Posted by AGORACOM
at 5:57 PM on Thursday, November 28th, 2019
Definitive distribution agreement to partner on the sale of Vertical’s wollastonite from its world-class St-Onge Deposit.
Supplying the fast growing cannabis and hemp industries.
Vertical’s high quality Wollastonite has been shown to be beneficial to cannabis plants in a variety of ways
In every case the most optimal results occurred with an admixture rate of 10% to 15% wollastonite to the growth medium.
The high-grade St-Onge Wollastonite deposit has pit-constrained mineral resources of: 7,155,000 tonnes Measured@ 36.20% Wollastonite & 6,926,000 tonnes Indicated@ 37.04%
B.C. Buds Testing Confirmed Wollastonite is critical to marijuana growers
Engaged AGRINOVA over the past year to conduct research and testing of Vertical’s St-Onge wollastonite on a range of important agricultural end uses.
WOLLASTONITE
St-Onge-Wollastonite Deposit located approximately 90 kilometres
Northwest of the city of Saguenay, in St-Onge township, in the
Saguenay-Lac-St-Jean region of Quebec, Canada.
Research and testing in the Phase 1 program for use in cannabis growth was managed and monitored by AGRINOVA, a highly-regarded Center for Research and Innovation in Agriculture in Quebec
Posted by AGORACOM-JC
at 10:12 AM on Thursday, November 28th, 2019
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Consumers research CBD more than many other wellness trends, study finds
American consumers are researching CBD more than many other alternative health trends and products, according to a new study looking at Google searches.
Health scientists from the University of California, San Diego, Johns
Hopkins University in Baltimore and the University of York in the
United Kingdom measured U.S. Google searches that mentioned CBD and
cannabidiol from 2004 through April of this year.
The study found that while search volumes were consistent from 2004
to 2014, they began to grow significantly in 2016. Search volumes
increased year-over-year by 125.9% in 2017 and 160.4% in 2018, and they
are expected to be 117.7% higher in 2019.
In April 2019, there were 6.4 million Google searches for CBD, the
researchers wrote in an American Medical Association journal detailing
their findings.
The April 2019 searches for CBD were on par with yoga and
e-cigarettes but seven times more prevalent than acupuncture, five times
higher than apple cider vinegar and three times more than meditation.
CBD searches also outnumbered searches for:
Vaccination
Exercise
Marijuana
Veganism
Researchers broke down the results by state. Searches for CBD this
year were highest in Vermont, Wisconsin, Tennessee, Colorado, New
Hampshire and Oregon.
Posted by AGORACOM-JC
at 10:38 AM on Wednesday, November 27th, 2019
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(CSE: PRMO) (OTC: BUGVF) (FSE: 8BV) (DEU: 8BV) (MUN: 8BV) (STU: 8BV)
provides strategic capital to the thriving cannabis cultivation
sector through ownership and development of commercial real estate
properties. The company also offers fully built out turnkey facilities
equipped with state-of-the-art growing infrastructure to cannabis
growers and processors. Click here for more info.
WHO Report Finds No Public Health Risks Or Abuse Potential For CBD
According to a preliminary WHO report published last month, naturally occurring CBD is safe and well tolerated in humans (and animals), and is not associated with any negative public health effects [PDF].
Experts further stated that CBD, a non-psychoactive chemical found in cannabis, does not induce physical dependence and is “not associated with abuse potential.” The WHO also wrote that, unlike THC, people aren’t getting high off of CBD, either.
By: Janet Burns
A World Health Organization (WHO) report has found no adverse health
outcomes but rather several medical applications for cannabidiol, a.k.a.
CBD, despite U.S. federal policy on this cannabinoid chemical.
According to a preliminary WHO report published last month, naturally
occurring CBD is safe and well tolerated in humans (and animals), and
is not associated with any negative public health effects [PDF].
Experts further stated that CBD, a non-psychoactive chemical
found in cannabis, does not induce physical dependence and is “not
associated with abuse potential.” The WHO also wrote that, unlike THC,
people aren’t getting high off of CBD, either.
“To date, there is no evidence of recreational use of CBD or any
public health related problems associated with the use of pure CBD,”
they wrote. In fact, evidence suggests that CBD mitigates the effects of
THC (whether joyous or panicky), according to this and other reports.
The authors pointed out that research has officially confirmed some positive effects of the chemical, however.
The WHO team determined that CBD has “been demonstrated as an
effective treatment for epilepsy” in adults, children, and even animals,
and that there’s “preliminary evidence” that CBD could be useful in
treating Alzheimer’s disease, cancer, psychosis, Parkinson’s disease, and other serious conditions.
