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.

Top 10 Marijuana Industry News Stories

Cannabis Countdown: Top 10 Marijuana Industry News Stories of the Week

Welcome to the Cannabis Countdown. In this week’s rendition, we’ll recap and countdown the top 10 marijuana industry news stories for the week of November 4th – 10th, 2019.

Without further ado, let’s get started.

10. Drake’s Next Act: “Potline Bling” Feat. Canopy Growth Corp

Multi-Platinum Recording Superstar Drake and Canopy Growth Announce New Cannabis Partnership

Drake is heading home and will own a majority stake in Toronto-based “More Life Growth”. Canopy Growth (TSX: WEED) (NYSE: CGC) will own the remaining 40% in the new fully licensed cannabis producer.

READ FULL DRAKE ARTICLE

9. Passengers Carrying Cannabis on Air Canada’s Toronto to Vancouver Flight Shocked When Plane Got Re-Routed to U.S.

Foggy Conditions Forced Flight AC 125 to Land at Seattle Airport with Some Passengers Carrying Cannabis and CBD

One legal expert gives advice to Canadians on how to handle an extraordinary situation like this.

READ FULL AIR CANADA ARTICLE

8. Mexico Has Until April 30 to Legalize Cannabis, Supreme Court Rules

That Legislation Proposed Rules Limiting Foreign Ownership, Vertical Integration and License Resale

Mexico’s Supreme Court gave Congress another six months to approve legislation that legalizes all forms of cannabis, postponing until the end of April the deadline for when the Latin American country would create the world’s largest adult-use market by population.

READ FULL MEXICO ARTICLE

7. Canopy Growth Downsizes Latin America Workforce as Region Struggles to Generate Revenue

Investors Have Sent a Clear Message They Want Companies to be More Prudent in Their Spending

One of the largest cannabis companies in the world, Canopy Growth (TSX: WEED) (NYSE: CGC), is restructuring its overseas operations by laying off 15% of its workforce in Latin America, reflecting the slow pace at which revenue-generating opportunities and regulatory structures are evolving in the region.

READ FULL CANOPY GROWTH ARTICLE

6. FDA Won’t be Hurried to Create CBD Exceptions Amid Safety Concerns

The Agency’s Biggest Concern is Whether CBD is Safe to Consume in Food and Supplements

A top official for the U.S. Food and Drug Administration (FDA) said the agency is concerned that developing a legal exception for supplements containing CBD could send the wrong message, both to companies interested in entering the market and consumers.

READ FULL FDA CBD ARTICLE

5. Ontario Business Group Wants ‘Clear Timeline’ for Cannabis Store Expansion

So Far, Ontario Has Used a Botched Lottery System to Award Licenses to Open Recreational Marijuana Stores

A group comprised of cannabis industry leaders and experts is calling on Ontario’s government to provide a more complete timetable for when retail stores will be permitted through an open allocation of licenses.

READ FULL ONTARIO ARTICLE

4. Michigan Nets 52 Adult-Use Marijuana Applications on First Day

State Regulators Expect the First License to be Issued Before the End of November

Marijuana regulators in Michigan received 52 recreational cannabis business license applications on the first day of the application period.

READ FULL MICHIGAN ARTICLE

3. Cannabis Canada: Pot Industry Added Nearly Billion to GDP in August

Cannabis Sales in Canada Expected to Double Next Year to $3.16 Billion

Canaccord Genuity cannabis analyst Matt Bottomley expects revenue in Canada’s legal pot sector to more than double next year despite slower-than-expected growth. Bottomley said in a research note to clients that Canada’s cannabis industry should expect $3.16 billion in revenue in 2020, up from the $1.46 billion forecast for 2019.

READ FULL CANADA STATS ARTICLE

2. U.S. Senate Approves Legislation Protecting State-Legal Medical Cannabis Programs from Federal Interference

Supporters Hope Similar Protection for Recreational States Will Be Included in Final Version Sent to President Trump

The U.S. Senate passed a spending bill extending a provision that protects medical cannabis states from federal interference. It’s unknown if the broader House approved protections for adult-use state cannabis programs will be included in the final version of the bill that’s passed along to President Trump.

