Merida Merger Corp. I Announces Pricing of USD$120 Million Initial Public Offering

Merida Merger Corp. I Announces Pricing of USD$120 Million Initial Public Offering

New York, NY, Nov. 04, 2019 (GLOBE NEWSWIRE) — PRESS RELEASE — PRESS RELEASE — Merida Merger Corp. I has announced that it priced its initial public offering of 12,000,000 units at USD$10.00 per unit. The units will commence trading Nov. 5, 2019 on Nasdaq under the symbol “MCMJU” and are expected to commence trading on the Neo Exchange Inc. (the NEO) on or about Nov. 8, subject to satisfying certain listing conditions, under the symbol “MMK.UN.” Each unit consists of one share of common stock of the company, and one-half of one redeemable warrant with each whole warrant entitling the holder to purchase one share of common stock at a price of USD$11.50 per share. Once the securities comprising the units begin separate trading, the common stock and warrants are expected to be traded on Nasdaq under the symbols “MCMJ”, and “MCMJW” and on the NEO under the symbols “MMK.U” and “MMK.WT.U”, respectively.

The underwriters have been granted a 45-day option to purchase up to an additional 1,800,000 units offered by the Company to cover over- allotments, if any.

The offering is expected to close on or about Nov. 7, 2019, subject to customary closing conditions.

EarlyBirdCapital, Inc. is acting as sole book-running manager of the offering. This offering is being made concurrently in each of the provinces of Canada except Québec and in the United States. EarlyBirdCapital has engaged Echelon Wealth Partners Inc. to act as its agent to offer the units in each of the provinces of Canada other than Québec.

A registration statement relating to these securities has been declared effective by the Securities and Exchange Commission on Nov. 4, 2019. The offering is being made only by means of a prospectus, copies of which may be obtained by contacting EarlyBirdCapital, Inc., 366 Madison Avenue, 8th Floor, New York, NY 10017, Attn: Syndicate Department, 212-661-0200. Copies of the registration statement can be accessed through the SEC’s website at www.sec.gov.

A Canadian final prospectus relating to up to 10,000,000 units of the offering has also been filed with securities commissions or similar authorities in each of the provinces of Canada other than Québec. The final prospectus contains important detailed information about the securities being offered. Copies of the final prospectus will be available on SEDAR at www.sedar.com. Copies of the final prospectus may also be obtained from Echelon Wealth Partners Inc., at ECM@echelonpartners.com. Investors should read the prospectus before making an investment decision.

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 these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Published at Wed, 06 Nov 2019 21:58:00 +0000

Westleaf Receives First White Label Order For Vape Pens

Westleaf Receives First White Label Order For Vape Pens

Westleaf Inc. (WL.V) (WSLFF) is pleased to announce that the conditions precedent to the white-label cannabis derivative product sale agreement between the Company’s wholly owned subsidiary Westleaf Labs LP and Delta 9 Cannabis Inc. (NINE.V) (VRNDF) (“Delta 9“) have been completed, and Westleaf Labs has received the first order from Delta 9 for an initial three-month supply of vape pens and cartridges. This first order represents anticipated revenue of ~$740,000 starting as early as January 2020.

“This is another important milestone in the development of Westleaf, as we add the critical processing and manufacturing component to our vertically integrated strategy,” said Scott Hurd, President and CEO of Westleaf. “This operationalizes a key component in the cannabis supply chain and one that we expect will see increase in demand as we enter Cannabis 2.0, and the legalization of a myriad of new products.”

The White-Label Agreement provides for Westleaf Labs to produce a minimum of ~$4 million of white labelled cannabis derivative products, with the option to increase to $16 million per annum. The one-year agreement was announced on July 24th and Westleaf Labs received its Health Canada Standard Processing Licence on October 11th and is set to begin processing.

Highlights:

  • Delta 9 Order –The initial order represents anticipated revenue of ~$740,000 over three months. The one-year deal commits Delta 9 to acquire a minimum of ~$4 million with an option to increase up to ~$16 million per year.
  • Enhanced Product Selection for Retail – The White-Label Agreement is expected to create value added products to be sold through both Delta 9’s retail stores in Manitoba, through Westleaf’s wholly-owned Prairie Records stores in Saskatchewan as well as through provincial wholesalers.
  • Safe and Regulated Products – The production of vape pens and cartridges at The Plant by Westleaf Labs, as well as the entire Westleaf supply chain, will be highly regulated and adhere to the strictest safety standards of Health Canada.

