Weekend Unlimited Inc. (“Weekend” or the “Company”) (CSE:POT,FSE:0OS1, OTCQB:WKULF)) is pleased to announce that the Company has negotiated a loan repayment in the amount of $650,000, plus interest paid to date in the amount of $33,750, in relation to the Northern Lights Supply retail operation in Alberta.
Entered into by previous leadership, the opportunity to own up to 49% of the Northern Lights Supply store in Alberta no longer fits into the Company’s highly focused priorities. As outlined in the Company’s shareholder letter in December 2019, leadership has aligned operations to realize its US branded product strategy and ramp up its Canadian Northern Lights Organics hemp farm into full production for the 2020 growing season.
At this time a retail operation in Alberta is not a core business objective and, as a result Weekend leadership has negotiated an early repayment of the loan, which strengthens its cash position allowing the Company to dedicate its resources to the stated core objectives.
“We cannot foresee a near term revenue opportunity from a continued relationship with Northern Lights Supply as the structure of the arrangement that had been put in place was equity based,” said Mr. Chris Backus, President and CEO. “This move strengthens our cash position, and most importantly allows us to deploy our resources to better revenue producing assets, specifically, branded product growth in the US and readying the Northern Lights Organics property in Canada.”
“We wish the team at Northern Lights Supply the best, with a shared and full understanding that the opportunities that presented themselves a year ago, in a very different environment in the sector, are not the same as we face today. As noted previously, my mandate on behalf of shareholders is drive shareholder value and to do that we must deploy resources to revenue producing assets, which this move helps to accomplish.”
In the agreement, announced on November 20, 2018, the parties entered into a convertible secured 6% interest loan facility for up to $1,200,000, of which the Company advanced $750,000. At any time during the term of the agreement, which was to end December 31, 2022, the Company had the option to convert the full amount of its $1,200,000 loan facility into 49% equity of the retail store, dependent upon approval from Alberta Gaming and Liquor Commission.
For further information, please contact:
Mr. Chris Backus, President & CEO, Director
Telephone: 1(236) 317-2812
About Weekend Unlimited Inc.
Weekend Unlimited is a lifestyle-based recreational cannabis and CBD wellness company. We are developing and launching premium cannabis and CBD brands to deliver life’s highs – anytime, anywhere. Our CBD products are available online and at a retailer near you. Weekend Unlimited is well-positioned to launch and scale the brands that will define cannabis and CBD. Learn more at www.weekendunlimited.com
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.
Forward Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management’s current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “predicts”, “intends”, “targets”, “aims”, “anticipates” or “believes” or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
Philip Young, CEO and Director of Lobe, stated, “We are honored to welcome Bart to our Advisory Board. His first-hand experience on and off the field are tremendously valuable as we continue our research involving mild traumatic brain injuries and PTSD. These issues are prevalent in contact sports and we believe that athletes will play a prominent role in the continued acceptance of psychedelic medicines as legitimate treatment. We look forward to working with Bart as we seek to forge long-term strategic relationships.”
HempFusion Wellness Submits Novel Foods Dossier to the United Kingdom’s Regulatory Food Safety Agency
HempFusion Wellness Inc. (TSX:CBD.U) (OTCQX:CBDHF) (FWB:8OO) (“HempFusion” or the “Company”), a leading health and wellness CBD company utilizing the power of whole-food hemp nutrition, is pleased to announce that it has submitted its dossier to the United Kingdom’s Regulatory Food Safety Agency (the “FSA”).
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210303005322/en/
MustGrow Isolates and Concentrates a Mustard-Derived Molecule that Acts as a Systemic, Non-Selective Bioherbicide
- MustGrow has isolated and concentrated a new mustard-derived extract, thiocyanate.
- Thiocyanate is soil active and translocated in the plant as a systemic, non-selective bioherbicide (natural weed-killer).
- Greenhouse weed treatment studies have commenced with this new bioherbicide extract.
MustGrow Biologics Corp. (CSE: MGRO) (OTCQX: MGROF) (FSE: 0C0) (the “Company”, “MustGrow”) is pleased to announce that it has isolated and concentrated an additional molecule, thiocyanate, from mustard seed. Thiocyanate, which is responsible for the systemic activity behind the mustard plant’s natural herbicidal (weed-killer) properties, is the third molecule from mustard seed that MustGrow has isolated, extracted, and concentrated. MustGrow had previously reported herbicidal proof-of-concept success without isolating thiocyanate and now expects to build on those studies with this additional herbicidal mode-of-action now identified.
Thiocyanate extract has the potential to be a natural organic non-selective bioherbicide that is soil active with systemic translocated properties. Systemic activity, or the ability of the active ingredient to move from soil, to roots, and then to stem and leaves, is particularly significant given that the leading synthetic herbicide glyphosate is not soil active, and only acts on the above ground parts of the weed it contacts. MustGrow believes a tremendous opportunity exists to potentially replace or compliment glyphosate in certain systems, by providing a natural organic solution. Globally, glyphosate is being phased out, including recent announcements by Germany and Mexico by 2024. France recently announced glyphosate restrictions but stopped short of a full ban because of a lack of non-chemical alternatives.
Koios Expands Texas Presence with Upcoming Placements in Select Stores of Drug Emporium, a Pharmacy Chain in TX, AR, LA
Drug Emporium is a chain of “big box” pharmacies in Texas, Arkansas, and Louisiana with standard pharmacy departments as well as “store-within-a-store” features such as “Vitamins Plus”. This month, the Company’s KOIOS™ and Fit Soda™ beverage products will be placed in select Texas locations of Drug Emporium, complementing existing placements of the Company’s products in the state of Texas, including in more than 100 HEB supermarkets.
Koios Beverage Corp. (CSE: KBEV; OTC: KBEVF) (the “Company” or “Koios”) is pleased to announce that beginning this month, all five flavours of its KOIOS ™ nootropic beverage and all four flavours of its Fit Soda ™ functional beverage will be carried in select Texas locations of Drug Emporium, a “big box” pharmacy chain with stores in Texas (population 29 million), Arkansas (population 3 million), and Louisiana (population 4.65 million). In late 2020, the Company announced that its Fit Soda ™ functional beverage product is now carried in more than 100 HEB supermarkets in Texas . Additionally, the Company announced last week that its KOIOS ™ nootropic beverage product was to be added to all locations of Louisiana supermarket chain Matherne’s including its storefront located across from the Louisiana State University’s Tiger Stadium which is the eighth-largest stadium in the world. The Company has sustained its focus on placing its beverage products with regional grocery chains who can play a key role in accelerating market penetration in a given geographic region. By adding to its existing presence in the southeastern United States through local chains such as Drug Emporium and national banner retailers such as Walmart, the Company believes that it is favourably positioned to gain greater market share in the functional beverages category. The Company’s beverage products are currently sold in more than 4,000 stores in the United States.
Love Hemp Group PLC (AQSE:LIFE)(OTCQB:WRHLF), is pleased to announce that, further to the Company’s announcement on 15 February 2021, the change of name from World High Life Plc to Love Hemp Group PLC has become effective
All share certificates that are presently in the hands of investors will be valid and do not need to be exchanged for new share certificates.