Posted by AGORACOM-JC
at 11:00 AM on Wednesday, May 8th, 2019
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8 incredible facts about the booming US marijuana industry
The US marijuana industry is worth billions of dollars, and is showing no signs of slowing down.
Ten US states have legalized recreational marijuana use, and 33 have legalized medicinal use.
The marijuana industry is booming in the United States.
Marijuana initiatives have swept through state legislatures in recent
years. Recreational marijuana use is legal in 10 US states, while
medicinal marijuana is legal in 33. Illinois became the most recent
state to weigh the topic when Gov. JB Pritzker introduced a bill to legalize the drug on Saturday.
Now, the industry is showing no signs of slowing down.
Read on for eight interesting facts about the US marijuana industry:
The marijuana industry could soon be worth more than the GDP of 9 US states
Associated Press
Marijuana Business Factbook
estimates the legal-marijuana industry’s economic impact in the US was
between $20 billion and $23 billion in 2017. It estimates the economic
impact could reach as high as $77 billion by 2022.
Those numbers are comparable to the GDPs of Idaho and West Virginia, which were both a tick over $77 billion in 2018, according to the Bureau of Economic Analysis. And it’s worth more than the GDP of nine states, including Delaware, Alaska, and both North and South Dakota.
Cannabis employs five times as many Americans as coal
Associated Press
New Frontier Data, a cannabis market-research and data-analysis firm,
estimates that the US cannabis industry employs at least 250,000
people. And those are just the jobs that are directly involved with
handling marijuana plants – others in the industry are harder to
quantify, a New Frontier economist told the Associated Press.
Compare that to the size of one of the staple blue-collar industries, coal mining, which employed 52,300 in 2018.
Another study
estimated the marijuana industry would grow to at least 330,000 jobs by
2022, a higher number than the 268,000 employees at US steel and iron
mills.
The median marijuana salary is 10% higher than the US median salary
AP Photo/Steven Senne
The median salary in the marijuana industry salary was $58,511 in
2018, while the median salary for US workers as a whole was $52,863, according to Glassdoor data. That’s a difference of 10.7%.
Investors poured $10 billion into the North American marijuana industry in 2018
Investors poured more than $10 billion into the North American marijuana industry in 2018, according to the Associated Press. That’s twice the total amount invested in the previous three years.
And experts project that number will shoot up to $16 billion this year.
Posted by AGORACOM-JC
at 8:37 AM on Wednesday, May 8th, 2019
Announced that its wholly owned subsidiary, hempSMART, Ltd., is taking steps to list on the Vienna Stock Exchange (H Smart SARL),
Intends to raise sufficient capital to expedite the rollout of its hempSMART™ product line in Europe.
Escondido, California–(May 8, 2019) – MARIJUANA COMPANY OF AMERICA INC. (OTCQB: MCOA) (“MCOA” or the “Company“), an innovative hemp and cannabis corporation, is pleased to announce that its wholly owned subsidiary, hempSMART, Ltd., is taking steps to list on the Vienna Stock Exchange (H Smart SARL), with the intention of raising sufficient capital to expedite the rollout of its hempSMART™ product line in Europe.
Marijuana Company of America plans to sell a minority interest of
hempSMART, Ltd., currently engaged in developing and marketing the
hempSMART brand in Europe, for up to $10 million. The Company expects
that all of the necessary steps to trade on the Vienna exchange will be
completed by the beginning of the third quarter of 2019.
Once listed, hempSMART, Ltd. will be one of the first U.S.-based
hemp-derived cannabidiol (CBD) companies to do an initial listing on a
European exchange, as most cannabis and hemp public companies opt to
list in Europe as a secondary listing. This is a result of the Company’s
commitment to prioritizing its marketing efforts in the burgeoning
European cannabis, hemp and CBD markets, with future plans to expand
further.
“We are very excited to do an IPO of hempSMART, Ltd. on such a
reputable European exchange,” said Don Steinberg, CEO of Marijuana
Company of America. “This is a huge leap forward to obtain the necessary
capital to bolster our European launch and become a top hemp brand in
Europe. Europe’s cannabis and hemp markets are undergoing a critical
phase in their growth and this is the optimum time to establish our
brand as a leader. To date, we have exceeded expectations at our London
event in March. In order to capitalize on this positive market momentum,
we have planned two additional events in England, with two more
following in Liverpool and Birmingham.”
hempSMART, Ltd. is expected to enter Portugal later this month, with
future plans to extend further in France, Germany and Austria.
hempSMART, Ltd. markets and sells the Company’s hemp and hemp-based
personal wellness products, including the U.S.-patented hempSMART
Brain™, an effective wellness product formulated with proprietary
composition of natural ingredients and CBD to enhance brain function.
