Category Archives: Cannabis Legalization

High Tide Opens New Canna Cabana Store in Calgary

High Tide Opens New Canna Cabana Store in Calgary

High Tide Inc. (TSXV: HITI) (OTCQB: HITIF) (FRA: 2LY), an Alberta -based, retail-focused cannabis corporation enhanced by the manufacturing and wholesale distribution of smoking accessories and cannabis lifestyle products, today announced that the Canna Cabana retail store located in Unit #101 624 8 Avenue SE, in Calgary’s Centre City East Village has begun selling recreational cannabis products for adult use. This will be the first retail cannabis store to begin servicing the local neighbourhood. This opening represents High Tide’s ninth Calgary location and 69th across Canada selling recreational cannabis products and consumption accessories.

ccstore 21 01 05 (CNW Group/High Tide Inc.)

“We continue to execute our retail expansion strategy by adding a great location in Calgary’s East Village,” said Raj Grover, President and Chief Executive Officer of High Tide. “The new store will follow High Tide’s well established and differentiated business model that offers consumers a one-stop shopping experience for all of their cannabis flower, beverage, edible and consumption accessory needs,” added Mr. Grover.

About High Tide Inc.

High Tide is a retail-focused cannabis company enhanced by the manufacturing and distribution of consumption accessories. The Company is the largest Canadian retailer of recreational cannabis as measured by revenue, with 69 current locations spanning Ontario , Alberta , Manitoba andSaskatchewan . High Tide’s retail segment features the Canna Cabana, KushBar, Meta Cannabis Co., Meta Cannabis Supply Co. and NewLeaf Cannabis banners, with additional locations under development across the country. High Tide has been serving consumers for over a decade through its numerous consumption accessory businesses including e-commerce platforms Grasscity.com and CBDcity.com, and its wholesale distribution division under Valiant Distribution, including the licensed entertainment product manufacturer Famous Brandz. High Tide’s strategy as a parent company is to extend and strengthen its integrated value chain, while providing a complete customer experience and maximizing shareholder value. Key industry investors in High Tide include Aphria Inc. (TSX:APHA) (NYSE:APHA) and Aurora Cannabis Inc. (NYSE:ACB) (TSX:ACB).

Neither the TSX Venture Exchange (the “TSXV”) nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expect”, “potential”, “believe”, “intend” or the negative of these terms and similar expressions. Forward-looking statements in this news release are based on certain assumptions made by High Tide. While High Tide considers these assumptions to be reasonable, based on information currently available, they may prove to be incorrect. Readers are cautioned not to place undue reliance on forward-looking statements.

Forward-looking statements also necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; marketing costs; loss of markets; future legislative and regulatory developments involving the retail cannabis markets; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the retail cannabis industries generally; income tax and regulatory matters; the ability of High Tide to implement its business strategy; competition; currency and interest rate fluctuations; the COVID-19 pandemic nationally and globally and the response of governments to the COVID-19 pandemic in respect of the operation of retail stores and other risks.

Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.

Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect our expectations as of the date hereof, and thus are subject to change thereafter. High Tide disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Factors that could cause anticipated opportunities and actual results to differ materially include, but are not limited to, matters referred to above and elsewhere in High Tide’s public filings and material change reports, which are and will be available on SEDAR.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America . The securities have not been and will not be registered under the United States Securities Act of 1933 (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available .

SOURCE High Tide Inc.

 

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Published at Fri, 22 Jan 2021 12:11:59 +0000

The Biden Presidency Looks To Be Installing Several Pro-Cannabis People Into Key Roles In Government

The Biden Presidency Looks To Be Installing Several Pro-Cannabis People Into Key Roles In Government

After Kamala Harris was nominated to be President Elect Joe Biden’s running mate, we knew that brighter days were ahead for the cannabis industry……..and the market seemed to agree with us.

After Joe Biden was projected to win the election, the cannabis sector recorded strong moves to the upside for almost two months. Although the sector has come off its recent highs, we believe the recent additions to President Elect Joe Biden’s cabinet send a very bullish sign to the cannabis industry.

During the last month, President Elect Joe Biden has announced several key cannabis-friendly additions to his cabinet. When you combine the democrats winning two key senate seats in Georgia (and became the majority of both the House of Representatives and the Senate) with the recent additions to the cabinet, we believe that the US cannabis industry is going to flourish.

Most recently, President elect Joe Biden selected former South Carolina Democratic Party Chair Jaime Harrison to lead the Democratic National Committee (DNC). He is a strong supporter of cannabis legalization and will be responsible for coordinating Democrats’ national political activities. Harrison still needs to be confirmed by party leaders, but we are confident that he will.

When Harrison ran for a Senate seat in South Carolina, he said that the US should legalize, regulate and tax cannabis like alcohol and tobacco. We are favorable on his appointment and believe that his views on cannabis will be reflected in the Democrats’ national political activities.

While we can hope for the legalization of cannabis the federal level, we believe the new administration (and government) will quickly pass cannabis decriminalization legislation. If we see cannabis decriminalized, we believe that companies will quickly notice significant margin appreciation. If cannabis is decriminalized, 280 E should be revoked, and this would prove to be a substantial catalyst for companies.

280E is the worst legislation we have ever seen in any industry. The rule does not allow companies to deduct basic business expenses and makes it much more challenging for operators to reach profitability. We believe the revoking of 280E is inevitable and is something that our readers should be aware of.

