Posted by AGORACOM-JC
at 9:11 AM on Wednesday, March 11th, 2020
Announced the launch of its NORTHBUD branded products into select retailers in Nevada, USA.Â
The products are manufactured through NORTHBUD’s ownership and operating agreement with Nevada Botanical Sciences, Inc., who is licensed for cultivation, manufacturing and distribution
NORTHBUD products will be available in both dried flower and pre-roll formats under the NORTHBUD White, Black and Platinum brands.
TORONTO, March 11, 2020 – North Bud Farms Inc. (CSE: NBUD) (OTCQB: NOBDF) (“NORTHBUD” or the “Company“) is pleased to announce the launch of its NORTHBUD branded products into select retailers in Nevada, USA. The products are manufactured through NORTHBUD’s ownership and operating agreement with Nevada Botanical Sciences, Inc. (“NBSâ€), who is licensed for cultivation, manufacturing and distribution.
NORTHBUD Nevada Launch Strategy Update Prior
to its asset purchase transaction with NORTHBUD, previously announced
on November 19, 2019, NBS had been exclusively servicing white label
customers. Over the past 3.5 months, NBS and NORTHBUD have transitioned
the Nevada operations to focus on NORTHBUD branded flower products,
culminating with the recent launch of NORTHBUD Black 9 Lbs Hammer
(Jinxproof phenotype) in 1 gram, 3.5 gram and 7 gram formats to select
retailers in Reno, Nevada.
Over the coming weeks, the Company intends to expand distribution to
multiple retailers in Northern Nevada and Las Vegas. NORTHBUD products
will be available in both dried flower and pre-roll formats under the
NORTHBUD White, Black and Platinum brands.
With over 45 million visitors a year from all over the world, Nevada
is a key market for building an internationally recognized brand, and
the Company believes that it is the ideal market for the launch of its
NORTHBUD products. The Nevada market is considered one of the largest
and most profitable in North America with recreational sales of USD$580
million in the first full year of legalization (2017 Nevada Dept. of
Taxation).
“The NORTHBUD and Bonfire Brands USA team are extremely proud to have
launched our own branded products, making the state of Nevada our
strategic entry point into the U.S. legal cannabis market,†said Sean
Homuth, CEO of NORTHBUD. “We believe the NORTHBUD brand will offer a
unique variety of products curated for experienced consumers who demand
appropriately priced, high-quality cannabis flower.â€
About North Bud Farms Inc. NORTHBUD,
through its U.S. subsidiary Bonfire Brands USA, has acquired cannabis
production facilities in California and Nevada. The Salinas, California
11-acre farm is actively cultivating cannabis in its 60,000 sq. ft. of
licensed greenhouse production space, and also has active distribution
and processing licenses. The Reno, Nevada property contains a
world-class cannabis production, research and development facility with
5,000 sq. ft. of indoor cultivation, and holds medical and adult-use
licenses for cultivation, extraction and distribution. Through its
wholly-owned Canadian subsidiary, GrowPros MMP Inc., the Company is
pursuing a license under The Cannabis Act, to cultivate in its
state-of-the-art purpose-built cannabis production facility located on
135 acres of agricultural land in Low, Quebec, Canada.
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 Company’s Nevada strategy, the success of the Company’s
licence application with Health Canada, 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]
Tags: Cannabis, CBD, CSE, Hemp, Marijuana Posted in All Recent Posts, Featured | Comments Off on North Bud Farms $NBUD.ca Launches its NORTHBUD Branded Products in Nevada, USA $CGC $ACB $APH $CRON.ca $OGI.ca
Posted by AGORACOM-JC
at 7:02 AM on Wednesday, March 11th, 2020
Entered into a letter of intent on March 9th, 2020 to acquire Alphamind Brands
Company developing legal mushroom based natural health products and conducting R&D in conjunction with accredited universities to develop psilocybin based compounds for drug development
All stock purchase price is anticipated to be CDN$ 1,200,000 with such payment to be made in Hollister common stock
VANCOUVER, March 11, 2020 – Hollister Biosciences Inc.(CSE: HOLL, FRANKFURT: HOB, OTC: HSTRF) (the “Company” or “Hollister“) – a diversified cannabis branding company with products in 220 dispensaries throughout California, is pleased to announce that the Company has entered into a letter of intent (the “LOI“) on March 9th, 2020 to acquire Alphamind Brands ( “Alphamind“), a company developing legal mushroom based natural health products and conducting R&D in conjunction with accredited universities to develop psilocybin based compounds for drug development.
