Category Archives: Cannabis Legalization

Relevium Launches New Line of High-End Omega Fish Oils Targeting Inflammation, Heart and Vision

Relevium Launches New Line of High-End Omega Fish Oils Targeting Inflammation, Heart and Vision

Relevium Technologies Inc. (TSX.V:“RLV”, OTCQB:“RLLVF”), is pleased to announce that its OTC business has launched a new line of omega fish oils based formulations targeting inflammation, heart and vision care.

High End Omega Based Product Line

The Company has launched an initial two omega formulated products to support heart health and vision care: CardiaProtm and VisionProtm, leading the way to a complete line of scientifically formulated products targeting inflammation.

Inflammation, which is a process by which the body’s natural immune response seeks to protect us from infection with foreign organisms, such as bacteria and viruses. However, as a result of our environment and modern lifestyles, our immune response remains on a constant “state of alarm” leading to a constant state of immune response leading to inflammation and causing chronic conditions of pain, inflammation and dysfunction. Our new line of health products leverages the inflammation fighting benefits of the omega spectrum of fatty acids through exclusive targeted formulations to support specific health functions such as heart, vision and joints.

Subject to the positive adoption of cannabidiol as a health supplement by the FDA and complete clearance of the legal context in the US, the company’s OTC business plans to leverage the anti-inflammatory and pain reduction benefits of this cannabinoid, which is the center of much expectation from the Health and Wellbeing market.

Abis Hussain, CMO, stated: “We have started the process of shifting towards scientific based formulations, targeting niche and focused product offerings in high demand, such as is the case of inflammation,” Mr. Hussain stated further “Our Heart and Vision formulations will be sold primarily through social media and through some of our major market places. However, we are also pursuing a brick and click strategy thus extending our offering through health stores.”

Update on Push and Pulltm Anti-Aging System

Launched earlier this year, the Company’s Push and Pull Anti-Aging System, targeting the Hispanic market in North America, has been successfully deployed in the Puerto Rican market and the company plans to expand its target to South Florida, Texas, California and Mexico.

The company’s Direct Response Campaigns have been tested in several consumer segments and subject to its successful deployment in these Hispanic markets, it plans to open the product offering to other focused demographics in the US.

Aurelio Useche, CEO Stated: “Our entry into the highly competitive Anti-Ageing Market was a bold move by our team, which is why we focused on specific demographics and to understand their specific needs and shopping habits. The North American anti-aging market is estimated to be an $18 Billion business with a steady 5.2% CAGR growth, and our target is to play a niche role in the space.”

About Relevium Technologies

Relevium is a publicly-traded company that operates in the health and wellness industry, including legal cannabis, with a primary focus on online distribution. The principal business of the Company is the identification, evaluation, acquisition and operations of brands and businesses in the Health and Wellness markets and medical cannabis. The Company pursues its business strategy through an acquisition and partnership model in a holistic approach to encompass a wide range of health and wellness consumer products.

Relevium operates through two wholly-owned subsidiaries:

BGX E-Health LLC (BGX): Based in Orlando, Florida, BGX is our OTC business that markets dietary supplements, nutraceuticals, sports nutrition and cosmeceuticals primarily through its Bioganix® brand portfolio in the US and Europe. Relevium’s brands such as Bioganix® are sold at some of the world’s largest retailers including such as Walmart.com and Amazon.com.

Biocannabix Health Corporation (BCX): Based in Montreal, Quebec, BCX is an entrepreneurial venture to establish an integrated medical cannabis company in the Nutraceutical space targeting pediatric support in conjunction with traditional medical therapies.

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

Cautionary Note Regarding Forward-Looking Statements
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, assumptions or expectations of future performance, including the timing and completion of the proposed acquisitions, are forward-looking statements and contain forward-looking information. Generally, forward- looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or “occur”. Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this press release, including the assumptions that the Company will be able to apply for and ultimately obtain an ACMPR licence, the proposed business of Biocannabix will develop as anticipated, that the Company will raise sufficient funds to develop the Biocannabix business, and that the Company will obtain all requisite regulatory approvals. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Important factors that may cause actual results to vary, include, without limitation, the risk that the proposed business developments may not occur as planned; the timing and receipt of requisite approvals and failure to raise sufficient funds.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward- looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

On Behalf of the Board of Directors

RELEVIUM TECHNOLOGIES INC.

Aurelio Useche
President and CEO

For more information about this press release:

Tel: +1.888.528.8687

RELEVIUM TECHNOLOGIES INC
Email: investors@releviumcorp.com
Website: www.releviumtechnologies.com
Like us on Facebook
Follow us on Twitter
Follow us on LinkedIn

Primary Logo

Published at Fri, 24 May 2019 13:31:29 +0000

Medcolcanna Announces Commencement of Trading on the TSX Venture Exchange Under the Symbol MCCN and Other Corporate Matters

Medcolcanna Announces Commencement of Trading on the TSX Venture Exchange Under the Symbol MCCN and Other Corporate Matters

Medcolcanna Organics Inc. (TSX-V: MCCN) (“Medcolcanna” or the “Company”), a medical cannabis company operating in Colombia, is pleased to announce that its shares will begin trading on the TSX Venture Exchange (the “Exchange”) under the symbol “MCCN” today.

“This listing represents a significant step forward for us and demonstrates our ability to execute on our business plan designed to make Medcolcanna a global leader in the cultivation, production and distribution of quality medical cannabis and cannabis related products,” stated Felipe de la Vega, Medcolcanna’s CEO.

The Company is also pleased to announce that it has entered into an agreement for the purchase of Innovative CBD Products B.V. (“ICP”), a Netherlands-based company, from Harm Hids, a Dutch citizen and resident (“Seller”). ICP is the owner of various CBD formulations and related intellectual property with respect to the development of cannabis and cannabis by-products as it pertains to Crohn’s disease, insomnia and rectal inflammation.  Closing of the transaction is expected to occur by June 18, 2019.