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Authored By

Michael Berger

Michael Berger is Managing Partner 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, 20 Jan 2021 12:53:39 +0000

Cardiol Therapeutics Appoints Worldwide Clinical Trials as CRO for the Company’s Phase II/III Outcomes Trial in High-risk Patients Hospitalized with COVID-19

Cardiol Therapeutics Appoints Worldwide Clinical Trials as CRO for the Company’s Phase II/III Outcomes Trial in High-risk Patients Hospitalized with COVID-19

Cardiol Therapeutics Inc. (TSX: CRDL)(OTCQX: CRTPF), a clinical-stage biotechnology company focused on the research and clinical development of anti-inflammatory therapies for the treatment of cardiovascular disease, announces that it has appointed contract research organization Worldwide Clinical Trials, as the Company initiates it’s Phase II/III trial in high-risk patients hospitalized with COVID-19 at clinical centers throughout the United States. The double-blind, placebo-controlled clinical trial is designed to investigate the efficacy and safety of CardiolRxTM, a pharmaceutically produced extra strength cannabidiol formulation, in 422 hospitalized COVID-19 patients with a prior history of, or risk factors for, cardiovascular disease. This patient population is at significant risk of developing cardiovascular complications, which are frequently fatal, during their illness.

Worldwide has been the CRO for several international COVID-19 clinical programs and has extensive experience in conducting clinical research focused on cardiovascular disease. With a global footprint, Worldwide provides unparalleled drug development expertise from early phase to late-stage clinical development, post-approval, and real-world evidence studies; delivering high quality clinical programs designed to support regulatory approvals in multiple jurisdictions. Employing more than 1,900 professionals, Worldwide provides drug development support services in over 60 countries with offices in North and South America, Europe, and Asia.

“We are pleased to be collaborating with Worldwide Clinical Trials as we initiate our Phase II/III trial in high-risk patients hospitalized with COVID-19 at clinical centers throughout the U.S.,” stated David Elsley, President and CEO of Cardiol Therapeutics. “While this potentially registrational trial is designed primarily to evaluate the impact of CardiolRx on reducing mortality and major cardiovascular outcomes in COVID-19 patients who have a prior history of, or risk factors for, cardiovascular disease, this important study will also investigate the therapy’s influence on key markers of inflammatory heart disease. These findings are expected to provide invaluable data with respect to the therapeutic potential of CardiolRx in the treatment of inflammatory heart disease, including heart failure which remains a leading cause of death and disability and a major economic burden in developed nations.”

The composite primary efficacy endpoint will be the difference between the active and placebo groups in the percentage of patients who develop, during the first 28 days following first dose of study medication, one or more of the following outcomes: i) all-cause mortality, ii) requirement for ICU admission and/or ventilatory support, and iii) cardiovascular complications, including the development of heart failure, acute myocardial infarction, myocarditis, stroke, or new sustained or symptomatic arrhythmia. The study was designed by and will be overseen by an independent Steering Committee, consisting of international thought leaders in inflammatory heart disease. The Steering Committee is chaired by Dr. Dennis McNamara, Professor of Medicine and Director of the Center for Heart Failure Research, University of Pittsburgh and co-chaired by Dr. Leslie Cooper, Chair of the Mayo Clinic Enterprise Department of Cardiovascular Medicine and Chair of the Department of Cardiovascular Medicine, Mayo Clinic.

The rationale for using cannabidiol to treat patients with COVID-19 is based on its reported anti-inflammatory and cardioprotective effects which are anticipated to prevent COVID-19-related cardiovascular complications, thereby reducing morbidity and mortality. Cardiovascular complications such as myocardial injury (demonstrated by elevated blood troponin levels) are common in COVID-19 patients and are linked to a higher rate of mortality. Cannabidiol has been shown to reduce elevated troponin and reduce pro-inflammatory responses in models of cardiotoxicity. In pre-clinical models of cardiac injury, cannabidiol has been shown to be cardioprotective by reducing cardiac hypertrophy, fibrosis, and the production of certain re-modelling markers, such as cardiac B-type Natriuretic Peptide (BNP), which is elevated in patients with COVID-19, cardiac damage, and/or heart failure.

About Cardiol Therapeutics

Cardiol Therapeutics Inc. (TSX: CRDL)(OTCQX: CRTPF) is a clinical-stage biotechnology company focused on the research and clinical development of anti-inflammatory therapies for the treatment of cardiovascular disease (CVD). The Company’s lead product, CardiolRx™, is a pharmaceutically produced oral cannabidiol formulation that is currently entering a Phase II/III outcomes study in hospitalized patients testing positive for the COVID-19 virus. This potentially registrational trial is designed to evaluate the efficacy and safety of CardiolRx as a cardioprotective therapy to reduce mortality and major cardiovascular events in COVID-19 patients who have a prior history of, or risk factors for, CVD, and to investigate the influence CardiolRx has on key markers of inflammatory heart disease.

Cardiol is also planning to file an IND for a Phase II international trial that will investigate the anti-inflammatory and anti-fibrotic properties of CardiolRx in patients with acute myocarditis, which remains the most common cause of sudden cardiac death in people under 35 years of age. In addition, Cardiol is developing a subcutaneous formulation of CardiolRx and other anti-inflammatory therapies for the treatment of chronic heart failure – a leading cause of death and hospitalization in North America, with associated annual healthcare costs in the U.S. alone exceeding $30 billion.

