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INTERVIEW: Supreme (SL:CSE) Discusses Construction Progress at 342,000 SQF. Medical Marijuana Production Facility

Posted by AGORACOM-JC at 8:22 PM on Tuesday, November 25th, 2014

Supreme Discusses Progress of 342K sqf. Medical Marijuana Production Facility

WATCH INTERVIEW NOW!

  • Significant progress made at its 342,000 square foot greenhouse facility located in Kincardine, Ontario
  • Moving quickly to implement its proposed plan to produce up to 24,000,000 grams of medical marijuana
  • Recently completed $1.7M financing
  • Received conditional pre-approval letter from Health Canada

Supreme is a Canadian-owned and operated company whose mission is to enhance the quality of life for their patients and clients by producing sun-grown medical marijuana of the highest standards, quality and value. The company’s vision is a client-centered, environmentally-friendly and affordable medical marijuana marketplace sustained by the marriage of commercial agriculture and traditional growing.

Hub On AGORACOM / Corporate Profile / Watch Interview!

Lexaria Develops Proprietary Cannabidiol Technology

Posted by AGORACOM-JC at 10:10 AM on Monday, November 24th, 2014

VANCOUVER, British Columbia, Nov. 24, 2014 (GLOBE NEWSWIRE) — A new study from Orrin Devinsky, MD, of the New York University School of Medicine, suggests that Cannabidiol (CBD) may radically reduce seizures in patients with epilepsy.

Dr. Devinsky administered cannabidiol to 23 patients with treatment-resistant epilepsy. Thirty-nine percent of the patients saw their seizure rates drop by more than 50%. Four patients (17%) had no seizures for the last month of treatment.

Lexaria (CSE:LXX) (OTCQB:LXRP) has acquired 51% of PoViva Corp, an innovative health company developing Cannabidiol (CBD)-infused products. Lexaria may increase its ownership position to 75% at a later date.

“Most CBD’s taste awful,” stated Lexaria CEO and Chairman Chris Bunka in an exclusive interview with Financial Press. “Marian Washington and Michelle Reillo – the two principals at PoViva – have developed patent-pending technology to bind CBD to a lipid. As well as enabling the body to process the CBDs more efficiently, this technology makes it taste much better.”

The first PoViva Tea by Lexaria will be a traditional black tea, which accounts for about 85% of all the tea consumed. Initially Lexaria will sell the CBD lipid-bound tea loosely – and then as the product line gets traction Bunka anticipates introducing flavored teas and tea bags.

In March, 2014 Lexaria entered into the medical marijuana market in Canada where it is legal federally. Its production license application is being reviewed by Health Canada.

“We continue to press for that license,” stated Bunka. “But we made an executive and board decision to build immediate value for the company pursuing opportunities in the hemp-based Cannabidiol (CBD) market – which does not require new licensing, laws or legislation.”

The Alternative Health sector is growing fast. A six year survey with 29,370 subjects monitored the adoption of “complementary and alternative medicine care professionals,” including “homeopathic, naturopathic, or herbalists.”

The study suggests that between 16.9 million and 18.5 million Americans are seeking an alternative health care professional at any given time.

“The US Department of Health has patented CBDs and claimed that they are beneficial in treating Parkinson’s, Alzheimer’s, Cancer, Cardio-vascular diseases and concussion,” stated Bunka. “An overwhelming body of research indicates that Cannabidiol has significant medicinal properties.”

Bunka sees Cannabidiol products as much more than a niche health market. There are many patients with Alzheimer’s and other diseases who don’t want to use marijuana.

Lexaria is planning to market its products to the 150 million daily tea drinkers in the United States. The market for CBDs is much larger than that of marijuana-users.

“We’re not changing focus, we’re sharpening it,” stated Bunka. “We are still in the same sector, but in a 100% legal part of it, which means we can produce foods that contain CBD and create short term cash flows for the company.”

Lexaria is in the process of launching a new e-commerce website and setting up a national distribution center, with 1-800 call ordering.

“Our marketing will include traditional media, direct marketing, and we also are building relationships with alternative health media outlets,” stated Bunka. “Some of these organizations have expressed interest in affiliate marketing campaigns so we are also exploring that.”

Bunka has a conservative approach to alternative medicine, including cannabis. The company has initiated a Responsible Marijuana Policy which states that Lexaria will not sell medical marijuana containing more than 0.3% THC to any medical marijuana patient under the age of 25.

