Posted by AGORACOM-JC
at 4:55 PM on Thursday, November 12th, 2020
When the Facebook data privacy scandal broke out, the world woke up to just how badly our individual data was being traded, used and most importantly, the amount of profit being generated by major corporations at our expense.
This led to the enactment of the biggest data privacy laws in history. Specifically, General Data Protection Regulation (GDPR) out of Europe and the California Consumer Privacy Act (CCPA).
Enter KABN. The Company Turns The Problem Of Data Privacy Into A Profit For Individuals, While Providing Big Businesses With New & Compliant Business Models.
More than just lip service, KABN announced joining the Trust Over IP Foundation, which includes over 170 members including IBM, Mastercard, Accenture and many other global leaders who are defining a complete architecture for Internet-scale digital trust. As part of this community, KABN is focused on bridging the gap between traditional fintech services and solutions and new and innovative Verified Credential processes. Does that sound like a mouthful? Yeah, it does. But all you have to really understand for now is that digital ID, privacy and monetization is going to become a reality in the very near future. Government regulations are enforcing it. Consumers are demanding it and KABN is delivering it at such an advanced scale that the Trust Over IP Foundation has provided them with a strategic role as a Steering Member to help drive the following mission:
“I am certain KABN will make a strong contribution to the Trust over IP Foundation.” said John Jordan, executive director, BC Digital Trust Service and executive director of ToIP. “People and businesses are going to continue using the internet to build relationships and complete transactions digitally with all the risks of security breaches and fraud that go along with it today. It’s time for a change. Global leaders are working together at our Foundation to make it possible for people to be known and to build trusted relationships online. I am happy to have KABN be part of this effort.”
KABN was so ahead of this curve they were actually too early to the game … now the game is underway with KABN sitting in a great field position. Watch this interview with President David Lucatch and welcome to the next potential great disruptive industry of the decade.
Posted by AGORACOM-JC
at 4:38 PM on Thursday, November 12th, 2020
Announced that it has filed and has been receipted for a preliminary short form prospectus with the securities commissions in Alberta , British Columbia , Manitoba , Ontario and Saskatchewan in connection with a marketed public offering of units of the Company
Each Unit will consist of one common share of the Company and one-half of one common share purchase warrant
Each Warrant will be exercisable for one Common Share (each a ” Warrant Share “) at any time for a period of 24 months following closing of the Offering
Final pricing of the Units, the Warrant exercise price and the determination of the number of Units to be sold pursuant to the Offering will be determined in the context of the market prior to the filing of the final short form prospectus in respect of the Offering
TORONTO , Nov. 12, 2020 – Avicanna Inc. (” Avicanna “, or the ” Company “) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN) is pleased to announce that it has filed and has been receipted for a preliminary short form prospectus with the securities commissions in Alberta , British Columbia , Manitoba , Ontario and Saskatchewan (the ” Canadian Jurisdictions “) in connection with a marketed public offering (the ” Offering “) of units (the ” Units “) of the Company.
Each Unit will consist of one common share of the Company (each a ” Common Share “) and one-half of one common share purchase warrant (each full warrant, a ” Warrant ” and collectively the ” Warrants “). Each Warrant will be exercisable for one Common Share (each a ” Warrant Share “) at any time for a period of 24 months following closing of the Offering. Final pricing of the Units, the Warrant exercise price and the determination of the number of Units to be sold pursuant to the Offering will be determined in the context of the market prior to the filing of the final short form prospectus in respect of the Offering. The Offering will be conducted on a “best efforts” basis by a syndicate of agents led by Echelon Wealth Partners Inc., as lead agent and sole-bookrunner, and including Beacon Securities Limited and Canaccord Genuity Corp. (collectively, the ” Agents “).
The Company has granted the Agents an option, exercisable in whole or in part, at the sole discretion of the Agents, at any time for a period of 30 days from and including the closing of the Offering, to purchase from the Company up to an additional 15% of the Units sold under the Offering, on the same terms and conditions of the Offering to cover over-allotments, if any, and for market stabilization purposes (the ” Over-Allotment Option “). The Over-Allotment Option may be exercised by the Agents to purchase additional Units, Common Shares, Warrants or any combination thereof.
The Offering will be completed (i) by way of a short form prospectus to be filed in the Canadian Jurisdictions (ii) on a private placement basis to “accredited investors” meeting one or more of the criteria in Rule 501(a) of Regulation D (” Regulation D “) under the United States Securities Act of 1933 , as amended (the ” U.S. Securities Act “) pursuant to Rule 506(b) of Regulation D and/or Section 4(a)(2) thereof and similar exemptions under applicable state securities laws, Qualified Institutional Buyers in the United States pursuant to the registration exemptions provided by Rule 144A of the US Securities Act, and (iii) outside Canada and the United States on a basis which does not require the qualification or registration of any of the Company’s securities under domestic or foreign securities laws.
The Offering is expected to close on or about December 3, 2020 , or such other date as the Company and the Agents may agree. Closing of the Offering is subject to customary closing conditions, including, but not limited to, the execution of an agency agreement and the receipt of all necessary regulatory approvals, including the approval of the securities regulatory authorities and the Toronto Stock Exchange.
The Company intends to use the net proceeds of the Offering for product development, working capital and general corporate purposes.
The preliminary short form prospectus is available on SEDAR at www.sedar.com .
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of securities in the United States . The securities have not been and will not be registered under 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.
About Avicanna Inc.
Avicanna is a diversified and vertically integrated Canadian biopharmaceutical company focused on the research, development, and commercialization of plant-derived cannabinoid-based products for the global consumer, medical, and pharmaceutical market segments.
Avicanna is an established leader in cannabinoid research and development, which it primarily conducts at its R&D headquarters in the Johnson & Johnson Innovation Centre, JLABS @ Toronto, Canada and in collaboration with leading Canadian academic and medical institutions. In addition to its developing pharmaceutical pipeline, Avicanna’s team of experts have developed and commercialized several industry leading product lines, including:
Pura H&W™: an advanced and clinically tested line of CBD consumer derma-cosmetic products; and,
RHO Phyto™: an advanced line of medical cannabis products containing varying ratios of CBD and THC currently available nation-wide across Canada in partnership with Medical Cannabis by Shoppers™, a subsidiary of Shoppers Drug Mart. RHO Phyto is the first strictly medical formulary of advanced “Cannabis 2.0” products, containing oils, sprays, capsules, creams, and gels, all 2 developed with scientific rigour, manufactured under GMP standards and supported by pre-clinical data.
With ongoing clinical trials on its derma-cosmetic (Pura H&W), medical cannabis (RHO Phyto) and a pipeline of pharmaceutical products, Avicanna’s dedication to researching the important role that cannabinoids play in an increasingly wider scope of products has been at the core of the Company’s vision since its inception. Furthermore, Avicanna’s commitment to education is demonstrated through its annual medical symposium, the Avicanna Academy educational platform, and the My Cannabis Clinic patient program through its subsidiary company.
Avicanna manages its own supply chain including cultivation and extraction through its two majority-owned subsidiaries, Sativa Nativa S.A.S. and Santa Marta Golden Hemp S.A.S., both located in Santa Marta , Colombia . Through these sustainable, economical, and industrial scale subsidiaries, Avicanna cultivates, processes, and commercializes a range of cannabis and hemp cultivars dominant in CBD, CBG, THC, and other cannabinoids for use as active pharmaceutical ingredients. Avicanna’s Avesta Genetica program specializes in the development and optimization of rare cultivars for commercial production along with feminized seeds for global export. In June 2020 , Avicanna made history with a shipment of hemp seeds to the United States of America by completing the first ever export of hemp seeds from Colombia .
Stay Connected
For more information about Avicanna, visit www.avicanna.com , call 1-647-243-5283, or contact Setu Purohit , President by email at [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. The forward-looking information contained in this news release is based on certain key expectations and assumptions made by the Company, including expectations and assumptions regarding the terms, timing and potential completion of the Offering, satisfaction of regulatory requirements in various jurisdictions and the use of proceeds from the Offering.
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, the delay or failure to receive regulatory approvals, 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 .