Cardiol recently commercialized Cortalex™ (cortalex.com) in the Canadian market.  Cortalex is a pharmaceutically produced cannabidiol formulation, developed for patients who wish to avoid THC or for whom THC exposure is not recommended. For more information about Cardiol Therapeutics, please visit cardiolrx.com.

For further information, please contact:

David Elsley, President & CEO +1-289-910-0850

david.elsley@cardiolrx.com

Trevor Burns, Investor Relations +1-289-910-0855

trevor.burns@cardiolrx.com

Cautionary statement regarding forward-looking information:

This news release contains “forward-looking information” within the meaning of applicable Canadian securities laws. All statements, other than statements of historical fact, that address activities, events, or developments that Cardiol Therapeutics Inc. (“Cardiol” or the “Company”) believes, expects, or anticipates will, may, could or might occur in the future are “forward- looking information”. Forward-looking information contained herein may include, but is not limited to, statements with respect to that, our Phase II/III study is potentially a registrational trial and is expected to provide invaluable data with respect to the therapeutic potential of CardiolRx in the treatment of inflammatory heart disease, including heart failure and the Company’s plans for a Phase II international trial of CardiolRx™ in acute myocarditis and developing a subcutaneous formulation of CardiolRx and other anti-inflammatory therapies for the treatment of chronic heart failure. Forward-looking information contained herein reflects the current expectations or beliefs of Cardiol based on information currently available to it and is subject to a variety of known and unknown risks and uncertainties and other factors that could cause the actual events or results to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. These risks and uncertainties and other factors include the risks and uncertainties referred to in the Company’s Annual Information Form dated March 30, 2020, including the risks and uncertainties associated with product commercialization and clinical studies, and uncertainties in predicting treatment outcomes. These risks, uncertainties and other factors should be considered carefully, and investors should not place undue reliance on the forward-looking information. Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, Cardiol disclaims any intent or obligation to update or revise such forward-looking information, whether as a result of new information, future events or results or otherwise. Although Cardiol believes that the expectations reflected in the forward-looking information are reasonable, they do involve certain assumptions, risks, and uncertainties and are not (and should not be considered to be) guarantees of future performance. It is important that each person reviewing this news release understands the significant risks attendant to the operations of Cardiol.

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Authored By

Michael Berger

Michael Berger is Managing Partner 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 Tue, 15 Dec 2020 12:35:16 +0000

Namaste Technologies Adds CannMart Labs as Wholly Owned Subsidiary and Provides Corporate Update Including Announcement of Virtual Town Hall

Namaste Technologies Adds CannMart Labs as Wholly Owned Subsidiary and Provides Corporate Update Including Announcement of Virtual Town Hall

Namaste Technologies Inc. (TSXV: N) (FRANKFURT: M5BQ) (OTCMKTS: NXTTF ), a leading platform for cannabis products, accessories, and education, is pleased to provide shareholders a corporate update on its recent activities:

Cyber Weekend Highlights:

  • Average order value increased 42% compared to 2019 to $192
  • Online traffic increased 50% over 2019 cyber weekend
  • 40% more giveaway entries than expected. These entries generated email newsletter sign ups, increased social media visits and interactions
  • Best sales in Dried Flower: Sage n Sour and Sensi Star, both under the CannMart brand
  • Best sales in Cartridges : Disposable Cart Bundle and Pink Kush 0.5g Cart, both under the CannMart licensed Phyto Extractions brand
  • Best sales in Edibles : Strawberry Lemonade 1:1 Sour Gummies and Watermelon Hybrid Sour Gummies, both under the Wana brand supplied by Indiva
  • Best sales in Infused Oils : Treasure Island CBD Tincture under the CannMart brand and CBD Soft Gels under the brand and supplied by Indiva

“We are pleased by activity this past cyber weekend to see our own CannMart and licensed brands shine alongside our valued partner brands which is a clear validation by consumers that our strategy is working,” said Meni Morim , CEO of Namaste. “Our average order value increased by 42% compared to 2019, demonstrating that our investment into our e-commerce platform is driving solid results. We are clearly focused on the execution of our strategy to position Namaste as a leading cannabis company and look forward to building on this positive momentum as we head into the upcoming holiday season.”

Save the Date – Namaste Virtual Town Hall:

  • We have been actively listening to our shareholders and would like to announce a virtual town hall so they can hear an in depth presentation on the future direction of the Company
  • Wednesday, December 16 th
  • 12:00 p.m. EST
  • Presentation by Meni Morim followed by Q&A
  • All Shareholders are invited to submit their questions by December 14 th to: ir@namastetechnologies.com . Our CEO, Meni Morim , will answer submitted investors questions during the town hall event.

Completion of Acquisition of 49% Interest in CannMart Labs:

Namaste has completed the acquisition of the remaining 49% interest in CannMart Labs Inc. (” CannMart Labs “), an applicant for a processing licence under the Cannabis Act ( Canada ) for cannabis extraction activities, pursuant to the previously announced share purchase agreement (the ” Share Purchase Agreement “) entered into among Namaste and MKD Holdings Inc. and JLLS Holdings Inc. (together, the ” Vendors “).