Subsequent to Lexaria’s announcement, the College of Family Physicians of Canada created new guidelines that included the recommendation that medical marijuana in most cases would not be appropriate for patients under the age of 25.

Lexaria is currently investigating several popular food and drink sectors where its patent-pending lipid-binding Cannabidiol delivery system might prove effective. Lexaria has acquired a 3-year exclusive right to the patent-pending process to infuse CBD’s into all global markets outside of the USA.

The 2015 combined hot beverage markets of coffee and tea together, globally, is expected to be $69 Billion according to a report by Basu Majumder A., Bera B. and Rajan A.

According to the US Department of Health and Human Services Patent number 6,630,507, Cannabidiol is particularly advantageous to use because it avoids toxicity that is encountered with psychoactive cannabinoids at high doses.”

Lexaria continues to pursue the Health Canada MMPR Licensed Producer status by way of its joint venture in Burlington Ontario with Enertopia Corp. Meanwhile Bunka is focussed on producing cash flows from new initiatives; including the CBD-sectors (like epilepsy treatment) derived from already-legal hemp.

According to the Center for Disease Control and Prevention, Epilepsy affects about 2 million people in the United States and accounts for $15.5 billion in direct costs and indirect costs.

Lexaria is currently trading at .09 with a market capitalisation of $3.1 million.

Legal Disclaimer/Disclosure: A fee has been paid for the production and distribution of this Report. This document is not and should not be construed as an offer to sell or the solicitation of an offer to purchase or subscribe for any investment. No information in this article should be construed as individualized investment advice. A licensed financial advisor should be consulted prior to making any investment decision. Financial Press makes no guarantee, representation or warranty and accepts no responsibility or liability as to its accuracy or completeness. Expressions of opinion are those of the authors only and are subject to change without notice. Financial Press assumes no warranty, liability or guarantee for the current relevance, correctness or completeness of any information provided within this article and will not be held liable for the consequence of reliance upon any opinion or statement contained herein or any omission. Furthermore, we assume no liability for any direct or indirect loss or damage or, in particular, for lost profit, which you may incur as a result of the use and existence of the information, provided within this article.

Also, please note that republishing of this article in its entirety is permitted as long as attribution and a back link to FinancialPress.com are provided. Thank you.

CONTACT: Lexaria Corp.
         950 - 1130 West Pender Street Vancouver BC V6E 4A4
         p. 604 602 1675 f. 604 685 1602
         e. info@lexariaenergy.com
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INTERVIEW: QE2 Acquisition Corp. (QE: TSX-V) – Robust Growth Marks This Compelling Infrastructure Play

Posted by AGORACOM-JC at 9:51 AM on Monday, November 24th, 2014

QE: TSX-V

Robust Growth Marks This Compelling Infrastructure Play

Welcome to CEO Interviews a production of AGORACOM in which we speak to small cap CEOs and Executives about their companies.  With us today is Brent Buhler, VP Finance of QE2 Acquisition Corp.

  • Alberta-founded firm that acquires and grows well-managed, profitable, asset-backed, Alberta-based businesses in the infrastructure and utility service sectors.
  • More than just lip service, QE2 reported revenues of ~ $2.3M for the quarter ended July 31
  • Growth strategy is a mergers and acquisitions program which leverages the synergies that can be achieved by vertical and horizontal integration.

Hub On AGORACOM / Corporate Profile / Watch Interview Now!

Cannabis (MMJ) Goes Mainstream

Posted by AGORACOM-JC at 4:46 PM on Friday, November 21st, 2014

Vancouver, BC / November 24, 2014 / 3,500 well-dressed investors and entrepreneurs converged last week in Las Vegas in what was the marijuana industry’s biggest event to date by far – the 3rd annual Marijuana Business Conference and Expo.

It was a monumental event, bringing together some of the top agricultural companies in the country with experts in security, logistics, software, packaging, even Wall St. was there as well as several reported celebrity sightings. To say we have a very hot new sector in this country is an understatement.

Supreme Pharmaceuticals (SL-CSE) (SPRWF-OTC) is looking like a champion on this frontier, having built a high-tech pharmaceutical-grade greenhouse in Canada, ideally suited for cannabis cultivation on a large-scale.

“In May 2014 we purchased a 342,000 square foot agricultural greenhouse in Kincardine, Ontario,” stated Supremes’ Director of Operations in an exclusive interview with Financial Press, “since then we’ve deployed over $4 million dollars to convert it into a medical marijuana growing facility that exceeds the federal regulatory requirements.”

