Aras Azadian Chief Executive Officer and Co-Founder of Avicanna discusses the company’s medical cannabis which is trusted by physicians and clinicians. Azadian states, “Only 5% of physicians are currently prescribing Cannabis.” He continues to explain that the medical community has been skeptical of Canadian Licensed producers. Avicanna provides medical and only medical, this bodes well with the medical community.
Vancouver, British Columbia–(November 16, 2020) – TransCanna Holdings Inc. (CSE: TCAN) (FSE: TH8) (“TransCanna” or the “Company“) is pleased to announce the appointment of Ms. Jennifer Brown to the Company’s Board of Directors.
Ms. Brown is an Experienced Enterprise Risk Manager, Anti-Money Laundering, Compliance & Fraud Prevention Professional. Ms. Brown has over 15 years managing various organizations’ operations divisions and enterprise risk management programs at various financial institutions. In her roles, Ms. Brown has been responsible for the development and implementation of analytic fiscal reports, policies, and procedures that satisfy compliance requirements and maintaining thorough understanding of state and federal laws and regulations to ensure compliance. Mr. Brown earned a Bachelors’ Degree in Criminal Justice with concentration on Homeland Security from Brandman University and is currently pursuing an MBA in Accounting from National University. Ms. Brown is a member of the Association of Certified Anti-Money Laundering Specialist (ACAMS), California Financial Crimes Investigators Association (CFCIA), Northern California Compliance Roundtable, Sacramento Metro EDGE, and Sacramento Young Professionals (YP).
Ms. Brown has also been appointed a member of the Company’s audit committee.
“We are excited to have Jennifer join the Board of Directors here at Transcanna. She is a great addition to our team and brings a wealth of experience and knowledge to help propel the Company forward,” stated Bob Blink, the Company’s CEO.
About TransCanna Holdings Inc.
TransCanna Holdings Inc. is a California based, Canadian listed company building Cannabis-focused brands for the California lifestyle through its wholly-owned California subsidiaries.
For further information, please visit the Company’s website at www.transcanna.com or email the Company at [email protected].
On behalf of the Board of Directors
Bob Blink, CEO
604-349-3011
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
TORONTO , Nov. 13, 2020 – Avicanna Inc. (” Avicanna “, or the ” Company “) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN) is pleased to announce that it has priced its previously announced marketed public offering (the ” Offering “) of units (the ” Units “) of the Company. The Company intends to issue the Units at a price of $0.85 per Unit for gross proceeds of a minimum of $5,000,000 and a maximum of $7,000,000 . Each Unit will consist of one common share of the Company (each a ” Common Share “) and one-half of one common share purchase warrant (each full warrant, a ” Warrant ” and collectively the ” Warrants “). Each Warrant will be exercisable for one Common Share (each a ” Warrant Share “) at a price of $1.20 per share at any time for a period of 36 months following closing of the Offering.
The Offering is being conducted on a “best efforts” basis by a syndicate of agents led by Echelon Wealth Partners Inc., as lead agent and sole-bookrunner, and including Beacon Securities Limited and Canaccord Genuity Corp. (collectively, the ” Agents “).
The Company has granted the Agents an option, exercisable in whole or in part, at the sole discretion of the Agents, at any time for a period of 30 days from and including the closing of the Offering, to purchase from the Company up to an additional 15% of the Units sold under the Offering, on the same terms and conditions of the Offering to cover over-allotments, if any, and for market stabilization purposes (the ” Over-Allotment Option “). The Over-Allotment Option may be exercised by the Agents to purchase additional Units, Common Shares, Warrants or any combination thereof.
The Offering will be completed on a “best efforts” basis through the Agents (i) by way of a short form prospectus to be filed in the Canadian Jurisdictions (ii) on a private placement basis to “accredited investors” meeting one or more of the criteria in Rule 501(a) of Regulation D (” Regulation D “) under the United States Securities Act of 1933 , as amended (the ” U.S. Securities Act “) pursuant to Rule 506(b) of Regulation D and/or Section 4(a)(2) thereof and similar exemptions under applicable state securities laws, Qualified Institutional Buyers in the United States pursuant to the registration exemptions provided by Rule 144A of the US Securities Act, and (iii) outside Canada and the United States on a basis which does not require the qualification or registration of any of the Company’s securities under domestic or foreign securities laws.
The Offering is expected to close on or about December 3, 2020 , or such other date as the Company and the Agents may agree. Closing of the Offering is subject to customary closing conditions, including, but not limited to, the execution of an agency agreement and the receipt of all necessary regulatory approvals, including the approval of the securities regulatory authorities and the Toronto Stock Exchange.
The Company intends to use the net proceeds of the Offering for product development, working capital and general corporate purposes.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of securities in the United States . The securities have not been and will not be registered under the U.S. Securities Act or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Avicanna Inc.