Jesus Quintero, CFO of MCOA, stated, “This offering on the Vienna
exchange will help to strengthen the worldwide valuation for our
hempSMART brand. We are highly optimistic about the prospects of this
offering and the financial success of hempSMART.”
Ian Harvey, COO of hempSMART, Ltd., commented, “The U.S. patent
issuance is indicative of the advances the Company achieved, and is a
testament to the Company’s continued commitment to produce unique
products of the highest quality, which distinguishes hempSMART as a
leader of hemp-based CBD products.”
About Marijuana Company of America, Inc. MCOA is a
corporation that participates in: (1) product research and development
of legal hemp-based consumer products under the brand name “hempSMART™,”
which targets general health and well-being; (2) an affiliate marketing
program to promote and sell its legal hemp-based consumer products
containing CBD; (3) leasing of real property to separate business
entities engaged in the growth and sale of cannabis in those states and
jurisdictions where cannabis has been legalized and properly regulated
for medicinal and recreational use; and (4) the expansion of its
business into ancillary areas of the legalized cannabis and hemp
industry, as the legalized markets and opportunities in this segment
mature and develop.
About Our hempSMART Products Containing CBD The
United States Food and Drug Administration (FDA) has not recognized CBD
as a safe and effective drug for any indication. Our products containing
CBD derived from industrial hemp are not marketed or sold based upon
claims that their use is safe and effective treatment for any medical
condition as drugs or dietary supplements subject to the FDA’s
jurisdiction.
Forward-Looking Statements This news
release contains “forward-looking statements” that are not purely
historical and may include any statements regarding beliefs, plans,
expectations or intentions regarding the future. Such forward-looking
statements include, among other things, the development, costs and
results of new business opportunities and words such as “anticipate,”
“seek,” intend,” “believe,” “estimate,” “expect,” “project,” “plan” or
similar phrases may be deemed “forward-looking statements” within the
meaning of the Private Securities Litigation Reform Act of 1995. Actual
results could differ from those projected in any forward-looking
statements due to numerous factors. Such factors include, among others,
the inherent uncertainties associated with new projects, the future U.S.
and global economies, the impact of competition, and the Company’s
reliance on existing regulations regarding the use and development of
cannabis-based products. These forward-looking statements are made as of
the date of this news release, and we assume no obligation to update
the forward-looking statements, or to update the reasons why actual
results could differ from those projected in the forward-looking
statements. Although we believe that any beliefs, plans, expectations
and intentions contained in this press release are reasonable, there can
be no assurance that any such beliefs, plans, expectations or
intentions will prove to be accurate. Investors should consult all of
the information set forth herein and should also refer to the risk
factors disclosure outlined in our annual report on Form 10-12G, our
quarterly reports on Form 10-Q and other periodic reports filed from
time to time with the Securities and Exchange Commission. For more
information, please visit www.sec.gov.
Posted by AGORACOM-JC
at 8:14 AM on Wednesday, May 8th, 2019
Sims Resource has grown its subscriber base to 61,000 monthly registered users.
The increase of 11,000 users represents a 20% increase in subscriber base from the initial definitive agreement (see press release announced January 5, 2019). Â
TSR’s subscribers pay on average C$5 per month to access its VIP features growing the recurring revenue stream from paid subscriptions to over C$3.5 million on an annual run rate.
TORONTO, May 08, 2019 — Enthusiast Gaming Holdings Inc. (TSXV: EGLX) (OTCQB: EGHIF), (“Enthusiast†or the “Companyâ€) is excited to announce that its digital property,  The Sims Resource (“TSRâ€) has grown its subscriber base to 61,000 monthly registered users. The increase of 11,000 users represents a 20% increase in subscriber base from the initial definitive agreement (see press release announced January 5, 2019).  TSR’s subscribers pay on average C$5 per month to access its VIP features growing the recurring revenue stream from paid subscriptions to over C$3.5 million on an annual run rate.
When Enthusiast announced the acquisition of TSR, the largest female
gaming website in the world, the site had 50,000 monthly subscribers
representing 40% of the annual revenue. The increase further validates
the engagement of the TSR community and the demographic’s willingness to
pay for exclusive content and features.
Women drive 70% to 80% of all consumer purchasing(1), through a
combination of their buying power and influence. TSR’s significant
network of female gamers, which is ranked #7 on Quantcast’s Top 25
websites with the highest concentration of female audience in the United
States (behind Oprah.com and Bravotv.com), positions the network as a
leading destination for advertisers looking to target the female
demographic.
