized the production of hemp and its derivatives, the CBD market currently has great potential.
“The way we see the next couple of years is that, due to the legal environment surrounding (marijuana), we think the most amount of opportunity for our products and our system will be in CBD,” he told INN.
Recently, Whitaker and his firm also became outside counsel for PC Matic, a cybersecurity company, and Whitaker is now managing director of political consultancy Clout Public, a division of Axiom Strategies.
Whitaker’s months-long stint as head of the US Department of Justice was undercut with judgment for close business ties with Trump and criticism of the investigation into Russian interference in Trump’s rise to the presidency.
Alternate Health generated C$1.9 million in revenue during its Q2 2019 earnings season.
The company’s share price opened at C$0.17 on Tuesday before rising to C$0.18, its high of the day, and then dropping back to its opening price. As of 2:39 p.m. EDT, it had dropped by 2.86 percent.
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Securities Disclosure: I, Danielle Edwards, hold no direct investment interest in any company mentioned in this article.
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BioHarvest Sciences Inc. Unveils the Unique Polyphenolic Content of Its Upcoming Olive-Based Nutraceutical
The product will include polyphenols known to have significant health benefits.
BioHarvest Sciences Inc. (CSE: BHSC) (“BioHarvest” or the “Company”) has reached an important milestone in its development program of additional Nutraceuticals. The olive-based Nutraceutical product scheduled for market availability in the second half of 2022 will contain the following unique matrix of polyphenols: hydroxytyrosol, trosol, and verbascoside. These compounds are the major polyphenols in naturally grown olives and are responsible for the high antioxidant activity of olives and olive oil. Importantly, the BioHarvest olive-based Nutraceutical product will provide all the benefits of olives and olive oil with a low calorie count per serving.
Numinus Bioscience adds Ketamine and LSD to licence to produce, assemble and sell a wide variety of psychedelic compounds
Numinus Wellness Inc. (“Numinus” or the “Company”) (TSXV: NUMI ), a global leader in supporting and expanding the safe, accessible and evidence-based use of psychedelic-assisted psychotherapies (PAP), has received new amendments under Canada’s Controlled Drugs and Substances Act that enhance the Company’s ability to lead psychedelics research and support the global psychedelics sector.
Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco” or the “Company”), one of the largest vertically integrated multistate cannabis operators in the United States, announced today that it will report financial results for the fourth quarter and full year ended December 31 st , 2020 on Thursday March 25 th , 2021 before the market opens.
The Company will host a conference call and webcast to discuss its financial results and provide investors with key business highlights on Thursday March 25 th , 2021 at 8:30am Eastern Time (7:30am Central Time).
Canopy Growth to Participate in BofA Securities Virtual Consumer & Retail Technology Conference on March 11, 2021
Canopy Growth Corporation (TSX: WEED) (NASDAQ: CGC) (“Canopy Growth” or “the Corporation”) announced today that EVP & CFO Mike Lee will be participating in a fireside chat at the BofA Securities Virtual Consumer & Retail Technology Conference on Thursday, March 11, 2021 at 9:30am ET .
Hill Street Beverage Company Inc. (TSXV: BEER) (“Hill Street” or the “Company”). The Company announces that further to its press release dated March 2, 2021, it has obtained TSX Venture Exchange approval to extend the closing date of its previously announced private placement of units (“Units”) until April 7, 2021. Each Unit is comprised of one (1) common share and one (1) warrant, exercisable for one common share at price of $0.11 per share, for a period of three (3) years from the date of Closing. The Company applied to extend the date of closing to allow a greater number of interested investors to participate.
For more information regarding the Company or the offering, please contact firstname.lastname@example.org, or