Posted by AGORACOM
at 9:13 PM on Sunday, April 5th, 2020
Immune Support product line has been received exceptionally well by consumers
The total number of customers acquired by First Class CBD in March 2020 is 20,959, including 6,419 immune customers
Initial average spend of Cdn$218.40 per customer
VANCOUVER, BC / April 4, 2020 Mota Ventures Corp. (CSE:MOTA)(FSE:1WZ1)(OTC:PEMTF) (the “Company†or “Mota“) is pleased to provide an update on the recent progress that is fueling the increase in sales for products under its First Class CBD brand. The Immune Support product line has been received exceptionally well by consumers since it launched on March 14, 2020 and has been a significant driver of growth in March. The total number of customers acquired by First Class CBD in March 2020 is 20,959, including 6,419 immune customers with an initial average spend of Cdn$218.40 per customer.
The Company will be launching a new brand, Nature’s Exclusive CBD on April 6, 2020. The new Nature’s Exclusive CBD brand will introduce a line of Immune Support and CBD products with a higher content of CBD. The Company also anticipates releasing March 2020 financial results for First Class CBD in the next few days.
“The month of March has been exceptional, with new customer signups exceeding expectations. We believe this is a testament to our ability to adapt to the fast-paced eCommerce sector and ability to identify upcoming trends in consumer demand. I am very excited with the rapid progress and look forward to releasing March results in the upcoming days,†stated Ryan Hoggan, CEO of the Company.
The initial average spend per customer was translated from US dollar into Canadian dollar using the Bank of Canada average exchange rate of 1.3953 for March 2020.
About Mota Ventures Corp.
Mota is an established eCommerce, direct to consumer provider of a wide range of CBD products in the United States and Europe. In the United States, the company sells a CBD hemp-oil formulation derived from hemp grown and formulated in the US through its First Class CBD and Nature’s Exclusive brands. Within Europe, its Satavida brand of award winning 100% organic CBD oils and cosmetics are sold throughout Spain, Portugal, Austria, Germany, France, and the United Kingdom. Mota Ventures is also seeking to acquire additional revenue producing CBD brands and operations in both Europe and North America, with the goal of establishing an international distribution network for CBD products. Low cost production, coupled with international, direct to customer, sales channels will provide the foundation for the success of Mota Ventures.
ON BEHALF OF THE BOARD OF DIRECTORS
MOTA VENTURES CORP. Ryan Hoggan Chief Executive Officer
For further information, readers are encouraged to contact Joel Shacker, President, at +604.423.4733 or by email at [email protected] or www.motaventuresco.com
Posted by AGORACOM-JC
at 7:41 PM on Sunday, April 5th, 2020
With 165,000 patients, Empower Clinics (CBDT:CSE) (EPWCF:OTCQB) has a database that almost every medical cannabis and CBD company would kill for. Patient visits increased 800% in February. 590% in March and 480% for Q1. But will Coronavirus social gathering imitations put the clinic network at risk?
No. In fact, it has had the opposite effect, with the clinics being designated an essential service. Moreover, Empower has had to actually increase operating hours due to demand from existing patients who need their CBD medication more than ever, as well as, new patients who are experiencing anxiety and stress through the COVID-19 pandemic. Â
Moreover, the Company has also entered expanded into telemedicine across multiple states for patients who can’t get to a clinic but need a consultation with doctors over the phone to determine the best CBD medications for home delivery.
Watch this interview with the Company’s CEO, Steven McAuley, who is Six Sigma certified under the quality initiative of legendary GE chairman Jack Welch. We’ve never seen a Six Sigma certified CEO in the Canadian small cap markets. Never …. which also explains how McAuley has been able to guide Empower Clinics through the most disruptive retail environment in recent history. Â
Grab your favourite beverage and settle in to watch what may be your next great small cap investment
Posted by AGORACOM-JC
at 12:19 PM on Saturday, April 4th, 2020
Immune Support product line has been received exceptionally well by consumers
The total number of customers acquired by First Class CBD in March 2020 is 20,959, including 6,419 immune customers
Initial average spend of Cdn$218.40 per customer
VANCOUVER, BC / April 4, 2020 Mota Ventures Corp. (CSE:MOTA)(FSE:1WZ1)(OTC:PEMTF) (the “Company” or “Mota“) is pleased to provide an update on the recent progress that is fueling the increase in sales for products under its First Class CBD brand. The Immune Support product line has been received exceptionally well by consumers since it launched on March 14, 2020 and has been a significant driver of growth in March. The total number of customers acquired by First Class CBD in March 2020 is 20,959, including 6,419 immune customers with an initial average spend of Cdn$218.40 per customer.