The Herbal Chef CEO and Head Chef Chris Sayegh measures the dose of CBD cannabis extract as he… [+]
In acknowledgement of these kinds of discoveries in recent years, the
report continued, “Several countries have modified their national
controls to accommodate CBD as a medicinal product.”
But the U.S., the report noted, isn’t one of them.
As a cannabis component, CBD remains classified as a Schedule I
controlled substance, meaning it has a “high potential for abuse” in the
federal government’s view. Nevertheless, the “unsanctioned medical use”
of CBD is fairly common, experts found.
For many CBD users in the U.S., the substance’s mostly unsanctioned
and illegal state creates problems, especially as a wave of online
(mostly hemp) and store-bought CBD oils and extracts have allowed
patients to take the treatment process–and the risks involved in buying
unregulated medicine–into their own hands and homes.
While CBD itself is safe and found to be helpful for many users,
industry experts have warned that not all cannabis extracts are created
equally, purely, or with the same methods of extraction.
And while reports of negative reactions to pure CBD are very few and
far between, researchers are able to say that the cannabinoid wouldn’t
be to blame alone. “Reported adverse effects may be as a result of
drug-drug interactions between CBD and patients’ existing medications,”
they noted.
As the cannabis reform nonprofit NORML
reported, the WHO is currently considering changing CBD’s place in its
own drug scheduling code. In September, NORML submitted written
testimony to the U.S. Food and Drug Administration (FDA) opposing the enactment of international restrictions on access to CBD.
The FDA, which has repeatedly declined
to update its position on cannabis products despite a large and
ever-growing body of evidence on the subject, is one of a number of
agencies that will be advising the WHO in its final review of CBD.
Perhaps this time around the FDA will listen, and learn something.
The report was presented by the WHO’s Expert Committee on Drug
Dependence, and drafted under the responsibility of the WHO Secretariat,
Department of Essential Medicines and Health Products, Teams of
Innovation, Access and Use and Policy, Governance and Knowledge.
Posted by AGORACOM-JC
at 5:04 PM on Tuesday, November 26th, 2019
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Cannabis edibles preview: What to expect come mid-December
June 2019 report by Deloitte titled “Nurturing new growth: Canada gets ready for Cannabis 2.0†estimated the size of the edible and alternative cannabis product market could be “worth more than $2.5 billion a year and generate higher profits for retailers than cannabis products that are already legal.â€
Edibles are on the way.
The 60-day Health Canada review period for cannabis edibles, extracts
and topical products began counting down after the second wave of
cannabis legalization across Canada came into effect Oct. 17.
With that review period set to end in mid-December, it won’t be long
now before consumers can purchase and try all the new cannabis products
licensed retailers are set to offer.
The Toronto Sun spoke with Sarah Gillin, COO of Etobicoke-based cannabis producer Olli Brands about what they have in store for customers.
“Olli is planning on launching with a strawberry real fruit chew, a
butter cookie, a hemp crunch chocolate and five specialty tea blends —
melo green, vanilla black, misty mint, sweet chamomile and my personal
favourite, the berry bliss,†Gillin said, adding, “They will be offered
in a variety of dosing options with CBD being featured prominently in
almost all of them.â€
This combo photo (top) shows Olli brands Butter Cookie edible and (bottom) their Misty Mint cannabis tea. Supplied
Gillin explained Olli partnered with Adrian Niman, a Michelin trained executive chef from The Food Dudes, to help develop and hand prepare the company’s edible products.
Olli will also be providing specialty cannabis teas. Gillin says
Richard Guzauskas, Olli’s in-house “tea sommelier,†helps to
internationally source the ingredients.
The “Sweet Chamomile Herbal Tea†is described on Olli’s website as a
“Sweet and relaxing with an apple-honey aroma, this blend will lull you
into calm.â€
Canopy Growth Edibles and Beverages ‘Sneak Peek’ Tastings and Tours Beverages. Supplied photo jpg
Canopy Growth’s Tweed Inc. unveiled
its line of 13 expected cannabis-infused beverages in late October. The
low dosage “distilled cannabis†beverages are geared towards being
consumed as a social beverage — with 10 designed to provide you with 2.5
mg of THC (Health Canada permits 10 mg per package).
Aurora Cannabis Inc., a
Canadian owned licensed producer of medical and consumer cannabis gave
eager edible consumers a sneak peek at a line of vapes they are working
on last month as well.
They will come in three formats: a disposable vape pen, premium vape
pen pods, and a pen with a universal cartridge system equipped with a
rechargeable battery. They will be available for purchase on both the
medical and consumer cannabis markets.
