TheTHCReport | Green Rush News - Part 14

CannTrust Announces Senior Leadership Changes

CannTrust Announces Senior Leadership Changes

Product liability is one of the largest exposures the cannabis industry faces, and all businesses are at risk, no matter their place in the supply chain, according to Brian Henry, a senior vice president in HUB International’s cannabis practice.

HUB, an insurance broker that provides business and personal insurance as well as employee benefits, maintains that everything from product contamination to DUI cases can become a risk for a cannabis business. Continued monitoring of business exposures related to cultivation, production and distribution practices is needed to reduce these risks, and Henry cautions that businesses get what they pay for in terms of coverage; operators should focus on obtaining the proper policy for their business rather than finding the lowest price tag.

First and foremost, Henry says, cannabis business owners should be wary of specific product exclusions that may be lurking in their policies. Generally, an insurance policy will grant a business a broad range of coverage, which is then narrowed through exclusions. Cannabis companies should ask their insurance brokers to explain any and all exclusions in their policies, Henry says.

“I want to see every single exclusion that the underwriter is attaching to the policy,” he says. “Again, it varies by insurance company. There can be a lot of variation in the exclusions that insurance companies add to their policies. You need to work with an experienced broker who takes the time to review these insurance policies word-for-word to really understand what coverage is there, and more importantly, what coverage is not there.”

Some exclusions can bar insurance coverage on the very products that cannabis businesses produce and sell, Henry adds.

“For instance,” he says, “we saw a vape pen manufacturer that had an electronic smoking device exclusion. We also see various illegal acts exclusions, and those can be problematic at times, depending on how broadly they’re written, because obviously [cannabis is] still illegal federally. You have ingredient exclusions, and we’ve come across numerous cannabis companies that had no clue that many of the ingredients they were using in their edibles were not covered.”

Health hazard exclusions can also be problematic for cannabis businesses, Henry adds, and can include exclusions for cardiovascular disease and cancer, as well as psychoactive exclusions.

Identifying Exposures

According to Henry, every business in the cannabis supply chain has the same exposure: if an end user is injured due to the product, he or she will most likely sue every point in the supply chain.

Contracts with vendors often include language that makes the product manufacturer responsible for negligence should a product liability claim arise, Henry says. Therefore, it is important to ensure that the manufacturer has an adequate insurance policy to protect the other businesses in the supply chain.

“A lot of folks say, ‘Oh, we have insurance. We don’t need to worry about it,’” Henry says. “They may have insurance, but do we know what that insurance actually covers? You can have a manufacturer that really doesn’t have much insurance at all, so then you’re relying on those indemnification agreements within the contract, if they even exist, to protect you.”

Cannabis companies should also consider coverage for product recalls, Henry adds. If a product is recalled due to pesticides or incorrect labeling of THC content, for example, the business is required to cover any costs incurred to get the product off the shelves.

“That can be very, very expensive,” Henry says.

You Get What You Pay For

Ensuring proper product liability coverage comes down to finding the right broker and policy for your unique business, Henry says.

“I think the key here is buyer beware and you get what you pay for,” he says. “There are certain policies that are going to be out there that aren’t going to be worth the paper that they’re written on.”

Cannabis businesses should have the same product liability insurance as product manufacturers in other industries, Henry says, and cannabis operators should always pay close attention to exclusions.

“I would say exclusions are a big deal,” he says. “From our perspective … not all insurance policies are created equal, [and] certainly not all brokerages are created equal, either.”

Insurance does not exist for every risk a cannabis operator faces, so having a broker that understands the limitations of the marketplace and who is able to obtain the broadest coverages available is paramount.

Published at Fri, 26 Jul 2019 13:36:00 +0000

What to Know About Growing Marijuana Indoors

What to Know About Growing Marijuana Indoors

The marijuana industry has grown substantially over the course of the past year or two. In that time the industry has changed as well allowing for more people than ever to begin using and growing cannabis. All of this has led to more people than ever wanting to grow their own cannabis.