TRANSACTION OVERVIEW

The Company has agreed to pay Mr. Hids US$900,000, payable in Medcolcanna shares at a deemed price of $0.25 per share, plus a royalty of 10% gross margin of products developed by ICP and sold by Medcolcanna, as more particularly described below. The foregoing is subject to approval by the Exchange.

The Seller will be paid the royalty for 10 years on the following formulations and does not include other current or future formulations:

  • Crohn’s formulation
  • Insomnia formulation
  • Oral Fast Crohn’s Disease formulation
  • Rectum Inflammation formulation
  • Super Endocannabinoid formulation
  • Systemic Cannabidiol formulation

In addition, Mr. Hids has agreed to join Medcolcanna and will be appointed Head of Product Development and European Business Development.  Mr. Hids formed ICP after his son was diagnosed with Crohn’s disease and traditional medicines were ineffective. Through research and experimentation, a protocol was developed that successfully treated his son’s condition allowing him to lead a normal and active life.  Mr. Hids continues to develop cannabis-based treatments for other diseases and conditions.

OPTION GRANT

Medcolcanna also announces that it has granted a total of 7,400,000 stock options to various directors, officers, consultants and employees at an exercise price of $0.40 per share, subject to adjustment and approval in accordance with Exchange policies. These options vest as to one third immediately and one third on the first and second anniversary of the date of grant, respectively.

ABOUT MEDCOLCANNA

Medcolcanna is a fully-licensed, integrated medical cannabis company based in Colombia. Led by a proven and successful management team, Medcolcanna has facilities in prime, optimal growing locations which strategically positions the Company to become a global leader in the medical cannabis market.

Medcolcanna employs state of the art organic agricultural technology and innovative pharmaceutical processes to produce high-quality products with the goal of enhancing customer well-being. The Company’s scalable production model ensures that they remain at the forefront of the medical cannabis industry.

If you would like to receive News Releases via e-mail as soon as they are published, please subscribe here: https://medcolcanna.com/contact-us/.

Additional information about Medcolcanna can be found on its web site at www.medcolcanna.com.

Investor Relations Contact:
Carrera 49b # 93-62
Bogotá, Colombia
Phone: +571 642-9113
Email: info@medcolcanna.com

Forward-Looking Statements

This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to: the terms and conditions of the purchase of ICP, the grant of stock options and anticipated regulatory approval thereof; as well as the receipt of all regulatory licenses required for the cultivation, production, domestic distribution and international export of cannabis and cannabis-related products; and the business and operations of Medcolcanna after the consummation of the purchase of ICP. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to general business, economic, competitive, political and social uncertainties; and the delay or failure to receive board, shareholder or regulatory approvals. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release.

Share

Share - Facebook


Share - Twitter

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 Thu, 23 May 2019 11:44:19 +0000

Atlas Blockchain Closes $10.1MM Total Financing for Proposed Acquisition of Israeli Cannabis Operation

Atlas Blockchain Closes $10.1MM Total Financing for Proposed Acquisition of Israeli Cannabis Operation

Atlas Blockchain Group Inc. (CSE: AKE) (OTCPINK: ATLEF) is pleased to announce that it has has closed a second tranche of its recently announced private placement, raising total gross proceeds of $10.1MM for the entire offering.

Darryl Jones, President of Isracann says, “We are extremely pleased to announce the successful close of our CAD$10.1 million financing efforts. The proceeds are a welcome addition to our already healthy cash position. Our strong balance sheet will propel our efforts to complete Isracann’s proposed Phase I facility of 230,000 square feet of cultivation area and we can look beyond the immediate plans in order to execute additional strategic goals. With the recently announced regulatory changes allowing product export from Israel, we look forward to rapidly building an enterprise aimed at both the domestic and underserved European consumer markets.”

The Company completed its final tranche of a non-brokered offering of subscription receipts of the Company (the “Subscription Receipts”) at $0.17 per Subscription Receipt for gross proceeds of $4.9 million (the “Offering”).

The Offering consists of subscription receipts of the Company (the “Subscription Receipts”) at $0.17 per Subscription Receipt (the “Offering”). Each Subscription Receipt entitles the holder to receive, upon satisfaction of certain escrow release conditions, and without payment of additional consideration, one unit in the capital of the Company (each, a “Unit”).  Each Unit will be comprised of one common share of Atlas (each, a “Atlas Share”) (pre-consolidation basis) and one Atlas Share purchase warrant (each, a “Warrant”) (pre-consolidation basis). Each Warrant will entitle the holder thereof to acquire one Atlas Share at $0.34 per Atlas Share for two years following the date of issuance. The Company received aggregate gross proceeds of approximately $10.1MM including gross proceeds from the first tranche closed on January 11, 2019.

The financing efforts are concurrent to a share exchange agreement to acquire all the issued and outstanding common shares of Isracann Biosciences Inc. in exchange for common shares of the Company. The acquisition of Isracann Biosciences Inc. is an arm’s length transaction and is expected to constitute a fundamental change under the policies of the Canadian Securities Exchange (the “CSE”). Upon the successful conclusion of the transaction, the resulting issuer has applied for and anticipates trading under the ticker symbol “IPOT”.

Isracann is operationally located in Israel and aims to embark on an industrial-scale cannabis farming enterprise targeting both domestic and international commercial opportunities. The venture holds rights to prime agricultural land with preexisting production permits equivalent to Canadian ACMPR cultivation licensing, where it anticipates building 230,000 square feet of cultivation area. Israel has been a leader in cannabis research for over 50 years and further enjoys extremely favorable climatic conditions, both of which strategically factor into premium product development opportunities. Proximally located to Europe’s undersupplied markets ideally situates Isracann with potential access to a consumer base, which based on population alone, is larger than the size of the USA and Canada combined.

All securities issued in connection with the Offering are subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities laws.

The Company will pay eligible finders a cash commission in the aggregate of $137,822.59 on the Offering upon satisfaction of certain escrow release conditions. In addition, 760,033 non-transferable broker’s warrants will also be issued to eligible finders to purchase an aggregate of 760,033 common shares of the Company.