Menashe Kestenbaum, CEO of Enthusiast commented, “All
of the digital properties we have acquired have grown since inception,
which supports our growth strategy though accretive acquisitions.One
of the leading factors for our decision to acquire TSR was their
successful subscription model. The continued growth of their registered
user base, further validates the engagement of their audience and also,
the significant opportunity to growth recurring monthly revenue. We see
great potential for this model and are currently looking at
opportunities to adopt it across our entire network.â€
The TSR subscription model was one of three key revenue drivers for
Enthusiast. The current subscription model allows registered users to
have access to premium features and a simplified download experience.
The subscription model has the potential to add considerable revenue
across Enthusiast’s entire portfolio as it introduces it across its
network of owned sites. In addition to the subscription model,
Enthusiast sees an opportunity to drive revenue through direct sales. To
date, TSR’s advertising revenue has been largely based on organic,
programmatic advertising, and the addition of a direct sales strategy
would allow the optimization of advertising revenue to contribute to the
existing programmatic revenue.
TSR is the largest female video gaming content site in the world
generating in excess of 2.5 billion page views per year and Comscore’s
Gaming Information category currently ranks TSR in the top 5 independent
video game websites. With the rapidly growing female video game
segment, TSR provides Enthusiast immediate reach into this valuable
audience.
Founded in 2014, Enthusiast Gaming is the largest vertically
integrated video game company and has the fastest-growing online
community of video gamers. Through the Company’s unique acquisition
strategy, it has a platform of over 80 owned and affiliated websites and
currently reaches over 75 million monthly visitors with its unique and
curated content and over 50 million YouTube visitors. Enthusiast also
owns and operates Canada’s largest gaming expo, Enthusiast Gaming Live
Expo, EGLX, (eglx.ca) with approximately 55,000 people attending in 2018. For more information on the Company, visit www.enthusiastgaming.com.
CONTACT INFORMATION:
Investor Relations: Julia Becker Head of Investor Relations & Marketing [email protected] (604) 785.0850
This news release contains certain statements that may constitute
forward-looking information under applicable securities laws. All
statements, other than those of historical fact, which address
activities, events, outcomes, results, developments, performance or
achievements that Enthusiast anticipates or expects may or will occur in
the future (in whole or in part) should be considered forward-looking
information. Such information may involve, but is not limited to,
comments with respect to strategies, expectations, planned operations
and future actions of the Company. Often, but not always,
forward-looking information can be identified by the use of words such
as “plans”, “expects”, “is expected”, “budget”, “scheduled”,
“estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or
variations (including negative variations) of such words and phrases, or
statements formed in the future tense or indicating that certain
actions, events or results “may”, “could”, “would”, “might” or “will”
(or other variations of the forgoing) be taken, occur, be achieved, or
come to pass. Forward-looking information is based on currently
available competitive, financial and economic data and operating plans,
strategies or beliefs as of the date of this news release, but involve
known and unknown risks, uncertainties, assumptions and other factors
that may cause the actual results, performance or achievements of
Enthusiast to be materially different from any future results,
performance or achievements expressed or implied by the forward-looking
information. Such factors may be based on information currently
available to Enthusiast, including information obtained from third-party
industry analysts and other third-party sources, and are based on
management’s current expectations or beliefs regarding future growth,
results of operations, future capital (including the amount, nature and
sources of funding thereof) and expenditures. Any and all
forward-looking information contained in this press release is expressly
qualified by this cautionary statement. Trading in the securities of
the Company should be considered highly speculative.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this
release.
The securities of the Corporation have not been and will not be
registered under the United States Securities Act of 1933, as amended
and may not be offered or sold in the United States absent registration
or an applicable exemption from the registration requirement. This press
release shall not constitute an offer to sell or the solicitation of an
offer to buy nor shall there be any sale of the securities in any
jurisdiction in which such offer, solicitation or sale would be
unlawful.
Posted by AGORACOM-JC
at 9:30 PM on Tuesday, May 7th, 2019
SPONSOR: Enthusiast Gaming Holdings Inc.
(TSX-V: EGLX) Uniting gaming communities with 80 owned and affiliated
websites, currently reaching over 75 million monthly visitors. The
company exceeded 2018 target with $11.0 million in revenue. Learn More
Recent figures documented by Newzoo have suggested that revenues from esports will hit an astonishing $1.1 billion this year.
This is thanks to a phenomenal growth rate of 26.7% since 2018, and it’s clear that it is the involvement of big business that is helping esports become a world beater.
Everybody knows that esports is one of the fastest growing entertainment trends in the world. What began as a fairly nerdy activity in Korea at the turn of the century has grown to become a world-beater that is even starting to eclipse traditional sports. If there was any doubt about the success of esports, then you just have to take a look at the fact that competitive gaming is set to become a billion dollar industry in 2019.
Recent figures documented by Newzoo have suggested that revenues from
esports will hit an astonishing $1.1 billion this year. This is thanks
to a phenomenal growth rate of 26.7% since 2018, and it’s clear that it
is the involvement of big business that is helping esports become a
world beater.