With the onset of Cannabis 2.0 and the legalization of a wide variety of new derivative cannabis products, Westleaf is expecting strong industry wide demand for efficient and high-quality extraction, processing and product manufacturing to meet the needs of the new product manufacturers.

About Westleaf Inc.

Westleaf is a Canadian cannabis company focused on cannabis brands, extraction and production of derivatives, wholly owned retail, as well as cannabis cultivation. The Company’s Health Canada licensed extraction and processing facility, The Plant, is expected to produce high quality and consistent cannabis derivatives and consumables, both for Westleaf’s in-house brands as well as white label products. Westleaf’s retail concept, Prairie Records, leverages the instinctual tie between recreational cannabis and music with stores operating or in development across Western Canada. The Company’s Thunderchild cultivation facility is scheduled for completion at the end of this year.

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

Cautionary 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 to, among other things, (i) retail cannabis stores that Westleaf plans to open; (ii) the construction of Westleaf’s production facilities and the timing for completion of same; (iii) commencement of production at Westleaf’s production facilities; (iv) commencement of operations at the Plant, its capacity to manufacture and extract cannabis derivative products and corresponding scalability, its ability to provide a competitive advantage by being adaptive to consumer needs and material revenue that may be derived from its operations; (v) products and brands to be produced from Westleaf’s production facilities and the products and services that Westleaf plans to offer; (vi) the anticipated benefits and impact of the production and sale of cannabis derivative products on Westleaf; (vii) anticipated revenue from the White-Label Agreement; and (ix) the processing and production capabilities of Westleaf’s extracting and cultivation facilities. 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: risks relating to the ability to obtain or maintain licenses to retail cannabis products; review of Westleaf’s production facilities by Health Canada and receipt of licenses from Health Canada in respect thereof; future legislative and regulatory developments involving cannabis, including the passing of regulations regarding derivative cannabis products; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the labour market generally and the ability to access, hire and retain employees; the ability of Westleaf’s production facilities to operate and perform at peak production; general business, economic, competitive, political and social uncertainties; the satisfaction of conditions precedent under Westleaf’s credit facilities; timing and completion of construction of Westleaf’s production facilities and retail locations; and the delay or failure to receive board, ATB Financial or regulatory approvals, including any approvals of the TSX Venture Exchange, as applicable. 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. Except as required by law, Westleaf assume no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

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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 Mon, 04 Nov 2019 13:13:50 +0000

South Dakota Groups Submit Petitions to Qualify Marijuana Reform Ballot Initiatives for the 2020 Election

South Dakota Groups Submit Petitions to Qualify Marijuana Reform Ballot Initiatives for the 2020 Election

LAS VEGAS, Nov. 4, 2019 /CNW/ – PRESS RELEASE – Flower One Holdings Inc., a Nevada-based cultivator, producer and full-service brand fulfillment partner, has announced that sales from its current operations are tracking strong with a compound weekly growth rate of 15 percent since the first official sale out of its flagship greenhouse facility on Aug. 5, 2019. The company is projecting to reach positive cash flow during the first half of 2020. 

Flower One’s continued success with the rapid execution of its Nevada operations is allowing the company to pursue measured expansion into California where it has commenced negotiations to purchase a 50-acre site, with an option to purchase up to an additional 150 acres adjacent to the initial site. The target property is located in an approved cannabis cultivation and production zone. More importantly, the site is at the advanced pre-development stage, with the majority of permitting work complete and all required utilities available and installed on site. In addition, Flower One believes the site includes some of the most favorable tiered tax structures in the State of California for any cannabis cultivation and production facility. These tax agreements provide the company with a major strategic lever to combine these tax-efficient economics with its proven operational cost-efficiencies to be a leading low-cost, large scale operator in the California cannabis market. For strategic and proprietary reasons, the company is not able to disclose details about the exact location of the property.

Subject to Flower One concluding such negotiations successfully, the advanced state of readiness of this site may allow Flower One to have a meaningful presence in the California cannabis market two years earlier than originally expected. The Company has prepared plans that would allow construction of Phase I, which would include a production facility, to begin by Q1 2020. The early commissioning of such a production facility would see the company generate revenue in California well in advance of its first harvest, through the purchase of existing, locally-sourced biomass.

