A Canadian cannabis company with an international focus has fully acquired its Australian division in an all-share deal.
On Tuesday (July 23), MPX International (CSE:MPXI,OTC Pink:MPXOF) announced the purchase the remaining stake in MPX Australia it does not already own for C$4 million worth of shares.
The deal will cost MPX just over 7 million common shares. These shares will be granted in three separate blocks based on achieved milestones by the Australian division.
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According to MPX, the full payment of shares will be staggered based on material achievements completed by MPX Australia, including the issuance of a cannabis license, the completion of its Launceston facility and a successful first harvest.
Scott Boyes, chairman, president and CEO of MPX, said in a press release that the company will now run operations in seven international markets: Canada, Australia, South Africa, Malta, Switzerland, England and Israel, where it will be part of a joint venture.
The executive added that this acquisition will be the basis for MPX to serve the Asian cannabis markets.
The Australian division of MPX is currently pursuing a medical cannabis license from the Australian Office of Drug Control to operate a facility to be built in Tasmania.
A projection from an analyst earlier this year indicates the Australian medical cannabis market will generate revenues of AU$36 million by the end of 2019.
The research, put together by Matthijs Smith, an analyst with Canaccord Genuity’s (TSX:CF) division in Australia, also projects that 11,600 new patients will be registered for medical cannabis use in 2019. “Our back-of-the-envelope calculations suggest that up to 500,000 Australians may benefit from using cannabis products for medical purposes,” he said.
Shares of MPX closed at a price of C$0.42, representing a decline of 1.17 percent, during Tuesday’s trading session. As of Wednesday’s (July 24) opening bell, the decline in value continued as the company took a loss of 1.19 percent.
MPX was formed after its predecessor, MPX Bioceutical, merged with iAnthus Capital Holdings (CSE:IAN,OTCQX:ITHUF). The merger was designed to apply only to MPX’s US-based cannabis assets.
At the time, the all-stock merger between the US division of the company and iAnthus allowed MPX to begin exploring business operations at the international stage.
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Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.
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Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco Labs” or the “Company”), a vertically integrated multistate operator and the number one U.S. wholesaler of branded cannabis products and Bluma Wellness Inc. (“Bluma Wellness”), a vertically integrated operator in Florida, today announced the closing of the Company’s previously announced acquisition of Bluma Wellness.
Transaction Highlights
– Cresco Labs now has meaningful operations in 10 states.
– The Company’s footprint includes all 7 of the top-10 most populated states in the country with cannabis programs.
– Florida, with more than 525,000 1 medical cannabis patients and a state population greater than 21 million people, represents one of the largest absolute growth opportunities among cannabis markets.
– Bluma Wellness’ competitive advantages in Florida include one of the state’s only cultivation facilities producing ultra-premium quality flower as well as a differentiated retail model including strategic, high-volume storefronts and an omnichannel sales platform.
– Operations include 8 dispensaries strategically located around the state, offering same-day delivery and curbside pickup. 7 more dispensaries are currently in permitting and/or are under construction.
– 54,000ft 2 of cultivation in Indiantown is currently under expansion and will continue to deliver premium craft flower at greater scale to support additional store openings and expanded product offerings.
“The closing today represents yet another strategic acquisition in a top-5 market that is true to our strategy – building the most strategic geographic footprint and achieving material market share positions within each state. Cresco Labs and Bluma Wellness have proven track records of operational execution and together have key advantages for growth and a clear pathway to scale. We look forward to amplifying operations and executing our playbook in Florida this year and in the years to come.” said Charlie Bachtell, CEO and Co-Founder of Cresco Labs.
“We couldn’t be more excited to begin working with Cresco Labs to execute our shared vision for aggressive expansion in Florida,” said Brady Cobb, CEO of Bluma Wellness. “Cresco’s deep operational efficiency and relentless focus on quality, combined with Bluma’s best-in-state cultivation operations and innovative approach to retail, creates the perfect operating environment for our continued success in Florida.”
