Posted by AGORACOM-JC
at 5:34 PM on Wednesday, July 15th, 2020
SPONSOR: Esports Entertainment Group(GMBL:NASDAQ) Millions of people from around the world tune in to watch teams of video game players compete with each other. In first quarter 2020, YouTube reported 1.1 billion hours watched, an increase of 13% when compared to fourth quarter 2019. Wagering on Esports is projected to hit $23 BILLION this year although that number will likely be eclipsed due to the recent pandemic. Esports Entertainment Group is designed for the purpose of facilitating as much of this wagering as possible. LEARN MORE.
VaynerSports Continues Its Expansion With Gaming Division
Gary Vaynerchuk, “I have been quietly paying attention to the gaming industry for over a decade, building relationships and following the trends. One of the most exciting things about it, for me, is the gamers themselves. And when I look at the culture, the interest in the sector from other athletes, artists, celebrities – it is enormous. This is a very significant expansion for VaynerSports.”
The Vaynerchuk duo of AJ and Gary have been in the news of late as their athletic talent agency, VaynerSports, most recently announced an expansion into the world of baseball.
Now, VaynerSports has spawned VaynerGaming, the agency’s first foray into the world of esports and gaming personalities.
According to the eSports Observer, VaynerGaming will be led by veteran marketing agent Darren Glover. Glover was most recently the CEO of Wombo Sports, a media and entertainment agency focused on gaming and the e-sports culture.
VaynerGaming will also be led by AJ Vaynerchuk and Mike Neligan who both run VaynerSports.
As it relates to the elder Vaynerchuk, Gary, this is not his first venture into the world of e-sports and gaming. Vaynerchuk is an investor in the Minnesota RØKKR – a team in the Call of Duty League.
Says Gary Vaynerchuk, “I have been quietly paying attention to the gaming industry for over a decade, building relationships and following the trends. One of the most exciting things about it, for me, is the gamers themselves. And when I look at the culture, the interest in the sector from other athletes, artists, celebrities – it is enormous. This is a very significant expansion for VaynerSports.”
To that end, VaynerGaming already has its first client in the 2019 Esports Gamer of the Year, Kyle “Bugha” Giersdorf. Bugha boasts over 1.1M unique followers on Twitter and roughly 2.98M subscribers on YouTube at just 17 years old.
Although Bugha has made his brand in Fortnite, it is apparent that VaynerGaming will be a serious player and foundational leader in this space that is sure to create a path to representation for other gamers.
Posted by AGORACOM-JC
at 8:10 AM on Wednesday, July 15th, 2020
Rho Phyto portfolio contains a full formulary of products including oil drops, sublingual sprays, capsules, and topicals that have controlled dosing, enhanced absorption and stability studies supported by pre-clinical data which will be available exclusively on the Medical Cannabis by Shoppers™ online portal by the end of July 2020.
First-of-its-kind Canadian study is led by Dr. Hance Clarke, Director of Pain Services at Toronto General Hospital, and will examine the efficacy of a select group of medical cannabis products including Avicanna’s Rho Phyto line of products on patient reported outcomes of pain, sleep and anxiety.
This specific study is aligned and in parallel with Avicanna’s comprehensive clinical program of other real-world evidence studies involving the Rho Phyto products and clinical trials on its pharmaceutical pipeline with world-class, Toronto-based medical institutions.
TORONTO, July 15, 2020 – 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 its Rho Phyto™ product line of advanced medical cannabis products will be the subject of a Medical Cannabis Real-World Evidence study (“MC-RWE Study“) led by Dr. Hance Clarke of the University Health Network (“UHN“) in Toronto, Canada. The Rho Phyto products were developed in accordance with the recent Health Canada Cannabis 2.0 regulations that allow for more advanced, higher quality, medical cannabis product offerings. These products have been tested for prolonged stability, enhanced absorption, controlled delivery and other properties, in collaboration with Dr. Christine Allen’s research group at the Leslie Dan Faculty of Pharmacy, University of Toronto.
The Rho Phyto medical cannabis product line is a full formulary that includes sublingual sprays, oil drops, capsules, and topicals of various cannabinoid ratios, namely THC and CBD. By offering a variety of delivery systems, the medical community has the possibility to select the appropriate Rho Phyto product to suit a range of medical conditions such as pain relief, which may require either a fast onset of action or prolonged duration of effect over the course of treatment. The products are manufactured under good manufacturing practice (“GMP“) in partnership with MediPharm Labs Inc. to ensure batch-to-batch consistency and high-quality products. The manufacture of the Rho Phyto products in accordance with GMP standard allows for data derived from this MC-RWE Study to provide early insights into Avicanna’s ongoing and future directions of pharmaceutical development. Avicanna remains committed to patient safety and product consistency which is why all products subject to the MC-RWE Study are tested by Sigma Analytical and tracked by TruTrace Blockchain Technologies.
Dr. Justin Grant, Avicanna’s Executive Vice President of Scientific Affairs commented, “After 3 years of collaborating with world-class Toronto-based researchers and clinicians including those at the University of Toronto and UHN, we are excited to offer the most consistent formulary of advanced medical cannabis products to prescribers and principal investigators, including Dr. Clarke, to further demonstrate the potential therapeutic efficacy of cannabinoids.”
Avicanna’s Rho Phyto products will be exclusively available to patients through the Medical Cannabis by Shoppers online portal in addition to UHN clinicians through the MC-RWE Study by the end of July 2020. Additionally, Avicanna and Medical Cannabis by Shoppers are co-hosting a medical symposium in line with the launch of the Rho Phyto product line entitled, “MEDICAL CANNABIS 2.0: Advancements in Cannabinoid Research, Product Offerings and Patient Access“. The symposium will be held on a virtual platform on July 21, 2020 and will include Dr Clarke’s presentation “Real World Evidence and The Future of Medical Cannabis / Cannabinoid medicine for Pain Management” that will provide further insights on the MC-RWE Study. For registration and more information please visit (https://www.avicanna.com/symposium/).
About Avicanna Inc.
Avicanna is an Ontario, Canada based corporation focused on the development, manufacturing, and commercialization of plant-derived cannabinoid-based products through its two main business segments, cultivation and research and development.
