Posted by AGORACOM
at 8:57 AM on Tuesday, May 12th, 2020
Vaughan, Ontario–(Newsfile Corp. – May 12, 2020) – Spyder Cannabis Inc. (TSXV: SPDR) (“Spyder” or the “Company“) through its wholly-owned associated applicant, Spyder Cannabis Subco Inc., is pleased to announce that it has received a cannabis retail operator licence from the Alcohol and Gaming Commission of Ontario (the “AGCO”). Spyder has already applied for its Cannabis Retail Store Authorization, located at 6474 Lundy’s Lane, Niagara Falls, Ontario and will operate as SPDR Cannabis. The Retail Store Authorization is the next step required in the process to open its retail operation. Spyder will offer a full assortment of cannabis products from licenced producers.
“The issuance of the Retail Operator’s License is an important milestone in the company’s evolution, and we are excited to commence our growth strategy in the province of Ontario.”, said Daniel Pelchovitz Spyder’s President & CEO.
Spyder would also like to update the previous press release about the Alberta Gaming, Liquor and Cannabis Commission authoriziation. The licence previously announced represents a conditional licence until such time as the final inspection of our already built store is completed and the final licence is given.
About Spyder Cannabis Inc.
Spyder is a Cannabis, Vape and CBD retailer that operates in jurisdictions where the products are federally legal in both Canada and the United States. The Company, through its subsidiaries, is a retailer involved in the development of three retail business units. The first is the sale of Cannabis products, the second is the sale of CBD in the United States only, the third is the sale of smoking cessation products in Ontar
Posted by AGORACOM
at 7:37 AM on Monday, May 11th, 2020
VANCOUVER, BC / ACCESSWIRE / May 11, 2020 / Mota Ventures Corp. (CSE:MOTA)(FSE:1WZ:GR)(OTC PINK:PEMTF) (the “Company“) subsidiary, Nature’s Exclusive, an ecommerce provider of CBD products to consumers in the United States and Europe, is pleased to announce record revenues for the month of April totaling Cdn$3,818,000, representing an increase of 39% compared to April 2019. Expenses totaled Cdn$3,609,000, representing a Gross Profit of Cdn$209,000 for the month.
DOMINANT ONLINE CUSTOMER ACQUISITION STRATEGY
The Company credits this success to its’ online customer acquisition strategy, which is capitalizing on the strong consumer demand for natural health solutions, resulting in an interim record number of customer acquisitions for the Nature’s Exclusive brand, as well as, new customers for the immune support category introduced in March 2020.
The Company’s strong ability to continue capturing customers, for both existing and new products, bodes well for the Company’s CBD based hand sanitizer launch this month.
Ryan Hoggan, CEO of the Company stated, “I am very pleased to report another successful month with increased sales over 2019. Our investment in customer acquisition in March 2020, which yielded additional subscribers, has been a significant driver to our increased profitability. Despite the worldwide pandemic, we continue to move forward towards our full year goals for 2020, including expansion into the European market. I look forward to reporting on new customer acquisitions in the coming weeks”.
NATURE’S EXCLUSIVE CBD BRAND LEADING THE WAY
The Company’s Nature’s Exclusive brand offers a CBD hemp-oil formulation intended to provide users with the therapeutic benefits that hemp may offer. The hemp oil used in the products is derived from hemp grown and cultivated in the United States. The extraction process is designed to maintain all the beneficial qualities that hemp may offer. Nature’s Exclusive offers a range of products, which include CBD oil drops, CBD gummies, CBD pain relief cream, CBD skin serum, CBD hand sanitizer and CBD coffee.
We encourage readers to visit www.motaventuresco.com to view our brands and sign up to our newsletter.
We encourage shareholders and prospective investors to visit the Company’s AGORACOM Discussion Forum, a moderated social media platform that enables civilized discussion and Q&A between Management and Shareholders.
The Company cautions that figures for revenue, expenses and margin generated from the sale of Nature’s Exclusive products have not been audited, and are based on calculations prepared by management. Actual results may differ from those reported in this release once these figures have been audited. These figures were translated from US dollars into Canadian dollars using the Bank of Canada monthly average exchange rate of US$1.00:Cdn$1.4058 for April 2020 and US$1.00:Cdn$1.3378 for April 2019.
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 Nature’s Exclusive brand. Within Europe, its Sativida 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
Posted by AGORACOM-JC
at 9:45 PM on Sunday, May 10th, 2020
SPONSOR: Hollister Biosciences Inc. (HOLL:CSE) A vertically integrated cannabis company with products in 220 California dispensaries and joint ventures, licensing agreement & partnerships with global brands. The company recently closed $20 MILLION deal with Venom Extracts adding $CDN 16.4 million in revenue and $CDN 2.48 million in EBITDA. Learn More
How The Cannabis Industry Is Coping In 2020
Canada and most U.S. states with legalized cannabis industries declared dispensaries as essential services, allowing sales to continue throughout the COVID-19 crisis, enabling robust demand to be met
Even with strong sales momentum, cannabis stocks broadly suffered during the quarter amid heightened market volatility
Early-stage cannabis companies rely heavily on external capital to fuel their growth ambitions, but investors are stepping back from financing riskier industries in the current environment
Despite these near-term challenges, we remain optimistic on the longer-term prospects for cannabis as its acceptance grows
Amid widespread COVID-19-related retail store closures, many cannabis dispensaries received “essential business” designations. This allowed cannabis consumers to stock up on medicinal and recreational cannabis, fueling strong sales figures despite a tumultuous Q1 2020. Yet, even with strong sales momentum, cannabis stocks broadly suffered during the quarter amid heightened market volatility. Early-stage cannabis companies rely heavily on external capital to fuel their growth ambitions, but investors are stepping back from financing riskier industries in the current environment. Some cannabis companies are now running low on cash, forcing them to sell stakes at undesirable valuations or scale back operations or staffing.
