TORONTO, July 14, 2020 (GLOBE NEWSWIRE) -PRESS RELEASE-WeedMD Inc. a federally-licensed producer and distributor of cannabis, announced today that it is one of the licensed producers to have its products and strains included in the University Health Networks’ first-of-its-kind Medical Cannabis Real-World Evidence study. UHN is launching Canada-wide clinical trials studying cannabis use on chronic pain, issues with sleep, anxiety and depression. Participating patients can select medical cannabis products via the Medical Cannabis by Shoppers portal, and registered under the TruTrace Technologies’ medical cannabis verification program. Read UHN’s announcement here.
WeedMD is the only LP with all of its cannabis strains registered under TruTrace’s proprietary StrainSecure platform. The program focuses on testing and verification to confirm the origin, cannabinoid authenticity and quality assurance of cannabis products. A medical cannabis supplier to Shoppers since February 2019, WeedMD was the first LP to partner with TruTrace and utilize the StrainSecure platform to register its genetics in late 2018 with 40 proprietary strains initiated, including all products currently sold in Canada.
“Recognizing the importance of strain validation as cannabis products advance through Canada’s medical and pharmaceutical channels is paramount for building trust and accountability in our industry and we congratulate UHN, Shoppers and TruTrace on this breakthrough initiative,” said Angelo Tsebelis, CEO of WeedMD. “As the only producer with all its products registered under StrainSecure, we are proud to be included. Patients and their medical practitioners expect traceability, origin assurance and consistency in their medicine, particularly when used as a natural alternate for treating traumatic indications such as pain management – this study will present much needed evidence and we’re looking forward to the results.”
The study is led by Dr. Hance Clarke, Director of Pain Services at Toronto General Hospital, a recognized leader in educating Canadians about chronic pain and the risk factors of opioids.
“Shoppers Drug Mart is trusted by patients and healthcare providers to provide medical products that have been tested and validated, regardless of whether that medication came from a lab or a greenhouse,” said Ken Weisbrod, pharmacist and vice president of business development/cannabis strategy, Shoppers Drug Mart. “Many partners came together to launch this initiative and we are proud to work with industry leaders to further our ability to provide Canadians with safe, consistent, rigorously tested cannabis-based medication.”
Aleafia Health Inc. (TSX: AH) (OTC: ALEAF) (“Aleafia Health” or the “Company”), a global cannabis health and wellness company, is pleased to provide a corporate update on strategic growth initiatives.
“Commencing the production of our first Cannabis 2.0 product formats represents a major milestone for Aleafia Health, as we scale our business,” said Aleafia Health CEO Geoffrey Benic. “Likewise, a successful outdoor planting and the ramp-up of our Niagara Facility provides us with a diversified production ecosystem that allows us to expand our distribution in Canada, through new provinces and globally.”
Expanding Product Portfolio with Cannabis 2.0: The Company is nearing the launch of new Cannabis 2.0 products to broaden its product portfolio in both the medical and adult-use markets. Following quality assurance testing of formulations and packaging design, the first production run of Kin Slips, the award-winning, cannabis infused sublingual strips, is expected to commence this month. The category market leader in California, Kin Slips provides health and wellness conscious consumers with a consistent, smoke-free cannabis experience, with formulas targeting specific need states, and an expected onset of 10-15 minutes. The Company also expects to commence the sale of universal 510 vape cartridges in the next two to three months, followed by confectionery edibles in the form of soft chews & lozenges, and other new formats.
Growth in Registered Patients: At June 30, 2020, active, registered patients with the Company’s wholly owned subsidiary, Emblem Cannabis Corporation (“Emblem”), increased to 13,285, from 10,983 patients at March 31, 2020. During Covid-19, the Company has continued to improve and scale its contactless, patient ecosystem. Patients are able to see their physician virtually, order products and have them delivered to their home in the same day, utilizing the direct-to-door AssureHome Delivery (where locally available) offered exclusively to Emblem patients.