The speedy execution of the construction phase reflects the financial, entrepreneurial and operational mix of Supremes’ management team. The company has a solid track record in capital markets, logistics and the marijuana space.

In January, 2014 Supreme received a “Ready-to-Build” letter from the federal regulator indicating its proposal to produce up to 24,000 KG of medical marijuana per year met the regulatory requirements. The ready to build letter states that a producer’s license will be issued following a successful pre-licence inspection.

As the pre-license construction phase comes to a close, the company is now one step away from a green light to commercially produce medical marijuana. “Within the next few weeks we anticipate completing all of the pre-installed regulatory requirements” stated Fowler, “that means the security infrastructure, quality assurance and record keeping protocols are all in place – and we’re ready to put seeds in the ground and turn the lights on.”

Fowler describes the Kincardine greenhouse as the ideal facility to produce high quality, low cost medical marijuana, which will become one of Supremes’ cornerstone competitive advantages. In addition to the traditional cost-saving benefits of greenhouse agriculture, this greenhouse is uniquely suited to medical marijuana production. “The greenhouse is designed to be much shorter than a traditional agricultural greenhouse,” Fowler continued, “which is ideal for shorter plants like marijuana. This design means there are millions of cubic feet of air that we do not have to manage with our climate control systems. Reducing heating and cooling saves costs and boosts production efficiency.”

The size of the Kincardine facility gives Supreme a significant competitive advantage over other applicants. Health Canada’s regulatory guidance states that it intends to transform a sprawling cottage industry to a small number of scaled growing facilities. “Economies-of-scale have enabled us to make significant capital expenses with construction and quality control” said Fowler, “we’re doing premium installations that would not be practical for a 40,000 square foot facility.”

Supreme is also one of the first medical marijuana companies to take an agricultural approach to the production of medical marijuana. “This is an agricultural business first, which is why we are utilizing an agricultural facility and the latest technology for automated greenhouse agriculture” stated Fowler, “we have a large, secured, highly automated facility capable of providing a sustainable supply of a standardized medical product, something the medical community has told us is essential. One of the problems with smaller facilities is that they can run out of product, depending on the harvesting cycle. That can be a problem for patients who are only responsive to one strain. Supremes’ scale means that we can guarantee reliability and consistency in the supply chain.”

Fowler describes the biggest advantage Supreme gains from the greenhouse is the town of Kincardine itself. “The unforeseen benefit of this greenhouse facility in Kincardine had been the town itself,” stated Fowler, “We’ve got support from all levels of government, the local business community and the residents. Last Saturday we had a job fair, which was attended by over 600 locals, even though we only advertised twenty positions. That level of support is unprecedented in an industry where simply being left alone is a victory.”

Image: http://www.accesswire.com/images/322/Untitled.jpg

Fowler has been involved in the medical marijuana industry for over a decade. He’s likely the only businessman and corporate lawyer in Canada who also has extensive hands-on experience with the medical marijuana patient community and marketplace.

Fowler also intends to use his experience as a patient advocate to help Supreme attract patients who require medical marijuana to treat various ailments. “We are going to institute innovating pricing models,” stated Fowler, “designed to accommodate patients on a limited budget and mitigate the fact insurance providers do not yet cover medical marijuana.”

On November 17, 2014 Supreme closed a non-brokered private placement financing which, based on investor interest, was increased in size twice, generating $1.78 million in additional capital for the Company.

Supreme Pharmaceuticals is currently trading on the Canadian Securities Exchange at $.41 with a market cap of $31 million.

Financial Press Legal Disclaimer/Disclosure to go at end of each client article:

Legal Disclaimer/Disclosure: A fee has been paid for the production and distribution of this Report. This document is not and should not be construed as an offer to sell or the solicitation of an offer to purchase or subscribe for any investment. No information in this article should be construed as individualized investment advice. A licensed financial advisor should be consulted prior to making any investment decision. Financial Press makes no guarantee, representation or warranty and accepts no responsibility or liability as to its accuracy or completeness. Expressions of opinion are those of the authors only and are subject to change without notice. Financial Press assumes no warranty, liability or guarantee for the current relevance, correctness or completeness of any information provided within this article and will not be held liable for the consequence of reliance upon any opinion or statement contained herein or any omission. Furthermore, we assume no liability for any direct or indirect loss or damage or, in particular, for lost profit, which you may incur as a result of the use and existence of the information, provided within this article.