Transaction Details
The acquisition was completed by way of a plan of arrangement (the “Arrangement”) under the provisions of the Business Corporations Act (British Columbia). Pursuant to the terms of the Arrangement, holders of common shares of Bluma Wellness (“Bluma Shares”) received 0.0859 subordinate voting shares of Cresco Labs (“Cresco Shares”) for each Bluma Share held. In total, Cresco Labs acquired 184,814,281 Bluma Shares, representing all of the issued and outstanding Bluma Shares, in exchange for 15,875,449 Cresco Shares.
It is anticipated that the Bluma Shares will be delisted from the Canadian Securities Exchange (“CSE”) as of the close of trading on April 14, 2021, and Bluma intends to submit an application to the applicable securities regulators to cease to be a reporting issuer and to terminate its public reporting obligations.
Pursuant to the letter of transmittal mailed to shareholders of Bluma Wellness as part of the materials in connection with the special meeting of Bluma Wellness shareholders held on March 19, 2021, in order to receive the portion of the Cresco Shares to which they are entitled, registered holders of Bluma Shares are required to deposit their share certificate(s) or DRS statements representing their Bluma Shares, together with a duly completed letter of transmittal, with Odyssey Trust Company, the depositary under the Arrangement. Shareholders whose Bluma Shares are registered in the name of a broker, dealer, bank, trust company or other nominee must contact their nominee to deposit their Bluma Shares.
About Cresco Labs Inc.
Cresco Labs is one of the largest vertically integrated multistate cannabis operators in the United States, with a mission to normalize and professionalize the cannabis industry. Employing a consumer-packaged goods (“CPG”) approach, Cresco Labs is the largest wholesaler of branded cannabis products in the U.S. Its brands are designed to meet the needs of all consumer segments and comprised of some of the most recognized and trusted national brands including Cresco, High Supply, Mindy’s Edibles, Good News, Remedi, Wonder Wellness Co. and FloraCal Farms. Sunnyside, Cresco Labs’ national dispensary brand, is a wellness-focused retailer created to build trust, education and convenience for both existing and new cannabis consumers. Recognizing that the cannabis industry is poised to become one of the leading job creators in the country, Cresco Labs operates the industry’s largest Social Equity and Educational Development initiative, SEED, which was established to ensure that all members of society have the skills, knowledge and opportunity to work and own businesses in the cannabis industry. Learn more about Cresco Labs at www.crescolabs.com .
Forward Looking Statements
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company’s control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as, ‘may,’ ‘will,’ ‘should,’ ‘could,’ ‘would,’ ‘expects,’ ‘plans,’ ‘anticipates,’ ‘believes,’ ‘estimates,’ ‘projects,’ ‘predicts,’ ‘potential’ or ‘continue’ or the negative of those forms or other comparable terms and includes, but is not limited to, statements relating to the expected timing by which Bluma Wellness will be de-listed from the CSE and the intention to apply to have Bluma Wellness cease to be a reporting issuer and terminate its public reporting obligations. The Company’s forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including but not limited to those risks discussed under “Risk Factors” in the Company’s Annual Information Form for the year ended December 31, 2020 dated March 26, 2021, and other documents filed by the Company with Canadian securities regulatory authorities; and other factors, many of which are beyond the control of the Company. Readers are cautioned that the foregoing list of factors is not exhaustive. Because of these uncertainties, you should not place undue reliance on the Company’s forward-looking statements. No assurances are given as to the future trading price or trading volumes of Cresco Labs’ shares, nor as to the Company’s financial performance in future financial periods. The Company does not intend to update any of these factors or to publicly announce the result of any revisions to any of the Company’s forward-looking statements contained herein, whether as a result of new information, any future event or otherwise. Except as otherwise indicated, this press release speaks as of the date hereof. The distribution of this press release does not imply that there has been no change in the affairs of the Company after the date hereof or create any duty or commitment to update or supplement any information provided in this press release or otherwise.
1 Florida Office of Medical Marijuana
View source version on businesswire.com: https://www.businesswire.com/news/home/20210414005892/en/
Media:
Jason Erkes, Cresco Labs
Chief Communications Officer
press@crescolabs.com
Investors:
Jake Graves, Cresco Labs
Manager, Investor Relations
investors@crescolabs.com
For general Cresco Labs inquiries:
312-929-0993
info@crescolabs.com
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Construction of New Facility Under Way
TransCanna Holdings Inc. (CSE: TCAN) (FSE: TH8) (“TransCanna” or the “Company”) is pleased to announce the appointment of commercial farming and construction expert, Josh Baker, to its Board of Directors today.