Completion of Outdoor Planting: Planting at the Port Perry outdoor cultivation site is completed, utilizing the entire crop of starter plants originally propagated at the Niagara Facility. The Company expects to benefit from a significantly larger cultivation footprint along with improved infrastructure relative to the 2019 season. The site now has 66 fully planted acres, relative to 13 acres planted in 2019. Drying and irrigation infrastructure, a critical component of outdoor cultivation, has also significantly scaled up. Construction of an additional 30,000 sq. ft. of indoor drying and storage buildings and site-wide underground irrigation has been completed. In 2019, the Company produced 12,747 kgs of outdoor dried flower at an all-in cash cost to harvest of $0.10 per gram.
Niagara Greenhouse Scaling Up: Upon licensing in March, the Niagara Facility was primarily utilized for the propagation of starter plants destined for the Port Perry outdoor cultivation site. Since the completion of the outdoor propagation crop, the Niagara Facility is now being used for normal course cannabis production, with the first of what will be perpetual, daily harvests expected in approximately eight weeks. The Niagara Facility provides the Company with a stable, consistent inventory of high-quality dried flower products.
For Investor & Media Relations
Nicholas Bergamini VP Investor Relations 1-833-879-2533 IR@AleafiaHealth.com
Aleafia Health is a vertically integrated and federally licensed Canadian cannabis company offering cannabis health and wellness services and products in Canada and in international markets. The Company operates medical clinics, education centres and production facilities for the production and sale of cannabis.
Aleafia Health owns three significant licensed cannabis production facilities, including the first large-scale, legal outdoor cultivation facility in Canadian history. The Company produces a diverse portfolio of commercially proven, high-margin derivative products including oils, capsules and sprays. Aleafia Health operates the largest national network of medical cannabis clinics and education centres staffed by MDs, nurse practitioners and educators and operates internationally in three continents.
Innovation, the heart of Aleafia Health’s competitive advantage, has led to the Company maintaining a medical cannabis dataset with over 10 million data points to inform proprietary illness-specific product development and its highly differentiated education platform FoliEdge Academy. The Company is committed to creating sustainable shareholder value; the TSX Venture Exchange named Aleafia the 2019 top performing company prior to its graduation to the TSX.
Forward Looking Information
This news release contains forward-looking information within the meaning of applicable Canadian and United States securities laws and are expressly qualified by this cautionary statement. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes” or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements in this news release include, but are not limited to, statements with respect to injection of value this settlement brings to the Company’s business. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company or its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained in this news release. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information, including risks contained in the Company’s annual information form dated March 18, 2020 which is available on the Company’s SEDAR profile at www.sedar.com. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed time frames or at all. The forward-looking information included in this news release is made as of the date of this news release and the Company does not undertake any obligation to publicly update such forward-looking information to reflect new information, subsequent events or otherwise unless required by applicable securities legislation.
Source: GlobeNewswire (July 10, 2020 – 8:00 AM EDT)
Three of Canopy Rivers Inc.’s (“Canopy Rivers“) (TSX: RIV) (OTC: CNPOF) portfolio companies have made recent announcements as they aim to introduce new or expanded choices for cannabis consumers and medical patients in Canada and the U.S.
“We continue to be impressed with the ability of our portfolio companies to respond to shifting consumer demands in the cannabis space while executing on their long-term strategies,” said Narbé Alexandrian, President and CEO, Canopy Rivers. “We still see greenfield in the Canadian brand market, and we are excited to see both Agripharm and Dynaleo taking steps to introduce Canadians to brands that have proven track records in U.S. markets.”
More details on these developments are included below:
Dynaleo Inc. (“Dynaleo“), an Edmonton-based manufacturer of cannabis-infused gummies, signed its first letter of intent (“LOI“) with Pantry, a California-based edibles brand that says it has bridged the worlds of culinary arts, cannabis, and wellness. The agreement follows Dynaleo’s receipt of its processing licence from Health Canada and marks Pantry’s first international expansion beyond the U.S. where it distributes cannabis-infused food brands for the recreational market. Dynaleo hopes that the LOI will be a first step in the company’s goal to close the gap between supply and consumer demand for gummies in Canada.
Agripharm Corp. (“Agripharm“) received a licence amendment from Health Canada to allow for the sale of dried cannabis, extracts, edibles, and topicals. The amendment enables Agripharm to exercise its exclusive rights to introduce brands from SLANG Worldwide Inc. (“SLANG“) and Green House Seed Co. to the Canadian market. Agripharm plans to initially launch three products from SLANG’s portfolio, including the Firefly Mini vapourizer, O.penVAPE, and Bakked Dabaratus, a one-click dabbing solution that delivers a dose of extract.
