Agoracom Blog Home

Posts Tagged ‘Canopy Growth Corp’

$HOLL Announces Closing of $7.9M Private Placement of Special Warrants, Including Full Exercise of Agents’ Option $CRON $GTBIF $INDS $META.ca $FAF.ca $WEED.ca

Posted by Jesse Champagne at 3:39 PM on Tuesday, March 2nd, 2021
Hollister Biosciences Inc. | CSE - Canadian Securities Exchange
  • The Company has now closed the brokered private placement of 21,635,094  Special Warrants and raised gross proceeds of $7,896,809.31

VANCOUVER, BC – March 2, 2021 – Hollister Biosciences Inc. (CSE:HOLL, OTC:HSTRF, FRANKFURT:HOB) (“Hollister” or the “Company”) is pleased to announce, further to its news releases of January 21, 2021, and January 20, 2021, that the Company has now closed the brokered private placement of 21,635,094  Special  Warrants of the  Company  (the  “Special  Warrants”)  at a  price of  $0.365  per  Special  Warrant and raised gross proceeds of $7,896,809.31 (the “Offering”), including 3,825,094 Special Warrants sold pursuant to the exercise in full of the agents’ option granted to the Agents (as defined herein).

Eight Capital acted as sole bookrunner and lead agent on behalf of a syndicate of agents including Haywood Securities Inc. and Paradigm Capital Inc. (together with Eight Capital, the “Agents”) under the Offering.

Each Special Warrant will be automatically exercisable into units of the Company (the “Units”), as described below. Each Unit consists of one common share of the Company (a “Share”) and one-half of one common share purchase warrant (each full warrant, a “Warrant”). Each Warrant will entitle the holder thereof to acquire one Share at a price of $0.50 per Share on or before January 2, 2025, being 46 months following the date of closing of the Offering (the “Closing Date”).

Each Special Warrant will be automatically exercisable, for no additional consideration, into Units on the date (the “Automatic Exercise Date”) that is the earlier of: (i) the date that is three business days following the date on which the Company either (A) obtains a receipt from the applicable securities regulatory authorities (the “Securities Commissions”) for a (final) short form prospectus qualifying distribution of the Units underlying the Special Warrants (the “Qualifying Prospectus”); or (B) files a supplement to a (final) short form base shelf prospectus qualifying the distribution of the Units underlying the Special Warrants (the “Qualifying Supplement”), and (ii) July 3, 2021, being the date that is four months and one day after the closing of the Offering.

Notwithstanding the foregoing, in the event the Company has not received a receipt from the Securities Commissions for the Qualifying Prospectus or filed a Qualifying Supplement on or before March 12, 2021, each holder of Special Warrants shall thereafter be entitled to acquire an additional one-half of one (0.5) Warrant for each Unit to be issued to such holder upon the automatic exercise of the Special Warrants, such that each Unit shall be comprised of one Share and one whole Warrant (collectively, the “Penalty Warrants”), without further payment or action on the part of the holder.

In connection with the Offering, the Company paid the Agents $651,084.20 in commissions and advisory fees and issued 1,441,580 special broker warrants (the “Special Broker Warrants”) to the Agents. Each Special Broker Warrant is automatically exercisable into one broker warrant (a “Broker Warrant”) for no additional payment on the Automatic Exercise Date. Each Broker Warrant will be exercisable into one Unit, subject to adjustment, at $0.365 per Unit for a period of 24 months from the closing of the Offering. Each Unit is comprised of one Share and one-half of one Warrant.

All securities issued in connection with the Offering are subject to a statutory hold period of four months plus a day in accordance with applicable securities legislation ending on July 3, 2021. The net proceeds received from the Offering will be used for working capital and general corporate purposes.

Read more HERE.