Posted by AGORACOM-JC
at 3:32 PM on Thursday, November 12th, 2020
MONTREAL, Nov. 12, 2020 — PyroGenesis Canada Inc. (TSX-V: PYR; OTCQB: PYRNF; FRA: 8PY) (the “ Company ” or “ PyroGenesis ”), a high-tech company that designs, develops, manufactures and commercializes advanced plasma processes and products, is pleased to provide an update on the Company’s iron ore pelletization plasma torch business.
Mr. P. Peter Pascali, CEO and Chair of PyroGenesis, provides this update in the following Q&A format. The questions, for the most part, are derived from inquiries received from investors, and analysts:
Q1.For thosewhoare new to the story, could you pleaseprovideuswithsome background on yourhigh-powered(~ 1 MW range)plasma torchbusinessand howitrelatestotheiron orepelletizationindustry?
A. Most certainly.
For background, pelletization is the process in which iron ore is concentrated before shipment, thus significantly reducing the cost of transportation, and providing a required feedstock for blast furnaces. In conventional technologies, the process heat is provided by fuel oil or natural gas burners (both environmentally damaging). The combustion, in the burners, of fossil fuels results in the production of greenhouse gases (“GHG”), mainly CO 2 . Plasma torches, by contrast, utilize renewable electricity and as such offer an environmentally attractive alternative to fossil fuel burners.
In January 2019, PyroGenesis was contracted for a 900kW plasma torch with a client which we later disclosed to be RISE Energy Technology Center AB (“RISE”) of Sweden. RISE was engaged in addressing the Swedish government’s commitment to zero carbon emissions 1 ; namely that within the iron ore pelletization industry. The ultimate objective was to determine the benefits, if any, of replacing traditional fossil fuel burners used in iron ore pelletization with plasma torches. We delivered the plasma torch and completed testing in 9 months.
Of note, PyroGenesis has a patented process to replace fossil fuel burners with PyroGenesis’ clean burning plasma torches, thereby reducing GHG emissions, for the iron ore pelletization industry.
Q2.So,PyroGenesishas the patent to replace fossilfuelburnerswith plasma torches intheiron orepelletizationindustry?
A. Yes, we do. In other industries, we expect to leverage off of our first mover advantage developed in the iron ore pelletization industry.
Q3.The RISE contract went well.What happened next?
A. Our original goal was simply to have our torches be a contender in Sweden’s strategy to reduce GHG emissions in the iron ore pelletization industry. What we did not realize at the time, was the impact this would have on the industry as a whole. As noted above, we successfully completed the RISE contract in 9 months, which once made public, had a resounding effect as we apparently were addressing a significant concern in the industry with respect to GHG emissions reduction. Given this interest, we were approached by several companies in the industry which we have come to term Client A, B and C. Two of the three wanted to immediately engage in a modelling contract, and the third is in the process of considering such. We prefer to engage in a modelling-first-step as it helps quantify parameters that may be specific to the client.
Modelling is a computer-based simulation of the performance of PyroGenesis’ proprietary plasma torches using the specific parameters in a particular iron ore pelletization plant. The goal is to demonstrate the benefits of replacing existing fossil fuel burners with plasma torches and/or identify unanticipated or hidden costs/side effects.
To date, between RISE and the modelling we have done, two of the most important benefits demonstrated were i) that replacing fossil fuel burners with plasma torches was a simple replacement, plug and play process, and ii) that PyroGenesis’ proprietary plasma torches significantly reduce GHG emissions. There have been no unanticipated or hidden costs.
Furthermore, we have noticed that our patented plasma torch technology, not only has economic and environmental advantages, but may also address environmental policies and legislation being implemented worldwide. For example, the European Union (EU), as part of the EU’s 2030 climate and energy framework and contribution to the Paris Agreement 2 , has put in place legislation to reduce emissions by at least 40% by 2030.
As a result, many companies in the field are implementing business strategies directed at reducing GHG emissions. As an example, a major international iron ore pelletizer has dedicated approx. US $2B towards their goal of reducing their carbon emission by 33% by 2030 3 .
We believe PyroGenesis is uniquely positioned to address such opportunities.
Q4.Interesting…soreplacing fossil fuelburnerswith plasma torches might be able toeconomically,andsignificantly,reduce theGHGemissionsin the iron orepelletizationindustry?
A. Correct.
Management has internally estimated that a typical pellet plant producing 10 million metric tonnes of pellets annually emits approximately one million metric tonnes of CO 2 4 . The total world pellet production of 400 million metric tonnes of pellets represents a potential market for torch sales in excess of $10B worldwide. The world pellet industry generates about 40 million metric tonnes of CO 2 every year. The use of plasma torches running off a clean electrical grid would reduce these emissions significantly. For reference, 40 million tonnes of CO 2 represent the combined yearly emissions of 8.7 million US passenger vehicles 5 .
The impact of replacing fossil fuel burners with plasma torches not only resonates in the iron ore pelletization industry, where we are patent protected, but also in other industries such as the aluminum, cement and glass industries, who are also pressured to reduce GHG emissions.
Q5.What is yourbusiness modelfor replacing fossil fuel burnerswith plasma torches, specificallyin the iron orepelletizationindustry which seems to be the low–hanging fruit?
A. This is a very good question.
Our offering is geared to address the need to develop fossil fuel free energy-mining-iron-steel value chain and thereby provide a basis for governance and industrial strategies for transformative change. Until recently, the business model was simply to sell torches (with an internal target of $3MM NPV per torch) with the recurring revenue derived from typical maintenance and spare parts contracts.
We now have come to appreciate the economics of leasing torches instead of an outright sell. This model has clear advantages to both parties; little-to-no CAPEX to the buyer, healthy recurring revenue stream to the seller. At this stage, we see this to be the fastest way to grow this business segment, and is a significant strategy-shift for the Company as it relates to this offering, and which we expect will play a key role in our position/ongoing discussions with clients.
Q6.Wouldn’t this leasing model be capital intensive?
A. Yes and no.
It is capital intensive of course, however, there are major leasing companies we can team up with to provide this service. Given the size and credit worthiness of the client, together with a proven technology, we do not see this to be an issue. Had the client been small, their credit worthiness not be conducive to leasing, or the technology not be proven, then the burden would be on PyroGenesis to provide that capital, and we do not see ourselves engaging in that type of financing.
Q7.Inclosing, can yougive usa status/update onthe existingagreements/contractsunder discussion?
A. Certainly .
All of our projects are on track and progressing nicely. As previously disclosed on September 1 st , 2020, we have received a draft contract from Client A, which is still in the final stages of completion. The fact that we received this contract from Client A, on the heels of a successful modelling contract, who is a significant player in the industry, clearly demonstrates the impact that PyroGenesis’ proprietary plasma torches are having on iron ore pelletization GHG reduction strategies. If signed, and successfully deployed, one might expect they would start a program to replace their fossil fuel burners with PyroGenesis’ plasma torches. Although nothing is certain, we are definitely on the right track with Client A.
Client B has finalized their modelling contract, and like Client A, has moved to contract negotiations and requested a quote for an initial order of four torches which we have recently provided.
Client C is moving forward as well. We are confident that they will agree to enter into a modeling contract before an initial order of torches is placed. We find this to be the most prudent next step.
We are also in discussion with potential clients in other industries to replace their fossil fuel burners with PyroGenesis’ plasma torches.
AboutPyroGenesisCanada Inc.
PyroGenesis Canada Inc., a high-tech company, is a leader in the design, development, manufacture and commercialization of advanced plasma processes and products. The Company provides its engineering and manufacturing expertise and its turnkey process equipment packages to customers in the defense, metallurgical, mining, advanced materials (including 3D printing), and environmental industries. With a team of experienced engineers, scientists and technicians working out of its Montreal office and its 3,800 m 2 manufacturing facility, PyroGenesis maintains its competitive advantage by remaining at the forefront of technology development and commercialization. The Company’s core competencies allow PyroGenesis to provide innovative plasma torches, plasma waste processes, high-temperature metallurgical processes, and engineering services to the global marketplace. PyroGenesis’ operations are ISO 9001:2015 and AS9100D certified. 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 Company’s current expectation and assumptions and are subject toa number ofrisks 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, the closing and timing of the Company’s public offering. Such statements reflect the current views of the Company with respect to future events and are subject to certain risks and uncertainties and other risks detailed from time-to-time in the Company’s ongoing filings with the securities regulatory authorities, including under “Risk Factors” in the Company’s most recent annual information form, which filings can be found under the Company’s profile 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 Company undertakes no obligation to publicly update or revise any forward- looking statements eitheras a result ofnew 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 theToronto Stock Exchangenor 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, Investor Relations and Strategic Business Development, Phone: (514) 937-0002, E-mail: [email protected] RELATED LINK: http://www.pyrogenesis.com/
1 https://www.ssab.com/company/sustainability/sustainable-operations/hybrit 2 https://ec.europa.eu/clima/policies/strategies/progress_en 3 http://www.vale.com/brasil/EN/sustainability/Pages/carbonneutral.aspx 4 M. Huerta, J. Bolen, M. Okrutny, I. Cameron and K. O’Leary, “Guidelines for Selecting Pellet Plant Technology”, Iron Ore Conference 2015 Proceedings, Perth, WA, July 13-15, 2015 5 https://www.epa.gov/greenvehicles/greenhouse-gas-emissions-typical-passenger-vehicle
Posted by AGORACOM-JC
at 12:18 PM on Thursday, November 12th, 2020
The devastation and destruction of Coronavirus COVID-19 is well documented and doesn’t need much repeating here.