TerrAscend Corp. (“TerrAscend“) opened its third retail dispensary location in Pennsylvania. Jason Ackerman, TerrAscend’s CEO, noted that this third Apothecarium location signals the company’s commitment to local patients as the state’s medical program continues to grow. The newly renovated, 5,000 square foot medical dispensary is designed to enhance patient experiences and features private consultation rooms, highly trained staff, a wide variety of products, and options for online ordering.
About Canopy Rivers Canopy Rivers is a venture capital firm specializing in cannabis with a portfolio of 18 companies across various segments of the cannabis value chain. We believe that bringing together people, capital, and ideas raises the potential of the entire cannabis industry. By leveraging our industry insights, in-house expertise, and thesis-driven approach to investing, we aim to provide shareholders with exposure to specialized and disruptive cannabis companies. Our mission is to invest in innovators across the cannabis value chain, help them grow, and ultimately create value by guiding these companies towards a monetization event. Together with our portfolio, we are helping build the cannabis industry of tomorrow, today.
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 Canopy Rivers and its portfolio companies 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 aim of certain Canopy Rivers portfolio companies to introduce new or expanded choices for cannabis consumers and medical patients in Canada and the U.S.; the ability of Canopy Rivers’ portfolio companies to respond to consumer demand while executing on their long-term strategies; management’s belief that there is greenfield in the Canadian brand market; Dynaleo’s goal of closing the gap between supply and demand for gummies in Canada; Agripharm’s plan to launch three products from SLANG’s portfolio; the continued growth of the medical program in Pennsylvania; and expectations for other economic, regulatory, 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 Canopy Rivers 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 Canopy Rivers. 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; changes in the plans, goals and business activities of Canopy Rivers’ portfolio companies; changes in cannabis industry growth and trends; changes in consumer preferences and demands and the ability of Canopy Rivers’ portfolio companies to respond thereto; changes in general economic, business and political conditions, including challenging global financial conditions and the impact of the novel coronavirus pandemic; potential conflicts of interest; the regulatory landscape and enforcement related to cannabis, including political risks and risks relating to regulatory change; changes in Canopy Rivers’ relationship with its portfolio companies; risks associated with the termination, renegotiation and enforcement of material contracts; credit, liquidity and additional financing risks; changes in applicable laws; compliance with extensive government regulation, including Canopy Rivers’ interpretation of such regulation; public opinion and perception of the cannabis industry; divestiture risks; competition risks; and the risk factors set out in Canopy Rivers’ annual information form dated June 2, 2020, filed with the Canadian securities regulators and available on Canopy Rivers’ 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 Canopy Rivers 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. Canopy Rivers does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.
Schwazze, formerly operating as Medicine Man Technologies, Inc., a vertically-integrated Colorado cannabis company, today provided a business update. Specifically, the company shared the pro forma financial results that reflect the acquisition of Mesa Organics, which closed on April 20, 2020, and announced the termination of previously named term sheets including “the Dabble Term Sheet” with Cold Baked, LLC and Golden Works, LLC, the “Los SueñosTerm Sheet” with Los Suenos, LLC and Emerald Fields Grow, LLC, and the “Farm Boy Term Sheet” (as part of the Los Sueños Farm acquisition) with Farm Boy, LLC and Baseball 18, LLC.
Pro Forma Financial Results Including Acquisition of Mesa Organics
The company provided unaudited condensed combined pro forma financial results for the first three months of 2020, the full year 2019, and balance sheet as of March 31, 2020. These financial results reflect the acquisition of Mesa Organics, which closed on April 20, 2020. The company believes that providing the pro forma results will enable shareholders to evaluate its ongoing performance more accurately.
Nancy Huber, Chief Financial Officer of Schwazze said, “We are excited to have Mesa Organics and the extraction and manufacturing business, Purplebee’s, as a cornerstone in the vertically integrated platform we are building in Colorado. In the pro forma 2019 Income Statement, Mesa Organics was accretive to Schwazze by $0.09 cents per share, and we believe this business will continue to be accretive to our overall platform. Additionally, since the closing of the acquisition, we have made significant progress in integrating the Mesa Organics and Purplebee’s operations. We are excited about the opportunity ahead and look forward to sharing our results going forward.”