The aggregate net proceeds from the Offering will be used to complete the acquisition of Isracann Biosciences Inc. and to provide general working capital.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. None of the securities to be issued pursuant to the Offering have been or will be registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and any securities issued pursuant to the Offering are anticipated to be issued in reliance upon available exemptions from such registration requirements pursuant to Rule 506(b) of Regulation D and/or Section 4(a)(2) of the U.S. Securities Act and applicable exemptions under state securities laws. In addition, the securities to be issued pursuant to the Offering under an exemption from the registration requirements of the U.S. Securities Act will be “restricted securities” as defined under Rule 144(a)(3) of the U.S. Securities Act and will contain the appropriate restrictive legend as required under the U.S. Securities Act. Any public offering of securities of Atlas to be made in the United States must be made by means of a prospectus containing detailed information about Atlas and management, as well as financial statements.

About Isracann Biosciences Inc.
Isracann is an Israeli-based cannabis company focused on becoming a premier cannabis producer offering low-cost production targeting undersupplied, major European marketplaces. Based in Israel’s agricultural sector, Isracann will leverage its development within the most experienced country in the world with respect to cannabis research. The Company has secured agreements with three (3) licensed Israeli companies for medicinal marijuana cultivation. For more information visit: www.isracann.com.

ON BEHALF OF THE BOARD OF DIRECTORS

“Charlie Kiser”

Charlie Kiser
Chief Executive Officer

The CSE does not accept responsibility for the adequacy or accuracy of this release.

All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ, materially from the Company’s expectations are disclosed in the Company’s documents filed from time to time with the Canadian Securities Exchange, the British Columbia Securities Commission, the Ontario Securities Commission, the Alberta Securities Commission, and the Alberta Securities Commission.

Contact
Atlas Blockchain Investor Relations
+1(604) 343-8661
info@atlasblockchaingroup.com
www.atlasblockchaingroup.com

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES

Share

Share - Facebook


Share - Twitter

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 Thu, 23 May 2019 11:46:57 +0000

Vapen MJ Ventures Welcomes Cannabis Industry Veteran, Matt Morgan

Vapen MJ Ventures Welcomes Cannabis Industry Veteran, Matt Morgan

Vapen MJ Ventures (VAPN.CN) (“Vapen MJ”) a fully integrated agricultural technology, services and property management company in the regulated cannabis industry, today named Matt Morgan , a recognized leader in the emerging cannabis industry with a decade of experience in leading firms to profitability, to Vapen MJ’s Board of Advisors. This appointment is expected to strengthen Vapen MJ’s deal flow and expand relevant relationships for Vapen MJ through his expansive network.

Mr. Morgan brings to Vapen MJ a significant background in the cannabis industry, with industry contacts, branding expertise and a strategic approach that will be of great benefit to Vapen MJ as it expands through continued partnering of our operational excellence and expansion of the “Vapen” brand on both a national and international footprint. Mr. Morgan is recognized as one of the cannabis industries leading business development, operational, and branding executives, having spent the past ten years building several substantial companies from start up to profitability.

Mr. Morgan co-founded Bloom Dispensaries in Phoenix, AZ. Within one year of operation, Bloom had over 100 employees and was generating revenues in excess of US$12 million annually. In 2017, Mr. Morgan founded and is the former CEO of Reef Dispensaries and grew it to almost $100 million in annual revenues. Today, Reef operates six retail locations, two manufacturing plants and two laboratories in Las Vegas, NV and Phoenix, AZ and has over 400 employees.

Thai Nguyen , founder and chief executive officer of Vapen MJ Ventures, commented, “Matt is a highly experienced professional in the emerging cannabis industry with deep and relevant expertise in leading rapidly growing organizations to profitability, and he will be an integral part of our Board of Advisors. We have known Matt for several years and he is a consummate professional, highly regarded by his peers in our industry and recognized throughout the United States and Canada for his exceptional vision and execution capabilities.”

Forward Looking Statements

Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in Vapen MJ’ periodic filings with Canadian securities regulators. When used in this news release, words such as “will, could, plan, estimate, expect, intend, may, potential, believe, should,” and similar expressions, are forward-looking statements.

Forward-looking statements may include, without limitation, statements related to future developments and the business and operations of Vapen MJ.

Although Vapen MJ has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to: dependence on obtaining regulatory approvals; are engaged in activities currently considered illegal under U.S. Federal laws; change in laws; reliance on management; requirements for additional financing; competition; hindering market growth and state adoption due to inconsistent public opinion and perception of the medical-use and adult-use marijuana industry and; regulatory or political change.

There can be no assurance that such information will prove to be accurate or that management’s expectations or estimates of future developments, circumstances or results will materialize. Because of these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events.

Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this release. Vapen MJ disclaims any intention or obligation to update or revise such information, except as required by applicable law, and Vapen MJ does not assume any liability for disclosure relating to any other company mentioned herein.

SOURCE Vapen MJ Ventures Corporation

Share

Share - Facebook


Share - Twitter

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 Tue, 21 May 2019 15:58:23 +0000

CB2 Insights Announces Ticker Symbol Change on OTCQB

CB2 Insights Announces Ticker Symbol Change on OTCQB

CB2 Insights (“CB2” or the “Company”) (CSE:CBII) (OTCQB:CBIIF) a leading technology company focused on mainstreaming medical cannabis to the healthcare industry through Real-World Evidence, today announced that effective immediately, its ticker symbol on the OTCQB Markets has changed from “CBTOF” to the symbol “CBIIF”. There is no action required by current shareholders in connection with this change.

The Company has also been listed on the Canadian Securities Exchange under the symbol “CBII” since March 6, 2019.

About CB2 Insights

CB2 Insights has a mission to mainstream medical cannabis into traditional healthcare. We do so by gathering data and creating objective real-world evidence through our proprietary software and service brands. Using clinical management and data collection software at the point-of-care, CB2 Insights and its group of sub-brands has become a leading force behind bringing traditional healthcare protocols to the rapidly evolving global cannabis industry.

For more information please visit www.cb2insights.com.