The Company will be launching a new brand, Nature’s Exclusive CBD on April 6, 2020. The new Nature’s Exclusive CBD brand will introduce a line of Immune Support and CBD products with a higher content of CBD. The Company also anticipates releasing March 2020 financial results for First Class CBD in the next few days.
“The month of March has been exceptional, with new customer signups exceeding expectations. We believe this is a testament to our ability to adapt to the fast-paced eCommerce sector and ability to identify upcoming trends in consumer demand. I am very excited with the rapid progress and look forward to releasing March results in the upcoming days,” stated Ryan Hoggan, CEO of the Company.
The initial average spend per customer was translated from US dollar into Canadian dollar using the Bank of Canada average exchange rate of 1.3953 for March 2020.
About Mota Ventures Corp.
Mota is an established eCommerce, direct to consumer provider of a wide range of CBD products in the United States and Europe. In the United States, the company sells a CBD hemp-oil formulation derived from hemp grown and formulated in the US through its First Class CBD and Nature’s Exclusive brands. Within Europe, its Satavida brand of award winning 100% organic CBD oils and cosmetics are sold throughout Spain, Portugal, Austria, Germany, France, and the United Kingdom. Mota Ventures is also seeking to acquire additional revenue producing CBD brands and operations in both Europe and North America, with the goal of establishing an international distribution network for CBD products. Low cost production, coupled with international, direct to customer, sales channels will provide the foundation for the success of Mota Ventures.
ON BEHALF OF THE BOARD OF DIRECTORS
MOTA VENTURES CORP. Ryan Hoggan Chief Executive Officer
For further information, readers are encouraged to contact Joel Shacker, President, at +604.423.4733 or by email at [email protected] or www.motaventuresco.com
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 press release, which has been prepared by management.
All statements in this press release, other than statements of historical fact, are “forward-looking information” with respect to the Company within the meaning of applicable securities laws, including with respect to the anticipated launch of products under the First Class CBD brand, the financial results of First Class CBD, its plans to become a vertically integrated global CBD brand, its plans to cultivate and extract cannabis to produce CBD and high-quality value added CBD products in Latin America for distribution domestically and internationally. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited those identified and reported in the Company’s public filings under the Company’s SEDAR profile at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
Posted by AGORACOM-JC
at 3:03 PM on Friday, April 3rd, 2020
Company has signed a non-binding letter of intent with Heather Marianna, LLC, doing business as Beauty Kitchen
The LOI is non-binding and subject to possible change and the signing of a definitive agreement
VANCOUVER, British Columbia, April 03, 2020 — PRIMO NUTRACEUTICALS INC. (CSE: PRMO) (OTC: BUGVF) (FSE: 8BV) (DEU: 8BV) (MUN: 8BV) (STU: 8BV) (“Primo” or the “Company”)Pursuant to discussions with IIROC (Investment Industry Regulatory Organization of Canada) Primo’s board and management team are providing more clarity to its shareholders in regards to the press release issued on March 31st, 2020.
The Company has signed a non-binding letter of intent (LOI) with Heather Marianna, LLC, doing business as Beauty Kitchen, a Nevada company, (“Beauty Kitchenâ€). The LOI is non-binding and subject to possible change and the signing of a definitive agreement.
Primo and Beauty Kitchen intend to draft and execute a definitive agreement (the “Definitive Agreementâ€) with detailed terms and conditions in the near future. Beauty Kitchen intends to incorporate a Canadian corporation, Marianna, Inc., (“Marianna, Inc.â€) in which it will conduct operations in Canada. Primo will acquire an ownership interest of 25% of the common voting (TBC) shares in Marianna, Inc., for consideration to be determined in the Definitive Agreement. Primo wishes to inform its shareholders that the transaction described by the LOI is subject to change pending signing of the Definitive Agreement.
