Posted by AGORACOM-JC
at 7:00 PM on Sunday, November 15th, 2020
The paradigm shifting, parabolic growth of plant based foods and a plant based life is unstoppable, with the plant-based food market alone expected to reach $74.2 billion by 2027.
Plant Based Essentials …. Like Chocolate (Essential? You Bet)
And …… Plant Based …. PLANTS (It’s A BIG Business!)
More than just talk, VEGA is already in full swing and growing FAST
Already Operating In Canada
US Online Operations Kick Off With $USD 25M MIN of PlantX products YEAR 1
6% Royalty Fee to PlantX on gross USA revenues
US Bricks & Mortar with San Diego flagship store opening in DECEMBER
Agreement already signed with a major construction company to build the flagship + franchises across North America
AND ….. The recent £8 million Acquisition of Bloombox In The UK, generating millions in revenue
If you believe in the paradigm shifting nature of plant based foods and more, be sure to watch and share this great interview with PlantX CEO Julia Frank.
Posted by AGORACOM-JC
at 12:05 PM on Friday, November 13th, 2020
Company intends to issue the Units at a price of $0.85 per Unit for gross proceeds of a minimum of $5,000,000 and a maximum of $7,000,000 . 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 at a price of $1.20 per share at any time for a period of 36 months following closing of the Offering.
TORONTO , Nov. 13, 2020 – Avicanna Inc. (” Avicanna “, or the ” Company “) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN) is pleased to announce that it has priced its previously announced marketed public offering (the ” Offering “) of units (the ” Units “) of the Company. The Company intends to issue the Units at a price of $0.85 per Unit for gross proceeds of a minimum of $5,000,000 and a maximum of $7,000,000 . 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 a price of $1.20 per share at any time for a period of 36 months following closing of the Offering.
The Offering is being 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 on a “best efforts” basis through the Agents (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.
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 11:45 AM on Friday, November 13th, 2020
FansUnite Entertainment (FANS: CSE) (FUNFF:OTC)UK Sportsbook set company records with triple-digit growth in multiple areas, led by a 433% increase in overall revenue compared to October 2019 and a total Gross win of $602K CAD during the month. Much of the growth was attributed to McBookie’s live casino games and increased activity in sports betting which resulted in $7.3M in total betting volume being placed during the month.
Posted by AGORACOM-JC
at 7:30 AM on Friday, November 13th, 2020
Kai Medical Laboratory, a state-of-the-art diagnostics laboratory in Dallas, was acquired by Empower Clinics on October 6, 2020 to further advance the Company’s COVID-19 national testing programs for enterprise clients, including movie and television studios, businesses and colleges
KAI testing volume of 1,375 units in October represents a sequential increase of 763% over testing volume in September of 180 units.
Moreover, the increase comes from only a partial month of control under Empower given the acquisition of KAI was only completed on October 6, 2020.
Finally, given the very recent closing of the acquisition, the record October results were achieved without the benefit of Empower’s planned sales, marketing and rollout plans for KAI.
VANCOUVER, BC / November 13, 2020 / EMPOWER CLINICS INC. (CSE:CBDT)(Frankfurt:8EC)(OTCQB:EPWCF) (“Empower” or the “Company“) an integrated healthcare company serving a database of 165,000 patients through clinics in the southwest United States, a telemedicine platform and medical diagnostics laboratory, is pleased to announce that Kai Medical Laboratory (“KAI”) has achieved record testing volume for the month of October with 1,375 units processed.
RECORD ACHIEVED IN PARTIAL FIRST MONTH UNDER EMPOWER CLINICS
KAI testing volume of 1,375 units in October represents a sequential increase of 763% over testing volume in September of 180 units. Moreover, the increase comes from only a partial month of control under Empower given the acquisition of KAI was only completed on October 6, 2020. Finally, given the very recent closing of the acquisition, the record October results were achieved without the benefit of Empower’s planned sales, marketing and rollout plans for KAI.
Empower Clinics Chairman and CEO, Steven McAuley, stated “The magnitude of KAI’s growth and success in October cannot be overstated as an example of what is to come. This is especially true given the fact we have yet to fully implement the sales and marketing strategies planned for KAI as we expand our national testing programs for enterprise level clients across America. Though we are very pleased with the results achieved in October, the testing volume of 1,375 units represents a fraction of the lab’s capacity which is capable of achieving 4,000 COVID-19 RT-PCR tests per day. It is our intention to continue ramping up growth significantly through 2020 and well into 2021.”
GROWTH STRATEGIES & NUMEROUS NEW COMMERCIAL TESTING CONTRACTS
The Company is now working through integration and implementing aggressive growth strategies including servicing new COVID-19 testing contracts for the film & television industry, banks, restaurants, tourism and supporting the Sun Valley Health COVID-19 RT-PCR and rapid antibody testing programs in the state of Arizona.