The appointment comes in conjunction with the Company’s first draw down of its recently secured $2M construction loan. Mr. Baker is the US-based lender’s nominee to the Board, who will provide guidance and stewardship while the loan is deployed to increase production capacity at the Company’s Daly Facility in Modesto, California.
Mr. Baker brings a wealth of relevant experience to the Board. He is a 6th generation farmer local to the Central Valley, with decades of experience building and operating commercial and residential family farms, giving him an intimate understanding of everything that goes into agricultural construction and how to optimally and efficiently grow and market crops.
As the Board Member representing the lender’s interests, Mr. Baker will monitor the construction project and confirm when each phase is complete.
Phase One, currently underway, includes the construction of a 6,000 sq ft vegetative room, and five new cultivation rooms that can produce up to 200 lbs of harvest every two weeks.
“I’m extremely excited to join TransCanna, and would not have joined if I didn’t see the tremendous potential here,” said Mr. Baker. “The $2M construction loan will help bring it to profitability, and I really see it becoming one of the greatest cannabis companies in California in the next three years.”
Bob Blink, Company CEO, said, “Everyone has hit the ground running with this new loan. As of today, we already have new construction workers at the facility, and expect to have plants in the new cultivation rooms within the next three weeks.”
MCTO Update
The Company wishes to provide an update with respect to the previously announced Management Cease Trade Order (the “MCTO”) issued by the British Columbia Securities Commission on March 31, 2021. The MCTO was issued in connection with the delay by the Company in filing its annual financial statements, management’s discussion and analysis and related officer certifications for the financial year ended November 30, 2020 (collectively, the “Required Filings”) before the prescribed deadline of March 30, 2021. The Company continues to work closely with its auditor and expects to file the Required Filings on or before May 31, 2021.
The Company is providing this status update in accordance with National Policy 12-203 Management Cease Trade Orders (“NP 12-203”). The Company intends to follow the provisions of the Alternative Information Guidelines set out in NP 12-203, including the issuance of bi-weekly default status reports in the form of news releases. The Company confirms as of the date of this news release that there has been no material change in the information contained in the announcement issued on April 1, 2021, and there is no other material information concerning the affairs of the Company that has not been generally disclosed.
About TransCanna
TransCanna Holdings Inc. is a California-based, Canadian-listed company building cannabis-focused brands for the California lifestyle, through its wholly-owned California subsidiaries.
TransCanna‘s wholly owned subsidiary Lyfted Farms is California’s authentic cannabis brand whose pioneering spirit has been continuously providing the finest cannabis flower genetics and cultivation methods since 1984. The Lyfted Farms brand of exclusive cannabis flower is sold at premium retailers throughout the state. With its new cultivation facility in Daly, California, the company is now poised to become one of the largest and most efficient vertically integrated cannabis companies in the California market.
For further information, please visit the Company’s website at www.transcanna.com or email the Company at info@transcanna.com.
On behalf of the Board of Directors
Bob Blink, CEO
Corporate Communications:
irteam@transcanna.com
604-800-3589
FORWARD-LOOKING INFORMATION:
Certain information in this release may contain forward-looking statements, such as statements regarding future expansions and cost savings and plans regarding production increases and financings. This information is based on current expectations and assumptions, including assumptions concerning the completion of the expansion of the Daly Facility, government approval of pro-cannabis policies, greater access to financial services and increased cultivation capacity, that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Risks that could cause results to differ from those stated in the forward-looking statements in this release include unexpected increases in operating costs, a continued strain on farmers due to fires and the Coronavirus pandemic and competition from other retailers. All forward-looking statements, including any financial outlook or future-oriented financial information, contained in this release are made as of the date of this release and are included for the purpose of providing information about management’s current expectations and plans relating to the future. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements unless and until required by securities laws applicable to the Company. Additional information identifying risks and uncertainties is contained in the Company’s filings with the Canadian securities regulators, which filings are available at www.sedar.com.
