Posted by AGORACOM-JC
at 8:57 AM on Thursday, August 1st, 2019
SPONSOR: Betteru Education Corp.
aims to provide access to quality education from around the world. The
Company plans to bridge the prevailing gap in the education and job
industry and enhance the lives of its prospective learners by developing
an integrated ecosystem. Click here for more information.
BTRU: TSX-V
Sequoia adds USD 200 million to its sixth India fund in a warming market
The venture capital firm originally targeted at 1 billion for its sixth Indian fund.
By Priya Pradeep Thu Aug 01 2019
Sequoia has been one of the most active investors in India over the
past decade, with investments across a wide array of sectors, from
high-profiled hotel chain Oyo Rooms, edtech upriser Byju’s, to SaaS
service Freshworks, all of which are local unicorns.
Sequoia India, the country’s largest venture capital after raising its USD 695 million sixth fund last August, is looking to add an additional 200 million dollars to the fund, per local financial media Mint. If the financing coming through, it’ll push the fund size closer to the 1 billion Sequoia originally targeted but eventually had to slash due to the then market conditions.
The move is driven by a growing market and reignited interests from limited partners (LPs), anonymous sources told Mint. More than 80% of Sequoia’s LPs are non-profits — universities, endowments, charities, and foundations.
Sequoia manages around USD 4.5 billion assets across several funds in
India. It’s bigger than the other tier-1 venture capital funds in the
country, including the likes of Nexus Venture Partners (1.39 billion as of now) and Accel.
Sequoia has been one of the most active investors in India over the
past decade, with investments across a wide array of sectors, from
high-profiled hotel chain Oyo Rooms, edtech upriser Byju’s, to SaaS
service Freshworks, all of which are local unicorns. In the first half
of this year, it has invested in 32 local startups, making it the most
prolific Indian investors during the period.
In total Sequoia has more than 200 companies in its Indian portfolio.
Since its inception in India in 2006, Sequoia followed a two-pronged
strategy in the market: invest in early-stage start-ups and those that
are into technology or are technology-enabled. In addition to local
investments, the firm also sets eye on neighboring and other regions. It
intends to disburse 20-30% of its corpus in Southeast Asia.
The Silicon Valley venture capital’s Indian arm also has stakes in
Australia’s online healthcare services provider HealthEngine,
Bangladesh’s online merchant marketplace ShopUp, and the
Stockholm-headquartered caller identity app Truecaller.
Sequoia India is making decent proceeds from selling or exiting some
of its investees, one of the reasons for the renewed interests from LPs.
In December 2018, Sequoia India sold a part of its stake in Byju’s
for USD 190 million, after investing USD 50 million across rounds since
2015. It still holds a minority stake in the company. Additionally, it
stands to make USD 500 million from investing USD 25 million across
rounds in Oyo Rooms, where its founder Ritesh Agarwal announced a USD
1.5 billion share buyback.
Sequoia has recently launched Surge, an accelerator programme
dedicated to invest exclusively at the seed stage for start-ups in India
and Southeast Asia.
The program, headed by Rajan Anandan, former VP, India and Southeast
Asia, Google, aims to invest in 30-40 start-ups annually for four months
and invest USD 1-2 million in each company. The launch of Surge
signifies that Sequoia, which typically invests more in growth and later
stage companies, is moving upstream into the early stage in a changing
market.
Posted by AGORACOM-JC
at 5:38 PM on Wednesday, July 31st, 2019
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Posted by AGORACOM
at 11:48 AM on Wednesday, July 31st, 2019
SPONSOR: GGX Gold Corp (TSX-V: GGX) GGX’s Gold Drop Property resides within a multi-million ounce gold producing region in British Columbia. The property holds the C.O.D. Vein and recently discovered Everest Vein. GGX has initiated 2019 drilling at Gold Drop. Click Here for More Info
Expectations are the Fed will cut rates by 25 basis points
Falling interest rates make metals more attractive
Tie in bullish technicals with a clueless Fed and we should see higher gold and silver prices.
Yesterday we wrote that gold and silver would probably be quiet and
flat until after the Fed reported on Wednesday. It now looks like the
metals are trying to get a jump on the Fed and have started to rally
early.
Friday saw gold
trade as low as $1,412 and suddenly the metal is back over $1,440.
There was a late-day rally Monday with some early morning follow-through
today. The key to watch in gold is the $1,450 level, since a close
above would signal $1,500 is not far behind. Silver looks like it wants to join the rally and push through $17.