Despite these near-term challenges, we remain optimistic on the longer-term prospects for cannabis as its acceptance grows. New store openings and the sale of edibles are helping to fuel greater legal consumption. In addition, COVID-19’s economic impact is broadly hurting tax revenues at the local, state, and federal level, potentially providing greater impetus to legalize and tax cannabis. With only about 10% of cannabis sales occurring through legal channels, we believe there is substantial opportunity for continued growth across regulated channels.
Is Cannabis A Consumer Staple?
The COVID-19 crisis is plunging the global economy into recession, yet its impact will not be felt equally across industries. During recessions, consumers may forgo discretionary items like jewelry or electronics, but staples such as essential food and beverages tend to see robust sales. Historically, alcohol and tobacco exhibit staples-like characteristics, demonstrating strong sales despite economic weakness. During the global financial crisis, for example, alcohol consumption increased 7.2% in 2008-09 from 2006-07 levels, while total sales in the consumer discretionary sector fell by -9.35% over that time frame.1,2
Legalized cannabis did not exist during the Great Recession, but recent figures suggest cannabis sales share similar characteristics with alcohol and tobacco. Canada and most U.S. states with legalized cannabis industries declared dispensaries as essential services, allowing sales to continue throughout the COVID-19 crisis, enabling robust demand to be met.
Online cannabis purchases in Ontario have surged from 5,000 orders in mid-March to 9,000 orders by mid-April.3
Oregon’s cannabis sales increased 37% year over year in March, its highest single-month increase.4
Between March 16th and March 22nd, year-over-year sales of recreational cannabis across key US markets, including California, Colorado, Oregon and Alaska, were up 50%.5
One of Nevada’s largest cannabis delivery businesses reported a 400% increase in cannabis retail deliveries since March 20th.6
While lockdown may have accelerated cannabis demand, cannabis sales were already on an accelerating path. January and February sales numbers in Canada increased 181% year-over-year to C$154 million and 190% to C$150 million.7 Estimates from Cannabis Benchmarks for March sales show a spike to C$216 million, more than three times March 2019’s sales of C$59 million.8
The shift towards greater cannabis acceptance has spurred much of this growth. Cannabis consumers among the legal adult population in Canada grew to 63% at the end of 2019 from 54% in 2018.9
Canada’s new recreational cannabis market, dubbed Rec 2.0, is also fueling growth. Rec 2.0 officially launched at the end of 2019, almost a year after legalization in Canada. Before Rec 2.0, only dried flower and oil were products sold, but now the sale of cannabis beverages, edibles and vapes, among other forms, is permitted. Derivative formats like these account for almost half of sales in mature and developed markets such as Colorado, showing how Rec 2.0 could play a major role in accelerating cannabis sales in Canada. Aurora Cannabis (ACB), for example, recently mentioned that approximately 20% of total sales could come from Rec 2.0 products.10 OrganiGram Holdings (OGI) also reported new Rec 2.0 products to account for 13% of total revenue in its most recent quarter.11
New Store Openings Grow Legal Cannabis’s Market Share
Curbing illicit cannabis sales is on the agenda for many governments around the world. Globally, legal cannabis sales reached $15 billion at the end of 2019, which is less than 10% of the estimated total market of $160 billion.12 Such low penetration both demonstrates the growth opportunity ahead as well as highlights some of the challenges for the legal market. In Canada, for instance, limited dispensary licenses plays a major factor, as recreational cannabis sales per capita are highly correlated to the number of stores.
In Q1 2020, Canada opened 191 new stores, bringing its total to 806.13 Ontario, Canada’s most populous province, now has 52 stores, versus just 27 at the end of 2019. But the few dozen stores represent just four per 1 million people. For comparison, Colorado has 180 stores for every 1 million people.14 The store comparison between the two countries is notable, as further licenses should help meet consumer demand and promote greater legal sales.
Within the U.S., active dispensary licenses are up 5.5% year-to-date, with 385 new stores opening around the country.15 Yet, given that the US has nine times more dispensary licenses than Canada, more stores is a less critical factor than wider legalization across populous states or at the broader federal level.
Cannabis Industry Leveraging E-commerce To Further Grow Sales
Oftentimes, crises breed both new problems and new solutions. During this social distancing era, Colorado legalized online sales of recreational cannabis, fulfilling a longstanding request from cannabis companies.16 Cannabis consumers can now order, pay online and pick up at-store. A few other states – Massachusetts, Illinois, Michigan and Oregon – already allow cannabis e-commerce.
In Canada, the Alcohol and Gaming Commission of Ontario (AGCO) authorized cannabis retail stores to offer e-commerce solutions, starting April 7th.17 E-commerce authorization resulted from an emergency order by the Government of Ontario to deter illegal cannabis sales amid physical distance mandates. For now, the measure is temporary, but it includes the possibility of extension.
Financing Cannabis’s Growth
Early-stage industries tend to rely on the capital markets to fund growth. The phenomenon describes a healthy dynamic between those with capital to invest and those seeking capital for growth. The cannabis industry is particularly dependent on capital, as growing, harvesting, packaging and distribution require property, equipment and employees. With high growth expectations, cannabis companies tend to plow their freshly raised capital into various parts of the ecosystem, leaving little cash available to weather a storm. The constant need for new financing can expose weaker companies that may need to raise capital at undesirable terms, or worse, cannot raise additional capital at all.
HEXO Corp. (HEXO), for example, a leading cannabis grower in Canada, recently closed a C$46 million public offering but was forced to sell its equity 20% below its last traded price.18 Other larger players have followed suit, like Tilray (TLRY), which raised C$90 also at a 20% discount.19
There are companies, however, with strong cash positions that may be able to weather this challenging financing environment better than others. Canopy Growth Corp. (CGC) and Cronos Group (CRON) both have over $1 billion in cash & equivalents on their balance sheets. GW Pharmaceuticals (GWPH) holds over $500 million in cash & equivalents. Balance sheet strength allows these companies to potentially wait longer before needing to raise additional outside capital.