Neither the Canadian Securities Exchange (“CSE”) nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/80466
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– Virtual Investor Conferences and KCSA Strategic Communications today announced the agenda for the upcoming KCSA Cannabis Industry Virtual lnvestor Conference. Individual investors, institutional investors, advisors and analysts are invited to attend. The program opens at 10:15 AM ET, with the first live webcast at 10:30 AM ET, on Tuesday, April 20 th .
REGISTER NOW AT: https://bit.ly/329Ti0Y
It is recommended that investors pre-register and run the online system check to expedite participation and receive event updates. There are no fees to log-in, attend the live presentations or ask questions.
April 20 th Agenda:
|
Eastern |
Full Company |
Ticker(s) |
|
10:30 AM |
IM Cannabis Corp. |
(NASDAQ: IMCC | CSE: IMCC) |
|
11:00 AM |
Aleafia Health Inc. |
(OTCQX: ALEAF | TSX: AH) |
|
11:30 AM |
Clever Leaves Holdings Inc. |
(NASDAQ: CLVR, CLVRW) |
|
12:00 PM |
(OTCQX: FFNTF | CSE: FFNT) |
|
|
12:30 PM |
Fire & Flower Holdings Corp. |
(OTCQX: FFLWF | TSX: FAF) |
|
1:00 PM |
The Valens Company Inc. |
(OTCQX: VLNCF | TSX: VLNS) |
|
1:30 PM |
Slang Worldwide Inc. |
(OTCQB: SLGWF | CSE: SLNG) |
|
2:00 PM |
ManifestSeven Holdings Corp. |
(Pink: MNFSF | CSE: MSVN) |
|
2:30 PM |
Stem Holdings, Inc. |
(OTCQX: STMH | CSE: STEM) |
|
3:00 PM |
Australis Capital Inc. |
(OTCQB: AUSAF | CSE: AUSA) |
|
3:30 PM |
Experion Holdings Ltd. |
(OTCQB: EXPFF | TSX-V: EXP) |
|
4:00 PM |
Sugarbud Craft Growers Corp. |
(OTCQB: SBUDF | TSX-V: SUGR) |
|
4:30 PM |
Fiore Cannabis Ltd. |
(OTCQX: FIORF | CSE: FIOR) |
To facilitate investor relations scheduling, for more information about the program and to view a complete calendar of Virtual Investor Conferences, please visit
www.virtualinvestorconferences.com .
About Virtual Investor Conferences SM
Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly-traded companies to meet and present directly with investors.
A real-time solution for investor engagement, Virtual Investor Conferences is part of OTC Market Group’s suite of investor relations services specifically designed for more efficient Investor Access. Replicating the look and feel of on-site investor conferences, Virtual Investor Conferences combine leading-edge conferencing and investor communications capabilities with a comprehensive global investor audience network.
About KCSA Strategic Communications
KCSA Strategic Communications ( www.kcsa.com ) is a fully-integrated communications agency specializing in public relations, investor relations, social media and marketing with expertise in financial and professional services, technology, healthcare, cannabis, media and energy companies. Since 1969, the firm has demonstrated strategic thinking and program execution that drives results for its clients in the ever-changing communications and digital landscape. The firm’s clients are its best references.
View original content to download multimedia: http://www.prnewswire.com/news-releases/cannabis-industry-investor-conference-company-executives-present-april-20th-301268630.html
SOURCE VirtualInvestorConferences.com
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Launching Digital Sales Platform
Global Wellness Strategies Inc. (CSE: LOAN) (FSE: O3X4) (OTCQB: PNNRD) (formerly Redfund Capital Corp.) (“Global” or the “Company”) announces KaleidoMyco agreement with digital marketing firm The Wolf of Marketing to launch digital sales platform.
KaleidoMyco is about the creation of a strong bond with online consumers and bucking the trend of having to go to stores during the new wave of Covid 19. Building a robust digital sales platform to immediately roll out new hemp extract infused functional mushroom SKUs is the first stage of building a trailblazer in myco wellness products.
The Wolf of Marketing was founded by Adam Stamatis, a full-service marketing agency that helps companies build an online presence and drive growth and sales. Within 20+ years, The Wolf of Marketing has become the industry’s leader for building user-friendly custom websites with time-tested digital strategies that focus on customer acquisition and retention. Adam Stamatis and The Wolf of Marketing team are excited to partner with KaleidoMyco and help identify gaps, create a better web platform, and build a customized strategy that aligns with our unique business needs.
