HTC Announces Acquisition of California-Based Kase Farma Inc.

HTC Announces Acquisition of California-Based Kase Farma Inc.

REGINA, Saskatchewan, Nov. 22, 2019 (GLOBE NEWSWIRE) — via NetworkWire — PRESS RELEASE — HTC Extraction Systems has announced that it has entered into a share and purchase agreement dated Nov. 21, 2019 with Starling Brands Inc., a party at arm’s length to HTC. Pursuant to the SPA, HTC will acquire all the issued and outstanding shares of Kase Farma Inc., a subsidiary of Starling, and upon completion of the acquisition, Kase Farma will be a wholly owned subsidiary of HTC.

Kase Farma is authorized to operate in the areas of hemp cultivation, extraction, refining, formulation and distribution in the State of California. Kase Farma continually strives to deliver health and wellness benefits of CBD, CBG, CBN and other cannabinoids via the production of high-quality, premium hemp products through best of class methods while sustaining an unrelenting commitment to people, community and the environment.

An intrinsic part of the transaction is a management services agreement with Starling, led by Mike Reynolds, chief executive officer, and Drew Ford, chief science officer, both of whom are highly regarded experts in the cannabinoid extraction, formulation and refining world. The combination of their expertise and leadership is integral to driving the success of this transaction.

“On behalf of Starling, we are extremely excited to integrate our experience, know how and pedigree with HTC’s technologies and pedigree to further the vision and execution as global leaders in the science and production of the highest quality cannabinoid extractions and formulations,” Reynolds said. “The benefits that will be provided to the global community are consistent with the irreversible momentum of changing perceptions and acceptance of the planet’s most useful and beneficial plant.”

Pursuant to the SPA, HTC will acquire the purchased shares in exchange for US$900,000 in cash and the issuance of 8,000,000 units of HTC and 2,000,000 bonus units of HTC. Each unit will consist of one common share and one half of one common share purchase warrant of HTC. Each warrant shall be exercisable to acquire one common share at a price of C$0.70 for a period of 36 months from the completion of the transaction. Each bonus unit will consist of one common share and one half of one common share bonus purchase warrant of HTC. Each bonus warrant shall be exercisable to acquire one common share at a price of C$1.00 for a period of 36 months from the completion of the transaction. In addition, the units and bonus units shall be subject to legends restricting their transfer and which will provide that: (i) one-third of the compensation units shall become freely tradeable on the date that is 12 months following the completion of the transaction; (ii) one-third of the compensation units shall become freely tradeable on the date that is 18 months following the completion of the transaction; and (iii) one-third of the compensation units shall become freely tradeable on the date that is 24 months following the completion of the transaction.

In December, Kase Farma, will receive and commission equipment that’s able to process and distill 12,000 lbs. per day of dried biomass at its “IPElite Extraction” operation in California. Kase Farma’s “IPElite Extraction” operations are part of the vendor-owned 22,000-square-foot overall facility and will process 12,000 lbs. per day of dried biomass; which, at an 8% CBD yield, will have the capability of producing, 435,000 grams daily of CBD, delivering highest quality, saleable CBD to the wholesale market with gross revenue potential of approximately $1.4 million USD per day.

Kase Farma also intends to build a 20,000-square-foot facility in the fall of 2020, which will have the capability to extract, refine, and formulate cannabinoids for an additional 50,000 lbs. per day of dried biomass capacity for HTC’s emerging global food and drink CBD ingredient market.

Kase Farma has launched its Identity Preserved, or IPGrow, initiative, with the intention of providing the consumer with full transparency as to where their products have come from and how they were produced, bringing accountability and verified quality to the cannabinoid industry. Kase Farma has aligned itself with highly regarded hemp growers in California’s Central Valley who will provide up to 15,000 acres of high performance, IPGrow, superior, genetic specific production for its custom designed cannabinoid formulations.

Kase Farma will continue to build on its pedigree, quality and industry recognized expertise through a partnership with Kase Manufacturing Inc., a Ceres, California-based wholly owned subsidiary of Starling. Kase Manufacturing is driven by quality, integrity and innovation, managed by a world-class team of experts with over 50 years of combined experience, and will integrate this experience to help accelerate the growth and success of Kase Farma and HTC. Kase Manufacturing is one of the first volatile and non-volatile cannabinoid extraction manufacturing labs approved in the State of California. Kase Manufacturing utilizes the highest-quality extraction and refining equipment and laboratory tools available today and is operated by an award-winning team of extractors and formulators, who consistently produce industry best cannabinoid oils and distillate.

Kase Manufacturing, under Starling Brands, is licensed to operate in the areas of cannabis extraction, refining, formulation and distribution in the State of California. As part of the Transaction, Kase Farma will enter into an intellectual property licensing agreement with Starling that will allow for a technology transfer whereby intellectual property and technology licensed under this agreement will be utilized and deployed in HTC’s Canadian facility.

Reynolds has spent the last 10 years building political, business and community alliances in the cities of Ceres and Modesto, California. His involvement in cannabinoids began after his son, Kase, was diagnosed with epilepsy at the age of four months. Mike then formed a partnership with Jason David whose son also suffered from epilepsy, which gave a new impetus to the development and success of the Jayden’s Juice product offer, a cannabinoid-rich tincture, manufactured by Kase Manufacturing.