Expectations are the Fed will cut rates by 25 basis points; that
would be bullish for the metals. Falling interest rates make metals more
attractive. Tie in bullish technicals with a clueless Fed and we should
see higher gold and silver prices.
Posted by AGORACOM-JC
at 11:41 AM on Wednesday, July 31st, 2019
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EKG: TSX-V ———————-
Market Report on Global Smart Healthcare Market is to Witness Highest Growth in near future Forecast
Smart healthcare market is poised to grow at an exponential rate owing to the rapid technological advancements in the healthcare IT, such as development of EHR, mhealth, and telemedicine
Here we have an in-depth study of the Global “Smart Healthcare Marketâ€, which analyzes past as well as recent Smart Healthcare Market values along with detailed market information to capture many factors such as market trends, anticipated future market conditions, challenges, risk and various opportunities during the forecast period from 2018 to the upcoming year 2023. It is precisely stated that data about the Smart Healthcare market will certainly help stakeholders and other business vendors to get a significant understanding of the handling of the Smart Healthcare market globally. All over the world. The report provides a detailed overview of the Smart Healthcare Industry and is then segmented on the basis of product type, key manufacturers, applications and regions.
The global smart healthcare market is projected to grow at a CAGR
of 9.2% over the forecast period (2018 – 2023). This report provides
information about the leading players in the market and a corresponding
detailed analysis of the top vendors in the smart healthcare market. In
addition, the report discusses the major drivers that influence the
growth of the market. It also outlines the challenges faced by the
vendors and the market at large, as well as the key trends that are
emerging in the market.
The smart healthcare market is poised to grow at an exponential rate
owing to the rapid technological advancements in the healthcare IT, such
as development of EHR, mhealth, and telemedicine. Also, wearable
healthcare devices that are used in tracking and monitoring of health
conditions, body temperature, remote cardiac, calories burnt, and sleep
statistics are witnessing huge growth. Introduction of technologies such
as big data analytics within this sector will drive the prospects for
the growth of the healthcare market.
Rapid Technological Advancements are Driving Market Growth
The key factors driving the global smart healthcare market are the
rapid technological advancements in the healthcare industry. The
development of smart healthcare devices such as smart syringes, smart
pills, and smart bandages that are capable of monitoring patient’s
healing procedure remotely and minimize the risks involved during the
usage of syringes are expected to drive the market growth over the
forecast period. However, lack of awareness and constraints related to
budget are the factors restraining the growth of the market.
mHealth is Expected to Grow Exponentially over the Forecast Period
The mHealth segment is expected to witness a high growth rate owing
to key elements that are leading to its fast development, such as its
ability to provide information about the factors that are leading to a
disease and reduce overall health risks, rising frequencies of unending
infections, for example, tumor, heart diseases, and diabetes. Also,
swift advancement and expanding buying power of consumers has brought
about proliferation of PDAs, alongside 3G and 4G systems, which is
expected to be an essential achievement factor for the development of
the worldwide mHealth market.
North America is the Major Contributor for the Market.
The North American market is the highest contributor to smart
healthcare owing to the presence of developed IT and healthcare
infrastructure and high expenditure on healthcare. The US is the major
contributor to the North American market, because of early adoption and
huge investment. The Asia-Pacific market is the fastest growing smart
healthcare market and is expected to grow at a faster pace during the
forecast period as compared to other regions.
Key Developments in the Market
• November 2017 – Cisco and INTERPOL agreed to share threat
intelligence as a first step in fighting cybercrimes jointly. This
alliance is expected to witness two organizations develop a coordinated
and focused approach towards sharing data. • November 2017 – IBM
acquired Vivant Digital Business to address the growing needs of clients
seeking transformation though Digital Reinvention.
Posted by AGORACOM-JC
at 10:48 AM on Wednesday, July 31st, 2019
SPONSOR: Betteru Education Corp.
aims to provide access to quality education from around the world. The
Company plans to bridge the prevailing gap in the education and job
industry and enhance the lives of its prospective learners by developing
an integrated ecosystem. Click here for more information.
BTRU: TSX-V
Chasing students: Naspers Ventures into online education
Chasing students: Naspers Ventures into online education
Online education is the next big thing for technology giant Naspers, judging from its recent investments.
