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Cannabis Company Revolution Enterprises Names Former Tribune Publishing CEO and Publisher of the Chicago Tribune Tony Hunter Chair of Board of Directors

Vlad Poptamas

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Photo source: robertfeder.com
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Revolution Enterprises CEO Mark de Souza announced today that prominent media executive and corporate leader Tony Hunter will become chair of the company’s board of directors. In addition, de Souza said Revolution, a national leader in the cannabis industry, is entering Arkansas.

Hunter is an accomplished media-operating executive who is known for having led the Chicago Tribune Company during a time of unprecedented change by focusing on operational excellence, digital innovation and strategic partnerships. He ascends to board chairman during a critical period of growth for Revolution.

Founded in Illinois, the home state of several breakout cannabis companies, Revolution is expanding beyond the medical market in its home state, offering a broad array of consumer packaged goods in addition to preparing to enter the adult-use market in the newly legalized Illinois market and in other states. In recent months, Revolution has also expanded operations to Florida and acquired HempVet, a hemp-derived CBD pet products company.

“Tony is a remarkable leader whose passions and expertise perfectly fit Revolution,” said de Souza, who took the helm in October 2016. “He has a proven track record of building robust businesses by creating high performance teams and an intense focus on the execution of strategic priorities. His integrity and focus on profitability, coupled with disciplined corporate governance, uniquely matches our board chair needs as we enter this next chapter in Revolution’s evolution.”

“I’m excited to join Mark and his team in establishing Revolution as a leader in the cannabis and hemp sector,” Hunter said. “Revolution’s business is based on putting patients and consumers first, operational excellence, and expansion that is thoughtful and strategic. I look forward to helping the company in its next stage of growth as we double down on these fundamentals and open new markets across the country.”

Hunter spent over 20 years at the Tribune Company, including eight as Publisher of the Chicago Tribune. He is recognized for his success as an architect of change and a leader of business transformation. Given his depth of experience in the digital ecosystem, Hunter now works closely with executives and organizations to help them capitalize on marketplace opportunities and proactively address digital disruption. Hunter became an advocate for medical cannabis after seeing loved ones benefit from it in fighting debilitating chronic health conditions.

Hunter’s appointment coincides with Revolution’s expansion into Arkansas, which approved medical cannabis by ballot measure in 2016 and opened for legal sales in May 2019. Revolution will serve as the exclusive strategic consulting partner to Delta Medical Cannabis Co., bringing its operational expertise, full brand suite and product lines, and commitment to community to the “Natural State.” Delta Medical operates one of five licensed cultivation and processing facilities in the state, and broke ground on construction in January 2019. Revolution will also bring vertical integration experience to Delta Medical as it begins to evolve its retail operations on-line in the state.

“We are proud that our reputation for success from pre-seed research and development all the way to operations and distribution has made Revolution a sought-after partner for vertically integrated and niche operators across the country,” Oleg Movchan, Revolution’s Chief Strategy Officer and Deputy CEO said. “Entering Arkansas is consistent with our strategy of expansion into strictly regulated, limited license market states. We look forward to continuing to extend our footprint into additional states in the coming months.”

“Delta Medical is thrilled to join forces with Revolution to ensure our patients receive best-in-class care,” Doug Falls, CEO of Delta Medical said. “Revolution’s philosophy, hands-on approach, and experience running businesses like ours make this relationship a natural. We are excited for what we can accomplish as a team.”

 

SOURCE Revolution Enterprises

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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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