Of course, the benefits are simple. Cheaper weed, and a higher degree of quality control. In addition, the satisfaction of creating your own marijuana is cause enough to give it a shot. With more resources than ever allowing for consumers to do research, it seems as though now is a better time than ever.

Picking the Right Grow Environment

The place to start to begin growing cannabis is to pick the proper growing environment. This space needs to be somewhere with a high degree of light control and a large amount of space. In this way, one will be able to produce all of their own factors such as growth, light, materials for the plant and more. With a black canvas like a closet or a spare room, one can have all of the control they need to properly produce marijuana.

One of the most important factors to growing cannabis is to consider the scale of the operation. If it is your first time, it is extremely important to start small. Starting small will ensure several factors. For starters, it will be less expensive than growing in a bigger way. Additionally, it will be easier to keep track of the plants when there is only a small amount. Also of note, if you make any mistakes during the first grow, it won’t be nearly as expensive on a small scale.

A Marijuana Stock to Watch for Cannabis Growing

Scotts Miracle-Gro (NYSE:SMG) is one of the key marijuana stocks to watch for investing in cannabis. This marijuana stock company primarily runs an operation for the growth of various plants. Recently, they started a subsidiary known as Hawthorne Gardening which is aimed at hydroponics and growing cannabis.

Hawthorne Gardening has very quickly become one of the main profitable parts of the business. In only a short period of time, Scotts Miracle-Gro as a whole has shot up in value due to their part in the marijuana market. The company remains a key marijuana stock to watch moving into the future.

What to Know About Growing Marijuana Indoors The Final Things to Pay Attention to

Growing cannabis is all about the control of the variables. With the proper lighting and fertilization techniques, growing marijuana isn’t nearly as hard as people think. The most important part is doing the proper research and testing that research out.

If one has a proper grow space, proper lighting, humidity control and temperature controls, it’s hard to get it wrong. After the first initial grow, the excitement of making your own marijuana will undoubtedly lead you to growing more. As with all things, the more practice you have, the better the end product will end up turning out

Published at Fri, 26 Jul 2019 15:20:25 +0000

Opportunities continue to multiply for US cannabis companies seeking to raise capital

Opportunities continue to multiply for US cannabis companies seeking to raise capital

(This is an abridged version of a story that appears in the July issue of Marijuana Business Magazine.)

The American marijuana industry is in a far better place for businesses seeking to raise money than it was a year ago.

In fact, the landscape has grown leaps and bounds from three or four years ago, when there were fewer than 20 medical cannabis markets in the U.S., and Colorado and Washington were the only states with recreational cannabis companies.

That was a time when marijuana businesses had little capital available to them, and investors were outliers on the risk-tolerance chart.

“The risk factors three and five years ago were so much greater, and the types of people investing were different,” said Sheri Orlowitz, who founded Artemis Capital, a marijuana-focused private equity firm in Washington DC, after serving as a prosecutor for the U.S. Department of Justice

“A few years ago, you were talking about real gamblers, penny stock people. It was a whole different risk tolerance and personality back then.

“Today, you have far less risk. There is a ton more legitimate money out there now.”

Family offices and people of high net worth continue to invest heavily in marijuana businesses, but a broader spectrum of investors are now seriously looking at the cannabis industry, ranging from private equity firms to angels to venture capital.

The investment climate has changed so much so fast that Marijuana Business Magazine took a deep dive into the topic, seeking insights from cannabis entrepreneurs involved in successful raises, other industry insiders and investors about raising MJ money in 2019 and the future.

Some of the lessons learned include:

Meanwhile, some finance veterans who have transitioned to the cannabis sector share their insights on how American cannabis companies can find funding:

Finally, more and more U.S. firms are turning to Canada to raise money. Here’s a look at how that move could work.