It’s worth noting, however, the U.S. Center for Disease Control identified vitamin E acetate as a “chemical of concern†among e-cigarette and vape users.
As of Nov. 20, 2019, the CDC stated there have been “2,290 cases of
e-cigarette, or vaping product use†associated with lung injuries. The
CDC recommends “people should not use THC-containing e-cigarette or
vaping products, particularly from informal sources like friends, or
family, or in-person or online dealers.â€
Meanwhile, a June 2019 report by Deloitte
titled “Nurturing new growth: Canada gets ready for Cannabis 2.0â€
estimated the size of the edible and alternative cannabis product market
could be “worth more than $2.5 billion a year and generate higher
profits for retailers than cannabis products that are already legal.â€
“The edibles market alone is estimated to be worth at least $1.6
billion a year in Canada, with cannabis-infused beverages adding a
further $529 million,†said Jennifer Lee, a partner and Deloitte
Canada’s Cannabis National Leader.
Given the estimated size of the market, “It was not an easy choice,â€
Gillin said of choosing which edibles and alternative cannabis products
to produce.
The review period has generally been frustrating for consumers.
Gillin said the 60 days has been “inconvenient†but also “necessary†to ensure †the safety of consumers.â€
Cannabis edibles will be available in mid-December. Chocolate
Hemp Crunch, left, and Olli brands Strawberry Fruit Chews are two such
products you will be able to get your hands on. Supplied
And they operate in isolation the U.S. and Canada and so while the Canadian market continues to develop, you can also play and get investment exposure into the U.S. story as well.
Ruth Saldanha: Cannabis stocks in Canada have been a
bit of a roller coaster recently. After a dramatic drop earlier this
month, the stocks have somewhat recovered but are still trading below
our fair value estimates. Is now a buying opportunity? Morningstar
Analyst, Kristoffer Inton covers cannabis and is here today to talk
about his views.
Kris, thank you so much for being here today.
Kristoffer Inton: Thank you for having me.
Saldanha: What’s going on with Canadian cannabis? Is the distribution the main culprit here?
Inton: Yeah, I think that’s one of the primary
causes of what’s going on in Canadian distribution. I think also a part
of it is investor expectations. So, I think people forget, this is a
growth industry. These are all very early stage stocks. And when we look
at where we are in terms of the growth cycle, we’ve only just past one
year of recreational legalization. On top of that when you look at how
Canada has been doing in terms of its rollout, you look at its two
biggest provinces, Ontario and Quebec. They’ve really underperformed
relative to expectations in terms of opening dispensaries. So, to us,
it’s a little combination of slower than expected government rollout
limiting demand growth and investor expectations for growth and even
more so profitability a little too soon.
Saldanha: So, should Canadians consider investing in
established U.S. retail players while we still wait for the market here
to develop a bit more.
Inton: Yeah, I would definitely say so. I think that in our view, the U.S. is going to be the biggest and the best cannabis market in the world.
And they operate in isolation the U.S. and Canada and so while the
Canadian market continues to develop, you can also play and get
investment exposure into the U.S. story as well. And because the U.S.
distribution rollout has been a little bit smoother, it looks like
growth and profitability are coming to American companies before it has
come to for the Canadian companies.
Saldanha: After the recent drop in prices is now a buying opportunity for Canadian cannabis.
Inton: Definitely, I think that it definitely
warrants a long-term view. In the near term, it’s not going to take
overnight to open enough stores to get distribution right and to get the
products lined up. So, it won’t happen in the next quarter or so. But
if an investor is patient and willing to wait, they’ll be able to get
exposure to a long runway of growth.
Inton: So, we recommend two Canadian picks. We like Aurora Cannabis (ACB) and we like Canopy Growth (WEED),
really for two different reasons. Aurora Cannabis has largely been
focused on production. And it shows their gross margins are the highest
amongst the Canadian cannabis companies we cover. And we like Canopy
Growth because we think that with the partnership with Constellation
Brands, they’re really focused on developing downstream infused consumer
products. With Cannabis 2.0 hitting Canada later this year and into
next year, we think that Canopy is well exposed to being able to enjoy
growth from that.
Saldanha: Thank you so much for being with us today, Kris.
Tags: Cannabis, CSE, Hemp, Marijuana, stocks, tsx, tsx-v, weed Posted in All Recent Posts, Empower Clinics Inc. | Comments Off on Empower Clinics $CBDT.ca – Canadian #Cannabis 2.0 is on its way and the U.S. is set to be the “biggest and the best cannabis market in the world” $WEED.ca $CGC $ACB $APH $CRON.ca $HEXO.ca $OGI.ca
Posted by AGORACOM-JC
at 10:45 AM on Monday, November 25th, 2019
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provides strategic capital to the thriving cannabis cultivation
sector through ownership and development of commercial real estate
properties. The company also offers fully built out turnkey facilities
equipped with state-of-the-art growing infrastructure to cannabis
growers and processors. Click here for more info.
