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Cannabis Companies go Global as the Market Accrues Credibility

Vlad Poptamas

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Cannabis legalization continued its relentless move forward as Illinoisbecame the 11th U.S. state, including the District of Columbia, to fully legalize adult-use of cannabis. Illinois’ house approved the bill with a bipartisan vote of 66-47, which was passed by the Senate in late May. Illinois’ Governor J.B. Pritzker held a firm stance on legalizing cannabis when he campaigned for his position. Primarily, most of the states that have legalized cannabis entirely are located along the west coast or the northeast region of the U.S. Prior to IllinoisMichigan became the 10th state to legalize cannabis back in November 2018 during the U.S. midterm elections. The legalization of cannabis in the U.S. dates back to the 1990s when California first legalized medical use. Following California’s lead, other states such as OregonAlaskaWashingtonMaine, and Colorado all legalized medicinal cannabis just a few years after. Moreover, all of these states have since legalized the recreational use of cannabis. However, the process to legalize adult-use did not come into effect for more than a decade later when Colorado and Washingtoncompletely reshaped the cannabis industry when they became the first states to legalize recreational use back in 2012. North of the border, Canada came into the spotlight when the nation completely legalized cannabis in October 2018, making it the second nation to ever do so, following Uruguay. It is also the only G7 country to have fully legalized the plant. However, the remaining G-7 nations, except for Japan, have all implemented a partial of full medical cannabis legislation, while some have decriminalized the plant for moderate personal use. Overall, numerous large nations have already moved to adopt a form of cannabis legislation. And as a result, more countries are expected to be influenced and explore opportunities within the marketspace. According to data compiled by ArcView Market Research and BDS Analytics, the worldwide consumer spending on legal cannabis was approximately USD 12.2 Billion. By 2022, consumer spending is projected to reach USD 31.3 Billion by 2022 while growing at a CAGR of 26.7% over a five-year frame from 2017. Canopy Rivers Inc. (OTC: CNPOF) (TSX-V: RIV), Tilray, Inc. (NASDAQ: TLRY), Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB), OrganiGram Holdings Inc. (NASDAQ: OGI) (TSX-V: OGI), Altria Group, Inc. (NYSE: MO)

Globally, there are many other nations that have also adopted a cannabis legislation. Predominantly, most countries are adopting cannabis specifically and exclusively for medical purposes as most governments are concerned over the use of recreational cannabis due to the psychoactive properties contained within the marijuana plant of the cannabis family. The marijuana plant is generally known to be rich with THC, which causes cerebral-altering effects. On the other hand, marijuana’s counterpart, hemp, is known to contain mainly CBD. Although THC and CBD are both found within a cannabis plant, they are completely different in their biological makeup. CBD is the non-psychoactive compound within the hemp plant and due to its properties, many countries and U.S. states have legalized its use. Within the U.S., consumers can easily find CBD products in their local convenience stores or pharmacies while on a global-scale, medical patients can obtain CBD-based products to treat a variety of conditions such as cancer, chronic pain, multiple sclerosis, epilepsy, Alzheimer’s and Parkinson’s. Additionally, studies have shown that CBD doesn’t provide psychoactive traits, prodding more countries to legalize the plant as it can be used as an alternative to current traditional medicines. “We’re seeing it in everything from the taffies to gummies and caramels to coffee, pet treats, shampoos, bath balms,” said Bethany Gomez, Managing Director at Brightfield. “I have never seen an industry grow this quickly, and I’ve never seen an industry with so much headwind.”

Canopy Rivers Inc. (OTC: CNPOF) (TSX-V: RIV) is also listed on the TSX Venture Exchange under the ticker (TSX-V: RIV). On May 28th the company announced breaking news that, “has received its final cultivation licence from Health Canada.  All 700,000 sq. ft. of operating space at Vert Mirabel is now licensed for cannabis production.  Vert Mirabel was established in December 2017 between Canopy Growth, Canopy Rivers, and Les Serres Stéphane Bertrand (“Bertrand”).