TransCanna’s $TCAN.ca Lyfted Farms Set to Increase Cultivation by 300% $VFF.ca $ACB.ca $GTII.ca $TEQ.ca

Posted by Jesse Champagne at 9:51 AM on Tuesday, March 2nd, 2021
tcan-square

  • Company anticipates escalation in cultivation to have direct effect on revenue growth
  • Strategic location of the Company’s new facility takes full advantage of California’s lowest industrial electrical costs
  • “Our new facility gives us a massive competitive cost advantage that will increase our margins and empower us to offer consumers the best products at the most competitive prices,” said Bob Blink

Vancouver, British Columbia–(Newsfile Corp. – March 2, 2021) – TransCanna Holdings Inc. (CSE: TCAN) (FSE: TH8) (OTC: TCNAF) (“TransCanna” or the “Company”) has increased its cultivation capacity by 300%, enabling it to effectively triple production of its most profitable and in-demand product: exotic indoor flower. With this increased cultivation capacity, Lyfted Farms – hailed in the industry for its premium genetics and seasoned team of master cultivators – can now meet consumer-driven demand in Northern California while expanding into the sizable Southern California home containing over 23,000,000 residents.

“We literally cannot keep up with demand as the vast majority of shipments are selling out within days of landing on retail shelves,” said Alan Applonie, General Manager for TransCanna subsidiary, Lyfted Farms. “We have been waiting for the right time to enter the Southern California market but needed this increase in cultivation capacity to effectively build and preserve our reputation for unwavering quality and reliability with our retailers and consumers,” said Mr. Applonie.

In addition to increasing output, the strategic location of the Company’s new Daly facility in Modesto, California, takes full advantage of California’s lowest industrial electrical costs per kilowatt-hour.

“Electricity is the largest direct cost for indoor cultivation so the location of our new facility gives us a massive competitive cost advantage that will increase our margins and empower us to offer consumers the best products at the most competitive prices,” said Bob Blink, CEO of TransCanna.

The additional cultivation rooms coming online within the Daly facility also unlock Lyfted Farms’ ability to leverage its multi-decade relationships within the industry. The expansion in cultivation capacity opens the door for collaboration with other dominant California cannabis lifestyle brands. Ensuing co-branding efforts (soon to be revealed) will be powerful and will impact all meaningful cannabis market segments within the state.

The new developments represent significant strides in TransCanna’s mission to establish itself as California’s leading cannabis conglomerate.

Read more: https://agoracom.com/ir/TranscannaHoldings/forums/discussion/topics/756376-transcanna-s-lyfted-farms-set-to-increase-cultivation-by-300/messages/2306057#message

California Grants #Cannabis Cultivation License to TransCanna $TCAN.ca $VFF.ca $ACB.ca $GTII.ca $TEQ.ca

Posted by AGORACOM-JC at 3:24 PM on Saturday, February 20th, 2021
tcan-square

Game-changing achievement for the budding cannabis enterprise

  • Received a highly coveted cultivation license from the State of California that will accelerate the Company’s cultivation capacity almost immediately
  • license represents a major milestone achievement in its endeavors to be California’s leading fully integrated cannabis cultivator, processor, manufacturer, wholesaler and distributor
  • “Obtaining this license is a significant turning point for TransCanna and opens up the door to the explosive growth we’ve been positioning ourselves for,” said Bob Blink

Vancouver, British Columbia–(February 20, 2021) –  TransCanna Holdings Inc. (CSE: TCAN) (FSE: TH8) (“TransCanna” or the “Company”) is pleased to announce that it has received a highly coveted cultivation license from the State of California that will accelerate the Company’s cultivation capacity almost immediately.

The State of California has granted a cultivation license to Lyfted Farms – a TransCanna wholly owned subsidiary – for its flagship Daly facility in Modesto, California. Bob Blink, TransCanna CEO states “Such cultivation licenses in the region are notoriously difficult to obtain. Current applications are back-logged and not even being considered for processing by the county until the end of 2021.”

For TransCanna, the license represents a major milestone achievement in its endeavors to be California’s leading fully integrated cannabis cultivator, processor, manufacturer, wholesaler and distributor.

