Posted by AGORACOM-JC
at 6:49 PM on Sunday, April 5th, 2020
KABN Systems North America is in the business of verifying, managing and monetizing online Digital Identity.We’re inviting you to join our online “Ask Me Anything” event with the KABN Systems North America Team
KABN North America empowers users to verify, protect, manage and profit from their Digital Identity. With the recent changes to working, shopping, educating and playing from home, online usage and engagement is growing.
KABN’s business is:
About providing consumers with no-cost tools to manage their Digital Identity and profit from the public data.
Focused online making us Covid-19 resistant.
Relevant to 100% of the online, digital market.
Optimized for commercial partnerships in Financial Services, eCommerce, Education, Government, Healthcare, Technology, Gaming & more.
Built, scalable, proven and in market today.
Aligned with online revenue trends.
Run by a veteran team of successful industry leaders.
In process of a proposed RTO transaction for public listing.
Posted by AGORACOM-JC
at 12:19 PM on Saturday, April 4th, 2020
Immune Support product line has been received exceptionally well by consumers
The total number of customers acquired by First Class CBD in March 2020 is 20,959, including 6,419 immune customers
Initial average spend of Cdn$218.40 per customer
VANCOUVER, BC / April 4, 2020 Mota Ventures Corp. (CSE:MOTA)(FSE:1WZ1)(OTC:PEMTF) (the “Company” or “Mota“) is pleased to provide an update on the recent progress that is fueling the increase in sales for products under its First Class CBD brand. The Immune Support product line has been received exceptionally well by consumers since it launched on March 14, 2020 and has been a significant driver of growth in March. The total number of customers acquired by First Class CBD in March 2020 is 20,959, including 6,419 immune customers with an initial average spend of Cdn$218.40 per customer.
The Company will be launching a new brand, Nature’s Exclusive CBD on April 6, 2020. The new Nature’s Exclusive CBD brand will introduce a line of Immune Support and CBD products with a higher content of CBD. The Company also anticipates releasing March 2020 financial results for First Class CBD in the next few days.
“The month of March has been exceptional, with new customer signups exceeding expectations. We believe this is a testament to our ability to adapt to the fast-paced eCommerce sector and ability to identify upcoming trends in consumer demand. I am very excited with the rapid progress and look forward to releasing March results in the upcoming days,” stated Ryan Hoggan, CEO of the Company.
The initial average spend per customer was translated from US dollar into Canadian dollar using the Bank of Canada average exchange rate of 1.3953 for March 2020.
About Mota Ventures Corp.
Mota is an established eCommerce, direct to consumer provider of a wide range of CBD products in the United States and Europe. In the United States, the company sells a CBD hemp-oil formulation derived from hemp grown and formulated in the US through its First Class CBD and Nature’s Exclusive brands. Within Europe, its Satavida brand of award winning 100% organic CBD oils and cosmetics are sold throughout Spain, Portugal, Austria, Germany, France, and the United Kingdom. Mota Ventures is also seeking to acquire additional revenue producing CBD brands and operations in both Europe and North America, with the goal of establishing an international distribution network for CBD products. Low cost production, coupled with international, direct to customer, sales channels will provide the foundation for the success of Mota Ventures.
ON BEHALF OF THE BOARD OF DIRECTORS
MOTA VENTURES CORP. Ryan Hoggan Chief Executive Officer
For further information, readers are encouraged to contact Joel Shacker, President, at +604.423.4733 or by email at [email protected] or www.motaventuresco.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management.
All statements in this press release, other than statements of historical fact, are “forward-looking information” with respect to the Company within the meaning of applicable securities laws, including with respect to the anticipated launch of products under the First Class CBD brand, the financial results of First Class CBD, its plans to become a vertically integrated global CBD brand, its plans to cultivate and extract cannabis to produce CBD and high-quality value added CBD products in Latin America for distribution domestically and internationally. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited those identified and reported in the Company’s public filings under the Company’s SEDAR profile at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
Posted by AGORACOM-JC
at 7:33 AM on Friday, April 3rd, 2020
Completed an interactive COVID-19 dashboard to help with the understanding of the danger of this virus, and to monitor the global impact of COVID-19
The dashboard was built to incorporate data that has been collected from various countries and organizations including World Health Organization
TORONTO, April 03, 2020 – Datametrex AI Limited(the “Company†or “Datametrexâ€) is pleased to announce that it has completed an interactive COVID-19 dashboard to help with the understanding of the danger of this virus, and to monitor the global impact of COVID-19. The dashboard was built to incorporate data that has been collected from various countries and organizations including World Health Organization (“WHOâ€). It is analyzed and presented in a user-friendly format which allows users to easily examine the spread of COVID-19 globally, by country or to compare various countries.
http://www.datametrex.com/covid-board.html
“As an AI company, we felt it important to provide access to a platform like this so people can see the real time effects of the COVID-19 pandemic. We’ve had a lot of interest from people looking for more data surrounding the Coronavirus and COVID-19 as a result of the work we are doing for the United States Government. It was from this that we decided to build a user friendly dashboard that allows people to see the global impact. We produce more than just reports,†says Marshall Gunter, CEO of the Company.