“Creating the #1 global brand of hemp extract infused myco products is foremost to KaleidoMyco. This signing represents a major collaboration for KaleidoMyco, working together closely with Adam and his team to help build the revenues of the company. The Wolf of Marketing has the experience we’ve been looking for because they worked with top-hemp companies and increased their ROI.” Stated Meris Kott, CEO, Global Wellness Strategies Inc.
About KaleidoMyco
KaleidoMyco is the world’s first company combining hemp extract, adaptogens and myco based ingredients to produce world-class, data-driven, science-based wellness products. It is dedicated to driving ground-breaking innovations in the production and delivery of myco derived formulations. KaleidoMyco has a team of experts who are actively working to lay the foundation in the psilocybin space as more developments in regulation become available.
About Global Wellness Strategies
Global Wellness Strategies is a prospect generator that provides high growth companies with financial, operational, and management assistance in the fast-growing market for wellness consumer products. The focus of the Company is on global wellness, hemp and CBD, healthcare-related target companies.
For further information please visit out website : www.globalwellnessstrategies.com
Or Contact Meris Kott CEO 604.484.0355 or email to info@globalwellnessstrategies.com
Further information about the Company is available on www.SEDAR.com under the Company’s profile.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. Certain statements contained in this release may constitute “forward-looking statements” or “forward-looking information” (collectively “forward-looking information”) as those terms are used in the Private Securities Litigation Reform Act of 1995 and similar Canadian laws. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated”, “anticipates” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the business of the Company, its financing and certain corporate changes. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/80391
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An Emerging Markets Sponsored Commentary
Health and wellness, beverage and natural products company BevCanna Enterprises Inc. (CSE:BEV, Q:BVNNF, FSE:7BC) recently announced that following the appointment of former Pepsi Co. executive, Melise Panetta to President of the organization. it has further bolstered its leadership team with veteran consumer packaged goods (“CPG”) expertise, which is anticipated to deepen and expand BevCanna’s existing sales and distribution network, and accelerate growth.
To that end, the announcement that it has added two veteran CPG (Consumer Packaged Goods) senior sales leaders to the organization is noteworthy. According to the release , Raffael Kapusty will join the company as Vice-President of Sales and Insights and Bill Niarchos will hold the role of Vice-President of Sales and Sales Operations.
Both executives have impressive resumes that dovetail nicely into BevCanna’s strategic growth and expansion trajectory. The release explains that the pair will work collaboratively to accelerate BevCanna’s transformation into a diversified beverage and natural products company with a multi-channel sales and distribution network.
Priorities will include further bolstering BevCanna’s white-label clientele and expanding its international CPG distribution network of U.S. and Canadian big box retailers.
To that end, Raffael Kapusty is an accomplished CPG industry leader with more than 25 years of experience in both the Canadian and U.S. retail spaces. Some of the big names she has worked with and for include ACNielsen Canada and over 100 leading Canadian & global CPG manufacturers. Notably, she has also held senior category and key account management roles at Kruger, SC Johnson and Unilever Canada.
Those relationships and expertise will be joined by Niarchos’ formidable CV which includes Director of Sales with Bayer Consumer Health and managing the strategic direction and growth of Loblaw & SDM. The veteran executive has held a number of progressive roles including Colgate Palmolive for more than 14 years and helped manage trade channels in various capacities, including as National Account Manager at Walmart and Costco.
The caliber of personnel and deep expertise in consumer-packaged goods is expected to add immense value that the Company believes will help make BevCanna a big name in its own right in the future.
About The Emerging Markets Report:
The Emerging Markets Report is owned and operated by Emerging Markets Consulting (EMC), a syndicate of investor relations consultants representing years of experience. Our network consists of stockbrokers, investment bankers, fund managers, and institutions that actively seek opportunities in the micro and small-cap equity markets.
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Must Read OTC Markets/SEC policy on stock promotion and investor protection
- https://www.otcmarkets.com/learn/policy-on-stock-promotion
- https://www.otcmarkets.com/learn/investor-protection
- https://www.sec.gov/news/press-release/2017-79
- https://www.sec.gov/oiea/investor-alerts-bulletins/ia_promotions.html
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