The unaudited condensed combined pro forma results including standalone Schwazze and Mesa Organics historical results, and explanatory notes were included in a Form 8-K/A filed with the U.S. Securities and Exchange Commission on July 2, 2020.
Acquisition Strategy Update
Schwazze terminated the binding term sheets for two announced acquisitions with Dabble Extracts, a cannabis concentrates company, and Los Sueños Farms, an outdoor and greenhouse cannabis cultivator. Following the signing of Colorado House Bill 19-1090, the Company quickly moved forward on numerous term sheets with Colorado cannabis operators with limited due diligence completed. However, throughout the Company’s rigorous M&A process, key business and valuation issues were identified and as such, the Company decided to no longer pursue the acquisitions of Dabble and Los Sueños Farms.
Justin Dye, Chairman and Chief Executive Officer of Schwazze shared, “We know that continuing to focus on shareholder return is the right thing to do at this time. Our Board believes that it is in our best interest to build a differentiated business in Colorado. Additionally, we remain confident in our ability to grow organically and through future merger and acquisition opportunities. We have a strong M&A and real estate growth plan and infrastructure to provide us a pipeline of opportunities in the marketplace.”
The company reiterated its commitment to establishing a leading vertically integrated platform in the cannabis space. With a proven leadership team comprised of Fortune 500 executives and cannabis experts, the company will continue to make decisions that uniquely position Schwazze to provide the most trusted products and experiences for consumers. The company remains in negotiations with the following announced acquisitions, Roots Rx, Medicine Man, MedPharm, Canyon Cultivation, and Medically Correct.
In March, after running BudCars for a month and watching the growth curve in full effect, Sugarmade Inc (OTCMKTS:SGMD) management gave guidance about its new subsidiary, suggesting that it might be capable of as much as $15 million in annualized revenues.
In the course of the development of any “stock story” in the market, we always reach the moment where we must come to terms with how credible a company is in its own forecasting.
What Sort is SGMD?
That narrative always tips in one of two directions: 1. They overpromise and underdeliver, or 2. They sandbag and blow it out.
So far, SGMD appears far more aligned toward option number two than option number one – they undershoot when they put out guidance, and then they leap gracefully over the bar.
With that in mind, the company just provided updated revenue expectations for July and calendar Q3 BudCars performance. According to the release, based on robust growth and underlying data trends witnessed in May and June, and continued very strong performance underway so far in July, management now forecasts continued month-over-month sequential sales growth of 30% in July and August, positioning the company for July sales of at least $650K, and a pace lined up to close out September with annualized BudCars revenues running at or above $11 million.
Hence, the company’s most recent data covering its June performance suggests closer to $25-30 million in annualized revenue pace by year end than $15 million. In other words, either the company was being conservative in March or things have turned out to be much more promising than expected, or possibly both.
In any case, Sugarmade Inc (OTCMKTS:SGMD) put out new guidance focused on Q3 performance. If you do the math from the numbers given, we are looking at gargantuan m/m and q/q topline and gross profit growth continuing in July and beyond as BudCars continues to ramp higher.
Jimmy Chan, CEO of Sugarmade, noted, “We believe we have enough visibility and enough data in hand to forecast that we will continue to see extremely robust growth in July and August. Many of the trends we saw come together in June to drive our performance remain in place and suggest new records across many metrics are likely this month as well.”
According to the company’s most recent release, BudCars saw improvement in every major metric during June, as covered in detail in the Company’s July 1 release. Mutually reinforcing trends in increasing new customers, strong repeat business, increasing orders per customer per period, and increasing ticket sizes continue to define performance thus far in July, suggesting a high degree of confidence in continued 30% sequential monthly topline growth and the likelihood that the Company will close out its calendar Q3 with extremely strong metrics in place heading into year-end.
In other words, the headline data points are further supported by a deeper data analysis, with the underlying trends placing this outperformance on a firm foundation, or so it would appear from the company’s account in its recent communications.