“Our Nevada operations, at 455,000 square-feet today, represents one of the most advanced high-tech cannabis cultivation and production facilities anywhere in the world,” said Ken Villazor, president and CEO of Flower One. “This, along with the company’s clear sightline to positive cash flow, positions Flower One very well in its pursuit to become an industry leader in the U.S. cannabis sector. Strategically, we can now place some measured attention to our plans to expand into California. This property acquisition will put Flower One in a position to execute in California at scale and at an industry leading pace, which is exactly what we have done in Nevada. California is the largest cannabis economy in the world, with 39 million residents, 250 million visitors annually with 2019 cannabis revenues exceeding $3 billion dollars and expecting to rise to $7.2 billion dollars by 20241. It is a natural extension of our business based on our team’s extensive experience building and operating large-scale CPG fulfillment in the State of California”.

“Flower One has existing relationships with top California brands such as Kiva, Cookies and Old Pal. In fact, nine of our current 14 brand partners have their roots in California, and they represent the leading brands in cannabis today. This strong connectivity to major California cannabis brands, coupled with this strategic property acquisition, perfectly aligns with our business development and growth strategy for the U.S cannabis market. We are excited and looking forward to supporting cannabis brands and consumers with consistent, safe, high-quality cannabis at scale in California, arguably the most important cannabis market in the world”. 

The Flower One team includes best-in-class greenhouse, cultivation, production facility designers, builders, engineers and operators, including the General Contractor, the Dennis Group, who is under an exclusive partnership with Flower One. The California design is based on the company’s successful and proven 455,000 square-foot cannabis cultivation production facility in Nevada, the largest of its kind in the state. The Flower One team delivered this facility, from construction to first harvest in less than 14 months. Today, this facility is one of the most technology-driven cannabis operations in North America with yields exceeding original estimates by 85 percent and at an industry-leading cash cost of US $0.45/gram.

Flower One’s planned California facility under the current Conditional Use Permit amendment would allow for the initial facility to be up to 700,000 square-feet, of which 500,000 square feet would be available for cultivation. Based the company’s existing facility design in Nevada, such a California facility would produce approximately 400,000 pounds (182,000 kilograms) of high-quality flower and trim annually.

Published at Mon, 04 Nov 2019 19:30:00 +0000

Planet 13 Production Facility Begins Operations

Planet 13 Production Facility Begins Operations

Planet 13 Holdings Inc. (CSE: PLTH) (OTCQX: PLNHF), a leading vertically-integrated Nevada based cannabis company, announced today that it has been granted final permits to begin production at its 15,000 square foot customer-facing production facility co-located at the Planet 13 Cannabis Entertainment Complex.

Planet 13 Production Facility Begins Operations (CNW Group/Planet 13 Holdings Inc.)

“Since we opened the SuperStore and began serving approximately 2,000 customers per day, we haven’t been able to keep our inhouse brands in stock. Our new production facility will increase our production capacity by over ten times and help us to meet the demand. Currently, about 15% of SuperStore sales are Planet 13’s in-house brands, we expect with the increase in production capacity to be able to capture a much larger share of SuperStore sales and expand into the wholesale market,” said Bob Groesbeck, Co-CEO of Planet 13.

The Production Facility offers an immersive experience to customers, featuring 115 feet of windows where visitors can watch and learn what goes into the creation of individual products.  Interactive kiosks are available near the production viewing area to teach customers what goes into making their favourite product, offering Planet 13 a powerful branding opportunity.

The highly automated Production Facility utilizes robotics to lower costs and is capable of processing 600 lbs of plant biomass per day at full production, a throughput increase of approximately 1,300% from Planet 13’s current production facility. The expansion allows Planet 13 to increase the production of its existing TRENDI and Leaf & Vine vape and concentrate lines and begin production of its two new edible lines, HaHa Gummies and Dreamland Chocolates along with its beverage line, Elysium.

About Planet 13
Planet 13 (www.planet13holdings.com) is a vertically integrated cannabis company based in Nevada, with award-winning cultivation, production and dispensary operations in Las Vegas – the entertainment capital of the world. Planet 13’s mission is to build a recognizable global brand known for world-class dispensary operations and a creator of innovative cannabis products. Planet 13’s shares trade on the Canadian Stock Exchange (CSE) under the symbol PLTH and OTCQX under the symbol PLNHF.

Cautionary Note Regarding Forward-Looking Information

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 to, among other things, future expansion plans.

