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CannTrust Receives Health Canada Approval for Phase 2 Expansion

Vlad Poptamas

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CannTrust Holdings Inc. (“CannTrust” or the “Company”) (TSX: TRST) (NYSE: CTST) is pleased to announce that its cultivation and processing permit under Health Canada Cannabis Regulations was amended to include the final 20% of its Phase 2 expansion. The entire 450,000 sq. ft. of its perpetual harvest greenhouse in Pelham, Ontario, is now fully licensed.

“We have always been confident that our processes meet and exceed regulatory standards, and we now have further validation of this from our regulators,” said Peter Aceto, Chief Executive Officer. “With this approval, CannTrust is set to meet its plan to reach 50,000kg of annualized capacity at the perpetual harvest greenhouse and continue providing award-winning products in a cost-effective manner.”

CannTrust’s expected production ramp is as follows:

  • The last 20% of the Phase 2 expansion is expected to be operating at full capacity by the end of Q2 2019.
  • Pending Health Canada approval, the Company anticipates planting on its previously announced outdoor land acquisition of 81 acres in Q2 2019 and expects to realize a yield of approximately 1,000kg per acre in 2019. Total 2019 production from this harvest is expected to be approximately 75,000kg.
  • With additional land under letter of intent anticipated to be secured in the near term, the Company’s outdoor cultivation operation is expected to total 100,000kg to 200,000kg of production in the second half of 2020. Production from outdoor cultivation will primarily be used for extraction purposes for products that we anticipate will be permitted based on proposed regulations for additional cannabis products, which include edibles and inhaled extract products.
  • The Company’s Phase 3 expansion of its perpetual harvest greenhouse is expected to add a further 50,000kg of capacity beginning in the second half of 2020. Phase 3 includes productivity and automation enhancements over Phases 1 and 2. Production from the Phase 3 expansion is also subject to Health Canada approval.
  • CannTrust’s combined cultivation operations are expected to reach a total annualized capacity of 200,000kg to 300,000kg in the second half of 2020.

 

SOURCE CannTrust Holdings Inc.

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Cannabis

Shivom and TruTrace Technologies to Explore Clinical Solutions for Cannabis Market

Vlad Poptamas

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Shivom Ventures Limited (“Shivom”), a biotechnology data and analysis company optimising the way DNA is shared, secured and analysed through blockchain and AI technology, and TruTrace Technologies Inc. (CSE: TTT; OTC: TTTSF) (“TruTrace” or the “Company”), which has developed the first integrated blockchain platform that registers and tracks intellectual property for the cannabis industry, announced that the two companies have signed a letter of intent (“LOI”) to establish a strategic working relationship. The companies will explore a partnership to utilize both Shivom and TruTrace’s blockchain solutions in order to disrupt the global medicinal and recreational cannabis markets.

Through the LOI, Shivom is entering into the booming cannabis market, which is projected to hit US$40 billion by 2024 – nearly triple the US$14.9 billion estimated to be spent this year, according to ArcView Market Research and cannabis industry analysis firm BDS Analytics.

“Shivom is excited to enter the cannabis market via a strategic partnership with TruTrace, which has developed the first integrated blockchain platform to register and track IP in the cannabis industry,” said Shivom CEO, Henry Ines. “As the industry is still in its early stages in terms of understanding and uncovering all of the medicinal benefits associated with the use of CBD, Shivom is keen to work with leading organizations in the space such as TruTrace to further uncover additional therapeutic benefits based on one’s genomic profile and unique personal health information. Shivom anticipates significant opportunities to collaborate with TruTrace and its partners to provide clinical research opportunities, medical insights and personalized healthcare products to consumers and patients within the global cannabis ecosystem.”

“Shivom has developed some very interesting technology that combines genomics, cryptography and AI, and we are excited to begin collaborating with them,” said TruTrace CEO, Robert Galarza. “We plan to explore development and integration opportunities to advance clinical research, and bring greater transparency, insights and viability to the legal medical and recreational cannabis industry.”

For more information about Shivom please visit here
To read more about our affiliation with Living DNA please visit here
To read more about our affiliation with Vitl please visit here
To read more about our affiliation with Chronomics please visit here

 

SOURCE TruTrace Technologies Inc.