We would also point out that SGMD management has been strategizing with a long-term vision in mind, apparently, including strategic expansion into new markets and margin expansion through a clear verticalization agenda.
From its release, “In addition, Sugarmade continues to focus on further bolstering future top and bottom-line growth through aggressive expansion and verticalization plans, including the upcoming opening of its BudCars LA hub and the establishment of inhouse cultivation and product manufacturing operations at its new 5,000 square-foot indoor premium cannabis cultivation facility located in very close proximity to its Sacramento BudCars hub.”
Anyone who spends any time researching the global legal cannabis market knows that LA is ground zero. This is the promised land for pot producers.
Pair that with the ability to source its own raw supply, and you have a material basis for potential upside here: More sales on widening margins in more markets.
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California-based Success Centers launched roughly 40 years ago to assist youth released from detention centers with life skills and employment. Now, the organization has expanded to the cannabis industry, where it helps connect employers with qualified job seekers in the Bay Area with a focus on social equity.
Success Centers assists job seekers in multiple industries, from construction to the arts, and hosts Employer Spotlight hiring events to connect employers with job seekers. To serve the cannabis industry specifically, Equity for Industry Program Manager Angela White has created the Budding Industry Job Shop, where several employers give presentations about their companies and what a day in the job looks like.
“We’ll have the job description pulled up, and what’s different is we’ll have questions from the audience of job seekers,” White says. “We want to have a good retention rate. We don’t only want people hired at these companies, but we want them to feel comfortable and safe and … to be a good fit there.”
Following the events, employers interview potential candidates, and Success Centers is an active participant in the process, ensuring job seekers have all the necessary resources.
Under San Francisco’s Equity Program, cannabis dispensaries must staff 35% of their operations with social equity applicants, and Success Centers works specifically with these companies to connect them with verified candidates.
The organization also assists social equity applicants who are trying to launch their own businesses through its Equity for Industry Workshops, which connect entrepreneurs with cannabis industry professionals who can help them set their plans in motion.
“If you’re affected by the war on drugs, that means you didn’t go to college—a lot of folks didn’t—your family was separated and you don’t know a lot of the business acumen,” White says. “We bring in industry professionals to teach [entrepreneurs] about the different aspects of the business. We have all kinds of workshops [covering topics such as] how to understand contracts, understanding nondisclosure agreements, managing a cash-only business [and] insurance.”
Success Centers recently hosted a workshop on extraction, as well as a presentation on California’s track-and-trace system.
Since the onset of the COVID-19 pandemic, many of the organization’s events have shifted to the virtual space, and White says she has seen an increase in out-of-state participants.
“I have people from Georgia joining in and Alabama because they want to know about this industry,” she says. “As the industry becomes legal across the country, … the equity community is all over, and we want them to be ready and understand … how they can get their foot in the door.”
Another aspect of Success Centers’ budtender education focuses on the terminology of the legal cannabis industry. Job seekers learn about terpenes, for example, and how to talk with customers and patients about terpene content.
“Some of the dispensaries, they’ll have these three qualifying questions when people go to apply,” White says. “If you don’t know those terms, … you’re denied right away, so I wanted to eliminate that. Learning the lingo is very important for folks from our community.”
Success Centers has partnered with Eminent Consulting in Oregon to provide a budtender training course that teaches the science behind budtending, and the organization offers a scholarship to help with the cost associated with the program.
To help teach job seekers and entrepreneurs the fundamentals of business, Success Centers also collaborates with Oaksterdam University.
“We have a cannabis scholarship for folks that want to learn the business side, and they learn everything from how to purchase the plant to how much moisture should be in it to how to lay out their building,” White says. “They cover all of that in their seminars, and they also have an exam … at the end so they can get their certificate for completing the program.”
Oaksterdam University also offers a 14-week horticulture class that teaches the fundamentals of indoor and outdoor cannabis cultivation, from lighting to pH levels.
“It’s a wonderful program, and we’re happy to be partnered with them,” White says. “They understand what it means to our community to have this opportunity, so I really appreciate the team at Oaksterdam University.”
Although Success Centers’ cannabis programming is still fairly new (White says the program launched roughly two and a half years ago), it has already celebrated its first award-winning budtender. William Brown, one of the first cannabis clients White ever worked with, was named the 2019 Budtender of the Year for his work at Harborside’s Oakland dispensary.