The all stock purchase price is anticipated to be CDN$ 1,200,000 with such payment to be made in Hollister
common stock. The stock price will be determined based on the greater
of the 14-day VWAP (Volume Weighted Average Price) subsequent to
announcing the transaction and $0.20. The acquisition is subject to normal course due diligence.
“We are very pleased to have entered into an LOI to complete this very exciting acquisition”, shared Carl Saling,
Founder and CEO of Hollister Biosciences Inc. “It is a fundamental
value of our company to improve the overall health and performance of
our customers through our high-quality products and the health benefits
associated with medicinal mushrooms are tremendous. Not to mention, 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.”
“I think we have found a great partner in Hollister”, shared Robert Birmingham,
CEO of Alphamind Brands. “We have medicinal mushroom based product
SKU’s ready to ship and R&D is underway to develop an exciting IP
portfolio surrounding psilocybin based pharmaceutical treatments. Being
under the Hollister umbrella will allow us to access
additional markets and leverage their existing manufacturing and
distribution infrastructure and will be a fundamental part of the future
growth of our business.”
In association with the arm’s length transaction, Hollister will not be assuming any long-term debt and there is no change in Management, or the Board of Directors of Hollister being contemplated at this time.
About Hollister Biosciences Inc.
Hollister Biosciences Inc. is a diversified cannabis company with
multiple, high-quality products now carried in 220 of Indus Holdings
(CSE: INDS), Hollister’s exclusive
distribution partner’s 600 dispensaries. This level of penetration is
expected to grow as the Company accelerates its seed to shelf, high
margin business and product development model.
Capitalizing on this success, Hollister’s vision is to
become the sought-after premium brand portfolio of innovative, high
quality cannabis across multiple states and hemp products nationwide.
Our wholly owned California subsidiary, Hollister Cannabis Co, is the 1st state and locally licensed Cannabis Company in the City of Hollister, California,
the birthplace of the “American Biker” from which we embrace the outlaw
roots of Hollister to drive our Company fearlessly down the road of
success.
Products from Hollister Cannabis Co. include HashBone, the brand’s
premier artisanal hash-infused pre-roll ranked as California’s #1 hash
infused pre-roll, along with solvent-free bubble hash, pre-packaged
flower, pre-rolls, tinctures, vape products, and full-spectrum high CBD
pet tinctures.
Alphamind Brands is a Canada and US based growth stage
company developing a portfolio of legal mushroom based natural health
products as well as conducting R&D initiatives, led by Dr. Nikos Apostolopoulos,
to explore psilocybin based pharmaceutical treatments. The company’s
“ready to ship” product SKU’s include cordyceps, lion’s mane, chaga and
reishi mushroom based: liquid cordyceps, concentrated mushroom powder,
tea, chocolate. The company’s product SKU’s under development include
syrups, elixirs, cold beverages and nasal spray.
Neither the Canadian Securities Exchange nor its Market Regulator
(as that term is defined in the policies of the Canadian Securities
Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Forward-Looking Information: This news release includes certain
statements that may be deemed “forward-looking statements”. The use of
any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”,
“will”, “would”, “project”, “should”, “believe” and similar expressions
are intended to identify forward-looking statements. Although the
Company believes that the expectations and assumptions on which the
forward-looking statements are based are reasonable, undue reliance
should not be placed on the forward-looking statements because the
Company can give no assurance that they will prove to be correct. Since
forward-looking statements address future events and conditions, by
their very nature they involve inherent risks and uncertainties. These
statements speak only as of the date of this News Release. Actual
results could differ materially from those currently anticipated due to a
number of factors and risks including various risk factors discussed in
the Company’s disclosure documents which can be found under the
Company’s profile on www.sedar.com
Posted by AGORACOM
at 12:08 PM on Tuesday, March 10th, 2020
SPONSOR: Mota is seeking to become a vertically integrated global CBD brand. Mota is looking to establish 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
Over
the next five years, the global CBD market is expected to accelerate to
$23.6bn, according to Grand View Research and Europe’s CBD market is
set to grow by 400%.