COVID-19 Could Expedite Cannabis Legalization
In our article “Themes for Defensive Positioning,” we highlighted that economic downturns can accelerate efforts to find new sources of economic stimulus and tax revenue. Legalizing (and taxing) recreational cannabis is one such avenue states could pursue given its track record of generating economic growth and taxes. Estimates hold that nationwide legalization in the U.S. could generate $132 billion in aggregate tax revenue and more than a million new jobs across the country by 2025.20 Such growth comes not from an unproven, speculative market, but from the conversion of a largely illicit market to a legal, regulated one. Such taxes and economic growth could be particularly welcome given stalling economic growth and swelling debt caused by COVID-19.
This year, several states could legalize recreational use. Virginia recently decriminalized cannabis, joining 27 other states that have taken such actions.21 The bill doesn’t legalize cannabis sales yet, but Virginia’s Governor is also clearing the path for easier access for medicinal uses.22 In New Jersey, lawmakers voted to add legalization to November’s ballot. Should the bill pass, it could add additional pressure to neighboring New York and Connecticut.
Illinois, where legalized cannabis went into effect in January, is the most recent model other states could follow. Illinois has the second-highest tax regime on cannabis sales in the country, where taxes vary from 10% to 25%.23 In Q1, Illinois cannabis stores sold $110 million, generating at least $11 million in tax revenues. Another benchmark is Colorado, which legalized cannabis in 2014. In Q1 2020, Colorado generated $79 million in tax revenue from cannabis-related sales.24 In 2019 alone, the state collected over $300 million in tax revenue, which was earmarked for cannabis regulation, research and schools.25
With a global recession looming, the economic benefits of legalized cannabis could be too enticing for states, provinces and countries to ignore.
Conclusion
The recent increase in cannabis sales in the U.S. and Canada since COVID-19 reflects the non-cyclical nature of cannabis sales. While some cannabis companies may struggle from lack of access to capital during this volatile period, the stronger ones could continue to see substantial growth as they meet robust consumer demand. Trends in new dispensary openings, a shift to e-commerce, and the introduction of new consumable forms of cannabis should further fuel growth across North America. Longer term, the potential for further legalization efforts amid the COVID-19 crisis should provide a tailwind to the industry.
Related ETFs
POTX: The Global X Cannabis ETF seeks to invest in companies across the cannabis industry. This includes companies involved in the legal production, growth and distribution of cannabis and industrial hemp, as well as those involved in providing financial services to the cannabis industry, pharmaceutical applications of cannabis, cannabidiol (i.e., CBD), or other related uses including but not limited to extracts, derivatives or synthetic versions.
Please click on the fund name for current holdings.
Footnotes
1. Jacob Bor, et al. “Alcohol Use During the Great Recession of 2008-2009,” January 29, 2013.
2. U.S. Census Bureau. Discretionary sales including retail sales of Motor Vehicles & Parts, Furnitures, Electronics & Appliances, Clothing, Sporting Goods, General Merchandise, and Miscellaneous Stores. Accessed on April 2020.
3. Cannabis Benchmarks, “Canada Cannabis Spot Index (CCSI)”, April 17, 2020.
4. Willamette Week, “Oregon Cannabis Sales in March Were the Highest Ever for a Single Month,” April 6, 2020.
5. New York Post, “Cannabis sales hit new highs in US and Canada,” March 24, 2020
6. Reno Gazette Journal, “Nevada marijuana deliveries are skyrocketing. Is this the new normal for the pot industry?,” March 30, 2020.
7. Statistics Canada, “Cannabis Stores Sales,” Accessed on April 2020.
8. Cannabis Benchmarks, (n3).
9. BDS Analytics, “How Will “Cannabis 2.0″ Affect the Legal Canadian Market?,” February 18, 2020.
16. The Colorado Sun, “Coronavirus fuels marijuana industry’s push for online sales, delivery in Colorado,” April 13, 2020.
17. Alcohol and Gaming Commission of Ontario, “Ontario Allows Cannabis Delivery and Curbside Pick-up from Authorized Retail Stores During COVID-19,” April 7, 2020.
18. Hexo Corp, “HEXO Corp. Closes $46 Million Underwritten Public Offering,” April 13, 2020.
19. Tilray, “Tilray, Inc. Announces Pricing of its $90.4 Million Registered Offering,” March 13, 2020.
20. The Washington Post, “Study: Legal marijuana could generate more than $132 billion in federal tax revenue and 1 million jobs,” January 10, 2018.
21. Leafly, “Virginia just decriminalized marijuana. Here’s what that means,” April 13, 2020.
22. Marijuana Moment, “Virginia Governor Urges Medical Marijuana Expansion As Amendment To Recently Approved Bill,” April 15, 2020.
23. Illinois Policy, “What you need to know about marijuana legalization in Illinois?,” January 1, 2020.
24. Colorado Department of Revenue, “Marijuana Tax Data,” April 2020.
25. Ibis.
Investing involves risk, including the possible loss of principal. The investable universe of companies in which POTX may invest may be limited. The Fund invests in securities of companies engaged in Healthcare and Pharmaceutical sectors. These sectors can be affected by government regulations, expiring patents, rapid product obsolescence, and intense industry competition. International investments may involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principles or from social, economic or political instability in other nations. POTX is non-diversified.
