Green Growth Brands gains access to 108 prime retail locations owned by the largest shopping mall operator in the U.S.
Green Growth Brands Inc. (CSE: GGB) (OTCQB: GGBXF) (“GGB” or “the Company”) announced that it has entered into an agreement through which the Company will gain access to 108 prime shop locations in U.S. malls owned and operated by the Simon Property Group, Inc. (NYSE: SPG) (“Simon”). Pursuant to the arrangement, GGB will further expand its chain of CBD-infused personal care product shops under the Seventh Sense Botanical Therapy (“Seventh Sense”) brand and other GGB brands. The Seventh Sense brand offers high quality CBD-infused products at affordable prices.
“Our partnership with Simon allows GGB to launch our brands and CBD products in premier shopping destinations across the U.S.,” said Peter Horvath, CEO of GGB. “Our management team has had decades of experience working closely with developers and operating premium retail stores in their properties. We know this arrangement gives us access to the best locations, foot traffic, and consumers. We look forward to introducing our remarkable retail experience and line of CBD products to Simon shoppers in the near future.”
Simon is the largest shopping mall operator in the United States1, and its high-profile properties include Roosevelt Field in metro New York; The Galleria in Houston, TX; and Woodbury Common Premium Outlets in Central Valley, NY. The expansive nature of the relationship with Simon makes it the first of its kind in the CBD industry and will give GGB access to entire markets of new customers at many of the nation’s most productive retail locations.
“We are constantly on the lookout for cutting-edge new concepts, like the GGB shops,” said John Rulli, President of Simon Malls. “We are committed to adding new and dynamic retailers and uses to our shopping destinations, and the GGB shopping experience is exactly the type of innovation our customers want and expect from us. We’re excited to work on the GGB launch, and look forward to a long and deepening relationship as we build this network together.”
The first shop is expected to open in March, 2019 at Castleton Square Mall in Indianapolis, Indiana. The remaining shops will be opened over the course of 2019.
In conjunction with the Simon transaction, the Company, through its wholly owned subsidiary GGB Kiosks LLC, has entered into a consulting agreement (the “Consulting Agreement”) for services rendered with Simon Canada Management Ltd. (“Simon Canada”). In exchange for the services rendered under the Consulting Agreement, which relate to GGB’s shop expansion strategy, the Company has issued to Simon Canada USD$2,232,824.42 (CAN$2,925,000) in GGB common shares and 1,000,000 common share purchase warrants of GGB with an exercise price of USD$4.47(CAN$5.85), with both the common shares and the common share purchase warrants reflecting the GGB share price as of close of trading on February 7, 2019. The common shares are subject to a lock up agreement for a period of 12 months from the effective date.
GGB also announces that it has entered into an Advisory Services Agreement (the “Advisory Agreement”) with J. Salter Ltd., d.b.a. Authentic Retail Concepts, Ltd. (“ARC”), for a variety of consulting services that leverage a network of strategic relationships, including Simon Property Group. As compensation for the services under the Advisory Agreement, GGB has issued to ARC USD$2,232,824.42 (CAN$2,925,000) in GGB common shares reflecting the GGB share price of USD$4.47 (CAN$5.85) as of the close of trading on February 7, 2019. The shares are subject to a lock up agreement for a period of 12 months from the effective date.
Certain information in this news release constitutes forward-looking statements under applicable securities law. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expect”, “intend”, “forecast” and similar expressions. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; marketing costs; loss of markets; future legislative and regulatory developments involving medical and recreational marijuana; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; the marijuana industry in the United States, income tax and regulatory matters; the ability of the Company to implement its business strategies, including with respect to its retail shop strategy; competition; currency and interest rate fluctuations and other risks, including those factors described under the heading “Risks Factors” in the Company’s Annual Information Form dated November 26, 2018 which is available on the Company’s issuer profile on SEDAR.
Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. The forward-looking statements contained in this release, including without limitation, the expansion of GGB’s Seventh Sense brand, the expected access to new customers in premier retail locations and the expected opening date of the first GGB shop, 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. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
This announcement does not constitute an offer, invitation or recommendation to subscribe for or purchase any securities and neither this announcement nor anything contained in it shall form the basis of any contract or commitment. In particular, this announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States, or in any other jurisdiction in which such an offer would be illegal.
The securities referred to herein have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), or under the securities laws of any state or other jurisdiction of the United States and may not be offered or sold, directly or indirectly, within the United States, unless the securities have been registered under the Securities Act or an exemption from the registration requirements of the Securities Act is available.
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SOURCE: Green Growth Brands
Zenabis to Supply Premium Recreational Cannabis to Alberta
Zenabis Global Inc. (“Zenabis”) (TSXV: ZENA) today announced that it will formally enter the Alberta recreational cannabis market, supplying retailers throughout the province through a Supply Agreement it has entered into with the Alberta Gaming, Liquor & Cannabis Commission (AGLC). Zenabis will supply seven strains of its premium, adult-use Namastetm products beginning Q1 2019.
Alberta represents the eighth province/territory that Zenabis will supply, and builds on Zenabis’ significant recent momentum in developing sales and marketing channels for its complete range of products. On February 4, 2019 Zenabis announced an agreement with Shoppers Drug Mart, adding a major new retail channel to serve medical patients across Canada.
“We are thrilled to offer our products to Alberta consumers, and to grow our distribution platform in a significant new market,” said Andrew Grieve, Chief Executive Officer of Zenabis. We look forward to continuing the rapid expansion of our distribution relationships in Canada and abroad.”
In addition to Alberta, Zenabis has distribution relationships with government and third-party retailers/distributors British Columbia, Saskatchewan, Manitoba, New Brunswick, Nova Scotia, Prince Edward Island, and the Yukon Territory.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Information
This news release contains statements that may constitute “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information may include, among others, statements regarding the future plans, costs, objectives or performance of Zenabis, or the assumptions underlying any of the foregoing. In this news release, words such as “may”, “would”, “could”, “will”, “likely”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate” and similar words and the negative form thereof are used to identify forward-looking statements. In this news release, forward-looking statements relate, among other things, to: the sale of Zenabis products in Alberta pursuant to the supply agreement; and the conversion, expansion and optimization of Zenabis’ facilities. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur. Forward-looking information is based on information available at the time and/or management’s good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond Zenabis’ control. These risks, uncertainties and assumptions include, but are not limited to, those described Zenabis Management Information Circular dated November 23, 2018, a copy of which is available on SEDAR at www.sedar.com, and could cause actual events or results to differ materially from those projected in any forward-looking statements. Furthermore, any forward-looking information with respect to available space for cannabis production is subject to the qualification that management of Zenabis may decide not to use all available space for cannabis production, and the assumptions that any construction or conversion would not be cost prohibitive, required permits will be obtained and the labour, materials and equipment necessary to complete such construction or conversion will be available. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Zenabis does not intend, nor undertake any obligation, to update or revise any forward-looking information contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.
SOURCE: Zenabis Global Inc.
Gabriella’s Kitchen Announces Joint Venture with Eximius Coffee LLC to Introduce Cannabis and CBD-Infused Ready to Drink Cold Brew Coffee and Pods
Gabriella’s Kitchen Inc. (“GABY” or the “Company”) (CSE: GABY), an innovative and leading-edge cannabis wellness company, is pleased to announce a joint venture (“JV“) with Eximius Coffee LLC (“Eximius”) to launch a line of cannabis and CBD infused coffee beverages and infused single serve grounds suitable for steeping. Eximius is the third largest coffee importer in the U.S. with products sold in retail grocery stores throughout the U.S. under a variety of brand names, including Cappio™. The economics of the transaction will see an equal sharing of costs and revenues between the joint venture partners.