Published at Sat, 27 Jul 2019 14:00:18 +0000

CannTrust Fires CEO and Chair in Wake of Illegal Growing

CannTrust Fires CEO and Chair in Wake of Illegal Growing

VAUGHAN, ON, July 25, 2019 /CNW/ – PRESS RELEASE – CannTrust Holdings Inc. has announced immediate senior management changes and other interim actions based on the ongoing investigation being undertaken by a special committee of its board of directors.

The investigation into the company’s non-compliance with Health Canada regulations and ancillary matters uncovered new information that has resulted in a determination by the Board to terminate with cause CannTrust CEO Peter Aceto. 

In addition, the Board of Directors demanded the resignation of the company’s chair, Eric Paul, and he complied. 

Effective immediately, the Board has appointed Special Committee Chair Robert Marcovitch to the role of interim CEO and he will step down as a member of the Special Committee. A seasoned chief executive, Marcovitch was most recently the president and CEO of K2 Sports, an international developer, manufacturer, marketer and distributor of winter sports equipment. He was previously the chief executive officer at The Coleman Outdoor Company from 2011 until 2015, and prior to that, was chief executive officer and president of Ride, Inc. from 1994 to 1999, which prior to its acquisition by K2 was a large publicly traded company.

“Our first priority is to complete the remaining items of our investigation and bring the company’s operations into full regulatory compliance. Implementing the necessary changes is essential to the interests of our medical patients, customers, shareholders and employees,” said Marcovitch. “CannTrust has a number of strengths it can draw upon to reset and rebuild, including industry-leading research, innovation and intellectual property.”

Mark Dawber has assumed the role of Special Committee Chair.

Based on new information uncovered by the investigation, the company made a voluntary disclosure to Health Canada. The company will fully cooperate with the regulator in an open and transparent manner to resolve these matters fully and expeditiously.

The company is preparing to make additional operational changes in the days and weeks ahead, which will be announced in due course.

At this time, the impact of these matters on CannTrust’s financial results is unknown. Further updates will be provided as they become available.

Published at Fri, 26 Jul 2019 15:28:00 +0000

Cannabiz Countdown: Market Projected to Hit $44.8 Billion by 2024 (60-Second Video)

Cannabiz Countdown: Market Projected to Hit $44.8 Billion by 2024 (60-Second Video)

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

Published at Wed, 24 Jul 2019 12:00:00 +0000

3 Key Steps to Securing a Marijuana Manufacturing License

3 Key Steps to Securing a Marijuana Manufacturing License

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

Published at Thu, 25 Jul 2019 12:20:00 +0000

Gabriella’s Kitchen to Acquire 25,000 SF California Facility to Accelerate Product Development and Production

Gabriella’s Kitchen to Acquire 25,000 SF California Facility to Accelerate Product Development and Production

SANTA ROSA, California and CALGARY, July 25, 2019 /CNW/ – Gabriella’s Kitchen Inc. (“GABY” or the “Company”) (CSE: GABY) (OTCQB: GABLF), a U.S.-focused CPG company operating in the regulated cannabis sector in California as well as the mainstream grocery channel nationally, today announced the signing of definitive documents to acquire all of the issued and outstanding membership interests (the “KJM Shares”) of  KJM Data and Research, LLC (“KJM”) (the “Transaction”).

The Transaction will enable GABY to: increase its manufacturing and co-packing footprint by more than three times its current size; produce a portion of its own inputs for flower and biomass; establish a licensed kitchen for the expansion of edibles production; and supply its internal brands and partner brands with unique and high value cannabis genetics.

Highlights
 

  • KJM currently has a 25,000 square foot leased facility (the “Facility”), located less than one mile from GABY’s current Santa Rosa facility.
  • The Facility is zoned for all cannabis-related activities other than retail and type 7 (volatile) manufacturing. KJM currently has approval from Sonoma County for four licenses: manufacturing; cultivation; nursery; and distribution. A Provisional State License for Type 6 (non-volatile) manufacturing is also in place.
  • With this new Facility, GABY expects to be able to supply 10% of its base needs for biomass. Thus ensuring a steady access to high quality inputs to enable it to continue its strong expansion.
  • Shawn Ripley has joined the Company as Consulting Chief Science Officer with a focus on accelerating product development focused on the California market.

