How Does The FDA’s E-Cig Crackdown Impact The Cannabis Industry?

How Does The FDA’s E-Cig Crackdown Impact The Cannabis Industry?

eCann Media is proud to showcase our portfolio of investments and subsidiaries. We have completed numerous investments across multiple verticals and sectors in the cannabis industry. Requesting an invitation will enable the eCann team to consider your eligibility for investment as well help us to identify the opportunities that best fit your needs and investment objectives.

Published at Wed, 19 Feb 2020 19:25:00 +0000

Hightimes Holding Corp. Receives Ticker and Clears Final Regulatory Hurdles to Begin Trading

Hightimes Holding Corp. Receives Ticker and Clears Final Regulatory Hurdles to Begin Trading

High Times, the most well-known brand in Cannabis, announced today that it received notification from FINRA that it was granted a trading symbol, clearing a final hurdle to begin trading. Company trading will commence with a planned listing date to be determined in the near future. The approval provides Hightimes Holding Corp. the ability to list on the public markets which will culminate the brand’s highly successful Regulation A + campaign.

“This is a big step for the company and the High Times brand. The listing of the company’s stock will give us a trading currency that will assist us in furthering our acquisitional goals. There is no better time to roll out this next evolution as we enter the cannabis retail space,” Adam Levin, Executive Chairman of Hightimes Holding Corp., noted. “With the lessons we’ve learned from other operator’s mistakes, great management, and the current state of the industry, now is the time for High Times to thrive!“

“With over 23,000 investors, this has been one of the most widely subscribed to offerings in history – across any industry,” Levin continued. “We’ve proven the strength of our brand, and of the community we represent. We’re excited for this next step.”

High Times is committed to continuing to connect cannabis to consumers with trusted products, across price points, and has introduced several plans this year to support that. High Times aims to cement its place as the largest name in cannabis and become the ultimate destination for all consumers from the canna-curious to marijuana lifers – both in-store and in person. The continued expansion in licensing and e-commerce, and now into retail stores, allow the globally recognized brand the unique opportunity to reach consumers wherever they may live. With the first two retail stores launching in Los Angeles and Las Vegas, High Times’s digital presence provides worldwide reach.

“This feels just like my early days in ecommerce – except in this case we already have audience, and we’re dealing with the most well-known brand in Cannabis,” Stormy Simon, the brand’s Chief Executive Officer, stated. “My history in ecommerce should help the company as we develop both our retail business as well as our direct to consumer delivery options in markets across the globe.”

Now marks the last opportunity to participate in the High Times Regulation A+ offering ahead of the brand’s listing on the public markets later this year. Interested investors are encouraged to visit hightimesinvestor.com to view the High Times offering circular. You can also email investor@hightimes.com or schedule a call with the brand’s investment team at https://calendly.com/hightimesinvestor/30min. View our latest Regulation A+ offering circular and our SEC filings at https://www.sec.gov/Archives/edgar/data/1714420/000149315219008495/partii.htm and https://www.sec.gov/cgi-bin/browse-edgar?company=hightimes&owner=exclude&action=getcompany.

About High Times

For more than 45 years, High Times has been the world’s most well-known cannabis brand – championing the lifestyle and educating the masses on the benefits of this natural flower. From humble beginnings as a counterculture lifestyle publication, High Times has evolved into hosting industry-leading events like the Cannabis Cup and the High Times Business Summit, while providing digital TV and social networks, globally distributed merchandise, international licensing deals and providing content for its millions of fans and supporters across the globe. In the world of Cannabis, High Times is the arbiter of quality. For more information on High Times visit http://www.hightimes.com.

Forward Looking Statements

This press release may contain information about Hightimes Holding Corp.’s view of its future expectations, plans and prospects that constitute forward-looking statements. Actual results may differ materially from historical results or those indicated by these forward-looking statements as a result of a variety of factors including, but not limited to, risks and uncertainties associated with its ability to maintain and grow its business, variability of operating results, its development and introduction of new products and services, marketing and other business development initiatives, among other things. For further information about Hightimes, Hightimes encourages you to review its filings with the Securities and Exchange Commission, including its Form 1-A Offering Circular dated July 27, 2018, its Offering Circular supplement dated May 31, 2019, and all subsequent filings, including its Current Reports on Form 1-U, dated February 20, 2020.