These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: final regulatory and other approvals or consents; fluctuations in general macroeconomic conditions; fluctuations in securities markets; expectations regarding the size of the Nevada cannabis market and changing consumer habits; the ability of the Company to successfully achieve its business objectives; plans for expansion; political and social uncertainties; inability to obtain adequate insurance to cover risks and hazards; and the presence of laws and regulations that may impose restrictions on cultivation, production, distribution and sale of cannabis and cannabis related products in the State of Nevada; and employee relations. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

The Company is indirectly involved in the manufacture, possession, use, sale and distribution of cannabis in the recreational and medicinal cannabis marketplace in the United States through its subsidiary MMDC. Local state laws where MMDC operates permit such activities however, these activities are currently illegal under United States federal law. Additional information regarding this and other risks and uncertainties relating to the Company’s business are contained under the heading “Risk Factors” in the Company’s annual information form dated April 30, 2019 filed on its issuer profile on SEDAR at www.sedar.com.

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

SOURCE Planet 13 Holdings Inc.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/November2019/01/c0342.html

LodeRock Advisors Inc., Planet 13 Investor Relations, mark.kuindersma@loderockadvisors.com (416) 519-2156 ext. 2230; Robert Groesbeck or Larry Scheffler, Co-Chief Executive Officers, ir@planet13lasvegas.comCopyright CNW Group 2019

Published at Fri, 01 Nov 2019 12:24:41 +0000

This Week In Cannabis Investing November 1st

This Week In Cannabis Investing November 1st

Halloween is now behind us. But there were plenty of “tricks” and “treats” to cover in the cannabis sector over this past week. We looked at imminent cannabis legalization in Mexico. Across the remainder of North America, it’s two steps forward, one step back.

While some cannabis jurisdictions are making real progress, others continue to stumble. U.S. support for cannabis legalization continues to grow, but regulatory roadblocks and political intransigence continue to undermine the legal industry.

Monday, we began with a look at “cannabis and social equity”. In the U.S. in particular, the legalization movement is increasingly being tied to calls for legal and economic compensation for the victims of cannabis Prohibition.

While we applaud the motives, we question the ideas here. Especially questionable are calls for special taxes and quotas within the cannabis industry to provide assistance for low-income individuals and visible minorities. The cannabis industry didn’t create Prohibition, that was government. It’s government – not private cannabis companies – that needs to foot the bill here.

Meanwhile, also on Monday, we looked at how the strong support for cannabis legalization in the U.S. hasn’t wavered. The significance of this is that months of fearmongering by the mainstream media over tainted vapes is not weakening support for cannabis legalization.

Here the people seem to be smarter than either the politicians or most media pundits. The illnesses and deaths from cannabis (and tobacco) vaping are a clear regulatory failure. The way to fix a regulatory failure is through legalization and proper regulation.

Tuesday, The Seed Investor was once again examining the California cannabis market. And the picture isn’t getting any prettier. Due to the incompetence of the state government and the anti-cannabis phobias of many of its counties, California’s cannabis black market is even larger today than before legalization.

We didn’t pull any punches. California’s government is killing legal cannabis in that state. And the state also bears a large chunk of the responsibility for tainted black market vapes.

Nationally, we looked at another problem in the U.S. cannabis industry on Tuesday: Mitch’s Mess. Legalizing hemp while keeping cannabis illegal has backfired on U.S. Senator Mitch McConnell. It has created chaos for U.S. law enforcement. The only solution? Full legalization. That’s funny and ironic.

We closed out Tuesday covering the latest news from Choom Holdings (CAN:CHOO / US:CHOOF). Choom confirmed the closing of its acquisition of Clarity Cannabis and its 10 retail locations in the province of Alberta.

Wednesday, we shifted our gaze south of the Rio Grande. Mexico is poised to become the next government to fully legalize cannabis nationally. While there has been a slight delay for further review, legalization is still imminent.

We took a closer look at proposed regulations. Much of it looks fairly similar to Canada’s regulatory structure. Slightly better in some respects, slightly worse in others. What’s a concern is that we still see governments repeating mistakes that successful cannabis jurisdictions (like Colorado) are already past.

Then it was back to Canada for important news – good and bad. On the positive side, British Columbia is in the process of doubling its total cannabis retail stores, up to 156. B.C. has been one of the laggards in legalization among Canada’s provinces.

Countering that progress was news from Quebec. Canada’s second largest province is raising the legal age to purchase cannabis to 21. There’s no “reason” or science behind this new law, just anti-cannabis politicians indulging their paranoia toward cannabis. The effect of this law is to force young adults in Quebec to buy their cannabis from the black market.