Reynolds directed the planning, design, construction, licensing, and staffing of Kase Manufacturing, one of the first cannabinoid manufacturing labs approved for operations in the State of California. His hands-on experience as a pioneering developer of medicinal cannabinoid products gives him the foresight that will allow Kase Farma to adapt quickly to changes in the hemp CBD, CBG and CBN marketplace. His relationship with the City of Ceres and experience as a parent of a child whose life was transformed by medicinal cannabinoids are invaluable to Kase Farma’s success.

Drew Ford has previously worked as a chemical engineer in the reverse osmosis desalination industry, working in research and development and chemical purification before making the switch to the cannabinoid space. Ford’s experience and passion for chemical purification and refinement brought him to the cannabinoid market. He was a key member of the team that developed the first vacuum distillation process equipment for cannabinoid oil and has optimized and redefined the standard of “potency” and “efficacy.” Many of the wiped film refining systems today being offered by equipment OEMs enshrined Ford’s significant experience in vacuum distillation product enhancement.

The transaction remains subject to customary closing conditions, including approval of the TSX Venture Exchange and is expected to be completed in December of this year.

Published at Fri, 22 Nov 2019 16:31:00 +0000

Tax-Loss Selling: One Last Bitter Pill For Cannabis Investors

Tax-Loss Selling: One Last Bitter Pill For Cannabis Investors

It’s always darkest before the dawn.

This melodramatic tautology originated in the 17th century. It has been popularized as a cliché for its psychological value.

It is just before the first rays of dawn when we have endured the darkness for the longest time. It’s a concept that has obvious relevance to markets – and investors.

It is generally at the very end of a bear market that we see “capitulation”: one last flushing of weak hands. The emerging cannabis sector has retreated to greater than two-year lows, completely defying rationality, even as the S&P 500 hits a new bubble-high.

With strong revenue growth and extremely bullish fundamentals, especially in Canada, a reversal is coming – as rising profitability in Canada’s cannabis industry collides with collapsing multiples.

Already, Canadian cannabis retail leader National Access Cannabis (CAN:META / US:NACNF) is trading at less than half current revenues. The Company reported CAD$61 million in revenues in its latest quarter. Its current market cap is an absurd CAD$29 million. National Access is also reporting strong gross margins (32%) and positive EBITDA.

Canada’s extraction leaders have transitioned to full profitability. MediPharm Labs (CAN: LABS / US:MEDIF) just reported its second consecutive quarter of positive net income.

Retail cannabis stores have (finally) reached a critical mass with over 700 cannabis stores across Canada. Store-openings are now accelerating. Cannabis 2.0 brings a vast array of new products and a 50% increase in the consumer base.

However, before all these strong, positive fundamentals drive cannabis valuations higher, there is one final “bitter pill” that investors (and cannabis companies) need to endure. Tax-loss selling.

In many ways, this is the bane of all long investors – even for those doing the selling. Locking in losses can be useful for offsetting capital gains. However, what is even more “useful” is for investors to avoid such losses.

Tax-loss selling is the choice to abandon hope of breaking even or turning a profit on a particular investment.

The sad irony is that it tends to be companies that have already fallen the longest/hardest that are then subjected to the most tax-loss selling. That’s true even if the underlying business remains strong. There is much less inducement for tax-loss selling for holdings that aren’t as far ‘underwater’.

With many individual cannabis companies having seen brutal selloffs, these companies are now prime candidates for end-of-year tax-loss selling.

This means that over the very near term, there will likely be even more weakness across most of the sector. But (as the opening cliché observed) it is an unavoidable reality. It will almost certainly get a little “darker” in the battered cannabis sector.

The flip-side of this is that many cannabis stocks that are already insanely cheap may still get cheaper.

This begs the question: should cannabis bulls hold off on taking advantage of extremely low valuations (now) in the hope they will go still lower?

There are still six weeks to go in 2019. During the last six weeks of 2017, the entire sector doubled.

The spike in 2018 started in the second half of summer. The last spike in cannabis stocks started (literally) the first trading day after Christmas.

Obviously, market dynamics are much, much weaker today. But industry fundamentals are much, much stronger (especially in Canada).

Because of this, many prudent investors may choose to adopt a hybrid strategy with respect to investing in cannabis stocks.

They will add to their favorite companies now, so that the train doesn’t leave the station without them. But they will “keep some powder dry” as we move into the beginning of 2020.

The brutal (and artificial) trough in cannabis stocks cannot continue. However, it’s still premature for investors to go all-in in their cannabis investing.

DISCLOSURE: The writer holds shares of MediPharm Labs.

Published at Fri, 22 Nov 2019 20:31:33 +0000

House Committee Approves Bill to End Federal Cannabis Prohibition, Michigan Issues First Adult-Use Cannabis Licenses: Week in Review

House Committee Approves Bill to End Federal Cannabis Prohibition, Michigan Issues First Adult-Use Cannabis Licenses: Week in Review

REGINA, Saskatchewan, Nov. 22, 2019 (GLOBE NEWSWIRE) — via NetworkWire — PRESS RELEASE — HTC Extraction Systems has announced that it has entered into a share and purchase agreement dated Nov. 21, 2019 with Starling Brands Inc., a party at arm’s length to HTC. Pursuant to the SPA, HTC will acquire all the issued and outstanding shares of Kase Farma Inc., a subsidiary of Starling, and upon completion of the acquisition, Kase Farma will be a wholly owned subsidiary of HTC.