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Source: GlobeNewswire (February 20, 2020 – 9:00 AM EST)

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Published at Thu, 20 Feb 2020 14:29:10 +0000

 Reliq Health Technologies Inc. (RQHTF) Named One of 2020 TSX Venture 50 Companies

 Reliq Health Technologies Inc. (RQHTF) Named One of 2020 TSX Venture 50 Companies



 Reliq Health Technologies Inc. (RQHTF) Named One of 2020 TSX Venture 50 Companies | Marijuana Stocks | Cannabis Investments and News. Roots of a Budding Industry.™






































Published at Thu, 20 Feb 2020 15:02:29 +0000

Pure Global Cannabis Inc. (PURE) (PURE.V) Announces New Chief Financial Officer

Pure Global Cannabis Inc. (PURE) (PURE.V) Announces New Chief Financial Officer



Pure Global Cannabis Inc. (PURE) (PURE.V) Announces New Chief Financial Officer | Marijuana Stocks | Cannabis Investments and News. Roots of a Budding Industry.™





































Published at Wed, 19 Feb 2020 14:04:29 +0000

Pure Global Cannabis Inc. (PURE) (PURE.V) Announces New Chief Financial Officer

Pure Global Cannabis Inc. (PURE) (PURE.V) Announces New Chief Financial Officer



Pure Global Cannabis Inc. (PURE) (PURE.V) Announces New Chief Financial Officer | Marijuana Stocks | Cannabis Investments and News. Roots of a Budding Industry.™





































Published at Wed, 19 Feb 2020 14:04:29 +0000

Has The CBD Market Hit A Major Point Of Saturation?

Has The CBD Market Hit A Major Point Of Saturation?

One of the most exciting verticals that is commonly associated with the cannabis sector is related to the opportunity that is surrounding cannabidiol (CBD) and other high-value cannabinoids. During the last year, we noticed an increase in the number of mainstream retailers carrying CBD products, and this is a trend that our readers need to be aware of.

From shopping centers to gas stations, from vitamin stores to supermarkets, we are impressed with the increase in the types of stores that are selling CBD infused products and are favorable on the distribution that is associated with it. Over the next year, we expect the CBD industry to report continued growth and this is an opportunity that we want to cover in-depth.

Although we are favorable on the increased interest in CBD products, the market has become saturated and there are currently more than 50 well-known brands in the US and the level of competition will only get more intense. From an operator standpoint, the increased competition has put significant pressure on the price of CBD, and this is a trend that is negatively impacting a majority of operators.

We are not surprised by the increased pressure on CBD companies and expect to see continued price compression of the cannabinoid. One way that companies are trying to fight against price compression is by focusing on additional high-value cannabinoids like cannabigerol (CBG) and cannabidivarin (CBDV). When compared to CBD, these cannabinoids have not been as impacted by price compression and have been a catalyst for the companies that are levered to them.

2020 is expected to be a period of sustained growth for the cannabis industry and we expect to see increased demand for cannabis infused products. Today, we want to highlight 3 businesses that are focused on the production of products that do not contain any tetrahydrocannabinol (THC), which has psychoactive properties and is the best-known cannabinoid. We believe that these businesses provide important insight when it comes to the breadth of the cannabis industry and will continue to monitor this vertical of it.

Charlotte’s Web: A CBD Leader to be Watching

Charlotte’s Web (CWEB.TO) is one of the best-known CBD businesses in the world and it provides a great barometer as it relates to the strength of the vertical. During the last few months, the business has been under pressure and sales have not been as strong as the previous quarters. This is a trend that we have seen across several leading CBD companies and is one that our readers need to be aware of.

If companies that are as strong as Charlotte’s Web are being impacted by price compression, then it is a trend that is most likely impacting businesses across the vertical. Because of this trend, we prefer companies that are focused on several high-value cannabinoids. Through this structure, the business will be better protected against price compression and we are focused on finding businesses with this type of structure.

During the last quarter, we have been closely following Charlotte’s Web and the recent trend has been to the downside. This decline comes after the company reported less significant quarterly revenues than expected and the market has not responded well to this. We are not surprised by the market’s response especially due to Charlotte’s Web’s valuation. It was the first CBD business to have a valuation that is above the $1 billion level and this represented a substantial accomplishment.