Also, please note that republishing of this article in its entirety is permitted as long as attribution and a back link to FinancialPress.com are provided. Thank you.

Contact Information

Investor Relations
430-580 Hornby Street, Vancouver BC
V6C 3B6 Phone: (604) 674-2191
Email:info@supreme.ca
Website: www.supreme.com

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Frank C. Smeenk, President and CEO of KWG Resources to be Featured on CTV Power Play This Evening

Posted by AGORACOM-JC at 2:46 PM on Friday, November 21st, 2014

TORONTO, ONTARIO–(Nov. 21, 2014) - KWG Resources Inc. (“KWG” or the “Corporation“) (TSX VENTURE:KWG)(FRANKFURT:KW6) is pleased to announce that Frank C. Smeenk, President and CEO of KWG Resources will be featured on CTV Power Play this evening between the hours of 5 and 6pm ET.

Don Martin hosts CTV News Channel’s daily marquee political program, POWER PLAY from Monday to Friday at 5 p.m. and 8 p.m. ET.

With a fresh look at politics, politicians and plays for power, this is the political show of record for Canadians. Martin cuts through the rhetoric and highlights the people and players that dominate the political scene in Canada. Online at CTV.ca/powerplay, viewers can catch episodes they’ve missed on the CTV Video Player.

Shares issued and outstanding: 777,842,468

KWG Resources Inc.
Bruce Hodgman
Vice-President
416-642-3575
info@kwgresources.com

 

Enertopia Provides Footage of Planned MMPR Facility

Posted by AGORACOM-JC at 9:59 AM on Thursday, November 20th, 2014

Whitefish, MT / November 20, 2014 / Thus far there has only been a handful of companies approved by Health Canada for the MMPR program, including Tweed Inc. (TSX-V: TWD) and Organigram Inc. (TSX-V: OGI), while a number of other companies, such as Abattis Bioceuticals (OTC: ATTBF) continue to await their approvals from Health Canada.

While many publicly traded companies have been talking up their plans of becoming licensed producers, few have been very open about showing off their actual facilities and demonstrating how operations will work. Outdoor images of large warehouses and pictures of land from a mile high provide investors with very little information about what’s actually happening in these companies.

Enertopia Corp. (OTC: ENRT) recently released a four part video series in conjunction with its joint venture with The Green Canvas Ltd. After signing a joint venture agreement in February of 2014, the company has begun building and outfitting a 30,000 square foot facility – scalable to 55,000 square feet – to become compliant with Health Canada’s MMPR standards.

The video tour of the planned facility includes everything from the initial clone rooms, perimeter security, vegetative grow areas, vaults, multiple staging areas for flowering, and the lights that will be used for production.

In the overall 4 part video series, Enertopia’s management team discusses its operational plans within Canada’s rapidly growing medical marijuana industry, while also interviewing current medical marijuana patients that have been treated with the utmost compassion by Green Canvas. The Green Canvas’ history as a licensed producer under the legacy Medical Marijuana Access Regulations (“MMAR”) program also provides them with the ability to show actual current growing operations.

It is the expertise of these current operations that deserves special notice. On November 8th, 2014 the invite only Karma Cup was held to determine the best flowering varieties of marijuana for the indica, sativa, and hybrid entrants. With more than 70 entrants, the Green Canvas was awarded first place in the sativa category for their Ambrosia strain. This year the Green Canvas was also awarded first place in the Sativa category at the Prairie Medicinal Harvest Cup for the 4th year in a row, achievements that the company is very proud of since the sativa strains typically take much longer to grow, and are often times more effective at treating the medical conditions of their patients.

As well, in September the Green Canvas joint venture announced that it submitted its application to become a licensed producer, and that they are in correspondence with Health Canada regarding specific quality assurance reports. Facility upgrades are ongoing and the construction progress can be seen in the aforementioned videos, highlighting just how close the company is to bringing the planned facility to fruition.

Tim Selenski is the head grower for the Green Canvas Ltd. grow team, and has worked with the Canadian government via their MMAR program for over 10 year time. Since its involvement in the MMAR program, Green Canvas has been widely covered in the Canadian media and has become a trusted source for medical marijuana patients.