Recently we have seen many multinational brands paying huge amounts
of money to advertise their products at esports tournaments and even
sponsor competitive gaming teams outright. From the likes of McDonalds
sponsoring the massive ESL esports tournaments in Germany, to Red Bull
partnering up with some of the most successful competitive gaming teams,
it seems that just about everybody is jumping on the esports bandwagon.
What’s truly remarkable is the fact that even traditional
broadcasters seem to be taking esports seriously. When the likes of ESPN
start covering gaming tournaments, it shows that something significant
is happening with many people’s perceptions of video games.
Just a few years ago, the idea of millions of people tuning in to
watch other people play games would have seemed laughable. But the fact
that over 200 million people watched last year’s League of Legends
Worlds final shows that esports is a big spectator event, plus there are
now even esports betting resources like www.esports.net that allow
people a safe and easy way to bet on the outcome of the action.
Even many of the world’s most famous sporting organisations are
seeking to get involved with esports as a way of extending their brand
appeal. From iconic soccer clubs like Paris Saint Germain and Manchester
City, to legendary American football sides such as New England
Patriots, it seems that there’s something of a goldrush to invest in the
best new esports teams and players. What makes things all the more
interesting is the way that new titles keep being added to the esports
realm. Alongside classic esports like League of Legends, Counter Strike
Global Offensive and Dota 2, recently we have seem games like Overwatch
and Playerunknown’s Battlegrounds becoming real sensations in
competitive gaming. And with new titles like Fortnite and Apex Legends
joining the fray, it seems as though there is no slowing down in the
sheer range and scope of gaming options.
For a long time it looked like the fractious and chaotic world of
esports would be impenetrable for mainstream viewing audiences. But with
Blizzard Entertainment helping to set up the Overwatch League with a
fixed set of teams and even a guaranteed player salary, it has
standardised the gaming action to make it much easier for fans to
follow.
Obviously, there is still plenty of antisocial behaviour from some
young gamers to deal with, but we are also seeing growing moves from
esports governing bodies to effectively reprimand some of the more toxic
attitudes that have made gaming off-putting for outsiders. As a result,
we are starting to see some esports being included as legitimate medal
sports in traditional sporting events such as the SEA Games later this
year. All of which shows that esports is set for a massive year in 2019.
Posted by AGORACOM-JC
at 9:00 PM on Tuesday, May 7th, 2019
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U.S. digital ad revenues top $100 billion for first time, reaching $107.5 billion in 2018
On mobile devices, video saw the sharpest growth in the format category, up 65% in revenue compared to the year prior.
Advertisers continue to harvest the benefits of programmatic buying, with the IAB reporting that programmatic ad revenue accounted for 80% of all digital display revenues.
Ad tech vendors employ programmatic with the expectation of more intelligent targetting greater cost benefits.
U.S. digital ad revenues topped $100 billion for the first time last
year, reaching at $107.5 billion in 2018, a growth rate of 22% from
$88.3 billion in 2017, according to the IAB’s annual Internet
Advertising Revenue Report released Tuesday.
Trends driving growth
Digital ad giants. Large-scale ad companies are
steering a large bulk of the growth, given their access to more
sophisticated data and purchasing lifecycles, bolstered by Artificial
intelligence (AI) and robust e-commerce technology. Trends show that
smaller businesses are riding the coattails of larger ad enterprises,
forming strategic partnerships that provide access to insights,
influence and increased inventory access.
Storytelling. With consumers increasingly turning to
social media to inform their purchase behavior, advertisers are
capitalizing on the trend in an attempt to turn engagements into
conversations. Beyond traditional social formats, brands are leveraging
vertical stories to pivot their value narrative with content that
addresses key touchpoints in the consumer’s journey.
Social commerce. Emerging tools and insights across
social platforms continue to be a driving force for direct-to-consumer
brands. Social DSPs are touting new features designed to ease the
customer buying process while collecting deeper targetting insights for
advertisers. As a result, trends indicate that advertisers are pouring
more investments into social inventory with greater confidence.
Programmatic. Advertisers continue to harvest the
benefits of programmatic buying, with the IAB reporting that
programmatic ad revenue accounted for 80% of all digital display
revenues. Ad tech vendors employ programmatic with the expectation of
more intelligent targetting greater cost benefits. Walled gardens like
Amazon, in which programmatic transactions are managed by the ecosystem
owner, are reported to drive greater adoption of programmatic –
especially for smaller businesses.
Data regulations. Privacy directives like GDPR
and CCPA have tipped the balance of power in favor of enterprise-level
advertisers, who are able to make larger investments to aid compliance.