The company has announced a $30m investment into Brainly, an online learning community for students, parents and teachers, along with two other funders.
It’s no secret Naspers trades at discount to the value of its Tencent stake. So much so that this discount was deemed part of the reason the technology giant pushed for its offshore listing on the Euronext in Amsterdam.
Naspers is also at odds to defy this one-trick pony tag, with
investments across sectors from online classifieds to food delivery.
Education is another such topic, online in particular, which has seen
investments range from $30m to $383m, from the United States to India.
But not enough is made of these investments. In the Business Maverick article below, Sasha Planting maps out the group’s investments into online education. – Stuart Lowman
Naspers rides the education wave
By Sasha Planting
Online education is the next big thing for technology giant Naspers,
judging from its recent investments. The company has announced a $30m
investment into Brainly, an online learning community for students,
parents and teachers, along with two other funders.
This is its second investment into the company, which has
headquarters in Krakow and New York. The first was a $15m investment in
2016.
Brainly’s “crowd learning†model combines online education, social
media and machine learning, and is disrupting the education market on a
global level. From 2018 to 2019 it has grown from 100 million to 150
million active monthly users.
In December 2018 Naspers invested $383m in Indian online tutorial
start-up Byju’s, which develops online learning materials. It is the
world’s most prized EdTech company, having recently been valued at
$5.7bn.
Online learning is booming thanks to exploding internet usage around
the world, largely because of the ubiquity of cheap smartphones and
decreasing internet costs.
While this trend is catching on in both developing and developed markets, Naspers is particularly excited about opportunities in India.
It notes in its recently released annual report that India is the
world’s fastest-growing large economy, with more than 1.3 billion people
and some of the planet’s most talented entrepreneurs.
“We’ve been investing in India for more than a decade – over $2bn, or
around 20% of our worldwide investment in the last decade,†says CEO
Bob van Dijk in the report.
Prior to this, in September, Naspers invested in SoloLearn, a social
platform that helps individuals become better coders as they consume,
create and share bits of code-related content with peers around the
world.
Naspers’ first investment in the EdTech space was in June 2016 when
it invested $60m in Udemy, an online learning marketplace for adults.
The growth in the platform has been nothing short of extraordinary with
40 million students making the most of the 130,000 courses offered in
more than 60 languages.
The investments are housed in Naspers Ventures,
which is dedicated to seeking out, investing in and nurturing companies
that will generate the next wave of growth for the tech company. This
is the type of thinking that saw Naspers transform itself from a South
African print media business in 1915 to today’s global consumer internet
group.
“Naspers Ventures’ remit is to find investment opportunities for
Naspers beyond our traditional market segments, but that are a strategic
fit for the company,†Naspers Ventures CEO Larry Illg said at the time
of its investment in Udemy.
“We are looking for companies and leaders with high potential and the
ambition to have significant global impact. Education is a sizeable
market that has not yet seen the technology impacts we have seen in
other sectors, but we are now seeing dramatic innovations appearing.
That makes EdTech a perfect fit for Naspers Ventures.â€
Certainly, it seems that the online learning market has limitless potential. According to an article in Forbes magazine, it was predicted that “e-learning†would reach $107bn in 2015 – and it did. Now, Research and Markets forecasts show that this figure will triple in the coming years – in other words, it will grow to $325bn by 2025.
“The brilliant aspect about marrying learning with technology is that
it enables all kinds of innovative ways for more and more people to add
to their skills and knowledge: often more quickly, effectively and
enjoyably than before. This is an opportunity that can make a real
difference to people’s lives around the world and there is still much
more to be done. So for us, it ticks all the right boxes,†says Illg in
the annual report.
In the 2018-19 financial year, Naspers’ food-delivery businesses (Swiggy,
Delivery Hero, Mr D Food and iFood) reached a size and level of
profitability that saw it graduate from Ventures to become a core
standalone Naspers segment alongside Classifieds and Payments &
Fintech. While not yet a profitable business, online food delivery is
growing at 30% a year and is already a $75bn plus global market.
As a result, Naspers has dramatically upped the level of investment
in this space. During the year, it committed, along with Innova, to
invest an additional $400m in iFood to enable the business to accelerate
growth. It also invested $716m in Indian food-delivery leader Swiggy
during the year.