What we do know is that COVID-19 has created global demand for highly specialty products required to protect, test, detect and defend as many people as possible.
Moreover, given its persistence and the potential for a 2nd wave around the world, governments and businesses both big and small are now in need of solutions that go beyond locking down economies by helping them stay open, generate revenue, keep people employed … all while keeping them safe.
There are no magic bullets. COVD-19 didn’t exist 12 months ago, so there are no established or incumbent leaders. This has created an opportunity for small but nimble companies with high-tech expertise to adapt their products as solutions in one of the many verticals that require help fighting COVID-19.
Here are 6 small-cap companies (in alphabetical order) that have provided real solutions to helping the fight against COVID-19.
Datametrex AI Limited (DM:TSXV) (D4G:FSE) (DTMXF: OTC )an AI and Machine learning company was well positioned with deep roots in South Korea to make the ultimate pivot to Covid-19 test kit distribution. When the Canadian Government came calling for assistance in importing and distributing COVID-19 test kits, Datametrex stepped up to the task thanks to its security clearances already in place in both countries.
Since then, the company has signed multiple multi-million dollar Covid-19 test kit supply agreements with mining companies, a $20M CAD agreement with the television and film industry and various educational institutions. This is in addition to lucrative AI contracts with various levels of government and enterprise level customers such as LOTTE Group, the fifth-largest conglomerate in Korea with annual revenues of approximately $60B USD.
REVENUE $CAD
Q1 + 62% To $809,000
Q2 + 419% To $1,954,000
TOTAL Q1 AND Q2
REVENUE $2.8M vs $875K = +220%
GROSS PROFIT $1.2 vs $739K = +62%
Given the speed of incoming contracts, the quarterly financials don’t reflect deals done during the third quarter. Here’s just a few;
Datametrex Expands Distribution of Film and Television Coronavirus Testing Across Canada (October 27, 2020)
Expands to Toronto Film Production Company for COVID-19 Testing Solutions (September 30, 2020)
$20M Supply Agreement With Major Worldwide Media & Entertainment Company for COVID-19 (September 24, 2020)
Received Third COVID-19 Order from TV Production Company (September 21, 2020)
Received COVID-19 Test Kits Order for $1.6M From a Canadian Mining Company (September 3, 2020)
·· The company has also experienced robust demand for related services. Datametrex entered into a sales agreement with 7-Eleven Korea for Robotic Process Automation infrastructure (RPA) in order to automate certain business processes.
The global RPA market size is expected to reach $7.2 billion by 2025, rising at a market growth of 32.6% CAGR during the forecast period. RPA is the technology that enables anyone to configure computer software today, or a “robot” to replicate and incorporate the actions of a person working within digital systems to conduct a business process.
For more information, please visit the Datametrex AI hub on AGORACOM.
Empower (CBDT: CSE) (EPWCF:OTCQB) (8EC:Frankfurt) is a vertically integrated, multi-state operator of medical clinics with a database of over 165,000 patients, a database that almost every medical cannabis and CBD company would kill for …. but that’s not all. In an effort to combat COVID-19 the company’s physician staffed clinics have are also generating significant revenue and growth as follows:
Increased CBD treatments from patients suffering increased anxiety;
Covid-19 Testing for individuals and families
Covid-19 Testing for local businesses and employees
Covid-19 Testing for enterprise level organizations across the country
Empower Clinics and Loop Insights Combine COVID-19 Testing Expertise With Venue Tracing To Create First Ever “Travel Bubble” Solution For Global Travel Industry Set To Lose $3.3 Trillion
How significant is this acquisition that only closed a couple of weeks ago? At the lowest price of $USD 80 per test and operating on just 1,000 tests per day, the clinic would deliver $USD 80,000 in revenue PER DAY.
Patient Visits
Q1 + 377% To 5,717
Q2 + 56% To 6,696
Revenues $USD
Q1 + 416% To $790,000 (NO COVID)
Q2 + 56% To $923.000
TOTAL Q1 AND Q2
REVENUE $1.7M vs $745K = + 130%
PATIENTS 12,400 vs 5,500 = + 125%
NET LOSS $920K vs 1.85M = – 50%
Empower has now delivered growth in 4 successive financial reports (Q4, FY 2019, Q1 and Q2), so it is safe to say that superstar CEO Steve McAuley can officially claim victory on the turnaround he inherited in 2019.
Oh, and did we mention that CEO Steven McAuley is Six Sigma certified under the quality initiative of legendary GE (General Electric) Chairman Jack Welch? We’ve never seen a Six Sigma certified CEO in the Canadian small cap markets. Never. Which explains how McAuley has been able to guide Empower Clinics through the most disruptive retail environment in recent history and turn it into significant growth.
For more information about the company, please check out the Empower HUB on AGORACOM.
Innocan Pharma Corporation (INNO: CSE) (IP4:FSE) is an Israeli based company developing the pharmaceutical guided missile to defeat coronavirus lung infections. The company specializes in the development of new drug platforms which combine unique properties of Cannabinoids.
Innocan, together with Tel Aviv University are developing new, revolutionary exosome based technology (CLX), loaded with cannabidiol (CBD) targeting the coronavirus infected lung cells.
Why is this significant?
CLX may hold the potential to provide anti-inflammatory properties and assist in the recovery of infected lung cells. It is expected to be administrated by inhalation, CLX will be tested on a variety of lung infections focusing on patients infected by the coronavirus disease.
Superior Management Team
More than just lip service, Innocan has a world class management team to make this happen.
In the small cap world, the jockey(s) that drive the horse are just as important as the horse itself. The Innocan Leadership Group Is Incomparable In The Small Cap World, Comprised Of Leading Israeli Pharmaceutical Executives including:
Executive Chairman (Ron Mayron) was the CEO Of Teva Israel, one of the largest generic pharmaceutical companies in the world
Co-Founder & VP Business Development (Yoram Drucker) was the Founder of 2 NASDAQ Companies (Pluristem & Brainstorm)
Chief Technology Officer (Nir Avram) is a former member of the pharma innovation team at Perrigo, producer of OTC consumer goods and specialty pharma.
Chief Executive Officer (Iris Bincovich) has a proven track record in opening global markets, having managed hundreds of successful transactions in OTC, cosmetics and dermatology.
While the Company develops their pharmaceutical solution, Innocan has a portfolio of patent-pending and launch ready consumer health products that are already commercializing around the world as follows:
CONSUMER RETAIL – DERMA COSMETICS – A premium derma cosmetics brand, manufacturing has commenced with distribution agreements in place.
OVER THE COUNTER (OTC) PRODUCTS FOR PAIN RELIEF – patent-pending CBD pain relief brand received FDA technical validation.
Global Manufacturing / Distribution Agreements
To support this global growth, Innocan already has the following relationships in place:
Endless Sky Inc. a Canadian large scale Cannabis extractor (Manufacturing and Distribution – Canada)
Active Therapeutics Ltd of Lancashire, United Kingdom (Distribution – UK and Ireland markets)
For more information about the company, please check out the Innocan Pharma Corporation hub on AGORACOM.
Kontrol Energy is the Google NEST of smart building technology, with a Blue Chip client base to prove it with the likes of Beyond Meat, Toyota, Oxford, Telus and Brookfield to name a few.