What’s the difference between CBD derived from hemp and cannabis?
What’s in a name? When it comes to CBD products derived from hemp, CBD products derived from cannabis, and what’s considered legal, a lot.
Understanding cannabis nomenclature and the chemical difference between the two plants is essential to making informed choices about CBD.
Cannabis refers to a genus of plants
which has three species: indica, sativa, and ruderalis. Hemp is not a
different species of the cannabis plant. The above classifications have
been devised to differentiate intoxicating cannabis from
non-intoxicating cannabis. Hemp is a sativa species, while cannabis can
be sativa, indica, or ruderalis.
Although hemp and cannabis look (sort of) similar, from a functional
and chemical perspective, they are distinctive. Here’s how you can
distinguish the two.
(Leafly)
Hemp:
In order to be federally legal, it must contain 0.3% THC or less. For the uninitiated, THC is the cannabinoid that causes a high. With so little THC, hemp doesn’t have intoxicating effects.
Can be used to create products such as textiles, building materials, industrial products, paper, foods, and body care.
Is typically grown outdoors to maximize the size and yield of the
plant. Hemp doesn’t require the same rigorous attention to lighting,
humidity, and temperature that cannabis requires, and it can be grown in
a range of different climates.
Tends to be tall and skinny with skimpy foliage, having an appearance similar to bamboo.
Cannabis:
Can contain 0.3% THC or more. Some high-THC strains can have 30% THC or more.
Is used for recreational or medicinal purposes. You won’t find cannabis plants being used to create hempcrete or denim.
Is generally grown in carefully managed and controlled conditions.
Photoperiodic cannabis requires precise exposure to light in order to
flower—its buds contain the valuable, potent compounds cannabis is famed
for.
Tends to appear bushy, with large, full foliage.
Here’s the tricky thing: Both cannabis and hemp produce CBD. The CBD
molecule is identical regardless of its cannabis source. However, from a
legal perspective, CBD products derived from hemp and CBD products
derived from cannabis are entirely different.
Hemp-derived CBD and cannabis-derived CBD: A legal perspective
According to federal law, cannabis—with 0.3% THC content or higher—is
classified by the DEA as a Schedule I drug with no accepted medical
use. CBD products sourced from cannabis, even those with 0% THC, are
illegal at a federal level by virtue of their plant origin.
Here’s the tricky thing: Both cannabis and hemp produce CBD. The CBD molecule is identical regardless of its cannabis source.
However, at a state level, the law changes. There are 33 US states
which have medical cannabis programs, and CBD derived from cannabis is
available from a licensed dispensary to eligible patients. The
recreational use of cannabis is also legal in 11 states. In these
states, cannabis-derived CBD products are available to those of age.
Industrial hemp, on the other hand, is no longer considered a Schedule I controlled drug. Following the 2018 farm bill,
hemp was reclassified as an agricultural commodity. Since then, there
has been an explosion of CBD products onto the market, prompting the
U.S. Food and Drug Administration (FDA) to issue a statement
that a regulatory framework for CBD products is still in the pipeline,
and foods containing CBD, dietary supplements, and products making
health claims are considered illegal.
CBD products sourced from hemp, such
as oils and tinctures, are legal at a federal level, so long as they
conform with other applicable laws. That said, certain states have their
own legislation and regulations regarding CBD oil.
If you want to purchase CBD and err on the right side of the law,
verify the legal status of hemp-derived CBD and cannabis-derived CBD in
your state, so you know what you can or can’t purchase. Generally,
hemp-derived CBD represents the more legal option.
Other differences between hemp-derived CBD and cannabis-derived CBD
CBD concentration
Cannabis represents a richer source of cannabinoids and terpenes than industrial hemp because it contains significantly more resin.
Resin is the sticky, gooey substance found on female cannabis flowers,
and to a lesser extent, on its leaves. Hemp contains resin on the
flowers and leaves too, but much less. Most industrial hemp cultivators
need to grow large quantities of hemp to produce CBD oil, although there
are now more CBD-rich hemp strains being cultivated.
Safety
Hemp is a bioaccumulator,
so it can absorb toxins such as residual pesticides and heavy metals
from soil. When CBD is extracted from large quantities of industrial
hemp cultivated in non-organic conditions, there is a possibility that
contaminant residue will be passed into the final product. CBD products
sourced from tainted hemp can compromise safety and efficacy.