It is a matter of time before its online education business reaches a similar scale. BM
Posted by AGORACOM
at 10:00 AM on Wednesday, July 31st, 2019
Sponsor: American Creek Resources (TSX-V: AMK) American Creek owns a 20% Carried Interest to Production at the Treaty Creek Project in the Golden Triangle. 2019’s first hole averaged of 0.683 g/t Au over 780m in a vertical intercept. The Treaty Creek property is located in the same hydrothermal system as the Pretivm and Seabridge’s KSM deposits.
Sprott sold 3.3 million shares of Kirkland stock for C$168m
Deployed C$139m on 16 gold and silver explorers since May
Includes $4M in Tudor Gold and most recently 1$M in American Creek for Treaty Creek Exposure at Goldstorm
Eric Sprott is responsible for nearly a quarter of the money flowing into junior mining since May, says Oreninc. Image from archives.
The gold price has now been camped out above $1,400 an ounce for a month, and silver has finally come alive above $16 per ounce, but legendary mining financier Eric Sprott had already kicked off a major junior investment spree when the metals were significantly cheaper than they are today.
The Canadian billionaire investor – also a pioneer in the gold-backed
ETF industry – has splashed more than C$139 million on 16 gold and
silver explorers (and some nickel on the side) since May, according to
junior mining finance authority Oreninc. $127m of the total found its way to Canada-domiciled companies.
Sprott uses a company called 2176423 Ontario to play the space and
was able to flash the cash thanks in part to a divestment from Kirkland
Lake Gold, (TSX:KL) (NYSE:KL) where he was chairman until recently.
Sprott, has sold some 3.3 million shares of Kirkland stock for C$168
million, reducing his position from 10% to 8% according to Oreninc data.
Kirkland Lake has been on a roll, doubling its share price in under a
year.
Kirkland Lake output could reach 1 million ounces for the first time this year, driven by record production at its flagship Fosterville mine in Australia. Fosterville is the lowest cost gold mine in the world, extracting the metal for a mere $313 an ounce all-in this year.
Posted by AGORACOM
at 9:15 AM on Wednesday, July 31st, 2019
Lomiko Metals Inc. currently owns and will retain 20% of Promethieus Technologies Ltd
Lomiko Metals Inc. will be reimbursed $ 193,614.32 in expenses paid by Lomiko Metals on behalf of Promethieus Technologies Inc.
The transaction is subject to a Promethieus Technologies PLC (UK) financing of $3,670,750
Vancouver, B.C., July 31, 2019 (GLOBE NEWSWIRE) — Lomiko Metals Inc. (“Lomikoâ€)
(TSX-V: LMR, OTC: LMRMF, FSE: DH8C) Lomiko Metals Inc. announces that
it has entered into an agreement to sell it’s 100% interest in Lomiko
Technologies Inc. to Promethieus Technologies Ltd. (Canada) for $
1,236,625.
Lomiko Metals Inc. currently owns and will retain 20% of Promethieus
Technologies Ltd. (Canada). Further, Lomiko Metals Inc. will be
reimbursed $ 193,614.32 in expenses paid by Lomiko Metals on behalf of
Promethieus Technologies Inc. (Canada).
Lomiko Technologies is the owner of 18.15% of SHD Smart Home Devices
Ltd. and 40% of Graphene Energy Storage Devices. Lomiko Metals Inc.
will transfer 1,852,389 shares of Lomiko Technologies representing 100%
of the shares of the company.
The transaction is subject to a combination arrangement between
Promethieus Technologies Ltd. (Canada) and Promethieus Technologies PLC
(U.K.), a minimum Promethieus Technologies PLC (UK) financing of $
3,670,750, the approval of non-interested shareholders during a special
Annual General Meeting (AGM) of shareholders Lomiko Metals Inc. and the
approval of the Toronto Stock Exchange. The transaction is considered a
non-arms length transaction as Mr. A. Paul Gill is a Director of all
the entities involved.
As announced December 3, 2018,
Both Promethieus companies changed their mandate to focus on Future
Tech investments and has reviewed investment opportunities in electric
vehicle infrastructure, clean energy, the Internet of Things (IoT) as
well as clean-tech and green tech materials related to these
technologies.
We seek safe harbor. Neither 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.
A. Paul Gill
Lomiko Metals Inc. (TSX-V: LMR)
6047295312
[email protected]
Posted by AGORACOM-JC
at 3:36 PM on Tuesday, July 30th, 2019
SPONSOR: ThreeD Capital Inc. (IDK:CSE) Led by
legendary financier, Sheldon Inwentash, ThreeD is a Canadian-based
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Branson-backed cryptocurrency firm launches a super-fast exchange to take on Coinbase
Blockchain’s exchange is the result of work led by a team of former trading industry executives.