Kase Farma is authorized to operate in the areas of hemp cultivation, extraction, refining, formulation and distribution in the State of California. Kase Farma continually strives to deliver health and wellness benefits of CBD, CBG, CBN and other cannabinoids via the production of high-quality, premium hemp products through best of class methods while sustaining an unrelenting commitment to people, community and the environment.

An intrinsic part of the transaction is a management services agreement with Starling, led by Mike Reynolds, chief executive officer, and Drew Ford, chief science officer, both of whom are highly regarded experts in the cannabinoid extraction, formulation and refining world. The combination of their expertise and leadership is integral to driving the success of this transaction.

“On behalf of Starling, we are extremely excited to integrate our experience, know how and pedigree with HTC’s technologies and pedigree to further the vision and execution as global leaders in the science and production of the highest quality cannabinoid extractions and formulations,” Reynolds said. “The benefits that will be provided to the global community are consistent with the irreversible momentum of changing perceptions and acceptance of the planet’s most useful and beneficial plant.”

Pursuant to the SPA, HTC will acquire the purchased shares in exchange for US$900,000 in cash and the issuance of 8,000,000 units of HTC and 2,000,000 bonus units of HTC. Each unit will consist of one common share and one half of one common share purchase warrant of HTC. Each warrant shall be exercisable to acquire one common share at a price of C$0.70 for a period of 36 months from the completion of the transaction. Each bonus unit will consist of one common share and one half of one common share bonus purchase warrant of HTC. Each bonus warrant shall be exercisable to acquire one common share at a price of C$1.00 for a period of 36 months from the completion of the transaction. In addition, the units and bonus units shall be subject to legends restricting their transfer and which will provide that: (i) one-third of the compensation units shall become freely tradeable on the date that is 12 months following the completion of the transaction; (ii) one-third of the compensation units shall become freely tradeable on the date that is 18 months following the completion of the transaction; and (iii) one-third of the compensation units shall become freely tradeable on the date that is 24 months following the completion of the transaction.

In December, Kase Farma, will receive and commission equipment that’s able to process and distill 12,000 lbs. per day of dried biomass at its “IPElite Extraction” operation in California. Kase Farma’s “IPElite Extraction” operations are part of the vendor-owned 22,000-square-foot overall facility and will process 12,000 lbs. per day of dried biomass; which, at an 8% CBD yield, will have the capability of producing, 435,000 grams daily of CBD, delivering highest quality, saleable CBD to the wholesale market with gross revenue potential of approximately $1.4 million USD per day.

Kase Farma also intends to build a 20,000-square-foot facility in the fall of 2020, which will have the capability to extract, refine, and formulate cannabinoids for an additional 50,000 lbs. per day of dried biomass capacity for HTC’s emerging global food and drink CBD ingredient market.

Kase Farma has launched its Identity Preserved, or IPGrow, initiative, with the intention of providing the consumer with full transparency as to where their products have come from and how they were produced, bringing accountability and verified quality to the cannabinoid industry. Kase Farma has aligned itself with highly regarded hemp growers in California’s Central Valley who will provide up to 15,000 acres of high performance, IPGrow, superior, genetic specific production for its custom designed cannabinoid formulations.

Kase Farma will continue to build on its pedigree, quality and industry recognized expertise through a partnership with Kase Manufacturing Inc., a Ceres, California-based wholly owned subsidiary of Starling. Kase Manufacturing is driven by quality, integrity and innovation, managed by a world-class team of experts with over 50 years of combined experience, and will integrate this experience to help accelerate the growth and success of Kase Farma and HTC. Kase Manufacturing is one of the first volatile and non-volatile cannabinoid extraction manufacturing labs approved in the State of California. Kase Manufacturing utilizes the highest-quality extraction and refining equipment and laboratory tools available today and is operated by an award-winning team of extractors and formulators, who consistently produce industry best cannabinoid oils and distillate.

Kase Manufacturing, under Starling Brands, is licensed to operate in the areas of cannabis extraction, refining, formulation and distribution in the State of California. As part of the Transaction, Kase Farma will enter into an intellectual property licensing agreement with Starling that will allow for a technology transfer whereby intellectual property and technology licensed under this agreement will be utilized and deployed in HTC’s Canadian facility.

Reynolds has spent the last 10 years building political, business and community alliances in the cities of Ceres and Modesto, California. His involvement in cannabinoids began after his son, Kase, was diagnosed with epilepsy at the age of four months. Mike then formed a partnership with Jason David whose son also suffered from epilepsy, which gave a new impetus to the development and success of the Jayden’s Juice product offer, a cannabinoid-rich tincture, manufactured by Kase Manufacturing.

Reynolds directed the planning, design, construction, licensing, and staffing of Kase Manufacturing, one of the first cannabinoid manufacturing labs approved for operations in the State of California. His hands-on experience as a pioneering developer of medicinal cannabinoid products gives him the foresight that will allow Kase Farma to adapt quickly to changes in the hemp CBD, CBG and CBN marketplace. His relationship with the City of Ceres and experience as a parent of a child whose life was transformed by medicinal cannabinoids are invaluable to Kase Farma’s success.