Regulation
The hemp-derived CBD market is not yet subject to a widely enforced
regulatory framework. For this reason, it’s essential to do your
homework when buying hemp-derived CBD.
Look out for hemp-derived CBD that has been third-party tested.
Products that have undergone this have been checked by an independent
group outside of the producer using industry-approved techniques. The
tester verifies the cannabinoid content of the product, along with heavy
metals, pesticides, or microbes.
Related
How to read a CBD label
A hemp-derived CBD product that has been third-party tested also guarantees you are getting what you paid for. Leafly’s investigation on CBD tested
47 products and found that almost half of them didn’t come within 20%
of the labeled dosage. Third party testing confirms that the promised
CBD content is present.
You can also look for hemp-derived CBD products with a USDA organic
certification. This affirms that the growing conditions meet official
USDA organic standards, and also provides assurance that the hemp
extraction process was free of synthetic chemical additives.
In states where cannabis-derived CBD products are available from
licensed dispensaries, there is greater regulation of these products.
All are subjected to stringent testing from licensed facilities.
Effectiveness
Cannabis tends to have a wider terpene and cannabinoid profile
than hemp. Cannabis-derived CBD from whole plant extract contains a
range of beneficial terpenes and cannabinoids, including THC. These
compounds work in concert with each other to provide additional
benefits. This phenomenon is known as the entourage effect, and many
cannabis experts assert that whole plant extracts offer greater therapeutic potential.
Hemp also contains some cannabinoids and terpenes, but not
the range nor concentration of compounds present in cannabis.
Hemp-derived CBD can be made into an full-spectrum extract that offers
natural terpenes alongside minor cannabinoids. Broad-spectrum CBD is
also available and contains minor cannabinoids and terpenes, but without
the THC content.
However, full-spectrum and broad-spectrum hemp-derived CBD products
may not have the potency of CBD derived from cannabis because trace
amounts of THC appear to be less effective in treating certain symptoms.
CBD isolate
CBD can also be extracted from both hemp and cannabis to become an
isolate. Isolates are identical whether derived from hemp or cannabis
because they only contain CBD molecules. As there is more CBD in
cannabis than hemp, it requires more hemp by dry weight to produce the
same amount of CBD isolate.
CBD isolate is most commonly used in clinical trials to prove that
results are linked to CBD rather than other compounds from either plant
that may be present. Isolates may also be favored by those who wish to
avoid THC entirely.
Tags: CBD, Hemp, Marijuana, stocks, tsx, tsx-v, weed Posted in PRIMO Nutraceuticals Inc. | Comments Off on PRIMO Nutraceuticals Inc. $PRMO.ca – What’s the difference between #CBD derived from #hemp and #cannabis? $CROP.ca $VP.ca NF.ca $MCOA
Posted by AGORACOM-JC
at 4:50 PM on Friday, November 22nd, 2019
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Over the past month, lobbyists have beat a path to Ontario’s legislature to discuss – among other things related to cannabis – taxation, labor policies, law enforcement and how adult-use marijuana is sold in the province
Punished by disappointing sales due to a lack of retail stores, the
cannabis industry has been mounting a fierce lobbying drive in Ontario
to reach the decisionmakers driving the province’s marijuana policies,
according to records from the Office of the Integrity Commissioner.
Over the past month, lobbyists have beat a path to Ontario’s
legislature to discuss – among other things related to cannabis –
taxation, labor policies, law enforcement and how adult-use marijuana is
sold in the province.
The records show that efforts have been made to reach Ontario’s power brokers by:
Aurora Cannabis
Aphria
Convenience Industry Council of Canada
Cronos Group
The Green Organic Dutchman
Insurance Bureau of Canada
LeafLink
Loblaw
Supreme Cannabis Co.
Truss
Meanwhile, a former member of the ruling Progressive Conservative
caucus is urging the party to adopt a clearer timeline for the planned
pivot to an open allocation of adult-use retail stores.
Independent MPP Randy Hillier said Ontario’s bungled cannabis
policies are costing the province, and its businesses, millions in lost
economic opportunities.
“Here we have a government that promotes itself as ‘open for
business,’ and what is the biggest impediment in the cannabis trade
right now? Government’s lack of action and preventing people (from)
opening retail establishments,†the independent MPP said in an
interview.
He called Ontario’s cannabis lottery a “cluster you-know-what.â€
The fledgling industry has already lost out on hundreds of millions
of dollars of revenue, according to Craig Wiggins, managing director of
market researcher TheCannalysts.