“Obtaining this license is a significant turning point for TransCanna and opens up the door to the explosive growth we’ve been positioning ourselves for,” said Bob Blink. “Demand has been consistently outstripping supply for our exotic indoor cannabis strains, and now with this new massive facility receiving approval for cultivation, we can finally meet that demand and continue to scale. This will make us one of the largest licensed facilities of its kind in the State of California.”

In addition to cultivation, the new Daly facility empowers TransCanna to increase its scope of offerings and establish its dominance in the California cannabis supply chain.

The Daly facility will anchor other TransCanna operations and serve as a supply chain hub for third party farms across Northern California, offering secure storage, concentrate manufacturing, wholesale market-making, white label services, and State-wide distribution.

Prior to achieving its cultivation license, the facility gained its distribution license in June 2020. Next, TransCanna is eagerly anticipating its processing license (pending approval by the State of California mid to late March) which will qualify the company to dry, cure, trim, grade, and package cannabis onsite. In addition to saving time and money for in-house brands with on-site processing, the processing license will enable TransCanna to open up new revenue streams servicing third party growers.

“California’s cannabis market is $5 billion in sales and growing, and we are well on our way to establishing ourselves at the epicenter of this category with our cultivation, processing, wholesaling and distribution arms of the entire California supply chain,” said Bob Blink, TransCanna CEO.

About TransCanna

TransCanna Holdings Inc. is a California-based, Canadian-listed company building cannabis-focused brands for the California lifestyle, through its wholly-owned California subsidiaries.

TransCanna’s wholly owned subsidiary Lyfted Farms is California’s authentic cannabis brand whose pioneering spirit has been continuously providing the finest cannabis flower genetics and cultivation methods since 1984. The Lyfted Farms brand of exclusive cannabis flower is sold at premium retailers throughout the state. With its new cultivation facility in Daly, California, the company is now poised to become one of the largest and most efficient vertically integrated cannabis companies in the California market.

Read more: https://agoracom.com/ir/TranscannaHoldings/forums/discussion/topics/755740-california-grants-cannabis-cultivation-license-to-transcanna/messages/2304595#message

Harborside Inc. $HBOR $HBORF Announces Closing of Upsized Private Placement For Gross Proceeds of C$35,103,045 $VFF.ca $HARV.ca $ACB.ca

Posted by AGORACOM-Eric at 3:56 PM on Thursday, February 18th, 2021

Harborside Inc. (“Harborside”, or the “Company) (CSE: HBOR), (OTCQX: HBORF), a California-focused, vertically-integrated cannabis enterprise, is pleased to announce that it has closed its previously announced upsized brokered private placement of units of the Company at a price of C$2.55 per SVS Unit (as defined below) and C$255.00 per MVS Unit (as defined below) for aggregate gross proceeds of C$35,103,045 (the “Offering”). Beacon Securities Limited and ATB Capital Markets acted as co-lead agents in connection with the Offering (the “Agents”).

“We are very pleased with the strong investor interest and demand we received during our recent upsized offering,” said Peter Bilodeau, Interim CEO of Harborside. “With a strengthened balance sheet, Harborside is well positioned to further accelerate our growth as we enter 2021. We remain focused on continuing to build scale in the California market by optimizing and generating further efficiencies at our Salinas farm while continuing to provide best-in-class retail experiences and the high-quality cannabis products our customers in California have come to expect from Harborside.”

Each unit issued to non-residents of the United States (an “SVS Unit”) is comprised of one subordinate voting share of the Company (a “Subordinate Voting Share”) and one Subordinate Voting Share purchase warrant (a “Warrant”) of the Company. Each Warrant underlying an SVS Unit is exercisable to acquire one Subordinate Voting Share of the Company for a period of 36 months following closing of the Offering (the “Closing”) at an exercise price of C$3.69 per Subordinate Voting Share, subject to adjustment and acceleration in certain events. A total of 5,806,700 SVS Units were issued pursuant to the Offering.