“We are thrilled that the operational infrastructure at Vert Mirabel is now fully online with over 500,000 sq. ft. already in production,” said Olivier Dufourmantelle, Chief Operating Officer, Canopy Rivers. “Vert Mirabel is a key asset for Canopy Rivers as it provides exposure to a commercially scaled source of locally grown, premium quality cannabis for distribution into Québec and across the country.”

The licence for Vert Mirabel increases the facility’s growing space by 190,000 sq. ft. It brings Canopy Growth’s total Canadian licensed production footprint to approximately 4.6 million sq. ft, another step towards its nearly 5.6 million sq. ft. national platform. The Vert Mirabel facility leverages Bertrand’s multi-generational greenhouse operational expertise to produce high-quality cannabis.

“The final licence for Vert Mirabel strengthens our operations and will allow us to increase supply to meet the recreational market demand,” said Mark Zekulin, President and co-CEO, Canopy Growth. “From everyone at Canopy Growth, we congratulate the Bertrand family and their team for achieving a fully licensed, large-scale cannabis operation in under 18 months.”

Bertrand is a large-scale greenhouse operator and, prior to converting to cannabis, it was the largest producer of pink tomatoes in Canada. “We are proud to announce that our venture with Canopy Growth and Canopy Rivers has reached this milestone,” said Stéphane Bertrand. “Obtaining this licence will allow us to pursue our production goals in order to expand our footprint to meet the needs of the Québec market.”

For our latest “Buzz on the Street” Show featuring Canopy Rivers Inc. recent corporate news, please head over to:

 

Tilray, Inc. (NASDAQ: TLRY) is a global pioneer in the research, cultivation, production and distribution of cannabis and cannabinoids currently serving tens of thousands of patients and consumers in 12 countries spanning 5 continents. Tilray, Inc. recently announced that its wholly-owned subsidiary Tilray Portugal Unipessoal Lda. had received a standard manufacturing license and a Good Manufacturing Practices (GMP) certification, in accordance with the European Medicines Agency’s (EMA) standards, for its Biocant Park manufacturing facility in Cantanhede, Portugal. This license and certification allow Tilray Portugal to manufacture and export GMP-certified dried cannabis as an active substance for medicinal products. Tilray’s EU Campus in Portugal is a multi-faceted production facility that includes indoor, outdoor and greenhouse cultivation sites; research and quality control labs; as well as processing, packaging and distribution sites for medical cannabis and cannabinoid-containing medical products. To date, Tilray has invested approximately EUR 20 Million in the facility, which totals nearly 250,000 sq. ft. with additional room to expand. The site also serves as a hub supporting Tilray’s clinical research and product development efforts across Europe. The Tilray EU Campus currently employs over 100 people, and that number is expected to double by the end of 2019, with production ramping up and multiple harvests anticipated in the coming months. An official ribbon-cutting ceremony celebrating the inauguration of Tilray’s EU Campus was hosted in April 2019. “This licensing and certification marks a critical milestone for our growth in Portugal and Europe. We’re proud to increase our international export capacity and are looking forward to exporting dried cannabis as active substances from our EU Campus to legal jurisdictions in the EU and other international markets,” said Sascha Mielcarek, Managing Director, Europe. “The next phase of GMP certification will allow us to utilize the full capacity of our multi-faceted facility and continue to serve more patients in-need.”

Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB), headquartered in Edmonton, Alberta, Canada with funded capacity in excess of 500,000 kg per annum and sales and operations in 24 countries across five continents, is one of the world’s largest and leading cannabis companies. Aurora Cannabis Inc. recently announced that the Company has been selected by the German Bundesinstitut für Arzneimittel und Medizinprodukte BfArM (Federal Institute for Drugs and Medical Devices) as one of three winners in the public tender to cultivate and distribute medical cannabis in Germany. The Company was awarded the maximum number of 5 of the 13 lots in the tender over a period of four years with a minimum supply of 4000kg total. The cannabis produced will be sold to the German government and supplied to wholesalers for distribution to pharmacies. “We are very proud to have been selected as one of only three companies by the German government, which is a great achievement by our team,” said Neil Belot, Chief Global Business Development Officer. “Having the highest rated concept is a strong validation of the Aurora Standard cultivation philosophy, as well as of our track record in the delivery of safe and high-quality medical cannabis products to the German system. We commenced delivering dried cannabis flower from Canada to the German market in 2017, and recently added cannabis extracts to our offerings for German patients. Winning the tender reflects a natural evolution for Aurora, establishing a more prominent local footprint in this important international market with over 82 million people.”