For smaller businesses, this means more focus spent implementing and
adhering to safeguards. Even so, the data shows that the privacy
regulations are giving way to more innovative targeting strategies aimed
at growing ad ROI.
Mobile and video ad revenues continue growing
It’s no surprise that mobile ad revenue is outpacing other devices at
warp speed. The report indicated mobile advertising revenues grew 39.7,
increasing its share of total revenues from 56.7% in 2017 to 65.1% last
year. The industry’s compounded growth rate of the last 10 years is
largely owed to mobile, which continues to cash in on single-click
purchasing behavior, creative formats and social ubiquity.
The omnipresence of mobile advertising has prompted advertisers to
embrace video content, which continues to show the largest revenue
growth of all digital ad formats in 2018. According to the report,
digital video revenue in 2018 rose 37% from 2017, totaling $16.3
billion. On mobile devices alone, video saw the sharpest growth in the
format category, up 65% in revenue compared to the year prior.
Why we should care
As evidenced by its sharp revenue growth, digital advertising is
increasingly consuming a majority share of the ad mix, with mobile and
video powering it. Brands are using technology to their advantage,
embracing programmatic tactics to connect with audiences wherever their
eyes are focused.
“Advertisers are placing a premium on mobile and video, and in turn
the two are fueling the ongoing rise of digital marketing,†Sue Hogan,
SVP of research and measurement at IAB, said in a statement. Impending
5G access to faster internet speeds will work to stimulate even more
buying interactions and greater innovation in digital formats, she
added.
Posted by AGORACOM-JC
at 8:30 AM on Tuesday, May 7th, 2019
Recent Company highlights include:
Global expansion with the debut of its hempSMART™ products in the UK
Established joint venture in California to operate a California cannabis delivery service named Viva Buds™
Details of the joint venture partnership with Global Hemp Group, completed a successful first harvest late in 2018 and is now in position to monetize its hemp biomass
Strategic partnership with MassRoots (OTCQB: MSRT) to promote its hempSMART CBD product line
Escondido, California–(May 7, 2019) – MARIJUANA COMPANY OF AMERICA INC. (OTCQB: MCOA) (“MCOA” or the “Company“), an innovative hemp and cannabis corporation, today announces that on May 1, 2019, the Company mailed a letter to its shareholders to update them on recent developments and new business opportunities. In the letter, the Company provided a discussion on its two current acquisitions underway a review of its recent financial and operating performance and details of its new Viva Buds™ brand that will serve as a manufacturing, distribution and retail delivery service for cannabis products in the state of California.
Recent Company highlights include:
Marijuana Company of America’s global expansion with the debut of its hempSMART™ products in the UK
The Company’s established joint venture in California to operate a California cannabis delivery service named Viva Buds™
Details of the joint venture partnership with Global Hemp Group,
which completed a successful first harvest late in 2018 and is now in
position to monetize its hemp biomass
A strategic partnership with MassRoots (OTCQB: MSRT) to promote its hempSMART CBD product line
“Our shareholder letter addresses our hemp research and growth
business expansion, and the two joint ventures we started with Global
Hemp Group Inc. last year, which includes a working hemp farm in Oregon
that just completed its successful first harvest in late 2018,” said Mr.
Don Steinberg, Chairman and CEO of Marijuana Company of America. “We
are confident to now be strategically positioned to drive more revenue
and expand exponentially into new markets with our products and business
growth methods.”
About Marijuana Company of America Inc. MCOA is a corporation that participates in: (1) product research and development of legal hemp-based consumer products under the brand name hempSMART™ which targets general health and well-being; (2) an affiliate marketing program to promote and sell its legal hemp-based consumer products containing CBD; (3) leasing of real property to separate business entities engaged in the growth and sale of cannabis in those states and jurisdictions where cannabis has been legalized and properly regulated for medicinal and recreational use; and, (4) the expansion of its business into ancillary areas of the legalized cannabis and hemp industry, as the legalized markets and opportunities in this segment mature and develop.
About Our hempSMART Products Containing CBD The
United States Food and Drug Administration (FDA) has not recognized CBD
as a safe and effective drug for any indication. Our products containing
CBD derived from industrial hemp are not marketed or sold based upon
claims that their use is safe and effective treatment for any medical
condition as drugs or dietary supplements subject to the FDA’s
jurisdiction.