Avicanna’s two majority-owned subsidiaries, Sativa Nativa S.A.S. and Santa Marta Golden Hemp S.A.S., both located in Santa Marta, Colombia are the base for Avicanna’s cultivation activities. These two companies are licensed to cultivate and process cannabis for the production of cannabis extracts and purified cannabinoids including cannabidiol (CBD) and tetrahydrocannabinol (THC).
Avicanna’s research and development business is primarily conducted out of Canada at its headquarters in the Johnson & Johnson Innovation Centre, JLABS @ Toronto. Avicanna’s scientific team develops products, and Avicanna has also engaged the services of researchers at the Leslie Dan Faculty of Pharmacy at the University of Toronto for the purpose of optimizing and improving upon its products.
Avicanna’s research and development and cultivation activities are focused on the development of its key products, including plant-derived cannabinoid pharmaceuticals, phyto-therapeutics, derma-cosmetics, and Extracts (defined as plant-derived cannabinoid extracts and purified cannabinoids, including distillates and isolates), with a goal of eventually having these products manufactured and distributed through various markets.
Stay Connected
For more information about Avicanna, visit www.avicanna.com, call 1-647-243-5283, or contact Setu Purohit, President by email [email protected].
Cautionary Note Regarding Forward-Looking Information and Statements
This news release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information contained in this press release may be identified by the use of words such as, “may”, “would”, “could”, “will”, “likely”, “expect”, “anticipate”, “believe, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook” and other similar expressions, and includes statements with respect to the Rho Phyto products benefiting patients managing a range of medical conditions, the data derived from the MC-RWE Study providing the Company with early insights into Avicanna’s ongoing and future directions of pharmaceutical development, and the Rho Phyto products being available to patients through the Medical Cannabis by Shoppers online portal and UHN clinicians by end of July 2020. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors relevant in the circumstances, including assumptions in respect of current and future market conditions, the current and future regulatory environment; and the availability of licenses, approvals and permits.
Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information. Such risks and uncertainties include, but are not limited to current and future market conditions, including the market price of the common shares of the Company, and the risk factors set out in the Company’s annual information form dated April 15, 2020, filed with the Canadian securities regulators and available under the Company’s profile on SEDAR at www.sedar.com.
The statements in this press release are made as of the date of this release. The Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
SOURCE Avicanna Inc.
Tags: cannabinoids, CSE, Marijuana, Medical Cannabis by Shoppers, Rho Phyto, stocks, tsx, tsx-v Posted in Avicanna Inc., Featured | Comments Off on Avicanna $AVCN.ca Announces Participation in a Medical #Cannabis Real-World Evidence Research Study Led by the University Health Network in Partnership with Medical Cannabis by #Shoppers™ using its Rho Phyto™ Advanced Medical Cannabis Formulary of Products
Posted by AGORACOM-JC
at 10:43 PM on Tuesday, July 14th, 2020
Q1 2020 results reflect the following highlights:
Revenues of $718,908, a decrease from $736,443 posted in Q1 2019,
Gross margin of 37% an increase of 25% over the same period in Q1 2019,
Cash on hand on March 31, 2020 was $1,139,416 (December 31, 2019: $34,431),
Backlog of signed contracts as of the date of this writing is $30MM.
MONTREAL, July 14, 2020 — PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX-V: PYR) (OTCQB: PYRNF) (FRA: 8PY), a high-tech company, (the “Company”, the “Corporation” or “PyroGenesis”) that designs, develops, manufactures and commercializes plasma atomized metal powder, plasma waste-to-energy systems and plasma torch systems, is pleased to announce today its financial and operational results for the first quarter ended March 31st, 2020.
“Percent complete revenue recognition in our major projects, which is the revenue recognition method we are mandated to follow by GAAP, is such that it is not linear, but exponential, and as such Q1 2020 may not have reflected the results one might have expected given recent announcements. However, using this same revenue recognition method we can safely provide the following guidance for Q2 2020, and for the year ending December 31st, 2020 as follows: We expect that Q2 2020 and the six months ending June 30, 2020 will be profitable as will year end results. As such, management has modified several notes in the financials, for the first time since inception, to reflect this outlook,” said P. Peter Pascali, CEO and President of PyroGenesis. “To date, in 2020 we have not only received significant payments under existing contracts, but have retired the $3MM convertible debenture in full, bought back approximately 1.2 million shares, increased our investment in HPQ, and further benefited from early conversions of warrants maturing in 2021 of over $3MM. Of note, as of December 31st, 2019 we have approximately $10MM of in-the-money warrants and options expiring in 2020 and 2021 alone. The Company also has over $50MM in tax loss carryforwards (roughly evenly distributed between federal and provincial tax regimes) which is not reflected as an asset on the balance sheet. Given recent events, and the structuring that took place in 2019, the Company is undeniably well positioned to execute on, and build upon, the backlog of signed contracts which currently stands in excess of $30MM. With the eagerly anticipated US Navy contract in hand backlog of signed contracts will be in excess of $40MM. All in all, 2020 can now be described as the year that we have been expecting for some time.”
Q1 2020 results reflect the following highlights:
Revenues of $718,908, a decrease from $736,443 posted in Q1 2019,
Gross margin of 37% an increase of 25% over the same period in Q1 2019,
Cash on hand on March 31, 2020 was $1,139,416 (December 31, 2019: $34,431),
Backlog of signed contracts as of the date of this writing is $30MM.
Management Guidance for Q2 2020
Revenues of $2-2.25MM are expected in Q2 2020,
Management expects that Q2 2020 and the six months ending June 30, 2020 will be profitable.
Management Guidance for the remainder of 2020:
Overall, Management expects significant revenue growth in 2020,
Management expects that the year ending December 31st, 2020 will also be profitable.
OUTLOOK
Percent complete revenue recognition in our major projects, which is the revenue recognition method we are mandated to follow by GAAP, is such that it is not linear, but exponential, and as such Q1 may not have reflected the results one might have expected given recent announcements. However, using this same revenue recognition method we can safely provide guidance for Q2 2020, and for the year ending December 31st, 2020: We expect that Q2 and the six months ending June 30, 2020 will be profitable as will year end results. As such, management has modified several notes in the financials, for the first time since inception, to reflect this outlook.
Any discussion regarding the OUTLOOK of the company would be remiss if it did not address the continued increase in the Company’s market capitalization and the implications that has for the future.