OrganiGram Holdings Inc. (NASDAQ: OGI) (TSX-V: OGI) is a NASDAQ Global Select and TSX Venture Exchange-listed company whose wholly owned subsidiary, Organigram Inc., is a licensed producer of cannabis and cannabis-derived products in Canada. Organigram Holdings Inc. recently announced that it had been selected as one of the four Canadian launch partners of PAX Era, the premium oil vaporizer created by PAX Labs, Inc., a leading consumer technology brand in the design and development of premium vaporizers for dry flower and concentrates, when concentrates become legal in Canada later this year. Much like Organigram’s own Edison Cannabis Co. brand, the PAX portfolio features disruptive, industry-leading technology, on course to redefine the experience of vaping in Canada – and around the world. Organigram will produce and fill Edison Cannabis Company-branded pods specifically for the PAX Era platform. The pods will be filled onsite at Organigram’s Moncton facility at the Company’s Phase 5 refurbishment. “Cannabis 2.0 – the next generation of legal, adult use cannabis products – represents a world of opportunity,” says Greg Engel. “Innovative partnerships with exceptional companies like PAX mean our own product offering grows and our customers have access to cutting-edge technology and cannabis experiences.”

Altria Group, Inc. (NYSE: MO) wholly-owned subsidiaries include Philip Morris USA Inc. (PM USA), U.S. Smokeless Tobacco Company LLC (USSTC), John Middleton Co. (Middleton), Sherman Group Holdings, LLC. Altria Group, Inc. recently announced that it had entered into an agreement to acquire newly issued shares in Cronos Group Inc., a leading global cannabinoid company, headquartered in Toronto, Canada. The transaction represents a 45% equity stake in Cronos Group, at a price of CAD 16.25 per share, for an aggregate investment by Altria of approximately USD 1.8 Billion(approximately CAD 2.4 Billion). This investment positions Altria to participate in the emerging global cannabis sector, which it believes is poised for rapid growth over the next decade. It also creates a new growth opportunity in an adjacent category that is complementary to Altria’s core tobacco businesses. Altria expects its investment to help Cronos Group accelerate its growth strategies and its R&D and intellectual property development. Additionally, Altria will provide expertise to help Cronos Group thrive in the growing global cannabis market. These services may include regulatory affairs, regulatory science, compliance, government affairs and brand management. “Investing in Cronos Group as our exclusive partner in the emerging global cannabis category represents an exciting new growth opportunity for Altria,” said Howard Willard, Altria’s Chairman and Chief Executive Officer. “We believe that Cronos Group’s excellent management team has built capabilities necessary to compete globally, and we look forward to helping Cronos Group realize its significant growth potential.”

The leading decentralized intelligence solution provider Jarvis+ announces that its Jarvis+ token (JAR) will be listed on the digital asset exchange platform KuCoin at 10PM SGT on June 20, 2019. Supported trading pairs include JAR/BTC, JAR/USDT.

Also known as JarvisPlus, Jarvis+ is the World’s 1st Smart Contract based AI Conversation as Service Platform and a leading Decentralized Intelligence Solution World that empowers everyone and every organization to embrace the era of ‘Community Ecosystem and Smart Economy’, which is being reshaped by the new technologies of blockchain and Artificial Intelligence.