The exchange can execute orders in a matter of “microseconds,†according to CEO Peter Smith.
The firm has raised $70 million from investors including Richard Branson, Alphabet and Lakestar.
Blockchain CEO Peter Smith.
Krisztian Bocsi | Bloomberg via Getty Images
Blockchain, one of the world’s largest cryptocurrency wallet
platforms, says it’s launched a digital currency exchange aimed at
delivering “lightning-fast†trades.
The company’s exchange, called The PIT, is the result of a
behind-the-scenes effort led by a team of former executives from the New
York Stock Exchange, TD Ameritrade, Google and Goldman Sachs.
According to Blockchain CEO Peter Smith, the new exchange’s matching
engine Mercury can execute buy or sell orders in “40 to 50
microseconds,†an “order of magnitude faster than other market playersâ€
like Coinbase and Binance.
Founded in 2011, Blockchain initially started out with what’s known
as a block explorer — kind of like an internet browser for
cryptocurrency data — and then built digital wallets for users to store
and exchange their crypto. It derives its name from the eponymous
blockchain network that records bitcoin transactions.
Having enjoyed popularity with bitcoin enthusiasts — Blockchain
claims to account for about 25% of daily activity on the bitcoin network
— the company is hoping its exchange platform will help lure in the
uninitiated.
“There’s a huge audience of people who have not yet placed their
first bitcoin trade,†Nicole Sherrod, head of trading products at
Blockchain, told CNBC in an interview. Sherrod previously led the active
trading product team at online stock broker TD Ameritrade before
joining Blockchain.
Sherrod said the new trading platform would give investors a degree of liquidity not seen in competitor exchanges.
“In volatile markets in particular, speed is of utmost importance,â€
she said. “I would not feel comfortable delivering a platform to retail
investors that puts them in a position where they couldn’t get in and
out of a trade with lightning-fast speed.â€
Blockchain CEO Peter Smith says the cryptocurrency firm’s new exchange can executive order in a matter of “microseconds.â€
Blockchain
Cryptocurrencies have gained a reputation for their volatile price
swings. Bitcoin in late 2017 skyrocketed to a near-$20,000 record high,
before plummeting the following year to as low as $3,122. The world’s
best-known digital currency has been on the rise this year, however,
last trading at $9,502.
Bitcoin’s rise in 2019 was attributed in part to Facebook’s plans to
create a cryptocurrency, with analysts saying it brings some much-needed
credibility to cryptocurrencies. Facebook’s Libra project has been
panned by regulators, however, concerned by the risks it may pose to
consumers.
One big hurdle for the industry to overcome is bringing institutional
investors with deep pockets on board. That may be slowly starting to
happen, with financial services giant Fidelity signaling it’s warming to the space. Sherrod said that Blockchain’s crypto exchange is providing liquidity through “institutional-level market makers.â€
Blockchain said its exchange will be available in more than 200
countries, starting with 26 trading pairs. Users will be able to link
their bank account with Blockchain and use U.S. dollars, euros and
sterling to trade cryptocurrencies.
The company has raised over $70 million from investors including
British billionaire Richard Branson, Alphabet venture arm GV and early
Spotify backer Lakestar. It has also accrued over 40 million users,
Blockchain said, who will be able to transfer crypto from their wallets
to the exchange.
Posted by AGORACOM-JC
at 11:51 AM on Tuesday, July 30th, 2019
SPONSOR: Spyder Cannabis Inc.
(TSX-V: SPDR) An established chain of high-end vape stores in Ontario,
Canada. The company has an aggressive expansion plan already in place
that will focus on Canadian retail and US Hemp-Derived kiosks in high
traffic areas. Click here for more info.
(TSX-V: SPDR)
New normal in US Congress: Marijuana hearings, reform bills & how they could affect the MJ industry
Cannabis has gone from the butt of jokes on Capitol Hill to milestone hearings and the introduction of landmark legalization reform packages that offer the potential to pave the way for billions of dollars in new business opportunities nationwide.
The current situation is in stark contrast to just a couple of years ago, showing how far and how quickly marijuana reform has come in Washington DC – even if it doesn’t appear at the moment to have a good chance to pass the full Congress.