Thursday, we stepped back to take a broader look at the cannabis retail picture in Canada. With many provinces now much more active in opening stores, we wanted to bring investors up to date.
Ontario is planning to triple its cannabis stores. Quebec is doubling its total stores. And (as mentioned) B.C. is also doubling its cannabis stores. Alberta now has over 300 stores.

But problems remain. Ontario continues to stumble in the licensing process. Quebec is actually moving backwards in some respects. And while B.C. is opening many more stores, overall cannabis revenues are a cause for concern.

Friday, we led off with more interesting science concerning cannabis use and alcohol use. Cannabis is already helping to save lives by encouraging alcohol consumers to drink less (alcohol kills over 88,000 Americans per year). Now we’re learning that even for heavy drinkers, smoking cannabis can dramatically reduce alcohol-related diseases.

This will not only save lives. It can save enormous sums of healthcare dollars (through treating less alcohol-related diseases). In turn, this is why enlightened governments will start to actively promote cannabis usage among their adult population – as a safe alternative to alcohol (and tobacco).

We finished the week with a look at a medicinal cannabis market in the U.S. that is gaining momentum: Florida. However, while the state is headed in the right direction, it remains a cannabis underperformer in comparison to the U.S. as a whole. Once again, it’s the state politicians who are to blame.

It was a busy week in the world of cannabis. There was interesting news from both Ontario and Alberta that we weren’t able to get to this week – but will lead off our coverage next week. SAFE remains before the U.S. Senate and Cannabis 2.0 is still just beginning in Canada.

While the temperatures are cooling across most of the U.S. and Canada, the cannabis news flow in these countries continues to heat up.

DISCLOSURE: Choom Holdings is a client of The Seed Investor
 

Published at Sat, 02 Nov 2019 00:05:19 +0000

Namaste Technologies Announces Changes to Management and Board of Directors

Namaste Technologies Announces Changes to Management and Board of Directors

Namaste Technologies Inc. (TSXV: N) (FRANKFURT: M5BQ) (OTCMKTS: NXTTF), a leading online platform for cannabis products, accessories, and responsible education, is pleased to announce the appointment of Mr. Baran Dilaver to its board of directors and Ms. Annie Holmes as chief financial officer. Ms. Holmes succeeds Ken Ngo who will be leaving Namaste to pursue another opportunity.

“I would like to welcome both Mr. Dilaver and Ms. Holmes to the Namaste team as they bring extensive experience and capabilities as we move the Company into the next stage of growth,” said Meni Morim, CEO of Namaste Technologies. “The addition of Baran and Annie, two outstanding individuals with significant experience in cannabis, consumer packaged goods and financial strategies, will help drive the Company forward.”

Mr. Baran Dilaver is an entrepreneur, creator, and accomplished executive. He has served as CEO and COO at public and private companies, launched over a dozen well-known brands worldwide, and has developed many award-winning products for prominent institutions. His previous venture, Firefly Vapor, where he served as the COO and CMO, was recently sold to a larger company and the ensuing company went public in early 2019. Baran recently helped facilitate one of the largest Series A capital raises in cannabis, $35M for Mile High Labs, and co-founded FutureScape, a technology focused product design and branding firm, and AccessX, a boutique venture capital firm, focused on biotech and cannabis. Mr. Dilaver has an extensive background in cannabis and consumer packaged goods and is a frequent speaker at industry conferences. He studied Economics at the University of California, Berkeley, where he excelled in academics and athletics earning scholarships in both fields.

Ms. Annie Holmes is a strategic thinker with over 15 years of senior executive experience leading corporations through complex restructurings, international expansion and large capital transactions. As Principal of Chartered Course, she provided strategic and financial advice to public and private clients in both the domestic and international markets. She has held the position of chief financial officer for a number of private companies and senior financial roles with publicly traded Smart Employee Benefits Inc. and Katanga Mining Inc. Ms. Holmes received her ICD.D designation from the Rotman School of Management, holds a Bachelor of Arts Honours from the University of Toronto, and earned her Chartered Accountant designation with Grant Thornton.

In accordance with the terms of the consulting agreement between Namaste and Ms. Holmes providing for the provision of services as chief financial officer of the Company, Ms. Holmes is entitled to participate in the Company’s stock option plan. Subject to approval by the board of directors of the Company, Ms. Holmes will be granted stock options in connection with the commencement of her engagement. A subsequent news release disclosing the number of stock options to be granted to Ms. Holmes and the terms of such stock options will be disseminated upon approval by the board of directors.