Avicanna is a diversified and vertically integrated Canadian biopharmaceutical company focused on the research, development, and commercialization of plant-derived cannabinoid-based products for the global consumer, medical, and pharmaceutical market segments.
Avicanna is an established leader in cannabinoid research and development, which it primarily conducts at its R&D headquarters in the Johnson & Johnson Innovation Centre, JLABS @ Toronto, Canada and in collaboration with leading Canadian academic and medical institutions. In addition to its developing pharmaceutical pipeline, Avicanna’s team of experts have developed and commercialized several industry leading product lines, including:
With ongoing clinical trials on its derma-cosmetic (Pura H&W), medical cannabis (RHO Phyto) and a pipeline of pharmaceutical products, Avicanna’s dedication to researching the important role that cannabinoids play in an increasingly wider scope of products has been at the core of the Company’s vision since its inception. Furthermore, Avicanna’s commitment to education is demonstrated through its annual medical symposium, the Avicanna Academy educational platform, and the My Cannabis Clinic patient program through its subsidiary company.
Avicanna manages its own supply chain including cultivation and extraction through its two majority-owned subsidiaries, Sativa Nativa S.A.S. and Santa Marta Golden Hemp S.A.S., both located in Santa Marta , Colombia . Through these sustainable, economical, and industrial scale subsidiaries, Avicanna cultivates, processes, and commercializes a range of cannabis and hemp cultivars dominant in CBD, CBG, THC, and other cannabinoids for use as active pharmaceutical ingredients. Avicanna’s Avesta Genetica program specializes in the development and optimization of rare cultivars for commercial production along with feminized seeds for global export. In June 2020 , Avicanna made history with a shipment of hemp seeds to the United States of America by completing the first ever export of hemp seeds from Colombia .
Stay Connected
For more information about Avicanna, visit www.avicanna.com , call 1-647-243-5283, or contact Setu Purohit , President by email at [email protected].
Cautionary Note Regarding Forward-Looking Information and Statements
This news release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information contained in this press release may be identified by the use of words such as, “may”, “would”, “could”, “will”, “likely”, “expect”, “anticipate”, “believe, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook” and other similar expressions. The forward-looking information contained in this news release is based on certain key expectations and assumptions made by the Company, including expectations and assumptions regarding the terms, timing and potential completion of the Offering, satisfaction of regulatory requirements in various jurisdictions and the use of proceeds from the Offering.
Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management in light of manageme nt’s experience and perception of trends, current conditions and expected developments, as well as other factors relevant in the circumstances, including assumptions in respect of current and future market conditions, the current and future regulatory environment; and the availability of licenses, approvals and permits. Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information. Such risks and uncertainties include, but are not limited to current and future market conditions, including the market price of the common shares of the Company, the delay or failure to receive regulatory approvals, and the risk factors set out in the Company’s annual information form dated April 15, 2020 , filed with the Canadian securities regulators and available under the Company’s profile on SEDAR at www.sedar.com .
Thoughtful Brands, Inc. (CSE:TBI)(FSE:1WZ1)(OTCQB:PEMTF) (the “Company” or “Thoughtful Brands“), a global natural health products and eCommerce technology company, is pleased to announce that it has acquired all of the outstanding share capital of American CBD Extraction Corp. (“American CBD“).
Through its Kentucky-based subsidiary, American CBD has the ability to process over 1,200 lbs. of hemp per day to produce winterized crude. With the acquisition of American CBD, Thoughtful Brands will immediately adopt a vertically integrated model, controlling each aspect of its supply chain, including production, logistics and value chain.
“The acquisition of American CBD marks a promising new phase for the Thoughtful Brands,” said CEO Ryan Dean Hoggan. “With vertical integration taking effect immediately, we look forward to the entire business benefitting through reduced costs, additional expansion opportunities and product innovation.”
Through the acquisition of American CBD, the Company has acquired an abundance of hemp biomass along with a fully equipped and licensed 41,000 square foot facility that can process more than 1,200 pounds of hemp per day. This enables new focuses for Thoughtful Brands across multiple means of production, including the launch of new superior quality, proprietary CBD brands with products made from hemp they extract and produce themselves. In addition, Thoughtful Brands plans to develop products for future brand clients and will also become a wholesale supplier of hemp biomass. Thoughtful Brands will also utilize American CBD’s technological and scientific expertise to enhance the formulations of the direct-to-consumer CBD brands currently under the Company’s umbrella.
“We look forward to closing 2020 on a high note and an array of new initiatives in 2021,” added Hoggan.