Without a doubt the Company’s market capitalization suffered, as did many other companies, in the general Covid-19 market meltdown at the end of March 2020. However, PyroGenesis soon broke from the pack with the issuance of a material press release on March 24th, 2020.
Management believes that its breaking from the ranks caught the attention of investors, fund managers, and money managers who all now had the time during the Covid-19 lockdown to fully analyze the complicated story that is PyroGenesis. Management does not see any reason why this interest would abate anytime soon. To the contrary, Management has reason to believe that interest in the Company will only increase over the foreseeable future. As such, Management has decided that several strategies that have been articulated in the past (up listings, spinoffs) can now be accelerated as many of the impediments to moving quickly have been removed and have taken steps to do so.
Having a larger market capitalization has also helped in discussions with potential customers who take comfort from the possibility that a higher market capitalization may translate into easier access to capital. For the record, there is no intention at this time to raise capital for working capital purposes.
If 2018 was the year in which PyroGenesis successfully positioned each of its commercial business lines by strategically partnering with multi-billion-dollar entities, and 2019 was the year that saw the appropriate personnel and infrastructure being put in place while building upon the success of 2018, then 2020 is without a doubt the year that the long awaited breakout, which began in the second half of 2019, takes place; it is in fact already upon us:
To date during 2020 PyroGenesis has:
received significant payments under the $22MM contract with DROSRITE™ International thereby validating announcements made during 2019,
established a relationship with a US based tunneling company (contracts and payments ongoing),
Established itself in the iron ore pelletization industry as a potential supplier of torches geared to replacing existing burners and thereby reducing GHGs. Interest is also spilling over into other industries with GHG reduction targets,
Established a relationship with an OEM in North America with the intent to eventually supply powders for their 3D printing needs. This augments our relationship with Aubert & Duval, while at the same time de-risking our dependence on them,
retired the $3MM convertible debenture in full,
bought back approximately 1.2 Million shares under the existing Normal Course Issuer Bid,
increased Company’s investment in HPQ, who has subsequently also experienced a significant increase in market capitalization,
further benefited from early conversions of warrants maturing in 2021 of over $3MM.
The Company has booked a significant backlog of signed contracts (in excess of $30MM; 2019 Revenues approx. $5MM) which, when taking the eagerly awaited US Navy contract into account, will increase to over $40MM. This provides a solid cornerstone upon which PyroGenesis can:
continue to build on the recent successes with the Company’s DROSRITE™ offering
Leverage off of the recent successes with the Company’s torch offerings to (i) the iron ore pelletization industry, and (ii) a tunneling client.
Accelerate activities with Aubert & Duval in the Additive Manufacturing sector as well as HPQ in the Mining and Metallurgical sector, both of which did not progress as fast as management would have liked in 2019. Significant attention will be placed on both these activities in 2020.
Specifically, with Aubert & Duval the goal will be to complete the integration of the cutting-edge advances PyroGenesis has made to the powder production process.
With respect to HPQ, the goal would be to accelerate the game changing PUREVAP™ family of processes which we are developing for HPQ, namely:
The PUREVAP™ “Quartz Reduction Reactors” (QRR), an innovative process (patent pending), which will permit the one step transformation of quartz (SiO2) into high purity silicon (Si) at reduced costs, energy input, and carbon footprint that will propagate its considerable renewable energy potential; and
The PUREVAP™ Nano Silicon Reactor (NSiR), a new proprietary process that use PUREVAPTM QRR silicon (Si) as feedstock, to make spherical silicon nanopowders and nanowires;
As at April 1st, 2020, the Company has approximately $10MM of in-the-money warrants and options expiring in 2020 and 2021. The Company also has over $50MM in tax loss carryforwards (roughly evenly distributed between federal and provincial obligations) which is not reflected as an asset on the balance sheet.
All in all, 2020 can now be described as the year that we have been expecting for some time.
Financial Summary
Revenues
PyroGenesis recorded revenue of $718,908 in the first quarter of 2020 (“Q1, 2020”), representing a decrease of 2% compared with $736,443 recorded in the first quarter of 2019 (“Q1, 2019”).
Revenues recorded in the first quarter of 2020 were generated primarily from:
DROSRITE™ related sales of $474,432 (2019 Q1 – $58,559)
PUREVAP™ related sales of $17,965 (2019 Q1 – $94,077)
torch related sales of $87,944 (2019 Q1 – $139,813)
support services related to PAWDS-Marine systems supplied to the US Navy $23,896 (2019 Q1 – $210,667)
Cost of Sales and Services and Gross Margins
Cost of sales and services before amortization of intangible assets was $444,681 in Q1 2020, representing a decrease of 30% compared with $639,506 in Q1 2019, primarily due to lower employee compensation and direct materials in Q1 2020.
In Q1 2020, employee compensation, subcontracting, direct materials and manufacturing overhead decreased to $391,305 (Q1 2019 – $662,379). The gross margin for Q1 2020 was $267,414 or 37.2% of revenue compared to a gross margin of $92,158 or 12.5% of revenue for Q1 2019. As a result of the type of contracts being executed, the nature of the project activity, as well as the composition of the cost of sales and services, as the mix between labor, materials and subcontracts may be significantly different. Of note, the Company received an amount of $127,842 from Revenue Canada under the CWES program. From this amount, $26,388 was applied to employee compensation under cost of sales and services.
Investment tax credits recorded against cost of sales are related to projects that qualify for tax credits from the provincial government of Quebec. Qualifying tax credits decreased to $20,630 in Q1 2020, compared with $36,071 in Q1 2019. This represents a decrease of 43% year-over-year. In total, the Company earned refundable investment tax credits of $70,313 in Q1 2020. The Company continues to make investments in research and development projects involving strategic partners and government bodies.
The amortization of intangible assets of $6,813 in Q1 2020 and $4,779 for Q1 2019 relates to patents and deferred development costs. Of note, these expenses are non-cash items and will be amortized over the duration of the patent lives.
Selling, General and Administrative Expenses
Included within Selling, General and Administrative expenses (“SG&A”) are costs associated with corporate administration, business development, project proposals, operations administration, investor relations and employee training.
SG&A expenses for Q1 2020 excluding the costs associated with share-based compensation (a non-cash item in which options vest principally over a four-year period), were $1,205,726 representing a decrease of 7% compared with $1,295,521 reported for Q1 2019.