Drew Ford has previously worked as a chemical engineer in the reverse osmosis desalination industry, working in research and development and chemical purification before making the switch to the cannabinoid space. Ford’s experience and passion for chemical purification and refinement brought him to the cannabinoid market. He was a key member of the team that developed the first vacuum distillation process equipment for cannabinoid oil and has optimized and redefined the standard of “potency” and “efficacy.” Many of the wiped film refining systems today being offered by equipment OEMs enshrined Ford’s significant experience in vacuum distillation product enhancement.

The transaction remains subject to customary closing conditions, including approval of the TSX Venture Exchange and is expected to be completed in December of this year.

Published at Sat, 23 Nov 2019 11:00:00 +0000

The Economics of Cannabis

The Economics of Cannabis

The economics of cannabis could not be simpler. All it takes is to first spend a few moments thinking.

Thanks to nearly a century of cannabis Prohibition, the legal cannabis industry is artificially beginning from scratch.

Thanks to nearly a century of cannabis Prohibition, the cannabis black market is an efficient, well-established, multi-billion dollar enterprise.

Everyone agrees (except for the waning population of anti-cannabis dinosaurs) that it is desirable for the legal cannabis industry to absorb/phase-out the black market. Everyone agrees that it is desirable for this transition to take place as quickly as possible.

Therefore, the legal cannabis industry requires a regulatory structure that will make it fully competitive with the cannabis black market.

Simple.

A recent article from Canada’s CBC attempted to make this point.
 

Only governments can solve the Canadian illicit pot crisis

Economists told governments how to wipe out the black market. They didn’t listen. 

Right idea. Poor way of framing it.

Economists (with rare exceptions) are dim-witted ivory tower clods. A 20-year academic study of the forecasting of such “experts” found their accuracy was only marginally better than a dart-throwing chimp.

What the CBC should have said is this. The economics of cannabis are so simple and obvious that even an economist can understand it.
 

While the legal industry battles to grab market share from their illicit competitors, economists could have told them this would happen.

And not just “could have.” Economists did tell them. In April 2017, long before cannabis became legal on Oct. 17, 2018, economist Rosalie Wyonch, a policy analyst with the C.D. Howe Institute, was one of those who had a warning for governments expecting to get rich from legalized pot.

“If the government taxes marijuana heavily,” she wrote in an open letter to Bill Blair, the federal cabinet minister who led the way on Canada’s pot policy, “it will ensure the continuation of the black market and will be undermining its efforts to control the substance.”

Despite this simple and obvious Big Picture, the legal cannabis industry in North America continues to be dysfunctional (to be polite).

In Canada, the cannabis black market still reaps roughly 85% of cannabis revenues. In California, the cannabis black market has actually grown larger since full legalization at the start of 2018.

Why? Because residual ignorance and anti-cannabis biases continue to linger at the political level. Common sense is almost non-existent.

This results in politicians continually undermining rather than assisting the legal cannabis industry in displacing the black market.

At both the national and state/provincial level, (most) governments are strangling the legal cannabis industry with red tape: procedural hurdles, compliance issues, security checks.

The black market wins.

At both the national and state/provincial level, governments are then burdening the legal cannabis industry with additional taxes and fees – making it impossible to be price-competitive.

The black market wins.

At the state/provincial level, governments then refuse to provide consumers with reasonable access to legal cannabis. This comes through foolishly allowing local governments to ban legal cannabis businesses (California), or simply failing to open a reasonable number of retail cannabis stores (Ontario).

Restricting the number of cannabis retail outlets or just refusing to license any legal cannabis businesses accomplishes only one thing: crippling the legal cannabis industry.

The black market wins.

In the tiny, propaganda-warped minds of the politicians, they are still “protecting us” from cannabis. Case in point, Canada’s clueless pot czar, Bill Blair.
 

“It’s not the government’s intention to promote the use of this drug but rather to make it legally available in a well-regulated manner to reduce the social and health harms often associated with cannabis use.”  [emphasis mine]

The supposed “social and health harms” that Blair claims are “often associated with cannabis use” are non-existent. Just anti-cannabis propaganda.

Cannabis is non-toxic and non-addictive. No one has ever died from a cannabis overdose. Cannabinoids are produced naturally in the human body and are essential to human health.

The only “harm” that has ever been “associated” with cannabis is the black market that our governments created when they needlessly criminalized cannabis.

Canadians don’t need to protected from cannabis. They only need to be protected from the stupidity and corruption of their political leaders with respect to cannabis laws.

Sensible governments should “promote the use” of cannabis as a much safer alternative to alcohol and/or tobacco products. It could save billions of dollars each year in healthcare costs, not to mention the savings in human lives.

Instead, idiot-politicians in Canada refuse to allow the cannabis industry to advertise, hiding it from consumers. They create ridiculous “potency limits” for cannabis products that have no scientific basis.

The federal government taxes medicinal cannabis, providing an economic incentive for Canadians to purchase their medicine from the black market. Then Health Canada has a hissy-fit when a Canadian LP is discovered supplying cannabis to the same black market.

Quebec’s provincial government has gone even farther with its irrational anti-cannabis paranoia.

The provincial government recently raised the legal age for cannabis consumption from 18 to 21. This won’t stop young adults in Quebec from purchasing and consuming cannabis. It will simply force them to buy their cannabis illegally.

In Ontario, the provincial government spends half its time discovering new ways to lose taxpayer dollars on legal cannabis. And it spends the other half of its time thinking up new excuses and delays in opening retail cannabis stores.

The situation is even worse in the United States.