Forward Looking Statements
This news release contains “forward-looking statements” that are
not purely historical and may include any statements regarding beliefs,
plans, expectations or intentions regarding the future. Such
forward-looking statements include, among other things, the development,
costs and results of new business opportunities and words such as
“anticipate”, “seek”, intend”, “believe”, “estimate”, “expect”,
“project”, “plan”, or similar phrases may be deemed “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995. Actual results could differ from those projected in
any forward-looking statements due to numerous factors. Such factors
include, among others, the inherent uncertainties associated with new
projects, the future U.S. and global economies, the impact of
competition, and the Company’s reliance on existing regulations
regarding the use and development of cannabis-based products. These
forward-looking statements are made as of the date of this news release,
and we assume no obligation to update the forward-looking statements,
or to update the reasons why actual results could differ from those
projected in the forward-looking statements. Although we believe that
any beliefs, plans, expectations and intentions contained in this press
release are reasonable, there can be no assurance that any such beliefs,
plans, expectations or intentions will prove to be accurate. Investors
should consult all of the information set forth herein and should also
refer to the risk factors disclosure outlined in our annual report on
Form 10-12G, our quarterly reports on Form 10-Q and other periodic
reports filed from time to time with the Securities and Exchange
Commission. For more information, please visit www.sec.gov.
Posted by AGORACOM-JC
at 12:58 PM on Monday, May 6th, 2019
“The strong support of our financing round demonstrates that shareholders and investors have faith in our ability to execute on initiatives, as we establish vertical integration connecting patient efficacy…,” stated Steven McAuley, Empower Chairman and CEO.
VANCOUVER, May 3, 2019 – EMPOWER CLINICS INC. (CSE: CBDT) (Frankfurt 8EC) (“Empower” or the “Company“), a growth oriented and diversified medical cannabis company, is pleased to announce the closing of the second tranche of a non-brokered private placement of unsecured convertible debentures (the “Debentures“), pursuant to which it has issued Debentures in the aggregate principal amount of $207,270, and the second tranche of a non-brokered private placement of an aggregate of 5,762,500 units of the Company (each, a Unit“) at a price of $0.10 per Unit for gross proceeds of $576,250, for combined total proceeds of $783,520 (together, the “Offerings“).
The proceeds of the Offerings are expected to be used by the Company
for the completion of strategic acquisitions and for general working
capital and corporate purposes.
“The strong support of our financing round demonstrates that
shareholders and investors have faith in our ability to execute on
initiatives, as we establish vertical integration connecting patient
efficacy in our clinics with a diverse CBD product strategy and the
backing of the science of extraction, all driven by data and analysis,”
stated Steven McAuley, Empower Chairman and CEO.
RECENT HIGHLIGHTS
Intention to Launch CBD Extraction Facility The Company intends to open a fully functioning hemp-based CBD extraction facility in greater Portland, Oregon
in Q2 2019, with the first extraction system expected to have the
capacity to produce 6,000 kilograms of extracted product per year. The
5,000 sq. ft. facility in Sandy, OR has now been secured
through a 5 year lease agreement and preparations are underway to begin
licensing and permit requirements to commence operations in 2019.
Acquisition of Sun Valley Clinics Empower has completed the acquisition of the business of Sun Valley Certification Clinics Holdings LLC (“Sun Valley“), including its interests in certain affiliates, by way of a share acquisition. Sun Valley operates a network of professional medical cannabis and pain management practices, with five clinics in Arizona, one clinic in Las Vegas, a tele-medicine platform serving California, and a fully developed franchise business model for the domestic cannabis industry. The current Sun Valley clinic locations are as follows:
4218 W Dunlap Ave, Phoenix, AZ 12801 W Bell Rd #145, Surprise, AZ 4015 E Bell Rd #130, Phoenix, AZ 2011 E University Dr, Mesa, AZ 7074 E Speedway Blvd, Tucson, AZ 2550 S Rainbow Blvd, Las Vegas, NV
Focus on CBD Product Sales Empower has commenced
selling its proprietary line of CBD-based products called SOLLIEVO,
through its network of company-owned clinics in the United States.
Empower’s patient base and customers are expected to benefit from
access to high margin derivative products, including CBD lotion,
tinctures, spectrum oils, capsules, lozenges, patches, e-drinks, topical
lotions, gel caps, hemp extract drops and pet elixir hemp extract
drops. Patients and customers will be able to access Empower’s home
delivery and e-commerce platform.
CBD Market Demand The passing in the United States of the US$867 billion Agriculture Improvement Act (the “Farm Bill“)
has legalized hemp and hemp-based products. This has created an
opportunity for the production and sale of a variety of CBD-based
products that can provide genuine help and effective relief to millions
of people suffering from a variety of qualifying conditions. Recent
reports and studies indicate the approval of the Farm Bill could create a
US$20 billion industry by 2022.
Increased Patient Access With a rapidly expanding
company-owned clinic network and significant expansion opportunity
assuming the successful acquisition of the Sun Valley
franchise model, Empower anticipates it will grow its total patient list
substantially in the years ahead. This is expected to provide greater
opportunity for treatment analysis using artificial intelligence (AI).