The increase in SG&A expenses in Q1 2020 over the same period in 2019 is mainly attributable to the net effect of:
an increase of 11% in employee compensation due primarily to additional head count, off set by the government aid received from Revenue Canada under the CEWS program,
a decrease of 67% for professional fees, primarily due to a decrease in accounting fees,
an increase of 23% in office and general expenses, is due to an increase in insurance and computer software expenses,
travel costs decreased by 45%, due to a decrease in travel abroad,
depreciation on property and equipment decreased by 79% due to lower amounts of property and equipment being depreciated,
depreciation on right of use assets decreased by 19% due to lower amounts of right of use assets being depreciated,
Investment tax credits increased by 1% due to an increase in qualifying projects,
government grants decreased by 43% due to lower levels of activities supported by such grants,
other expenses decreased by 7%, primarily due to a decrease in cost of freight and shipping.
Separately, share based payments increased by 106% in Q1 2020 over the same period in 2019 as a result of the vesting structure of the stock option plan including the stock options granted on January 2nd, 2020.
Research and Development (“R&D”) Costs
The Company incurred $23,088 of R&D costs, net of government grants, on internal projects in Q1 2020, a decrease of 76% as compared with $95,774 in Q1 2019. The decrease in Q1 2020 is primarily related to an increase in government grants recognized.
In addition to internally funded R&D projects, the Company also incurred R&D expenditures during the execution of client funded projects. These expenses are eligible for Scientific Research and Experimental Development (“SR&ED”) tax credits. SR&ED tax credits on client funded projects are applied against cost of sales and services (see “Cost of Sales” above).
Net Finance Costs
Finance costs for Q1 2020 totaled $232,736 as compared with $251,498 for Q1 2019, representing a decrease of 7% year-over-year. The decrease in finance costs in Q1 2020, is primarily attributable to interest on lower amounts of debt.
Strategic Investments
Three months ended Mar 31,
% Change
2020
2019
2020vs2019
Changes to the fair value of strategic investments
$
492,024
$
(706,196)
170%
The adjustment to the fair market value of strategic investments for Q1 2020 resulted in a loss of $492,024 compared to a gain in the amount of $706,196 in Q1 2019.
Net Comprehensive Loss
The net comprehensive loss for Q1 2020 of $1,757,027 compared to a loss of $878,923, in Q1 2019, represents an increase of 100% year-over-year. The increased loss of $878,104 in the comprehensive loss in Q1 2020 is primarily attributable to the factors described above, which have been summarized as follows:
a decrease in product and service-related revenue of $17,535 arising in Q1 2020,
a decrease in cost of sales and services totaling $192,791, primarily due to a decrease in employee compensation, subcontracting, direct materials, manufacturing overhead & other, and an increase in foreign exchange, investment tax credits, and amortization of intangible assets,
a decrease in SG&A expenses of $53,412 arising in Q1 2020 primarily due to a decrease in professional fees, in travel, in depreciation on property and equipment, in depreciation ROU assets, and in other expenses and an increase in employee compensation, in office and general, in government grants and in share based payments,
a decrease in R&D expenses of $72,685 primarily due to an increase in government grants,
a decrease in net finance costs of $18,762 in Q1 2020 primarily due to interest on lower amounts of debt,
a decrease in fair value adjustment of strategic investments of $1,198,220 in Q1 2020.
EBITDA
The EBITDA loss in Q1 2020 was $1,418,057 compared with an EBITDA loss of $464,825 for Q1 2019, representing an increase of 205% year-over-year. The $953,232 increase in the EBITDA loss in Q1 2020 compared with Q1 2019 is due to the increase in comprehensive loss of $878,104, offset by a decrease in depreciation on property and equipment of $38,093, a decrease in depreciation of right of use assets of $20,307, an increase in amortization of intangible assets of $2,034 and a decrease in finance charges of $18,762.
Adjusted EBITDA loss in Q1 2020 was $1,347,190 compared with an Adjusted EBITDA loss of $430,341 for Q1 2019. The increase of $916,849 in the Adjusted EBITDA loss in Q1 2020 is attributable to an increase in EBITDA loss of $953,232, offset by an increase of $36,383 in share-based payments.
The Modified EBITDA loss in Q1 2020 was $855,166 compared with a Modified EBITDA loss of $1,136,537 for Q1 2019, representing a decrease of 25%. The decrease in the Modified EBITDA loss in Q1 2020 is attributable to the increase as mentioned above in the Adjusted EBITDA of $916,849 and a decrease in the change of fair value of strategic investments of $1,198,222.
Liquidity
The Company has incurred, in the last several years, operating losses and negative cash flows from operations, resulting in an accumulated deficit of $61,994,683 and a negative working capital of $11,157,110 as at Q1 2020, (December 31, 2019 – $60,237,656 and $10,492,102 respectively). Furthermore, as at Q1 2020, the Company’s current liabilities and expected level of expenses for the next twelve months exceed cash on hand of $1,139,416 (December 31, 2019 – $34,431). The Company has relied upon external financings to fund its operations in the past, primarily through the issuance of equity, debt, and convertible debentures, as well as from investment tax credits.
Separately, PyroGenesis is pleased to announce today that Me Sara-Catherine Tolszczuk has joined the Company as Legal Counsel and Corporate Secretary of the Board of Directors effective July 2nd, 2020. Before joining PyroGenesis, Me Tolszczuk was part of the corporate law group of the leading independent law firm in the province of Québec. Her work was focused on developing strategies for the protection, commercialization and enforcement of intellectual property assets. She also acquired experience in litigation files and participated in the due diligence phase of mergers and acquisitions. She holds a Bachelor’s Degree in Law and a Master’s Degree in Biology. The Company also announces the departure, effective July 2nd, 2020, of Me Ilario Gualtieri. We thank Me Gualtieri for his contributions and wish his well in his future endeavors.
About PyroGenesis Canada Inc.
PyroGenesis Canada Inc., a high-tech company, is the world leader in the design, development, manufacture and commercialization of advanced plasma processes and products. We provide engineering and manufacturing expertise, cutting-edge contract research, as well as turnkey process equipment packages to the defense, metallurgical, mining, advanced materials (including 3D printing), oil & gas, and environmental industries. With a team of experienced engineers, scientists and technicians working out of our Montreal office and our 3,800 m2 manufacturing facility, PyroGenesis maintains its competitive advantage by remaining at the forefront of technology development and commercialization. Our core competencies allow PyroGenesis to lead the way in providing innovative plasma torches, plasma waste processes, high-temperature metallurgical processes, and engineering services to the global marketplace. Our operations are ISO 9001:2015 and AS9100D certified, and have been since 1997. PyroGenesis is a publicly-traded Canadian Corporation on the TSX Venture Exchange (Ticker Symbol: PYR) and on the OTCQB Marketplace. For more information, please visit www.pyrogenesis.com.