The Marijuana Business Factbook estimates that from 2018 to 2023, sales of legal cannabis in the United States could grow by nearly 200%,
but those estimates also suggest legal sales represent a fraction of
the estimated total potential demand for cannabis in the United States.
Demand for recreational cannabis is roughly $50 billion-$60 billion
when black-market demand is included, according to the Factbook.
Federal legalization obviously would offer licensed MJ businesses inroads to take a bigger bite of the overall demand.
How times are changing in DC around MJ
Just a few months ago, the consensus was that the federal marijuana legislation most likely to pass would be narrowly focused, such as a bill to help veterans or spending bill amendments to protect state-legal cannabis programs.
Now the leading House measure appears to involve a comprehensive bill that would legalize marijuana nationwide.
The Marijuana Opportunity Reinvestment and Expungement (MORE) Act of
2019 could open massive business opportunities for legal cannabis firms
around the country, similar to the federal legalization of hemp, if it passes. But that’s a big “if.â€
Experts point out major reform before 2021 has long odds because of resistance in the Republican-controlled Senate.
But here’s the new normal:
Cannabis reform garnered milestone congressional hearings this year
in both the Democratic-controlled House and the Republican-controlled
Senate.
A U.S. House committee approved a cannabis banking bill, sending the measure toward the full chamber.
House Judiciary Committee chair Jerrold Nadler introduced the MORE Act, a comprehensive bill that would legalize marijuana nationwide by removing it from the Controlled Substance Act.
House Democrats are in effect saying that marijuana reform no longer
needs to be modest, said Douglas Berman, director of Ohio State
University’s Drug Enforcement and Policy Center.
“I have this ever-growing sense that more progressive advocates for
marijuana reform think the momentum is on their side and that they don’t
have to be content with a set of modest reforms or even an
industry-friendly reform that doesn’t expressly seek to address the
social equity parts of the story,†Berman noted.
Nadler’s bill, for example, not only would legalize cannabis
nationwide, but through a 5% rec MJ sales tax, it would fund programs to
help individuals and communities disadvantaged by the federal marijuana
prohibition.
Marijuana entrepreneurs are paying close attention, and industry experts attribute the shifting ground to:
Strong public support for reform. Some polls find it exceeding 60%.
Democrats have control of the House and, thus, the committees that set the schedules for hearings.
The Democratic presidential lineup includes near unanimity that marijuana should be federally legalized.
A strategy exists among Democrats that it’s better to ask for more than less to build negotiating leverage for eventual reform.
There’s a growing consensus that comprehensive cannabis reform must
include elements of social justice and equity as well as reinvestment in
communities most affected by the war on drugs. Progressives in the
Democratic party have expressed that attitude, and recreational
marijuana legalization discussions in Illinois, New Jersey and New York
have reflected it as well.
Addressing MJ banking/tax conundrums
Large industry groups including the American Bankers Association and the Credit Union National Association increasingly are pushing for specific reforms,
such as the SAFE Banking Act, which would enable financial institutions
to serve state-lawful cannabis businesses without fear of federal
prosecution.
“It’s really the voices of these groups that have given the momentum
and traction to the issue in the Senate,†said Saphira Galoob, CEO of
the Liaison Group and executive director of the National Cannabis
Roundtable.
U.S. Rep. Earl Blumenauer, a longtime advocate for marijuana reform
from Oregon, told the media that Nadler’s bill will represent the “path forward†to fixing cannabis policy in the House.
That’s because most major reform measures must go through the House
Judiciary Committee, and Nadler controls which bills get considered.
Many experts doubt he’ll want committee votes on bills other than his own.
The House Judiciary Committee may mark up his reform bill and vote on
it by as soon as September, after lawmakers return from their summer
recess, Blumenauer and others noted.
The Nadler bill would resolve major industry issues such as access to banking and tax equity.
But Berman said he would be surprised if the Republican-controlled Senate considers the Senate version of Nadler’s bill, which is sponsored by Sen. Kamala Harris, a California Democrat running for president.
Experts say major reform still faces high hurdles in the Senate.
Senate Majority Leader Mitch McConnell, a Kentucky Republican, “has
unilateral control of the Senate schedule,†St. Louis-headquartered
investment firm Stifel noted in a recent cannabis industry update.
“His statements have suggested personal opposition to marijuana, and
we believe his political calculus favors keeping his senators off the
record with many Republicans facing re-elections in areas without more
progressive marijuana policies,†the report added.