POTX’s investments are concentrated in the cannabis industry, and the Fund may be susceptible to loss due to adverse occurrences affecting this industry. The cannabis industry is a very young, fast evolving industry with increased exposure to the risks associated with changes in applicable laws (including increased regulation, other rule changes, and related federal and state enforcement activities), as well as market developments, which may cause businesses to contract or close suddenly and negatively impact the value of securities held by the Fund. Cannabis Companies are subject to various laws and regulations that may differ at the state/local, federal and international level. These laws and regulations may significantly affect a Cannabis Company’s ability to secure financing and traditional banking services, impact the market for cannabis business sales and services, and set limitations on cannabis use, production, transportation, export and storage. The possession, use and importation of marijuana remains illegal under U.S. federal law. Federal law criminalizing the use of marijuana remains enforceable notwithstanding state laws that legalize its use for medicinal and recreational purposes. This conflict creates volatility and risk for all Cannabis Companies, and any stepped-up enforcement of marijuana laws by the federal government could adversely affect the value of the Fund’s investments. Given the uncertain nature of the regulation of the cannabis industry in the United States, the Fund’s investment in certain entities could, under unique circumstances, raise issues under one or more of those laws, and any investigation or prosecution related to those investments could result in expense and losses to the Fund.
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Tags: Cannabis, CBD, CSE, Hemp, small cap, tsx, tsx-v, weed Posted in Hollister Biosciences | Comments Off on How The #Cannabis Industry Is Coping In 2020 – SPONSOR: Hollister Biosciences $HOLL.ca $WEED.ca $CGC $ACB $APH $CRON.ca $OGI.ca $FAF.ca
Posted by AGORACOM
at 11:30 AM on Friday, May 8th, 2020
PONSOR: Mota is seeking to become a vertically integrated global CBD brand. Mota is creating sales channels and a distribution network internationally through the acquisition of the Sativida and First Class CBD brands. Low cost production, coupled with international, direct to customer sales channels will provide the foundation for the success of Mota. Combined total sales of almost $29,000,000 with a EBITDA of approximately 12.5% (2019) Click Here for More Info
With time ticking down for CBD manufacturers to meet the UK’s deadline for having a validated EU novel food application in hand, two European hemp associations are pooling resources to meet the application’s requirements.
The assistance on offer from the European Industrial Hemp Association in Germany and the Association for the Cannabinoid Industry in the UK highlights the urgency with which suppliers and processors need to move if they hope to be selling cannabidiol supplements and foodstuffs on the British market early next year.
That’s because the UK’s Food Standards Agency (FSA) set a deadline of March 31, 2021, for industry players to gather data on their CBD products and have their novel food applications validated by EU authorities.
The legality of CBD products in the European Union became murky in January 2019, when EU authorities classified all hemp extracts and hemp-derived products containing CBD and other cannabinoids as “novel foods.â€
The designation means that manufacturers need to have their CBD supplements and edible products evaluated and seek permission from EU authorities to place them on the market.
EIHA
European Industrial Hemp Association members agreed last year to submit a joint novel foods application with “a range of CBD extracts†to UK and EU authorities. The group said in February it was receiving membership applications “on almost a daily basis†from interested parties.
This week, the EIHA confirmed a report that revealed the scope and costs associated with its joint novel foods application. The association told Hemp Industry Daily:
An EIHA task force is in the process of choosing four formulations of CBD to be consolidated into one novel food application. The formulations will be finalized at the EIHA general meeting in June.
The joint application project, organized as a limited liability company, will cost at least €2 million ($2.16 million). The EIHA estimates that the required lab analysis of CBD and THC toxicology studies alone will cost €1.8 million ($1.94 million).
The group plans to launch the toxicology studies in June.
The cost of joining the consortium is estimated at €10,000 to €50,000 ($10,800 to $54,000), depending on the size of the company and when it joins. Regular EIHA members will be asked to pay the consortium cost in two installments, with the first next month.
This one-time cost comes in addition to the cost of a regular EIHA membership, which ranges from €2,500 to €10,000 ($2,700 to $10,800), depending on company revenue.
All companies that join the EIHA are obliged to join the novel foods consortium.
The association declined to say how much of the necessary funding for lab tests and toxicology evaluations has been raised so far.
Lorenza Romanese, managing director at the EIHA, said companies outside the European Union can join its novel foods consortium and would be eligible to sell products on the EU market if the joint application achieves authorization.
ACI
The UK’s Association for the Cannabinoid Industry announced this week a free hotline for CBD manufacturers with questions about the novel food application process.
The group also offers paid consulting services for individual applications.
The ACI’s approach pools resources for the data-generation phase while taking an individualized approach for each company’s application. The effort aims to help companies get the research they need, said Shomi Malik, ACI’s development director.
“The most expensive part of this isn’t writing the dossier, it’s generating the data,†Malik said.
“The best of both worlds is to share the costs of the real heavy lifting but still give companies the freedom to do their own individual applications. That’s what we’re trying to do here.â€
The ACI estimates that the cost for the toxicology study alone – the portion it’s looking to syndicate – will cost around £250,000 ($309,000). A full toxicology assessment takes seven to eight months to complete, ACI said, followed by an extra month to generate the data report.
The group said its application consulting services could cost anywhere from €50,000 to €500,000 ($54,000 to $540,000), depending on the size of the company and the number of finished products requiring novel foods authorization.
Malik applauded the EIHA for its collective application option, which he said might appeal to CBD players who haven’t budgeted the financial resources required for an individual application.
“Now that ‘novel foods’ is a binary proposition – you’re either in or you’re out – companies have had to find budgets from somewhere,†he said. “Their objective is to do this the quickest and cheapest way possible.â€
On the other hand, in the event that a collective novel foods application is authorized, parties to the application run the risk of finding themselves in a “regulatory straitjacket†not to deviate from those formulations. This could hinder industry innovation, Malik said.
“You’re in a much better position if you’ve got your own novel food authorization, than if you have to share and compromise with some aspects on the data sharing,†Malik said.
Clock is ticking
Whichever path companies choose, it’s time to start the process for any products they want to keep on the shelves next year, said Garrett Graff, an attorney at Hoban Law Group who advises companies doing business in Europe and the UK.
“It’s important that folks get started now,†Graff told Hemp Industry Daily.