The acquisition of American CBD proceeded pursuant to an amalgamation agreement among the Company, a wholly owned subsidiary of the Company (“Subco“) and American CBD (the “Definitive Agreement“). Pursuant to the Definitive Agreement, American CBD amalgamated with Subco, and the resulting amalgamated entity is now a wholly-owned subsidiary of the Company (the “Transaction“). In consideration for the completion of the Transaction, the Company has issued 110,000,000 common shares (“Consideration Shares“) to the shareholders of American CBD in exchange for every share of American CBD they held.
The Consideration Shares are subject to a voluntary pooling arrangement, from which 25% of the Consideration Shares were released on the closing date of the Transaction, with a release of an additional 25% after each subsequent 90-day period.
In connection with the closing of the Transaction, the Company has also entered into an operating agreement (the “Operating Agreement“) with 9112-7258 Quebec Inc. (the “Operator“) for the operation of the American CBD assets in Jenkins, Kentucky. Pursuant to the Operating Agreement, the Company has paid the Operator a bonus of Cdn$1,300,000, which has been settled through the issuance of 13,000,000 common shares of the Company (the “Bonus Shares“). In addition to the Bonus Shares, the Operator will be entitled to receive a Cdn$2,000,000 payment (“Milestone Payment“) from the Company upon (i) the achievement of cumulative sales of over USD$1,000,000 produced from the Kentucky facility acquired as part of the Transaction; or (ii) the entering into of a supply agreement with a third-party to deliver finished product on a wholesale basis at a price less than the manufacturing cost of similar product by the Company. The Milestone Payment will be settled through the issuance of common shares of the Company (“Milestone Shares“), which shall be valued based on the five-day volume weighted average closing price of the Company’s shares on the Canadian Securities Exchange immediately prior to the milestone payments becoming payable.
The Company is at arms-length from American CBD and its shareholders. The Transaction neither constitutes a fundamental change nor a change of business for the Company, nor has it resulted in a change of control of the Company within the meaning of applicable securities laws and the policies of the Canadian Securities Exchange. In connection with the completion of the Transaction, the Company has issued 1,100,000 common shares to an arms-length third-party who assisted with facilitating the Transaction.
About Thoughtful Brands Inc.
Thoughtful Brands Inc. is an eCommerce technology company that researches, develops, markets, and distributes natural health products through various brands in North America and Europe. Through continuous strategic acquisitions, the Company has a strong footprint in the CBD market. Thoughtful Brands currently owns and operates multiple direct to consumer CBD brands and is positioning itself to become vertically integrated through the acquisition of American CBD Extraction Corp.
ON BEHALF OF THE BOARD OF DIRECTORS
THOUGHTFUL BRANDS INC.
Ryan Hoggan
Chief Executive Officer
TORONTO , Nov. 12, 2020 – Avicanna Inc. (” Avicanna “, or the ” Company “) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN) is pleased to announce that it has filed and has been receipted for a preliminary short form prospectus with the securities commissions in Alberta , British Columbia , Manitoba , Ontario and Saskatchewan (the ” Canadian Jurisdictions “) in connection with a marketed public offering (the ” Offering “) of units (the ” Units “) of the Company.
Each Unit will consist of one common share of the Company (each a ” Common Share “) and one-half of one common share purchase warrant (each full warrant, a ” Warrant ” and collectively the ” Warrants “). Each Warrant will be exercisable for one Common Share (each a ” Warrant Share “) at any time for a period of 24 months following closing of the Offering. Final pricing of the Units, the Warrant exercise price and the determination of the number of Units to be sold pursuant to the Offering will be determined in the context of the market prior to the filing of the final short form prospectus in respect of the Offering. The Offering will be conducted on a “best efforts” basis by a syndicate of agents led by Echelon Wealth Partners Inc., as lead agent and sole-bookrunner, and including Beacon Securities Limited and Canaccord Genuity Corp. (collectively, the ” Agents “).
The Company has granted the Agents an option, exercisable in whole or in part, at the sole discretion of the Agents, at any time for a period of 30 days from and including the closing of the Offering, to purchase from the Company up to an additional 15% of the Units sold under the Offering, on the same terms and conditions of the Offering to cover over-allotments, if any, and for market stabilization purposes (the ” Over-Allotment Option “). The Over-Allotment Option may be exercised by the Agents to purchase additional Units, Common Shares, Warrants or any combination thereof.
The Offering will be completed (i) by way of a short form prospectus to be filed in the Canadian Jurisdictions (ii) on a private placement basis to “accredited investors” meeting one or more of the criteria in Rule 501(a) of Regulation D (” Regulation D “) under the United States Securities Act of 1933 , as amended (the ” U.S. Securities Act “) pursuant to Rule 506(b) of Regulation D and/or Section 4(a)(2) thereof and similar exemptions under applicable state securities laws, Qualified Institutional Buyers in the United States pursuant to the registration exemptions provided by Rule 144A of the US Securities Act, and (iii) outside Canada and the United States on a basis which does not require the qualification or registration of any of the Company’s securities under domestic or foreign securities laws.
