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Sunniva Announces Closing of CAD $4.3 Million Short Term Bridge Financing

Vlad Poptamas

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Sunniva Inc. (“Sunniva”, the “Company”, “we”, “our” or “us”) (CSE: SNN) (OTCQB: SNNVF), a North American provider of cannabis products and services, is announcing and closing a non-brokered private placement (the “Offering“) of CAD $4,300,000 for a total of 4,300,000 units of the Company (“Units“). Proceeds of the Offering will be used to provide short term working capital for operations at the Company’s extraction facility in California, purchase of additional biomass inventory, capital costs at the Sunniva California Campus and general corporate purposes. Each Unit consists of a principal amount of unsecured promissory notes of the Company (“Promissory Notes“) and common share purchase warrants of the Company (“Warrants“). The closing included an insider of the Company subscribing, directly or indirectly, for CAD $1,000,000 for a total of 1,000,000 Units which demonstrates management and insiders’ commitment to the Company. The Company anticipates holding a secondary closing of the Offering within the next 10 days.

The Units issued under the Offering have the following terms:

Promissory Notes

  • Maturity:

The earlier of (i) two business days following receipt by the Company of proceeds from the sale of any or all of the Company’s Canadian assets following the closing date, which, in the aggregate, are equal to or greater than the proceeds of the Offering; and (ii) 6 months from the closing date. 

  • Interest Rate:

10% (annual rate).

Warrants

  • Number of Warrants:

0.1897 Warrants per Unit (each Warrant entitles the holder to acquire one common share of the Company at the Warrant Exercise Price).

  • Warrant Exercise Price:

CAD $5.27 per Warrant.

  • Warrant Term:

24 months from closing.

A finder’s fee of 5% payable in cash was paid to certain investment advisors for introducing certain purchasers of Units to the Company.

The Promissory Notes and Warrants have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Promissory Notes or Warrants in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.

For more information please visit: www.sunniva.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.

 

SOURCE Sunniva Inc.

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Cannabis

Ryerson’s Chang School of Continuing Education Will Offer Business of Cannabis Course in Brampton This Spring

Vlad Poptamas

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Photo source: ce-online.ryerson.ca
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Ryerson University’s Raymond G. Chang School of Continuing Education announced today that it will be offering its course on The Business of Cannabis (CZEN 420) in Brampton. Classes will run from May 8 to July 31 on Wednesdays, from 6:30 p.m.–9:30 p.m.

Offering this cannabis course in Brampton is a natural progression, given that the City of Brampton was one of the first Ontario cities to open a cannabis retail store earlier this month.

“The legalization of recreational cannabis has presented an exciting array of employment and business opportunities throughout the Canadian market,” said Marie Bountrogianni, Dean of The Chang School. “We look forward to bringing the Business of Cannabis to the Brampton community to help adult learners build their capacity to contribute to this dynamic and growing industry.”

Building on Ryerson’s expertise in entrepreneurship education, The Business of Cannabis explores a range of topics including financing for cannabis businesses and the complex regulations pertaining to the cultivation, processing, and distribution, marketing and selling of cannabis. Students learn how to apply entrepreneurship principles such as opportunity identification and evaluation, lean methods and bootstrapping. They will also have the opportunity to create a business plan and get in-person access to key cannabis industry leaders during planned panel discussions.

“Our programming is shaped by a diverse group of advisors who lead the way in the industry. Their expertise in business strategy and development, branding, science, health, as well as law and regulation has allowed Ryerson to offer this one-of-a-kind program. This is extremely important for an area that is complex and continues to change at a breakneck speed,” said Linda Koechli, Program Director, Business.

The Chang School of Continuing Education recognizes the societal need for education and awareness about cannabis in order to support this growing and changing industry. The objective of the course is to give Canadian entrepreneurs a competitive edge in seizing the opportunities available in what has become a billion dollar business in Canada. The course will increase employability for those seeking entry- or intermediate-level functional positions in the cannabis industry.

The Business of Cannabis is just one of many innovative and forward-thinking courses offered by The Chang School in Brampton. The institution has been offering courses on cybersecurity since January 2019. For spring, The Chang School will once again be offering courses in in this timely subject area: Digital Forensics Systems (CKDF 130) and Continuity and Risk Management (CSCI 243) will be available to help meet the demand for skills needed in the field.

Visit this website for more information about The Chang School’s The Business of Cannabis course.