Click For More Information:

– Company Website – http://www.enertopia.com/

– CannabisFN Profile Page – http://www.cannabisfn.com/mdc/enertopia-corp/

Legal Disclaimer:

Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, may be compensated for its services in the form of cash-based compensation or equity securities in the companies it writes about, or a combination of the two. For full disclosure please visit: http://www.cannabisfn.com/legal-disclaimer/.

Enertopia and Lexaria Launch Medical Advisory Board

Posted by AGORACOM-JC at 8:04 AM on Thursday, November 20th, 2014

Vancouver, BC / November 20 2014 / Enertopia Corporation (ENRT) on the OTCBB and (TOP) on the CSE (the “Company” or “Enertopia”) is pleased to announce that it and joint venture partner Lexaria Corp (LXRP) have launched a formal Medical Advisory Board to educate and advocate on behalf of all those who have medical needs that may be able to be met through the understanding and use of medical marijuana or through the use of cannabidiol (CBD) extracted from Industrial Hemp.

The Medical Advisory Board members specialize in various medical categories, and will work with health care professionals, patients, and prescribers of medical marijuana to promote greater understanding of medical marijuana and of CBD-enhanced products. There are believed by many to be a wide variety of medical conditions that might be affected in a positive way either by medical marijuana or by CBD’s, but in many cases the accuracy of claims may not be well understood at this time.

In particular, the use of high-cannabidiol strains that have little or no psychoactive effects on the patient, are of interest for use to treat many medical symptoms, according to existing studies and literature.

Recreational use of Marijuana is illegal in Canada, and illegal at the federal level in the United States because of the THC content; and this status has prevented and or greatly reduced the opportunity for peer-reviewed scientific study. Still, there is growing evidence that there could be real medical benefits somehow associated with either medical marijuana and/or the CBD’s within it. Despite the hurdles to conducting past research, there are 1,277 references today to Cannabidiol at research papers located at the US National Library of Medicine, National Institutes of Health website (www.pubmed.gov).

Many organizations are calling for additional research regarding medical marijuana. For instance the Arthritis Society in September announced it wants more research to study the impact of medical marijuana on pain, and that it is preparing to fund clinical studies. Jason McDougall, chair of the Arthritis Society’s scientific advisory committee and a pain researcher at Dalhousie University was quoted at that time saying, “I think it’s high time that we found something to help the 4.6-million Canadians living with arthritis and trying to do something to help”.

Enertopia hopes to announce its first meetings and/or conferences as soon as possible in this sector and the wellness sector in general as the company moves forward.

Robert McAllister, Enertopia Corporation., President & CEO said, “We are all witnessing today the emergence of grass roots movement where the patient finally comes first in all aspects of wellness.”

About Enertopia

Enertopia’s shares are quoted in Canada with symbol TOP and in the United States with symbol ENRT. For additional information, please visit www.enertopia.com or call

Clark Kent, Media Inquiries: (647) 519-2646

This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements which are not historical facts are forward-looking statements. The Company makes forward-looking public statements concerning the Advisory Medical Board. and any wellness opportunities and any positive impact on the Company, including statements that include words such as “anticipate,” “if,” “believe,” “plan,” “estimate,” “expect,” “intend,” “may,” “could,” “should,” “will,” and other similar expressions that are forward-looking statements. Such forward-looking statements are estimates reflecting the Company’s best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements., foreign exchange and other financial markets; changes of the interest rates on borrowings; hedging activities; changes in commodity prices; changes in the investments and exploration expenditure levels; litigation; legislation; environmental, judicial, regulatory, political and competitive developments in areas in which Enertopia Corporation operates. The reader should refer to the risk disclosures set out in the periodic reports and other disclosure documents filed by Enertopia Corporation from time to time with regulatory authorities.

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release

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Lexaria Launches Medical Advisory Board

Posted by AGORACOM-JC at 7:58 AM on Thursday, November 20th, 2014

 

KELOWNA, BC / November 20, 2014 / Lexaria Corp. (OTCQB: LXRP) (CSE: LXX) (the “Company” or “Lexaria”) is pleased to announce that it and joint venture partner Enertopia Corp (ENRT) have launched a formal Medical Advisory Board to educate and advocate on behalf of all those who have medical needs that may be able to be met through the understanding and use of medical marijuana or through the use of cannabidiol (CBD) extracted from Agricultural Hemp.