In the Land of Anti-Cannabis Idiots, cannabis is still legally equated with heroin at the federal level. As a direct result of this regulatory vacuum, thousands of Americans have become ill and dozens have died from tainted black market cannabis vaping products.

Is Congress fast-tracking national cannabis legalization so that the federal government can fill this regulatory vacuum and nationally regulate/inspect cannabis consumer products as soon as possible?

No.

The Democrats just voted on a partisan bill in the House that they are calling “marijuana legalization” (U.S. politicians have a mental block that prevents them from saying the word “cannabis”).

It’s not legalization. It’s merely cannabis decriminalization. All that decriminalization would do is to allow the cannabis black market to get much larger. More Americans would be exposed to tainted vaping products.

And this partisan bill has absolutely zero chance of making it through the Senate.

The Republicans? They are doing nothing at all.

At the state level, governments are reluctantly legalizing cannabis – generally only when forced to do so by voter ballot. Then state politicians (cowardly) allow local governments to “opt out” of cannabis legalization.

Understand the monumental stupidity here.

Thanks to the enormous cannabis black market created by our governments, local governments can’t “ban cannabis”. They can only ban legal cannabis – and thus preserve that jurisdiction for the black market.

Even an economist can understand that.

Cannabis use is not merely safe, it is healthy. The cannabis plant is without question the world’s most commercially versatile crop, especially once the hemp sub-species is factored into the equation.

Our leaders should be bending over backwards to support the legal cannabis industry – for the potential tax revenues alone (from moderate taxation). Instead, they continue to undermine the legal industry at every turn.

The economics of cannabis is simple.
 

a)  Support the legal cannabis industry.
b)  Phase-out the black market.
c)  Collect tax dollars.

By refusing to do (a), the politicians are failing to do (b), and throwing away (c).
 

Published at Fri, 22 Nov 2019 20:33:19 +0000

1933 Industries Adds Another World Class Brand To Expand On National CBD Strategy

1933 Industries Adds Another World Class Brand To Expand On National CBD Strategy

In early November, 1933 Industries (TGIF.CN) (TGIFF) expanded its cannabidiol (CBD) product line and launched the Birdhouse line of products. Tony Hawk is one of the best known skateboarders and we expect to see strong demand for this line of CBD products.

From a branding standpoint, 1933 Industries has been nothing short of an execution story and we are favorable on this aspect of the story. Through strategic partnerships and investments, the company has added several high-profile cannabis brands to its portfolio and we find this to be significant. In a time where safety is of the utmost importance, we expect to see consumers show a preference for certain brands and believe that 1933 will be benefit from this trend.

Through 1933 Industries’ Canna Hemp subsidiary, the company has been able to penetrate 46 states across the US and is working to become a leading CBD brand. We expect the launch of Birdhouse to result in strong growth on the CBD side of the business and will monitor how the product line gains traction.

At current levels, 1933 Industries has an attractive risk-reward profile and is trading at a discount when compared to its peers. With approx. $50 million of current assets and a market cap of approx. $30 million, this is an opportunity that is hard to ignore and we will continue to closely monitor the business. In 2020, we expect 1933 Industries to record strong revenue growth and believe that the market underappreciates this aspect of the story.

When analyzing the 1933 Industries operation, there are a number of initiatives to be excited about. From a major expansion in Las Vegas to entering the California cannabis market, the company has substantial growth prospects and we believe this is opportunity is worth watching. During the last few months, 1933 Industries has been under pressure and has traded lower with the market. We believe that the concerns pertaining to vaping has put additional pressure on the sector and expect this weakness to be transitory.

1933 Industries represents a multi-faceted growth story and we believe that the management team operates in the best interests of shareholders. We are of the opinion that the company is focused on expanding in ways that are efficient and that will generate substantial cash flow. We are favorable on how the 1933 Industries’ story has evolved, and this is an opportunity to be watching.

Pursuant to an agreement between StoneBridge Partners LLC and 1933 Industries we have been hired for a period of 180 days beginning July 15, 2019 and ending January 15, 2020 to publicly disseminate information about (TGIF) including on the Website and other media including Facebook and Twitter. We are being paid $7,500 per month for a period of 6 months. We own zero shares of (TGIF), which we purchased in the open market. We plan to sell the “ZERO” shares of (TGIF) 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 (TGIF) 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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Anthony Varrell

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

Published at Wed, 20 Nov 2019 12:21:55 +0000

$3000: “American Marijuana” will pay you to try cannabis products

$3000: “American Marijuana” will pay you to try cannabis products

Forget about a drug test for this job. The position is testing drugs.

American Marijuana, a website that provides reviews for marijuana products, is hiring. The job posting is for a marijuana product tester. It would pay someone $3,000 monthly or $36,000 annually, “depending on their experience and their capabilities.”

If it sounds too good to be true, the posting reinforces that the “job is 100% for real.”

Every month, the person who his hired will be shipped a box containing different brands and varieties of cannabis products.

The products will range from weed strains, vapes, edibles to CBD oils.

The person will test the products and write about their experience.

The reviews would include an explanation of their experience with the product during and after their use to educate readers and viewers on its effectiveness.