“I’m really excited about that,” White says. “It’s been an awesome journey, having someone actually win something like this. … When he got his trophy, it was so funny—I drove to meet him over in Oakland, and he had his trophy with him, and I was smiling harder than he was. I felt like I won the trophy.”
In order to reach more people, Success Centers recently launched a pilot program called Entrepreneurship in a Nutshell, which supports those looking to launch businesses in the industry.
“It gets people in the entrepreneurship mindset, and it helps them work with business models [and] put their ideas together so that they’re ready to start a business at the end of that,” White says. “They win prizes and have an opportunity to get out and pitch their business in front of investors. We just keep trying to grow the program, growing people who want to participate and work.”
Looking ahead, White would like to create a mentorship program where entrepreneurs have the opportunity to discuss their business plans with industry professionals, who can then offer their experiences and guidance.
“We’re just really excited about the future of this industry,” White says. “It’s a rough journey, and we want to be here to make sure our folks are getting in. We would love to move this across the nation, building a model for how things should be done.”
TORONTO–(BUSINESS WIRE)–CannaGlobal, Sansero Life Sciences, and Rise Wellness today announced the creation of CannaGlobal Wellness, a global psychedelics leader focused on psilocybin and other natural compounds to promote emotional, mental, and physical wellness. Leveraging an internationally renowned team with a track record of success, the company will be ideally positioned in the evolving psychedelics industry.
“Three hundred million people worldwide suffer from depression, and one out of 13 people have an anxiety disorder”
Lorne Gertner, co-founder of Tokyo Smoke, Cannasat Therapeutics (now Cynapsus Therapeutics), and PharmaCan Capital (now The Cronos Group), will serve as Chairman. Leveraging his vast experience and extensive network in the global cannabis and wellness industries, he founded CannaGlobal to pursue the advancement of cannabis and global wellbeing. Steve Sadoff, co-founder of Sansero, will serve as CEO. Mr. Sadoff has 15 years of experience developing, launching and growing brands and products within highly regulated environments including nutraceuticals, natural health and cannabis. Irie Selkirk, will continue to lead Rise Wellness, leveraging her extensive experience as a retailer, patient support expert and as an educator, facilitator, and leader in the cannabis and psychedelics industries. Dr. Darryl Hudson, PhD Molecular Biology and Genetics, will take on the role of Chief Science Officer, bringing with him a deep understanding and unparalleled expertise in the areas of plant molecular biology, neuroscience and genetics in cannabis and psychedelics.
“This is a major step forward for mental health in Canada and around the world,” said Gertner. “Psilocybin is proven to have real benefits for treating serious conditions that affect millions of people, and we are excited to be on the cutting edge of helping people improve their lives and making the world a better place, which I am passionate about and have spent the majority of my life pursuing.”
CannaGlobal Wellness will fuse Sansero’s best-in-class science team and capabilities in the development of novel formulations and intellectual property in psilocybin-based treatments, Rise Wellness’ delivery of industry-shaping immersive healing experiences, and CannaGlobal’s worldwide network of natural wellness pioneers. The synergies created by this merger will enable the company to offer an extensive and scalable menu of wellness solutions in the short term, while also accelerating the development and commercialization of psilocybin-based neurotherapeutics.
“Three hundred million people worldwide suffer from depression, and one out of 13 people have an anxiety disorder,” Sadoff said. “Without effective treatment, these illnesses can be debilitating, and even life threatening. But current treatments aren’t universally tolerated and always effective. Our formulations have indicated that psilocybin, when combined with natural molecules and world-class immersive healing environments, offers a superior alternative to single-molecule drugs that merely suppress symptoms. This merger gives us the infrastructure and network to bring new, game-changing, neurotherapies to market with maximum efficiency.”
Stoic Advisory Inc. is acting as Financial Advisor for CannaGlobal and its Board of Directors. Wildeboer Dellelce LLP is acting as legal advisors to CannaGlobal. Borden Ladner Gervais LLP (BLG) is acting as legal advisor to both Sansero and Rise.
Contacts Corey Herscu for CannaGlobal Wellness. email@example.com 416-300-3030