About Datametrex AI Limited
Datametrex AI Limited is a technology focused company with exposure to Artificial Intelligence and Machine Learning through its wholly owned subsidiary, Nexalogy (www.nexalogy.com).
Additional information on Datametrex is available at: www.datametrex.com
For further information, please contact:
Marshall Gunter – CEO Phone: (514) 295-2300 Email: [email protected]
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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.
Readers are cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking information. The forward-looking information contained herein is made as of the date of this press release and is based on the beliefs, estimates, expectations and opinions of management on the date such forward-looking information is made. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
Posted by AGORACOM-JC
at 7:38 AM on Thursday, April 2nd, 2020
LOTTE has chosen the Company to be one of its preferred vendor partners
Every year LOTTE chooses 10 of its top vendor companies to put on their preferred partners program
Vendors on this platform have demonstrated quality, reliability and trustworthiness.
TORONTO, April 02, 2020 — Datametrex AI Limited (the “Company†or “Datametrexâ€) is pleased to share that LOTTE has chosen the Company to be one of its preferred vendor partners.
Every year LOTTE chooses 10 of its top vendor companies to put on their preferred partners program. Vendors on this platform have demonstrated quality, reliability and trustworthiness. Once on this platform, a company can receive payments in full for contracts within two weeks of a purchase order. For companies that are part of the preferred vendor group, LOTTE has created a growth fund of approximately $200M USD. This fund is used to create joint venture (JV’s) companies with preferred vendors or to co-bid on contracts of significant size as a way to sponsor their preferred vendors.
In addition to creating JV’s, LOTTE also offers its preferred partners loans bearing minimal interest rates to support their growth. The current rate at approximately 3%. Datametrex is pleased to share that it is currently in the process of creating a JV with LOTTE for Government related contracts. As a direct benefit of Datametrex inclusion in this program, the Company is eligible to borrow up to $500,000 CAD per quarter.
“Being chosen to participate in the preferred vendor program with LOTTE is a validation of the quality of work our team is providing to LOTTE. It also assists greatly with cash flow and the fact that we can apply for such a low interest rate loan removes any financing risk for the Company,†says Marshall Gunter, CEO of the Company.
About Datametrex AI Limited
Datametrex AI Limited is a technology focused company with exposure to Artificial Intelligence and Machine Learning through its wholly owned subsidiary, Nexalogy (www.nexalogy.com). Additional information on Datametrex is available at: www.datametrex.com
For further information, please contact:
Marshall Gunter – CEO Phone: (514) 295-2300 Email: [email protected]
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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.
Readers are cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking information. The forward-looking information contained herein is made as of the date of this press release and is based on the beliefs, estimates, expectations and opinions of management on the date such forward-looking information is made. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
Posted by AGORACOM-JC
at 5:13 PM on Wednesday, April 1st, 2020
When US Government Agencies call you in the middle of the greatest health and economic crisis in 100 years, it is safe to assume your Artificial Intelligence capabilities to detect fake news, disinformation campaigns and their impact is amongst the most respected in the world.
You would expect such a company to be a tech giant or a Silicon Valley project. But Datametrex AI (DM: TSXV) (Soon To Be Nexaology) is a great Canadian small cap technology company, that has also achieved the following as of late:
Q3 Revenues Of $1.6 million, an increase of 186%
9 Mont Revenues Of $2.56M an increase of 37%
Repeat Contracts Of $1M and $600,000 With Korean Giant LOTTE
$954,000 Contract With Canadian Department of Defence To Fight Social Media Election Meddling
Participation In NATO Research Task Group On Social Media Threat Detection
Becoming an affiliate member of the Carnegie Mellon University Center for IDeaS
When a small cap Artificial Intelligence company is successfully deploying its technology with military and conglomerates, smart investors have to take a closer look.