Execution of the Share Purchase Agreement was first announced by the Company on November 18, 2020 , confirming a purchase price of $4,034,000 (the “Purchase Price “), and earn-out payments in the form of Namaste common shares, on a sliding scale, upon the achievement of pre-determined revenue targets (the ” Earn-Out Payments “) payable over 9 fiscal quarters at a maximum of approximately $1.94M per Earn-Out Payment, payable in Namaste common shares or, at Namaste’s option, in cash with a 5% discount. A first tranche of the Purchase Price of $1,608,500 has been paid to the Vendors by way of issuance of 7,123,560 Namaste common shares, issued at a deemed price of $0.2258 , being the 7-day VWAP up to and including December 1, 2020 .

Appointment of Vice President, Investor Relations:

Namaste is pleased to announce the appointment of Edward Miller as Vice President, Investor Relations effective November 16 , 2020.  Mr. Miller brings more than 20 years experience as a seasoned investor relations professional in the pharmaceutical and cannabis industry.  Mr. Miller has built several award-winning programs and this appointment affirms the Company’s clear commitment to increasing and improving its dialogue with shareholders going forward.

Subject to Exchange approval, Namaste has granted Mr. Miller options to acquire 170,000 common shares in the capital of the Company at a price of CAD$0.23per share that vest quarterly over 3 years and have a four-year term.

Announcement of Whistle Blowing System:

The Company is committed to integrity and honesty. Affirming said commitment, Namaste has launched a Whistle-blower Program that allows employees to anonymously and confidentially report cases of workplace misconduct.  The program is supported by ClearView Connects™, a Canadian-based reporting solution provided by an independent, third-party supplier.  Employees can safely and anonymously submit reports or questions through ClearView’s secure website, toll-free telephone hotline or post office box.  ClearView Connects™ is easy to use and available 24/7.

About Namaste Technologies Inc.

Headquartered in Toronto, Canada , Namaste Technologies is a leading online platform for cannabis products, accessories, and responsible education. The Company’s ‘everything cannabis store’, CannMart.com, provides medical customers with a diverse selection of hand-picked products from a multitude of federally-licensed cultivators, all on one convenient site. The Company also distributes licensed and in-house branded cannabis and cannabis derived products to recreational consumers in Canada through a number of provincial government control boards and retailing bodies and facilitates licensed cannabis retailer sales online in Saskatchewan . Namaste’s global technology and continuous innovation address local needs in a burgeoning cannabis industry requiring smart solutions.

Information on the Company and its many products can be accessed through the links below:
NamasteTechnologies.com
NamasteMD.com
Cannmart.com

FORWARD-LOOKING INFORMATION – This news release contains “forward-looking information” within the meaning of applicable securities laws. All statements contained herein that are not historical in nature contain forward-looking information. Forward-looking information can be identified by words or phrases such as “may”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “believe” or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions “may” or “will” happen. The forward-looking information contained herein, including, without limitation, statements related to the future success of Namaste’s business strategy, is made as of the date of this press release and is based on assumptions management believed to be reasonable at the time, including, without limitation, Namaste’s standing in the online marketplace for cannabis products, Namaste’s beliefs regarding the expected demand for cannabis products and the expected growth of that market, results of operations, operational matters, historical trends, current conditions and expected future developments, as well as other considerations that are believed to be appropriate in the circumstances. While we consider these assumptions to be reasonable based on information currently available to management, there is no assurance that such expectations will prove to be correct. By its nature, forward-looking information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking information in this press release. Such factors include, without limitation: regulatory risk, risks relating to the Company’s ability to execute its business strategy and the benefits realizable therefrom and risks specifically related to the Company’s operations. Additional risk factors can also be found in the Company’s current MD&A and annual information form, both of which have been filed under the Company’s SEDAR profile at www.sedar.com . Readers are cautioned not to put undue reliance on forward-looking information. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

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 or has in any way approved or disapproved of the contents of this press release.

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SOURCE Namaste Technologies Inc.

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Published at Thu, 03 Dec 2020 13:07:15 +0000

Medipharm Labs Is Looking To Capitalize On B2C In A Major Way Through LABS Cannabis

Medipharm Labs Is Looking To Capitalize On B2C In A Major Way Through LABS Cannabis

Early last week, MediPharm Labs (LABS) (MEDIF) reported a major development as it relates to the cannabis 2.0 market and announced the launch of a product line of family of health and wellness called LABS Cannabis. This represents a major change in direction for the business and we have always been favorable on this possibility for it.

MediPharm expects the first product to launch early in the fourth quarter of 2020 and we are bullish on the potential that is associated with the strategy. The premium product line will target Canada’s recreational cannabis market and will distribute products through government and private retail channels.

In late 2018, MediPharm was granted a Sale License from Health Canada and has a proven track record of success in the cannabis concentrate market. The company works out of a sophisticated GMP certified facility and has a reputation of being a best-in-class operator and a global leader in the manufacturing of premium cannabis products.

We expect the LABS Cannabis portfolio to offer premium cannabis products that meet the standards of the most discerning customers. From a consumer standpoint, we like to compare the cannabis industry to the wine industry in the sense that there is a very high-end consumer. These types of consumers want to buy the best products and do not care as much about the cost.