The Offering is expected to close on or about December 3, 2020 , or such other date as the Company and the Agents may agree. Closing of the Offering is subject to customary closing conditions, including, but not limited to, the execution of an agency agreement and the receipt of all necessary regulatory approvals, including the approval of the securities regulatory authorities and the Toronto Stock Exchange.
The Company intends to use the net proceeds of the Offering for product development, working capital and general corporate purposes.
The preliminary short form prospectus is available on SEDAR at www.sedar.com .
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of securities in the United States . The securities have not been and will not be registered under the U.S. Securities Act or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Avicanna Inc.
Avicanna is a diversified and vertically integrated Canadian biopharmaceutical company focused on the research, development, and commercialization of plant-derived cannabinoid-based products for the global consumer, medical, and pharmaceutical market segments.
Avicanna is an established leader in cannabinoid research and development, which it primarily conducts at its R&D headquarters in the Johnson & Johnson Innovation Centre, JLABS @ Toronto, Canada and in collaboration with leading Canadian academic and medical institutions. In addition to its developing pharmaceutical pipeline, Avicanna’s team of experts have developed and commercialized several industry leading product lines, including:
With ongoing clinical trials on its derma-cosmetic (Pura H&W), medical cannabis (RHO Phyto) and a pipeline of pharmaceutical products, Avicanna’s dedication to researching the important role that cannabinoids play in an increasingly wider scope of products has been at the core of the Company’s vision since its inception. Furthermore, Avicanna’s commitment to education is demonstrated through its annual medical symposium, the Avicanna Academy educational platform, and the My Cannabis Clinic patient program through its subsidiary company.
Avicanna manages its own supply chain including cultivation and extraction through its two majority-owned subsidiaries, Sativa Nativa S.A.S. and Santa Marta Golden Hemp S.A.S., both located in Santa Marta , Colombia . Through these sustainable, economical, and industrial scale subsidiaries, Avicanna cultivates, processes, and commercializes a range of cannabis and hemp cultivars dominant in CBD, CBG, THC, and other cannabinoids for use as active pharmaceutical ingredients. Avicanna’s Avesta Genetica program specializes in the development and optimization of rare cultivars for commercial production along with feminized seeds for global export. In June 2020 , Avicanna made history with a shipment of hemp seeds to the United States of America by completing the first ever export of hemp seeds from Colombia .
Stay Connected
For more information about Avicanna, visit www.avicanna.com , call 1-647-243-5283, or contact Setu Purohit , President by email at [email protected] .
Cautionary Note Regarding Forward-Looking Information and Statements
This news release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information contained in this press release may be identified by the use of words such as, “may”, “would”, “could”, “will”, “likely”, “expect”, “anticipate”, “believe, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook” and other similar expressions. The forward-looking information contained in this news release is based on certain key expectations and assumptions made by the Company, including expectations and assumptions regarding the terms, timing and potential completion of the Offering, satisfaction of regulatory requirements in various jurisdictions and the use of proceeds from the Offering.
Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management in light of manageme nt’s experience and perception of trends, current conditions and expected developments, as well as other factors relevant in the circumstances, including assumptions in respect of current and future market conditions, the current and future regulatory environment; and the availability of licenses, approvals and permits. Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information. Such risks and uncertainties include, but are not limited to current and future market conditions, including the market price of the common shares of the Company, the delay or failure to receive regulatory approvals, and the risk factors set out in the Company’s annual information form dated April 15, 2020 , filed with the Canadian securities regulators and available under the Company’s profile on SEDAR at www.sedar.com .
SOURCE Avicanna Inc.
SPONSOR: Thoughtful Brands is an established natural health products company focused in the CBD and psychedelic medicine sectors. Through their powerful eCommerce business, Thoughtful is a leading direct-to-consumer provider of a wide range of natural health products throughout the United States and Europe
Consumers are already going gangbusters for CBD in every formulation imaginable.
But the current use rate for hemp-CBD products isn’t even close to what it could be when the industry sees federal regulation, which would open up mainstream manufacturing and retail markets even further.
For 2019, total sales of hemp-derived CBD consumer products in the U.S. were roughly $1.2 billion, according to Nielsen Global Connect, a division of Nielsen that focuses on data for hemp-derived CBD manufacturers and retailers.
Yet in the past year, consumers likely have become even more dependent on hemp-CBD products because of increased anxiety and stress during the coronavirus pandemic. The widespread economic disruption and uncertainty came at the same time general interest in wellness products was increasing
Because of this and other factors, Nielsen projects that sales will reach $1.7 billion to $2 billion in 2020. The average of that range, $1.85 billion, would represent a 54% increase in year-over-year sales.