Although Charlotte’s Web has significant growth prospects, the market has high expectations for cannabis businesses with a greater than $1 billion valuation. Going forward, we believe that the business is well positioned for growth and are favorable on the amount of distribution that is already in place. From CVS to Walmart, you can find Charlotte’s Web products at retailers across the country and we will monitor how the management is able to diversify the business through the launch of new products.

Hemptown: A Pre-IPO Growth Story

When it comes to being protected against future price compression, we believe that Hemptown represents one of the most attractive opportunities. The company was an early mover on the CBG market and has been executing on a multi-faceted growth strategy. Over the next year, we expect Hemptown to record strong growth as it works to increase the number of acres it cultivates on and further differentiates its product offering from a type of cannabinoid standpoint.

Although Hemptown is focused on the CBD market, it has been working to increase the number of acres that are growing crops that are high in CBG. Currently, producers are generating almost 10x the amount of revenue per kilogram of CBG when compared to CBD and we find this to be significant. The difference in price has made the CBG more attractive to cultivators and we expect to see a larger focus on this cannabinoid in 2020. We expect the larger focus to cause price compression on CBG and will monitor how Hemptown positions itself for this.

One of the reasons we are excited about Hemptown is related to its strategy for growth. Through contract farming, the company has been able to significantly increase the number of acres it is cultivating on. Hemptown has been able to accomplish this feat for a fraction of the cost when compared to cultivators and we find this to be of importance.

In late 2019, we met with the Hemptown team at the MJ Biz Conference in Las Vegas and left the meeting feeling even more impressed with the operation. In the near future, the company plans to complete a go-public transaction and commence trading on the Canadian Stock Exchange (CSE). We believe that Hemptown represents a differentiated opportunity and an attractive play on the cannabinoid market. This is a listing that we are excited about and one that we will be closely following.

CV Sciences: Watching from the Sidelines

CV Sciences (CVSI) is the perfect example of a CBD company that has been impacted by price compression and increased competition. Last year, the company reported quarterly earnings that came in much lower than the prior quarter and this is a trend that is expected to continue in 2020 and beyond.

Last year, the market became overly obsessed with CV Sciences and the shares were trading above the $6.50 level at one point. During the last six-months, the CBD company has come well off its highs and the shares are trading below the $1 level. Although the valuation is much more attractive at current levels, we find the risk-reward profile to be too risky and will continue to monitor the opportunity from the sidelines.

Going forward, we believe that CV Sciences will continue to be impacted by the increased interest in the CBD sector. Although the company has substantial distribution at CVS Pharmacies across the US, the sales numbers have not been that impressive and this is something that our readers need to be aware of.

CV Sciences used to operate under the name CannaVest and it was one of the first publicly traded cannabis companies. Although the company is led by a management team that is well known in the cannabis industry, the recent trend has been to the downside and we are cautious at current levels. Going forward, we would like to see CV Sciences focus on other high-value cannabinoids and that would be a catalyst for growth.

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Authored By

Anthony Varrell

Anthony Varrell is Managing Director of StoneBridge Partners LLC. SBP continues to drive market awareness for leading firms in the cannabis industry throughout the U.S. and abroad.

Published at Wed, 19 Feb 2020 12:39:37 +0000

Canopy Rivers Reports Third Quarter Fiscal Year 2020 Financial Results and Provides Corporate Update

Canopy Rivers Reports Third Quarter Fiscal Year 2020 Financial Results and Provides Corporate Update

Canopy Rivers Inc. (the “Company” or “Canopy Rivers“) (TSX: RIV, OTC: CNPOF), a venture capital firm specializing in cannabis, today released its financial results for the three and nine months ended December 31, 2019 (“Q3 2020“). The Company’s unaudited condensed interim consolidated financial statements for Q3 2020, and its management’s discussion and analysis for Q3 2020 (the “Q3 2020 MD&A“), are available under the Company’s profile on the System for Electronic Document Analysis and Retrieval (“SEDAR“) at www.sedar.com and on the Company’s website at www.canopyrivers.com/investors/financials-and-public-filings. All financial information in this press release is reported in Canadian dollars, unless otherwise indicated.

Canopy Rivers (CNW Group/Canopy Rivers Inc.)