Margot Micallef, Founder & CEO of GABY commented, “Our team has a proven track record of developing, marketing and selling branded consumer products at scale and in partnership with some of the most recognizable retail banners in North America. The Transaction we announced today will enable our organization to effectively and rapidly enter its next phase of growth in the most exciting adult-use cannabis market in the world.  Sonoma County is the ideal place to build a footprint to supply the U.S. as adult-use legalization continues to gain traction across the country. Sonoma is both the gateway to the emerald triangle, one of the most renowned cannabis production areas in the world and situated with quick access to bay-area transit routes and large retail markets, enabling both near and long-term growth and scale”.

 “With this Transaction, GABY is set to triple its manufacturing and co-packing footprint while ramping edibles production and establishing high value cultivation both for our internal brands and third-party partner brands.” she added. 

Ms. Micallef concluded, “We are very excited to have Shawn Ripley join our team and expect his proven track record of developing and commercializing adult-use cannabis products to meaningfully accelerate our efforts in California.” 

Transaction Details:  

GABY will immediately acquire 80% of the issued and outstanding KJM Shares for a purchase price of USD$400,000, less  any debt, contingent or otherwise outstanding at closing the (“Purchase Price”) and has the right to purchase the remaining 20% of KJM Shares, subject to certain licensing milestones and other conditions, in exchange for the grant of a two-year warrant for USD$200,000 worth of GABY common shares at an exercise price to be established at the closing price of GABY common shares on the Canadian Securities Exchange on the day prior to the closing date of the remaining 20% of the KJM Shares. GABY has also agreed to enter a seven-year lease on the Facility upon closing of its acquisition of the KJM Shares. The Company will also hold two five-year rights of renewal.

Shawn Ripley

Shawn Ripley is a proven scientific leader that has focused on both developing and commercializing products for various consumer markets in the U.S. and Canada. Mr. Ripley has deep cannabis sector experience. Most recently, he founded and was the CEO of EFX Laboratories (“EFX”), which was focused on providing de non-smokable predictable dosage formats of cannabis for medical patients in Canada. Under Mr. Ripley’s direction, EFX purchased 6% of Broken Coast Cannabis, one of Canada’s first licensed producers and lead EFX teams to develop Super Critical Fluid extracts, two-piece capsules and MCT based delivery systems. Aphria Inc., one of Canada’s largest LPs purchased Broken Coast in 2018.

About Gabriella’s Kitchen Inc.

GABY is a U.S.-focused, consumer packaged goods company operating a house of brands in the cannabis industry and in the mainstream grocery channel. Through its subsidiaries GABY indirectly holds a number of licenses and permits issued by the California Department of Health, the California Bureau of Cannabis Control and the County of Sonoma respectively, including manufacturing, distribution, cultivation and nursery licenses. With these licenses and permits to operate in the cannabis channel, and its existing infrastructure of major retailers and an extensive broker and distribution network in the mainstream channel, GABY has successfully brought a number of its proprietary, acquired and third-party brands to market in both the licensed and mainstream market.

Margot and her sister Gabriella co-founded GABY after Gabriella received a dire cancer diagnosis which spurred the sisters to prolong Gabriella’s life through a holistic approach to health. Today, GABY is a wellness company with a diverse range of products that use cannabis and hemp derived CBD to address a variety of dietary and health concerns. Although Gabriella ultimately passed away from her illness, she lived exponentially longer than doctors predicted. Her memory and passion live on through GABY’s mission: to empower people to live healthy lives without compromise.