On behalf of the Board of Directors
PRIMO NUTRACEUTICALS INC.
“Andy Jagpalâ€
President and Director
For further information, please contact Zoltan, IR Representative at: 604-722-0305, or; [email protected].
To learn more about what this news means to the shareholders visit:
FORWARD LOOKING STATEMENTS: This news release contains certain forward-looking statements within the meaning of Canadian securities laws. Forward-looking statements are based on the expectations and opinions of the Company’s management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise. No regulatory authority has approved or disapproved the information contained in this news release.
Posted by AGORACOM
at 1:27 PM on Friday, April 3rd, 2020
RECENT HIGHLIGHTS
Immune Support Product Line Launched on March 14, 2020 Acquired over 5,500 new customers seeking natural solutions to help support their family’s immune systems, yielding an average initial order value of $189.00 USD.
First Class CBD brand achieved sales of Cdn$2,981,000 February 2020
Marketing efforts improved gross margins by 4.9% from January 2020 to February 2020.
February 2020 revenue represents an increase of 832% over the same period last year.
Plans to continue growth of First Class in the United States over the balance of 2020, as well as an expansion into the European market.
Formalized Joint Venture With Bevcanna Enterprises: Read More
Will share equal ownership in the Joint Venture and will be jointly responsible for developing and funding its operations
Company will provide manufacturing, marketing and distribution infrastructure in the European market.
Parties have determined an initial product launch and will provide further details on specific regions and timing once finalized
Formalized Collaboration for Sativida US Expansion Read MoreÂ
Acquired the intellectual property and trade names of Sativida
Unified Funding will provide assistance to Sativida with product sourcing, packaging, shipping, payment infrastructure and marketing
Sativida has become the number one search-ranked online retailer of CBD products in Spain and Mexico
Entered into Licensing Agreement with Phenome One Read More
A privately held full-service live genetic and seed preservation cannabis company.
Mota will have full access to Canada’s largest live genetic cannabis library with over 350 cultivars
Mota will have the right to propagate, cultivate, harvest and process a minimum of 10 selected cultivars
2 World Class Brands:
#1. FIRST CLASS CBD: ONE OF THE LARGEST US BASED ONLINE RETAILERS OF CBD PRODUCTS
HIGHLIGHTS:
Leader in online CBD sales in North America
Crop to package model: US grown CBD hemp
Acquired at a 1.5 times revenue valuation
Current customer base 142,000 customers -with additional leads of over 424,000 potential new customers
2019 Sales of $19.2M USD/ EBITDA of 2.7M USD
#2. SATIVIDA: ONLINE DIRECT TO CONSUMER RETAILER OF A VAST RANGE OF ORGANICE CBD OILS AND COSMETICS
HIGHLIGHTS:
Current distributor of CBD products in Spain, Portugal, Austria, Germany, France and the United Kingdom
Number one search-ranked online retailer in Spain and Mexico
Award winning product line known for its minimal heavy metal content and accurate CBD levels
100% organic products
About Mota Ventures Corp.
Mota Ventures is seeking to become a vertically integrated global CBD brand. Its plan is to cultivate and extract CBD into high-quality value added products from its Latin American operations and distribute it both domestically and internationally. Mota has established distribution networks through the acquisition of First Class CBD in the United States and Sativida in Europe. Mota Ventures is also seeking to acquire revenue producing CBD brands and operations in both Europe and North America, with the goal of establishing an international distribution network for CBD products. Low cost production, coupled with international, direct to customer, sales channels will provide the foundation for the success of Mota Ventures.
Posted by AGORACOM-JC
at 7:21 AM on Wednesday, April 1st, 2020
Announced that patient visits in corporate clinics increased by 593%% in March 2020 versus the same period in 2019,
total patient visits of 2,160 in March 2020 compared to 364 in March 2019
1Q 2020 patient visits increased by 478% versus the same period 2019, with total patient visits of 5,717 in 1Q 2020 compared to 1,196 in 1Q 2019.