Primary Contact
Dan Thompson
1.416.670.9316
dan.thompson@cb2insights.com

For Investor Inquiries
Sophic Capital
1.647.362.8286
investors@cb2insights.com

For Media Inquiries:
KCSA Strategic Communications
cb2@kcsa.com

No securities regulator or exchange has reviewed, approved, disapproved, or accepts responsibility for the content of this news release.

Primary Logo

Published at Fri, 17 May 2019 12:04:31 +0000

Neptune Welcomes Martin Landry as Chief of Corporate Development & Strategy

Neptune Welcomes Martin Landry as Chief of Corporate Development & Strategy

Neptune Wellness Solutions Inc. (NASDAQ: NEPT) (TSX: NEPT) is pleased to announce the appointment of Martin Landry to the position of Chief of Corporate Development & Strategy. Mr. Landry will be joining the Company’s management team as of May 27, 2019.

Logo: Neptune Wellness Solutions Inc. (CNW Group/Neptune Wellness Solutions Inc.)

Martin Landry, CPA, CA has cumulated 20 years of experience in capital markets and accounting. Since 2013, Martin was at the forefront of the Canadian cannabis industry and witnessed its evolution firsthand. In his last position as Managing Director Equity Research at GMP Securities, he developed an extensive network in the cannabis industry. He is a seasoned investment professional and in 2018 and 2017, Martin ranked first amongst Canadian equity analysts for Small Cap/Special Situations research according to Brendan Wood International.

With the creation of this new pivotal position, Neptune takes a leap forward in the execution of its vision towards becoming a global leader in the offering of value added, differentiated science-based products for the legal cannabis and nutrition consumer product markets.

“We are extremely pleased to have Martin join our team as he takes on this new role as Chief of Corporate Development & Strategy. This appointment reflects our absolute commitment to having the best team to advance the Company’s strategic corporate initiatives. As a trusted professional with extensive knowledge of both the cannabis industry and consumer products, Martin will play a crucial role in developing and executing Neptune’s strategy to realize the Company’s growth ambition,” said Jim Hamilton, President and CEO of Neptune.

“I am joining Neptune at an exciting time to help drive the development and delivery of the Company’s strategic priorities. Also, I look forward to be part of a leadership team that will be dedicated to growing the business in the global marketplace and further leverage the great strides Neptune has already made in the health and wellness consumer product sector,” said Mr. Landry.

As Chief of Corporate Development & Strategy, Mr. Landry will oversee the development and implementation of Neptune’s corporate development strategy to help propel the Company’s leadership in its new growth trajectory, as well as certain key financial, and communication processes.

About Neptune Wellness Solutions Inc.
Neptune Wellness Solutions specializes in the extraction, purification and formulation of health and wellness products. Licensed by Health Canada to process cannabis at its 50,000-square-foot facility located in Sherbrooke, Quebec, Neptune brings decades of experience in the natural products sector to the legal cannabis industry. Leveraging its scientific and technological expertise, Neptune focuses on the development of value-added and differentiated products for the Canadian and global cannabis markets. Neptune’s activities also include the development and commercialization of turnkey nutrition solutions and patented ingredients such as MaxSimil®, and of a variety of marine and seed oils. Its head office is located in Laval, Quebec.

Forward-Looking Statements

Statements in this press release that are not statements of historical or current fact constitute “forward-looking statements” within the meaning of the U.S. securities laws and Canadian securities laws. Such forward-looking statements involve known and unknown risks, uncertainties, and other unknown factors that could cause the actual results of Neptune to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms “believes”, “belief”, “expects”, “intends”, “projects”, “anticipates”, “will”, “should” or “plans” to be uncertain and forward-looking. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Forward-looking information in this press release includes, but is not limited to, information or statements about our ability to successfully develop, produce, supply, promote or generate any revenue from the sale of any cannabis-based products in the legal cannabis market.

The forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement and the “Cautionary Note Regarding Forward-Looking Information” section contained in Neptune’s latest Annual Information Form (the “AIF”), which also forms part of Neptune’s latest annual report on Form 40-F, and which is available on SEDAR at www.sedar.com, on EDGAR at www.sec.gov/edgar.shtml and on the investor section of Neptune’s website at www.neptunecorp.com. All forward-looking statements in this press release are made as of the date of this press release. Neptune does not undertake to update any such forward-looking statements whether as a result of new information, future events or otherwise, except as required by law. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in Neptune public securities filings with the Securities and Exchange Commission and the Canadian securities commissions. Additional information about these assumptions and risks and uncertainties is contained in the AIF under “Risk Factors”.

Neither NASDAQ nor the Toronto Stock Exchange accepts responsibility for the adequacy or accuracy of this release.

Martin Landry (CNW Group/Neptune Wellness Solutions Inc.)

Cision

View original content to download multimedia:http://www.prnewswire.com/news-releases/neptune-welcomes-martin-landry-as-chief-of-corporate-development–strategy-300848578.html

SOURCE Neptune Wellness Solutions Inc.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2019/13/c8565.html

Investor Information: Canada, Pierre Boucher, MaisonBrison, 1.514.731.0000, pierre@maisonbrison.com; United States, Carolyn Capaccio / Jody Burfening, LHA, 1.212.838.3777, ccapaccio@lhai.com / jburfening@lhai.com; Media Requests: Sabrina Di Blasio, Neptune Wellness Solutions, 514.258.8183, s.diblasio@neptunecorp.comCopyright CNW Group 2019

Published at Mon, 13 May 2019 11:34:25 +0000

3 Ways To Play The Israeli Cannabis Sector

3 Ways To Play The Israeli Cannabis Sector

One of the most exciting opportunities for cannabis companies is related to the international cannabis market and this is a significant trend to be following. During the last year, we have been closely monitoring the international cannabis opportunity and Israel is a market that excites us.

Earlier this year, the Israeli government approved legislation that allows for the export of medical cannabis from Israel to countries that have explicitly approved the import of cannabis. The export market will be under the supervision of the Israeli authorities and would allow medical cannabis license holders that meet certain quality standards to export medical cannabis to specific markets.