As a result, Kontrol is already achieving commercial success as follows:
· Q1 $2.3M
· Q2 $2.7M
TOTAL Q1 AND Q2
REVENUE $5M
GROSS PROFIT $2.7M
ADAPTING CORE TECH TO PROVIDE BLUE CHIP CUSTOMERS WITH REAL-TIME AIR DETECTION OF COVID-19 IN COMMERCIAL BUILDINGS
As a result of the COVID-19 pandemic and the needs of its blue chip customer base, Kontrol is adapting its core technologies team to development and commercialize its Kontrol BioCloud® analyzer, a wall-mounted technology which detects the presence of COVID-19 in the air of commercial buildings and triggers an alert system to provide real time notifications.
GEARING UP PRODUCTION FOR UP TO 20,000 UNITS PER MONTH
Initial expectations, based on lab testing completed to date, is that BioCloud will be effective in small to medium space settings with 3 or more people, and therefore would be suitable for areas such as classrooms, offices, airplanes, trains, buses, long-term care facilities and hospitals. The company is currently building a global supply chain with the goal of being able to supply 20,000 units per month.
The implications of the Kontrol BioCloud® analyzer could be enormous and could have a major impact on the global economy. Paul Ghezzi, CEO of Kontrol Energy has received calls from interested parties spanning the entire globe. In addition, mainstream media has taken notice:
Early tests suggest new Canadian technology could detect the coronavirus in the air Read More
Canadian firm develops tech to ‘detect COVID-19 in the air’; stock doubles Read More.
Kontrol Energy’s BioCloud Featured By Singapore’s IBI Times Read More
CSA APPROVAL RECEIVED ON NOVEMBER 5TH
On Novebmer 5th, KNR announced receipt of CSA standards approval for its BioCloud® technology.
“This is another important milestone for Kontrol and represents the continuing advancement of the BioCloud® technology,” says Paul Ghezzi, CEO Kontrol. “CSA is a Canadian standard for safety and is also accepted in jurisdictions outside Canada. In addition to CSA we continue to work on other important regional certifications including UL and CE for the United States and European markets respectively.”
UL STANDARDS APPROVAL RECEIVED NOVEMBER 12TH
“We continue to execute on the important milestones for commercialization of BioCloud,” says Paul Ghezzi, CEO of Kontrol. “With CSA and UL we now have standards approval that covers Canada, the United States and various other global regions. We continue to work towards CE standards certification which is primarily for the European market.”
DISCLAIMER: The Company has not made any express or implied claims that its product has the ability to eliminate, cure or contain the COVID-19 (or SARS-2 Coronavirus).
For more information about the company, please check out the Kontrol Energy hub on AGORACOM.
Loop Insights (MTRX:TSXV)(RACMF:OTCQB) was already a leading provider of contactless solutions and artificial intelligence (“AI”) to the brick and mortar space prior to the arrival of COVID-19.
Over the last few months Loop has adapted its contactless platform to also provide contact tracing and real-time testing to large venues and businesses. More than just lip service, Loop has already announced significant partnerships and news with the likes of:
“By partnering with innovative and leading IoT development companies, such as Loop, we’re ensuring that our customers have access to some of the most advanced IoT business solutions in the world.”
The presentation ended at approximately 1:15 PM EST, and by 8:00 PM EST Loop had received over 100 direct inquiries from enterprise-level attendees spanning many different industries and countries. Loop Insights anticipates many more direct inquiries to be received in the coming days.
Loop Insights CEO Rob Anson:
“We knew going into the webinar that interest in our Contactless Platform and Solutions was very high given the high-level nature of clients we had already announced leading up to it. These attendees, many of whom represent household name entities, were looking to us for solutions that can protect people, instill confidence in their customers and get their enterprises moving once again. Nonetheless, the response to the demonstration of our Contactless Venue Tracing Platform was simply incredible and even surpassed our expectations. We are optimistic that Loop Insights is establishing an identity as a global force in the contactless space and believe the responses will lead to significant business for Loop. We can’t thank Amazon Web Services enough for their continued support and partnership.”
In addition to these successes, Loop stated that its Venue Tracing platform is clearly gaining recognition and third-party validation, including implementations with:
Implemented Into the Las Vegas flagship properties of a Global Hospitality company (July 23, 2020)
Invited by NCAA DIV 1 BIG EAST CONFERENCE To Present Solution For 11 schools (August 17, 2020)
Partnership with BDG sports to deliver NBA, NHL, NCAA and PGA Sporting Events. (August 13, 2020)
Loop Insights Signs $1,930,000 USD License Deal with Austin, TX Based CasaPerks (September 28, 2020)
Selected as the Premier Venue Tracing and Fan Engagement Solution for NCAA College Basketball “Bubble” in Las Vegas (October 8, 2020)
For more information about the company, please check out the Loop Insights hub on AGORACOM.
Primo Nutraceuticals, a player in the hemp space pivoted early in the pandemic to sell their Primo Lemon Hand Sanitizer in Amazon’s Personal Safety & Household category. The company further solidified its move to PPE by entering into agreement with Duquette Consulting LLC, a company owned by Dan Duquette.
Dan Duquette is a twice named Major League Baseball (MLB) Executive of the Year and former Executive Vice-President of the Baltimore Orioles, General Manager of the Montreal Expos, Boston Red Sox, and Milwaukee Brewers (https://en.wikipedia.org/wiki/Dan_Duquette). Dan Duquette has joined forces with Primo Nutraceuticals to partner in the development, sourcing and the global supply of personal protective equipment products.
The company has been issued a Medical Device Establishment License from Health Canada.The MDEL is a license issued to companies for the activities of manufacturing, importing and distributing of all four classes of medical devices for human use in Canada. These classes include; nitrile gloves, N95 surgical masks & KN95 masks, surgical gowns, respirators and testing kits to name a few.
The PPE Distribution Market worth $28.9 Billion by 2025 in North America and E.U
The North America and Europe distribution market for PPE is expected to reach US$28.95 M by 2025.
The safety-supplies sector in North America is anticipated to witness significant growth of over 7% from 2017 to 2025.
Head, eye and face protection are anticipated to grow at a compound annual growth rate of over 6% from 2017 to 2025.
For more information about the company, please check out the Primo Nutraceuticals hub on AGORACOM.
Thanks for reading and discovering these great small cap companies. Please be sure to visit the AGORACOM Small Cap Coronavirus Covid-19 company gateway often to stay up to date with new companies at:
Posted by AGORACOM-JC
at 10:28 AM on Thursday, November 12th, 2020
Announced that it has signed a binding letter of intent (“LOI”) with Full Spectrum Biosciences Inc.(“FSB”),a Colorado company
FSB is an intellectual property (“IP”), formulation and white label provider that has conducted sales via e-commerce, online, Amazon and doctors’ offices within the United States offering popular CBD, CBG and Hemp oil extract products like RehabRx and Hemp Pops
The Company will be acquiring the assets and inventory of FSB. The LOI is legally binding and subject to the negotiation of a definitive agreement
VANCOUVER, British Columbia, Nov. 12, 2020 — PRIMO NUTRACEUTICALS INC. (CSE: PRMO) (OTC: BUGVF ) (FSE: 8BV) (DEU: 8BV) (MUN: 8BV) (STU: 8BV) (” PRIMO ” or the “Company”) is pleased to announce that it has signed a binding letter of intent (“LOI”) with Full Spectrum Biosciences Inc.(“FSB”),a Colorado company.
FSB is an intellectual property (“IP”), formulation and white label provider that has conducted sales via e-commerce, online, Amazon and doctors’ offices within the United States offering popular CBD, CBG and Hemp oil extract products like RehabRx and Hemp Pops. The Company will be acquiring the assets and inventory of FSB. The LOI is legally binding and subject to the negotiation of a definitive agreement (the “ Definitive Agreement ”).
TERMS OF THE TRANSACTION
The Company will acquire 100% of the revenue generating assets including the web sites for the popular CBD, CBG and Hemp oil extract products like RehabRx, ( www.rehabrx.com ) and Hemp Pops, ( www.hemppops.com ), the current inventory and the sales and distribution networks that have generated approximately $25,000 to $30,000 USD in monthly revenues since 2018 (the “Transaction”). Gross margin is estimated at 30%.