Although the LABS Cannabis portfolio will predominantly include wellness products that are formulated with cannabidiol (CBD), MediPharm plans to have specialized offerings that could also be formulated with tetrahydrocannabinol (THC) and/or other minor cannabinoids that address potential effects. We expect this vertical to lead to margin expansion for MediPharm in 2021 and are bullish on how the story has evolved.

Last year, EY Canada conducted a survey of approx. 3,000 individuals to better understand the perspective of the average Canadian cannabis consumers. A segment of the survey group was referred to as a Wellness Inquisitor who consume almost daily and spend about $165 each per month on cannabis products. If this analysis was expanded and the percentages were used on the entire Canadian population, there would be 1.1 million Wellness Inquisitors. This segment reported that quality (83%) and intended effects (76%) are the most important purchase criteria and believe that MediPharm could be able to capitalize on this population.

Pursuant to an agreement between StoneBridge Partners LLC and Medipharm Labs we have been hired for a period of 180 days beginning August 18, 2020 and ending March 18, 2020 to publicly disseminate information about (LABS) including on the Website and other media including Facebook and Twitter. We are being paid $6,000 per month (LABS) for or were paid “ZERO” shares of unrestricted or restricted common shares. We own zero (0) shares of (LABS), which we purchased in the open market. We plan to sell the “ZERO” shares of (LABS) that we hold during the time the Website and/or Facebook and Twitter Information recommends that investors or visitors to the website purchase without further notice to you. We may buy or sell additional shares of (LABS) in the open market at any time, including before, during or after the Website and Information, provide public dissemination of favorable Information.

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Authored By

Michael Berger

Michael Berger is Managing Partner 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 Mon, 02 Nov 2020 16:08:17 +0000

Subversive Real Estate Acquisition REIT LP Aligns Shareholder Interests and Enhances Transaction with Grant of Rights to Holders of Non-Redeemed Restricted Voting Units

Subversive Real Estate Acquisition REIT LP Aligns Shareholder Interests and Enhances Transaction with Grant of Rights to Holders of Non-Redeemed Restricted Voting Units

Subversive Real Estate Acquisition REIT LP (NEO: SVX.U) (NEO: SVX.RT.U) (OTCBB: SBVRF) today announced that it has agreed to grant an aggregate of up to 24,116,750 million contingent rights to holders of restricted voting units that are not redeemed in connection with the REIT LP’s previously announced qualifying transaction and to holders of Restricted Voting Units that are issued in connection therewith, which Contingent Rights will be issued to holders of record on the day following the closing of the REIT LP’s qualifying transaction.

The Contingent Rights will be distributed to holders of Restricted Voting Units pro rata based on the number of Restricted Voting Units held by such holder.Accordingly, if there are no redemptions of Restricted Voting Units, each holder of record will receive one Contingent Right per Restricted Voting Unit held. To the extent there are redemptions of Restricted Voting Units, each Non-Redeeming Holder will receive more than one Contingent Right per Restricted Voting Unit held, depending upon the quantum of redemptions.

On the automatic exercise of the Contingent Rights, holders will be entitled to receive, for no additional consideration, one limited partnership unit for every five Contingent Rights held, which may be subject to adjustment. The Contingent Rights will automatically be exercised by the holders thereof upon the earlier of (a) the listing of the REIT LP units on a recognized major U.S. exchange, and (b) cannabis production and sale becoming federally legal in the United States . In support of the transaction, and in connection with the issuance of the Contingent Rights, the REIT LP’s founders will forfeit the equivalent of approximately four million Limited Partnerships Units in the form of proportionate voting units with a notional equity value of approximately US$40 million .

Michael Auerbach , Chief Executive Officer at Subversive Capital and Executive Chairman at the REIT LP stated, “The grant of the Contingent Rights shows the commitment of the REIT LP’s founders to the success of its Qualifying Transaction, and provides a significant benefit to investors upon a future U.S. listing or cannabis becoming federally legal in the United States . We continue to believe our diverse portfolio of 15 industrial and retail properties in strategic, high growth cannabis markets, which are leased to leading operators, presents an extremely attractive opportunity for investors as the second publicly traded cannabis REIT,  with a targeted 6.5% initial annualized cash distribution yield, paid monthly, as well as a substantial growth opportunity over time.”

The REIT LP has applied to list the Contingent Rights on the Neo Exchange Inc. under the symbol SVX.RT.C. The listing of the Contingent Rights is subject to the REIT LP fulfilling all of the requirements of the exchange.

The Contingent Rights will not possess any redemption or distribution rights. The Contingent Rights will expire and be worthless if they do not convert upon their terms prior to the 10 th anniversary of the Closing.

No fractional Contingent Rights will be issued. If a holder would be entitled to receive a fractional interest in a Contingent Rights, we will round down to the nearest whole number of Contingent Rights to be issued to such holder. The Contingent Rights will not be distributed if the REIT LP’s qualifying transaction does not close.

For more information, the Company has posted an investor presentation and preliminary long form prospectus to its website at www.subversivecapital.com/reit .

Additionally, the Company held a conference call to discuss the Qualifying Transaction on October 9, 2020 . A webcast replay of the conference call is available on the Company’s website.