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Cannabis

Legally Growing Cannabis in the US: 6 Things Your Business Needs to Know – Freedonia Group

Vlad Poptamas

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Photo source: metalsnews.com
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The US cannabis market is on track for major expansion through 2023, with a new Freedonia Group study projecting 12% annual sales growth for the supplies used to cultivate the plant through 2023.

Download the new white paper Legally Growing Cannabis in the US: 6 Things Your Business Needs to Know today to learn more.

https://www.freedoniagroup.com/Content/Legally-Growing-Cannabis-in-the-US

The paper answers these questions and more:

  1. Does the law decriminalize or legalize cannabis?
  2. Can cannabis legally be sold or homegrown in the state?
  3. How developed is the state’s industrial hemp program?
  4. Are production and sales operations required to be vertically integrated?
  5. Has regulation of the state’s medical and adult-use programs been consolidated?
  6. How will the law affect black markets in the state?

An industry study Cannabis Growing Market in the US is scheduled to be published in July. Historical data and forecasts for 2023 and 2028 will include cannabis production, in addition to equipment and consumables demand. Information regarding the leading state markets will also be included.

 

SOURCE The Freedonia Group

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Cannabis

Geyser Brands Inc. Appoints Dr. Bin Huang to Board of Directors, Gordon Clissold as CFO

Vlad Poptamas

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Geyser Brands Inc (TSXV:GYSR) (“Geyser Brands” or the “Company”) is pleased to announce that the Company has appointed Dr. Bin Huang to the Board of Directors, subject to approval from the TSXV Exchange.

Dr. Huang is a seasoned life-sciences executive with experience in strategy and new business development, financing and public markets, corporate governance, as well as operations management in North America and Asia. Her work experience includes 18 years as CEO of life-sciences companies, most recently CEO of  Emerald Health Therapeutics Inc., senior management roles in both startups and Fortune 500 corporations, analyst and partner at a premier investment banking firm, board member of public and private companies as well as NGOs, strategic adviser to organizations and entrepreneurs. She has a proven track record in dealing with multiple stakeholders, leading cross-functional and multinational teams, communicating with boards of directors and shareholders, managing strategic partnerships including CROs and CMOs. Dr. Huang holds a PhD in cell biology (University of East Anglia, UK), Postdoctoral in plant molecular biology (Purdue UniversityUSA), MBA in finance (University of Toronto, Canada).

“The Board of Directors are extremely pleased that Dr. Huang has accepted our offer to join our growing company” said Brad Kersch, Chairman of the Board. “Her depth of experience in life sciences and her leadership demonstrated in the corporate world, particularly in the Cannabis industry, will provide unparalleled value and oversight to the Company’s development.”

The Board of Directors also announces the resignation of David Eto from the Board, in order to take up a more operational role in the Company. More details will follow in due course.

The Company is also pleased to announce the appointment of Gordon Clissold as Chief Financial Officer of the Company effective immediately, subject to approval from the TSXV Exchange. CEO Andreas Thatcher said, “Gordon brings tremendous experience and added bench strength in both operational and financial management and we are very pleased he’s agreed to join the Geyser executive team.”

Gordon is a Chartered Professional Accountant with over 20 years of experience as an operational and financial manager for both public and private companies. His career experience spans multiple industries that include technology, manufacturing, wholesale distribution, and professional services. His management competencies encompass organizational leadership, strategic planning, corporate finance, financial modelling, ERP and financial systems implementation, internal control development, and due diligence for mergers and acquisitions.

Gordon obtained his accounting designation in 1995, was awarded the Fellowship designation in 2006, and has been awarded life membership as Chartered Professional Accountant.  He is a Past President of the Certified General Accountants of BC, in addition to having served nine years as a director on their board of governors and a three-year term on the national board of CGA-Canada.

Mr. Clissold replaces Barry McKnight as Chief Financial Officer. The Board of Directors thanks Mr. McKnight for his service to the Company and wishes him well in his future endeavors.

The Company also announces that as a result of Mr. McKnight’s departure, Jennifer Hanson will replace  as the Company’s Corporate Secretary, subject to approval from the TSXV Exchange.  Ms. Hanson brings over 6 years’ experience acting as Corporate Secretary for several publicly listed companies. CEO Andreas Thatcher said, “We couldn’t be happier to have Jennifer come on board in this role. She brings a tremendous amount of knowledge and expertise.”

 

SOURCE Geyser Brands Inc.

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