The consideration for the Purchase will be stipulated in the form of a number of common shares of PRIMO (the “Consideration Shares”) at a per share price equal to the volume weighted average price of such shares on the Canadian Securities Exchange over a 15-day period ending on the day such Consideration Shares are required to be issued (“15 day VWAP”). The consideration paid by Primo to FSB for the Transaction shall be based on an independent valuation of the Assets by a Third Party Valuator. The valuation is currently in progress.
There will be no Change of Control or Fundamental change of business. The Transaction will be subject to review by the parties’ tax, corporate, and legal advisors prior to Closing. The senior management team of PRIMO will consist of those officers presently appointed by the board of directors of PRIMO and shall remain the same.
AboutAgritekHoldings Inc. and Full Spectrum Biosciences
FSB is a licensed Colorado Corporation which is a wholly owned subsidiary of Agritek Holdings Inc. existing under the laws of the State of Delaware as a “C” corporation, and a publicly traded company on the OTC Markets under the symbol “AGTK” (“Agritek”).
Agritek Holdings, Inc. ( www.AgritekHoldings.com ), is a fully integrated, active real estate investor and advisor of white label brands in the legal cannabis sector. Specifically, Agritek Holdings provides strategic capital and functional expertise to accelerate the commercialization of its diversified portfolio of cannabis related real estate holdings. The hemp based raw material and products produced at facilities owned by Agritek Holdings and leased back to licensed operators are then used for retail branded CBD, CBG and Hemp oil extract products produced by its subsidiary Full Spectrum Biosciences presently sold via e-commerce, online, Amazon and Doctors offices within the United States. Brands include RehabRX, Hemp Pops, MDVapes , and multiple white labeled brands. Agritek Holdings Inc. does not directly grow, harvest, or distribute or sell cannabis or any substances that violate or contravene United States law or the Controlled Substances Act
“REHAB RX” – Pain Cream, Tinctures, and Gummies; www.rehabrx.com
Rehabrx.com and Hemppops.com are owned and operated by Full Spectrum Biosciences, Inc., a Colorado corporation with offices in Colorado.
The GlobalCBD Market
The global CBD market is expected to reach USD 146.4 billion by the end of 2025, according to a new report by Grand View Research, Inc. Growing adoption of marijuana in several medical applications such as cancer, mental disorders, chronic pain and others is expected to propel revenue growth in near future.
RichardCindric,CEOComments:
“We are extremely excited to be signing a LOI with Full Spectrum. Gaining FSB’s IP, formulation, white label resources as well as it’s already developed brands like RehabRx and Hemp Pops is a major milestone for the company. As we enter the US nutraceutical market with this acquisition, we believe FSB’s assets compliments our nutraceutical line of products very well. We look forward to working with the FSB team, as well as the introduction of possible future acquisitions.”
Michael Friedman, CEO of Full Spectrum Comments:
“I am pleased to deliver on our promise to the Agritek shareholders that our wholly owned subsidiary Full Spectrum Biosciences has entered into this asset purchase agreement with Primo Nutraceuticals. By having access to both the Canadian and US public markets through Primo, we can work to build our company in both jurisdictions and bring greater value through our combined management teams and contacts for our wellness brands. Our recently announced test pilot program with Biomedican (www.Biomedican.com) using proprietary yeast for synthetic cannabinoid profiles in my opinion will propel our combined companies to an entirely different level within the nutraceutical space and allow us to compete as a biotech within the wellness sector under our new parent company Primo Nutraceuticals”, stated B. Michael Friedman, CEO Agritek Holdings Inc.”
About PrimoNutraceuticalsInc.
Primo Nutraceuticals Inc. (“Primo” or the “Company”) is dedicated to funding the rapid growth in production, processing, retail and branding of cannabis and non-cannabis natural health products in Canada and the United States. Primo has invested in several brands and is pursuing partnerships with retailers and distribution companies in Canada and the United States. Primo’smanagement is in the process of building a corporate road map to further vertically integrate the Company; specifically, by way of the “Primo” & “Thrive,” brands and a selection of curated partner brands. Most recently Primo announced that it had received its Natural Product Number (NPN) and it has been issued a Medical Device Establishment License (MDEL) from Health Canada.
On behalf of the Board of Directors
PRIMO NUTRACEUTICALS INC.
Richard Cindric CEO and Director
For further information, please contact Zoltan Sarkozy, IR Representative at: 604-722-0305, or; [email protected] .
To learn more about what this news means to the shareholders visit:
FORWARD LOOKING STATEMENTS: This news release contains certain forward-looking statements within the meaning of Canadian securities laws. Forward-looking statements are based on the expectations and opinions of the Company’s management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise. No regulatory authority has approved or disapproved the information contained in this news release.
Posted by AGORACOM-JC
at 9:21 AM on Thursday, November 12th, 2020
There is no denying the world of esports was already on a rapid growth rate prior to the COVID-19 pandemic. However, according to TGS Esports (TGS:TSXV), the growth and awareness of esports over the past several months has accelerated the industry by at least a couple of years, if not more.
Recognizing this trend, TGS pivoted quickly from venue based esports to becoming a leader in esports events, sponsorship and productions. More than just lip service, tournaments hosted to date have been sponsored by the likes of:
Pepsi
Red Bull
7-11
Shaw Cable
More than just events, TGS also creates high quality production value out of these events, which have already seen more than 20,000 hours of viewership on Twitch and featured on GINX Esports TV (Canada), with the potential to expand with GINX to over 50 countries.
If the story ended there, TGS would have the makings of a great early stage esports story …. but it doesn’t
$6 MILLION ACQUISITION OF “PEPPER ESPORTS”
The recent acquisition of Pepper Esports takes the TGS offering to a whole different level by providing everyone from enterprise sized clients to small business to a group of buddies to create their own esports tournaments. The platform is so powerful it will handle everything from registration to game play, prize payouts and everything in between that an entity needs to host a successful esports tournament. Awesome right? No, it gets better.
Hosting your own esports tournament is FREE. TGS and Pepper figured out that the best way to get mass usage of their platform is to make it $0 upfront and generate $$ from revenue share on all transactions that take place during the tournament.
When you bolt on the fact that TGS can now broadcast that tournament, the Company believes its offering can’t be matched anywhere in the world. We like it so much that we’re already considering hosting Agoracom esports tournaments for clients and shareholders who can either play or watch.
Watch this great interview with the CEO’s of both TGS and Pepper to find out more details and feel their mutual excitement about the future.
Posted by AGORACOM-JC
at 9:19 AM on Thursday, November 12th, 2020
Announced a strategic role as a Steering Member of the Trust over IP (“ToIP”) Foundation (www.trustoverip.org).
In taking on this role, KABN joins other Steering Members including Accenture, Anonyme Labs, Continuum Loop, Evernym, Finicity, Futurewei, IBM, ID Ramp, LG CNS, Mastercard and others.
The Trust over IP Foundation has over 170 members, including organizations as well as individuals, collaborating together with the common objective of changing the way people interact online.
TORONTO, ON and GIBRALTAR / November 12, 2020 / The KABN Network together with KABN Systems NA Holdings Corp. (CSE:KABN) (the “Company” or “KABN North America“) (www.kabnsystemsna.com), a Canadian Fintech company that specializes in continuous online identity verification, management and monetization in Canada and the US, today has announced a strategic role as a Steering Member of the Trust over IP (“ToIP”) Foundation (www.trustoverip.org).
In taking on this role, KABN joins other Steering Members including Accenture, Anonyme Labs, Continuum Loop, Evernym, Finicity, Futurewei, IBM, ID Ramp, LG CNS, Mastercard and others. The Trust over IP Foundation has over 170 members, including organizations as well as individuals, collaborating together with the common objective of changing the way people interact online.
The Trust over IP Foundation is defining a complete architecture for Internet-scale digital trust that combines both cryptographic trust at the machine layer and human trust at the business, legal, and social layers. As part of this community, the KABN Network is focused on bridging the gap between traditional fintech services and solutions and new and innovative Verified Credential processes.
KABN aims to use proven bank-grade identity verification processes to allow Holders (who use a credential), Verifiers (who confirm the validity of a credential) and Issuers (who produce the credential) to complete transactions of many kinds including financial services, eCommerce transactions, organization, building and visitor access badges among others.