About Subversive Real Estate Acquisition REIT LP

Subversive Real Estate Acquisition REIT LP is a limited partnership established under the Limited Partnerships Act ( Ontario ) formed for the purpose of effecting, directly or indirectly, an acquisition of one or more businesses or assets, by way of a merger, amalgamation, arrangement, equity exchange, asset acquisition, equity purchase, reorganization, or any other similar business combination involving the REIT LP that will qualify as its qualifying transaction for the purposes of the rules of the Neo Exchange Inc. (the ” Exchange “) The REIT LP is a special purpose acquisition corporation for the purposes of the rules of the Exchange. The REIT LP’s Restricted Voting Units and Contingent Rights are listed on the Exchange under the symbols “SVX.U” and “SVX.RT.U”, respectively.

Forward-Looking Statements

This press release may contain forward looking information within the meaning of applicable securities legislation, which reflects the REIT LP’s current expectations regarding future events. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the REIT LP’s control, that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. The REIT LP does not undertake any obligation to update such forward looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

SOURCE Subversive Real Estate Acquisition REIT LP

Published at Mon, 19 Oct 2020 12:37:26 +0000

Wildflower Brands’ subsidiary, City Cannabis, completes state of the art buildout of its flagship store

Wildflower Brands’ subsidiary, City Cannabis, completes state of the art buildout of its flagship store

Wildflower Brands Inc . (CSE: SUN ) (CNSX:SUN.CN) ( OTC: WLDFF ) announces that City Cannabis Co, a wholly-owned subsidiary of Wildflower has completed its buildout of their flagship location in the heart of downtown Vancouver on the most popular shopping street, Robson.

With the city of Vancouver’s strict distancing from sensitive use areas and other cannabis store location restrictions, City Cannabis has positioned itself in the most sought after area in Western Canada .

“Every aspect, such as our one-of-a-kind pneumatic tubing product delivery system, has been designed to provide a truly unique experience you won’t get anywhere else”, says Krystian Wetulani, CEO of City Cannabis. “The unique feel and design now match our unrivalled product quality and consistency that the City Cannabis brand has become synonymous for.”

“This build-out was funded from our revenues, and at nearly a million dollars, it speaks to the strength of our business”, says William Maclean, CEO of Wildflower Brands. “This store is the flagship and will be the standard, not only for all of our subsequent stores, but for the industry as a whole.”


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ABOUT WILDFLOWER BRANDS INC.

Wildflower Brands is a Vancouver-based company developing and designing brands that focus on plant-based health and wellness products. All of our brands work in synergy, toward becoming a global wellness leader.

For more information about Wildflower Brands, visit wildflowerbrands.co . To learn, engage and shop our wellness products visit buywildflower.com .

ABOUT CITY CANNABIS CO.

City Cannabis is a premier cannabis retailer recently acquired by Wildflower Brands and holds three City of Vancouver licenses to sell cannabis and four licenses in the Province of B.C. City Cannabis has been profitabl e operating various dispensaries in Vancouver since Vancouver commenced licensing cannabis retailers.

For more information about City Cannabis, visit citycannabis.co .

Corporate Communications Contact:

Krystian Wetulani, Director & CDO

ir@wildflowerbrands.co

1-604-559-0420

Doug Kerr

communications@wildflower.ca

1-604-315-4400

Canadian Securities Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved of the contents of this press release.

Copyright (c) 2020 TheNewswire – All rights reserved.

Source: TheNewsWire (October 7, 2020 – 9:10 AM EDT)

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www.quotemedia.com

Published at Wed, 07 Oct 2020 14:13:06 +0000

3 Canadian Licensed Producer Updates Investors Need To Know

3 Canadian Licensed Producer Updates Investors Need To Know

During the last quarter, the Canadian cannabis sector has come under the microscope of the investment community and the market is analyzing the long-term viability of several key  Canadian operators.

Over the next year, we expect to see further consolidation in the Canadian cannabis industry. We also expect to see an increase in the number of companies that are filing for bankruptcy and believe that the industry is reaching an inflection point.

Selectivity has never been more important than it is today in the cannabis industry and we tend to prefer companies that meet specific criteria. Today, we want to highlight 3 Canadian Licensed Producers (LPs) that have reported significant developments over the last quarter and believe that these are operators to be aware of.

Will Cannabis Beverages Turn the HEXO Story Around?

Last month, HEXO Corporation (HEXO.TO) (HEXO) made headlines after it reported to have advanced the strategic relationship that it has with Molson Coors (TAP.CN). The companies formed Truss Beverage Co. and introduced 5 cannabis beverage brands to the Canadian cannabis market.

Truss’ cannabis beverage portfolio includes a variety of CBD and THC products that are full of natural flavors and we are favorable on the diversity of the product line. Going forward, Truss plans to rollout one of the widest cannabis beverage portfolios to the Canadian market and we will monitor how the partnership is able to execute on a coast-to-coast growth strategy.

According to a new study from Truss Beverage, 71% of Canadians of legal age cite smoking as the primary barrier to consuming cannabis, with 74% saying the smell of cannabis on their clothing is an issue (based on the Cannabis Culture Report 2020: Cannabis Usage & Attitudes, DIG Insights, May 2020).

During the last year, HEXO has been under substantial pressure and we believe that the relationship with Coors could prove to be the catalyst that the Canadian cannabis producer needed. We believe that the relationship with Molson Coors is a key pillar of the HEXO opportunity and will monitor how it benefits both businesses over the long-term.