All investors that are considered residents of the United States under the United States Securities Exchange Act of 1934 were issued units (each, an “MVS Unit”) comprised of multiple voting shares of the Company (the “Multiple Voting Shares”) and Multiple Voting Share purchase warrants of the Company, based on the same economic equivalency of each Multiple Voting Share converting into 100 Subordinate Voting Shares. The Multiple Voting Shares are intended to minimize the proportion of the outstanding voting securities of the Company that are held by residents of the United States for purposes of determining whether the Company is a “foreign private issuer”. The holders of Multiple Voting Shares are entitled to one vote in respect of each Subordinate Voting Share into which such Multiple Voting Share could be converted, and as such the Multiple Voting Shares do not necessarily hold voting rights that are superior to the holders of Subordinate Voting Shares, on an as converted to Subordinate Voting Shares basis.  A total of 79,592 MVS Units were issued pursuant to the Offering.

In consideration for their services, the Company paid the Agents a cash commission equal to C$1,451,340.75 and issued the Agents an aggregate of 569,154 broker warrants (“Broker Warrants”). Each Broker Warrant is exercisable to acquire, within 12 months from Closing, one SVS Unit at an exercise price of C$2.55 per SVS Unit.

Read More: https://agoracom.com/ir/HarborsideInc/forums/discussion/topics/755620-harborside-inc-announces-closing-of-upsized-private-placement-for-gross-proceeds-of-c-35-103-045/messages/2304273#message

Avicanna $AVCN.ca $AVCNF Enters Multi-level Strategic Partnership with Al Harrington’s, Harrington Wellness Inc., to Commercialize re+PLAY™ Branded Products in Canada $WEED.ca $CL.ca $HEXO.ca

Posted by AGORACOM-JC at 8:46 AM on Tuesday, February 9th, 2021
http://www.smallcapepicenter.com/Avicana%20square%20logo.jpg
  • Development and licensing of a bespoke and evidence-based athletic line of CBD topical products for the re+PLAY brand in the U.S.
  • Avicanna to lead commercialization in Canada through consumer retail and medical sales channels.

TORONTO, Feb. 09, 2021 — Avicanna Inc. (“ Avicanna ” or the “ Company “) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN), a biopharmaceutical company focused on the development, manufacturing and commercialization of plant-derived cannabinoid-based products, is pleased to announce that the Company has entered into an intellectual property licensing and royalty agreement with Harrington Wellness Inc. (“ Harrington Wellness” ) for the commercialization of a CBD topical product line targeting athletes and active consumers in Canada and the U.S. (the “ re+PLAY Agreement ”). 

Avicanna and Harrington Wellness have worked together extensively on researching, developing and optimizing a bespoke line of CBD-based topicals designed specifically for the athletic and sports community (the “ re+PLAY Products” ). These CBD-based topicals utilize Avicanna’s proprietary deep tissue technology for cannabinoid delivery and have been curated with the support of Harrington Wellness’ deep understanding of the needs of professional athletes. The products are planned to be launched in Q2 2021 in the United States by Harrington Wellness across retail and e-commerce channels and in Canada through medical and adult-use/consumer retail cannabis sales channels by Avicanna. The product formulations are also enrolled in several preclinical studies with leading Canadian medical institutions to assess their efficacy in chronic pain and osteoarthritis. 

Under the re+PLAY Agreement, which has an initial three-year term, Avicanna has licensed the use of certain proprietary product formulations to Harrington Wellness to be used in connection with the manufacture and distribution of the re+PLAY Products in the United States. Additionally, Harrington Wellness has also licensed the use of the re+PLAY brand to Avicanna to be used in connection with the manufacture and distribution of the re+PLAY Products in Canada. The re+PLAY Products will be branded and sold under the re+PLAY brand in both the United States and Canada. Royalties are payable to Avicanna and Harrington Wellness as consideration for each of the licenses. 