This press release contains certain forward-looking statements, including, without limitation, statements containing the words “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “in the process” and other similar expressions which constitute “forward- looking information” within the meaning of applicable securities laws. Forward-looking statements reflect the Corporation’s current expectation and assumptions and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. These forward-looking statements involve risks and uncertainties including, but not limited to, our expectations regarding the acceptance of our products by the market, our strategy to develop new products and enhance the capabilities of existing products, our strategy with respect to research and development, the impact of competitive products and pricing, new product development, and uncertainties related to the regulatory approval process. Such statements reflect the current views of the Corporation with respect to future events and are subject to certain risks and uncertainties and other risks detailed from time-to-time in the Corporation’s ongoing filings with the securities regulatory authorities, which filings can be found at www.sedar.com, or at www.otcmarkets.com. Actual results, events, and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements. The Corporation undertakes no obligation to publicly update or revise any forward- looking statements either as a result of new information, future events or otherwise, except as required by applicable securities laws.
Neither the TSX Venture Exchange, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the OTCQB accepts responsibility for the adequacy or accuracy of this press release.
SOURCE PyroGenesis Canada Inc.
For further information please contact: Rodayna Kafal, Vice President Investors Relations and Strategic Business Development Phone: (514) 937-0002, E-mail: [email protected]
Posted by AGORACOM-JC
at 8:05 PM on Tuesday, July 14th, 2020
Generated record quarterly revenue of CDN$ 11.5 million,
CDN$ 1.375 million in EBITDA
Bureau of Cannabis Control officially renewed its cannabis distribution license for the next year through August 2021
VANCOUVER, BC, July 14, 2020 – 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 230 dispensaries throughout California, and over 80 dispensaries throughout Arizona, is pleased to provide an update on its Q2, 2020 performance as well as announce that the Bureau of Cannabis Control (“BCC“) officially renewed its cannabis distribution license for the next year through August 2021.
Q2 2020 Update
For the period beginning April 1st, 2020 and ending June 30th, 2020, Hollister reports that it generated record quarterly revenue of CDN$ 11.5 million and CDN$ 1.375 million in EBITDA from its product line of pre-rolls, concentrates, distillates, solvent-free bubble hash, pre-packaged flower, tinctures and vape products. The Company cautions that revenue and EBITDA figures have not yet been audited and are based on reports prepared by management.
“We are very pleased with our revenue growth year to date. Sales of cannabis related products have proven to be resilient throughout the COVID-19 pandemic. We hope to continue to deliver strong results as the year progresses” stated Carl Saling, CEO.
About the BCC
The Bureau of Cannabis Control is the lead agency in regulating commercial cannabis licenses for medical and adult-use cannabis in California. The BCC is responsible for licensing retailers, distributors, testing laboratories, microbusinesses, and temporary cannabis events. A distributor (Type 11) licensee is responsible for transporting cannabis goods between licensees, arranging for testing of cannabis goods, and conducting the quality assurance review of cannabis goods to ensure compliance with all packaging and labeling requirements. A licensed distributor may only distribute cannabis goods, cannabis accessories, and licensees’ branded merchandise or promotional materials.
“Our distribution license is a critical component to our California operation, and we are honored to have had our license renewed by the BCC” stated Carl Saling, CEO.
About Hollister Biosciences Inc.
Hollister Biosciences Inc. is a multi-state cannabis company with a vision to be the sought-after premium brand portfolio of innovative, high-quality cannabis & hemp products. Hollister uses a high margin model, controlling the whole process from manufacture to sales to distribution or seed to shelf. Products from Hollister Biosciences Inc. include HashBone, the brand’s premier artisanal hash-infused pre-roll, along with concentrates (shatter, budder, crumble), distillates, solvent-free bubble hash, pre-packaged flower, pre-rolls, tinctures, vape products, and full-spectrum high CBD pet tinctures. Hollister Cannabis Co. additionally offers white-labeling manufacturing of cannabis products. Our wholly-owned California subsidiary Hollister Cannabis Co is the 1st state and locally licensed cannabis company in the city of Hollister, CA birthplace of the “American Biker”.
The CSE, nor its regulation services provider, does not accept responsibility for the adequacy or accuracy of this release.
Forward-Looking Information: This news release includes certain statements that may be deemed “forward-looking statements”. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “would”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this News Release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company’s disclosure documents which can be found under the Company’s profile on www.sedar.com
Tags: Cannabis, CBD, CSE, Hemp, small cap, tsx Posted in Featured, Hollister Biosciences | Comments Off on Hollister Biosciences $HOLL.ca Provides Update on Q2 2020, Generated Record Quarterly Revenue of CDN$ 11.5 Million and Announces Distribution License Renewal $WEED.ca $CGC $ACB $APH $CRON.ca $OGI.ca $FAF.ca
Posted by AGORACOM-JC
at 9:51 AM on Tuesday, July 14th, 2020
SPONSOR: Imagine AR Inc. (IP:CSE) (IPNFF:OTCQB) is an Augmented Reality platform that allows businesses to easily launch AR campaigns. Clients Include: NBA Sacramento Kings, Mall of America, AT&T Shape and The Basketball Hall of Fame. The company recently announced partnership with Engaged Nation, an award winning leader in digital engagement marketing for casinos in addition to a collaboration with Music Superstar Flo Rida Learn More.
Augmented reality heads-up displays for cars are finally a real thing
When Audi briefed Ars on its newest electric car, the part that most piqued our interest was the news that the Q4 e-tron Sportback will feature an augmented reality heads-up display. As we explained in that article, Audi didn’t feel like elaborating much on the new technology. Perhaps it wishes it had, as it’s going to be beaten to the punch by its deadly rival Mercedes-Benz. When the 2021 S-Class debuts in September, the brand’s flagship sedan will offer an AR HUD, among other tech upgrades.