Considering that the market could see favorable U.S. Food and Drug Administration guidance or legislation from Congress approving CBD in ingestible products next year, Nielsen expects that by 2025, the market for hemp-derived CBD products will generate $6.9 billion, – a threefold increase over five years.
Sales by category
The availability of different segments of the hemp-CBD market are limited by the types of retailers willing to carry them.
For example, dozens of mainstream retailers have entered the CBD category by picking up topicals such as hand and body creams, balms and cosmetics, although most have been hesitant to sell ingestible products until there is more regulatory clarity from the FDA.
Despite this lack of regulation, ingestibles already are and will continue to be huge moneymakers for manufacturers and retailers. Nielsen estimates that sales for over-the-counter (OTC) supplements will reach more than $588 million in 2020, while other ingestible categories (including beverages, food, candy and gum) will top $400 million.
Inhalable hemp-CBD products are expected to reach $288 million this year.
Comparably, 2025 sales are projected to increase by:
Manufacturers have been focused on getting CBD approved as a food ingredient — but the food category is one of the smallest CBD segments, according to Nielsen. On the other hand, the prestige category, which includes beauty and skin care products typically available from higher-end retailers, might offer greater opportunity — both in the short term and the future — as sales are expected to increase by nearly 1,000% in the next five years.
Following closely behind food products are the similarly sized hemp-derived CBD beauty products and pet-products segments.
CBD beauty products are projected to reach $191 million in 2020, with estimated 7% growth to $507 million by 2025. Likewise, the hemp-CBD pet products market, estimated at $191 million in sales this year, is projected to grow 7% in five years to $506 million. Like food, however, growth of the pet-products sector is highly dependent on regulatory clarity.
Shore up your plans
Now the industry has a grasp of what increasing use looks like for hemp-CBD sales overall and by category, as well as how certain factors will impact consumer use – and what that means for hemp entrepreneurs and retailers trying to navigate the complex market.
Hemp Industry Daily is pleased to present “How to Navigate the Complicated World of CBD in Retail,” in collaboration with Nielsen Global Connect as part of an ongoing partnership that aims to provide exclusive data on hemp-CBD retail markets and consumer-purchasing behaviors for these products.
In the report, you’ll find data and insights on the existing hemp-CBD consumer product market in the U.S., including:
Source: https://hempindustrydaily.com/exclusive-cbd-demand-could-drive-2020-sales-of-2-billion-with-threefold-growth-projected-by-2025/
TORONTO, Nov. 12, 2020 –Avicanna Inc. (“Avicanna” or the “Company) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN) a biopharmaceutical company focused on the development, manufacturing and commercialization of plant-derived cannabinoid-based products announces results for the third quarter ended September 30, 2020.
Aras Azadian, Chief Executive Officer of Avicanna, commented “We are thrilled to report the tremendous progress our team continues to make in our commercialization and research efforts. During the third quarter, we were able to demonstrate the superiority of our technologies and products with several strategic commercial partnerships but also with an incredibly successful launch of our medical products in the Canadian market.”
Third Quarter Highlights
| Q1 2020 | Q2 2020 | Q3 2020 | |
| Revenue | 260,903 | 709,468 | 881,956 |
| Adjusted EBITDA* | (3,063,524) | (3,641,496) | (2,608,063) |
| * Adjusted EBITDA is a Non-GAAP measure. Please refer below for a reconciliation of Net Income (Loss) to EBITDA and Adjusted EBITDA. |
Summary of Operations ($CDN)
| Three Months Ended | Nine Months Ended | |||
| September 30, 2020 | September 30, 2019 | September 30, 2020 | September 30, 2019 | |
| $ | $ | |||
| Revenues | 881,956 | 4,943 | 1,852,327 | 45,537 |
| Impairment on inventory | (612,105) | – | (612,105) | – |
| Inventory Production Costs expensed to Cost of Sales | (439,099) | – | (673,387) | – |
| Fair value changes in biological assets included in inventory sold | (37,818) | – | (607,370) | – |
| Unrealized gain/(loss) on changes in fair value of biological assets | (1,103,910) | – | 723,361 | – |
| General and administrative | 2,954,438 | 5,673,540 | 9,064,843 | 12,604,022 |
| Share-based compensation | 839,954 | 262,498 | 2,455,916 | 1,982,066 |
| Depreciation and amortization | 419,914 | 326,983 | 1,259,742 | 512,100 |
| Impairment of goodwill | 2,520,382 | – | 3,207,227 | |
| Total Expenses | (6,734,688) | (6,263,021) | (15,987,728) | (15,098,188) |
| Other income (loss) | 378,512 | 72,748 | (2,117,968) | 473,646 |
| Net loss before taxes | (7,667,152) | (6,185,330) | (17,422,870) | (14,579,005) |