“This is not a commonplace application that takes a couple hours. This will take considerable amounts of planning, coordination, time and financial resources to complete, and engaging as quickly as possible given the forthcoming deadline is important.â€
Posted by AGORACOM-JC
at 8:16 AM on Wednesday, May 6th, 2020
Quebec government recently announced that, effective May 11, 2020, it will begin easing its Covid-19 related restrictions on business operations in the province
Subject to the implementation of said easing measures, NORTHBUD intends to commence scaling its Quebec production accordingly
TORONTO, May 06, 2020 — North Bud Farms Inc. (CSE: NBUD) (OTCQB: NOBDF) (“NORTHBUD” or the “Company“) is pleased to provide shareholders with the following corporate update:
Quebec Cultivation Facility
Easing of Covid-19 Restrictions
The Quebec government recently announced that, effective May 11, 2020, it will begin easing its Covid-19 related restrictions on business operations in the province. Subject to the implementation of said easing measures, NORTHBUD intends to commence scaling its Quebec production accordingly, and has advised its suppliers that it will be ready to receive starting materials quickly upon implementation of the easing measures.
Outdoor Cultivation Licence Application Status
With respect to the Company’s previously disclosed intention to apply for an amendment to its existing cultivation licence at its Quebec facility to allow for outdoor cultivation, the Company is pleased to announce that it has submitted to Health Canada all required materials and documentation for the aforementioned licence amendment, and it now awaits the issuance of a licence to allow for a proposed 1 million square feet of outdoor production. “With the underlying fundamentals and low-cost capacity of our Quebec facility, especially with the expected addition of outdoor capacity, we believe this facility has the potential to add value and we continue to explore collaborations with companies who have established distribution channels and who are relying on the volatile wholesale market to fulfill their cultivation needs,†said Ryan Brown, the Company’s Executive Chairman and Interim CEO. “Management is encouraged by the amount of interest being shown for potential collaborations and will update shareholders when there are any material developments on this front.â€
To date the Company has signed a letter of intent to supply product to a licensed distributor, and is actively negotiating additional supply contracts with other parties. Securing these supply agreements is expected to provide the Company with further insight into revenue potential and operating capital required for its Quebec facility. While the Company has initiated operations at its Quebec facility, currently the Company does not have sufficient working capital and financial resources to commercialize the full capacity of its Quebec facility.
Furthermore, in light of current market conditions, the Company is exploring options to extend its cash runway to further operations, including with respect to staffing decisions.
U.S. Operations
The Company also announces that it has signed a non-binding letter of intent to sell all the shares of its U.S. subsidiary, Bonfire Brands USA, Inc. (“BBUSAâ€), to an entity controlled by Mr. Justin Braune, the President of BBUSA. The proposed transaction is expected to close on or before May 15, 2020, and would constitute a related-party transaction as defined in Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101â€). The proposed transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as the fair market value of the shares of BBUSA proposed to be sold to the acquiror does not exceed 25% of the Company’s market capitalization. This determination is based upon the fact that the value of the net assets of BBUSA is negligible as the assets acquired were, and continue to be, highly leveraged. In light of the current market conditions, it is no longer economically viable for the Company to continue to try to sustain and develop these assets.
Under the terms of the proposed transaction, which remain subject to the negotiation of a definitive share purchase agreement and customary closing conditions and approvals, the acquiring party will become responsible for and guarantee all of BBUSA’s past and future liabilities and capital requirements, including all of the outstanding intercompany debts owed to NORTHBUD. The acquiror will also retain rights to the name “Bonfire Brands†and the Company will no longer proceed with the change of name and symbol that was approved at the last shareholder meeting. Final terms of the proposed transaction will be announced upon the signing of the definitive agreement.
“The structure of this proposed transaction represents the furtherance of the Company’s previously-announced plan to remove its direct exposure to the U.S. cannabis sector in order to eliminate the increasing administrative and capital costs associated with such holdings. Subject to the structuring of the definitive agreement, this proposed transaction would also significantly reduce dilution of shareholders of the Company by eliminating the need to issue additional shares of NORTHBUD related to the U.S. acquisitions,†said Ryan Brown, NORTHBUD’s Executive Chairman and Interim CEO. “We look forward to the successful completion of this deal to divest our U.S. holdings, which will significantly improve the Company’s balance sheet and available cash flow, a key Company objective in light of the difficult economic climate brought on by Covid-19.â€
About North Bud Farms Inc.
NORTHBUD owns and operates, through its subsidiaries, licensed cannabis facilities in Canada, California and Nevada. Bonfire Brands USA, the Company’s U.S. subsidiary, acquired cannabis production facilities in Salinas, California and Reno, Nevada in late 2019. The Salinas, California 11-acre farm is actively cultivating cannabis in its 60,000 sq. ft. of licensed greenhouse production space. The Reno, Nevada facility, located on 3.2 acres of land, was acquired through the acquisition of Nevada Botanical Science, Inc., and includes a world-class cannabis production, research and development facility with 5,000 sq. ft. of indoor cultivation space which holds medical and adult-use licenses for cultivation, extraction and distribution. Through its Canadian subsidiary, GrowPros MMP Inc., the Company built and owns a state-of-the-art purpose-built cannabis production facility located on 135 acres of agricultural land in Low, Quebec, Canada. The Low, Quebec facility currently has 24,500 sq. ft. of licensed indoor cultivation space; the Company expects to submit its licence application to Health Canada for an additional 1,000,000 sq. ft. of outdoor cultivation space in the near future.
For more information visit: www.northbud.com.
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking Statements
Certain statements and information included in this press release that, to the extent they are not historical fact, constitute forward-looking information or statements (collectively, “forward-looking statementsâ€) within the meaning of applicable securities legislation. Forward-looking statements, include but are not limited to those identified by the expressions “anticipateâ€, “believeâ€, “planâ€, “estimateâ€, “expectâ€, “intendâ€, “mayâ€, “should†and similar expressions to the extent they relate to the Company or its management.
