As investors continue to prioritize cannabis opportunities in the US, market watchers expect mergers and acquisitions (M&A) to play a role in the future for Canadian companies.
A consolidation trend has been expected in the Canadian cannabis space for some time now based on the size of the market compared to the number of operations in the country.
With a recently renewed financial boost and two significant deals among major players in the country, M&A looks set to bring in a new order for Canadian cannabis.
Meanwhile, as Canadian companies wait for policy changes below the border, M&A may help them position ahead of changes in the American legal landscape.
Recent deals push consolidation trend for Canadian M&A
Heading into 2020, a pattern of consolidation was expected for Canadian cannabis operators. However, complications from the financial uncertainty caused by the COVID-19 pandemic likely affected plans.
The latter half of 2020 and the start of 2021 brought some newfound momentum for cannabis investments; this came alongside serious developments in the Canadian marketplace that boosted the performance of operators, according to Nawan Butt, portfolio manager with Purpose Investments.
The deal sent waves across the cannabis investing landscape as it combined two of the biggest names in the public markets, resulting in a company worth approximately C$5 billion.
Butt told the Investing News Network (INN) that the Aphria and Tilray deal was a great opportunity for each company to fill the other’s weak spots. “A great merger of equals, I would say,” he said.
Following confirmation of the transaction, Som Seif, founder and CEO of Purpose Financial, said the deal was a starting point for more consolidation in the Canadian cannabis space.
“Canadian licensed producers (LPs) have been given a second lifeline of sorts here where the capital markets are back to support them and their balance sheets and put them back into growth mode,” Butt told INN.
What are Canadian companies looking for in M&A right now?
Narbe Alexandrian, CEO of RIV Capital (TSX:RIV,OTC Pink:CNPOF), formerly known as Canopy Rivers, told INN that just over two years after federal cannabis legalization in Canada there has been a critical evolution in terms of how deals are valued.
“At the time, when legalization was taking shape, it was always a race towards who had the most supply,” he said. “Fast forward to now, we’ve noticed that it’s not about who has the infrastructure, it’s about who has the eyeballs, who has the demand, who can capture that demand.”
The executive explained that this shift in how the market approaches valuation has led to a renaissance in Canadian cannabis by way of a multitude of companies seeking a reset button of sorts.
“That reset button could be bankruptcy, or it could be a fire sale of the asset,” he said.
The bigger names in the space have also faced difficulties in a changing financial landscape, and Alexandrian said that for the most part they will likely stop trying to do everything. As a result, he explained, there will be a need for other cannabis companies to fill the gaps left open.
The Valens Company (TSXV:VLNS,OTCQX:VLNCF) President Jeff Fallows agreed with Alexandrian. In a conversation with INN, the executive said M&A strategy has been directly impacted by a shift in the style of executive leadership at the top of the Canadian cannabis space.
“You’re seeing more and more jettisoning of things that are not core (to the big producers), and Valens has been a particular benefactor of that,” he said. Valens specializes in extraction services and has even moved forward with its own line of products, such as vape pens.
Fallows explained that in meetings with newer management teams at LPs, he hears them ask, ‘Why am I doing vape pens?’ and instead they elect to pursue a partnership.
“(It’s) very good from the Valens perspective, but I think (it is) symbolic of the growing up and the evolving of the cannabis sector as a CPG sector,” Fallows said.
Butt has argued that the Canadian market will reach a point where a controlling top of leading companies holds a dominant majority position in the domestic market.
While the green rush of cannabis investment initially led to an explosion of companies and investment avenues, the expert thinks it’s most likely the market will end up with a reduced number of operators.
“What I anticipate for us to start seeing more often is more mergers between tier one and tier two players,” Butt said, classifying the types of Canadian cannabis companies out there.
He warned that none of the future deals that may come into play will be focused on infrastructure or capacity options.
“Nobody wants to buy capacity right now,” said Butt. “What is worth value is brands, relationships, innovative product formats and international exposures.”
Canadians pine for US entry points
One aspect all experts can agree on is the way the US marketplace has affected the path of expansion for Canadian companies.
Canadian firms have entered the US market through strategic investments or expansions with CBD derivative options, which are legally permitted thanks to hemp-derived CBD permissions in the country.
“We anticipate there will be further mergers of sorts going into this year, especially in anticipation of the US opportunity opening up for Canadian LPs,” Butt told INN.
Those business opportunities, however, do not represent medical or recreational cannabis product sales in the fractured state markets. That avenue has been entirely dominated by US-based multi-state operators (MSOs).