That look can begin with our latest interview of Datametrex CEO, Marshall Gunter, who talks to us about the use of the Company’s Artificial Intelligence by US Government Agencies to detect misinformation campaigns against the United States by foreign entities.
Watch this interview on one of your favourite screens or hit play and listen to the audio as you drive.
Posted by AGORACOM-JC
at 7:29 AM on Wednesday, April 1st, 2020
Work done for the United States Government clearly identifies attempts by Chinese authorities to create a divide amongst Americans on how the administration and Trump are handling #COVID19
TORONTO, April 01, 2020 — Datametrex AI Limited (the “Company†or “Datametrexâ€) is pleased to share a summary of the work done for the United States Government and a link to the report which clearly identifies attempts by Chinese authorities to create a divide amongst Americans on how the administration and Trump are handling #COVID19. This work was commissioned by an agency for the United States Government and involved collecting and analyzing a massive amount of social media data. Â
Datametrex examined millions of social media documents over the last month tracking Chinese involvement in the online discussions surrounding the COVID-19 and coronavirus. Datametrex found significant attempts by both Chinese authorities and news agencies to manipulate the media and shift the blame for the COVID-19 outbreak to the United States. Additional attempts at media manipulation and narrative shaping included attempts to frame dialogue from US President Trump as racist and show the Trump administration as an impediment to the worldwide recovery from the pandemic while framing Chinese President Xi as a strong leader on the world stage.
“We are thrilled to be working with the US Government on this very serious topic, this report goes to show that social media warfare goes beyond attempts to tamper with elections as we clearly identified during the Canadian Federal Elections. The Company is open for business in the US and we look forward to working with more government agencies and corporate clients on disinformation, propaganda, fake news in social media,†says Marshall Gunter, CEO of the Company
Datametrex AI Limited is a technology focused company with exposure to Artificial Intelligence and Machine Learning through its wholly owned subsidiary, Nexalogy (www.nexalogy.com). Additional information on Datametrex is available at: www.datametrex.com
For further information, please contact:
Marshall Gunter – CEO Phone: (514) 295-2300 Email: [email protected]
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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.
Readers are cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking information. The forward-looking information contained herein is made as of the date of this press release and is based on the beliefs, estimates, expectations and opinions of management on the date such forward-looking information is made. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
Posted by AGORACOM-JC
at 7:21 AM on Wednesday, April 1st, 2020
Announced that patient visits in corporate clinics increased by 593%% in March 2020 versus the same period in 2019,
total patient visits of 2,160 in March 2020 compared to 364 in March 2019
1Q 2020 patient visits increased by 478% versus the same period 2019, with total patient visits of 5,717 in 1Q 2020 compared to 1,196 in 1Q 2019.
VANCOUVER, BC / April 1, 2020 / EMPOWER CLINICS INC. (CSE: CBDT) (OTC: EPWCF) (Frankfurt 8EC) (“Empower” or the “Company”), a vertically integrated and growth-oriented life sciences company, is pleased to announce that patient visits in corporate clinics increased by 593%% in March 2020 versus the same period in 2019, with total patient visits of 2,160 in March 2020 compared to 364 in March 2019.
1Q 2020 patient visits increased by 478% versus the same period 2019, with total patient visits of 5,717 in 1Q 2020 compared to 1,196 in 1Q 2019.
“These are unprecedented times, yet our team members remain dedicated to supporting patients every day, at record levels, using new operational techniques and safety protocols” said Steven McAuley, Chairman & CEO of Empower. “I am so proud of our management, our staff’s willingness to adjust to changing times, and our commitment to the daily needs of patients.”
The Company has also entered into to a new tele-medicine service agreement that will provide access to our physicians across multiple states, offering current and new modalities to existing and new patients. Additional announcements about the Company’s digital health initiatives will be forthcoming.
The Company has also issued a total of 600,000 stock options priced at $0.05 CAD to investor relation service providers and to a Director of the Company.
ABOUT EMPOWER
Empower is a vertically-integrated health & wellness brand with it’s first hemp-derived CBD extraction facility under development, the Company produces its proprietary line of cannabidiol (CBD) based products and distributes products through company owned and franchised clinics, with wholesale partnerships, online channels and with new retail opportunities nationwide in the U.S. The company is a leading multi-state operator of a network of physician-staffed wellness clinics, focused on helping patients improve and protect their health, through innovative physician recommended treatment options. The company has commenced activity on how to connect its significant data, to the potential of the efficacy of alternative treatment options related to hemp-derived cannabidiol (CBD) therapies.