“In the third quarter, we continued pursuing our goal to become the leading venture capital firm building the cannabis industry of tomorrow,” said Narbé Alexandrian, President & CEO, Canopy Rivers. “We focused primarily on follow-on investments in our existing portfolio of innovative companies, further developing the Canopy Rivers ecosystem through collaborative partnerships, and evaluating where we think the next wave of disruption will come from as the global cannabis market continues to evolve and mature. Our aim is to build on this momentum as we look to have a successful 2020.”

Q3 2020 Financial Results1

Select Summary of Quarterly Results

Three months
ended 

Three months
ended 

31-Dec-19

31-Dec-18

Operating income

$

1,813

$

8,378

Operating expenses

3,860

6,632

Net operating income (loss)

(2,047)

1,746

Net income (loss)

(2,679)

1,423

Other comprehensive income (loss) (net of tax)

(37,244)

(80,948)

Total comprehensive income (loss)

(39,923)

(79,525)

Basic earnings (loss) per share (“EPS”)

$

(0.01)

$

0.01

Diluted EPS

$

(0.01)

$

0.01

Cash flows used in operating activities

(3,523)

(1,628)

Cash flows used in investing activities

(30,435)

(57,325)

Cash flows provided by financing activities

857

37

Nine months
ended 

Nine months
ended 

31-Dec-19

31-Dec-18

Operating income

$

5,428

$

32,395

Operating expenses

15,819

22,938

Net operating income (loss)

(10,391)

9,457

Net income (loss)

(10,051)

5,744

Other comprehensive income (loss) (net of tax)

(71,280)

(56,689)

Total comprehensive income (loss)

(81,331)

(50,945)

Basic EPS

$

(0.05)

$

0.04

Diluted EPS

$

(0.05)

$

0.04

Cash flows used in operating activities

(6,980)

(3,333)

Cash flows used in investing activities

(48,537)

(96,567)

Cash flows provided by financing activities

1,012

100,530

_________________________

1 The financial highlights in this summary are presented in CA$ thousands.

“It was a challenging end to 2019 for the valuations of publicly-traded cannabis companies, which naturally impacted our results for the quarter,” said Eddie Lucarelli, CFO, Canopy Rivers. “However, we continue to believe that these headwinds for the cannabis sector are temporary, and that the strength of our balance sheet positions us well to weather the storm. A strong pipeline of global investment opportunities, positive trends in supply chain and retail developments in Canada, and impending milestones at our portfolio companies truly excite us for what’s to come in 2020.”

Three months
ended 

Three months
ended 

31-Dec-19

31-Dec-18

Royalty, interest, and lease income

$

5,021

$

1,284

Share of loss from equity method investees

(1,307)

(1,271)

Net change in fair value of financial assets at FVTPL(2)

(1,901)

8,365

Operating income

$

1,813

$

8,378

Nine months
ended 

Nine months
ended 

31-Dec-19

31-Dec-18

Royalty, interest, and lease income

$

9,333

$

2,309

Share of loss from equity method investees

(2,957)

(2,619)

Net change in fair value of financial assets at FVTPL(2)

(948)

32,705

Operating income

$

5,428

$

32,395

(2) Net change in fair value of off-market commitment is included in the net change in fair value of financial assets at FVTPL
for the nine months ended December 31, 2018

During Q3 2020, Canopy Rivers generated operating income of $1.8 million, primarily driven by royalty, interest, and lease income of $5.0 million from: royalty and debenture agreements with Agripharm Corp., 10831425 Canada Ltd. d/b/a/ Greenhouse Juice Company, James E. Wagner Cultivation Corporation (“JWC“), Radicle Medical Marijuana Inc. (“Radicle“), and The Tweed Tree Lot Inc. (“Tweed Tree Lot“); a loan agreement with TerrAscend Canada Inc. (“TerrAscend Canada“); a shareholder loan agreement with PharmHouse, Inc. (“PharmHouse“); and a lease agreement with Tweed Tree Lot. This income was partially offset by a $1.9 million net decrease in the fair value of certain financial assets that are reported at fair value through profit or loss (“FVTPL“). Operating income was further offset by a $1.3 million share of loss from the Company’s equity method investees. This share of loss was recorded one quarter in arrears, which includes the Company’s common equity positions in Canapar Corp. (“Canapar“), 10663522 Canada Inc. d/b/a/ Herbert, High Beauty, Inc. (“High Beauty“), LeafLink Services International ULC, PharmHouse and Radicle. Management expects these equity method investees to continue to generate net losses during the remainder of the Company’s fiscal year as they continue to ramp up operationally.