GABY’s shares trade on the CSE under the symbol “GABY” and on the OTCQB under the symbol “GABLF”. For more information, visit www.GABYInc.com

Disclaimer and Forward-Looking Information

The CSE does not accept responsibility for the adequacy or accuracy of this release. Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, certain of which are beyond the control of the Company. Forward-looking statements are frequently characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. These statements are only predictions. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Forward looking statements include, but are not limited to, the anticipated closing of additional acquisitions by the Company, the continued growth and expansion of the Company’s operations, and the receipt of regulatory approvals, including the approval of the CSE. The Company assumes no obligation to update forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

Certain of GABY’s subsidiaries hold cannabis licenses in the State of California. Unlike in Canada which has Federal legislation uniformly governing the cultivation, distribution, sale and possession of medical cannabis under the Cannabis Act (Federal), readers are cautioned that in the United States (“U.S.”), cannabis is largely regulated at the State level. Cannabis is legal in the State of California however cannabis remains illegal under U.S. federal laws. Notwithstanding the permissive regulatory environment of cannabis at the State level, cannabis continues to be categorized as a controlled substance under the Controlled Substances Act in the U.S. and as such, cannabis-related practices or activities, including without limitation, the manufacture, importation, possession, use or distribution of cannabis are illegal under U.S. federal law. To the knowledge of the Company, thef business of each of GABY’s licensed subsidiaries are conducted in a manner consistent with the State law of California and are in compliance with regulatory and licensing requirements applicable in the State of California. However, readers should be aware that strict compliance with State laws with respect to cannabis will neither absolve GABY, or any of its subsidiaries of liability under U.S. federal law, nor will it provide a defense to any federal proceeding in the U.S. which could be brought against any of GABY, or any of its subsidiaries. Any such proceedings brought against GABY, or its subsidiaries may materially adversely affect the Company’s operations and financial performance generally in the U.S. market specifically.

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

SOURCE Gabriella’s Kitchen

Published at Thu, 25 Jul 2019 15:08:20 +0000

How Is Marijuana On The Black Market Shifting The Industry

How Is Marijuana On The Black Market Shifting The Industry

The legal marijuana market has all but taken off in the past 6 months to a year or so. In that time, the industry has completely shifted from being somewhat underground to one of the most popular markets of the modern-day. With the growth of marijuana stocks, the industry has seen a large amount of capital flood in as well. All of this adds up to one of the most promising industries moving into the near future.

One of the only issues that we have run into with legal cannabis is the curbing of the black market. Because the prices of illegal cannabis is so much cheaper than that of legal cannabis. This is due to the high amount of taxes that can depend on broad location and more specific areas. These taxes can compound as well at times leading to an almost 40% mark up on cannabis products.

What the Main Issues Are

All of the various statewide markets in the U.S. have different issues that they can run into. One of the existing issues is that there is already a massive amount of infrastructure for selling cannabis around the U.S. and the world. This means that the market is widely established by this point.

Another one of the issues is that it is difficult to solve the black market problem given the market is so segmented. Because there are no federal laws allowing the use of marijuana, states decided on their own to put in legislation. This means that each state has to fight their own battle in terms of combatting the black market. Adam Smith, a speaker from the Craft Cannabis Alliance stated that “you’re never going to eliminate the illicit market until most of the states are legal. As long as half the country still can’t get it legally, there’s a market for it legally.”

A Marijuana Stock That Could Benefit From Shifting Legal Markets

Cronos Group (NASDAQ:CRON) is considered to be one of the top three marijuana stocks in the whole of the industry. The company operates by producing both products and large quantities of cannabis. Because they are a Canadian cannabis company, they have less exposure to the issues of the U.S. marijuana market.

The company has been working on a massive deal to begin the production of cannabis-infused beverages. The cannabis-infused beverage market is one of the largest growing sectors of the industry as a whole. Because of this, Cronos Group looks well-positioned for the future of the pot stock market. Cronos Group remains a pot stock to watch moving into the near future.