The automaker has even been forthcoming with some technical info on this latest driver assist. It uses a digital mirror device from Texas Instruments—perhaps no surprise given that TI has been developing automotive AR tech for a while now. The DMD has a resolution of 1.3 megapixels (or megamirrors, to be strictly accurate) and projects onto a 10˚ horizontal, 5˚ vertical aperture HUD, with the image appearing 33 feet (10m) away. (Mercedes-Benz says it’s the equivalent of a 77-inch monitor.)
Unfortunately, Mercedes-Benz hasn’t shared any still images of the AR HUD in action, and there were only a few seconds of video in the b-roll that the company provided. But the automaker did helpfully tweet out a longer video this morning, which we’ve embedded below, as it really is the best way to see how the system works. (If the embedded tweet isn’t showing up for you, you can view it here.)
As you can see, it fuses various sensor inputs from the vehicle like the forward-looking radar as well as optical sensors to alert or inform the driver. That information could be the distance to a car you’re following, or markers delineating the edge of the road in low-light situations, or navigation help via directional arrows that work a bit like the optimal racing line overlay in games like Forza.
I’ll admit it: I’m excited that this tech is finally making its way into production and I’m eager to try it out, although some in the automotive UX world are not entirely convinced that a limited field-of-view HUD is the right way to implement this idea versus a full AR windshield.
Tags: AR, augmented reality, CSE, small cap, stocks, tsx, tsx-v Posted in Featured, Imagine AR | Comments Off on Augmented reality #AR heads-up displays for cars are finally a real thing – SPONSOR: Imagine AR $IP.ca $IPNFF $SEV.ca $VST.ca $YDX.ca $NTAR.ca
Posted by AGORACOM-JC
at 9:13 AM on Tuesday, July 14th, 2020
Later this summer Liquid Avatar platform (www.liquidavatar.com), will begin to offer users a new type of Avatar experience through the Liquid Avatar Marketplace
Liquid Avatar users will be able to acquire custom-designed and limited availability icons from leading professional pop culture, comic book, fantasy, manga, and contemporary Artists complete with an innovative digital authentication solution that has been traditionally managed as an on-site, personnel and location-based process
TORONTO, ON / July 14, 2020/KABN Systems NA Holdings Corp. (CSE:KABN) (the “Company” or “KABN” or “KABN North America“), a Canadian Fintech company that specializes in continuous online identity verification, management and monetization in Canada and the US, is pleased to announce that later this summer its Liquid Avatar platform (www.liquidavatar.com), will begin to offer users with a new type of Avatar experience through the Liquid Avatar Marketplace (“Marketplace”). Liquid Avatar users will be able to acquire custom-designed and limited availability icons from leading professional pop culture, comic book, fantasy, manga, and contemporary Artists complete with an innovative digital authentication solution that has been traditionally managed as an on-site, personnel and location-based process.
All Liquid Avatars acquired from the Marketplace will be supported with a unique Digital Certificate of Authenticity, allowing each custom icon to have its own Blockchain identifier that can be transferred from one user to another. This methodology created by the KABN Network and supported by Blockchain technologies, will allow users to buy, sell and trade custom avatars and record the transfer and ownership of these collectible icons. The Marketplace will charge a fee for the issuance, recording, and management of the Digital Certificate of Authenticity and the transfer of ownership of digitized assets.
“The creation and distribution of Digital Certificates of Authenticity featuring unique Blockchain technologies for custom Liquid Avatars is a key business strategy for KABN North America,” said RJ Reiser, Chief Business Development Officer. “Like hockey, baseball and basketball cards, other sports, comic books, movie props, and signed memorabilia, we believe that digitized assets will represent a viable way for online audiences to be part of the growing collector community.”
In addition, as part of the Liquid Avatar Creator Program, icons can be designed to represent different “skins” for a user’s verified persona, like a school, gaming, family, friends, and business/work profile. Recently, Liquid Avatar, in partnership with the NCFA (www.ncfacanada.org), released a custom event icon for FFCON20 – Rise (https://www.accesswire.com/viewarticle.aspx?id=596745). This process allows users, businesses, events, associations, and other groups to create unique icons for their verified online groups and share content and offers with known users.
The Liquid Avatar Marketplace has over 20 professional creators on board already and 10 engaged in the creation process. In addition to a growing list of free Liquid Avatars, the Marketplace will have the ability to showcase a catalog of approved custom avatars for sale. Additional items like t-Shirts, hoodies, and other items featuring certain Liquid Avatars will be available for sale. KABN North America will be presenting Liquid Avatar with Apex Comic Group at this year’s virtual Comic-con International @home program on Saturday, July 25, 2020 at 5 pm Pacific / 8 pm Eastern – https://comiccon2020.sched.com/event/d4zK/apex-comics-publishing-group-2020-2021-exclusive-previews
“Liquid Avatar custom icons represent a potentially significant opportunity to create revenue for KABN North America,” said Ben Kessler, CEO. “Anyone who knows a Fortnite player or other gamer knows that players are always looking to acquire the latest cosmetic enhancement and along with sports, comic book, movie and fantasy collectors, we believe we are targeting the right audience for our custom and collectible Liquid Avatars.”
KABN Systems NA Holdings Corp. through its wholly-owned subsidiary KABN Systems North America Inc. focuses on the verification, management and monetization of digital identity, empowering users to control and benefit from its use of their online identity. KABN propriety technology suite includes 4 key products:
KABN ID is an Always On, biometric and blockchain based digital identity validation and verification platform allowing users to continuously and confidently prove themselves throughout the online community.
Liquid Avatar allows users to create high-quality digital icons representing their online personas. These icons, in conjunction with KABN ID, allows users to use Liquid Avatars to share public and permission-based private data when they want and with whom they want. www.liquidavatar.com
KABN Card is a Visa approved prepaid card program allowing users to manage both digital and fiat currencies, and earn cashback and other loyalty incentives. www.kabncard.com
KABN KASH is a cashback, loyalty and engagement program that powers the KABN revenue ecosystem.
KABN provides its products and services at no cost to consumers and generates revenues through permission-based partner programs. www.kabnkash.com
KABN Systems NA Holdings Corp. is publicly traded on the Canadian Securities Exchange under the symbol: KABN
Ben Kessler Chief Executive Officer 647-725-7742 Ext. 700 [email protected]
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities under the KABN Financing in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Forward-Looking Information and Statements
This press release contains certain “forward-looking information” within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company’s control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”. The forward-looking information and forward-looking statements contained herein may include, but is not limited to, information concerning the ability of the Company to generate revenues, roll out new programs and to successfully achieve business objectives, and expectations for other economic, business, and/or competitive factors.