That has caused some producers to scale back production.
Hillier called on the government to empower the Alcohol and Gaming Commission of Ontario to license cannabis stores.
“We have 24 stores in operation a year out from legalization to serve
14 million people,†he said. “Newfoundland, with a population of
500,000 people, has as many stores as Ontario. Saskatchewan has twice as
many with a population of a million people.
“We’re not achieving what we set out to with the legalization of
cannabis, which is to get it out of the criminal marketplace. We’re
allowing the criminal marketplace to continue to thrive.â€
Ontario’s recent Economic Outlook restated the commitment to “an open
allocation of cannabis retail store licenses where the number of stores
is limited only by market demand,†however no timeline was offered.
Hillier’s advice to legal cannabis businesses is to speak up.
“If government policies are creating barriers for your businesses, then speak out.
“Bark as loud as possible, and possibly bite. That’s what often
motivates government, is fear of embarrassment and fear of having to
justify their actions.â€
Matt Lamers is Marijuana Business Daily’s international editor, based near Toronto, Ontario. He can be reached at [email protected].
Posted by AGORACOM-JC
at 8:47 AM on Friday, November 22nd, 2019
Bonfire Brands USA, a wholly owned subsidiary of NORTHBUD, has signed multiple definitive agreements related to its previously announced letters of intent with the Qlora Group and Monterey Holdings
Finalized the acquisition of an 11-acre property located at 20180 Spence Road Salinas, California
Property currently consists of 300,000 sq. ft. of licensable greenhouse space with 60,000 sq. ft. actively cultivating cannabis and a 2,000 sq. ft. building licensed for distribution
TORONTO, Nov. 22, 2019 — North Bud Farms Inc. (CSE: NBUD) (OTCQB: NOBDF) (“NORTHBUD” or the “Company”) is pleased to announce that Bonfire Brands USA (“Bonfireâ€), a wholly owned subsidiary of NORTHBUD, has signed multiple definitive agreements related to its previously announced letters of intent with the Qlora Group and Monterey Holdings (see September 12, 2019 press release).
Transaction Terms:
Bonfire Brands USA has finalized the
acquisition of an 11-acre property located at 20180 Spence Road Salinas,
California from Monterey Holdings Inc. The property currently consists
of 300,000 sq. ft. of licensable greenhouse space with 60,000 sq. ft.
actively cultivating cannabis and a 2,000 sq. ft. building licensed for
distribution. The purchase price of the property is USD$8,000,000 which
represents the fair market value of the real estate. The buyer and
seller have entered into a seller carry back financing for the full
purchase price.
Bonfire Brands USA has signed a
definitive agreement with the Qlora Group for the acquisition of
cultivation, processing and distribution licenses associated to the
Spence Road property. As part of this acquisition Bonfire Brands USA
also acquires all the Intellectual Property (IP) and assets related to
the brands California Bud Co and Live For The Day (LFTD). The two brands
combined for approximately USD$6,500,000 in unaudited sales over the
past 18 months. In consideration for this acquisition Bonfire has
assumed a USD$2,500,000 debt note from the Qlora Group. The debt will be
settled over a 24-month period through a combination of cash and stock
at the discretion of the note holder. Immediately upon signing of the
definitive agreement Bonfire will have acquired 80% ownership of the
licenses with the remaining 20% to be transferred after approval from
the California Cannabis Control and Licensing Bureau.
The buyer will be taking possession of all biological assets including:
6000 plants currently in the fifth week of flowering;
~ 5000 plants in various stages of vegetative growth;
~ 350 Lbs. of dried and harvested flower and trim; and
3000 filled vape cartridges of various strains.
“On the heels of the historic adoption of the MORE Act, the NORTHBUD
and Bonfire team is extremely proud to have finalized this agreement
and how the structure allows for the acquisition to be financed from
ongoing cash flow from the acquired business with minimal dilution while
allowing the company to acquire what we believe to be exceptionally
positioned infrastructure located in the heart of California’s Sun Belt
and home to the largest cannabis cultivators in the state,†said Ryan
Brown, CEO of NORTHBUD.
This infrastructure will serve as the primary operation for Bonfire
Brands USA within the state of California, which is considered to be the
largest cannabis market in North America valued at USD$3 billion
dollars per year according to Arcview Market Research and BDS Analytics
(August 2019).