Market Leading Technology Empower utilizes a
market-leading patient electronic management and POS system that is
HIPAA compliant and provides insight to patient care. The Company
supports remote patients using its tele-medicine portal, enabling
patients who are unable to come to a location to benefit from a doctor
consultation.
The Debentures bear interest at the rate of 6.0% per annum and mature on May 3, 2020, being 12 months from the closing of the Offerings (the “Closing“). The Debentures are convertible, at the option of the Company or the holder, into units of the Company (each, a “Debenture Unit“) at a conversion price of $0.11 per Debenture Unit, with each Debenture Unit consisting of one common share in the capital of the Company (each, a “Share“) and one share purchase warrant (each, a “Warrant“), with each Warrant exercisable into one Share (each, a “Warrant Share“) at a price of $0.16
per Warrant Share for a period of two years following the Closing,
provided that the Company will have the right to accelerate the expiry
date of the Warrants in the event that the closing sale price of the
Shares on the Canadian Securities Exchange (the “CSE“) (or such other stock exchange as the Shares are then principally traded) is greater than $0.40 per Share for a period of 10 consecutive trading days at any time after the issuance of the Warrants.
Each Unit is comprised of one Share and one Warrant, with each
Warrant exercisable into one Warrant Share at an exercise price of $0.16
per Warrant Share for a period of two years following the Closing,
provided that the Company will have the right to accelerate the expiry
date of the Warrants in the event that the closing sale price of the
Shares on the CSE (or such other stock exchange as the Shares are then
principally traded) is greater than $0.40 per Share for a period of 10 consecutive trading days at any time after the issuance of the Warrants.
The Debentures and the Units, and the underlying Shares, Warrants and Warrant Shares (collectively, the “Securities“),
are subject to restrictions on resale under applicable Canadian
securities laws for a period of four months and one day from the closing
of the Offerings. None of the Securities have been or will be
registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States
absent registration or an applicable exemption from the registration
requirements. This news release shall not constitute an offer to sell or
the solicitation of an offer to buy, nor shall there be any sale of the
securities, in any jurisdiction in which such offer, solicitation or
sale would require registration or otherwise be unlawful.
The Company also announces that Emily Davis has resigned
as a Director and member of the effective immediately. The Company
thanks Ms. Davis for her valuable contributions.
In addition, the Company announces that Dustin Klein has been appointed as a Director in conjunction with the previously announced closing of the Sun Valley acquisition.
ABOUT EMPOWER
Empower is a leading multi-state operator of a network of
physician-staffed clinics focused on helping patients improve and
protect their health through innovative physician recommended treatment
options. It is expected that Empower’s proprietary product line
“Sollievo” will offer patients a variety of delivery methods of doctor
recommended cannabidiol (CBD) based products in its clinics, online and
at major retailers. With over 165,000 patients, an expanding clinic
footprint, a focus on new technologies, including tele-medicine, and an
expanded product development strategy, Empower is undertaking new growth
initiatives to be positioned as a vertically integrated, diverse,
market-leading service provider for complex patient requirements in 2019
and beyond.
ON BEHALF OF THE BOARD OF DIRECTORS:
Steven McAuley Chief Executive Officer
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 proposed acquisition of Sun Valley;
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 terms of the proposed
acquisitions and partnerships; the expected location of the proposed CBD
extraction facility; the effectiveness of the extraction technology;
the size of the leased facility; the expected benefits for Empower’s
patient base and customers; access to Empower’s home delivery and
e-commerce platform; 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 proposed acquisitions and partnerships, including
the Sun Valley and Aibeida transactions, may not be
completed on the terms expected or at all; that the Company may not open
a hemp-based CBD extraction facility; that the hemp-based CBD
extraction facility may not be fully operation by Q2 2019 if at all;
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.
Investors: Steve Low, Boom Capital Markets, [email protected], 647-620-5101; Investors: Steven McAuley, CEO, [email protected], 604-789-2146; For French inquiries: Remy Scalabrini, Maricom Inc., E: [email protected], T: (888) 585-6274Copyright CNW Group 2019
Tags: CSE, Hemp, Marijuana, stocks, tsx, tsx-v, weed Posted in All Recent Posts, Empower Clinics Inc. | Comments Off on Empower $CBDT.ca Announces Second Tranche Closing of Debenture and Unit Offerings and Announces Board of Director Changes $WEED.ca $CGC $ACB $APH $CRON.ca $HEXO.ca $TRST.ca $OGI.ca
Posted by AGORACOM-JC
at 11:06 AM on Monday, May 6th, 2019
With a high grade graphite resource already in place, growing and situated in North America, Lomiko Metals (LMR:TSXV) believes it is on the verge of becoming a supplier to multiple gigafactories being built in North America to support the upcoming electric vehicle boom.
