Vodis Pharmaceuticals Inc. (CSE: VP / FSE: 1JV) (“Vodis” or the “Company”) announced today the Vodis name, image and various Vodis-inspired designs and concepts will be used to brand, market, and sell marijuana products across Washington State through a Product Licensing and Marketing Agreement (the “Licensing Agreement”) between a Washington State marijuana licensee, Our Church International, LLC (“OCI”), and Vodis’s wholly-owned subsidiary, Vodis USA, Inc. (“Vodis USA”).

The Licensing Agreement entered into by Vodis USA and its Bellingham facility tenant, OCI, will result in the Vodis name and related images being used for branding, marketing, and commercialization of OCI’s cannabis products. In addition, with Vodis developing marketing strategies and providing operational support we expect the Vodis brand will become synonymous across and eventually beyond the State of Washington with premium-branded cannabis products. “This is an important step to continue developing the association between the Vodis brand and high quality, consumer recognized cannabis products. We have worked hard with the OCI team to ensure all Vodis branding will be associated with the best OCI has to offer,” stated Vodis CEO Ivan Miliovski.

This agreement is seen by Vodis not only as a source of additional value-added revenue from its client OCI, but also as an important opportunity to capitalize on the recently announced Phase 2 production expansion at OCI’s Washington facility. Establishing early consumer recognition of Vodis USA as a premium cannabis brand through packaging and superior merchandising is key to immediate and long-term growth of sales and revenue for both companies.

Washington law prohibits non-residents from obtaining a percentage of profits from the operations of marijuana licensees. Accordingly, the Licensing Agreement between OCI and Vodis USA establishes a graduated compensation schedule increasing the compensation to Vodis USA as sales and marketing goals are achieved. The compensation schedule, based on gross aggregate sales, ranges from $0.34 to $0.40 per dollar of Vodis branded product sold by OCI. The company anticipates revenues to Vodis from Vodis branded cannabis products sold by OCI, at full operational capacity, would be in excess of $2.0M annually based on today’s market prices.

Cannabis sales in Washington exceeded $1.1B in FY 2016, offering a promising opportunity for both Vodis USA and OCI to capitalize on the ever-growing legal cannabis industry.

Vodis and its subsidiaries cannot have any interest whatsoever in any proceeds as a result of production, processing or retail activities in the United States. It can license its brand and production consulting services to approved Washington State license holders to ensure that all products produced under the Vodis name and/or associated with the “VIP” brand meet or exceed the Vodis brand quality standards.

Click here to read more about Vodis Pharmaceuticals Inc. (CSE: VP / FSE: 1JV)

Lexaria Bioscience Corp. (NASDAQ:LEXX)(NASDAQ:LEXXW)(CSE:LXX) (the “Company” or “Lexaria”), a global innovator in drug delivery platforms, is pleased to announce the appointment of Mr. Al Reese, Jr., to its Board of Directors

Mr. Reese has over 40 years experience in public and private businesses including as CFO of a formerly Nasdaq-listed energy company where he arranged finance transactions totaling over $10 billion dollars during his 20-year tenure. Mr. Reese was a Director and Chairman of the Audit Committee of a community bank in Texas for ten years until such time as it was acquired by a larger banking group in 2018.

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Mexico looks to be closer than ever to cannabis reform, with the country releasing its regulation plans to make the drug legal in medical settings.

Meanwhile, despite the financial hardships seen recently in the Canadian cannabis market, CEOs in the country are still receiving top dollar, as per a new study.

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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 the pricing of its previously announced best efforts overnight marketed offering (the “Offering”) of subordinate voting shares (the “Offered Securities”) of the Company at a price of C$16.00 per share for a total gross proceeds of approximately US$125 Million. The issue price represents a 3.3% discount to the last close of the Company’s subordinate voting shares traded on the Canadian Securities Exchange as of January 14, 2021. 100% of the Offering is expected to be purchased by a total of seven new and existing institutional investors, including current shareholder, Wasatch Global Investors.

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Wall Street Reporter, the trusted name in financial news since 1843, has published reports on the latest comments and insights from leaders at: Tilray, Inc. (NASDAQ: TLRY), Icanic Brands (OTC: ICNAF) (CSE: ICAN) Red Light Holland (OTC: TRUFF) (CSE: TRIP) and Aphria, Inc. (NASDAQ: APHA).

Investors are cheering new and expected legislation which is opening new market opportunities for both cannabis and psychedelics globally. Innovation in premium branding, growing technologies, manufacturing, with operational execution are key, in the drive towards profitability. Wall Street Reporter highlights the latest comments from industry thought leaders in cannabis and psychedelics:

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Lexaria Bioscience Corp. (NASDAQ:LEXX)(NASDAQ:LEXXW)(CSE:LXX) (the “Company”) today announced the closing of its previously announced underwritten public offering (the “Offering”) of 1,828,571 units, each unit consisting of one share of common stock and one warrant to purchase one share of common stock at a public offering price of $5.25 per unit (all prices in US$). The warrants have an exercise price of $6.58 per share, are immediately exercisable and will expire five years following the date of issuance. In connection with the Offering, the underwriter exercised in full its option to purchase an additional 274,285 shares of common stock and additional warrants to purchase 274,285 shares of common stock. The gross proceeds from the Offering were approximately $11.04 million, before deducting underwriting discounts and estimated offering expenses. No securities were offered or sold in Canada, including through the CSE or any other trading market in Canada

H.C. Wainwright & Co. (“Wainwright”) acted as the sole book-running manager for the Offering and is a non-related party to the Company.

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