The growth of the CBD market in Europe is thanks to the growing adoption of CBD infused products in industries such as pharmaceuticals, personal care, cosmetics, nutraceuticals, along with medical applications.
CBD is seeing monumental demand in Europe. In Europe alone, the
market is on course to grow 400% over the next four years, according to
the Brightfield Group.
The legal cannabis industry continues to expand around the world with
major contribution to the market coming from continuous legislative
victories in North America and Europe. In particular, legalisation of
medical cannabis, and decriminalisation in some countries, has led to a
significant decrease in black-market activity, as people are shifting to
legally purchasing cannabis for medical as well as recreational use.
In the meantime, local governments reap the benefits through
taxation. For instance, the state of California had collected a total of
$345.2m in tax revenue from legal cannabis during the first year of
regulated sales in 2018. Revenue generated from these taxes encouraged
the local governments to fund several development programmes for
education and infrastructure.
Medical cannabis
Overall, data by Grand View Research
indicates that the medical segment held the dominant revenue share of
the cannabis market, accounting for 71.0% in 2019. Medical use of
cannabis is strictly categorised as a medicine prescribed by a physician
and the distribution of these medicines is regulated by the government.
However, by 2027, adult-use is expected to become the fastest-growing
segment with adult-use products ranging from a highly potent concentrate
to a simple food ingredient.
In recent years, CBD products have swiftly emerged and the growth of
the CBD market is largely attributed to various medical applications
that are associated with the products. For example, full-spectrum CBD
oil is considered to be a great source of Omega 3 and Omega 6; Omega 3
plays a vital role in creating hormones that regulate inflammation as
well as contractions and relaxation of arteries.
Posted by AGORACOM-JC
at 4:32 PM on Monday, March 9th, 2020
SPONSOR: NORTHBUD (NBUD:CSE)
Sustainable low cost, high quality cannabinoid production and
procurement focusing on both bio-pharmaceutical development and
Cannabinoid Infused Products. Learn More.
Legal pot industry more than doubles contribution to Canada’s GDP since legalization: StatsCan
Canada’s cannabis industry represented $7.24 billion to the country’s gross domestic product in December
Illicit cannabis market’s contribution to Canada’s GDP has fallen by over 20 per cent
The
country’s legal cannabis market represents $3.0 billion of economic
output to Canada’s GDP, an increase of 138 per cent when recreational
pot was legalized in Oct. 2018. Meanwhile, the illicit cannabis market’s
contribution to Canada’s GDP has fallen by over 20 per cent to about
$4.18 billion in that same time.
Tags: Cannabis, CBD, CSE, Hemp, Marijuana, stocks, tsx, tsx-v Posted in North Bud Farms Inc | Comments Off on NORTHBUD $NBUD.ca – Legal #pot industry more than doubles contribution to Canada’s #GDP since #legalization: StatsCan $CGC $ACB $APH $CRON.ca $OGI.ca
Posted by AGORACOM-JC
at 4:48 PM on Friday, March 6th, 2020
This highly accretive acquisition will strengthen Hollister’s brand portfolio and broaden its distribution across multiple states
For the year ended December 31, 2019, Venom Extracts reports having generated CDN$ 16.4 million in revenue and CDN$ 2.48 million in EBIDTA from its product line of Cannabis Concentrates, P.H.O Concentrates and Cartridges.