VANCOUVER, BC / April 1, 2020 / EMPOWER CLINICS INC. (CSE: CBDT) (OTC: EPWCF) (Frankfurt 8EC) (“Empower” or the “Company”), a vertically integrated and growth-oriented life sciences company, is pleased to announce that patient visits in corporate clinics increased by 593%% in March 2020 versus the same period in 2019, with total patient visits of 2,160 in March 2020 compared to 364 in March 2019.
1Q 2020 patient visits increased by 478% versus the same period 2019, with total patient visits of 5,717 in 1Q 2020 compared to 1,196 in 1Q 2019.
“These are unprecedented times, yet our team members remain dedicated to supporting patients every day, at record levels, using new operational techniques and safety protocols” said Steven McAuley, Chairman & CEO of Empower. “I am so proud of our management, our staff’s willingness to adjust to changing times, and our commitment to the daily needs of patients.”
The Company has also entered into to a new tele-medicine service agreement that will provide access to our physicians across multiple states, offering current and new modalities to existing and new patients. Additional announcements about the Company’s digital health initiatives will be forthcoming.
The Company has also issued a total of 600,000 stock options priced at $0.05 CAD to investor relation service providers and to a Director of the Company.
ABOUT EMPOWER
Empower is a vertically-integrated health & wellness brand with it’s first hemp-derived CBD extraction facility under development, the Company produces its proprietary line of cannabidiol (CBD) based products and distributes products through company owned and franchised clinics, with wholesale partnerships, online channels and with new retail opportunities nationwide in the U.S. The company is a leading multi-state operator of a network of physician-staffed wellness clinics, focused on helping patients improve and protect their health, through innovative physician recommended treatment options. The company has commenced activity on how to connect its significant data, to the potential of the efficacy of alternative treatment options related to hemp-derived cannabidiol (CBD) therapies.
For French inquiries: Remy Scalabrini, Maricom Inc., E: [email protected], T: (888) 585-MARI
DISCLAIMER FOR FORWARD-LOOKING STATEMENTS
This news release contains certain “forward-looking statements” or “forward-looking information” (collectively “forward looking statements”) within the meaning of applicable Canadian securities laws. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Forward-looking statements can frequently be identified by words such as “plans”, “continues”, “expects”, “projects”, “intends”, “believes”, “anticipates”, “estimates”, “may”, “will”, “potential”, “proposed” and other similar words, or information that certain events or conditions “may” or “will” occur. Forward-looking statements in this news release include statements regarding; the Company’s intention to open a hemp-based CBD extraction facility, the expected benefits to the Company and its shareholders as a result of the proposed acquisitions and partnerships; the effectiveness of the extraction technology; the expected benefits for Empower’s patient base and customers; the benefits of CBD based products; the effect of the approval of the Farm Bill; the growth of the Company’s patient list and that the Company will be positioned to be a market-leading service provider for complex patient requirements in 2019 and beyond. Such statements are only projections, are based on assumptions known to management at this time, and are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the forward-looking statements, including; that the Company may not open a hemp-based CBD extraction facility; that legislative changes may have an adverse effect on the Company’s business and product development; that the Company may not be able to obtain adequate financing to pursue its business plan; general business, economic, competitive, political and social uncertainties; failure to obtain any necessary approvals in connection with the proposed acquisitions and partnerships; and other factors beyond the Company’s control. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. Readers are cautioned not to place undue reliance on the forward-looking statements in this release, which are qualified in their entirety by these cautionary statements. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements in this release, whether as a result of new information, future events or otherwise, except as expressly required by applicable laws.