Read More

Published at Tue, 19 Nov 2019 20:49:57 +0000

California Suspends Hundreds of Cannabis Business Licenses, Massachusetts Issues Quarantine on Vapes: Week in Review

California Suspends Hundreds of Cannabis Business Licenses, Massachusetts Issues Quarantine on Vapes: Week in Review

BOULDER, CO, Nov. 14, 2019 /CNW/ – PRESS RELEASE – Charlotte’s Web Holdings, Inc. a hemp CBD extract products company, has announced the appointment of Jacques Tortoroli to its Board of Directors.

Tortoroli, who most recently served as Chief Administration Officer of Bacardi Limited in Bermuda, brings extensive global experience in finance and operations at both private and public companies. As CAO of Bacardi, the largest privately held spirits company in the world, he was a member of the Global Leadership Team and responsible for global finance, operations, information technology and real estate.

Before joining Bacardi in 2014, Tortoroli had spent more than a decade at Viacom, Inc. He held a number of senior finance roles at the multinational entertainment company, most recently serving as both Executive Vice President of Finance for Viacom and as EVP and Chief Financial Officer for Viacom Media Networks, formerly MTV Networks. Prior to that, he held various executive leadership roles at Young & Rubicam, Inc., PepsiCo, Inc., and KPMG.

Tortoroli also recently accepted a position as Executive in Residence and Lecturer at St. Thomas Aquinas College in New York. He has been a member of the college’s Board of Trustees since 2001, serving on the Audit Committee and the Investment & Finance Committee. Tortoroli previously served as a Board Member of the International Baccalaureate, as head of the Audit and Finance Committee and member of the Compensation Committee, Geneva and Cardiff.

“Jacques’ appointment is timely, with the company exploring plans to expand globally as the market leader in CBD products,” said Charlotte’s Web Chairman of the Board and Co-Founder Joel Stanley. “His deep financial knowledge and breadth of international experience in public and private companies will make an important contribution during our next phase of growth.”

Tortoroli stated, “I am honored to serve on the Charlotte’s Web Board of Directors. It’s an exciting time in the growing CBD industry, and Charlotte’s Web has earned its dominant market position through a combination of innovative products and world class executive talent.”

Tortoroli, who will serve on the Compensation and Audit Committees, brings the number of Directors to seven. In addition to Joel Stanley, he joins Jared Stanley, the Company’s Co-Founder and Vice President of Cultivation Operations; Charlotte’s Web CEO Deanie Elsner; John Held, Executive Vice President, General Counsel, and Secretary of Omega Protein Corporation; William West, Co-Founder and President of Tesseract Medical Research; and Shane Hoyne, Managing Director & Chief Marketing Officer of Quintessential Brands Group.

Published at Sat, 16 Nov 2019 11:00:00 +0000

Isracann Biosciences Announces OTC Trading Symbol Change to “ISCNF”, Effective November 15, 2019

Isracann Biosciences Announces OTC Trading Symbol Change to “ISCNF”, Effective November 15, 2019

Isracann Biosciences Inc.  (CSE: IPOT) (FRA: A2PT0E) (OTC: ISCNF) an Israel-based company focused on becoming a premier low cost, high quality cannabis producer for both Israeli and European export sales, is pleased to announce that the Financial Industry Regulatory Authority, Inc. has approved the Company’s request to change its OTC ticker symbol to ISCNF, effective as of the opening of market trading on November 15, 2019.

The previous trading symbol was ATLED and has been changed to more accurately represent our corporate brand and primary operations in the cannabis sector. The Company is also pleased to announce that it has secured DTC eligibility by The Depository Trust Company (“DTC”) for electronic settlement and transfer of its common shares in the United States.

“Trading under the new OTC ticker symbol ISCNF and achieving DTC eligibility is a major step forward in making it materially easier for US-based investors who are intrigued by the idea of buying shares in an Israeli cannabis venture operated by sector experienced entrepreneurs and capital markets professionals. Our strategic aim is straightforward and leverages the national brand excellence of the Israeli agricultural industry combined with planned industrial scale production of low cost premium quality cannabis targeting export into the massive European marketplace. It’s a uniquely scalable venture that combines numerous positive attributes including a team that knows how to execute,” stated Darryl Jones, Company CEO. “This is an important step in propelling our story to wider audiences and to materially grow our investor base.”

No action is required to be taken by current shareholders with relation to the trading symbol change, and no changes have been made to the Company’s share capital, management, or control. Isracann’s shares will continue to trade on the Canadian Securities Exchange (CSE) under the symbol CSE: IPOT, as well as the Frankfurt Stock Exchange under the symbol FRA: A2PT0E.

Updates relating to the additional corporate changes mentioned above will be announced as initiatives continue to progress.

ON BEHALF OF THE BOARD OF DIRECTORS

“Darryl Jones”

Darryl Jones
Chief Executive Officer and President

About OTC Markets Group Inc.
OTC Markets Group Inc. operates the OTCQX Best Market, the OTCQB Venture Market, and the Pink Open Market for 10,000 U.S. and global securities. Through OTC Link ATS and OTC Link ECN, the OTC Markets Group connects a diverse network of broker-dealers that provide liquidity and execution services. OTC Markets Group enables investors to easily trade through the broker of their choice and empowers companies to improve the quality of information available for investors.

About the Depository Trust Company
The Depository Trust Company (“DTC”), a subsidiary of the Depository Trust & Clearing Corporation (“DTCC”) and manages the electronic clearing and settlement of publicly traded companies. Securities that are eligible to be electronically cleared and settled through the DTC are considered “DTC eligible.” This reduces costs and accelerates the settlement process for investors and brokers, allowing the stock to be traded over a much wider selection of brokerage firms by coming into compliance with their requirements.