For French inquiries: Remy Scalabrini, Maricom Inc., E: [email protected], T: (888) 585-MARI
DISCLAIMER FOR FORWARD-LOOKING STATEMENTS
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 statements regarding; the Company’s intention to open a hemp-based CBD extraction facility, the expected benefits to the Company and its shareholders as a result of the proposed acquisitions and partnerships; the effectiveness of the extraction technology; the expected benefits for Empower’s patient base and customers; the benefits of CBD based products; the effect of the approval of the Farm Bill; the growth of the Company’s patient list and that the Company will be positioned to be a market-leading service provider for complex patient requirements in 2019 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 Company may not open a hemp-based CBD extraction facility; that legislative changes may have an adverse effect on the Company’s business and product development; 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 acquisitions and partnerships; 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 1:52 PM on Monday, March 30th, 2020
Currently working with various agencies within the United States Government on the mass amount of social media surrounding #coronavirus and #covid19
First contract with clients is a pilot for $25,000 USD
It was signed on March 12th, 2020 and has a duration of one month
TORONTO, March 30, 2020 — Datametrex AI Limited (the “Company†or “Datametrexâ€) is pleased to share that Company is currently working with various agencies within the United States Government on the mass amount of social media surrounding #coronavirus and #covid19. We will provide greater detail on the work we are doing once it is completed and our clients approve it for public dissemination.Â
The Company wishes to provide further details to this release as
requested by IIROC. This first contract with our clients is a pilot for
$25,000 USD. It was signed on March 12th, 2020 and has a duration of one
month. The clients contacted Datametrex after witnessing the technology
at a NATO working group presentation highlighting Nexalogy’s work on
#fakenews and #disinformation in the Canadian Federal Elections. This
Pilot represents a major milestone for the Company as it is the natural
progression to potentially expand into the US market, specifically the
US Government.
“We are thrilled to be working with the US Government on this very important issue. We recently completed work for Democracy Labs on #disinformation in social media regarding #covid19 and #Coronavirus and secured a relationship with Carnegie Mellon University IDeaS.
Both announcements assisted in getting Nexalogy in front of the
Government Agencies for this current opportunity in the United States.
The solid foundation we have built over the past years with our Canadian
Government clients like DRDC, the Canadian Military and NATO have
positioned Datametrex to be able to provide military grade solutions for
todays social media challengesâ€, says Marshall Gunter CEO of Datametrex
AI.
About Datametrex AI Limited
Datametrex AI Limited is a technology focused company with exposure
to Artificial Intelligence and Machine Learning through its wholly owned
subsidiary, Nexalogy (www.nexalogy.com).
Additional information on Datametrex is available at: www.datametrex.com
For further information, please contact:
Marshall Gunter – CEO Phone: (514) 295-2300 Email: [email protected]
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this
release.
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.
Readers are cautioned to consider these and other factors,
uncertainties and potential events carefully and not to put undue
reliance on forward-looking information. The forward-looking information
contained herein is made as of the date of this press release and is
based on the beliefs, estimates, expectations and opinions of management
on the date such forward-looking information is made. The Company
undertakes no obligation to update or revise any forward-looking
information, whether as a result of new information, estimates or
opinions, future events or results or otherwise or to explain any
material difference between subsequent actual events and such
forward-looking information, except as required by applicable law.
Posted by AGORACOM-JC
at 9:21 AM on Monday, March 30th, 2020
At a time when established Cannabis stocks are struggling due to an inability to actually deliver real businesses, Hollister Biosciences (HOLL:CSE) has been quietly building a real business, products, revenue and customers in 220 of California’s 600 dispensaries …. and growing, including California’s #1 hash infused pre-roll “Hashbone”. Â
If that was all Hollister had going, they’d be in great shape with a super bright future and better than most Cannabis companies (small and large) who can’t even get product out the door. Â
BUT THERE’S MORE – THE $20,000,000 ACQUISITION THAT COMES WITH $CDN 16.4M REVENUE & $CDN 2.48M EBITDA Â
Hollister has closed their purchase of Venom Extracts, one of Arizona’s largest producers of Award-Winning Medical Cannabis Distillate. Just how good is Venom? In 2019, Venom generated $CDN 16.4M in revenue and $CDN 2.48M EBITDA in 2019 … and all of that was just from the state of Arizona. Â
In this amazing interview, Venom Founder Jake Cohen discusses Venom’s aggressive plans to expand its brand and success into other states, including California as it benefits from Hollister’s distribution into 220 dispensaries. Right now, some of you may be thinking, “yeah but everybody thinks they are going to expand” …. but Jake’s words, as well as those of Alex Somjen (President) and Carl Saling (CEO) are backed up by action.  Â
Specifically, a significant chunk of Venom’s acquisition shares kicks in if/when revenues hit $CDN 30,000 and $CDN 40,000 …. by December 31, 2021. In my experience, companies joining forces don’t include such terms if there isn’t a reasonable expectation for hitting those numbers. It doesn’t guarantee it but you can bet they have good reason to believe Venom sales will get to one or both of those numbers in just 21 months from now. Â
If you’re looking for Cannabis companies that are going to survive and thrive over this next decade, then grab your favourite beverage and watch this great interview with Carl Saling, Alex Somjen and Jacob Cohen.