As we continue to traverse the future of the cannabis industry, the black market remains one of the top priorities to solve. The hopes are high that as new legislation goes into place, legal cannabis can remain supreme. All in all, the market is continuing to look like it has a lot of potential going into the future.

Published at Thu, 25 Jul 2019 16:18:42 +0000

Beijing Automotive Group Acquire 5% Stake In German Carmaker Daimler (OTCMKTS:DMLRY)

Beijing Automotive Group Acquire 5% Stake In German Carmaker Daimler (OTCMKTS:DMLRY)

On Tuesday Beijing Automotive Group Co Ltd.
indicated that it had acquired 5% stake in Daimler
(OTCMKTS:DMLRY)
which further cements the relationship between China and
the German automotive company following the emergence of Geely Holdings a
competitor.

Beijing
Automotive acquires 5% stake in Daimler

With the 5% stock acquisition Beijing
Automotive Group will also have voting rights equal to the stake. For a while
the companies have been partners in China in Daimler’s move of establishing
joint ventures to produce cars. However in 2018 a new player entered the matrix
when Geely Holdings’ Chairman Li Shufu acquired a 9.69% stake in Daimler with
the goal of collaborating with the company to manufacture self-driving and
electric cars.

With the acquisition Beijing Automotive
Group Chairman Heyi Xu indicated that the move reinforces the company’s
alignments as well as its relentless support for the German carmaker’s management
and strategy.

The move will however raise concerns in
German regarding the growing influence of China in its industrial sector. In
recent years there has been increased acquisition of German companies by
Chinese companies and the most notable is Kuka which is a maker of industrial
robots.

Chinese
market vital for success of Daimler

With cost of making electric car batteries
being high most carmakers have found it hard to build cheap zero-emission cars
and as a result most of them have looked at collaborating with Chinese
companies to realize the dream. China on its end is looking to grow its
production of electric cars as a way of limiting its dependence on imported
fossil fuels.

In March this year Daimler agreed to work
together with Hangzhou based Geely in developing the next generation
Smart-branded cars. China is seen as a force in the development of electric
cars since Chinese companies dominate in the production of electronic and
electric equipment although they are still lagging behind when it comes to
technology related with internal combustion engine.

Regarding the investment Dailmer’s CEO Ola
Kallenius indicated that the Chinese market is very vital to the company’s
success not only in terms of sales but also in terms of product development and
production.

Published at Wed, 24 Jul 2019 12:01:55 +0000

Jushi Holdings Inc. Subsidiary Enters Management Services Agreement with Established Nevada Operator

Jushi Holdings Inc. Subsidiary Enters Management Services Agreement with Established Nevada Operator

 Jushi Holdings Inc. (NEO: JUSH.B), a globally-focused, multi-state cannabis and hemp operator, today announced that its subsidiary Production Excellence, LLC has received local City of North Las Vegas authorization to enter the greater Las Vegas, Nevada market under a management services agreement with Franklin Bioscience NV, LLC (“Franklin Bioscience Nevada”).  Pursuant to the transaction, Jushi has also completed the purchase of the real estate associated with Franklin Bioscience Nevada’s facility in North Las Vegas, Nevada.

Production Excellence has also entered into a purchase agreement to acquire 100% equity ownership of Franklin Bioscience Nevada, subject to state and local approvals. An application for change of ownership has already been submitted with the State of Nevada Department of Taxation and is pending.  As consideration for the acquisition, Production Excellence will purchase Franklin Bioscience NV, LLC’s licenses and related real estate for an aggregate purchase price of US$9.0 million in a combination of US$6.4 million in cash and US$2.6 million in promissory notes.

Franklin Bioscience Nevada holds medical and adult-use cannabis cultivation, processing and distribution licenses issued by the Nevada Department of Taxation and currently operates cultivation, production and distribution facilities in North Las Vegas, Nevada. It is expected that closing of the equity acquisition will occur during the second half of 2019, subject to receipt of applicable regulatory approvals.