Three months
ended 

Three months
ended 

31-Dec-19

31-Dec-18

Consulting and professional fees

$

929

$

788

General and administrative expenses

1,755

651

Share-based compensation

1,133

5,193

Depreciation and amortization expense

43

Operating expenses

$

3,860

$

6,632

Nine months
ended 

Nine months
ended 

31-Dec-19

31-Dec-18

Consulting and professional fees

$

2,604

$

1,787

General and administrative expenses

5,300

1,232

Share-based compensation

7,787

19,919

Depreciation and amortization expense

128

Operating expenses

$

15,819

$

22,938

Operating expenses for the quarter were $3.9 million, of which $1.1 million (or approximately 29% of the total) related to share-based compensation, a non-cash expense. Other operating expenses, which include consulting and professional fees and other general and administrative expenses, were $2.7 million, representing an increase from the comparative quarter last year due to the build-out of the Company’s employee base, legal and advisory fees related to the general growth of the business, enhanced public company compliance and other regulatory costs, and the launch of a formal branding and marketing campaign.

Three months
ended 

Three months
ended 

31-Dec-19

31-Dec-18

JWC

$

(3,118)

$

(4,254)

TerrAscend

(21,000)

(69,168)

Vert Mirabel

(15,642)

(4,971)

Eureka

(2,698)

YSS

(1,252)

(12,229)

Headset

(82)

8

Zeakal

(255)

Gross change in fair value of financial assets at FVTOCI

$

(41,349)

$

(93,312)

OCI income tax recovery

4,154

12,364

Net change in fair value of financial assets at FVTOCI(3)

$

(37,195)

$

(80,948)

Nine months
ended 

Nine months
ended 

31-Dec-19

31-Dec-18

JWC

$

(10,089)

$

(3,953)

TerrAscend

(51,000)

(52,240)

Vert Mirabel

(14,498)

(4,784)

Eureka

(1,872)

1,814

YSS

(2,449)

(6,192)

Headset

(118)

8

Zeakal

(501)

Gross change in fair value of financial assets at FVTOCI

(80,527)

(65,347)

OCI income tax recovery

9,350

8,658

Net change in fair value of financial assets at FVTOCI(3)

$

(71,177)

$

(56,689)

(3)  In addition to the fair value change noted above, net change in fair value of financial assets at FVTOCI also includes FX
gains/losses related to equity method investees denominated in USD currency 

Other comprehensive income, which captures the net changes in fair value of financial assets that are reported at fair value through other comprehensive income (“FVTOCI“), was a loss of $37.2 million, net of tax. The fair values of Canopy Rivers’ investments in Eureka 93 Inc., JWC, YSS Corp. (“YSS“), and TerrAscend Corp. (“TerrAscend“) were negatively impacted by downward trends in public market valuations for cannabis companies during the period, while the fair value of the Company’s investment in Les Serres Vert Cannabis Inc. (“Vert Mirabel“) was negatively impacted by downward trends in wholesale cannabis prices.

As at

As at

Period ended

31-Dec-19

31-Mar-19

Cash

$

49,678

$

104,183

Loan Receivable

41,470

40,000

Equity method investees

64,699

64,891

Financial assets at FVTPL

95,481

54,705

Financial assets at FVTOCI

71,192

137,298

Other assets

14,715

18,208

Total assets

$

337,235

$

419,285

Total liabilities

2,157

11,099

Total shareholders’ equity

335,078

408,186

Total liabilities and shareholders’ equity

$

337,235

$

419,285

Outlook

The Company previously provided calendar year (“CY“) 2020 attributable earnings before interest, tax, depreciation and amortization (“EBITDA“) guidance relating to PharmHouse and Vert Mirabel in the range of $85.0 million to $100.0 million, representing the Company’s estimated proportionate EBITDA based on its ownership percentages in each of these entities, as well as interest income on its shareholder loan to PharmHouse and dividend yield on its preferred share investment in Vert Mirabel. Since the time that this guidance was provided, multiple factors have emerged that may impede the Company’s ability to achieve this target, including unanticipated delays in licensing, reformed views on the operational ramp-up period required for large-scale cannabis greenhouses and a general decline in wholesale cannabis prices.