VANCOUVER, March 6, 2020 – Hollister Biosciences Inc.(CSE: HOLL, FRANKFURT: HOB, OTC: HSTRF) (the “Company” or “Hollister“) – a diversified cannabis branding company with products in 220 dispensaries throughout California, is pleased to announce the Company has entered into a definitive agreement  (the “Agreement“) on March 6th, 2020 to acquire Venom Extracts ( “Venom“), one of Arizona’s premier extract brands and one of the state’s largest producers of award-winning medical cannabis distillate and related products.
On February 25, 2020, the Company first announced a Letter of Intent to acquire Venom, including the following financial figures and terms.
HIGHLY ACCRETIVE $20,000,000 ACQUISITION
For the year ended December 31, 2019, Venom Extracts reports having generated CDN$ 16.4 million in revenue and CDN$ 2.48 million
in EBIDTA from its product line of Cannabis Concentrates, P.H.O
Concentrates and Cartridges. 2019 Revenue and EBITDA for Venom Extracts
are as reported by Management. Though Hollister believes the figures to be highly reliable, their audit will be part of the ongoing due diligence before closing.
The all stock purchase price is anticipated to be CDN$ 20,000,000,
with 70% to be paid upfront and 30% to be paid upon milestone
achievements related to revenue targets for Venom. The acquisition is
expected to close by March 31, 2020 subject to normal course due diligence.
KEY TERMS OF THE AGREEMENT:
The Company will acquire Venom Extracts for CDN$20,000,000 with such payment to be issued in Hollister common stock (the “Payment Shares“)
The stock price will be determined based on the greater of:
The 14-day VWAP (Volume Weighted Average Price) capped at $0.25 subsequent to announcing the transaction and $0.20
Once the share price is established, 70% of the Payment Shares will
be issued upon closing of the transaction, subject to hold periods
The remaining 30% of the Payment Shares will be issued when and if the following milestones have been met on or prior to December 31st, 2021:
20% (of the total number of Payment Shares) will be issued when revenue of Venom Extracts reaches CDN$ 30,000,000 (calculated in accordance with IFRS from January 1, 2020).
10% (of the total number of Payment Shares) will be issued when revenue of Venom Extracts reaches CDN$ 40,000,000(calculated in accordance with IFRS from January 1, 2020).
“We are very pleased to have entered into a definitive agreement to complete this transformational acquisition”, shared Carl Saling,
Founder and CEO of Hollister Biosciences, Inc. “Financially, we are
bolting on substantial revenue and EBITDA, while strategically, this
allows for the opportunity to bring Venom into the California marketplace and help scale Hollister’s existing operation. Likewise, it allows for the opportunity to introduce Hollister’s products into the Arizona and Nevada marketplaces to start with.”
“This is an exciting acquisition and we are happy to be taking this critical step toward closing”, shared Jacob Cohen, Founder of Venom Extracts. “This transaction represents the next step in ensuring the future growth of both Hollister and Venom. We are looking forward to increasing the geographic scope of our operation by expanding into the California marketplace through Hollister’s existing platform, as well as, exploring expansion of our existing product scope collectively.”
In association with the acquisition, Hollister will not
be assuming any long-term debt, a new control position will be created
and there is no change in Management, or the Board of Directors of Hollister being contemplated at this time.
Finder’s fees will be payable in accordance with the policies of the Canadian Securities Exchange.
This press release is available on the Company’s CEO Verified Discussion Forum, a moderated social media platform that enables civilized discussion and Q&A between Management and Shareholders.
About Hollister Biosciences Inc.
Hollister Biosciences Inc. is a diversified cannabis company with
multiple, high-quality products now carried in 220 of Indus Holdings
(CSE: INDS), Hollister’s exclusive
distribution partner’s 600 dispensaries. This level of penetration is
expected to grow as the Company accelerates its seed to shelf, high
margin business and product development model.
Capitalizing on this success, Hollister’s vision is to
become the sought-after premium brand portfolio of innovative, high
quality cannabis across multiple states and hemp products nationwide.
Our wholly owned California subsidiary, Hollister Cannabis Co, is the 1st state and locally licensed Cannabis Company in the City of Hollister, California,
the birthplace of the “American Biker” from which we embrace the outlaw
roots of Hollister to drive our Company fearlessly down the road of
success.