READ FULL MMJ SENATE ARTICLE

1. Breakthrough in CDC Vape Crisis Investigation

Vitamin E Acetate Linked to THC May Be to Blame

Vitamin E acetate, an additive sometimes used in THC and other vaping products, may be to blame for a national vape crisis of e-cigarette-related lung injuries that’s linked to dozens of deaths, according to U.S. Centers for Disease Control and Prevention officials.

Source: https://finance.yahoo.com/news/cannabis-countdown-top-10-marijuana-141349361.html

• Annual General and Special Meeting at 1:00 p.m. on Monday, December 16, 2019 at the office of McMillan LLP World Exchange Plaza, Suite 2000, Ottawa, Ontario.  
• Announce that on November 6, 2019, the board authorized the issuance of up to 4,000 convertible debenture units of the Company at a price of $1,000 per Unit for total gross proceeds of up to $4,000,000.

TORONTO, Nov. 06, 2019 — North Bud Farms Inc. (CSE: NBUD) (OTCQB: NOBDF) (“NORTHBUD” or the “Company”) today announces that the Company will hold its Annual General and Special Meeting at 1:00 p.m. on Monday, December 16, 2019 at the office of McMillan LLP World Exchange Plaza, Suite 2000, Ottawa, Ontario.  

Additionally, the Company is pleased to announce that on November 6, 2019, the board authorized the issuance of up to 4,000 convertible debenture units (“Units”) of the Company at a price of $1,000 per Unit for total gross proceeds of up to $4,000,000. Based on this decision the Company will not be closing any additional tranches of the previously announced equity private placement.

Each Unit is comprised of one $1,000 principal amount of secured convertible debenture (a “Convertible Debenture”) accruing interest at 10.0% per annum, payable semi-annually in arrears until maturity, and 2,000 common share purchase warrants of the Company (each, a “Warrant”). The Convertible Debentures will have a maturity date of 36 months from the date of issuance.

Each Convertible Debenture shall be convertible into common shares in the capital of the Company (each, a “Conversion Share”) at a price of $0.30 per Conversion Share.

Each Warrant entitles the holder thereof to acquire one common share in the capital of the Company (each, a “Warrant Share”) for an exercise price of $0.25 per Warrant Share for a period of 18 months following the closing date.

The Convertible Debentures are direct secured obligations of the Company and rank pari passu in right of payment of principal and interest with all other Convertible Debentures issued under the Offering.

The Company is pleased to announce that on November 6, 2019 it closed an initial tranche of 1,264 Units for gross proceeds of $1,264,000. These Units were purchased by one insider and existing shareholders. The Company intends to close the remaining Units in one or more tranches over the coming weeks.

Ryan Brown, the Chief Executive Officer, of the Company participated in the private placement and beneficially acquired 664 Units for a total proceeds of $664,000. The purchase constitutes a “related party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The issuance is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as the fair market value of the Units issued to or the consideration paid by such insider did not exceed 25% of the Company’s market capitalization.

Certain finders (the “Finders”) received a cash commission on the sale of the Offering of $48,000. The Finders also received 48,000 compensation warrants (the “Compensation Warrants”), each carrying the right to purchase 3.3333 common shares in the capital of the Company at a price of $1.00 per Compensation Warrant for a period of 18 months from the closing date.

The proceeds of the Offering will be used by the Company for expansion of the Company’s facilities and for general corporate and working capital purposes.

The Convertible Debentures, Warrants and Compensation Warrants issued pursuant to the Offering and any common shares in the capital of the Company issued on conversion of the Convertible Debentures or exercise of the Warrants or Compensation Warrants are subject to a statutory hold period in Canada of four months and one day following the closing date in accordance with applicable securities laws, which shall expire on March 7, 2020. Additional resale restrictions may be applicable under the laws of other jurisdictions, if any.

The securities of the Company have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws. Accordingly, the securities of the Company may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities of the
Company in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Corporate Update
Since the submission of our evidence package to Health Canada, the Company has received some minor comments from the regulators all of which have been responded to within 24 hours. The Company will update shareholders with any material developments related to the application process.

About North Bud Farms Inc.
North Bud Farms Inc., through its wholly owned subsidiary GrowPros MMP Inc., is pursuing a licence under The Cannabis Act.  The Company has built a state-of-the-art purpose-built cannabis production facility located on 135 acres of Agricultural Land in Low, Quebec, Canada. NORTHBUD through its wholly owned U.S. subsidiary, Bonfire Brands USA has entered into agreements to acquire assets in California and Nevada.