About Isracann Biosciences Inc. (CSE: IPOT) (FRA: A2PT0E) (OTC: ISCNF)
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 within Israel for medicinal marijuana cultivation. For more information visit: www.isracann.com.

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, and the Alberta Securities Commission.

Contact
Investor Relations
Toll Free: +1 855.205.0226
Email: inquiries@isracann.com
Web:  www.isracann.com

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Source: GlobeNewswire (November 15, 2019 – 9:00 AM EST)

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Published at Fri, 15 Nov 2019 14:13:27 +0000

Charlotte’s Web Appoints Former Bacardi Chief Administration Officer Jacques Tortoroli to Board of Directors

Charlotte’s Web Appoints Former Bacardi Chief Administration Officer Jacques Tortoroli to Board of Directors

BOULDER, CO, Nov. 14, 2019 /CNW/ – PRESS RELEASE – Charlotte’s Web Holdings, Inc. a hemp CBD extract products company, has announced the appointment of Jacques Tortoroli to its Board of Directors.

Tortoroli, who most recently served as Chief Administration Officer of Bacardi Limited in Bermuda, brings extensive global experience in finance and operations at both private and public companies. As CAO of Bacardi, the largest privately held spirits company in the world, he was a member of the Global Leadership Team and responsible for global finance, operations, information technology and real estate.

Before joining Bacardi in 2014, Tortoroli had spent more than a decade at Viacom, Inc. He held a number of senior finance roles at the multinational entertainment company, most recently serving as both Executive Vice President of Finance for Viacom and as EVP and Chief Financial Officer for Viacom Media Networks, formerly MTV Networks. Prior to that, he held various executive leadership roles at Young & Rubicam, Inc., PepsiCo, Inc., and KPMG.

Tortoroli also recently accepted a position as Executive in Residence and Lecturer at St. Thomas Aquinas College in New York. He has been a member of the college’s Board of Trustees since 2001, serving on the Audit Committee and the Investment & Finance Committee. Tortoroli previously served as a Board Member of the International Baccalaureate, as head of the Audit and Finance Committee and member of the Compensation Committee, Geneva and Cardiff.

“Jacques’ appointment is timely, with the company exploring plans to expand globally as the market leader in CBD products,” said Charlotte’s Web Chairman of the Board and Co-Founder Joel Stanley. “His deep financial knowledge and breadth of international experience in public and private companies will make an important contribution during our next phase of growth.”

Tortoroli stated, “I am honored to serve on the Charlotte’s Web Board of Directors. It’s an exciting time in the growing CBD industry, and Charlotte’s Web has earned its dominant market position through a combination of innovative products and world class executive talent.”

Tortoroli, who will serve on the Compensation and Audit Committees, brings the number of Directors to seven. In addition to Joel Stanley, he joins Jared Stanley, the Company’s Co-Founder and Vice President of Cultivation Operations; Charlotte’s Web CEO Deanie Elsner; John Held, Executive Vice President, General Counsel, and Secretary of Omega Protein Corporation; William West, Co-Founder and President of Tesseract Medical Research; and Shane Hoyne, Managing Director & Chief Marketing Officer of Quintessential Brands Group.

Published at Thu, 14 Nov 2019 22:48:00 +0000

BevCanna Announces LOI to Acquire Cold-Pressed Juice Co. Little West

BevCanna Announces LOI to Acquire Cold-Pressed Juice Co. Little West

Emerging leader in infused cannabis beverages, BevCanna Enterprises Inc. (CSE:BEV, Q:BVNNF, FSE:7BC) (“BevCanna” or the “Company”) announced today that it has signed a non-binding Letter of Intent (the “LOI”) to acquire West Coast cold-pressed juice company, Little West Holdings LLC (“LW”).

BevCanna (CNW Group/BevCanna Enterprises Inc.)

California-based Little West currently offers a wide range of well-curated, delicious and locally sourced juices, including a line of hemp-derived CBD cold-pressed juices.  The CBD infused juices are crafted using high-quality Nano-emulsified CBD that has 0% THC. These new blends combine locally-sourced fresh produce with naturally-derived CBD, making Little West’s products one of the only all-natural CBD beverages on the market.

“Little West’s line of cold-pressed juices will be a fantastic addition to our portfolio of cannabis-infused beverages,” said Emma Andrews, Chief Commercialization Officer at BevCanna. “Their products are created with a focus on health and wellness, using the highest-quality, freshest ingredients, and the taste is incredible. There are a number of synergies with BevCanna’s range of infused beverages, and we’re excited to soon be able to offer Little West juices to our customers.”

“Little West has developed a compelling range of products, including their range of CBD infused drinks, with an authentic emphasis on health and wellness all without compromising on taste”, said Emma Andrews, Chief Commercialization Officer at BevCanna. “The premise and intention behind their brand aligns very well with BevCanna’s vision to promote wellbeing and quality of life through everything we produce.”

“BevCanna will also be able to leverage Little West’s unique points of distribution amongst ‘tastemaker’ accounts in the food service and hospitality channels, as we look to bring additional CBD infused brands and products to market” continued Ms. Andrews. Little West’s distribution includes a number of high-end hotels, retailers, restaurants and grocery chains, including Ace Hotels, Viceroy Hotels, WeWork, Apple Headquarters, La Colombe, Alfred Coffee, Bristol Farms, and Gelsons Market.