“US cannabis companies are now hitting a level of maturity where real business models are emerging,” Joe Bayern, CEO of Curaleaf Holdings (CSE:CURA,OTCQX:CURLF), told S&P Global Market Intelligence.
The growth cycle afforded by the value size available from US cannabis businesses has shifted the attention of Canadian companies with enough financial options to pursue a run below the border.
“Investors are speculating that Canadian cannabis companies will be able to access that market in the near future,” Butt said.
While the desire is present, and the Canadians are starting to talk more openly about their intentions with the US market, the legal framework makes things murky in terms of the approach possible.
“We believe that the Canadian LPs and the potential positioning of entry into the US market is too early,” Charles Taerk, president and CEO of Faircourt Asset Management, commented to INN. “And so all of this structuring, raising capital and the craze in the Canadian LPs, market prices, raising more than the MSOs — (it) doesn’t make a lot of sense to us.”
Taerk explained that from his view cannabis policy in the US has moved at a glacial pace in the past, and that will not change despite the country’s new Democratic political leadership.
“There is great exuberance with respect to the Democrats controlling the Senate,” he said. But according to the financial executive, the current administration has bigger fish to fry right now in terms of policy.
“We believe that there is going to be some type of legislation and it will be tabled. But we don’t think that federal legalization is in the cards, at least this year,” Taerk said.
Dan Ahrens, chief operating officer and portfolio manager at AdvisorShares, told INN the Canadian companies find themselves in a tricky position regarding the US growth opportunity.
“I think that’s one of the most interesting stories still, that disconnect between Canada and the US. For the cannabis operators in Canada, they have no choice but to speak about entry into the US,” he said.
Ahrens told INN Canadian cannabis companies will try everything possible to secure a stake in the US marketplace; some even already have viable access points ready in the case of future policy changes.
“The US operators are going to look extremely tantalizing to Canadian firms, to other US firms and to other US or worldwide CPG companies,” said Ahrens, who manages the AdvisorShares Pure Cannabis ETF (ARCA:YOLO) and the recently launched AdvisorShares Pure US Cannabis ETF (ARCA:MSOS).
Despite the potential associated with the US marketplace, one financial advisor expressed concern at the current timeline of events starting to surround Canadian companies in relation to US entries.
Ahrens explained that Canadian companies have continued to see trading activity related to US-based developments. “They trade up improperly, I guess is a good way to say it, based on news in the US,” he said. “But it won’t last.”
The future seems uncertain for Canadian cannabis companies, especially in relation to the US marketplace — it remains unclear how the country’s cannabis players will capitalize on the attractive American market. For now, what’s evident is that interest in this potential market will surely drive the possibility of critical cross-border M&A plans.
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.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
Positive distributor feedback and strong consumer interest accelerating launch with distributors
Emerging leader in innovative health and wellness beverages and products, BevCanna Enterprises Inc. ( CSE:BEV , Q:BVNNF , FSE:7BC ) (“ BevCanna ” or the “ Company ”) announces today that its wholly-owned subsidiary Naturo Group has successfully completed its initial shipment of TRACE plant-based products to one of Japan’s largest beverage distributors.
Following up on its recently announced Japanese distribution agreement with Mirai Marketing Inc., the Company is now in active discussions with established beverage distributors to leverage their robust distribution networks and integrate TRACE’s proprietary plant-based mineral formulation into their distribution pipeline, targeting the growing health-conscious consumer segment in Japan.
“BevCanna’s market research on Japanese purchaser preferences confirms that these consumers are very responsive to natural, health-conscious products, and that TRACE’s proprietary plant-based mineralized beverages and nutraceuticals will be well received,” said Melise Panetta, President of BevCanna. “Our first product shipment to Japan will build our distribution network within this burgeoning market and solidify Japan as a primary market within our international expansion strategy.”
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 .
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: that the Company is now in active discussions with established beverage distributors to leverage their robust distribution networks and integrate TRACE’s proprietary plant-based mineral formulation into their distribution pipeline, targeting the growing health-conscious consumer segment in Japan; the Company’s first product shipment to Japan will build its distribution network within this burgeoning market and solidify Japan as a primary market within its international expansion strategy; 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; changes to consumer preferences; volatility of commodity prices; future legislative, tax and regulatory developments; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the inability to implement business strategies; competition; currency and interest rate fluctuations; inability to successfully negotiate and enter into commercial arrangements with other parties; and other factors beyond the control of the Company and its commercial partners. The Company 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 law, and the Company does not assume any liability for disclosure relating to any other company mentioned herein.