That seemed to be the case when the Senate Banking Committee recently held a landmark hearing on cannabis banking.
Committee Chair Michael Crapo from Idaho was the only Republican present of the 13 Republicans on the committee.
The future role of SAFE and the STATES Act
The prevailing view by many experts is that major reform becomes even less likely as the 2020 election draws near.
But it’s hard to predict political dynamics.
If President Donald Trump or McConnell wants reform for political reasons, then it could occur, Berman said.
So if Nadler’s bill becomes the leading House bill, what happens to
other cannabis-related legislation, such as the STATES Act, which would
protect state-lawful cannabis businesses from federal interference but
wouldn’t legalize marijuana nationwide?
Blumenauer, who earlier this year predicted that the House would pass
SAFE, said that measure would be unnecessary if Nadler’s bill goes
through the House.
STATES, which has no social equity component, has “interesting
support†and “still has the opportunity to be the catalyst in the
Senate,†Blumenauer said.
STATES also has some implicit support from U.S. Attorney General William Barr.
Neal Levine, CEO of the Cannabis Trade Federation, lauded Nadler’s bill.
But the industry group still is backing the STATES Act as well, Levine told Marijuana Business Daily.
Posted by AGORACOM
at 8:40 AM on Tuesday, July 30th, 2019
Key
Management appointments, including Raymond W. Urbanski MD, PhD, former
business unit Chief Medical Officer at Pfizer Inc., as Chief Executive
Officer provides extensive industry leading expertise, strategic focus
and discipline on the execution of corporate initiatives
Purposefully
built strategic business units focused on leveraging science-driven
cannabinoid research to address areas of significant unmet needs and
access growing markets
Multiple expected near-term value driving milestones
BEVERLY HILLS, CA / ACCESSWIRE / July 30, 2019 / Applied BioSciences Corp. (OTCQB:APPB) (“Applied”
or the “Company”), a vertically integrated company focused on the
development of science-driven cannabinoid biopharmaceuticals and the
production of high-quality CBD products, today provided a corporate
update and business outlook for the remainder of 2019.
Corporate Highlights
Renewed strategy focused on leveraging endocannabinoid system to develop high-value products across three separate business units, including:
Biopharmaceuticals: goal to develop novel therapeutics to treat serious diseases across a range of therapeutic areas, including metabolic, peripheral neuropathy and progressive lung disease
CBD Products: multiple brands offering high-quality CBD products to the highest regulatory standards;
Bolstered leadership team with highly qualified individuals including Raymond W. Urbanski MD, PhD, as Chief Executive Officer, former business unit Chief Medical Officer at Pfizer Inc. and well-established industry leading expert with over 20 years of experience in clinical development, research and pharmaceutical industry expertise across oncology, cardiology, endocrinology, and immunology;
Appointed Martin Schroeder to the Scientific Advisory Board and as President of Applied BioPharma. Mr. Schroeder has over 30 years of experience in the pharmaceutical and biotech industries and has helped many biotech and pharmaceutical companies conduct search and evaluation of compounds and molecules;
Launched multiple new products and expanded into the Beverage and Health / Wellness category with Remedi Spa and Remedi Beverage and Shot;
Commenced discussions regarding proposed scientific trials with two leading Universities specializing in Veterinary Medicine;
Announced the acquisition of Trace Analytics with over 65 years of combined experience in the global testing market for Cannabis and Hemp;
Partnered with Boxing Heavyweight Champion, Shannon “The Cannon†Briggs to launch Champ Organics, an athlete-focused cannabidiol (“CBDâ€) based health and wellness supplements product line that enhances training and recovery; and
Launched robust business development initiative to build biopharmaceuticals pipeline.
“Over the course of my academic and pharmaceutical career, I have
developed a keen interest in the benefits of cannabinoids and their
ability to address a wide range of disease states. I saw a great deal of
potential in Applied’s science-based approach to the endocannabinoid
system, which ultimately drove me to join at what I believe is a pivotal
time in the Company’s history. Now with the right team in place and a
renewed focus on our corporate and clinical strategies, I believe we
have the potential to drive value for all stakeholders and impact areas
of significant unmet need in established and rapidly growing markets,â€
commented Dr. Raymond Urbanski, Chief Executive Officer. “As we look
towards the rest of 2019, we remain focused on the critical importance
of taking the necessary steps to build a solid foundation from which we
can launch future expansion and growth. With all our strategic
approaches in place, we believe we are well-positioned to unlock the
full potential of Applied BioSciences.â€
Applied BioPharma
The
Applied BioPharma business unit is focused on the development and
commercialization of novel therapeutics to treat serious diseases by
leveraging industry leading pipeline of endocannabinoid system-targeted
drug candidates.