One of the main reasons we are favorable on the Israeli cannabis opportunity is due to the country being a first mover the medical cannabis market as well as the economics associated with the cultivation of cannabis. For more than 50 years, Israel has been researching medical cannabis and we are favorable on the knowledge that the operators have when it comes to the medical opportunity associated with cannabis. In Israel, cultivators can produce premium cannabis for a couple cents per gram and we find the economics associated to be very attractive.

Isracann: An Emerging Israeli Cannabis Company

Last month, we highlighted Isracann which has been laser focused on the Israeli cannabis opportunity. The company is focused on becoming a premier, low-cost cannabis producer and has significant leverage to the Israeli cannabis market. Currently, Isracann has secured three farms with cultivation licenses totaling 580,000 sq. ft. and we will monitor how the team is able to execute on this opportunity.

So far this year, Isracann has been executing on a plan to further strengthen its balance sheet and fully fund the buildout of 232,900 sq. ft. of cultivation facilities that can produce approx. 23,500 kilograms of premium cannabis per year. One of the important aspects of this opportunity pertains to this facility and how it get licensed. The company’s facility is planned to be a IMC-GAP/GSP certified facility that will be constructed to meet all regulatory standards.

In Q1 2020, Isracann expects to complete its first harvest and plans to ramp up from there. The facility offers the company significant room to expand and we are favorable on this. We expect to see increasing demand for Israeli cannabis products and the focus on increasing production capacity is important for the company’s growth potential

2019 has been a significant year for the emerging cannabis company and we are impressed with how Isracann has advanced its story. One of the reasons we are excited about this opportunity is due to the recent additions to the management and advisory team. During the last year, the company has done a great job when it comes to making strategic additions to the team and we are monitoring how they execute going forward.

Cronos Group is Capitalizing on the Israeli Opportunity

Out of the Canadian Licensed Producers (LPs), Cronos Group (CRON.TO) (CRON) was a first mover on the Israeli medical cannabis market and we have been favorable on the growth opportunity associated with this burgeoning opportunity.

Last week, the Canadian cannabis producer announced plans to expand its research and development (R&D) program by opening a facility in Israel that will be focused on cannabinoid devices. The new facility is expected to support Cronos Group’s efforts to develop next-generation vaporizer products for cannabinoid applications. The facility will serve as the global center of Cronos’ R&D program for vaporizer devices and we will monitor how the team is able to execute on this opportunity.

In late 2017, Cronos Group entered the Israeli market and the company intends to export medical cannabis products from Cronos Israel once operations have commence. Through a relationship with Kibbutz Gan Shmuel the company is working on the production, distribution, and research of medical cannabis in Israel.

Through Cronos Israel, the companies will produce premium medical cannabis and manage the entire supply chain production process. We are favorable on the skills that both companies bring to the table and will monitor how Cronos is able to execute on this burgeoning cannabis market.

Tikun Olam is a Private Opportunity to be Watching

Tikun Olam is one of Israel’s leading suppliers of medical cannabis and has been operating under a license from Israel’s Ministry of Health since 2007. The company has a first move advantage on the Israeli market and is well positioned to capitalize on this opportunity. Over the next year, we expect to see the company’s domestic and international operations become even more significant and are excited about its growth prospects.

From plant to patient, Tikun Olam is a vertically integrated company and the founder of the world’s first professional cannabis nursing clinic. The company has been capitalizing on the United States legal cannabis market and Tikun Olam plans to continue to expand its presence in this burgeoning market.

From Florida to California, Tikun Olam has been able to build off its initial success in Delaware and we will monitor how the team continues to expand its reach. The company also has a significant presence in the international market and we are bullish on the growth prospects associated with this.

Tikun Olam is privately held and we think this is a company to watch as it continues to execute on its business plan and increase it leverage to the rapidly growing legal cannabis market. The company is levered to one of the fastest growing markets in the world and has amazing brand awareness. The recent focus on leading cannabis brands makes Tikun Olam and even more attractive opportunity and we will continue to monitor this opportunity.

Pursuant to an agreement between StoneBridge Partners LLC and Atlas Blockchain Group (AKE) on behalf of Isracann Biosciences we have been hired for a period of 180 days beginning December 9, 2018 and ending July 9, 2019 to publicly disseminate information about (AKE) including on the Website and other media including Facebook and Twitter. We are being paid $10,000 per month (AKE) for or were paid “ZERO” shares of unrestricted or restricted common shares. We own zero shares of (AKE), which we purchased in the open market. We plan to sell the “ZERO” shares of (AKE) 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 (AKE) in the open market at any time, including before, during or after the Website and Information, provide public dissemination of favorable Information.

Share

Share - Facebook


Share - Twitter

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 Fri, 10 May 2019 11:17:00 +0000

Halo Labs Reports Record Q1 2019 Revenue of US $8.7MM

Halo Labs Reports Record Q1 2019 Revenue of US $8.7MM

Halo Labs Inc. (“Halo” or the “Company”) (NEO: HALO, OTCQX: AGEEF, Germany: A9KN) today announced its financial and operational results for the first quarter ended March 31, 2019. Entry into the California market fueled significant growth as revenues these three months were $8,718,503 representing a 302% year on year increase (three months to March 31, 2018: $2,168,976).

To continue delivering improving results, HALO’s primary business objectives this year include:

  1. Finish California build out by launching 2nd Cathedral City Location thus increasing overall capacity for the state and adding the ability to deliver directly to dispensaries.
  2. Increase distribution of Gilt™ and Hush™ branded products into California dispensaries by selecting additional distribution partners for Central and Northern California.
  3. Focus on manufacturing and selling higher margin products like Dab Tabs™ Dablets and edibles in California and Nevada.
  4. Increase distribution in Nevada driven by additional sales force members. Improvement of Nevada margins though facility expansion to enable extraction of biomass to distillate.
  5. Continue to increase margins in Oregon with launch of additional innovative products including premium clear concentrates. Continued margin improvement at core manufacturing facility in Oregon with introduction of a customized ERP system.
  6. Continue international growth trajectory with launch of Lesotho facility.
  7. Build Out of a Southern Oregon Hemp Processing Facility to manufacture bulk CBD distillates and isolates.