The facilities acquired include two adjacent buildings with cultivation, manufacturing and distribution capabilities. The buildings may be combined and expanded further. Additionally, the Nevada Department of Agriculture issued Franklin Bioscience Nevada a Hemp Handler license. The award-winning operations team at The Clinic™, Jushi’s recently closed acquisition, will leverage its expertise with assisting Franklin Bioscience Nevada in building similar facilities to lead the expansion in Nevada.

Jim Cacioppo, Jushi CEO and Chairman, commented, “Nevada, particularly the greater Las Vegas region, is an important market for us. As one of the largest adult-use markets in the U.S., Nevada’s high tourist volume represents an opportunity for us to showcase our operational expertise and partner with other premier national brands as well as provide an ideal, central location for wholesale distribution. In Nevadawe endeavor to be vertically integrated, therefore it was critical we acquired strong production, cultivation and manufacturing capabilities as we prepare our retail strategy in this market.”

Mr. Cacioppo continued, “The Nevada Department of Agriculture Hemp Handler license will allow us to receive and process industrial hemp in accordance with Nevada regulations. This license is complimentary to the hemp CBD processing license we already have in place in New York.”

David Taeb, General Manager of Franklin Bioscience Nevada, stated, “We are pleased to partner with the team at Jushi to expand our offerings while continuing to support our current customers with the products they already know and love. We look forward to working closely with the Jushi team and together taking part in the rapid growth trajectory being experienced in Nevada.”

Las Vegas is one of the most visited cities in the world with approximately 60 million visitors annually and approximately 3 million residents, according to the Las Vegas Convention and Visitors Authority. Statewide, revenue for medical and adult-use cannabis, and cannabis-related tangible goods are expected to reach approximately US$800 million by 2022, according to Arcview Market Research and BDS Analytics.

About Jushi Holdings Inc.

We are a globally-focused cannabis and hemp company led by an industry leading management team. In the United States Jushi is focused on building a multi-state portfolio of branded cannabis and hemp-derived assets through opportunistic acquisitions, distressed work-outs and competitive applications. Jushi strives to maximize shareholder value while delivering high quality products across all levels of the cannabis and hemp ecosystem. For more information please visit www.jushico.com or our social media channels; Instagram, Facebook, Twitter and LinkedIn.

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 the Company’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company’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 are not limited to, information concerning the expectations regarding Jushi, or the ability of Jushi to successfully achieve business objectives, and expectations for other economic, business, and/or competitive factors.

By identifying such information and statements in this manner, the Company 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 the Company 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, the Company has made certain assumptions. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information and statements are the following: the ability of Jushi to successfully achieve business objectives, including with regulatory bodies, employees, suppliers, customers and competitors; changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws; and compliance with extensive government regulation, as well as other risks and uncertainties which are more fully described in the Company’s Filing Statement dated May 31, 2019 and other filings with securities and regulatory authorities which are available at www.sedar.com.  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 the Company 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. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company 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 the Company or persons acting on its behalf is expressly qualified in its entirety by this notice.

Not for distribution to United States newswire services or for dissemination in the United States.

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

SOURCE Jushi Holdings Inc.

View original content: http://www.newswire.ca/en/releases/archive/July2019/25/c2284.html

Investor Relations – Lisa Forman, Director of Investor Relations & Marketing, Investors@jushico.com, (646) 859-8397; KCSA Strategic Communications – Valter Pinto / Allison Soss, Jushi@KCSA.com, (212) 896-1254 / (212) 896-1267; Media Contact: KCSA Strategic Communications, Tim Gray / Danielle DeVoren, Jushi@KCSA.com, (212) 896-1251 / (212) 896-1272, www.jushico.comCopyright CNW Group 2019

Published at Thu, 25 Jul 2019 14:21:24 +0000






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