The cold brew coffee market is on a tear, growing 12% in volume and 14% in retail sales in 2017 according to Beverage Marketing Corp., New York.
The cannabis infused cold brew coffees will be manufactured at The Oil Plant (“TOP“) GABY’s licensed manufacturing facility in Santa Rosa, California using high grade quality oil extractions for which TOP has become known. TOP’s oils and extracts became immortalized in the film, Weed the People, a documentary by Ricki Lake and Abby Epstein which tells the real-life experiences of families who used oil manufactured by TOP to treat their children’s cancer, and realized amazing success. The cannabis-infused coffees will in turn be distributed to licensed retailers (also known as dispensaries) by Sonoma Pacific Distribution, a licensed distributor that is currently in the process of being acquired by GABY as announced in the Company’s press release issued October 23, 2018.
The Hemp derived CBD infused cold brew coffee will be manufactured by Xtract Xperts using hemp CBD oil extracted in their facility in Oregon and will be launched into the mainstream market, as legally allowable, for distribution using GABY’s relationships and infrastructure.
GABY and Eximius are concluding the logistics of infusing single serve coffee pods with cannabis and expect to be able to bring those to the licensed market very soon. This joint venture also encompasses the development, launch and distribution of similar products infused with CBD for the mainstream market.
According to a July 2018 report, which she authored, Mimi Bonnett, Director – Food And Drink, Food Service for Mintel International Group, Ltd. identified that “Millennials show strong category engagement, consuming a range of coffee products, and show strong interest in innovative offerings, including ready to drink coffees with new ingredients and added functionality”. In the same report, Ms. Bonnett also stated that “…the $14.4 billion coffee market continues on a positive path in 2018, buoyed by a thriving ready-to-drink coffee segment and sustained growth in single-serve formats.”
“This joint venture validates GABY’s strategy. In 2018 we worked hard to build our infrastructure. In 2019 this infrastructure will serve as the catalyst to catapult our growth,” said Margot Micallef, Founder & CEO of GABY. “We are honored that our first publicly-announced joint venture is with a family-owned company who shares our mission and vision and also believes that quality products enhance people’s quality of life.” she concluded.
“Eximius prides itself on staying at the forefront of what its customers seek,” said Carlos de Aldecoa, CEO and the third-generation family member to lead Eximius. “We know that cannabis and CBD is becoming an important part of our consumers’ wellness strategies and we are honored to be partnering with GABY, a mission-based, family-founded company in bringing enhanced cold brew beverages with unique characteristics and functionalities to market.”
“A key aspect of GABY’s strategy is to be a leader in normalizing cannabis and CBD consumption,” Margot Micallef, added. “We are heavily focussed on bringing high-quality products to market that consumers can incorporate into their day-to-day lives. We expect to continue bringing such products to market through our own innovation, acquisition or through excellent partnerships such as our JV with Eximius.”
Disclaimer and Forward-Looking Information
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release. Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, certain of which are beyond the control of Gabriella’s Kitchen Inc. Forward-looking statements are frequently characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. These statements are only predictions. 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. Forward looking statements include, but are not limited to, the anticipated closing of the Sonoma Acquisition, the anticipated closing of other accretive acquisitions in 2019, the anticipated hiring of a qualified President and COO in a timely manner, the Company’s ability to raise funding to achieve its objectives in 2019 and the anticipated availability of the Company’s Infused Products. The Company assumes no obligation to update forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
TOP is a wholly owned subsidiary of GABY. TOP owns cannabis license in California. Cannabis is legal in the State of California however cannabis remains illegal under United States (“U.S.”) federal laws. The U.S. Department of Justice issued guidance in 2013 indicating that it will focus on certain enforcement priorities, outside of which it will generally not enforce federal prohibitions on cannabis in U.S. states that have authorized this conduct so long as the U.S. state has implemented a strong and effective regulatory program. This federal guidance is subject to change, rescission or alteration by other federal government policy pronouncements at any time. TOP’s business is conducted in a manner consistent with the State law of California and is in compliance with regulatory and licensing requirements applicable in the State of California. However, the readers should be aware that change in federal guidance on enforcement actions could adversely affect TOP’s ability to access private and public capital required in order to support continuing operations and its ability to operate in the U.S.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Gabriella’s Kitchen
Ontario: Fire & Flower announces two cannabis store agreements
Fire & Flower Holdings Corp. (“Fire & Flower” or the “Company”) (TSXV: FAF) is pleased to announce that its subsidiary, Fire & Flower Inc. (“F&F”), has entered into agreements (the “Agreements”) with two of the initial 25 applicants that have been selected by the Alcohol and Gaming Commission of Ontario (the “AGCO”) to apply for cannabis Retail Operator Licences in the East Region of Ontario.