“We’ve been looking for a partner that can help us grow Little West, while maintaining our vision of providing the very best in all-natural, nutritious, healthy juices, said Cassandra Troy, Founder and CEO, Little West. “BevCanna fit the bill perfectly. The bottling, branding, development and natural resources that they bring to the table are unmatched, and their view of the future of infused beverages meshes seamlessly with ours.”

Letter of Intent

The non-binding LOI contemplates that BevCanna US Operating Company Ltd. (“BEV US”), a wholly owned indirect subsidiary of the Company, would acquire all of the issued and outstanding shares of LW and the business of LW (the “Acquisition”) from the securityholders of LW (the “LW Shareholders”) pursuant to a share purchase agreement (the “SPA”) which will include the terms and conditions set forth below, and additional warranties, representations, covenants and terms and conditions that are customary and consistent with industry standards for this type of transaction. Entry into the SPA and the closing thereof is subject to certain conditions including completion by BevCanna of a satisfactory due diligence review of LW and receipt of all necessary corporate and regulatory approvals, including those of the Canadian Securities Exchange (the “CSE”).

Consideration for Acquisition

  • In consideration for the Acquisition, the LOI contemplates that the LW Shareholders would be paid by BevCanna an aggregate of US $1.0 million in cash and US $3.0 million in common shares (each, a “Share”) in the capital of BevCanna. The deemed issuance price of the Shares would be equal to CAD$0.56, subject to compliance with CSE policies and applicable securities laws.
  • The Company would also issue additional Shares to LW Shareholders on achievement of certain milestones by LW (the “Additional Consideration”). The terms of the Additional Consideration will be included in the SPA. The deemed issuance price of the Shares issued as Additional Consideration would be equal to the closing price of a Share on the applicable date, being the trading date prior to the date that a particular Milestone occurs, subject to compliance with CSE policies and applicable securities laws.

No Shop and Exclusivity

  • LW and the LW Shareholders have agreed to a no shop clause and exclusivity of negotiation for 45 days from the date of the LOI.

Distribution of BevCanna Products

  • Following the Acquisition, the Company expects to introduce its own water-based hemp-derived CBD infused product lines for sale through LW’s distribution network in 2020 and onwards, with a mutually agreed-upon sales strategy to be put in place.

Target Closing Date

  • The parties have agreed to act in an expeditious manner to close the Acquisition within 45 days from the signing of the LOI.

About BevCanna Enterprises Inc.
BevCanna Enterprises Inc. (CSE:BEV, Q:BVNNF, FSE:7BC) develops and manufactures cannabinoid-infused beverages and consumer products for in-house brands and white label clients. With decades of experience creating, branding and distributing iconic brands that have resonated with consumers on a global scale, the team demonstrates an expertise unmatched in the emerging cannabis beverage category. Based in British Columbia, Canada, BevCanna has a 130-acre outdoor cultivation site in the fertile Okanagan Valley and the exclusive rights to a pristine spring water aquifer, as well as a world-class 40,000-square-foot, HACCP certified manufacturing facility, with a current bottling capacity of up to 72M bottles per shift/per annum.

None of the securities issued in connection with the Acquisition will be registered under the United States Securities Act of 1933, as amended (the “1933 Act”), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any state where such offer, solicitation, or sale would be unlawful.

Disclaimer for Forward-Looking Information

This news release contains forward-looking statements under applicable securities laws, including the statements: that BevCanna will add high-quality juices to its portfolio, and will also leverage Little West’s US distribution network for BevCanna brands; that Little West’s line of cold-pressed juices will be a fantastic addition to BevCanna’s portfolio of cannabis-infused beverages; that BevCanna will soon be able to offer Little West juices to its customers; that BevCanna will also be able to leverage Little West’s unique points of distribution amongst ‘tastemaker’ accounts in the food service and hospitality channels, as BevCanna looks to bring additional CBD infused brands and products to market; with respect to the terms of the Acquisition, including the timing of the entry into the SPA and the closing thereof, the consideration to be paid by the Company in connection with the Acquisition; and that following the Acquisition, the Company expects to introduce its own water-based hemp-derived CBD infused product lines for sale through LW’s distribution network in 2020 and onwards, with a mutually agreed-upon sales strategy to be put in place. These statements are based on certain assumptions regarding the Acquisition and the future business plans of the Company. Readers are cautioned not to place undue reliance on forward-looking statements. The assumptions of the Company, although considered reasonable by it at the time of preparation, may prove to be incorrect. In addition, forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with future legislative and regulatory developments in Canada and the United States; that the CSE may not approve the Acquisition as proposed or at all; that the parties may not enter into a definitive agreement in connection with the Acquisition; that the parties may not be able to satisfy the conditions to closing of the Acquisition; adverse market conditions; and other factors beyond the control of the parties. 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. The Company 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.

SOURCE BevCanna Enterprises Inc.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/November2019/13/c7223.html

For media enquiries or interviews, please contact: Wynn Theriault, Thirty Dash Communications Inc., 416-710-3370, wynn@thirtydash.ca; For investor enquiries, please contact: Luca Leone, BevCanna Enterprises Inc., 604-880-6618, luca@bevcanna.comCopyright CNW Group 2019

Published at Wed, 13 Nov 2019 13:45:27 +0000




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