Grab a coffee, sit back and watch CEO Paul Gill beautifully explain where and why his high grade graphite will meet the demands of EV battery makers.
Online Education Provider Coursera Is Now Worth More Than $1 Billion
At Coursera, he’s put the company on a growth trajectory that includes expansion around the world.
After the U.S., Coursera’s greatest growth has come from India, China, Mexico and Brazil, in that order.
Coursera, one of the companies featured on Forbes’ 2018 list of Next Billion-Dollar Startups, is worth well over $1 billion, says its CEO, Jeff Maggioncalda. The seven-year-old online education provider, based in Mountain View, California, announced this morning that it had raised an additional $103 million in funding. “This gives us the resources to more aggressively push on our mission of greater access to quality education and greater opportunity for people who are being left behind in this economy,†he says.
Since our feature story on Coursera
last October, the number of registered learners on the site has climbed
from 36 million to 40 million. When we published, the company had been
valued at $800 million. Its revenue, which Forbes pegged at $140 million
in 2018, is fueled in part by partnerships with 1,800 enterprise
customers. They include Adobe, which paid Coursera an estimated $150,000
last year to provide machine-learning courses to Adobe employees.
Three months ago, Coursera signed a deal with the Abu Dhabi School of Government,
an entity set up to train 60,000 government employees in digital skills
like data science and artificial intelligence. Maggioncalda says that
partnership is Coursera’s most extensive to date.
Coursera also offers 14 online masters degrees,
in computer science, business and public health, from schools like the
University of Michigan and the University of Illinois at
Urbana-Champaign. And it just launched its first online bachelor of
science degree with the highly regarded University of London.
Coursera’s news comes at a time when critics like Kevin Carey,
director of education policy at the liberal-leaning New America
foundation, have raised concerns about the high cost of online degrees.
In a widely-read April article published in the Huffington Post,
headlined “The Creeping Capitalist Takeover of Higher Education,†he
wrote that online education should slash the price of a good degree. But
instead, many schools use online program managers, known as OPMs, to
produce and market their online courses. OPMs charge as much as 60% of
tuition for the service. Students who earn online degrees offered
through OPMs pay the same high tuition as they would if they studied on
campus. “What this means is that an innovation that should have been
used to address inequality is serving to fuel it,†he wrote. (Read
Forbes’ story on 2U, a leading OPM here.)
By contrast, Coursera does no course production and takes only 40% of
tuition. Its marketing costs are low, says Maggioncalda, because it
already reaches a huge number of learners. One example of a low-cost
Coursera degree: its online iMBA from the University of Illinois’ highly-ranked Gies College of Business, which costs $22,000. Out-of-state students pay $75,000 in tuition for an on-campus degree.
Though its partnerships with companies and its degree programs are
growing, he says the $49 fee (or subscription fee of $49-$99 per month)
learners pay to earn completion certificates for its wide selection of
courses that are open to the public still account for the largest share
of Coursera’s revenue.
Stanford computers science professors Daphne Koller and Andrew Ng
founded Coursera in 2012 as a platform to offer massive open online
courses, known as MOOCs. Their vision was to give students around the
world free access to college courses taught by professors from top
universities. At first, Coursera charged nothing to students, who earned
no academic credit. Princeton, Penn and Michigan signed on. Tremendous
hype followed, with thought leaders like the New York Times’
Thomas Friedman writing about Coursera and its fellow MOOC providers
Udacity and edEx, “Nothing has more potential to unlock a billion more
brains to solve the world’s problems.â€
The narrative soon switched to “the death of the MOOC,†after data
from two University of Pennsylvania studies showed that 80% of people
who registered for free MOOCs already had degrees and only half of them
bothered to look at a single lecture. A minuscule 4% completed their
courses.
In 2014 Coursera hired former Yale president Rick Levin and started
charging $30-$70 for course completion certificates. In 2017
Maggioncalda took over the top job. He had a track record running a
successful company started by Stanford professors. In 2010 he took
retirement planning website Financial Engines, founded by Nobel prize
winner William F. Sharpe and former SEC commissioner Joseph Grundfest,
public. By the time he left, its market cap was close to $2 billion and
his net worth was north of $50 million.
At Coursera, he’s put the company on a growth trajectory that
includes expansion around the world. After the U.S., Coursera’s greatest
growth has come from India, China, Mexico and Brazil, in that order.
The latest investment in Coursera was led by SEEK Group,
an Australian company with stakes in online employment and education
firms. SEEK was joined by previous Coursera investors Future Fund and
NEA. It brings Coursera’s total funding to $313 million.
Coursera is the second company on Forbes’ 2018 Next Billion-Dollar
Startup list to cross into unicorn territory this week. Read Amy
Feldman’s story about trucking industry technology provider KeepTruckin here.