“As a former professional athlete myself and avid CBD user, I understand the importance of being in peak physical condition and finding products that help you to recover faster,” says Al Harrington, CEO of Harrington Wellness. “Avicanna has been an incredible partner in developing the re+PLAY formulas and expanding the product line’s availability into Canada.” 

In commenting on the re+PLAY Agreement, Aras Azadian, CEO of Avicanna said, “I am thrilled to finally introduce our relationship with Al Harrington and Harrington Wellness. This partnership was formed on the alignment of the vision to introduce premium and scientifically backed products for athletic and active consumers to the market. Additionally, the distinct expertise of the two companies and collaborative spirit has yielded an advanced and evidence-based line of products that are tailored to promote a healthy active lifestyle for the athlete in all of us.” 

To the knowledge of the Company, it is in compliance with all applicable laws in the jurisdictions in which it operates. 

About Harrington Wellness  

Founded in 2018 by Viola CEO and NBA Vet, Al Harrington, Harrington Wellness produces a wide range of products via in house manufacturing, joint venture projects and white label arrangements with other vetted organizations that stand for the highest quality and reliable medical benefits. These items are sold online via in house and existing marketplace sites, in brick and mortar retail and by health professions directly in their clinics. 

Harrington Wellness’ hero brand, re+PLAY™ is a performance based CBD wellness brand created with the combined knowledge and experience of athletes, doctors, and certified athletic trainers. Our team is dedicated to creating best in class products that deliver the powerful healing properties of the plant to our customers. All products are made using a triple-tested process with hemp grown in the USA, and are free of heavy metals, pesticides, and harmful microbes. 

Read More: https://agoracom.com/ir/Avicanna/forums/discussion/topics/754961-avicanna-enters-multi-level-strategic-partnership-with-al-harrington-s-harrington-wellness-inc-to-commercialize-re-play-branded-products-in-canada/messages/2302800#message

VIDEO – Harborside $HBORca $HBORF Expects 2020 Revenues of $61M – $63M, Company Poised to Dominate California Cannabis Market $VFF.to $HARV.ca $ACB.to

Posted by AGORACOM-JC at 4:20 PM on Thursday, February 4th, 2021

California is one of the largest cannabis markets in the world and Harborside has more than a decade of market success, making it one of the oldest and most respected retailers in California, commanding a 3% share of the entire market.  

  • Awarded one of the first six medical cannabis licenses in the USA 
  • Operations have generated over $400M in cumulative sales since inception 

For the full year ended 2020, the Company is expecting:

  • Gross revenues in line with previously issued guidance of approximately $61 – 63 million, and positive EBITDA
  • Standalone gross revenues of between $68 – $72 million full year ended 2021
  • Expects a 2021 full year of Adjusted EBITDA in the range of 15 – 17% of revenues 

Sit back, relax and watch this powerful interview.

TransCanna TCAN.ca Announces Binding Term Sheet for US$2 Million Secured Convertible Loan $VFF.ca $ACB.ca $CGC.ca $GTII.ca $TEQ.ca

Posted by AGORACOM-JC at 2:10 PM on Wednesday, February 3rd, 2021
tcan-square
  • Proceeds of the Convertible Loan are to be used exclusively for capital expenditures at the Company’s Daly Facility located in Modesto, California
  • Loan to Increase Production Capacity by 400% & Shift Company into a Cashflow Positive Status Once Daly Facility Opened

Vancouver, British Columbia–(February 3, 2021) – TransCanna Holdings Inc. (CSE: TCAN) (FSE: TH8) (“TransCanna” or the “Company“) is pleased to announce that it has entered into a binding term sheet (the “Term Sheet“) with Wild Horse Properties L.P. (the “Lender” or “Wild Horse“) for a secured convertible loan (the “Convertible Loan“) in the aggregate principal amount of US$2 million (the “Principal Amount.“).

The proceeds of the Convertible Loan are to be used exclusively for capital expenditures at the Company’s Daly Facility located in Modesto, California (the “Facility.“).