After consideration of these factors, and due to the uncertainty inherent in forecasting operating results given the current status of the Canadian cannabis industry, the Company has made the decision to withdraw its estimated CY2020 attributable EBITDA guidance.

In the near term, the Company expects that its net income (or loss) and comprehensive income (or loss) will continue to be largely driven by net changes in the fair value of financial assets at FVTPL or financial assets at FVTOCI. In turn, the Company expects that these net changes will continue to be largely dependent on the regulatory, business, and capital markets environment in the cannabis industry, which environments will in turn continue to inform the Company’s investment strategy. Given the inherent volatility of valuations of investments in the global cannabis sector, the Company anticipates continued volatility in its financial results. Furthermore, while the Company anticipates that in the long term, its share of income (or loss) from equity method investees will have a more significant impact on its financial results, it does not anticipate this to happen over the next few fiscal quarters.

Q3 2020 Corporate and Portfolio Updates

The following represents a brief summary of the milestones achieved by Canopy Rivers and/or its portfolio companies during Q3 2020:

Canopy Rivers

  • Canopy Rivers completed a US$10.0 million loan (the “Loan“) to TerrAscend Canada, a wholly-owned subsidiary of TerrAscend. The terms of the Loan were amended subsequent to the end of the quarter, as described below.
  • Canopy Rivers partnered with Kindred Partners Inc. (“Kindred“), a wholly-owned subsidiary of Breakthru Beverage Group, to provide the Company’s current and future portfolio companies with access to Kindred’s brokerage, sales and marketing, and brand-building services. Both TerrAscend Canada and JWC have announced brokerage partnerships with Kindred pursuant to which Kindred will serve as the exclusive broker for the companies’ adult-use cannabis products in Canada.
  • Canopy Rivers added Thirty Five Ventures, the business owned by NBA star Kevin Durant and sports business executive Rich Kleiman, as a Strategic Advisor.
  • Canopy Rivers invested an additional $1.5 million in PharmHouse in Q3 2020.

TerrAscend Canada

  • TerrAscend Canada received approval from Health Canada for an expansion at its Mississauga, Ontario facility, including a commercial kitchen, formulation rooms, testing lab, space for breeding and research and development, and increased primary and secondary packaging capacity. TerrAscend also received an amendment to its licence from Health Canada allowing it to process and sell cannabis edibles, extracts, and topicals.

JWC

  • JWC received Health Canada licence amendments allowing for cannabis production in four new flowering rooms and the processing and sale of cannabis edibles, extracts, and topicals at its second facility. JWC also expanded its compassionate care program, launched four new strains, and announced its intention to open a farmgate store.

YSS

  • YSS entered into a definitive agreement to acquire a licensed cannabis retail operator in Swift Current, Saskatchewan, marking the company’s first expansion outside of Alberta. On December 6, 2019, YSS opened its retail location in Okotoks, Alberta, operating under the Sweet Tree brand.

Radicle

  • Radicle signed an agreement with Spectrum Therapeutics, Canopy Growth Corporation’s medical cannabis distribution platform. Radicle also received approval for oil sales from Health Canada. The additional licence allows for the development and sale of new cannabis products, including cannabis oil and concentrates.

Tweed Tree Lot

  • Canopy Rivers advanced $13.5 million to Tweed Tree Lot pursuant to the terms of a repayable debenture. This amount was immediately set-off against the purchase price of a royalty interest pursuant to the terms of a royalty agreement between Canopy Rivers and Tweed Tree Lot, which initiated a long-term cash flow stream that is anticipated to result in a minimum annual payment of approximately $2.9 million over a 25-year term.

Headset

  • Headset, Inc. (“Headset“) launched Retail Market Benchmark for Headset Retailer, its retail data intelligence tool. Retail Market Benchmark enables cannabis retailers to keep track of their sales metrics and enable Vendor Managed Inventory with vendors, and retailers can use the tool to compare their metrics to the overall marketplace. Headset also launched the Demand Planning add-on to help retailers understand the “when” of the retail cannabis industry.