Q1 2019 Financial and Operational Highlights

  • Revenues in the three months ending March 31, 2019 were $8,718,503 (three months to March 31, 2018: $2,168,976), a 302% year on year increase, explained by first time contributions from Coastal Harvest, LLC (“Coastal Harvest”) (California operations) and HLO Ventures (NV), LLC (“HLO”) (Nevada operations) and a 32.8% increase in revenues at ANM, Inc. (“ANM”) in Oregon.
  • ANM revenues were US$2,879,769 in the three months ending March 31, 2019 in comparison with US$2,168,976 in 2018. HLO generated revenues of $514,365 and Coastal Harvest $5,324,369.
  • Cost of goods sold were $6,273,930 (three months ending March 31, 2018: $2,183,569) following the increase in revenues and consequently an increase in the cost of goods sold. Gross margin was 28% before unrealized loss on growth of biological assets in the three months ending March 31, 2019 (three months ending March 31, 2018: -1%). ANM achieved a gross margin of 8.0%, Coastal Harvest achieved a gross margin of 39.7% and HLO achieved a gross margin of 3.9% in the three months ending March 31, 2019.
  • Margins benefited from an efficiency drive that was implemented at the end of 2018. Labor included in the cost of goods sold represented 8.7% of revenues (three months ending March 31, 2018: 17.8%), a substantial improvement. Testing represented 1.5% of revenues (three months ending March 31, 2018: 8.2%), again a strong improvement.
  • Coastal achieved EBITDA of US $1,865,542, offsetting the operating loss at ANM of US$(618,400) and US $(299,371) at HLO and US $18,511 expenses at Ireland (the second planned Cathedral City facility). The total contribution to EBITDA from operations was $929,260.
  • The cash used for operations was US$2,057,852, and for capex was US$347,121.
  • The Company raised bridge financing of US$1.7 million in the three months ending March 31, 2019, and cash at the end of March 31, 2019, was US$361,053.

Management Discussions

  • Net revenues of $8,718,503 represent a 302% year on year increase compared to the same period ended in 2018 ($2,168,976), driven by Halo’s improving performance and expansion into the California and Nevada markets. Net revenues represent ~ 190% quarter on quarter increase. Each month in Q1 Halo delivered improving monthly growth.
  • The increase in revenues is explained by a 280% increase in grams of oil sold and a 6% increase in average achieved price in comparison with the three months ending March 31, 2018. Oregon alone experienced an increase in grams sold (28%) and price increase (4%).
  • The facility in Oregon produced 296,137 grams of oil. After commencing only in November 2018, the facility in California produced 296,283 grams of distillate and 268,709 grams of live resin this quarter. The facility in Nevada sold 17,681 grams of oil.
  • Gross margin was temporarily deflated in Nevada Q1 due to high inventory costs of oil as a result of FIFO inventory accounting. Distillate is now being sourced for less and will by the end of Q2 result in normalized margins in Nevada and a further increase in gross margin.

Outlook

California continues to be the driving force behind Halo’s revenue growth. With the implementation of new, proprietary products (e.g. DabTab™ Dablets) as well as implementing existing contracts, the Company is now operating at an annualized production rate of approximately $25MM USD, which is in line with Halo’s previous guidance.

Halo expects to release updates on new distributor agreements to increase distribution of bulk and branded products further fueling success in the California market. Halo has already signed bulk supply agreements with Falcon and Ilanka Farms (formerly Cannus Partners).

Consistent with prior guidance, the Company launched and is on pace to introduce higher margin Oregon product offerings into the Nevada and California markets by the end of Q2 2019.

Edibles

Halo launched a line of cannabis edibles products in Oregon in November of 2018, featuring single piece chews and a syrup-based drink.

DabTabs™ Dablets

On February 26, 2019, Halo launched DabTabs™ Dablets in both Oregon and Nevada followed by California in late March 2019. DabTabs™ are proprietary ceramic discs that store a pre-measured single dose of either cannabis concentrate or oil. The DabTabs™ provide a cleaner, smoother, mess free way to consume full spectrum cannabis oils and concentrates that capture the full benefits of the cannabis plant. DabTabs™ were launched under Halo’s brand, Gilt™.

DabTabs GO™

On May 6, 2019, the Company announced the launch of the DabTabs Go™, the first and only ultra-portable vaporizer for DabTabs™ Dablets. DabTabs Go™ provides quick, consistent and controlled heating, assuring consumers a full-spectrum, vaporization experience with DabTabs Dablets. Halo expects the DabTabs Go™ to be available under the Company’s Gilt™ brand and available throughout California, Nevada and Oregon in July 2019.

Initiation of CBD Business

As the cannabis market throughout the United States continues to mature, Halo is establishing itself in complimentary markets directly related to the industry. On April 15, 2019, the Company announced its intent to secure a hemp processing facility to manufacture CBD isolates and distillates, capitalizing on the CBD market which according to the Brightfield Group is projected to grow at a CAGR of 147% and projected to reach US$22 billion by 2022. This processing facility is expected to be located in Southern Oregon in the Emerald Triangle. The facility is expected to be capable of processing approximately 10,000 kilograms of hemp per month, which is expected to result in a yield of between 700 – 900 kg of high-grade distillate or isolate.

Capital Markets Activities

Halo is now trading on multiple exchanges including a recent up listing to the OTCQX. Halo is part of the Horizon US Marijuana ETF (HMUS for Canada and HMUS.U for the United States).

Neo Exchange Inc. (“NEO”) Listing

On October 3, 2018, the Company commenced trading on the Aequitas Neo Exchange Inc., becoming a public company that is traded on the equities markets in Canada.

OTCQB Market Listing

On February 22, 2019, Halo commenced trading on the OTCQB Market under the ticker symbol “AGEEF”, opening the Company up to a broader investor base throughout North America.

QTCQX Market Listing

On April 30th, 2019, Halo up listed from the OTCQB Market to the OTCQX Market, the highest tier market that the OTC offers.