Aurora Cannabis: Appoints New CEO after US CBD Acquisition

2020 has been a roller coaster for Aurora Cannabis Inc. (ACB.TO) (ACB) and we believe that analysts are starting to question its ability to survive the current market environment. From the closing of facilities to divesting previously acquired assets, the last twelve months have been challenging for the Canadian cannabis producer.

A few months ago, Aurora Cannabis announced the acquisition of Reliva, a hemp-derived CBD product company in the US. The transaction includes a potential earn-out that is structured to align risk and reward between Aurora shareholders and Reliva management to focus on continued strong operational and financial execution.

When the deal was announced, Aurora Cannabis reported that it expects the transaction to be immediately accretive on an adjusted EBITDA basis and we will monitor how the acquisition supports the growth of the business. We continue to be cautiously optimistic with the CBD market due to the saturation of the industry and hope that Aurora knew what it was doing when it announced the deal.

Following the acquisition, Aurora Cannabis appointed Miguel Martin as CEO and we will monitor how he is able to drive the story forward. With Martin as CEO, Aurora Cannabis plans to execute a tactical growth strategy that is intended to grow Aurora’s leading market share in key profitable Canadian consumer categories, protect and enhance Aurora’s leading market share in Canadian medical cannabis, grow the international medical business, and build leading brands under Reliva in the US CBD market.

We continue to be cautiously optimistic with Aurora Cannabis and will monitor how the management team is able to cut costs and grow revenues. The name of the game for Aurora Cannabis is execution and we will be closely following the story from here.

Canopy Growth: Trying to Increase Market Share

Last year, Canopy Growth Corporation (WEED.TO) (CGC) was considered to be the leading player in the Canadian and in the global cannabis market. A lot has changed in the last year and the company is working to optimize the business through strategic growth projects and cost cutting initiatives.

In 2019, Canopy Growth announced the firing of Bruce Linton as its CEO and Chairman. Following the firing of Bruce, Canopy Growth announced the closure of several cultivation facilities and recorded a $743 million impairment charge in the fourth quarter. These developments represent a major change in strategy for the cannabis producer and we will monitor how it benefits the business over the long-term.

During the last few months, several broker-dealers downgraded and lowered price targets on Canopy Growth and we find this to be of significance. In the most recent quarter, Canopy Growth recorded a $1.3 billion net loss and this number was much higher than what analysts were forecasting.

Although the last few months have been challenging for the Canadian cannabis producer, the business has a bright future. With almost $2 billion of cash on the balance sheet, Canopy Growth is well positioned to survive a prolonged downturn, and this is an opportunity that we will continue to closely monitor.

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Authored By

Michael Berger

Michael Berger is Managing Partner 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 Mon, 21 Sep 2020 11:44:11 +0000

Rubicon Organics to Commence Trading on the TSX Venture Exchange

Rubicon Organics to Commence Trading on the TSX Venture Exchange

Rubicon Organics Inc. (CSE:ROMJ) (OTCQX: ROMJF) (“Rubicon Organics” or the “Company”), a licensed producer focused on cultivating and selling organic certified, premium cannabis, is pleased to announce that further to its press release dated July 27, 2020, the Company has received final approval to list its common shares and 3,150,000 warrants of the Company on the TSX Venture Exchange (the “TSX-V”).

The common shares and warrants of the Company are expected to be voluntarily delisted from the Canadian Securities Exchange at the close of trading on September 21, 2020 and are expected to commence trading on the TSX-V at the opening of trading on September 22, 2020.  The Company’s common shares will continue to trade under the symbol “ROMJ” and its warrants will continue to trade under the symbol “ROMJ.WT”.

“Rubicon Organics is listing on the TSX-V to increase the liquidity of our common shares and raise our profile in the capital markets. Having recently closed an equity financing during very challenging market conditions, we have secured the balance sheet we require to execute on a very exciting pipeline of milestones which includes ramping production and revenue at our Delta, BC facility, expanding our distribution capabilities and investing in product innovation showcasing our super-premium and organic certified cannabis,” said Jesse McConnell, Chief Executive Officer.

ABOUT RUBICON ORGANICS INC.

Rubicon Organics Inc., through its wholly owned subsidiary Vintages Organic Cannabis Company Inc., is a licensed producer focused on cultivating and selling organic certified, premium cannabis from its flagship 125,000 sq. ft. state-of-the-art hybrid-greenhouse located on a 20-acre property in Delta, BC, Canada. The Company is focused on achieving industry leading profitability through the development of the brand identity Simply Bare™ Organic, that combines the sale of high-margin, premium organic products with low-cost sustainable production. The Company is currently ramping up to production capacity of 11,000 kg per year of organic certified and environmentally sustainable cannabis.

CONTACT INFORMATION

Margaret Brodie
Chief Financial Officer
Phone: +1 (437) 929-1964
Email: ir@rubiconorganics.com

Neither the TSX Venture Exchange, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the Canadian Securities Exchange accepts responsibility for the adequacy or accuracy of this press release.