Products from Hollister Cannabis Co. include HashBone, the brand’s
premier artisanal hash-infused pre-roll ranked as California’s #1 hash
infused pre-roll, along with solvent-free bubble hash, pre-packaged
flower, pre-rolls, tinctures, vape products, and full-spectrum high CBD
pet tinctures.
Venom Extracts is one of Arizona’s premier extract
brands and one of the state’s largest producers of award-winning medical
cannabis distillate and related products. With an experienced
management team and unparalleled reputation for quality, Venom Extracts
prides itself as a differentiated extraction company by producing legal
Marijuana products at a price point that allows retailers to generate
higher profits. Focused on proprietary efficiencies, the Company is
able to produce more product per square foot than its competition,
maintaining lower costs and risks than a typical extraction company. The
company’s expansion strategy is centered on entering new markets/states
that are approved for medical cannabis use and/or approved or have a
reasonable expectation to be approved for recreational use in the near
future.
Neither the Canadian Securities Exchange nor its Market Regulator
(as that term is defined in the policies of the Canadian Securities
Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Forward-Looking Information: This news release includes certain
statements that may be deemed “forward-looking statements”. The use of
any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”,
“will”, “would”, “project”, “should”, “believe” and similar expressions
are intended to identify forward-looking statements. Although the
Company believes that the expectations and assumptions on which the
forward-looking statements are based are reasonable, undue reliance
should not be placed on the forward-looking statements because the
Company can give no assurance that they will prove to be correct. Since
forward-looking statements address future events and conditions, by
their very nature they involve inherent risks and uncertainties. These
statements speak only as of the date of this News Release. Actual
results could differ materially from those currently anticipated due to a
number of factors and risks including various risk factors discussed in
the Company’s disclosure documents which can be found under the
Company’s profile onwww.sedar.com.
Posted by AGORACOM
at 3:47 PM on Thursday, March 5th, 2020
SPONSOR: Mota is seeking to become a vertically integrated global CBD brand. Mota is looking to establish 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. Click Here for More Info
New Frontier Data’s second consumer report in its EU CBD series
provides a comprehensive overview of the European CBD consumer
experience
New Frontier Data,
the global authority in data, analytics and business intelligence on
the cannabis industry, publishes the second volume of its EU CBD Consumer Report Series: Segmentation & Archetypes, in partnership with Deep Nature Project and Mile High Labs.
Drawing from the groundbreaking surveying of over 3,000 European CBD
consumers across 17 European nations, this study results in the most
comprehensive consumer archetype report for European CBD consumers to
date.
“Europe’s booming consumer interest in CBD and CBD-infused products
across the Food & Beverage and Health & Beauty sectors continues
to create material B2B and B2C market opportunities. Data-driven
insights of both EU and North American CBD consumerism, drawing from not
only comparative analysis but also known geo-centric market dynamics
and drivers, helps us educate and guide brands on how to address CBD
consumer priorities while managing known or expected challenges in this
new CBD space,†said New Frontier Data Founder & CEO Giadha Aguirre
de Carcer. “This report fills a major gap in business intelligence in
the CBD industry not only in Europe, but worldwide, providing new and
existing cannabis or hemp industry stakeholders with a uniquely valuable
and timely resource.â€
Key findings from the report include:
4 of the 5 consumer archetypes have purchased CBD; the Ambivalent & Experimental Consumers instead source CBD from family and friends
The largest consumer archetype, the Integrative & Consistent Consumers, are frequent users and staunch believers in CBD’s medical efficacy
26% of Europeans aged 18-34 have tried CBD, compared to 16% of the general population
73% of self-reported consumers claimed CBD has positively affected their quality of life
A third (34%) of non-consumers are somewhat or very curious about trying CBD
49% of CBD purchasers who did not themselves consume indicated buying it for a family member
Male consumers report spending more on CBD products than female
consumers, with more than a third of men (35%) reporting spending €100
or more per month
72% of consumers and 17% of non-consumers considered themselves likely to purchase CBD in the next 6 months
Consumers who use CBD primarily for medical reasons were the most
frequent CBD consumers, with nearly half (45%) consuming it at least
daily
New Frontier Data is an independent, technology-driven analytics
company specializing in the global cannabis industry. It offers vetted
data, actionable business intelligence and risk management solutions for
investors, operators, researchers and policy makers. New Frontier
Data’s reports and data have been cited in over 80 countries around the
world to inform industry leaders. Founded in 2014, New Frontier Data is
headquartered in Washington, D.C., with additional offices in Denver, CO
and London, UK.