Conference Call

Investors can call in and Q&A with Kiranjit Sidhu the Chief Executive Officer and Katharyn Field the Chief Strategy Officer at 4pm EST on May 10, 2019:

Participant Toll Free Dial-In Number: (866) 211-3166
Participant International Dial-In Number: (647) 689-6581
Conference ID: 5929655

ABOUT HALO LABS

Halo is a cannabis extraction company that develops and manufactures quality cannabis oils and concentrates, which are the fastest growing segments in the cannabis industry. Halo has expertise in all major cannabis manufacturing processes, leveraging proprietary processes and products, and has produced over 3.5M grams of oils and concentrates since inception. The forward-thinking company is led by a strong management team with deep industry knowledge and blue-chip experience. The Company is currently operating in California and Oregon as well as Nevada with our partner Just Quality. The Company has also begun operations in Lesotho Africa through a strategic partnership. With a consumer-centric focus, Halo will continue to market innovative branded and private label products across multiple product categories.

For further information regarding Halo, see Halo’s disclosure documents on SEDAR at www.sedar.com.

Cautionary Note Regarding Forward-Looking Information and Statements

This press release contains certain “forward-looking information” within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only Halo’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Halo’s control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”. The forward-looking information and forward-looking statements contained herein may include, but is not limited to, the Company’s primary business objectives for the upcoming year, the expectation to provide updates on new distributor agreements, expected increases to the Company’s margin and the timing thereof, the expectation that DabTabs Go™ will be available under the Company’s Gilt™ brand and available throughout California, Nevada and Oregon in July 2019, the projected growth rate of the CBD market, the expected size of the CBD market in 2022 and the location, completion and production of a hemp processing facility.

By identifying such information and statements in this manner, Halo is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Halo to be materially different from those expressed or implied by such information and statements. In addition, in connection with the forward-looking information and forward-looking statements contained in this press release, Halo has made certain assumptions.

Among others, the key factors that could cause actual results to differ materially from those projected in the forward-looking information and statements are the following: unexpected delays or expenses in connection with Halo’s operations, adverse changes to the CBD market, adverse changes in applicable laws; changes in general economic, business and political conditions, including changes in the financial markets and the other risks disclosed in the most recent annual information form. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.

Although Halo believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. Key assumptions used herein include, without limitation, that there will be no unexpected delays or costs in connection with the Company’s Cathedral City build out, the Company will be able to identify and negotiate agreements with suitable distribution partners, management’s expectations regarding sales of new products will be realized, the introduction o f a n ERP system and the securing of raw materials will deliver improved margins, a n increased sales force in Nevada will be able to increase distribution effectively, the Company will not encounter any unexpected costs or delays in the completion of a CBD manufacturing facility, the Company’s intended CBD manufacturing facility will be able to achieve production levels currently estimated by management and the Company will be able to identify a suitable location for a CBD manufacturing facility in the Emerald Triangle. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and Halo does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to Halo or persons acting on its behalf is expressly qualified in its entirety by this notice.

Published at Fri, 10 May 2019 13:19:07 +0000

Aleafia Health Announces Largest Adult Use Order To Date

Aleafia Health Announces Largest Adult Use Order To Date

Aleafia Health Inc. (TSX: ALEF, OTC: ALEAF, FRA: ARAH) has completed the largest adult-use cannabis order in the Company’s history today. The Order is scheduled to depart from the Company’s facility today, with delivery to a Canadian provincial government for distribution to online and retail consumers. It will contain the Company’s branded Symbl oils, oral sprays and dried flower products.

The value of the Order is expected to generate proceeds from the sale of cannabis exceeding $0.7 million. In the first 38 days of Q2 2019, including the revenue to be obtained from the Order, the Company has received adult-use cannabis product orders from three Canadian provincial governments of over $1.2 million in gross revenue, representing significant growth when compared to the sale of cannabis revenues generated during 2018. Previously, in its 2018 audited financial statements, Aleafia Health recognized revenues from the sale of cannabis of $0.6 million, derived exclusively from wholesale transactions of dried flower to a Licensed Producer.

“We are extremely pleased to report the largest ever cannabis sale in our Company’s history,” said Aleafia Health CEO Geoffrey Benic. “Furthermore, with our Niagara Greenhouse and Outdoor Grow expansion in a plant-ready state, the assets are now in place to scale our cannabis health and wellness vision exponentially and build on today’s results.”

Company Welcomes Health Canada’s Changes to Cannabis Licensing

Aleafia Health is also providing comment on changes to cannabis licensing announced by Health Canada on May 8, 2019.

“Aleafia Health welcomes Health Canada’s changes to cannabis licensing announced yesterday. These changes will alleviate product shortages and application backlogs, while spurring job creation in local communities as more completed facilities become operational. We fully support these measures,” said Aleafia Health CEO Geoffrey Benic. “Additionally, by increasing supply, Health Canada will make continued progress towards eliminating the black market for cannabis, which is an important policy objective of federal and provincial governments and all responsible stakeholders.”

For Investor and Media Relations, please contact:

Nicholas Bergamini, VP, Public Affairs
416-860-5665
IR@AleafiaHealth.com
LEARN MORE: www.AleafiaHealth.com

About Aleafia Health:

Aleafia Health is a leading, vertically integrated cannabis health and wellness company with four primary business units: Cannabis Cultivation & Products, Health & Wellness Clinics, Cannabis Education, and Consumer Experience with ecommerce, retail distribution and provincial supply agreements.

Aleafia Health owns three major cannabis product & cultivation facilities, two of which are licensed and operational. 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.

Aleafia Health maintains a medical cannabis dataset with over 10 million data points to inform proprietary illness specific product development and treatment best practices. The Company is committed to creating sustainable shareholder value and has been named the 2019 top performing company of the year by the TSX Venture Exchange prior to graduation to the TSX.

Forward Looking Information

This press release contains forward-looking statements and information within the meaning of applicable Canada and United States securities laws that are based on the beliefs of management and reflect the Company’s current expectations. When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information.