Forward-looking statements, including but not limited to, those regarding the timing of the Company’s filing of its year-end and quarterly financial statements, U.S. and Canadian strategies, the success of the Company’s licence application with Health Canada, the Company’s ability to close its proposed sale of BBUSA, the Company’s ability to execute its strategic plan, conditions in the cannabis market, the Company entering agreements in connection with the B2B supply of cannabis and the Company’s transition into a revenue-generating operational phase of development are based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect.
Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the risk factors included in the Company’s final long form prospectus dated August 21, 2018, which is available under the Company’s SEDAR profile at www.sedar.com. Accordingly, readers should not place undue reliance on any such forward-looking statements. Further, any forward-looking statement speaks only as of the date on which such statement is made. New factors emerge from time to time, and it is not possible for the Company’s management to predict all of such factors and to assess in advance the impact of each such factor on the Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. The Company does not undertake any obligation to update any forward-looking statements to reflect information, events, results, circumstances or otherwise after the date hereof or to reflect the occurrence of unanticipated events, except as required by law including securities laws. This news release does not constitute an offer to sell or a solicitation of any offer to buy any securities of the Company.
FOR ADDITIONAL INFORMATION, PLEASE CONTACT:
North Bud Farms Inc. Edward Miller VP, IR & Communications Office: (855) 628-3420 ext. 3 [email protected]
Posted by AGORACOM
at 11:05 AM on Tuesday, May 5th, 2020
VANCOUVER, BC / ACCESSWIRE / May 5, 2020 / Mota Ventures Corp. (CSE:MOTA)(FSE:1WZ1)(OTC PINK:PEMTF) (the “Company“) is excited to announce for the month of April, it acquired 17,996 new customers. This represents an increase of 48% compared to April 2019. In April, the Company also experienced strong demand from customers enrolling in a subscription, totaling of 14,091 new subscribers during the month. This represents a new subscriber increase of 78% compared to April 2019.
The Company’s Natures Exclusive brand offers a CBD hemp-oil formulation intended to provide users with the therapeutic benefits that hemp may offer. The hemp oil used in the products is derived from hemp grown and cultivated in the United States. The extraction process is designed to maintain all the beneficial qualities that hemp may offer. Natures Exclusive offers a range of products, which include CBD oil drops, CBD gummies, CBD pain relief cream, CDB skin serum and CBD coffee.
“We continue to see strong consumer demand for our entire range due to our concentrated customer acquisition efforts and by providing compelling products our customers are asking for. Our April new customer acquisition and subscription numbers are continued evidence of the strength of the business. Additionally, I am excited about our recent launch of a CBD hand sanitizer product and anticipate we will see very strong sales through this current quarter,” stated Ryan Hoggan, CEO of the Company.
The Company also announces that it has granted 7,995,000 incentive stock options to certain directors, officers and consultants of the Company. The options vest immediately, and are exercisable at a price of $0.30 for a period of 60 months. The options are governed by the terms of the Company’s incentive stock option plan, and the policies of the Canadian Securities Exchange.
About Mota Ventures Corp.
Mota Ventures 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 Nature’s Exclusive brand. Within Europe, its Sativida 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
Posted by AGORACOM-JC
at 8:42 AM on Tuesday, May 5th, 2020
Received a licence from the Alberta Gaming, Liquor and Cannabis commission to open its first store in Calgary, Alberta
It is anticipated that the store, located at 104-58th Ave, SE, suite 140 Calgary, Alberta and operate as SPDR Cannabis,
Will open in the month of June.
Vaughan, Ontario–(May 5, 2020) – Spyder Cannabis Inc. (TSXV: SPDR) (“Spyder” or the “Company“) and its wholly-owned associated applicants, The Green Spyder Inc. and Spyder Cannabis Subco Inc., is pleased to announce that it has received a licence from the Alberta Gaming, Liquor and Cannabis commission (the “AGLC”) to open its first store in Calgary, Alberta. It is anticipated that the store, located at 104-58th Ave, SE, suite 140 Calgary, Alberta and operate as SPDR Cannabis, will open in the month of June. It will offer a full assortment of cannabis products from licenced producers.
“We are excited to open our first licenced cannabis store in Calgary, Alberta, a province which led the way in the rollout of the Canadian cannabis market. The store is ideally located in a busy hub of commercial retail establishments”, said Daniel Pelchovitz Spyder’s President & CEO. “We very much look forward to bringing the Spyder brand and retail experience focus to Calgary”.
About Spyder Cannabis Inc.
Spyder is a Cannabis, Vape and CBD retailer that operates in jurisdictions where the products are federally legal in both Canada and the United States. The Company, through its subsidiaries, is a retailer involved in the development of three retail business units. The first is the sale of Cannabis products, the second is the sale of CBD in the United States only, the third is the sale of smoking cessation products in Ontario.
Cautionary Statements
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.
This news release includes statements containing certain “forward-looking information” within the meaning of applicable securities laws (“forward-looking statements”). Forward- looking statements are frequently characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur.
FOR ADDITIONAL INFORMATION, PLEASE CONTACT:
For more information, please contact:
Spyder Cannabis Inc. Dan Pelchovitz President & Chief Executive Officer Telephone: 1.888.504.7737 Email: [email protected]
Tags: Cannabis, CBD, CSE, Hemp, Marijuana, stocks Posted in Spyder Cannabis Inc. | Comments Off on Spyder $SPRD.ca Announces Licence to Open #Cannabis Retail Store in Calgary, Alberta $CGC $ACB $APH $CRON.ca $OGI.ca
Posted by AGORACOM-JC
at 9:00 PM on Sunday, May 3rd, 2020
SPONSOR: Hollister Biosciences Inc. (HOLL:CSE) A vertically integrated cannabis company with products in 220 California dispensaries and joint ventures, licensing agreement & partnerships with global brands. The company recently closed $20 MILLION deal with Venom Extracts adding $CDN 16.4 million in revenue and $CDN 2.48 million in EBITDA. Learn More
Israel Researchers Launch Clinical Trials To Test CBD As COVID-19 Treatment Supplement
Israeli researchers have launched three clinical trials that utilize CBD’s anti-inflammatory properties as potential COVID-19 treatment.