“We are very pleased with the successful acquisition of the Salinas
facility,†said Justin Braune, President of Bonfire Brands USA. “We have
been working closely with the cultivation team at Qlora over the past
two months and will immediately take over operations to begin driving
revenue growth. We anticipate our first harvest within 45 days and have
been actively negotiating agreements with distribution and cultivation
partners whom wish to leverage our strategic infrastructure through
joint venture and subletting agreements. We anticipate closing these
transactions in the near future with the goal of having the California
operation generating positive cash flow in the near term.â€
The Transaction is a significant acquisition but will not result in a
“Fundamental Change†pursuant to the policies of the CSE. NORTHBUD will
be preparing the necessary corporate and securities filings in order to
secure the required approvals for the Transaction.
NORTHBUD has agreed to pay up to 3% in finder fees to arm’s length
parties in connection with the closing of the Transaction. The fee is
payable in common shares of NORTHBUD.
The closing of the Transaction is conditional on the receipt by the
parties of applicable corporate and regulatory approvals including that
of the CSE.
About North Bud Farms Inc. North Bud Farms Inc.,
through its wholly owned subsidiary GrowPros MMP Inc., is pursuing a
license under The Cannabis Act. The Company has built a state-of-the-art
purpose-built cannabis production facility located on 135 acres of
Agricultural Land in Low, Quebec, Canada. NORTHBUD through its wholly
owned U.S. subsidiary, Bonfire Brands USA has acquired cannabis
production facilities in California and Nevada. The Salinas, California
property is located on 11 acres which currently consists of a 300,000
sq. ft. of licensable greenhouse space with 60,000 sq. ft. actively
cultivating cannabis and a 2,000 sq. ft. building licensed for
distribution. The Reno, Nevada property is located on 3.2 acres of land
which was acquired through the acquisition of Nevada Botanical Science,
Inc. a world class cannabis production, research and development
facility with 5,000 sq. ft. of indoor cultivation which holds medical
and adult use licenses for cultivation, extraction and distribution.
Neither the Canadian Securities Exchange (the “CSEâ€) nor its
Regulation Services Provider (as that term is defined in the policies of
the CSE) accepts responsibility for the adequacy or accuracy of this
release.
Forward-looking statements Certain statements and
information included in this press release that, to the extent they are
not historical fact, constitute forward-looking information or
statements (collectively, “forward-looking statementsâ€) within the
meaning of applicable securities legislation. Forward-looking
statements, including those identified by the expressions “anticipateâ€,
“believeâ€, “planâ€, “estimateâ€, “expectâ€, “intendâ€, “mayâ€, “should†and
similar expressions to the extent they relate to the Company or its
management. This press release contains forward- looking statements
including those relating to projected revenue for 2020 from the Qlora
cannabis farm being acquired by Bonfire, the timing of the Company’s
first harvest from the farm, and the negotiation of cultivation and
distribution agreements. Forward-looking statements are based on the
reasonable assumptions, estimates, analysis and opinions of management
made in light of its experience and its perception of trends, current
conditions and expected developments, as well as other factors that
management believes to be relevant and reasonable in the circumstances
at the date that such statements are made, but which may prove to be
incorrect.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause the actual results,
performance or achievements of the Company to differ materially from any
future results, performance or achievements expressed or implied by the
forward-looking statements. Such risks and uncertainties include,
among others, the risk factors included in the Company’s final long form
prospectus dated August 21, 2018, which is available under the
Company’s SEDAR profile at www.sedar.com.
Accordingly, readers should not place undue reliance on any such
forward-looking statements. Further, any forward-looking statement
speaks only as of the date on which such statement is made. New factors
emerge from time to time, and it is not possible for the Company’s
management to predict all of such factors and to assess in advance the
impact of each such factor on the Company’s business or the extent to
which any factor, or combination of factors, may cause actual results to
differ materially from those contained in any forward-looking
statements. The Company does not undertake any obligation to update any
forward-looking statements to reflect information, events, results,
circumstances or otherwise after the date hereof or to reflect the
occurrence of unanticipated events, except as required by law including
securities laws. This news release does not constitute an offer to sell
or a solicitation of any offer to buy any securities of the Company.
FOR ADDITIONAL INFORMATION, PLEASE CONTACT: North Bud Farms Inc. Edward Miller VP, IR & Communications Office: (855) 628-3420 ext. 3 [email protected]
Tags: Cannabis, CBD, CSE, Hemp, Marijuana, stocks, tsx, tsx-v, weed Posted in North Bud Farms Inc | Comments Off on North Bud Farms $NBUD.ca Expands U.S. Presence with Acquisition of a Fully Licensed and Operational #Cannabis Farm in Salinas, California $CGC $ACB $APH $CRON.ca $HEXO.ca $TRST.ca $OGI.ca
Posted by AGORACOM-JC
at 5:20 PM on Thursday, November 21st, 2019
SPONSOR: NORTHBUD (NBUD:CSE)
Sustainable low cost, high quality cannabinoid production and
procurement focusing on both bio-pharmaceutical development and
Cannabinoid Infused Products. Learn More.