High Beauty

  • High Beauty announced that the company’s 2019 sales growth was driven by its growing list of retailers in the U.S., Canada, and Europe. In the U.S., High Beauty was the first cannabis brand in Macy’s, and also sells in Sephora, Urban Outfitters, and Anthropologie, among others. In Canada, High Beauty has signed contracts with Indigo, Hudson’s Bay, and Shoppers Drug Mart, while its European distributors include Douglas and Amazon.
  • Canopy Rivers invested an additional $1.0 million in High Beauty in Q3 2020.

Subsequent Corporate and Portfolio Updates

Subsequent to the end of Q3 2020, Canopy Rivers and its portfolio companies reported several achievements:

Canopy Rivers

  • Canopy Rivers, TerrAscend Canada and TerrAscend amended the terms of the Loan and Canopy Rivers and TerrAscend Canada entered into a new $13.2 million loan agreement. TerrAscend also issued Canopy Rivers additional common share purchase warrants of TerrAscend.
  • Canopy Rivers subscribed for 2,380,952 units of JWC’s non-brokered private placement for total consideration of approximately $0.5 million.

Canapar

  • Canapar successfully installed its extraction machinery and started the commissioning of its full site. Canapar also received the 100 National Ambassadors Award, an award presented by Italy’s Senate of the Republic to entities that are enhancing their community’s socio-economic development.

PharmHouse

  • PharmHouse completed the construction and commissioning of its greenhouse. Its licence amendment application is in active review with Health Canada. PharmHouse plans to ramp up its entire 1.3 million square foot greenhouse in the coming months, subject to receipt of regulatory approval.

Vert Mirabel

  • Vert Mirabel’s greenhouse is fully utilized and the company has begun weekly harvesting of its cannabis for distribution in Québec and across the country.

BioLumic

  • BioLumic Ltd. (“BioLumic“) received approval from the New Zealand Ministry of Health to apply its proprietary ultraviolet light technology to medical cannabis. To bring this research program to life, BioLumic is partnering with JWC as well as Auckland-based medical cannabis company Helius Therapeutics. With the support of these partnerships, BioLumic plans to begin conducting medical cannabis commercial trials in New Zealand and Canada by July 2020.

High Beauty

  • High Beauty’s founder, Melissa Jochim, was awarded the Rising Star Award in the Beauty Entrepreneur category by Fashion Group International. Ms. Jochim was recognized for her leadership and use of cannabis sativa seed oil in High Beauty’s products. High Beauty also officially launched its retail presence in Canada on January 30, 2020.

YSS

  • YSS opened two flagship stores, one of each under the Sweet Tree and YSS brands, in Calgary, Alberta. The company also announced the opening of its 17th store, YSS Grand Prairie, on February 8, 2020. YSS also applied for its Retail Operator Licence with the Alcohol and Gaming Commission of Ontario as it advances expansion plans for Ontario.

TerrAscend

  • TerrAscend announced that its majority owned subsidiary TerrAscend NJ, LLC was issued a permit to cultivate medical cannabis by the New Jersey Department of Health. Later in January, TerrAscend Utah, LLC, a majority-owned subsidiary of TerrAscend, was awarded approval for a Medical Cannabis Processor Licence by the Utah Department of Agriculture and Food. Finally, TerrAscend announced that Jason Ackerman, the company’s Executive Chairman, has been named interim CEO, replacing Michael Nashat, who will continue to serve as a member of TerrAscend’s board of directors and act as a strategic advisor to the company. Mr. Ackerman is the founder and former CEO of online grocer FreshDirect. Mr. Ackerman is a senior advisor for the Boston Consulting Group and serves on the advisory board of The Naked Market and Hart Dairy.

Radicle

  • Canopy Rivers advanced $1.0 million to Radicle pursuant to a convertible debenture agreement and received common share purchase warrants of Radicle.

For more information regarding the Company and its portfolio companies, please refer to the Q3 2020 MD&A and the Company’s annual information form dated July 15, 2019 (“AIF“), filed with the Canadian securities regulators and available on Canopy Rivers’ profile on SEDAR at www.sedar.com.

About Canopy Rivers Inc.