Posted by AGORACOM-JC
at 7:18 AM on Monday, March 30th, 2020
This highly accretive acquisition strengthens Hollister’s brand portfolio and broadens its distribution footprint across multiple states positioning Hollister to transform into an industry leader in 2020 and beyond
Venom Extracts reports having generated over CDN$16.4 million in revenue and over CDN$2.5 million in EBITDA from its product line of cannabis concentrates and cartridges.Â
VANCOUVER, March 30, 2020Â –Hollister Biosciences Inc.(CSE: HOLL, FRANKFURT: HOB, OTC: HSTRF) (the “Company” or “Hollister“), a diversified cannabis branding company with products in 220 dispensaries throughout California, is pleased to announce that further to the signing of the definitive agreement, as amended (the “SEA“), the Company has now closed its transformational acquisition of Venom Extracts (“Venom Extracts“), a leading Arizona cannabis extract brand and one of the state’s largest producers of award-winning medical cannabis distillate and related products (the “Transaction“).
HIGHLY ACCRETIVE $20,000,000 ACQUISITION, ADDING OVER CDN$16.4 MILLION OF 2019 REVENUE
For the year ended December 31, 2019, management of Venom Extracts reports having generated over CDN$16.4 million in revenue and over CDN$2.5 million
in EBITDA from its product line of cannabis concentrates and
cartridges. Venom Extract’s management also reports a strong start to
2020 and is anticipating record Q1 revenue.
The all-stock purchase price of approximately CDN$20,000,000
represents a transaction multiple of 1.2x 2019 revenue, with
approximately 70% of the consideration paid upfront and the
approximately 30% balance to be paid upon milestone achievements related
to revenue targets for Venom Extracts, or in any event, on December 31, 2021. After conducting normal course due diligence, the Transaction closed effective March 24, 2020 (the “Closing Date“).
KEY TERMS OF THE TRANSACTION:
Pursuant to the terms of the SEA, the Company has acquired Venom Extracts for consideration of CDN$20,000,145.20 which is to be satisfied by the issuance of 70,390,672 Hollister common shares (the “Payment Shares“) on the Closing Date pro rata to the shareholders of Venom Extracts and an additional 29,610,054 common shares (the “Earn-Out Shares“)
to certain former shareholders of Venom Extracts on the earlier of (i)
Venom Extracts reaching certain revenue milestones (detailed below), or
(ii) December 31, 2021.
The Payment Shares and the Earn-Out Shares will be issued at a deemed value of CDN$0.20 per share;
The Payment Shares are subject to certain voluntary hold periods
with 90% of the Payment Shares being subject to hold periods as follows:
15% until May 25, 2020; and an additional 15% every six months until November 25, 2022;
The Earn-Out Shares will be issued on the earlier of (i) December 31, 2021, or (ii) when and if the following milestones have been met:
19,740,036 Earn-Out Shares will be issued when revenue of Venom Extracts reaches CDN$30,000,000 (calculated in accordance with IFRS from January 1, 2020); and
An additional 9,870,018 Earn-Out Shares will be issued when revenue of Venom Extracts reaches CDN$40,000,000 (calculated in accordance with IFRS from January 1, 2020).
“We are extremely pleased to complete this transformational and highly accretive acquisition”, shared Carl Saling, Founder and CEO of Hollister Biosciences Inc. “Our acquisition of Venom Extracts bolts on substantial revenue and EBITDA to Hollister, while providing Venom Extracts the ability to expand its offering of premium branded product into the California marketplace. Likewise, our acquisition also allows Hollister to introduce its products into the Arizona and Nevada marketplaces through Venom Extracts’ existing distribution channels.”