Jarvis+ has two platforms, the Intelligent Community Platform (ICP) and the Decentralized Marketplace Platform (DMP), representing the two stages of Jarvis+ development respectively. ICP as the first stage is a platform of tools and services for blockchain and community, and DMP as the second stage is a decentralized platform for community data and economy and evolved from the first stage.

Intelligent Community Platform (ICP) is infused by three AI capabilities that are Conversational AI, Insightful AI and Cognitive AI, and builds a set of smart services with proven methodologies to start, develop and grow the community economy, which is a brand-new organization ecology in the digital world.

ICP provides

  • ‘Smart Assistant’ as the UI for interacting with online community users through most of the popular online messaging channels, like Telegram, WeChat, Skype, etc.
  • ‘Smart Advisor’ to understand what the top topics are being discussed and who are the KOLs, and then inspire the online community with the thoughtful impaction
  • ‘Smart Operator’ to manage and response to all requirements from online community users, and run various programs to increase the activation and satisfaction for the community ecology

Public blockchain teams, e.g. NEO and TrueChain, have been deploying Jarvis+ ICP to improve engagements with their community members and token holders.

As the community base who are using and loving ICP is growing, the data generation from the community is continuously accelerating. The common consensus is that the data is the powerful fuel for the development of Smart Economy, and the creators of the data ought to benefit from the data they generated, which is also being used by others.

To achieve this democratized well-being, Decentralized Marketplace Platform (DMP) is infused by blockchain technology and developed to make the freedom, willing and opening transaction for data across all used popular channels.

DMP provides

  • ‘Opening Market’ where not only the consumers and providers can exchange the original value of data, but also the investors and partners also can offer various services to enrich the add-values of data
  • ‘Knowledge as Assets’ supporting to digitalize several type of knowledge, such as data, model, algorithm, etc., and make them to become a kind of transactional assets empowering the applications in the Smart Economy
  • ‘Freedom Monetization’ providing a helpful way to monetize the assets, a safe mechanism to protect the incredible value of knowledge in a trustless manner, and a place to maximize the consensus for ‘data economy’

After the final general availability of both ICP and DMP, ‘Jarvis+ Twins’ will be formed to bridge the real community economy and digital smart economy, to connect the real creators of data to the whole virtual ecosystem, and to monetize the value of data between consumers and providers.

Since the project started, Jarvis+ has been recognized by various ecosystem partners, including public blockchain providers, dApp developers, exchange providers, even service providers and local governments.

On June 1, 2019, Jarvis+ successfully organized the Sanya AI and Sci-Tech Innovation Forum with over 150 attendees, and invited experts from Microsoft, Nvidia, Tencent, SenseTime, DFKI and others to share the latest insight on the future of AI.As one of the leading AI start-ups, Jarvis+ also announced the first NLP short-text analytic campaign to enable NLP wave, where NLP sector is recognized as the next wave after matured vision sector.

SOURCE Jarvis+

 

SOURCE FinancialBuzz.com

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Cannabis

Sunniva Announces Closing Of Third Tranche Of Short Term Bridge Financing For Proceeds Of Cad $325,000

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 pleased to announce that it has closed the third tranche of the Company’s non-brokered private placement (the “Offering“), previously announced on August 1, 2019 of CAD $325,000 for a total of 325,000 units of the Company (“Units“). In aggregate the total gross proceeds raised by the Offering was CAD $7.57 million and 7.57 million Units issued. 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“).

As previously disclosed, proceeds of the Offering will be used to provide short term working capital for operations in California, capital costs at the Sunniva California Campus and general corporate purposes.

The Units issued under the Offering have the following terms:

Promissory Notes  

     Maturity: 

6 months from the closing date.

     Interest Rate:

10% (annual rate).

Warrants 

     Number of Warrants:   

0.40 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 $2.50 per Warrant.

     Warrant Term:         

24 months from closing.

A finder’s fee of 5% payable in cash will be 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.