On behalf of the Board of Directors:
John Campbell, Chief Financial Officer and Chief Strategy Officer
Director, BevCanna Enterprises Inc.
For media enquiries or interviews, please contact:
Wynn Theriault, Thirty Dash Communications Inc.
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Cresco Labs Announces the Appointment of Tarik Brooks to Its Board of Directors and the Retirement of Dominic Sergi
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, today announced an additional refreshment of its board of directors to further strengthen its leadership in the cannabis industry.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210422005351/en/
Cresco Labs appoints Tarik Brooks, President of Combs Enterprises, to its Board of Directors (Photo: Business Wire)
Appointment of Tarik Brooks
Cresco Labs has appointed Tarik Brooks to its board of directors, effective immediately. Mr. Brooks is a seasoned executive with more than 22 years of experience driving large scale business transformations across several industries including spirits, hospitality and media.
Currently, as President of Combs Enterprises, Mr. Brooks oversees all business operations and investments owned by Sean “Diddy” Combs. This diverse portfolio includes ventures in spirits (Ciroc Vodka and DeLeon Tequila), media (Revolt TV), music (Bad Boy Records), consumer packaged goods (AquaHydrate), and education (Capital Preparatory Schools). Mr. Brooks also leads all new business development activity, including the launch of “Our Fair Share”, a platform to help minority owned businesses access capital through the Paycheck Protection Program (PPP).
Prior to his current role, Mr. Brooks was the Chief Operating Officer of Account Management and Trading at Bridgewater Associates, the world’s largest hedge fund. Earlier in his career, Mr. Brooks served as Executive Vice President at RLJ Companies, a portfolio of companies owned by investor Robert L. Johnson, where Mr. Brooks led the development of gaming/nightlife ventures in the Caribbean and the completion of RLJ Kendeja, a resort hotel in Liberia.
Throughout his career, Brooks has negotiated transactions, including acquisitions and capital raises, led major strategic initiatives, and oversaw compliance in highly regulated industries. Mr. Brooks is a graduate of Howard University and Harvard Business School.
“I’m thrilled to welcome Tarik Brooks to our board of directors. He has remarkable experience building and managing consumer brands and will be an invaluable member of our organization as cannabis continues to evolve as a consumer packaged good,” said Tom Manning, Cresco Labs Executive Chairman. “We’ve taken a measured approach to building our board, periodically making refreshments that add new skills and experience to the group. Tarik represents another key appointment for Cresco Labs at a critical time of growth and expansion for the company.”
Retirement of Dominic Sergi
The Company announced today that Dominic Sergi, an original founder of Cresco Labs, has retired from the Company’s board of directors as part of the planned board refreshment process. Mr. Sergi currently serves as CEO of Clear Height Properties and spends his free time supporting the Nicholas D. Sergi Foundation. Mr. Sergi has been a foundational part of Cresco Labs since the company’s inception and his experience in real estate development has played an instrumental part in the construction of Cresco Labs’ asset base.
“I want to sincerely thank Dominic for his many years of service and for helping to guide this organization toward the top of the cannabis industry. Dominic is one of the most considerate and giving people I know and it has been a pleasure building this Company together,” said Charlie Bachtell, CEO of Cresco Labs.
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.
Jason Erkes, Cresco Labs
Chief Communications Officer
Jake Graves, Cresco Labs
Manager, Investor Relations
For general Cresco Labs inquiries:
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– Study to examine DehydraTECH TM CBD’s ability to control blood pressure
– First of three human clinical studies hoped to validate Lexaria’s patented technology for hypertension relief
Kelowna, British Columbia, April 22, 2021 Lexaria Bioscience Corp. (Nasdaq:LEXX) (Nasdaq:LEXXW) (CSE:LXX) (CNSX:LXX.CN) (the “Company” or “Lexaria”), a global innovator in drug delivery platforms, announces that its human clinical hypertension study HYPER-H21-1 is officially underway. Lexaria’s patented DehydraTECH CBD formulation will be examined to assess its ability to control blood pressure and assess impact on inflammation.
“We are very pleased that dosing of human volunteers as part of Lexaria’s hypertension study has begun,” said Lexaria CEO Mr. Chris Bunka. “Dosing is expected to be completed, on schedule, within several weeks, and we may be in a position to report preliminary data in July or thereabouts. Despite challenges in launching a human clinical study during a global pandemic, Lexaria’s Europe-based research partners have done an excellent job of balancing the need for scientific validation for a potential new hypertension treatment, with the required safety protocols currently in place.”