| Net loss after taxes | (7,667,152) | (6,185,330) | (17,422,870) | (14,579,005) |
| Weighted average number of Common Shares outstanding – basic and diluted | 26,566,915 | 21,830,153 | 25,348,330 | 19,298,899 |
| Loss per share – basic and diluted | (0.35) | (0.33) | (0.82) | (0.84) |
Summary of Balance Sheet ($CDN)
| As at September 30, 2020 | As at December 31, 2019 | ||
| Assets | $ | $ | |
| Cash | 101,088 | 441,757 | |
| Amounts receivable | 2,442,488 | 1,202,924 | |
| Prepaid assets | 652,287 | 704,632 | |
| Biological assets | 233,644 | 117,367 | |
| Inventory | 2,084,414 | 1,484,371 | |
| Right to use asset | 392,516 | 539,710 | |
| Property and equipment | 19,951,265 | 22,622,322 | |
| Intangible assets | 10,504,182 | 11,063,900 | |
| Derivative asset | 1,501,034 | 3,780,000 | |
| Investments | 72 | 72 | |
| Goodwill | – | 3,207,227 | |
| Total Assets | 37,862,990 | 45,164,282 | |
| Liabilities and Equity | |||
| Amounts payable | 4,815,132 | 5,177,634 | |
| Due to related party | 4,952,124 | 3,319,116 | |
| Convertible debentures | 757,400 | 715,626 | |
| Derivative liability | – | 23,434 | |
| Lease liability | 417,975 | 555,339 | |
| Term loan | – | – | |
| Deferred revenue | 3,074,752 | 3,323,518 | |
| Deferred tax liability | 2,173,834 | 2,173,834 | |
| Total Liabilities | 16,191,217 | 15,288,501 | |
| Shareholder’s equity | 21,671,773 | 29,875,781 | |
| Total Liabilities and Shareholder’s Equity | 37,862,990 | 45,164,282 |
About Avicanna
Avicanna is a diversified and vertically integrated Canadian biopharmaceutical company focused on the research, development and commercialization of plant-derived cannabinoid-based products for the global consumer, medical, and pharmaceutical market segments.
Avicanna is an established leader in cannabinoid research and development, which it primarily conducts at its R&D headquarters in the Johnson & Johnson Innovation Centre, JLABS @ Toronto, Canada and in collaboration with leading Canadian academic and medical institutions. In addition to its developing pharmaceutical pipeline, Avicanna’s team of experts have developed and commercialized several industry leading product lines, including:
With ongoing clinical trials on its dermacosmetic (Pura H&W), medical cannabis (RHO Phyto) and a pipeline of pharmaceutical products, Avicanna’s dedication to researching the important role that cannabinoids play in an increasingly wider scope of products has been at the core of the Company’s vision since its inception. Furthermore, Avicanna’s commitment to education is demonstrated through its annual medical symposium, the Avicanna Academy educational platform, and the My Cannabis Clinic patient program through its subsidiary company.
Avicanna manages its own supply chain including cultivation and extraction through its two majority-owned subsidiaries, Sativa Nativa S.A.S. and Santa Marta Golden Hemp S.A.S., both located in Santa Marta, Colombia. Through these sustainable, economical, and industrial scale subsidiaries, Avicanna cultivates, processes, and commercializes a range of cannabis and hemp cultivars dominant in CBD, CBG, THC, and other cannabinoids for use as active pharmaceutical ingredients. Avicanna’s Avesta Genetica program specializes in the development and optimization of rare cultivars for commercial production along with feminized seeds for global export. In June 2020, Avicanna made history with a shipment of hemp seeds to the United States of America by completing the first ever export of hemp seeds from Colombia.
SOURCE Avicanna Inc.
Stay Connected
For more information about Avicanna, visit www.avicanna.com, call 1-647-243-5283, or contact Setu Purohit, President by email at [email protected].
Cautionary Note Regarding Forward-Looking Information and Statements
This press release contains certain “forward-looking information” within the meaning of applicable Canadian securities legislation (each such statement a “forward-looking statement”). Such forward-looking statements are not representative of historical facts or information or current condition, but instead represent only Avicanna’s current beliefs and assumptions regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Avicanna’s control. Generally, such forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”. The forward-looking information and forward-looking statements contained herein may include, the Company’s revenues to continue to increase through fiscal 2021, the Company’s anticipated activities and results of its various commercial initiatives, its availability and sufficiency of working capital, the anticipated growth of the Company’s business in the first quarter of 2021 and the anticipated further development and improvement of products by the Company.
By identifying such information and statements in this manner, Avicanna is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Avicanna to be materially different from those expressed or implied by such information and statements. In addition, in connection with the forward-looking statements contained in this press release, Avicanna has made certain assumptions.