Both of the applicants have submitted their Retail Operator Licence and Retail Store Authorization applications. Following receipt of the Agreements, the AGCO has advised the applicants that their applications will proceed to the eligibility phase of review, where they will be assessed for current and ongoing compliance with the Cannabis Licence Act, 2018 and its regulations.
The Agreements provide F&F with licensing and consulting fees as well as an option to purchase each of the applicant’s interest in the retail locations after the expiry of the lottery process, subject to approval by the AGCO. Development of the retail stores is underway to meet the AGCO’s timeline for opening by April 2019.
“These agreements represent another important step in Fire & Flower’s mission to introduce our elevated education-based approach to adult-use cannabis retail to Ontarians”, said Trevor Fencott, Chief Executive Officer of Fire & Flower. “They represent a strong vote of confidence in Fire & Flower’s best-in-class expertise to assist these applicants to develop and operate a highly regulated business within an aggressive timeline.”
Fire & Flower currently operates retail cannabis and accessory stores in Alberta and Saskatchewanand has a wholesale cannabis supply business in Saskatchewan. As part of its growth strategy, the Company intends to continue applying for licences for retail shops in Alberta, Saskatchewan and in all provinces that allow private cannabis sales, including Ontario, British Columbia and Manitoba.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
This news release contains certain forward-looking statements and forward-looking information (collectively referred to herein as “forward-looking statements”) within the meaning of applicable Canadian securities laws. All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “anticipate”, “achieve”, “could”, “believe”, “plan”, “intend”, “objective”, “continuous”, “ongoing”, “estimate”, “outlook”, “expect”, “may”, “will”, “project”, “should” or similar words, including negatives thereof, suggesting future outcomes. Forward-looking statements in this news release include, but are not limited to, statements regarding the granting of a Retail Operator License and Retail Store Authorization to each of the applicants, the approval by the AGCO of the Agreements, any licensing and consulting fees to be paid to F&F and the opening of the retail stores by April 2019. Management of the Company believes the expectations reflected in such forward-looking statements are reasonable as of the date hereof but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon. Various material factors and assumptions are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking statements. Those material factors and assumptions are based on information currently available to the Company, including data from publicly available governmental sources as well as from market research and industry analysis and on assumptions based on data and knowledge of the retail cannabis industry which the Company believes to be reasonable. However, although generally indicative of relative market positions, market shares and performance characteristics, such data is inherently imprecise. While the Company is not aware of any misstatement regarding any industry or government data presented herein, the retail cannabis industry involves risks and uncertainties and is subject to change based on various factors.
Forward-looking statements are not a guarantee of future performance and are subject to and involve a number of known and unknown risks and uncertainties, many of which are beyond the control of the Company and which may cause the Company’s actual performance and results to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements, including those risks identified under the heading “Risk Factors” in the Company’s filing statement dated February 6, 2019 as filed on SEDAR atwww.sedar.com.
Any forward-looking statements are made as of the date hereof and, except as required by law, the Company assumes no obligation to publicly update or revise such statements to reflect new information, subsequent or otherwise.
SOURCE: Fire & Flower Inc.
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