Canopy Rivers is a venture capital firm specializing in cannabis. Its unique investment and operating platform is structured to pursue investment opportunities in the emerging global cannabis sector. Canopy Rivers identifies strategic counterparties seeking financial and/or operating support. Canopy Rivers has developed an investment ecosystem of complementary cannabis operating companies that represent various segments of the value chain across the emerging cannabis sector. As the portfolio continues to develop, constituents will be provided with opportunities to work with Canopy Growth Corporation (TSX: WEED, NYSE: CGC) and collaborate among themselves, which Canopy Rivers believes will maximize value for its shareholders and foster an environment of innovation, synergy and value creation for the entire ecosystem.

Forward-Looking Statements

This news release contains statements which constitute “forward-looking information” within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and operating performance. Forward-looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions and includes information regarding: the Company’s goals, plans and future activities; expectations regarding industry trends, investment opportunities and portfolio company milestones; expectations regarding the Company’s and the equity method investees’ future financial results; management’s belief in the strength of the Company’s balance sheet; the intention of JWC to open a farmgate store; PharmHouse’s plans to ramp up its entire 1.3 million square foot greenhouse in the coming months; the anticipated annual minimum cash flow stream to the Company from Tweed Tree Lot; BioLumic’s plans to begin conducting medical cannabis commercial trials and the locations and timing thereof; YSS’ expansion plans for Ontario; and expectations for other economic, business, and/or competitive factors.

Investors are cautioned that forward-looking information is not based on historical fact but instead reflects management’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: regulatory and licensing risks; competition; changes in cannabis industry growth and trends; changes in the business activities and plans of the Company and its investees and the timing associated therewith; the Company’s and the equity method investees’ actual financial results and the Company’s ability to create long-term value for shareholders; the ability of Canopy Rivers’ investees to collaborate; changes in general economic, business and political conditions, including changes in the financial markets; potential conflicts of interest; the regulatory landscape and enforcement related to cannabis, including political risks and risks relating to regulatory change; changes in the Company’s relationship with Canopy Growth Corporation and its portfolio companies; changes in applicable laws; compliance with extensive government regulation, including the Company’s interpretation of such regulation; changes in the global sentiment towards, and public opinion of, the cannabis industry; divestiture risks; and the risk factors set out in the Company’s AIF, filed with the Canadian securities regulators and available on the Company’s profile on SEDAR at www.sedar.com.

Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors that could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.

Cision

View original content to download multimedia:http://www.prnewswire.com/news-releases/canopy-rivers-reports-third-quarter-fiscal-year-2020-financial-results-and-provides-corporate-update-301005132.html

SOURCE Canopy Rivers Inc.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/February2020/14/c5506.html

Media: Rob Small, Senior Manager, Public Relations & Communications, rob@canopyrivers.com; Investor Relations: Karoline Hunter, Senior Director, Investor Relations & Communications, karoline@canopyrivers.comCopyright CNW Group 2020

Published at Fri, 14 Feb 2020 12:06:45 +0000

Insider Tips for Crafting a Cannabis Business Plan That Attracts Investors

Insider Tips for Crafting a Cannabis Business Plan That Attracts Investors

eCann Media is proud to showcase our portfolio of investments and subsidiaries. We have completed numerous investments across multiple verticals and sectors in the cannabis industry. Requesting an invitation will enable the eCann team to consider your eligibility for investment as well help us to identify the opportunities that best fit your needs and investment objectives.

Published at Thu, 06 Feb 2020 17:00:00 +0000

Top Mexican Senator Says Marijuana Legalization Bill Will Be Approved This Month

Top Mexican Senator Says Marijuana Legalization Bill Will Be Approved This Month

Sen. Julio Menchaca of the ruling MORENA party, who serves as president of the Justice Committee, said this week that legislation to legalize cannabis has “already circulated to the members” of key panels following “many exercises of open parliament.”

The Supreme Court ruled in 2018 that Mexico’s ban on the personal use and possession of marijuana is unconstitutional and it initially set a deadline of October 2019 to amend the policy. But while lawmakers came close to voting on a bill late last year that was approved by a series of committees, they requested a deadline extension at the last minute, and the court approved it.

Congress now has until the end of April to legalize cannabis, but Menchaca said “we hope to take it out in the Senate this month.”

“Prohibition has generated a lot of violence in the last 100 years,” he said, including fostering “the creation of an organized crime.”

Read More

Published at Thu, 13 Feb 2020 15:41:48 +0000




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