The
Company is actively seeking in-license opportunities with the goal of
developing an industry leading pipeline of endocannabinoid
system-targeted drug candidates that address significant unmet needs
across a wide range of therapeutic areas. The Applied management team
expects to announce at least one in-licensing agreement before year end.
Applied Products
The
Applied Products business unit currently consists of eight different
brands of hemp-derived, THC-free, pharmaceutical grade CBD isolates and
distribution products, all of which ship to the majority of U.S., as
well as to multiple non-US countries. The Company’s portfolio currently
includes consumer, animal health, women’s health and sports medicine
products.
Applied
Products operates under a differentiated approach to quality and
regulatory practices within the industry, which it believes
well-positions them to be leaders in the market and access the
significant opportunity for revenue generation. All CBD products utilize
the most proven and effective production methods to ensure the highest
quality output. The Company’s Full Spectrum products are made using CO2
Extraction, which allows for the proper retention of cannabinoids and
terpenes vs a distillate, and a winterization process. Applied’s THC
Free products are CBD Isolate infused. This isolation process leaves
behind pure pharmaceutical grade CBD only, ensuring the highest quality
is achieved. Additionally, the Company’s Nano CBD Isolate products use a
specialized Nano-Particulizer, a process which creates a pure
nano-molecule.
“The
CBD industry continues to be of great interest among the medical and
investment community. We have seen rapid growth and continue to witness
advancements in the space, however current products on the market are
not high quality or are not actually what the label claims them to be.
Our team sees room for significant improvement and believe we have a
competitive advantage by offering high-quality products through our
differentiated approach,†said Scott Stevens, Founder and Chairman of
the Board.
Trace Analytics, Inc.
Trace
Analytics Inc., a majority owned subsidiary of Applied, is a leading
cannabis science and technology company with significant footprints in
lab testing, research and development and licensing. Trace Analytics was
started by a group of scientists who specialized in analytical
chemistry, genetics and molecular biology. The focus of the team is to
ensure compliance with public safety standards and end user safety.
Trace Analytics is in the process of expanding throughout the United
States, and globally. With the goal of helping the rest of the world
adopt “best practices” in cannabis and hemp testing, the company also
provides expert consulting services to legislators and regulators in
many countries, states and municipalities around the world.
The
Company is actively establishing a global medical and consumer platform
and multiple brands through creating a platform to partner and invest
in various segments in the consumer industry and establish key exclusive
strategic alliances which serve to accomplish the task of becoming the
market leader. For more information, please visit: http://traceanalytics.com
Upcoming Milestones Expected to Drive Value
In-license product candidates to build robust pipeline for the Applied BioPharma division;
Explore strategic options for non-dilutive funding with Trace Analytics;
Successfully execute overall strategy of the Company and Business Development efforts;
Engage with key stakeholders in the investment community and execute on the robust effort to raise awareness of the Company; and
Uplist to a National Exchange.
Dr.
Urbanski concluded, “Our priority moving forward is to successfully
execute our corporate strategy. We continue to make significant steps to
raise the awareness of the Company with multiple stakeholders in the
investment community as well as a number of strategic partners.
Additionally, we have embarked on a formalized investor relations and
corporate communications strategy to continue building off the momentum
and firmly believe this will provide us with the opportunity to enhance
the profile of Applied BioSciences and ultimately position us to uplist
to a National Exchange. We look forward to continue providing you with
updates as we execute our strategies in place.â€
About Applied BioSciences Corp.
Applied
BioSciences is a vertically integrated company focused on the
development of science-driven cannabinoid therapeutics /
biopharmaceuticals and delivering high-quality CBD products as well as
state-of-the-art testing and analytics capabilities to our customers.
Applied BioSciences is focused on, testing and analytics, consumer and OTC brands, and partnership opportunities in the medical, health and wellness, and nutraceuticals. The Company has several strategic partnerships currently in place and is actively pursuing additional partnerships and other strategic growth opportunities. For more information, visit the Company’s website.