Israeli scientists have launched clinical trials into whether cannabis can play an effective role in stopping or slowing the coronavirus
Though lung health experts have warned smoking marijuana could exacerbate COVID-19 and its spread, Israeli scientists will study cannabidiol (CBD) alongside existing treatment options as a possible solution
Israeli scientists have launched clinical trials into whether cannabis can play an effective role in stopping or slowing the coronavirus. Though lung health experts have warned smoking marijuana could exacerbate COVID-19 and its spread, Israeli scientists will study cannabidiol (CBD) alongside existing treatment options as a possible solution.
Last week, InnoCan Pharma announced a collaboration with Tel Aviv University to instill CBD medicine through exosomes — or the small cell structures created when stem cells multiply. The unconventional method will utilize the exosomes as “homing missiles,†as they can uniquely target cell organs damaged by COVID-19. Researchers then believe CBD’s anti-inflammatory properties will repair the damaged cells through a synergistic effect. As COVID-19 attacks the respiratory system, scientists will have patients receive CBD-enriched exosomes through an inhalation device. Previous studies have shown CBD can help regulate the body’s immune system and reduce inflammation throughout the body.
A second clinical trial will occur over the coming weeks and includes 10 Covid-19 patients currently undergoing treatment in Israel’s Rabin Medical Center. Doctors will combine traditional steroids and CBD, with the belief CBD will enhance the therapeutic potential of the steroids. The trial, conducted by Stero Biotechs in collaboration with Mor Research Application, already has plans to expand treatment to 40 additional patients should it prove successful.
“We estimate that our CBD-based treatment can enhance the current treatment of those patients who are in life-threatening conditions,†Stero Biotechs founder and CEO David Bassa said in a statement. “Hospitalized COVID-19 patients are mostly being treated with steroids and our study is planned to demonstrate the benefit of a combined solution with Steroid treatments. We are hopeful that this study will lead to faster benefit for the growing number of COVID-19 patients in Israel and around the world.â€
A third study, launched by Tel Aviv’s Ichilov Medical Center, will investigate whether CBD’s anti-inflammatory properties could lower respiratory symptoms experienced in moderate COVID-19 patients.
Canadian researchers have also announced intentions to study what role cannabis can play in slowing COVID-19. They also believe marijuana’s anti-inflammatory properties could provide a crucial role in potential treatment.
Posted by AGORACOM-JC
at 8:15 AM on Thursday, April 30th, 2020
Company has now closed its acquisition of AlphaMind Brands Inc., a growth stage company, that is developing a portfolio of certified legal mushroom based natural health products
Hollister will not be assuming any long-term debt; no new control position will be created and there is no change in management or the Board of Directors of Hollister in connection with the Transaction
VANCOUVER, April 30, 2020 - Hollister Biosciences Inc. (CSE: HOLL, FRANKFURT: HOB, OTC: HSTRF) (the “Company” or “Hollister“) – a diversified cannabis branding company with products in over 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 acquisition of AlphaMind Brands Inc. (“AlphaMind“), a growth stage company, that is developing a portfolio of certified legal mushroom based natural health products (the “Transaction“).
“We are very pleased to close our acquisition of AlphaMind”, shared Carl Saling, Founder and CEO of Hollister. “It is our continual objective to broaden our product scope and Alphamind, with its experienced management team, is a perfect foothold for us in the fast-growing market for medicinal mushrooms and complements our existing cannabis and hemp-based product offering. We are excited to bring another promising brand under the Hollister umbrella, especially in such a fast growing and exciting sector.”
“We are very pleased to have closed this transaction”, shared Dr. Nikos C. Apostolopoulos, Chief Product & Research Officer of Alphamind Brands. “We are looking forward to working with Hollister to build out our medicinal mushroom based product line and conducting further R&D to develop an exciting IP portfolio surrounding psilocybin based pharmaceutical treatments.”
Key Terms of The Transaction
Pursuant to the terms of the SEA, the Company has acquired AlphaMind for consideration of CDN$1,200,000 which is being satisfied by the issuance of 4,200,000 Hollister common shares (the “Payment Shares“) on the Closing Date pro rata to the shareholders of AlphaMind and an additional 1,800,000 common shares (the “Earn-Out Shares“) to be issued pro rata to the former shareholders of AlphaMind on the earlier of (i) AlphaMind meeting certain milestones (detailed below) or (ii) December 31st, 2021.
The Payment Shares and the Earn-Out Shares will be issued at a deemed value of $0.20 per share;
The Payment Shares are subject to certain voluntary hold periods as follows: 331/3% until May 30th, 2020; an additional 331/3% until June 30th, 2020; and the remaining 331/3% until August 30th, 2020;
The Earn-Out Shares will be issued on the earlier of (i) December 31st, 2020, or (ii) upon AlphaMind’s first production run or its first sales of product.
Hollister will not be assuming any long-term debt; no new control position will be created and there is no change in management or the Board of Directors of Hollister in connection with the Transaction.
About AlphaMind Brands Inc.
Alphamind Brands is a Canada and US based growth stage company, that is developing a portfolio of certified legal mushroom based natural health products. It is also actively conducting R&D initiatives, led by Dr. Nikos C. Apostolopoulos, who is exploring psilocybin based pharmaceutical treatments. The company’s “ready to ship” product SKU’s include Cordyceps, Lion’s Mane, Shiitake, Oyster and Reishi Mushroom based: liquid tinctures, concentrated mushroom powder(s), teas, and chocolate.