Among others, the key factors that could cause actual results to differ materially from those projected in the forward-looking information and statements are the following: decreases in the prevailing prices for cannabis and cannabis products in the markets in which the Company operates; adverse changes in applicable laws; adverse changes in the application or enforcement of current laws, including those related to taxation; increasing costs of compliance with extensive government regulation; changes in general economic, business and political conditions, including changes in the financial markets ; risks related to licensing, including the ability to obtain the requisite licenses or renew existing licenses for the Company’s existing and proposed operations; dependence upon third party service providers, skilled labor and other key inputs; risks inherent in the agricultural and retail business; intellectual property risks; risks related to litigation; dependence upon senior management; and the other risks disclosed in the Company’s long form final prospectus dated July 8, 2019 and the Company’s annual information form dated April 15, 2020. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.
Although Avicanna believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking statements are reasonable, undue reliance should not be placed on such statements, and no assurance or guarantee can be given that such forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.
Vancouver, British Columbia–(November 12, 2020) – TransCanna Holdings Inc. (CSE: TCAN) (GSE: TH8) (“TransCanna” or the “Company”) announces the collaboration of Lyfted Farms with Fresca LLC; breaks sales velocity records.
Lyfted Farms has entered into a 5-year agreement with Fresca LLC to promote and co-brand premium indoor cannabis flower. The resulting new retail SKU’s have surpassed several prior sales velocity records for Lyfted Farms. Sales velocity has long been a key indicator for demand and viable results demonstrating the products are well positioned.
This collaboration highlights the marketplace power of California’s most authentic indoor cultivator combined with the Fresca Brand and distribution channels into the world-famous Cookie’s, Lemonade, and Dr. Greenthumb stores.
Bob Blink, founder of Lyfted Farms and CEO of TransCanna, shares that, “The opportunity to bring Lyfted Farms reputation for consistently high quality indoor cannabis flower into the Fresca Brand and the Cookie’s retail distribution system is exciting and will enable us to showcase the production capacity of the Daly Facility.”
Gilbert Milam Jr., aka “Berner” @berner415, Founder and CEO of Cookie’s, notes “The owners of Fresca helped innovate Bay Area culture when I was growing up through music…when they mentioned to me about starting a cannabis brand…I recommended that they find a quality indoor cultivator and I think Lyfted Farms is the perfect partner for them. We look forward to carrying their brand onto our shelves and watching their Statewide expansion.”
About TransCanna Holdings Inc.
TransCanna Holdings Inc. is a California based, Canadian listed, Company building cannabis-focused brands for the California lifestyle through its wholly-owned California subsidiaries.
For further information, please visit the Company’s website at www.transcanna.com or email the Company at [email protected].
On behalf of the Board of Directors
Bob Blink, CEO
604-349-3011
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws or forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs regarding future events of management of the Company. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or “occur”. This information and these statements referred to herein as “forward-looking statements”, are not historical facts, are made as of the date of this news release and include without limitation estimates and forecasts and statements as to management’s expectations for growth and the commencement of operations of the Company’s Daly facility.
The forward-looking information in this press release is based upon certain assumptions that management considers reasonable in the circumstances, including that operations will commence at the Company’s Daly facility in Modesto, California, as and when expected.
These forward-looking statements involve numerous known and unknown risks, uncertainties and other factors that may cause actual results, events or developments to be materially from any future results, events or developments expressed or implied by such forward-looking statements. Risks and uncertainties associated with the forward-looking information in this news release include, among others, dependence on obtaining and maintaining regulatory approvals, including state, local or other licenses and any inability to obtain all necessary governmental approvals licenses and permits to complete upgrades to its Daly facility in a timely manner; engaging in activities which currently are illegal under U.S. federal law and the uncertainty of existing protection from U.S. federal or other prosecution; regulatory or political change such as changes in applicable laws and regulations, including U.S. state-law legalization, particularly in California, due to inconsistent public opinion, perception of the medical-use and adult-use marijuana industry, bureaucratic delays or inefficiencies or any other reasons; any other factors or developments which may hinder market growth;; reliance on management; and the effect of capital market conditions and other factors (including those related to the COVID-19 pandemic) on capital availability; competition, including from more established or better financed competitors; and the need to secure and maintain corporate alliances and partnerships, including with customers and suppliers.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look, except in accordance with applicable securities laws.
SPONSOR: Avicanna (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN) is a Canadian vertically-integrated biopharmaceutical company developing and commercializing various cannabinoid-based products for the global market place. When we say vertically integrated, we mean it. Avicanna has 4 fully operating divisions to address the entire market for Cannabis products. As a Cannabis investor, why limit yourself to a Company with just one specialty, when Avicanna offers you exposure to the entire vertical. Learn More.
Unsurprisingly, some pharma companies for instance, Insys Therapeutics, put robust opposition to legalization of marijuana. The regulatory status on the CBD is markedly unclear and lack worldwide consensus, for instance, differs from state to state in the U.S., and from nation to nation. Nonetheless, over the years there is a clear surge in interest of pharma companies in medical marijuana, given the medical conditions where cannabis hold incredible potential.