By identifying such information and statements in this manner, the Company is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such information and statements. In addition, in connection with the forward-looking information and forward-looking statements contained in this press release, the Company has made certain assumptions. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information and statements are the following: changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws; compliance with extensive government regulation. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.
Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to the Company or persons acting on its behalf is expressly qualified in its entirety by this notice.
Posted by AGORACOM-JC
at 7:07 AM on Monday, July 13th, 2020
Announced that as part of its pathway to commercialization in the U.S. market, it has completed and signed broker agreements with two reputable, natural food retail brokers, and is close to signing with a third broker
The food brokers’ network spans Southern California, Arizona and Nevada, Northern California and the Northwest States, and the North East (including New York City)
Customers in the U.S. and Canada will soon be able to pre-order the full-sized Else Nutrition Plant-Based Complete Nutrition for Toddlers on the Else e-store at: www.elsenutrition.com.
VANCOUVER, BC, July 13, 2020 – ELSE NUTRITION HOLDINGS INC. (TSXV: BABY) (OTCQB: BABYF) (FSE: 0YL) (“Else” or the “Company”), is pleased to announce that as part of its pathway to commercialization in the U.S. market, it has completed and signed broker agreements with two (2) reputable, natural food retail brokers, and is close to signing with a third broker. The food brokers’ network spans Southern California, Arizona and Nevada, Northern California and the Northwest States, and the North East (including New York City).
“These key broker agreements will significantly accelerate our push to get our product on the shelves of U.S. Natural Food chains. This marks major step towards bringing our clean, plant-based nutrition for toddlers to market, and making it accessible to parents and children at their local retail outlets. We have experienced significant in-bound positive feedback from the launch of our sample packets and we are excited to get the product into the hands of more consumers,” said Ms. Hamutal Yitzhak, CEO and Co-Founder of Else.
Customers in the U.S. and Canada will soon be able to pre-order the full-sized Else Nutrition Plant-Based Complete Nutrition for Toddlers on the Else e-store at: www.elsenutrition.com.
About Else Nutrition Holdings Inc.
Else Nutrition GH Ltd. is an Israel-based food and nutrition company focused on developing innovative, clean and plant-based food and nutrition products for infants, toddlers, children, and adults. Its revolutionary, plant-based, non-soy, formula is a clean-ingredient alternative to dairy-based formula. Else Nutrition (formerly INDI) won the “2017 Best Health and Diet Solutions” award at the Global Food Innovation Summit in Milan. The holding company, Else Nutrition Holdings Inc, is a publicly-traded company, listed as TSX Venture Exchange under the trading symbol BABY and is quoted on the US OTC Markets QB board under the trading symbol BABYF and on the Frankfurt Exchange under the symbol 0YL. Else’s Executive and Advisory Board includes leaders hailing from Abbott Nutrition, Mead Johnson, Boston Children’s Hospital, ESPGHAN (European Society for Pediatric Gastroenterology, Hepatology and Nutrition). Plum Organics, Tel Aviv University’s Sackler Faculty of Medicine, and Gastroenterology & Nutrition Institute of RAMBAM Medical Center.
For more information, visit: elsenutrition.com or @elsenutrition on Facebook and Instagram.
TSX Venture Exchange
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Caution Regarding Forward-Looking Statements
This press release contains statements that may constitute “forward-looking statements” within the meaning of applicable securities legislation. Forward-looking statements are typically identified by words such as “will” or similar expressions. Forward-looking statements in this press release include statements with respect to the anticipated dates for filing the Company’s financial disclosure documents. Such forward-looking statements reflect current estimates, beliefs and assumptions, which are based on management’s perception of current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. No assurance can be given that the foregoing will prove to be correct. Forward-looking statements made in this press release assume, among othersForward-looking statements made in this press release assume, among others, the timing of the Company’s toddler nutrition product launch and the availability of the Company’s product online. Actual results may differ from the estimates, beliefs and assumptions expressed or implied in the forward-looking statements. Readers are cautioned not to place undue reliance on any forward-looking statements, which reflect management’s expectations only as of the date of this press release. The Company disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Posted by AGORACOM-JC
at 8:12 PM on Sunday, July 12th, 2020
TransCanna Holdings (TCAN:CSE) is part of the New Cannabis Kids On The Block wave that investors are demanding after mega financed companies flopped last year. TCAN, on the other hand, is delivering the following to investors:
· $2M CAD Revenue April 2020
· $24.6M CAD Revenue Run Rate solely from TransCanna test facility
· $90M Annual Revenue expected from first full year upon completion of 196,000 Sq Ft Daly facility Q3 2021
· Daly facility will be one of the largest cannabis facilities in California
And today the story got even better, with TCAN announcing that its wholly-owned subsidiary was granted a “Type 11 Distributor License” by the California Bureau of Cannabis Control for its 196,000 square foot Daly Avenue Facility.
HUGE BUSINESS IMPLICATIONS – TRANSCANNA POSITIONED TO BECOME PART OF NEW LEADERSHIP GROUP IN CANNABIS
As a result, Trancanna now owns the largest known, fully licensed cannabis facility in California. Given the fact TCAN is processing more than $USD 1,000,000/month in wholesale cannabis transactions out of a distribution space of just 1,000 square feet, the implications for Daly expanding to 196,000 square feet are HUGE in the areas of:
Capacity
Revenue
Reach
…. much more
The first round of cannabis leaders disappointed investors and created significant value destruction in the space. But like every new mega industry that goes through a catharsis stage, the next round of growth gives birth to the best and potentially biggest players for the long haul.
The next 24 – 36 months are going to be fun for TCAN. How fun? Watch this interview with CEO Bob Blink.