Posted by AGORACOM-JC
at 9:39 AM on Tuesday, March 31st, 2020
Signed a letter of intent with Heather Marianna, LLC parent company of (“Beauty Kitchenâ€)
The Board of Directors of Primo have approved, in principle, a proposal to acquire and raise funding in respect of its interests in the “Beauty Kitchen” projects into a newly incorporated subsidiary
Beauty Kitchen is a company that manufactures fresh handmade beauty care, personal care, and cosmetics products, which was born from the hugely popular Beauty Kitchen YouTube series
VANCOUVER, British Columbia, March 31, 2020 – PRIMO NUTRACEUTICALS INC. (CSE: PRMO) (OTC: BUGVF) (FSE: 8BV) (DEU: 8BV) (MUN: 8BV) (STU: 8BV) (“Primo” or the “Company”) is pleased to announce that it has signed a letter of intent (“LOIâ€) with Heather Marianna, LLC parent company of (“Beauty Kitchenâ€) a Nevada company. The Board of Directors of Primo have approved, in principle, a proposal to acquire and raise funding in respect of its interests in the “Beauty Kitchen” projects into a newly incorporated subsidiary.
Beauty Kitchen proposes a transaction whereby its management team
(and affiliates) incorporates a Canadian corporation, tentatively called
“Marianna, Inc.†to receive exclusive Canadian distribution rights to
its CBD infused and non-CBD infused products in handmade beauty care,
personal care, and cosmetic products. Primo will acquire ownership
interest of a minimum of 25% in the newly incorporated subsidiary.
Beauty Kitchen is a company that manufactures fresh handmade beauty
care, personal care, and cosmetics products, which was born from the
hugely popular Beauty Kitchen YouTube series. Founder and CEO, Heather
Marianna, skyrocketed in popularity with the launch of her Beauty
Kitchen YouTube series in 2012 where she showcased simple,
do-it-yourself beauty recipes made with common kitchen household
ingredients. The series generated a powerful following of more than 4
million viewers.
The Company plans to reorganize its operating divisions along with
the closing of the acquisition and financing for its subsidiary. It is
proposed that the transaction may be carried within a statutory plan of
arrangement (the “Spin-Out“) pursuant to the Business Corporations Act (British Columbia) under the “reorganization exemption†under the Securities Act.
The Plan of Arrangement will be subject to the approval of Primo’s
shareholders which Primo intends to seek at a special meeting of
shareholders (the “Shareholders’ Meeting“). The date
for the Shareholders Meeting has not yet been determined. The
transaction may be subject to rules of The Canadian Stock Exchange (“CSE“) approval and any Plan of Arrangement requires approval by Court Order of the British Columbia Supreme Court.
The Parties intend to draft and execute a definitive agreement (the “Definitive Agreementâ€)
with detailed terms as soon as practicable, and complete this
Transaction on or before April 30, 2020. Terms of the LOI are subject to
change as set out in the Definitive Agreement.
Andy Jagpal, President Comments:
“This LOI is our second step into the growing CBD and Natural
Health market. Primo’s vision and strategy is to acquire a minority
interest in companies like Beauty Kitchen and Thrive as our growth
strategy in 2020 and beyond. These two brands along with Primo’s will
enter this fledgling Natural Health & CBD market with an online
presence as well as retail one too. We are very excited about the value
this partnership will bring to the company and its shareholders.â€
About Beauty Kitchen Beauty Kitchen is a company
that manufactures fresh handmade beauty care, personal care, and
cosmetics products, which was born from the hugely popular Beauty Kitchen YouTube series.
The founder, Heather Marianna, a bubbly social media personality,
translated her passion for looking and feeling her absolute best into
the development of her all-natural beauty and skincare product line.