About Hollister Biosciences Inc.
Hollister Biosciences Inc. is a multi-state cannabis company with a vision to be the sought-after premium brand portfolio of innovative, high-quality cannabis & hemp products. Hollister uses a high margin model, controlling the whole process from manufacture to sales to distribution or seed to shelf. Products from Hollister Biosciences Inc. include HashBone, the brand’s premier artisanal hash-infused pre-roll, along with concentrates (shatter, budder, crumble), distillates, solvent-free bubble hash, pre-packaged flower, pre-rolls, tinctures, vape products, and full-spectrum high CBD pet tinctures. Hollister Cannabis Co. additionally offers white-labeling manufacturing of cannabis products. Our wholly-owned California subsidiary Hollister Cannabis Co is the 1st state and locally licensed cannabis company in the city of Hollister, CA birthplace of the “American Biker”.
The CSE does not accept responsibility for the adequacy or accuracy of this release.
The CSE has not in any way passed upon the merits of the Transaction and has neither approved nor disapproved the contents of this press release.
The securities to be issued in connection with the Transaction have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “1933 Act“), or under any state securities laws, and may not be offered or sold, directly or indirectly, or delivered within the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) absent registration or an applicable exemption from the registration requirements. This news release does not constitute an offer to sell or a solicitation to buy such securities in the United States.
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
Posted by AGORACOM
at 2:25 PM on Wednesday, April 29th, 2020
SPONSOR: Mota is seeking to become a vertically integrated global CBD brand. Mota is creating sales channels and a distribution network internationally through the acquisition of the Sativida and First Class CBD brands. Low cost production, coupled with international, direct to customer sales channels will provide the foundation for the success of Mota. Combined total sales of almost $29,000,000 with a EBITDA of approximately 12.5% (2019) . Click Here for More Info
CBD oil is increasingly acclaimed for its benefits. Use as an e-liquid for vaping, but also as a dietary supplement to fight against stress or depression, CBD is everywhere.
Find out what its benefits are, how to consume it, and where to find it.
With some of the best online suppliers in Europe, British users can now easily find and order CBD flowers in UK. It has simplified the way to purchase high-quality CBD online, and we can now enjoy the best CBD oils.
What is CBD oil?
CBD, or cannabidiol, is part of the family of cannabinoids, a group of molecules found in the hemp plant, such as THC or CBD. We all have so-called cannabinoid receptors in our brains, which explains why these compounds have a more or less significant impact on the human nervous system.
CBD oil is extracted from the cannabis plant. It contains mostly cannabidiol, the concentration of which varies depending on the product. Today it is mainly used as an e-liquid for electronic cigarettes, as CBD oil to add in food and drinks, and CBD capsules.
While the hemp plant has been cultivated for over 6.000 years in China, it is only today that CBD oil is becoming more and more popular, as scientists discover many benefits for our organism. Indeed, unlike THC, another cannabinoid, CBD does not have psychotropic properties. For this reason, cannabidiol is also called “therapeutic cannabisâ€!
What are the effects of CBD oil?
Unlike THC, the effects of CBD oil are not harmful to our nervous system. CBD does not cause a feeling of intoxication or euphoria, unlike THC, and therefore no loss of control.
Conversely, it offers a feeling of serenity and a sense of relaxation. CBD is also found in recognized drugs like Cannador, Sativex, or Epidiolex.
To start with, CBD oil can help you fall asleep. If it does not have the effect of a sleeping pill, it will, however, cause your body to relax to promote falling asleep indirectly.
Likewise, CBD oil can help you not only to combat stress but also to regulate your mood. Indeed, CBD acts in particular on receptors linked to anxiety. For this reason, it is reputed to be a powerful anxiolytic and is effective in treating depression.
Note that paradoxically, CBD oil can help you fight against drug addiction since it will promote emotional balance while helping you overcome anxiety and stress, often overwhelming during withdrawal.
Finally, CBD oil can be used as an anti-inflammatory, especially in the case of Crohn’s disease, a chronic inflammatory disease of the digestive system.
How should you use CBD oil?
CBD oil is consumed orally, by placing 1 to 2 drops on your tongue or by adding them to your food or drink. The bottles sold are therefore often equipped with a pipette. After swallowing the CBD oil drops, leave it on for 30 seconds before continuing to eat or keep busy.
Please note, it is essential not to exceed 3 doses per day. If you take too much CBD oil, you risk increasing the relaxing effects and wanting to sleep! The ideal is to start with a low dosage and increase it gradually if you support it.
Also, CBD oil is not recommended for pregnant women.
Is CBD oil legal in the UK?
Cannabis derivatives do not have an outstanding reputation, in particular, because of THC, the compound which has psychotropic effects. European legislation is therefore relatively strict with cannabidiol. For example, any product containing THC is prohibited if the THC level exceeds 0.2 %.
However, products from Cannabis sativa seeds and stems are not prohibited in the UK, which explains why most of the CBD oils currently on sale come from them. Despite everything, CBD oil remains banned for minors. No law has been enacted regarding CBD oil, but case law prevails until European law issues an opinion on the subject, not always in a pleasant manner!
Where to buy CBD oil?
CBD-based products are very numerous: crystals (the purest form) for culinary preparations or other uses of this type, oil, e-liquid for electronic cigarettes, CBD flowers, CBD resins, etc. You will, therefore, have no harm to find CBD for your consumption.
On the Internet, you will mainly find CBD oil, as on the online store. You will find a whole lot of websites that are claiming to sell the best CBD products. However, you should only buy the best quality of CBD flowers and CBD oils.
Check websites such as Justbob.shop to find the right CBD products. As a leading company in Europe, this supplier from Italy is offering natural CBD flowers and great CBD oils. Also, they are following a set of many quality controls, and they are recognized by the Italian authorities, which means that they are well-known and that they are complying with local and European laws.
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