Posted by AGORACOM-JC
at 7:49 PM on Sunday, July 12th, 2020
Successfully granted a Type 11 ‘Distributor’ license by the California Bureau of Cannabis Control for its 196,000 square foot Daly Avenue Facility
Now owns largest known fully licensed cannabis facilities in California
“This is the most exciting development in our history and what everyone has been working towards,” says Bob Blink, TransCanna CEO
Vancouver, British Columbia–(July 11, 2020) – TransCanna Holdings Inc. (CSE: TCAN) (FSE: XETR) (“TransCanna” or the “Company”) is pleased to announce that its wholly-owned subsidiary, Lyfted Farms, Inc. (“Lyfted”), was successfully granted a Type 11 ‘Distributor’ license by the California Bureau of Cannabis Control for its 196,000 square foot Daly Avenue Facility.
This long-anticipated milestone marks the completion of all state and local licenses required for the Company to begin operations at its flagship cannabis processing facility in Modesto, California.
This state-wide license represents Lyfted’s most major milestone to date in meeting the distribution and production capabilities needed to meet the escalating demand for its products in the world’s largest cannabis market. The license was granted after three levels of approvals were achieved at the county and state level and will allow for the commencement of packaging, transport, wholesale, pre-roll assembly, labeling, testing, contract packaging (white-labeling), and of course distribution of cannabis products to all licensed retailers across the state.
“This is the most exciting development in our history and what everyone has been working towards,” says Bob Blink, TransCanna CEO. “Being granted a license at the state level is a long, costly, and complex process, and one that requires navigating and understanding a complex regulatory process. It’s a significant barrier to entry for most companies, so this marks a huge turning point for us. We are delighted to have achieved our biggest goal to date and excited to be able to better serve the demands of the California cannabis market.”
The Company is currently completing upgrades to the flagship Daly Facility. Commercial cannabis activities are expected to commence at Daly August 2020, via the deployment of a 16,000 square foot cannabis distribution center (Phase 1). To date, Lyfted has been able to process in excess of $1M USD/month in wholesale cannabis transactions out of a distribution space of 1,000 square feet from its Jerusalem Court facility. These upgrades will mean the Company now has 16,000 square feet of distribution space at its disposal as of August 2020.
“This exponential increase in capacity is incredibly exciting for investors,” says Blink, adding the Company has been focused on building out its wholesale and distribution business while awaiting its final license. “Having processed a million dollars’ worth of product out of a single one-thousand square foot facility, we are anticipating significant growth now that our 196,000 square foot operation is online.”
Lyfted anticipates hiring up to 250 full-time employees at the flagship site with a strong focus placed on social equity and a diverse workforce that is reflective of the communities it serves and operates in.
About TransCanna Holdings Inc.
TransCanna Holdings Inc. is a California based, Canadian listed company building cannabis-focused brands for the California lifestyle, through its wholly-owned California subsidiaries.
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.
Posted by AGORACOM-JC
at 7:16 AM on Wednesday, July 8th, 2020
Announced the receipt of more than $1,500,000 from the exercise of warrants
Proceeds from this latest round of warrant exercises provides ImagineAR with the financial resources necessary to fund growth and operations for a minimum of 12 months, assuming the Company wasn’t able to generate any further revenue from business operations.
VANCOUVER, BC and ERIE Pa., July 8, 2020 – Imagine AR Inc. (CSE: IP) (OTC: IPNFF) (“ImagineAR” or “Company”) an Augmented Reality Company that enables sports teams, businesses, retailers and organizations to instantly create their own AR mobile campaigns, is pleased to announce the receipt of more than $1,500,000 from the exercise of warrants.
WARRANT PROCEEDS PROVIDE GROWTH CAPITAL FOR 12 MONTHS AND BEYOND
The proceeds from this latest round of warrant exercises provides ImagineAR with the financial resources necessary to fund growth and operations for a minimum of 12 months, assuming the Company wasn’t able to generate any further revenue from business operations.
However, as the Company expects to anticipate meaningful revenue from its current and anticipated sales pipeline over the next 12 months, as well as, receive additional proceeds from further anticipated warrant exercises, the Company is confident it now has the war chest necessary to pursue all anticipated business opportunities as the demand for its Augmented Reality solutions continues to grow on a weekly basis.
FINANCING PROCEEDS IN 2020 TOTAL APPROXIMATELY $3,000,000
“Today’s announcement significantly bolsters our financial strength and resources necessary to execute our business plan without any further fundraising required at this time.” said Alen Paul Silverrstieen President & CEO of Imagine AR Inc. “Taking into account the $1.5 million raised by way of oversubscribed convertible debenture on February 26, the continued support and confidence of our valued shareholders is deeply appreciated as we aggressively pursue our growth strategy to become the leading augmented reality platform in 2020 and beyond. “
About ImagineAR
ImagineAR Inc. (CSE: IP) (OTC: IPNFF) is an augmented reality (AR) platform, ImagineAR.com, that enables businesses of any size to create and implement their own AR campaigns with no programming or technology experience. Every organization, from professional sports franchises to small retailers, can develop interactive AR campaigns that blend the real and digital worlds. Customers simply point their mobile device at logos, signs, buildings, products, landmarks and more to instantly engage videos, information, advertisements, coupons, 3D holograms and any interactive content all hosted in the cloud and managed using a menu-driven portal. Integrated real-time analytics means that all customer interaction is tracked and measured in real-time. The AR Enterprise platform supports both IOS and Android mobile devices and upcoming wearable technologies. The AR Platform is available as an SDK Plug-in for existing mobile apps.
This News Release is available on the company’s CEO Verified Discussion Forum, a moderated social media platform that enables civilized discussion and Q&A between Management and Shareholders.
All trademarks of the property of respective owners.
We encourage you to do your own due diligence and ask your broker if Imagine AR Inc. (cse: IP) is suitable for your particular investment portfolio*.
The Canadian Securities Exchange has neither approved nor disapproved the contents of this press release. This press release may include ‘forward-looking information’ within the meaning of Canadian securities legislation, concerning the business of the Company. The forward looking information is based on certain key expectations and assumptions made by Imagine AR management. Although Imagine AR believes that the expectations and assumptions on which such forward- looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Imagine AR can give no assurance that it will prove to be correct. These forward-looking statements are made as of the date of this press release, and Imagine AR disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
Tags: AR, augmented reality, CSE, small cap, stocks, tsx Posted in Imagine AR | Comments Off on ImagineAR $IP.ca Receives Over $1,500,000 From Exercise of Warrants To Fund Augmented Reality Growth & Operations For Next 12 Months $SEV.ca $VST.ca $YDX.ca $NTAR.ca