“This is an exciting acquisition and we are very pleased to announce closing”, shared Jacob Cohen, Founder of Venom Extracts. “This transaction represents the next step in ensuring the future growth of both Hollister and Venom Extracts. We are looking forward to increasing our geographic presence by expanding into the California marketplace through Hollister’s existing platform, and exploring expansion of our existing product portfolio collectively.”
In association with the acquisition, Hollister will not
be assuming any long-term debt, a new control position will be created
and there is no change in management, or the board of directors of Hollister being contemplated at this time.
In connection with the Transaction, the Company issued 6,000,000 common shares (the “Finder Shares“) to an arm’s length third party finder at a deemed price of $0.20
per Finder Share. The Finder Shares are subject to a statutory hold
period of four months and a day from the Closing Date which expires July 25, 2020.
This press release is available on the Company’s CEO Verified Discussion Forum, a moderated social media platform that enables civilized discussion and Q&A between Management and Shareholders.
None of the securities to be issued pursuant to the Transaction have
been or will be registered under the U.S. Securities Act of 1933, as
amended (the “U.S. Securities Act“), or any state
securities laws, and any securities issued pursuant to the Transaction
are anticipated to be issued in reliance upon available exemptions from
such registration requirements pursuant to Rule 506(b) of Regulation D
and/or Section 4(a)(2) of the U.S. Securities Act and applicable
exemptions under state securities laws. In addition, the securities
issued under an exemption from the registration requirements of the U.S.
Securities Act will be “restricted securities” as defined under Rule
144(a)(3) of the U.S. Securities Act and will contain the appropriate
restrictive legend as required under the U.S. Securities Act.
About Hollister Biosciences Inc.
Hollister Biosciences Inc. is a diversified cannabis company with
multiple, high-quality products now carried in 220 of Indus Holdings
(CSE: INDS), Hollister’s exclusive
distribution partner’s 600 dispensaries. This level of penetration is
expected to grow as the Company accelerates its seed to shelf, high
margin business and product development model.
Capitalizing on this success, Hollister’s vision is to
become the sought-after premium brand portfolio of innovative, high
quality cannabis across multiple states and hemp products nationwide.
Our wholly owned California subsidiary, Hollister Cannabis Co, is the 1st state and locally licensed Cannabis Company in the City of Hollister, California,
the birthplace of the “American Biker” from which we embrace the outlaw
roots of Hollister to drive our Company fearlessly down the road of
success.
Products from Hollister Cannabis Co. include HashBone, the brand’s
premier artisanal hash-infused pre-roll ranked as California’s #1 hash
infused pre-roll, along with solvent-free bubble hash, pre-packaged
flower, pre-rolls, tinctures, vape products, and full-spectrum high CBD
pet tinctures.
Venom Extracts is one of Arizona’s premier extract
brands and one of the state’s largest producers of award-winning medical
cannabis distillate and related products. With an experienced
management team and unparalleled reputation for quality, Venom Extracts
prides itself as a differentiated extraction company by producing legal
Marijuana products at a price point that allows retailers to generate
higher profits. Focused on proprietary efficiencies, the Company is
able to produce more product per square foot than its competition,
maintaining lower costs and risks than a typical extraction company. The
company’s expansion strategy is centered on entering new markets/states
that are approved for medical cannabis use and/or approved or have a
reasonable expectation to be approved for recreational use in the near
future.
The CSE does not accept responsibility for the adequacy or accuracy of this release.
Forward-Looking Information: This news release includes certain
statements that may be deemed “forward-looking statements”. The use of
any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”,
“will”, “would”, “project”, “should”, “believe” and similar expressions
are intended to identify forward-looking statements. Although the
Company believes that the expectations and assumptions on which the
forward-looking statements are based are reasonable, undue reliance
should not be placed on the forward-looking statements because the
Company can give no assurance that they will prove to be correct. Since
forward-looking statements address future events and conditions, by
their very nature they involve inherent risks and uncertainties. These
statements speak only as of the date of this News Release. Actual
results could differ materially from those currently anticipated due to a
number of factors and risks including various risk factors discussed in
the Company’s disclosure documents which can be found under the
Company’s profile on www.sedar.com.
Tags: Cannabis, CBD, CSE, Hemp, Marijuana, stocks, tactical relief, tsx Posted in Featured, Hollister Biosciences | Comments Off on Hollister Biosciences $HOLL.ca Closes Transformational Acquisition of Rapidly Growing Venom Extracts Adding Over $16.4 Million In 2019 Revenue and $2.5 Million in EBITDA $WEED.ca $CGC $ACB $APH $CRON.ca $OGI.ca $FAF.ca