“I am certain KABN will make a strong contribution to the Trust over IP Foundation.” said John Jordan, executive director, BC Digital Trust Service and executive director of ToIP. “People and businesses are going to continue using the internet to build relationships and complete transactions digitally with all the risks of security breaches and fraud that go along with it today. It’s time for a change. Global leaders are working together at our Foundation to make it possible for people to be known and to build trusted relationships online. I am happy to have KABN be part of this effort.”
Businesses today struggle to protect and manage digital assets and data, especially in an increasingly complex enterprise environment that includes the Internet of Things (IoT), Edge Computing, Artificial Intelligence and much more. This is compounding the already low consumer confidence in the use of personal data and is slowing innovation on opportunities like digital identity and the adoption of new services that can support humanity.
The KABN Network believes that without a global standard for how to ensure digital trust, these struggles are bound to continue. The four layers of Trust over IP’s dual governance and technology stack establish a clear model for how utilities, technical components, business rules and human-focused design can combine to solve this set of problems. The digital trust ecosystems that emerge from Trust over IP will help businesses, citizens and governments alike use the internet to create enduring trusted relationships that allow transactions to be completed safely and with confidence.
“With the ToIP Technology and Governance Stack, the industry is now in a position for an Identity Paradigm shift. Future generations will have a hard time believing that there was a day when everyone was anonymous on the Internet and we believe that the KABN Network is at the forefront of this evolution,” said RJ Reiser, KABN North America CBDO, Director and Co-Chair ToIP Ecosystem Foundry Working Group.
About the Trust over IP Foundation
Launched in 2020, the Trust over IP Foundation is an independent project hosted by the Linux Foundation. Its members include over 150 leading companies, organizations and individual contributors sharing expertise and collaborating to define standard specifications to advance a secure trust layer for the digital world. Through this collaborative effort, the Trust over IP Foundation aims to define a complete architecture for Internet-scale digital trust that combines cryptographic trust at the machine layer with human trust at the business, legal, and social layers. For more information, please visit us at trustoverip.org.
The Linux Foundation has registered trademarks and uses trademarks. For a list of trademarks of The Linux Foundation, please see its trademark usage page: www.linuxfoundation.org/trademark-usage. Linux is a registered trademark of Linus Torvalds.
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 proprietary technology suite includes 4 key products:
Liquid Avatar allows users to create high quality digital icons representing their online personas. These icons, in conjunction with KABN ID, allow users to manage and control their Digital Identity and to use Liquid Avatars to share public and permission based private data when they want and with whom they want. www.liquidavatar.com
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.
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
David Lucatch Chief Executive Officer 647-725-7742 Ext. 701 [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 9:05 AM on Thursday, November 12th, 2020
Another double-digit increase in revenue quarter over quarter as the company continues to execute on its business plan to commercialize its brands in different geographic markets and product segments.
Successful launch of the RHO Phyto line of advanced medical cannabis products nationwide in Canada in partnership with Medical Cannabis by Shoppers Drug Mart Inc.
Good Preparation Practices certification and authorization by the National Institute for Drug and Food Surveillance (“INVIMA”) for the sale of compounded pharmaceutical products to service medical prescriptions of individual patients in Colombia.
TORONTO, Nov. 12, 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 announces results for the third quarter ended September 30, 2020.
Aras Azadian, Chief Executive Officer of Avicanna, commented “We are thrilled to report the tremendous progress our team continues to make in our commercialization and research efforts. During the third quarter, we were able to demonstrate the superiority of our technologies and products with several strategic commercial partnerships but also with an incredibly successful launch of our medical products in the Canadian market.”
Third Quarter Highlights
The Company continued to make strides in its strategic commercial initiatives, leading to an increase in revenue of approximately 24% from Q2-2020, continuing the trend of double-digit growth, quarter over quarter from Q4-2019. In addition, the Company was able to reach a major milestone with the launch of certain products from its RHO Phyto product line in Canada and further diversified its revenue streams. Below is a summary of the revenue trend over the last four quarters.
Avicanna launched the first product of its RHO Phyto branded line of medical cannabis products on the Medical Cannabis by Shoppers™ (“Shoppers”) platform on August 12, 2020. As of the date of this MD&A, Avicanna has launched its oil drops and sublingual sprays, for a total of four SKUs, through the Shoppers online platform, which offers nationwide service to Canadians.
Certain of the RHO Phyto products are participating in the Medical Cannabis Real-World Evidence study (“MC-RWE study”) at the University Health Network (“UHN”). This 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.
The Company hosted its third annual symposium, “Medical Cannabis 2.0”, through a virtual format on July 21, 2020. The presentations focused on the evolution of medical cannabis including the Avicanna led advancements in R&D for novel cannabinoid delivery forms and formulations. Presenters including Dr. Ruth Ross (Professor and Chair, Department of Pharmacology & Toxicology, Faculty of Medicine, University of Toronto, Senior Scientist, Campbell Family Mental Health Research Institute, Centre for Addiction and Mental Health) and Dr. Hance Clarke (Staff Anesthesiologist, Director Pain Services, Director Good Hope Ehlers Danlos Clinic, Medical Director of The Pain Research Unit, Department of Anesthesia and Pain Management, Toronto General Hospital, University Health Network, Associate Professor, Department of Anesthesia, University of Toronto). Over 1,000 participants attended the symposium.
The Company announced on September 14, 2020 that through Avicanna LATAM S.A.S., the Company’s pharmacy in Bogota has been certified with Good Preparation Practices and authorized by INVIMA for the sale of compounded pharmaceutical products to service medical prescriptions of individual patients in Colombia. This is the final step in the Company’s fully integrated seed to patient business model in Colombia, which includes cultivation, extraction and manufacturing of pharmaceutical products for the emerging medical market of 50 million people.
Avicanna announced on July 24, 2020 that its research collaborators had received two independent peer-reviewed grants from the Natural Sciences and Engineering Research Council of Canada (“NSERC”). In addition to a recent MITACS award, Dr. Christine Allen, a Professor at the University of Toronto, was awarded an NSERC grant for development of cannabinoid-based pharmaceutical formulations for the treatment of COVID-19 induced lung inflammation. Avicanna further expanded its existing neurobiological research collaboration with Dr. Jibran Khokhar, a Professor at the University of Guelph, with a 2-year NSERC grant to investigate the neural basis of cannabis-induced toxicosis. The NSERC grants are being used to expand the investigators’ collaborative research with Avicanna at little to no additional cost to the Company.
Avicanna and Red White & Bloom Brands Inc. (“RWB”) entered into a distribution agreement (the “Distribution Agreement”) on August 11, 2020, for the exclusive distribution of Avicanna’s hemp-based CBD derma-cosmetic and topical products, branded as Pura H&W™, by RWB in the United States and certain other markets. Under the Distribution Agreement, which has an initial five-year term, RWB will exclusively distribute the Pura H&W™ brand and certain other white label brands at RWB’s direction. In exchange for this exclusivity, RWB is required to pay Avicanna an upfront exclusivity fee in the amount of CAD$250,000 in cash, along with minimum purchase requirements for the rights to be the exclusive distributor of Avicanna’s Pura H&W branded cosmetic products in the US. Under the Distribution Agreement, RWB also has the right to purchase Avicanna’s cosmetic products for distribution into the United States and certain other territories under brands of RWB’s choosing. The initial product offerings under the Distribution Agreement includes body and face lotions, cosmetic creams, gels and serums, as well as soaps and bath bombs.
The Company issued an aggregate of 1,952,410 units (the “August Units”) at a price of $1.40 per August Unit, for aggregate gross proceeds of approximately $2.7 million on August 18, 2020. Each August Unit was comprised of one Common Share and one-half of one Common Share purchase warrant, each whole warrant exercisable into one Common Share at a price of $2.00 per share until August 18, 2022, subject to acceleration rights.
The Company announced on August 24, 2020 that it completed exports of CBG and CBD isolates into the USA and CBD isolate into Germany. The Company also commenced a pilot tracking system for the export of its active pharmaceutical ingredient products in partnership with TruTrace Technologies Inc.
The Company announced on September 4, 2020 that it completed further exports of CBD water soluble formula into the USA and CBD-based cosmetics into the United Kingdom. The Colombian Ministry of Health also granted SMGH a commercial and industrial fabrication quota to produce psychoactive THC derivatives.