Ryerson University’s G. Raymond Chang School of Continuing Education is Canada’s foremost provider of university-based adult education, facilitating access to the university’s renowned, professionally relevant courses and programs. Our mission is to provide accessible lifelong learning through innovative programming that empowers adults to reach their life and career goals. We offer 81 certificate programs (31 of which can be completed entirely online), 12 part-time degree programs, and 65 course series. Our Experiential Learning Exchange (ELX) offers self-driven instruction that emphasizes hands-on, project-based learning and connects students with experienced industry leaders through coaching, master classes, and professional networking.

SOURCE Ryerson University

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Cannabis

Aphria Secures Cannabis Cultivation License in Germany

Vlad Poptamas

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Photo source: massroots.com
Reading Time: 1 minute

 

Aphria Inc. (“Aphria” or the “Company“) (TSX: APHA and NYSE: APHA) today announced that its German subsidiary Aphria Deutschland GmbH (“Aphria Germany“) has secured the previously announced license for the domestic cultivation of medical cannabis from the German Federal Institute for Drugs and Medical Devices (“BfArM“), following the conclusion of a mandatory 10-day standstill period for public contracts. Aphria was granted a cultivation license for four of the nine total lots awarded by BfArM and is awaiting the completion of the tender process for the four remaining lots under review, one of which was provisionally awarded to Aphria Germany.

“Aphria thanks the BfArM for their diligent examination and validation of our approach for domestic cultivation with this license,” said Hendrik Knopp, Managing Director of Aphria Germany. “Construction on our 8,000 square meter indoor cultivation facility is already underway and we anticipate it will be fully operational by Summer 2020. We are pleased to additionally support German patients in the upcoming months with high-quality imported cannabis flower and oils from Denmark and Canada.”

Aphria Germany is building its indoor growing facility in Neumünster and is completing work on a state-of-the-art GMP-certified cannabis vault in Bad Bramstedt for the import of cannabis flowers and oil from Canada and Denmark. Aphria Germany also holds a 25.1% interest in Berlin-based Schöneberg Hospital, which provides access to both doctors and patients for education on the benefits of medical cannabinoids. Earlier this month, the company launched CannRelief, a CBD-based nutraceutical and cosmetics product line for the German market, produced in the EU and distributed by CC Pharma, a subsidiary of Aphria Inc. with access to more than 13,000 pharmacies throughout Germany.

We Have A Good Thing Growing

 

SOURCE Aphria Inc.

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Cannabis

Introducing Lab Effects, The Sleeping Giant Of The Cannabis Terpene Industry

Vlad Poptamas

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Photo source: pinterest.co.uk
Reading Time: 2 minutes

 

Since 2012, Lab Effects, the cannabis industry’s longest running terpene laboratory, has been working behind the scenes engineering products for many of the industries well-known brands. Many of whom have stayed quiet for fear of revealing the secret source behind their award-winning products. Today, for the first time in seven years, the company has stepped out from behind the curtain and announced the launch of its new website http://www.labeffects.com.

“Previously only companies who knew us through word of mouth could access the breadth of our offerings,” said Scott Holden, CEO, and Founder of Lab Effects. “Our new website culminates years of terpene science advancement. Now everyone has access to our terpene blends in a wide variety of formats that satisfy virtually any application a manufacturer could conceive.”

Until recently, product manufacturers were limited in how they could manipulate terpenes. Lab Effects has achieved the ability to render any terpene profile into formats such as water-soluble liquids, powders, and static free high speed flowable and compressible powders. Now, the sky is the limit when it comes to formulations of any kind: food, beverage, pharmaceutical, topical, and much more.

“Lab Effects presents the ability for any manufacturer to achieve a much broader formulation goal that would not have been technically feasible by utilizing terpenes in their natural state,” Holden said. “Lab Effects offers a toolkit for product manufacturers who want to leverage the power of terpenes, which are now being widely recognized as one of the secrets behind the most efficacious cannabis formulations.”

Consider the hops used in making beer. Humulene, a terpene found in hops, influences the flavor and aroma of beer…and that’s just one isolated terpene. Imagine what you can do with hundreds of isolated and blended terpenes. Picture a menu of beers with cannabis profile terpenes: Chocolate Thai Porter, Tangerine Haze Wheat, Durban Poison IPA. You get the flavor, aroma, and effects of each coveted terpene blend (without the THC).

According to Lab Effects, the floodgates have opened for product innovation in the cannabis industry and beyond. Browse their extensive collection of pure terpenes (both cannabis-derived and botanical) at www.labeffects.com.

 

SOURCE Lab Effects

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