Cannabis Canada: Ontario sets plans to let private sector handle cannabis distribution
Ontario sets plans to let private sector handle cannabis distribution
Ontario is gradually reducing its exposure to the legal pot industry. An email obtained by BNN Bloomberg shows the province plans to allow the private sector to handle distributing cannabis from producers to retailers.
The email, which was sent to Canadian licensed producers late Tuesday,
shows that Ontario plans to soon adopt a new measure to allow for a
“third-party centralized distribution†system. The changes follow
feedback the Ontario Cannabis Store solicited from the industry last
month to determine whether it should get out of its wholesale cannabis
business. The email also stated that the OCS is seeking further
consultation with industry participants interested in services where
cannabis can be shipped directly from a cannabis producer to a retailer,
sidestepping a wholesale operator entirely.
Posted by AGORACOM
at 9:29 AM on Thursday, November 21st, 2019
A definitive distribution agreement to partner on the sale of Vertical’s wollastonite from its world-class St-Onge Deposit
Vertical will supply wollastonite to AREV Brands for distribution and/or resale
Vertical’s high quality wollastonite has been shown to be beneficial to cannabis plants – significant improvements in root mass, powdery mildew control and pest elimination.
At a microscopic level, wollastonite’s needle-like structure penetrates soft-bodied insect larvae and pupae, interrupting the life cycle without the use of pesticides
VERTICAL EXPLORATION INC. (TSXV:VERT) and AREV BRANDS INTERNATIONAL LTD. (CSE:AREV) are pleased to announce that, further to the press release of September 12th, 2019, the two companies have entered into a definitive distribution agreement to partner on the sale of Vertical’s wollastonite from its world-class St-Onge Deposit in order to supply the fast growing cannabis and hemp industries.
Vertical
and AREV Brands have agreed to enter into this distribution agreement,
whereby Vertical will supply wollastonite materials produced from its
St-Onge mineral property located in Quebec to AREV Brands for
distribution and/or resale to both small scale “craft” cannabis or hemp
growing operations and large scale cannabis or hemp growing operations
licensed by Health Canada.
Vertical’s
high quality wollastonite has been shown to be beneficial to cannabis
plants in a variety of ways. In February 2019, Vertical announced the
successful completion of Phase Three trials involving cannabis grown
with wollastonite (CaSiO3) as a soil additive at BC Bud Depot’s (BCBD)
ACMPR-licenced Research and Development facilities in Vancouver, BC. In
the Phase Three trials BCBD measured and recorded significant
improvements in root mass, powdery mildew control and pest elimination.
At a microscopic level, wollastonite’s needle-like structure penetrates
soft-bodied insect larvae and pupae, interrupting the life cycle without
the use of pesticides. Wollastonite’s unique properties also allow it
to break down into calcium, magnesium and silicon in a highly
bio-available form that balances soil PH throughout the growth cycle –
this allows the cannabis plants to uptake silicic acid and promotes
strong cell walls that better resist insect feeding and spore
penetration, supporting increased growth and elevated product yields.
(see February 5th, 2019 news release)
Peter
P. Swistak, President/CEO of Vertical Exploration Inc., commented: “We
are very pleased to have signed our first distribution and sales
agreement with AREV Brands, as we believe there is a large and growing
cannabis and hemp market opportunity for Vertical’s world-class St-Onge
wollastonite. I firmly believe that this distribution partnership will
be highly beneficial to both companies.”
This transaction is subject to the approval of the TSX Venture Exchange.
ABOUT AREV BRANDS INTERNATIONAL LTD.
AREV
Brands International Ltd. (“AREV”) produces and delivers functional
compounds and ingredients from its world-class extraction systems. AREV
is revolutionizing the current delivery method of terpenes, cannabinoids
and flavonoids. These premium ingredients and formulations are used in
products targeted for sale in the natural health, medical, functional
food, nutraceutical, sport nutrition and bioceutical markets. AREV
innovates through extraction to produce extracts from specific selected
plant and exude from trees that address 5 areas of health including
Anxiety, Pain Management, Insomnia, Central Nervous System Disorders
& Libido.
ABOUT VERTICAL EXPLORATION
Vertical
Exploration’s mission is to identify, acquire, and advance high
potential mining prospects located in North America for the benefit of
its stakeholders. The Company’s flagship St-Onge Wollastonite property
is located in the Lac-Saint-Jean area in the Province of Quebec.