Beauty Kitchen’s founder and CEO, Heather Marianna, skyrocketed in
popularity with the launch of her Beauty Kitchen YouTube series in 2012
where she showcased simple, do-it-yourself beauty recipes made with
common kitchen household ingredients. The series generated a powerful
following of more than 4 million viewers. Beauty Kitchen is regularly featured in: Forbes,
The Source, MTV, Bravo, The New York Post, People, Flipsnack, Vegas,
Star Magazine, Radar Online and many more media outlets with a large
following of celebrities who use their products which include; Sean
“Puffy†Combs, Christina Milian, David Arquette, George Lopez, Larissa
Lima, Shark Tank’s Barbara Corcoran, Candace Cameron, Jen Harley, Lou
Ferrigno, The Real Housewives of Beverly Hills and others. For more information visit: www.beautykitchenonline.com
About Primo Nutraceuticals Primo Nutraceuticals
Inc. (“Primo” or the “Company”) provides strategic capital to the
thriving cannabis cultivation sector through ownership and development
of commercial real estate and farm friendly properties. Primo is
dedicated to funding the rapid growth in production, processing, retail
and branding of cannabis and cannabis related products in Canada and the
United States. Primo has invested in several brands and is pursuing
partnerships with retailers and distribution companies in Canada and the
United States. Primo’s management is in the process of building a
corporate road map to further vertically integrate the Company,
specifically by way of “Primo†branded retail outlets – offering
“Thrive,” “Primo,” and a selection of curated partner brands. The
Company possesses proprietary formulas for cannabis edibles, topical,
and tinctures. Primo is focused on building a strong presence in the
hemp industry with the objective of extracting and selling cannabinoids
(CBD) products in both Canada and the United States.
On behalf of the Board of Directors
PRIMO NUTRACEUTICALS INC.
“Andy Jagpalâ€
President and Director
For further information, please contact Zoltan, IR Representative at: 604-722-0305, or; [email protected].
To learn more about what this news means to the shareholders visit
FORWARD LOOKING STATEMENTS: This news release
contains certain forward-looking statements within the meaning of
Canadian securities laws. Forward-looking statements are based on the
expectations and opinions of the Company’s management on the date the
statements are made. The assumptions used in the preparation of such
statements, although considered reasonable at the time of preparation,
may prove to be imprecise and, as such, undue reliance should not be
placed on forward-looking statements. The Company expressly disclaims
any intention or obligation to update or revise any forward-looking
statements whether as a result of new information, future events or
otherwise.
No regulatory authority has approved or disapproved the information contained in this news release.
Tags: CBD, covid19, Hemp, Marijuana, stocks Posted in PRIMO Nutraceuticals Inc. | Comments Off on Primo Nutraceuticals Inc. $PRMO.ca Signs LOI to enter in to Funding and Share Purchase Agreement for 25% with Beauty Kitchen (Canada) $CROP.ca $VP.ca NF.ca $MCOA
Posted by AGORACOM-JC
at 9:21 AM on Monday, March 30th, 2020
At a time when established Cannabis stocks are struggling due to an inability to actually deliver real businesses, Hollister Biosciences (HOLL:CSE) has been quietly building a real business, products, revenue and customers in 220 of California’s 600 dispensaries …. and growing, including California’s #1 hash infused pre-roll “Hashbone”. Â
If that was all Hollister had going, they’d be in great shape with a super bright future and better than most Cannabis companies (small and large) who can’t even get product out the door. Â
BUT THERE’S MORE – THE $20,000,000 ACQUISITION THAT COMES WITH $CDN 16.4M REVENUE & $CDN 2.48M EBITDA Â
Hollister has closed their purchase of Venom Extracts, one of Arizona’s largest producers of Award-Winning Medical Cannabis Distillate. Just how good is Venom? In 2019, Venom generated $CDN 16.4M in revenue and $CDN 2.48M EBITDA in 2019 … and all of that was just from the state of Arizona. Â
In this amazing interview, Venom Founder Jake Cohen discusses Venom’s aggressive plans to expand its brand and success into other states, including California as it benefits from Hollister’s distribution into 220 dispensaries. Right now, some of you may be thinking, “yeah but everybody thinks they are going to expand” …. but Jake’s words, as well as those of Alex Somjen (President) and Carl Saling (CEO) are backed up by action.  Â
Specifically, a significant chunk of Venom’s acquisition shares kicks in if/when revenues hit $CDN 30,000 and $CDN 40,000 …. by December 31, 2021. In my experience, companies joining forces don’t include such terms if there isn’t a reasonable expectation for hitting those numbers. It doesn’t guarantee it but you can bet they have good reason to believe Venom sales will get to one or both of those numbers in just 21 months from now. Â
If you’re looking for Cannabis companies that are going to survive and thrive over this next decade, then grab your favourite beverage and watch this great interview with Carl Saling, Alex Somjen and Jacob Cohen.