New Frontier Data does not take a position on the merits of cannabis
legalization. Rather, its mission and mandate are to inform
cannabis-related policy and business decisions through rigorous,
issue-neutral and comprehensive analysis of the legal cannabis industry
worldwide. For more information about New Frontier Data, please visit: https://www.NewFrontierData.com.
Posted by AGORACOM-JC
at 8:12 AM on Wednesday, March 4th, 2020
Signed a letter of intent for a master lease and operations agreement with an experienced California-licensed operator to operate the cultivation facilities at the Company’s Salinas, California farm
Cultivator will lease the Company’s cultivation facilities at its Salinas farm for 5 years, with options to extend the lease for up to an additional 5 years
Bonfire Brands USA will receive the following
consideration:
Lease payments starting at approximately USD$1 million per year in year 1, with incremental increases that could bring the annual rent to as high as USD$1.8Â million per year;
A royalty equal to 3% of the gross revenue generated by the Cultivator from its use of the Salinas farm; and
The right to acquire up to 15% of all the product harvested by the Cultivator on the farm at a discount to market rate with extended payment terms.
TORONTO, March 04, 2020 — North Bud Farms Inc. (CSE: NBUD) (OTCQB: NOBDF) (“NORTHBUD” or the “Company“) is pleased to announce that its U.S. subsidiary, Bonfire Brands USA Inc., has signed a letter of intent (the “LOIâ€) for a master lease and operations agreement with an experienced California-licensed operator (the “Cultivatorâ€) to operate the cultivation facilities at the Company’s Salinas, California farm.
Terms of the LOI
As per the terms of the LOI, the companies will work together towards
completing a definitive agreement before May 1, 2020, in which the
Cultivator will lease the Company’s cultivation facilities at its
Salinas farm for 5 years, with options to extend the lease for up to an
additional 5 years, and Bonfire Brands USA will receive the following
consideration:
Lease payments starting at approximately USD$1 million per year in
year 1, with incremental increases that could bring the annual rent to
as high as USD$1.8 million per year;
A royalty equal to 3% of the gross revenue generated by the Cultivator from its use of the Salinas farm; and
The right to acquire up to 15% of all the product harvested by the
Cultivator on the farm at a discount to market rate with extended
payment terms.
During the term of the proposed agreement, the Cultivator will be
responsible for 100% of the costs associated with staffing, operations,
licensing and compliance with respect to the farm’s cultivation
facilities; moreover, the Cultivator is committed to fund and manage the
build-out of an additional 230,000 sq. ft. of licensed cultivation
space over the first 24 months of the proposed agreement.
“Our objective when we acquired the Salinas farm was to secure access
to the high-quality, low-cost cannabis that has always been grown in
that area, known as “the salad bowl of America,†said Justin Braune,
President of Bonfire Brands USA. “This proposed agreement will allow the
Company to immediately achieve EBITDA-positive operations at our
largest facility without incurring the significant capital investments
that have debilitated many companies in our industry. By retaining
preferential purchasing terms, the Company can focus on its branded
product distribution business on the back of the estimated 40,000 pounds
of production capacity that the Cultivator will bring online over the
next 24 months.â€
Sean Homuth, NORTHBUD’s CEO added: “Partnering with a proven licensed
cultivator who has been operating in Salinas for multiple years
achieves the following objectives: it significantly de-risks our
California operations while allowing the Company to increase its asset
value; it reduces our capital expenditure requirements while still
generating significant revenue; and it builds EBITDA-positive operations
without limiting our access to a cost-efficient and reliable supply
chain on which to build our branded product portfolio within the state
of California.â€
About North Bud Farms Inc.