The Medical Advisor Board members specialize in various medical categories, and will work with health care professionals, patients, and prescribers of medical marijuana to promote greater understanding of medical marijuana and of CBD-enhanced products. There are believed by many to be a wide variety of medical conditions that might be positively affected either by medical marijuana or by CBD’s, but in many cases the accuracy of claims may not be well understood at this time.

In particular, the use of high-cannabidiol strains that have little or no psychoactive effects on the patient, are of interest for to alleviate many medical symptoms, according to existing studies and literature. Lexaria has already voluntarily established its own Canadian corporate policy of being unwilling to sell medical marijuana with more than 0.3% THC content to anyone under the age of 25, in line with much of the Canadian medical community.

Recreational use of Marijuana is illegal in Canada, and illegal at the federal level in the United States because of the THC content; this status has prevented or greatly reduced the opportunity for peer-reviewed scientific study. Still, there is growing evidence that there could be real medical benefits associated with either medical marijuana and/or the CBD’s within it. Despite the hurdles to conducting past research, there are 1,277 references today to Cannabidiol at research papers located at the US National Library of Medicine, National Institutes of Health website (www.pubmed.gov).

Many organizations are calling for additional research regarding medical marijuana. For instance the Arthritis Society in September announced it wants more research to study the impact of medical marijuana on pain, and that it is preparing to fund clinical studies. Jason McDougall, chair of the Arthritis Society’s scientific advisory committee and a pain researcher at Dalhousie University was quoted at that time saying, “I think it’s high time that we found something to help the 4.6-million Canadians living with arthritis and trying to do something to help.”

Lexaria hopes to announce its first meetings and/or conferences as soon as possible.

About Lexaria

Lexaria’s shares are quoted in the USA with symbol LXRP and in Canada with symbol LXX. The company searches for opportunities that could provide potential above-market returns.

To learn more about Lexaria Corp. visit www.lexariaenergy.com.

FOR FURTHER INFORMATION PLEASE CONTACT:

Lexaria Corp.
Chris Bunka
Chairman & CEO
(250) 765-6424

FORWARD-LOOKING STATEMENTS

This release includes forward-looking statements. Statements which are not historical facts are forward-looking statements. The Company makes forward-looking public statements concerning its expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including statements that include words such as “anticipate,” “if,” “believe,” “plan,” “estimate,” “expect,” “intend,” “may,” “could,” “should,” “will,” and other similar expressions are forward-looking statements. Such forward-looking statements are estimates reflecting the Company’s best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. Access to capital, or lack thereof, is a major risk and there is no assurance that the Company will be able to raise required working capital. Current oil and gas production rates may not be sustainable and targeted production rates may not occur. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company’s public announcements and filings. There is no assurance that the medical marijuana or alternative health businesses will provide any benefit to Lexaria. There is no assurance that any cannabidiol-based product will be accepted into the marketplace or have any positive impact upon Lexaria Corp. There is no assurance that and cannabidiol-based product will promote, assist, or maintain any beneficial human health conditions whatsoever.

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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INTERVIEW: Virtutone Networks Discusses Second Quarter Net Revenues of $43M

Posted by AGORACOM-JC at 1:13 PM on Tuesday, November 18th, 2014

Highlights

  • Net revenues reached $43,216,403 for the second quarter of 2014, an increase of $34,555,976 or 399 %
  • Leading supplier of wholesale telecommunication services, serving as an intermediary between large carriers and local telephone companies in many countries worldwide.
  • Built lasting and secure business relationships with a number of key strategic partners.

Hub on AGORACOM / Corporate Profile / Watch Interview

Mega projects to catapult Oman’s tourism industry

Posted by AGORACOM-JC at 12:41 PM on Tuesday, November 18th, 2014
November 17, 2014
Muscat – Oman is pushing to boost the tourism sector in the country like never before with a host of measures. This is accompanied by a strong will to develop the necessary infrastructure.

Key policy changes include developing a 30-year tourism strategy that will align the sector’s role with plans for the national economy. The strategy focuses on short-, medium- and long-term strategies and is based on four major pillars, including tourism competitiveness, marketing and product development, governance, education and socio-economic development.

Work on the Oman National Tourism Strategy has already started with the Ministry of Tourism (MoT) awarding a contract earlier this year to a Spanish firm, THR Innovative Tourism Advisors, which is currently conducting a series of workshops all over the sultanate.

Another focus area has been the huge potential of transit passengers.

The national carrier, Oman Air, expects incoming passenger numbers to reach 4.8mn this year. Of these, only 800,000 will be flying to and from Oman, and the airline is looking to attract the remaining 4mn transit passengers for a stopover.