For more information visit: www.northbud.com

Neither the Canadian Securities Exchange (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 included in this press release constitute forward-looking information or statements (collectively, “forward-looking statements”), including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, “may”, “should” and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This press release contains forward- looking statements that include, but are not limited to, statements related to the intended use of proceeds from the Offering. These forward-looking statements are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties and other factors. Such risks and uncertainties include, among others, the risk factors included in North Bud Farms Inc.’s final long form prospectus dated August 21, 2018, which is available under the issuer’s SEDAR profile at www.sedar.com. 

FOR ADDITIONAL INFORMATION, PLEASE CONTACT:
North Bud Farms Inc.
Edward Miller
VP, IR & Communications
Office: (855) 628-3420 ext. 3
[email protected] 

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.

Edible CBD Products Offer Consumers a New Health Trend

• North American consumer spending on cannabis-infused foods and drinks reached USD 1.5 Billion in 2018, according to data compiled by Arcview Market Research and BDS Analytics,
• By 2022, the two firms suggest that edible sales are on track to reach USD 4.1 Billion

NEW YORK, Oct. 31, 2019 – Consumer trends constantly require industries to adapt in order to thrive among the competition. Specifically, the food and beverage industry is one of the fastest evolving markets because of constant changes in consumer demands. Nowadays, the increasing demand for healthier and more organic options is prompting manufacturers to produce alternatives to sugar-packed drinks and fatty snacks. Instead, consumers are looking for products that are processed with healthier sustainable ingredients, proteins, vitamins, and antioxidants. Notably, many consumers have turned to the beverage industry for functional drinks such as kombucha. A functional drink is a type of beverage that typically conveys a health benefit such as being packed with performance-enhancing agents like nootropics and amino acids. Consequently, the growing demand in the functional beverage market sparked interest within the CBD market. CBD is a derivative of the hemp plant, which falls under the cannabis family.

Typically, cannabis is associated with its marijuana component, which causes psychoactive effects because of its heavy THC concentrate. However, hemp does not cause psychoactive effects because the main compound is CBD. THC and CBD are widely different in their biological makeup, but because they derive from the cannabis plant, regulators deemed both compounds to be unsafe for consumers. However, extensive research has uncovered that CBD provides therapeutic and health benefits, which then led to the rapid emergence of CBD-based products. As such, North American consumer spending on cannabis-infused foods and drinks reached USD 1.5 Billion in 2018, according to data compiled by Arcview Market Research and BDS Analytics, By 2022, the two firms suggest that edible sales are on track to reach USD 4.1 Billion.

Typically, most people consume CBD to simply relax. However, clinical trials have proven that CBD can also provide medical benefits. Specifically, patients suffering from chronic ailments such as severe pain, cancer, arthritis, and epilepsy can consume CBD drinks to subdue the symptoms. And while CBD is quickly permeating throughout global regions, the North American market is the primary driver because of legality stance. Canada moved to legalize cannabis entirely back in late 2018, which prompted a spur of recreational demand. On the other hand, the U.S. passed the Farm Bill in 2018, which legalized hemp-derived CBD products. Shortly after, stores across the nation began to commercialize CBD goods.

Now, consumers can easily purchase products such as tinctures, topicals, oils, and edibles at their local convenience stores or online e-commerce platforms. However, the CBD beverage market is one of the most popular segments because consumers can easily purchase a CBD-based tincture and add droplets of CBD into their beverage. Generally, CBD can be found within beverages such as soda, juice, coffee, wine, water, and even alcohol. However, consumers can also add CBD-based powders into their beverages and some producers have even mentioned that powders are much better in terms of solubility. Overall, the cannabis-infused beverage industry is quickly gaining traction, however, some beverage producers are still evaluating the industry.

Nonetheless, a handful of corporations such as the alcohol industry, have already dove into the marketplace and are already marking their presence.  “Everyone in the industry recognizes that CBD-infused beverages are going to be one of the largest category opportunities in all of CBD,” said Ben Witte, the Founder and Chief Executive Officer of Recess, a company producing CBD-infused sparkling water. “As a result of that, a lot of the suppliers in the supply chain have innovated to create a format that is soluble in beverages.”

Source: https://www.prnewswire.co.uk/news-releases/edible-cbd-products-offer-consumers-a-new-health-trend-884112693.html