“We are excited to finally unlock the production capacity of the Daly Facility with this direct investment. We believe that scaling our cultivation capacity precipitates industrial level distribution, manufacturing and processing rewarding shareholders with significant revenue growth. We have been in the planning stage for several months,” stated Alan Applonie, Company General Manager, “and are very happy to have secured the necessary funding required to realize this vision.” A reminder to shareholders, Mr. Applonie comes from Taylor Farms an organic produce grower in the central valley where Alan was part of the original founding management team and responsible for annual gross revenues exceeding US$1 Billion.

The Facility build out consists of four phases; with receipt of the Company’s occupancy permit for Phase One, the Company will be shifting its distribution business from the Jerusalem property. Cultivation will continue at full capacity at the Jerusalem facility.

Read More: https://agoracom.com/ir/TranscannaHoldings/forums/discussion/topics/754587-transcanna-announces-binding-term-sheet-for-us-2-million-secured-convertible-loan/messages/2301895#message

VIDEO – Hollister $HOLL.ca $HSTRF Reported Record Q4 Revenues of CAD $14.93M From 370 Dispensaries In California and Arizona $CRON $GTBIF $INDS $META.ca $FAF.ca $WEED.ca

Posted by AGORACOM-JC at 7:42 PM on Sunday, January 31st, 2021
https://prnewswire2-a.akamaihd.net/p/1893751/sp/189375100/thumbnail/entry_id/1_dd2snc3b/def_height/400/def_width/400/version/100011/type/1

Hollister Biosciences (HOLL:CSE) is a multi-state operator with multiple, high-quality products that are now carried in over 280 dispensaries throughout California and over 90 dispensaries throughout Arizona.

Q4 Highlights:

  • Record quarterly revenue of CDN$14.93 million and CDN$2.53 million in EBITDA

Venom Extracts is their 100% owned subsidiary that is absolutely dominating the state of Arizona.  More than just lip service:

  • Since the closing (Venom), in the three quarters following, Venom contributed approximately CDN$38 million to the company’s 2020 revenue. 
  • In the entire year of 2020,
    • Venom generated greater than CDN$ 40 million in revenue (and CDN$ 4.9 million in adjusted EBITDA),
    • Up from CDN$ 16.4 million in 2019 a 144% year over year revenue increase, and ending the year with a record month of sales for December totaling approximately CDN$5.5 million .
  • Sold over 4 million grams of product in 2020
    • accounting for up to 30 percent of category sales statewide in Arizona .
  • Positioned for continued growth in Arizona with the recently passed adult-use legislation
  • Marijuana Business Daily projects that Arizona’s recreational market could generate up to $400 million in revenue its first year and more than $700 million by 2024.
  • ….. And it is run by the absolute coolest guy in small cap Cannabis – Jake Cohen  

Watch this interview or listen by Podcast on AppleGoogleSpotify or your favourite podcaster.

Avicanna $AVCN.ca $AVCNF Launches RHO Phyto™ Topical Gels in Canada and Initiates Clinical Studies $TRUL.ca $ACB

Posted by AGORACOM-JC at 7:59 AM on Thursday, January 28th, 2021
http://www.smallcapepicenter.com/Avicana%20square%20logo.jpg
  • RHO Phyto Deep Tissue Gels will be initially available on the Medical Cannabis by Shoppers Drug Mart™ online platform and expanded into specific consumer retail channels in February 2021.
  • Initiation of osteoarthritis preclinical trials in Canada in addition to the enrollment of the products into the UHN MC-RWE study to evaluate the effectiveness on pain, sleep, anxiety, and depression.

TORONTO, Jan. 28, 2021 — Avicanna Inc. (“ Avicanna ” or the “ Company “) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN), a biopharmaceutical company focused on the development, manufacturing and commercialization of plant-derived cannabinoid-based products is pleased to announce the launch of the RHO Phyto™ Deep Tissue Gels (the “ RHO Phyto Deep Tissue Gels ”) through Medical Cannabis by Shoppers Drug Mart as well as through additional adult use channels. The Company is also pleased to announce the initiation of pre-clinical osteoarthritis evaluations after successful in vitro studies and the enrollment of the Deep Tissue Gels in the Medical Cannabis Real World Evidence (“ MC-RWE ”) study. The MC-RWE study is led by the University Health Network (“ UHN ”) with the goal to evaluate the effectiveness of medical cannabis on pain, sleep and other related comorbidities.