To be added to the Sunniva email distribution list please register at www.sunniva.com/email-alerts.mailto:

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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INTERCURE: CANNDOC signs strategic distribution agreement with S.L.E. of TEVA Pharmaceuticals

Vlad Poptamas

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InterCure (TASE: INCR), announced that subsidiary Canndoc has entered into a strategic distribution agreement with Salomon, Levin, Elstein (S.L.E.,) which is owned by Teva Pharmaceuticals Industries (NYSE: and TASE: TEVA).

Under terms of the agreement, S.L.E. will distribute Canndoc’s GMP products to pharma clients, including hospitals, health maintenance organizations (HMOs) and all pharmacies in Israel, including pharmacy chains. In the future, as regulatory approvals allow, S.L.E. will provide logistics capability for exporting Canndoc’s products to countries that support regulations for the sale and distribution of cannabis products for medical use.

S.L.E. is one of Israel’s leading companies for providing health logistics services and distributes products from dozens of local and international companies. S.L.E. is licensed by the Israeli Ministry of Health, and also holds a GDP distribution license.

“Our agreement with S.L.E., Israel’s leading company in distributing medical products, creates a complete supporting platform for supplying Canndoc’s GMP products to any location in Israel and for countries with similar regulations,” said Canndoc’s Chairman Ehud BarakThrough its S.L.E. partnership, Canndoc has aligned itself with one of the most prominent pharmaceutical companies in the world, for the distribution of cannabis-based medical treatments to countries that recognize the value of these medicines for people in need.”

S.L.E. CEO Aviad Bossi adds, “The agreement brings together our well-established pharmaceutical distribution network with Canndoc’s high quality medical cannabis industry presence and market leadership. Beyond the operations in Israel, this agreement will provide Canndoc significant logistical capabilities that can support Canndoc’s exporting operations from Israel.”

The distribution agreement is set for a 3-year term and includes a mechanism for automatic extension periods of two years each.

Canndoc is one of the first licensed producers, with its GMP-approved medical cannabis Rx products being sold in pharmacies. The engagement in this distribution agreement will broaden Canndoc’s ability to distribute GMP products to its patients within the S.L.E. pharmacy network throughout Israel. In addition, S.L.E. will provide Canndoc significant logistical capabilities in the future supporting Canndoc’s ability to export its products to countries with consistent regulation for the sale and distribution of cannabis products for medical use.

 

SOURCE Canndoc

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Prairie Records Tops the Charts: Named Top Cannabis Retailer in Canada at Grow UP

Vlad Poptamas

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Prairie Records Store Interior
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Westleaf Inc. (the “Company” or “Westleaf“) (TSX-V:WL) (OTCQB:WSLFF) is proud to announce its Prairie Records retail stores have been named top cannabis retailer in Canada at the GrowUP Conference & Expo. Singing a different tune in cannabis retail, the award win is a testament to how Prairie Records is offering Canadian’s a truly unprecedented purchasing experience.

“It is extremely gratifying to have Prairie Records be recognized at one of the industry’s largest events and to be able to stand out amongst a field of very worthy retail competitors,” says Adam Coates, Chief Commercial Officer at Westleaf and Retail Brand Strategist for Prairie Records. “We set out to make waves in a sea of sameness by creating an immersive experience like no other in the marketplace, and we are pleased and honoured to receive this, the first Grow UP Conference retail award.”

Ten companies were nominated in the Grow UP retail category at this year’s event, the first for the industry. Among the nominees were independent stores and well-known national chains. Prairie Records was recognized based on delivering an unparalleled consumer purchasing experience and creating a welcoming brand for cannabis consumers.

Westleaf has four Prairie Records stores open, three in the Saskatoon region and one in Calgary, which is hosting its grand opening tomorrow, September 14. The concept combines the tactile and immersive feel of a vinyl record store with a cannabis purchasing experience. Information about the cannabis strains and strengths are presented on album covers and the customer is enveloped in a warm and welcoming retail experience. The staff are well versed on the product offering and provide educational opportunities for both the experienced cannabis connoisseur as well as the novice consumer.

 

SOURCE Westleaf Inc.

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