The Company announced that it entered into an agreement with a US distributor partner on September 29, 2020, whereby the Company plans to develop certain hemp-derived cannabinoid-based products, including sublingual and sustained release tablets intended for the sleep market for such US distributor. Under the agreement, the Company is developing the intellectual property that forms the basis of the products for a development fee. The Company will receive an ongoing royalty payment based on the gross revenue of the products, and the Company will have the opportunity to supply cannabinoid for the manufacture of the products.
During the quarter, the Company incurred general and administrative (G&A”) expenses that total $2,954,438. While the Company’s G&A expenses did marginally increase from the previous quarter, there were several expenses incurred that were one time in nature. Below is a summary of the adjusted EBITDA of the Company over the last four quarters, indicating its continued improvement.
Q1 2020
Q2 2020
Q3 2020
Revenue
260,903
709,468
881,956
Adjusted EBITDA*
(3,063,524)
(3,641,496)
(2,608,063)
* Adjusted EBITDA is a Non-GAAP measure. Please refer below for a reconciliation of Net Income (Loss) to EBITDA and Adjusted EBITDA.
Subsequent to quarter end, on November 2, 2020, the Company closed a non-brokered convertible debenture financing, pursuant to which it issued convertible debentures (the “Debentures”) with an aggregate Face Principal Amount (as defined below) of $1,100,000 (the “Debenture Financing”). The Debentures bear interest at 8.0% per annum and will mature on the date that is 12 months from the date of issuance, with the first year of interest payable in advance on the date of issuance and capitalized and added into the principal amount (such aggregate amount being, the “Face Principal Amount”). With these funds the Company was able to strengthen its balance sheet and provide the necessary working capital to make a large commercial push in the first quarter of 2021.
Summary of Operations ($CDN)
Three Months Ended
Nine Months Ended
September 30, 2020
September 30, 2019
September 30, 2020
September 30, 2019
$
$
Revenues
881,956
4,943
1,852,327
45,537
Impairment on inventory
(612,105)
–
(612,105)
–
Inventory Production Costs expensed to Cost of Sales
(439,099)
–
(673,387)
–
Fair value changes in biological assets included in inventory sold
(37,818)
–
(607,370)
–
Unrealized gain/(loss) on changes in fair value of biological assets
(1,103,910)
–
723,361
–
General and administrative
2,954,438
5,673,540
9,064,843
12,604,022
Share-based compensation
839,954
262,498
2,455,916
1,982,066
Depreciation and amortization
419,914
326,983
1,259,742
512,100
Impairment of goodwill
2,520,382
–
3,207,227
Total Expenses
(6,734,688)
(6,263,021)
(15,987,728)
(15,098,188)
Other income (loss)
378,512
72,748
(2,117,968)
473,646
Net loss before taxes
(7,667,152)
(6,185,330)
(17,422,870)
(14,579,005)
Net loss after taxes
(7,667,152)
(6,185,330)
(17,422,870)
(14,579,005)
Weighted average number of Common Shares outstanding – basic and diluted
26,566,915
21,830,153
25,348,330
19,298,899
Loss per share – basic and diluted
(0.35)
(0.33)
(0.82)
(0.84)
Summary of Balance Sheet ($CDN)
As at September 30,2020
As at December 31,2019
Assets
$
$
Cash
101,088
441,757
Amounts receivable
2,442,488
1,202,924
Prepaid assets
652,287
704,632
Biological assets
233,644
117,367
Inventory
2,084,414
1,484,371
Right to use asset
392,516
539,710
Property and equipment
19,951,265
22,622,322
Intangible assets
10,504,182
11,063,900
Derivative asset
1,501,034
3,780,000
Investments
72
72
Goodwill
–
3,207,227
Total Assets
37,862,990
45,164,282
Liabilities and Equity
Amounts payable
4,815,132
5,177,634
Due to related party
4,952,124
3,319,116
Convertible debentures
757,400
715,626
Derivative liability
–
23,434
Lease liability
417,975
555,339
Term loan
–
–
Deferred revenue
3,074,752
3,323,518
Deferred tax liability
2,173,834
2,173,834
Total Liabilities
16,191,217
15,288,501
Shareholder’s equity
21,671,773
29,875,781
Total Liabilities and Shareholder’s Equity
37,862,990
45,164,282
About Avicanna
Avicanna is a diversified and vertically integrated Canadian biopharmaceutical company focused on the research, development and commercialization of plant-derived cannabinoid-based products for the global consumer, medical, and pharmaceutical market segments.
Avicanna is an established leader in cannabinoid research and development, which it primarily conducts at its R&D headquarters in the Johnson & Johnson Innovation Centre, JLABS @ Toronto, Canada and in collaboration with leading Canadian academic and medical institutions. In addition to its developing pharmaceutical pipeline, Avicanna’s team of experts have developed and commercialized several industry leading product lines, including:
Pura H&W: an advanced and clinically tested line of CBD consumer dermacosmetic products; and,
RHO Phyto: an advanced line of medical cannabis products containing varying ratios of CBD and THC currently available nation-wide across Canada in partnership with Medical Cannabis by Shoppers™, a subsidiary of Shoppers Drug Mart. RHO Phyto is the first strictly medical formulary of advanced “Cannabis 2.0” products, containing oils, sprays, capsules, creams, and gels, all developed with scientific rigour, manufactured under GMP standards and supported by pre-clinical data.
With ongoing clinical trials on its dermacosmetic (Pura H&W), medical cannabis (RHO Phyto) and a pipeline of pharmaceutical products, Avicanna’s dedication to researching the important role that cannabinoids play in an increasingly wider scope of products has been at the core of the Company’s vision since its inception. Furthermore, Avicanna’s commitment to education is demonstrated through its annual medical symposium, the Avicanna Academy educational platform, and the My Cannabis Clinic patient program through its subsidiary company.
Avicanna manages its own supply chain including cultivation and extraction through its two majority-owned subsidiaries, Sativa Nativa S.A.S. and Santa Marta Golden Hemp S.A.S., both located in Santa Marta, Colombia. Through these sustainable, economical, and industrial scale subsidiaries, Avicanna cultivates, processes, and commercializes a range of cannabis and hemp cultivars dominant in CBD, CBG, THC, and other cannabinoids for use as active pharmaceutical ingredients. Avicanna’s Avesta Genetica program specializes in the development and optimization of rare cultivars for commercial production along with feminized seeds for global export. In June 2020, Avicanna made history with a shipment of hemp seeds to the United States of America by completing the first ever export of hemp seeds from Colombia.
SOURCE Avicanna Inc.
Stay Connected
For more information about Avicanna, visit www.avicanna.com, call 1-647-243-5283, or contact Setu Purohit, President by email at [email protected].
Cautionary Note Regarding Forward-Looking Information and Statements
This press release contains certain “forward-looking information” within the meaning of applicable Canadian securities legislation (each such statement a “forward-looking statement”). Such forward-looking statements are not representative of historical facts or information or current condition, but instead represent only Avicanna’s current beliefs and assumptions regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Avicanna’s control. Generally, such 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, the Company’s revenues to continue to increase through fiscal 2021, the Company’s anticipated activities and results of its various commercial initiatives, its availability and sufficiency of working capital, the anticipated growth of the Company’s business in the first quarter of 2021 and the anticipated further development and improvement of products by the Company.
By identifying such information and statements in this manner, Avicanna 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 Avicanna to be materially different from those expressed or implied by such information and statements. In addition, in connection with the forward-looking statements contained in this press release, Avicanna has made certain assumptions.
Among others, the key factors that could cause actual results to differ materially from those projected in the forward-looking information and statements are the following: decreases in the prevailing prices for cannabis and cannabis products in the markets in which the Company operates; adverse changes in applicable laws; adverse changes in the application or enforcement of current laws, including those related to taxation; increasing costs of compliance with extensive government regulation; changes in general economic, business and political conditions, including changes in the financial markets ; risks related to licensing, including the ability to obtain the requisite licenses or renew existing licenses for the Company’s existing and proposed operations; dependence upon third party service providers, skilled labor and other key inputs; risks inherent in the agricultural and retail business; intellectual property risks; risks related to litigation; dependence upon senior management; and the other risks disclosed in the Company’s long form final prospectus dated July 8, 2019 and the Company’s annual information form dated April 15, 2020. 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 Avicanna believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking statements are reasonable, undue reliance should not be placed on such statements, and no assurance or guarantee can be given that such forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.