FDA-approved CBD-based drugs will stridently see an increase, expanding the horizon in the CBD market. One of the most recalcitrant diseases CBD-based products in cannabis pharmaceuticals market hold potential, as body of preclinical studies have reiterated, is Dravet syndrome and Lennox-Gastaut syndrome (LGS).
A new study on the cannabis pharmaceuticals market scrutinizes the investment potential of some of the aforementioned trends and the ways in which those will shape the growth dynamics during 2020 – 2030.
Cannabis Pharmaceuticals Market: Key Trends
The shape of the cannabis pharmaceuticals market is expected to be molded by the changing dynamic of the regulatory landscape. A large part of negative public perception of cannabis products has been associated with the recreational use of TSH, a key psychoactive element of cannabis. However, as things have begun to change, the global medicinal industry will intensify its efforts in harnessing therapeutic benefits of cannabis.
The cannabis pharmaceutical industry will see new vistas opening up from expanding array of studies that will provide scientific backing of CBD. This is particularly in relation to the safety and uncontested claims of safety. Further, as regulators will treat different categories of cannabis-based product differently and suitably, the risk benefit profile of cannabis pharmaceuticals will become clearer. The scientific rigor for evidence-based medicine will expand the potential of the market and pave way for research in purified cannabidiol.
Two areas where the industry nurses tall hopes in the cannabis pharmaceuticals market are in reducing opioid epidemic, and in managing some of the hard-to-treat conditions such as some cancers. Stakeholders also appreciate the potential of medical cannabis for aesthetic and medical dermatology.
Cannabis Pharmaceuticals Market: Competitive Analysis and Key Developments
The cannabis pharmaceuticals market has seen numerous big shot companies testing new waters in medical marijuana, and making strategic moves to this end. Research units of a few top pharma companies have made moves toward commercializing cannabinoids for medical use. A recent example is research being made by Avicanna for Johnson & Johnson, and by Vapium for Grenco Science.
Another company, notably a spin-off of Abbott Laboratories, AbbVie Inc. has upped its cannabis-related patents. These developments will undoubtedly strengthen the pipeline of cannabis-related drugs, unlocking new prospects in the cannabis pharmaceuticals market. In the course of time, more start-up companies will ramp up their efforts in patenting Cannabis-based tablets and products.
Another behemoth that is making giant stride in the cannabis pharmaceuticals market is Teva Pharmaceuticals. The company recently announced formally that it has entered into distribution deal with cannabis company Canndoc.
Cannabis Pharmaceuticals Market: Regional Assessment
North America has seemed to garner incredible revenue potential among all key geographies in the cannabis pharmaceutical market over the past several years. The groundswell of interest in medical marijuana is circumscribed by favorable regulations in some quarters, notably in parts of the U.S. Intense discussion among industry stakeholders about the taxing and labelling of cannabis-based medicinal products will cement the potential of the regional market. They are keen on increasing the profitability of marijuana-based products. Another promising region is Europe, expanding on the back of rise in investments by pharma companies in CBD.
Read More: https://www.biospace.com/article/cannabis-pharmaceuticals-market-rise-in-investments-by-pharma-companies-in-cbd-to-drive-the-market-/
VANCOUVER, BC , Nov. 10, 2020 – Hollister Biosciences Inc. (CSE: HOLL) (OTC: HSTRF) (FRANKFURT: HOB) (the ” Company “, ” Hollister Cannabis Co. ” or ” Hollister “) a diversified cannabis branding company with products in over 280 dispensaries throughout California , and over 80 dispensaries throughout Arizona , is pleased to announce the launch of its direct to consumer cannabis delivery platform, Dreamy Delivery (” Dreamy ” or the ” Platform “).
The company soft launched Dreamy Delivery to friends and family in the San Francisco Bay Area of Northern California ( “Bay Area “), to ensure a seamless customer experience in early Q4 of 2020. The Company has expanded the Platform, with Dreamy now successfully delivering to legal cannabis consumers in the Bay Area. The Company hopes to launch Dreamy in Sacramento and the Central Coast of California by late Q4 of 2020 with the ultimate goal of delivering Cannabis statewide.
Carl Saling , CEO of Hollister , shared: “This is a major first step in our quest to be the dominant direct to consumer platform delivering cannabis to the entire state of California .”
Website: www.dreamydelivery.com
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”.
Website: www.hollistercannabisco.com
The CSE, nor its regulation services provider, does not accept responsibility for the adequacy or accuracy of this release.
Forward-Looking Information: This news release includes certain statements that may be deemed “forward-looking statements”. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “would”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this News Release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company’s disclosure documents which can be found under the Company’s profile on www.sedar.com .