Posted by AGORACOM-JC
at 7:18 AM on Monday, March 30th, 2020
This highly accretive acquisition strengthens Hollister’s brand portfolio and broadens its distribution footprint across multiple states positioning Hollister to transform into an industry leader in 2020 and beyond
Venom Extracts reports having generated over CDN$16.4 million in revenue and over CDN$2.5 million in EBITDA from its product line of cannabis concentrates and cartridges.Â
VANCOUVER, March 30, 2020Â –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 further to the signing of the definitive agreement, as amended (the “SEA“), the Company has now closed its transformational acquisition of Venom Extracts (“Venom Extracts“), a leading Arizona cannabis extract brand and one of the state’s largest producers of award-winning medical cannabis distillate and related products (the “Transaction“).
HIGHLY ACCRETIVE $20,000,000 ACQUISITION, ADDING OVER CDN$16.4 MILLION OF 2019 REVENUE
For the year ended December 31, 2019, management of Venom Extracts reports having generated over CDN$16.4 million in revenue and over CDN$2.5 million
in EBITDA from its product line of cannabis concentrates and
cartridges. Venom Extract’s management also reports a strong start to
2020 and is anticipating record Q1 revenue.
The all-stock purchase price of approximately CDN$20,000,000
represents a transaction multiple of 1.2x 2019 revenue, with
approximately 70% of the consideration paid upfront and the
approximately 30% balance to be paid upon milestone achievements related
to revenue targets for Venom Extracts, or in any event, on December 31, 2021. After conducting normal course due diligence, the Transaction closed effective March 24, 2020 (the “Closing Date“).
KEY TERMS OF THE TRANSACTION:
Pursuant to the terms of the SEA, the Company has acquired Venom Extracts for consideration of CDN$20,000,145.20 which is to be satisfied by the issuance of 70,390,672 Hollister common shares (the “Payment Shares“) on the Closing Date pro rata to the shareholders of Venom Extracts and an additional 29,610,054 common shares (the “Earn-Out Shares“)
to certain former shareholders of Venom Extracts on the earlier of (i)
Venom Extracts reaching certain revenue milestones (detailed below), or
(ii) December 31, 2021.
The Payment Shares and the Earn-Out Shares will be issued at a deemed value of CDN$0.20 per share;
The Payment Shares are subject to certain voluntary hold periods
with 90% of the Payment Shares being subject to hold periods as follows:
15% until May 25, 2020; and an additional 15% every six months until November 25, 2022;
The Earn-Out Shares will be issued on the earlier of (i) December 31, 2021, or (ii) when and if the following milestones have been met:
19,740,036 Earn-Out Shares will be issued when revenue of Venom Extracts reaches CDN$30,000,000 (calculated in accordance with IFRS from January 1, 2020); and
An additional 9,870,018 Earn-Out 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 extremely pleased to complete this transformational and highly accretive acquisition”, shared Carl Saling, Founder and CEO of Hollister Biosciences Inc. “Our acquisition of Venom Extracts bolts on substantial revenue and EBITDA to Hollister, while providing Venom Extracts the ability to expand its offering of premium branded product into the California marketplace. Likewise, our acquisition also allows Hollister to introduce its products into the Arizona and Nevada marketplaces through Venom Extracts’ existing distribution channels.”
“This is an exciting acquisition and we are very pleased to announce closing”, shared Jacob Cohen, Founder of Venom Extracts. “This transaction represents the next step in ensuring the future growth of both Hollister and Venom Extracts. We are looking forward to increasing our geographic presence by expanding into the California marketplace through Hollister’s existing platform, and exploring expansion of our existing product portfolio 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.
In connection with the Transaction, the Company issued 6,000,000 common shares (the “Finder Shares“) to an arm’s length third party finder at a deemed price of $0.20
per Finder Share. The Finder Shares are subject to a statutory hold
period of four months and a day from the Closing Date which expires July 25, 2020.
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.