NORTHBUD, through its U.S. subsidiary Bonfire Brands USA, has
acquired cannabis production facilities in California and Nevada. The
Salinas, California 11-acre farm is actively cultivating cannabis in its
60,000 sq. ft. of licensed greenhouse production space, and also has
active distribution and processing licenses. The Reno, Nevada property
contains a world-class cannabis production, research and development
facility with 5,000 sq. ft. of indoor cultivation, and holds medical and
adult-use licenses for cultivation, extraction and distribution.
Through its wholly-owned Canadian subsidiary, GrowPros MMP Inc., the
Company is pursuing a license under The Cannabis Act, to cultivate in
its state-of-the-art purpose-built cannabis production facility located
on 135 acres of agricultural land in Low, Quebec, Canada.
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 closing of the definitive agreement with the Cultivator,
the success of the Company’s licence application with Health Canada, 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]
Tags: Cannabis, CBD, CSE, Hemp, Marijuana Posted in Featured, North Bud Farms Inc | Comments Off on North Bud Farms $NBUD.ca Signs Letter of Intent to Enter into Lease and Master Operations Agreement for the Cultivation Facilities at its California Farm $CGC $ACB $APH $CRON.ca $OGI.ca
Posted by AGORACOM-JC
at 8:12 AM on Tuesday, March 3rd, 2020
Adam Smith is a bad ass Green Beret with nearly 17 years of service to his country …. who put a gun in his mouth when his PTSD simply became too much to handle. Pharma drugs prescribed by doctors were actually making his problems worse and he had nowhere to turn.  Â
More than just a story, watch his 2-minute video within our video interview with him and Hollister Biosciences CEO, Carl Saling. Be prepared. Â
Thankfully, a fellow soldier told him about CBD and Smith experienced firsthand how CBD can help retired and active-duty (military and law enforcement) ease their physical and mental issues – especially those who suffer from PTSD and TBI (Traumatic Brain Injury).  Â
The results were so dramatic that Smith’s new mission was to get CBD into the hands of as many soldiers as possible. He founded Tactical Relief and the rest is history. Tactical Relief creates, promotes and sells the highest quality and “most patriotic” CBD oils in the country.  Â
Yes, it’s a great business with tremendous potential for exponential growth. But profit isn’t driving this partnership between Smith and Carl Saling, who himself became very emotional when he shared his family’s deep military roots …. and struggles with PTSD. Â
As an investor in Hollister, you’ll love what this partnership can do for the company. As a human, you’ll love what this partnership is going to do for retired and active-duty military personnel. As a host, I’ve never been more proud of two guests on AGORACOM. Â
Sit back and be prepared to watch the most powerful interview ever produced by AGORACOM.  Â
Please share this video on your social networks so that military personnel and their families can discover Tactical Relief. Â
30% Of Acquisition Price Paid If Venom Revenues Hit $30,000,000 and $40,000,000 By DEC 31, 2021
Average revenue per gram YTD 2019 $CDN 14 and will continue to increase as vape cartridge mix grows ($CDN 30 per gram)
One Of Arizona’s Largest Producers Of Award-Winning Medical Cannabis Distillate
Acquisition Expected To Close By March 31, 2020 Subject To Due Diligence
An established brand in Arizona for high quality
products in the wholesale and distillate marketplace. Venom is
leveraging its brand and success to aggressively expand into other US
states.
ACQUISITION TERMS
Hollister will acquire Venom Extracts for CDN$20,000,000 via Hollister stock
The stock price will be determined based on the greater of:
The 14-day VWAP (Volume Weighted Average Price) capped at $0.25 subsequent to announcing the transaction and $0.20
Once share price is established, 70% of the Payment Shares will be issued upon closing of the transaction
Remaining
30% of the Payment Shares will be issued when and if the following
milestones have been met on or prior to December 31st, 2021
