Phivida Holdings Inc. (CSE:VIDA, OTCQX:PHVAF) (“Phivida”), is pleased to see the decision by the passing of the 2018 Farm Bill, which explicitly removes hemp from the purview of the Controlled Substances Act, and facilitates the commercial cultivation and production of industrial hemp in the United States. The explicit removal of hemp and hemp-derived products (including hemp-derived cannabidiol (CBD)) from the Controlled Substances Act, will assist in enabling the wider sale of hemp-derived products. Previously, the production and distribution of hemp in the U.S. had been conducted under the auspices of 2014 Farm Bill and state-level legislation in 41 states, which had provided a more limited scope of hemp production and sale.
“The passing of the 2018 Farm Bill clarifies hemp production and will bolster the growing acceptance of hemp-derived products containing CBD,” said Jim Bailey, President and CEO. “In particular, we expect it will have a positive impact on both of our Vida+ brand (www.hempvidaplus.com) and Oki lifestyle brand of beverages, tinctures and capsules (www.feeloki.com), which provide a spectrum of non-psychoactive phytocannabinoids through infusion with active hemp extract. This legislation will be helpful as we engage with major retail chains and grow to have our product on shelves in all 50 states.”
The 2018 Farm Bill also authorizes research and development funding for hemp production and includes hemp as an agricultural product eligible for support under the Critical Agricultural Materials Act. Other provisions in the bill make hemp producers eligible to participate in federal crop insurance programs.
“Consumers can expect an expansion of hemp-derived products available as a result of the R&D enabled in this legislation,” added Mr. Bailey, “For Phivida, we will be watching for opportunities to enhance our brand and product offering as we strive to become a market leader.”
ABOUT Phivida Holdings Inc.
Phivida Holdings Inc. is headquartered in Vancouver, BC with operations in San Diego, CA. Phivida is a premium functional food and beverage company focused on whole plant nutrition and natural ingredients that help best maintain overall health and balance in the human body. The company infuses active hemp extract into a variety of premium beverages and clinical products for everyday health. Phivida embraces and celebrates a return to organic, natural, plant-based foods and beverages, and a focus on holistic health and wellness. The mission is to help reduce the world’s dependence on pharmaceuticals and provide food and beverage choices that allow customers to live a balanced, healthy lifestyle. For more information, visit phivida.com
SOURCE Phivida Holdings Inc.
For further information: Website www.phivida.com, Toll free +1 (844) 744-6646 (ext. #2), Email IR@phivida.com; Jim Bailey, President and CEO, Phivida Holdings Inc., +1 (844) 744-6646; Investor Relations: Craig MacPhail, NATIONAL Capital Markets, 416-586-1938, firstname.lastname@example.org; Media Relations: Amie Lauder, NATIONAL Public Relations, 416-586-1943, email@example.com
Aion Therapeutic Inc. (CSE: AION) (” Aion Therapeutic ” or the ” Company “) today announced that it has retained KCSA Strategic Communications (” KCSA “), a leading New York City -based communications firm.
Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) (“Trulieve” or “the Company”), today announced the closing of its previously announced marketed public offering of 5,000,000 subordinate voting shares in the United States and Canada (the “Offering”) at a public offering price of C$50.00 per share ( $39.63 per share after giving effect to the conversion rate published by Bloomberg at 4:30pm ET on April 7, 2021 to convert Canadian dollars to U.S. dollars). In connection with the closing of the Offering, the underwriters exercised in full their option to purchase an additional 750,000 subordinate voting shares. As a result, the gross proceeds from the Offering, before deducting underwriting discounts and commissions and offering expenses payable by Trulieve, were C$287.5 million (or $227.9 million after giving effect to the conversion rate denoted above).
The Offering was conducted through a syndicate of underwriters led by Canaccord Genuity, as sole book-running manager, and included Cormark Securities Inc., as co-lead manager, as well as ATB Capital Markets Inc., Echelon Wealth Partners Inc., Eight Capital and PI Financial Corp. All of the shares in the Offering were sold by Trulieve. Trulieve intends to use the net proceeds from the Offering primarily to fund Trulieve’s business development and for general working capital purposes.
Ayurcann Holdings Corp. ( CSE: AYUR ) (the “ Company ” or “ Ayurcann ”), is pleased to announce that the Company intends to complete a non-brokered private placement (the “Financing” ) of up to 2,645,503 units (the “Units” ) at a price of $0.189 per Unit. Each Unit will consist of one common share ( “Common Share” ) of the Company and one-half of a common share purchase warrant ( “Warrant” ), with each whole Warrant entitling the holder to acquire one additional Common Share at an exercise price of $0.38 per Common Share for a period of 36 months from the closing date ( “Closing Date” ) of the Financing, for gross proceeds of up to $500,000 .
The Company will have an option, prior to the closing date, to upsize the offering with the sale of an additional 25% of Units, accounting to aggregate proceeds of up to $625,000.
Lobe invites individual and institutional investors as well as advisors and analysts to attend its real-time, interactive presentation at the Emerging Growth Conference
Nextleaf Solutions Receives Amendment to Standard Processing Licence to Allow for Direct to Province Sales
Nextleaf Solutions Ltd. (CSE: OILS) (OTCQB: OILFF) (FSE: L0MA) (“Nextleaf”, “OILS”, or the “Company”), the world’s most innovative cannabis processor, is pleased to announce that its wholly-owned subsidiary, Nextleaf Labs Ltd. (“Nextleaf Labs”), has received an amendment to its existing Standard Cannabis Processing Licence from Health Canada (the “Amendment” or the “Amended Licence”) that authorizes the sale of cannabis extracts, edibles, and topical products, directly to provincially-authorized distributors and retailers across Canada.