About the RHO Phyto Deep Tissue Gels

The RHO Phyto Deep Tissue Gels synergistically combine natural clove oil and menthol with cannabinoids and natural polyphenols in advanced emulsions which are optimized for faster absorption and deeper delivery. The RHO Phyto Deep Tissue Gel formulations are also designed for long term cannabinoid shelf-life stability and accurate dosing with cooling sensation, and pleasant mint aroma. The deep tissue technology has been developed and optimized by Avicanna’s research and development team. Over the last 3 years, the RHO Phyto Deep Tissue Gel formulations have been validated by a series of preclinical studies where both stability and enhanced absorption into the deeper layers of the skin were shown.

Read More: https://agoracom.com/ir/Avicanna/forums/discussion/topics/754105-avicanna-launches-rho-phyto-topical-gels-in-canada-and-initiates-clinical-studies/messages/2300727#message

Hollister Biosciences Inc. $HOLL.ca $HSTRF Commends the State of Arizona for starting Adult-Use Cannabis Sales ahead of schedule, Venom Extracts it’s 100% owned subsidiary is a category leader with over 4 million grams sold throughout the state in 2020 $CRON $GTBIF $INDS $META.ca $FAF.ca $WEED.ca

Posted by AGORACOM-JC at 8:21 AM on Monday, January 25th, 2021
https://prnewswire2-a.akamaihd.net/p/1893751/sp/189375100/thumbnail/entry_id/1_dd2snc3b/def_height/400/def_width/400/version/100011/type/1
  • Branded Products now on sale in over 370 cannabis dispensaries in Arizona and California
  • 4 owned brands, and 3 brand collaborations
  • Over 4 million grams sold
  • Over 96,000 lbs. of cannabis biomass converted into finished products in Arizona
  • Total sales for 2020 increased 3233% from 2019 and are estimated to be approximately CDN $40 million
  • December 2020 sales totaled greater than CDN$6 million

VANCOUVER, BC , Jan. 25, 2021 – Hollister Biosciences Inc. (CSE: HOLL) (OTC: HSTRF) (FRANKFURT: HOB) (the ” Company “, “Hollister Cannabis Co .” or ” Hollister “) a diversified cannabis branding company with products in over 98 dispensaries throughout Arizona , is pleased to commend the state of Arizona for its efficient activation of adult-use cannabis sales. Legal sales of adult use cannabis in Arizona commenced mid-day on Friday January 22 nd , 2021, several months ahead of industry expectations, and the fastest that any of the 15 states with recreational marijuana has gone from voter approval to actual sales.

The company’s wholly owned subsidiary, Venom Extracts (” Venom “) product suite is a category leader with over 4 million grams sold in 2020, accounting for up to 30 percent of category sales state-wide. Venom is positioned for continued growth in Arizona , it has a strong brand recognition and distribution network, its products are available at leading retailers including Harvest Health and Recreation (CSE: HARV , OTCQX: HRVSF ), Curaleaf (CSE: CURA , OTCQX: CURLF ), Bloom, MuV and Oasis Cannabis dispensaries among others.

Arizona voted to legalize adult use cannabis in November, “Marijuana Business Daily projects that the state’s recreational market could generate up to $400 million in revenue its first year and more than $700 million by 2024”.

Read More: https://agoracom.com/ir/HollisterBiosciences/forums/discussion/topics/753842-hollister-biosciences-inc-commends-the-state-of-arizona-for-starting-adult-use-cannabis-sales-ahead-of-schedule-venom-extracts-it-s-100-owned/messages/2300014#message