Posted by AGORACOM-JC
at 8:14 AM on Thursday, November 12th, 2020
Kontrol BioCloud a Safe Space Technology™
Received UL standards approval for its BioCloud® technology
As referenced in the press release dated November 5th, 2020, Kontrol has previously received CSA standards approval and has now received UL standards approval.
“We continue to execute on the important milestones for commercialization of BioCloud,” says Paul Ghezzi, CEO of Kontrol. “With CSA and UL we now have standards approval that covers Canada, the United States and various other global regions. We continue to work towards CE standards certification which is primarily for the European market.”
TORONTO, ON / November 12, 2020 / Kontrol Energy Corp. (CSE:KNR)(OTCQB:KNRLF)(FSE:1K8) (“Kontrol” or “Company“) is pleased to announce that it has received UL standards approval for its BioCloud® technology. As referenced in the press release dated November 5th, 2020, Kontrol has previously received CSA standards approval and has now received UL standards approval.
“We continue to execute on the important milestones for commercialization of BioCloud,” says Paul Ghezzi, CEO of Kontrol. “With CSA and UL we now have standards approval that covers Canada, the United States and various other global regions. We continue to work towards CE standards certification which is primarily for the European market.”
Field Certification was provided by ESAFE
Underwriters’ Laboratories or UL regulations require manufacturers of products sold in the United States to receive UL Standards approval for electrical safety.
ESAFE is accredited by the Standards Council of Canada (SCC), as an Inspection Body (ISO 17020) and Certification Body (ISO 17065). As an accredited agency, ESAFE is authorized to approve and label equipment for electrical safety.
BioCloud® is a real-time analyzer designed to detect airborne viruses. It has been designed to operate as a safe space technology by sampling the air quality over time. With a proprietary detection chamber that can be replaced as needed, viruses are detected, and an alert system is created in the Cloud or over local intranet. BioCloud® has been designed for spaces where individuals gather including classrooms, retirement homes, hospitals, mass transportation and others
BioCloud® is not a medical device and the Company is not making any express or implied claims that its product has the ability to eliminate, cure or contain the COVID-19 (or SARS-2 Coronavirus).
About Kontrol Energy
Kontrol Energy Corp. (CSE: KNR) (OTCQB: KNRLF) (FSE: 1K8) is a leader in the energy efficiency sector through IoT, Cloud and SaaS technology. With a disciplined mergers and acquisition strategy, combined with organic growth, Kontrol Energy Corp. provides market-based energy solutions to our customers designed to reduce their overall cost of energy while providing a corresponding reduction in greenhouse gas (GHG) emissions.
For further information, contact:
Paul Ghezzi, Chief Executive Officer [email protected] or [email protected] Kontrol Energy Corp., 180 Jardin Drive, Unit 9, Vaughan, ON L4K 1X8 Tel: 905.766.0400, Toll free: 1.844.566.8123
Neither IIROC nor any stock exchange or other securities regulatory authority accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains “forward-looking information” within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as “may”, “will”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “believe” or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions “may” or “will” happen, or by discussions of strategy.
Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is based on assumptions made in good faith and believed to have a reasonable basis. Such assumptions include, without limitation, that sufficient capital will be available to the Company and that technology will be as effective as anticipated.
However, forward-looking statements are subject to risks, uncertainties, and other factors, which could cause actual results to differ materially from future results expressed, projected, or implied by such forward-looking statements. Such risks include, but are not limited to, that sufficient capital and financing cannot be obtained on reasonable terms, or at all, that technologies will not prove as effective as expected, that customers and potential customers will not be as accepting of the Company’s product and service offering as expected, and government and regulatory factors impacting the energy conservation industry. In particular, successful development and commercialization of the Kontrol BioCloud Analyzer (BioCloud®) are subject to the risk that the Kontrol BioCloud Analyzer may not prove to be successful in detecting the virus that causes COVID-19 effectively or at all, uncertainty of timing or availability of any regulatory approvals and Kontrol’s lack of track record in developing products for medical applications.
Accordingly, undue reliance should not be placed on forward-looking statements and the forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement. The forward-looking statements contained herein are made as at the date hereof and are based on the beliefs, estimates, expectations, and opinions of management on such date. Kontrol does not undertake any obligation to update publicly or revise any such forward-looking statements or any forward-looking statements contained in any other documents whether as a result of new information, future events or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required under applicable securities law. Readers are cautioned to consider these and other factors, uncertainties, and potential events carefully and not to put undue reliance on forward-looking information.
Posted by AGORACOM-JC
at 7:39 AM on Thursday, November 12th, 2020
Announced that its Cubeler Lending Hub commercial lending platform has facilitated the first transactions related to a program created by the Company and consumer electronics wholesale distributor Beijing Dianjing Company Ltd. (“BDC”) to bring financing solutions to BDC’s 60,000 online retail clients
Newly-created purchase order financing program allows BDC’s clients, who collectively sell about CAD$50B worth of consumer electronics per year, to have up to 90% of the price of the products they purchase financed by any bank or lending institution represented on the Lending Hub.
Purchase orders for iPhones totalling a combined 48M RMB (about CAD$9.5M) coming from four JD.com (www.jd.com) affiliated stores were the first orders approved for funding through the program
\Montreal, Quebec–(November 12, 2020) – Peak Positioning Technologies Inc. (CSE: PKK) (OTCQX: PKKFF) (“Peak” or the “Company”), an innovative Fintech service provider to the Chinese commercial lending sector, today announced that its Cubeler Lending Hub commercial lending platform has facilitated the first transactions related to a program created by the Company and consumer electronics wholesale distributor Beijing Dianjing Company Ltd. (“BDC”) to bring financing solutions to BDC’s 60,000 online retail clients.
The newly-created purchase order financing program allows BDC’s clients, who collectively sell about CAD$50B worth of consumer electronics per year, to have up to 90% of the price of the products they purchase financed by any bank or lending institution represented on the Lending Hub.
Purchase orders for iPhones totalling a combined 48M RMB (about CAD$9.5M) coming from four JD.com (www.jd.com) affiliated stores were the first orders approved for funding through the program. The platform collected a fee equivalent to 2% of the annualized interest rate charged by the lender to finance the orders. The financing program was expected to start in early December, but pressing demand from the stores led Peak and BDC to take special measures to allow for these first transactions to be processed while the program is still undergoing minor adjustments.
“Our market research showed that there would be strong demand from online retailers for Lending Hub’s services, but we weren’t expecting to have to start the program almost a full month ahead of schedule,” commented Peak Group China CEO, Mr. Liang Qiu. “Retailers continuously buy and sell inventory and thus have an ongoing need for credit, a need that wasn’t properly addressed until today. We created a program that uses AI and analytics to help retailers buy more products from wholesalers, and are working with some of the country’s largest wholesale distributors to expand it nationwide. I think we have a unique opportunity here to positively impact a large segment of China’s CAD$6.5 trillion annual retail market. This is yet another way in which we believe we can accelerate the proliferation of the Lending Hub to every part of the country.”
About Peak Positioning Technologies Inc.:
Peak Positioning Technologies Inc. is the parent company of a group of innovative financial technology (Fintech) subsidiaries operating in China’s commercial lending industry. Peak’s subsidiaries use technology, analytics and artificial intelligence to create an ecosystem of lenders, borrowers and other participants in China’s commercial lending space where lending operations are conducted rapidly, safely, efficiently and with the utmost transparency. For more information: http://peakfintechgroup.com/.
For more information, please contact:
CHF Capital Markets Cathy Hume, CEO 416-868-1079 ext.: 251 [email protected]
Peak Positioning Technologies Inc. Johnson Joseph, President and CEO 514-340-7775 ext.: 501 [email protected]
This news release may include certain forward-looking information, including statements relating to business and operating strategies, plans and prospects for revenue growth, using words including “anticipate”, “believe”, “could”, “expect”, “intend”, “may”, “plan”, “potential”, “project”, “seek”, “should”, “will”, “would” and similar expressions, which are intended to identify a number of these forward-looking statements. Forward-looking information reflects current views with respect to current events and is not a guarantee of future performance and is subject to risks, uncertainties and assumptions. The Company undertakes no obligation to publicly update or review any forward-looking information contained in this news release, except as may be required by applicable laws, rules and regulations. Readers are urged to consider these factors carefully in evaluating any forward-looking information.