The forward-looking statements and information in this press release includes information relating to the expected shipment of Aleafia Health cannabis products, payment for the Order, the revenues actually received from the shipment of the products and the products passing standard quality assurance testing. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made, and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.

Share

Share - Facebook


Share - Twitter

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 Thu, 09 May 2019 12:29:36 +0000

TerrAscend to be the First and Only Cannabis Company with Sales in the US, Canada, and Europe

TerrAscend to be the First and Only Cannabis Company with Sales in the US, Canada, and Europe

TerrAscend Corp. (CSE: TER; OTCQX: TRSSF) today announced that its manufacturing facility in Mississauga, Ontario, Canada has been issued a Good Manufacturing Practice (“GMP”) certificate in accordance with the rules governing medicinal products in the European Union (“EU”). The EU GMP certification was awarded by the responsible agency, Arzneimittelbehörde, in North Rhine-Westphalia, Germany. Additionally, the Company has entered a comprehensive sales and distribution agreement with iuvo Therapeutics GmbH (“iuvo”), a German pharmaceutical wholesaler with a cannabis-specific import and distribution license. TerrAscend expects to begin distribution through iuvo this quarter.

www.TerrAscend.com (CNW Group/TerrAscend)

“Just five months ago, TerrAscend became the first North American Operator (NAO), with scale operations in both Canada and the US. Upon commencement of shipments this quarter, through our partner iuvo in Germany, TerrAscend will be the first and only global cannabis operator with sales in the three largest markets in the world,” said Dr. Michael Nashat, CEO of TerrAscend. “We will continue to expand our sales footprint going forward and will share news of these milestones as we achieve them.”

EU GMP standards for pharmaceuticals are among the most rigorous in the world, demanding the highest levels of quality assurance and product consistency. Following a pre-audit review by Cannabis Compliance Inc., a comprehensive inspection was conducted over a 4-day period by government officials from the responsible agency at the Company’s 67,300 sq. ft. facility in Mississauga.

There are medical cannabis supply deficiencies throughout the EU resulting from the limited number of cannabis producers that have been issued EU GMP certificates. Together, TerrAscend and iuvo are in a unique position to ensure patients in the EU receive the quality medicine they require.

Jonathan Lubosch-Haenisch, Managing Director at iuvo, said, “After an extensive compliance assurance procedure, we are thrilled to announce and commence the importation of pharmaceutical-grade cannabis products into Germany. We very much look forward to being able to help patients and inform stakeholders on the value of cannabinoid therapies. We would like to thank the TerrAscend team and all other stakeholders for their support to achieve this significant milestone.”

About TerrAscend
TerrAscend provides quality products, brands, and services to the global cannabinoid market. The Company participates in the medical and legal adult use market in Canada and in US states where cannabis has been legalized for therapeutic or adult use. TerrAscend operates a number of synergistic businesses, including Arise Bioscience Inc., a manufacturer and distributor of hemp-derived products; Ascendant Laboratories Inc., a biotechnology and licensing company committed to the continuous improvement of cannabinoid expressing plants; and Solace RX Inc., a proposed Drug Preparation Premises (DPP) focused on the development of novel formulations and delivery forms.

About iuvo
iuvo Therapeutics GmbH is a pharmaceutical wholesaler with a cannabis specific import and narcotics distribution license in adherence with EU GMP & GDP standards. With a focus on patient well-being and quality assurance, iuvo aims to act as bridging partner between international licensed producers and pharmacies in the EU.

Caution Regarding Cannabis Operations in the United States
Investors should note that there are significant legal restrictions and regulations that govern the cannabis industry in the United States.  Cannabis remains a Schedule I drug under the US Controlled Substances Act, making it illegal under federal law in the United States to cultivate, distribute or possess cannabis in the United States.  Furthermore, financial transactions involving proceeds generated by, or intended to promote, cannabis-related business activities in the United States may form the basis for prosecution under applicable US federal money laundering legislation.

While the approach to enforcement of such laws by the federal government in the United States has trended toward non-enforcement against individuals and businesses that comply with medical or adult-use cannabis programs in states where such programs are legal, strict compliance with state laws with respect to cannabis will neither absolve TerrAscend of liability under US federal law, nor will it provide a defense to any federal proceeding which may be brought against TerrAscend.  Following any investment made by TerrAscend in operations in the United States, enforcement of federal laws in the United States will be a significant risk to the business of TerrAscend and any proceedings brought against TerrAscend thereunder may adversely affect TerrAscend’s operations and financial performance.

Forward Looking Information
This release contains “forward-looking information” within the meaning of applicable securities laws. Particularly, information regarding expectations of future results, targets, performance achievements, prospects or opportunities is forward-looking information. Forward-looking statements in this press release may be identified by the use of words such as, “may”, “would”, “could”, “will”, “likely”, “expect”, “anticipate”, “believe, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook” and other similar expressions, and include statements with respect to the completion of the transactions discussed herein and the anticipated benefits thereof. Forward looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors relevant in the circumstances, including assumptions in respect of current and future market conditions, the current and future regulatory environment; and the availability of licenses, approvals and permits.

Although TerrAscend believes that the expectations and assumptions on which such forward looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because TerrAscend can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking statements are subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking statements. Such risks and uncertainties include, but are not limited to, the inability of the parties to satisfy the conditions to closing set out in the definitive documentation in a timely manner or at all; risks related to federal, state, provincial, territorial, local and foreign government laws, rules and regulations, including federal and state laws in the United States relating to cannabis operations in the United States; TerrAscend’s ability to successfully integrate any acquired businesses in the future; and fluctuations in foreign currency exchange rate.

The statements in this press release are made as of the date of this release. TerrAscend disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws. TerrAscend undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of TerrAscend, its securities, or financial or operating results (as applicable).

Cision

View original content to download multimedia:http://www.prnewswire.com/news-releases/terrascend-to-be-the-first-and-only-cannabis-company-with-sales-in-the-us-canada-and-europe-300842477.html

SOURCE TerrAscend

Published at Thu, 02 May 2019 11:07:48 +0000