HYPER-H21-1 is a randomized, double-blinded, controlled human clinical study expected to involve 24 human volunteers with symptoms of either pre-hypertension, or mild hypertension. A single 300mg dose of an advanced DehydraTECH TM 2.0 CBD formulation will be evaluated relative to a concentration-matched control without Lexaria’s DehydraTECH enhancements.
Time series blood pressure and heart rate analyses are the primary objectives of this study. Secondary objectives include speed and rate of absorption of the CBD and its main metabolites (pharmacokinetics or “PK” assessments), as well as evaluation of inflammatory markers associated with cardiovascular disease and gold-standard biomarkers of nitric oxide. This latter measure provides mechanistic insight into the anticipated reduction in blood pressure via vasodilation.
These i nflammatory marker assessments may also be applicable to Lexaria’s research initiatives in the antiviral therapeutics space whereby effective anti-inflammatory therapies are also useful in treating diseases like COVID-19 or other common pro-inflammatory conditions.
Since a large array of data points will be generated and analyzed, final reporting on this study is likely to be reported in early September.
There are five studies in Lexaria’s 2021 hypertension program which are expected to generate data required to further support the validity of using DehydraTECH-processed CBD as a potential hypertension treatment across various applications. Lexaria has received 18 granted patents internationally, including issuances in the European Union and Australia specifically to use DehydraTECH-processed CBD to treat heart disease.
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 or for other reasons, 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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TerrAscend Corp. (“TerrAscend” or the “Company”) (CSE: TER) (OTCQX: TRSSF), a leading North American cannabis operator, today announced that it will host a scheduled conference call to discuss the results for its first quarter ended March 31, 2021 on Wednesday, May 19 th 2021 at 8:30 a.m. Eastern Time . The Company will report its financial results for the quarter in advance of the call.
CONFERENCE CALL DETAILS
Wednesday, May 19 th , 2021
8:30 a.m. Eastern Time
(416) 764-8677 or (888) 390-0541
Replay Code: 025412
The Canadian Securities Exchange (“CSE”) has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
TerrAscend is a leading North American cannabis operator with vertically integrated operations in Pennsylvania , New Jersey , and California in addition to operating as a licensed producer in Canada . TerrAscend operates an award-winning chain of Apothecarium dispensary retail locations as well as scaled cultivation, processing and manufacturing facilities on both the East and West coasts. TerrAscend’s best-in-class cultivation and manufacturing practices yield consistent, high-quality cannabis, providing industry-leading product selection to both the medical and legal adult-use market. The Company owns several synergistic businesses and brands, including The Apothecarium, Ilera Healthcare, Kind Tree, Prism, State Flower, Valhalla Confections, and Arise Bioscience Inc. For more information, visit www.terrascend.com .
Caution Regarding Cannabis Operations in the United States
Investors should note that there are significant legal restrictions and regulations that govern the cannabis industry in the United States . Cannabis remains a Schedule I drug under the US Controlled Substances Act, making it illegal under federal law in the United States to, among other things, cultivate, distribute or possess cannabis in the United States . Financial transactions involving proceeds generated by, or intended to promote, cannabis-related business activities in the United States may form the basis for prosecution under applicable US federal money laundering legislation.
While the approach to enforcement of such laws by the federal government in the United States has trended toward non-enforcement against individuals and businesses that comply with medical or adult-use cannabis programs in states where such programs are legal, strict compliance with state laws with respect to cannabis will neither absolve TerrAscend of liability under U.S. federal law, nor will it provide a defense to any federal proceeding which may be brought against TerrAscend. The enforcement of federal laws in the United States is a significant risk to the business of TerrAscend and any proceedings brought against TerrAscend thereunder may adversely affect TerrAscend’s operations and financial performance.
View original content: http://www.newswire.ca/en/releases/archive/April2021/22/c2942.html
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Better Plant Sciences Inc. (CSE: PLNT) (OTCQB: VEGGF) (FSE: YG3) (“Better Plant”) or (the “Company”), a wellness company that develops and sells plant-based products, announces the launch of Jusu Labs, a division of Better Plant dedicated to partnering with celebrities and other influencers to create additional revenue streams by selling healthy and sustainable co-branded products to their audiences.