To this end, on October 7th, Empower announced it had commenced COVID-19 RT-PCR tests for a major studio film & television production. On October 19th, Empower announced a partnership with Loop Insights to provide the first ever “travel bubble” solution for the global travel industry.
Finally, Empower has signed numerous new commercial testing contracts, the details of which will be provided in subsequent press releases.
To further assist with COVID-19 testing, Kai Medical Laboratory has also developed two key programs in Texas and Arizona. The first program is a direct-to-consumer program that leverages the ability of various healthcare providers to order and administer both the RT-PCR test and the Antibody test. This increases the ability of the general population to be tested, in certain circumstances. The second is an Employer COVID-19 Compliance Program (ECCP) for business owners and employer groups to enable them to test and monitor their employees.
The combination of all this commercial activity since the October 6th acquisition provides the Company with the confidence necessary to support the expectation of much further growth in the months to come.
COVID-19 RT-PCR TESTING IS THE GOLD STANDARD THAT ALLOWS EMPOWER TO ROLL OUT NATIONAL PHASE 4 TESTING PROGRAMS
KAI Medical Laboratory operates a high-complexity CLIA and COLA accredited laboratory that provides reliable and accurate testing solutions to hospitals, medical clinics, pharmacies, and employer groups. KAI has taken an active role in COVID-19 testing, battling the pandemic through RT-PCR testing and serology testing with the capacity to process 4,000 RT-PCR test specimens per day. While the RT-PCR test identifies if a patient has an active virus, the serology or antibody test detects if a patient has previously been exposed to the virus. Both of these test results are vital to managing outbreaks and the potential spread of coronavirus.
As a result of this capability, Empower is now able to expand phase four of its COVID-19 testing rollout which was first announced on April 27, 2020 beginning with testing in-clinic testing (Phase 1) and culminating with a nationwide roll-out across the United States (Phase 4). Phase 4 allows Empower to service enterprise level clients, including movie and television studios that require reliable, accurate, fast and mass batch testing capabilities in order to resume production in a safe and compliant manner.
The Company has also granted an aggregate of 1,079,666 stock options (each, an “Option“) to certain key employees of the Company in accordance with the Company’s stock option plan priced at $0.05 CAD and 1,500,000 Options priced at $0.08 CAD to an investor relations service provider.
This press release is available on the Empower Clinics Verified Forum on AGORACOM for shareholder discussion, questions and engagement with management https://agoracom.com/ir/EmpowerClinics
ABOUT EMPOWER
Empower is creating a network of physicians and practitioners who integrate to serve patient needs, in-clinic, through telemedicine, and with decentralized mobile delivery. A simplified, streamlined care model bringing key attributes of the healthcare supply chain together, always focused on patient experience. The Company provides COVID-19 testing services to consumers and businesses as part of a four-phased nationwide testing initiative in the United States. Empower recently acquired Kai Medical Laboratory, LLC as a wholly owned subsidiary with large-scale testing capability.
This news release contains certain “forward-looking statements” or “forward-looking information” (collectively “forward looking statements”) within the meaning of applicable Canadian securities laws. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Forward-looking statements can frequently be identified by words such as “plans”, “continues”, “expects”, “projects”, “intends”, “believes”, “anticipates”, “estimates”, “may”, “will”, “potential”, “proposed” and other similar words, or information that certain events or conditions “may” or “will” occur. Forward-looking statements in this news release include, but are not limited to, statements regarding: the expected benefits to the Company and its shareholders as a result of the acquisition of Kai Medical Laboratory; the transaction terms; the expected number of clinics and patients following the closing; the future potential success of Kai Medical Laboratory, Sun Valley’s franchise model; the anticipated date of closing of the acquisition and the occurrence thereof; and that the Company will be positioned to be a market-leading service provider for complex patient requirements in 2020 and beyond. Such statements are only projections, are based on assumptions known to management at this time, and are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the forward-looking statements, including: that the Kai Medical Laboratory acquisition may not be completed on the terms expected or at all; that the Company’s products may not work as expected; that the Company may not be able to expand COVID-19 testing; that legislative changes may have an adverse effect on the Company’s business and product development; that the Momentum Health acquisition may not be completed on the terms expected or at all; that the Company may not be able to obtain adequate financing to pursue its business plan; general business, economic, competitive, political and social uncertainties; failure to obtain any necessary approvals in connection with the proposed transaction; and other factors beyond the Company’s control. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. Readers are cautioned not to place undue reliance on the forward-looking statements in this release, which are qualified in their entirety by these cautionary statements. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements in this release, whether as a result of new information, future events or otherwise, except as expressly required by applicable laws.
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.