Cautionary Statement Regarding Forward Looking Information

This press release contains forward-looking information within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, and statements regarding the Company’s expectations of when its securities will be delisted from the CSE and when trading will commence on the TSX-V; the Company’s belief that listing on the TSX-V will provide it and its shareholders with advantages, including greater visibility and enhanced market access for Canadian and international investors; the Company’s belief that it will gain more exposure through a larger market by listing on the TSX-V; the Company’s intention of achieving industry leading profitability; and the Company’s belief that it will achieve an annual production run rate of approximately 11,000 kg of certified organic, premium and environmentally sustainable cannabis are “forward-looking statements”. Forward-looking information can be identified by the use of words such as “will” or variations of such words or statements that certain actions, events or results “will” be taken, occur or be achieved. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward looking statements. The forward-looking information in this press release is based upon certain assumptions that management considers reasonable in the circumstances, including that its capital needs will be as currently projected. Risks and uncertainties associated with forward looking information in this press release include, among others, information or statements concerning the Company’s expectations of financial resources available to fund operations; Rubicon Organics’ limited operating history and lack of historical profits; obtaining the necessary regulatory approvals; that regulatory requirements will be maintained; general business and economic conditions; the Company’s ability to successfully execute its plans and intentions; the Company’s ability to obtain financing at reasonable terms though the sale of equity and/or debt commitments; the Company’s ability to attract and retain skilled staff; market competition; the products and technology offered by the Company’s competitors; that our current relationships with our suppliers, service providers and other third parties will be maintained; and the impact of the current global health crisis caused by the COVID-19 pandemic. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. Although Rubicon Organics has attempted to identify important risk factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other risk factors that cause actions, events or results to differ from those anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in forward-looking statements. Rubicon Organics assumes no obligation to update any forward-looking statement, even if new information becomes available as a result of future events, new information or for any other reason except as required by law.

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Published at Fri, 18 Sep 2020 11:05:26 +0000

Namaste Debuts “VendorLink” Cannabis Accessory Marketplace Platform

Namaste Debuts “VendorLink” Cannabis Accessory Marketplace Platform

Namaste Technologies Inc. (TSXV: N) (FRANKFURT: M5BQ) (OTCMKTS: NXTTF), a leading platform for cannabis products, accessories and education, announced today the launch of VendorLink, a proprietary marketplace platform for brands and vendors to upload and sell their cannabis accessory products to CannMart customers directly. The first brand to utilize VendorLink is Canada Puffin, a leading Canadian hardware company focused on premium handblown glass and natural maple pipes and accessories.

Namaste Technologies Inc. Logo (CNW Group/Namaste Technologies Inc.)

VendorLink allows brands and vendors to upload their product catalogue directly to CannMart.com, to be displayed alongside CannMart’s own accessory inventory. With an expanding national presence and a strong base of loyal repeat customers, CannMart is in a unique position to leverage its online real estate with like-minded industry partners looking to expand their reach and introduce a true marketplace experience in the cannabis accessory space. Brands and vendors interested in establishing a presence on CannMart.com and accelerating their growth using VendorLink can join the waiting list by visiting https://cannmart.com/sell-on-cannmart.

“Having been first conceived two years ago, we are thrilled to present VendorLink as the answer for cannabis accessory vendors large and small, looking to introduce their products to a fresh, Canada-wide audience through CannMart.com via a marketplace model,” said Meni Morim, CEO of Namaste Technologies. “Our debut partner, Canada Puffin, is the perfect brand to celebrate this launch with, as a dedicated proponent of both cannabis and Canadian culture.”

Determined to raise Canada’s national profile as a leader in the cannabis accessory movement, Canada Puffin is the first leading brand to work with CannMart and establish their own VendorLink marketplace presence.

“Namaste’s VendorLink offers a great way for Canada Puffin to introduce our premium accessories to a new audience of dedicated, cannabis-positive Canadians,” said Dale Falkenstein, CEO of Canada Puffin. “We look forward to expanding our presence through the Namaste network and are excited to be featured within this marketplace amongst some of the most notable brands in the industry.”

Canada Puffin’s glass accessories are thoughtfully designed as art pieces, intended to be proudly displayed. Made with authentic, natural Canadian Maple, each unique piece depicts elements of Canadian heritage and culture throughout.

About Canada Puffin
Canada Puffin is committed to creating an open and inviting culture in the ever changing smoking landscape. Through its unique product designs, quality and presentation, it strives to reshape the perception of cannabis and the community.  For more information please visit: https://canadapuffin.com/

About Namaste Technologies Inc.
Headquartered in Toronto, Canada, Namaste Technologies is a leading online platform for cannabis products, accessories, and responsible education. The Company’s ‘everything cannabis store’, CannMart.com, provides medical customers with a diverse selection of hand-selected products from a multitude of federally-licensed cultivators, all on one convenient site. The Company also distributes licensed and in-house branded cannabis and cannabis derived products to recreational consumers in Canada through a number of provincial government control boards and retailing bodies. Namaste’s global technology and continuous innovation address local needs in a burgeoning cannabis industry requiring smart solutions.

Information on the Company and its many products can be accessed through the links below:

NamasteTechnologies.com
NamasteMD.com
Cannmart.com

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 news release.

Cision

View original content to download multimedia:https://www.prnewswire.com/news-releases/namaste-debuts-vendorlink-cannabis-accessory-marketplace-platform-301133743.html

SOURCE Namaste Technologies Inc.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/September2020/18/c4232.html

Incite Capital Markets, Eric Negraeff / Darren Seed, Meni Morim, CEO, Namaste Technologies Inc., Ph: 604.493.2004, Email: ir@namastetechnologies.comCopyright CNW Group 2020

Published at Fri, 18 Sep 2020 12:04:00 +0000