Better Plant Launches Jusu Labs for Influencer and Celebrity Partnerships
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Better Plant has over 500 plant-based formulas ready for production, including personal care products and food and beverage formulas. Products can be launched through Better Plant’s trusted Jusu brand, as a white label, or as a featured brand under the Jusu label. Influencers can take advantage of Jusu’s production facility, and its eCommerce platform and fulfillment network to launch products quickly and efficiently.
Better Plant is working with Mieux Digital Agency (“Mieux“), experts in all aspects of marketing, branding, eCommerce, affiliate programs, and influencer programs. The Company has engaged Mieux specifically to increase brand awareness and gain access to prospective celebrity influencers, as part of its new division, “Jusu Labs”.
“This partnership with Mieux will be a way for Better Plant to continue to reach more potential customers who resonate with the brand’s values and messaging via aligned celebrity influencers. In particular, influencers that align with plant-based, healthy products,” says Better Plant’s Vice President of Marketing, Gabriel Villablanca. “We know there are celebrities who want to support these kinds of initiatives, especially by supporting products they love. Our partnership will allow us to work together to find these partners and potentially create new lines of products that do that.”
Mieux previously set up a well-publicized collaboration with Jusu and Wu-Tang Clan’s contemporary fashion and vegan accessories line, 36 Chambers. The campaign featured Jusu’s all-natural plant-based hand sanitizer, aptly named ‘Protect Ya Hands’, which was featured in publications such as Hypebeast, Complex, Pitchfork and NME.
“We couldn’t be more excited for our partnership with Better Plant,” said Nik Topolovec, President of Mieux Digital. “The world is looking for plant-based product solutions and Better Plant is uniquely positioned to help folks with influence bring their plant-based products to market. By bridging the gap, we are hoping to provide celebrities with unique products and development opportunities that can help them build their businesses, personal brands and bring wellness offerings to their fans. The future is incredibly bright in this space!”
With the increased exposure of celebrity endorsements and its partnerships with trusted wholesalers in globalized marketplaces, Jusu is well positioned to attract retailers globally.
About Better Plant:
Better Plant harnesses plant intelligence and leverages modern science to offer sustainable, plant-based products that are better for health and better for the earth. It makes and sells over 90 proprietary products, all made with 100% natural ingredients, under the brands Jusu, Urban Juve and Wright & Well. It has a direct-to-consumer platform for refrigerated goods that offers easy online ordering and convenient home delivery in select cities in Alberta and BC. Better Plant operates Jusu Bar, a quick serve restaurant alternative in Victoria, BC, which serves up fresh, healthy, and nutritious options with a focus on Jusu cold-pressed juices. Jusubar.com offers home delivery of refrigerated plant-based beverages consisting of cold-pressed juices and packaged juice cleanses. Through its Shopify enabled eCommerce sites getjusu.com and urbanjuve.com, Better Plant sells plant-based personal care products, including skin care, hair care, body care and baby care. Jusu also has a line of plant-based all-natural home cleaning products that are sold to cleaning companies, retailers and sold directly to consumers. Better Plant also offers operational, financial, and other services to companies with businesses that align with Better Plant’s mission to help create a better world. Better Plant incubated NeonMind Biosciences Inc., which sells medicinal mushroom infused coffees and is developing drugs with psychedelic ingredients to treat obesity and to suppress appetite.
Penny White, President & CEO
Amber Allen, Head of Sales
The Canadian Securities Exchange has not reviewed, approved or disapproved the contents of this news release.
Cautionary Statement Regarding Forward-Looking Statements
This press release includes forward-looking information and statements (collectively, “forward looking statements”) under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates, forecasts, beliefs and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such risks, uncertainties and factors include, but are not limited to: risks related to the development, testing, licensing, brand development, availability of packaging, intellectual property protection, reduced global commerce and reduced access to raw materials and other supplies due to the spread of COVID-19, the potential for not acquiring any rights as a result of the patent application and any products making use of the intellectual property may be ineffective or the company may be unsuccessful in commercializing them; and other approvals will be required before commercial exploitation of the intellectual property can happen. Demand for the company’s products, general business, economic, competitive, political and social uncertainties, delay or failure to receive board or regulatory approvals where applicable, and the state of the capital markets. Better Plant cautions readers not to place undue reliance on forward-looking statements provided by Better Plant, as such forward-looking statements are not a guarantee of future results or performance and actual results may differ materially. The forward-looking statements contained in this press release are made as of the date of this press release, and Better Plant expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/81263
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