None of the securities to be issued pursuant to the Transaction have
been or will be registered under the U.S. Securities Act of 1933, as
amended (the “U.S. Securities Act“), or any state
securities laws, and any securities issued pursuant to the Transaction
are anticipated to be issued in reliance upon available exemptions from
such registration requirements pursuant to Rule 506(b) of Regulation D
and/or Section 4(a)(2) of the U.S. Securities Act and applicable
exemptions under state securities laws. In addition, the securities
issued under an exemption from the registration requirements of the U.S.
Securities Act will be “restricted securities” as defined under Rule
144(a)(3) of the U.S. Securities Act and will contain the appropriate
restrictive legend as required under the U.S. Securities Act.
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.
The CSE 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.
Tags: Cannabis, CBD, CSE, Hemp, Marijuana, stocks, tactical relief, tsx Posted in Featured, Hollister Biosciences | Comments Off on Hollister Biosciences $HOLL.ca Closes Transformational Acquisition of Rapidly Growing Venom Extracts Adding Over $16.4 Million In 2019 Revenue and $2.5 Million in EBITDA $WEED.ca $CGC $ACB $APH $CRON.ca $OGI.ca $FAF.ca
Posted by AGORACOM
at 5:06 PM on Friday, March 27th, 2020
Since March 14, 2020, Mota has acquired over 5,500 new customers
The product has yielded an average initial order value of $189.00 USD.
Mota Ventures Corp. (CSE:MOTA)(FSE:1WZ:GR)(OTCPINK:PEMTF) (the “Company” or “Mota“) is pleased to announce that since the launch of its Immune Support product line on March 14, 2020, the Company has acquired over 5,500 new customers seeking natural solutions to help support their family’s immune systems. The popularity of the primary product has yielded an average initial order value for immune support customers of $189.00 USD. Earlier this week the Company introduced an Immune CBD oil and Elderberry Gummies. The new Immune CBD product contains CBD, B3, B12, vitamin C and zinc and is made from 100% pure essential oils containing cinnamon leaf, lemon, clove bud, lime, eucalyptus, globulus, rosemary, peppermint, spearmint and oregano.
The Company has acquired over
50,000 new customer inquiries for Immune Support/CBD products since
March 14, 2020. The Immune Support line is gaining interest from
customers that historically were hesitant to purchase CBD, but are now
interested in the Immune products and the potential anti-inflammatory
benefits of CBD. In addition, traditional brick-and-mortar stores have
been affected due to social distancing requirements, driving consumers
to purchase online from the safety of their homes.
“The Immune
Support product launch has been the most successful product launch in
the history of our First Class brand. E-Commerce is a fast-moving
sector, especially during these very unique times we are facing today.
Our ability as a company to quickly develop and launch new products to
meet market demand is a testament to our expertise. I am very excited by
the reception we have received to date for our Immune Line of products.
I project demand for the line will continue through Q2 and be a
significant driver to our growth for 2020,” stated Ryan Hoggan, CEO of
the Company.
Additionally, the Company has entered into a 12 month
programmatic digital advertising campaign with Native Ads, Inc. for a
total cost of C$80,000; consisting of C$72,000 for digital advertising,
paid distribution, and media buying over the campaign period and,
C$8,000 for content creation, consulting, managed services and
management fees over the course of the campaign period. Native Ads is a
full-service advertising agency, that owns and operates a proprietary ad
exchange with over 80 integrated SSPs (supply side platforms) resulting
in access to 3-7 billion daily North American ad impressions. Neither
Native Ads nor any of its directors and officers own any securities of
the Company.
About Mota Ventures Corp.
Mota is
seeking to become a vertically integrated global CBD brand. Its plan is
to cultivate and extract CBD into high-quality value-added products from
its Latin American operations and distribute it both domestically and
internationally. Its existing operations in Colombia consist of a
2.5-hectare site that has optimal year-round growing conditions and
access to all necessary infrastructure. 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.
ON BEHALF OF THE BOARD OF DIRECTORS MOTA VENTURES CORP.
Ryan Hoggan Chief Executive Officer
For
further information, readers are encouraged to contact the President of
the Company, Joel Shacker, at +604.423.4733 or by email at [email protected] or www.motaventuresco.com