For this, ROP has agreed to issue 72-hour, on-arrival visas to transit passengers from all countries except Bangladesh and Afghanistan. An electronic visa disbursal system will also be introduced in a couple of months that will ease procedural delays.

Tourism in the country has been on a consistent growth path and is poised to witness spectacular development in the coming years to be one of the largest contributors to the economy.

According to the World Travel and Tourism Council (WTTC), the travel and tourism industry in Oman supported 37,000 jobs directly in 2013 and this is forecast to grow by 11.4 per cent in 2014 to 41,000. This is the fastest growth in the Middle East region and among the strongest worldwide.

By 2024, travel and tourism will account for 60,000 direct jobs, an increase of 3.9 per cent per annum over the next ten years.

In line with the nation’s objective to diversify its economy, the Ministry of Tourism actively promotes Oman across the globe boosting the nation’s tourism revenues and targeting the sector’s ten per cent contribution to national gross domestic product (GDP) by 2020.

According to WTTC, total contribution of travel and tourism to Oman’s GDP was RO2.08bn, or 6.4 per cent, in 2013 and is expected to lead the Middle East in terms of growth, rising by 9.4 per cent to RO2.27bn in 2014. The total contribution to GDP is forecast to rise by 5.5 per cent per annum to RO3.88bn (8.2 per cent of GDP) by 2024.

Key indicators such as hospitality and air-traffic data also point towards significant growth achieved this year.

In the first half of 2014, the total number of guests staying at four- and five- star hotels in the sultanate witnessed an increase of 20.7 per cent reaching 368,764. And occupancy rates rose to 64.6 per cent as of the end of June 2014 from 61.3 per cent recorded during the same period in 2013. Total revenues of four- and five- star hotels grew by 8.7 per cent during the same period rising to RO86.3mn. Hotel room capacity is forecast to expand at an annual rate of 5.3 per cent in the next three to four years.

Meanwhile, international passenger arrivals at the Muscat International Airport were up by 6.7 per cent to 2mn passengers in the first six months of the year, compared with the same period last year. Salalah too witnessed a surge of around 75 per cent to cross 50,000 international passenger arrivals during the six months compared to the same period last year.

The government’s increasing thrust on tourism continues as it is takes various steps to further develop the sector.

Omran, the ministry’s investment arm, issued tenders worth RO78mn last year towards the Oman Convention and Exhibition Centre, energy centre, and a parking area in addition to the Traveller’s Oasis project in Salalah worth RO1mn.

Omran is also planning 12 new projects which are under study, including water parks, developing Omani castles and forts and eco-tourism resorts in order to attract and accommodate the rising tourist numbers.

The ministry, along with Omran, is working with Paradores Consultancy, an arm of Spain’s prominent luxury hotel chain Paradores de Turismo de España – which runs 94 hotels set in palaces, fortresses and historical buildings – to transform some of the select group of forts and castles dotting Oman’s landscape into luxury heritage hotel properties.

In addition, Omran earlier this month signed a pact to develop 1.85mn sq m for the eco-themed Ras al Hadd tourism project in South Sharqiyah at a cost of RO250mn. The three-phase project will see construction of an eco-themed resort, hotel and residential villas, a souq, a dedicated centre for wildlife preservation, observation park and a new market area.

Omran and its joint venture partner Muriya are developing at least 18 hotels, which will add over 4,200 rooms in the next four years across the country.

Another mega project, which has been in the works for long, was kick-started in October with a development agreement contract signed between US-based Omagine Inc and the Oman government.

The much-awaited US$2.5bn mixed-use tourism and real-estate project known as the ‘Omagine Project’ will be 60 per cent owned by Omagine Inc’s subsidiary Omagine LLC, and the rest by the office of Royal Court Affairs (RCA) of the sultanate, which will own 25 per cent, and two subsidiaries of Consolidated Contractors International Co (CCIC), which collectively own 15 per cent.

The ‘Omagine Project’ is planned to integrate cultural, entertainment and residential components, including hotels, commercial buildings, retail establishments and more than 2,000 residences to be developed for sale. The project will be developed on 1mn sq m of beachfront land in Seeb.

Read more: http://www.muscatdaily.com/Archive/Oman/Mega-projects-to-catapult-Oman-s-tourism-industry-3loj#ixzz3JQttH2D4