Namaste also announces that Kenneth Jones has resigned from the Company’s board of directors. The Company would like to thank Mr. Jones and Mr. Ngo for their service and dedication and wish them well in their future endeavors.

About Namaste Technologies Inc.
With headquarters in Toronto, ON, and offices in both B.C. and around the globe, Namaste Technologies is the world’s leading online platform for cannabis products, accessories, and responsible education. The company’s ‘everything cannabis store’, CannMart.com, provides customers with a diverse selection of hand-picked products from a multitude of federally-licensed cultivators, all on one convenient site. Namaste’s global technology and continuous innovation address local needs in a burgeoning cannabis industry requiring smart solutions. For further information about Namaste, please visit NamasteTechnologies.com

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

NamasteTechnologies.com
NamasteMD.com
Cannmart.com
NamasteVapes.ca
Everyonedoesit.ca

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

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

Cision

View original content to download multimedia:http://www.prnewswire.com/news-releases/namaste-technologies-announces-changes-to-management-and-board-of-directors-300949835.html

SOURCE Namaste Technologies Inc.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/November2019/01/c1243.html

Incite Capital Markets, Eric Negraeff / Darren Seed, Ph: 604.493.2004; For Meni Morim, CEO, Email: ir@namastetechnologies.comCopyright CNW Group 2019

Published at Fri, 01 Nov 2019 12:33:36 +0000

John Boehner And Judge Jeanine: Rise In Cannabis Opportunities Leads To Head-Scratching Partnerships

John Boehner And Judge Jeanine: Rise In Cannabis Opportunities Leads To Head-Scratching Partnerships

As the cannabis space grows, so too does the list of noteworthy investors and brand representatives.

The early celebrity entrants were often cannabis advocates and users such as Snoop Dogg, Willie Nelson and Melissa Etheridge.

Today, the market expansion includes individuals from politics, business and entertainment.

They include former Speaker of the House John Boehner, who joined the board of Acreage Holdings Inc in 2018 after years of opposition to the plant. 

Boehner further about-faced in 2019 when he was named the honorary chairman of the National Cannabis Roundtable lobbying group.

Read More

Published at Thu, 31 Oct 2019 18:52:54 +0000

Three Products Added to Colorado’s List of Pesticides That Can Be Used on Cannabis

Three Products Added to Colorado’s List of Pesticides That Can Be Used on Cannabis

Kelowna, B.C., October 30, 2019 – PRESS RELEASE – Valens GroWorks Corp., a vertically integrated provider of extraction products and services, including a diverse suite of extraction methodologies, next generation cannabinoid delivery formats and an ISO 17025 accredited analytical lab, has announced a multi-year white label agreement with BRNT Ltd., a cannabis ancillary company, to launch a line of unique cannabis vape pens in Canada. Under the terms of the Agreement, Valens will provide high-quality cannabis extracts, filling services and national distribution of a line of custom-formulated BRNT-branded vape pens.

The initial term of the agreement will be for two years, with two successive one-year renewal options, and relates to the production and sale of a guaranteed minimum of 2.2 million BRNT-branded vape pens, with the gross revenue potential to Valens under the Agreement of over $50 million in the first two years, all subject to final acceptance from provincial distributors, including of the proposed price per unit. Under the terms of the agreement, the two parties will split economics through a profit share structure reflective of the respective efforts of each party.  Valens expects the first shipment under the agreement to take place in the first fiscal quarter of 2020. The company currently holds all required licensing from Health Canada to carry out its obligations under the Agreement.

BRNT is known for its rapid national growth, brand quality, industry experience and commitment to product excellence. BRNT currently participates in the ancillary products sector providing premium, high-quality cannabis accessories that are currently available in over 170 stores across Canada with international expansion underway including its newest line, Made By, a line of single-source cannabis extract vaporizers with uniquely designed hardware.

“As Valens begins official production of next generation products for Cannabis 2.0, we are excited to be collaborating with BRNT to bring to market a line of differentiated, high quality, concentrate vape products for Canadian consumers,” said Tyler Robson, CEO of Valens GroWorks. “BRNT has shown impressive sales growth and market understanding through its ancillary offerings. In pairing their retail and product knowledge with Valens’ processing and product development capabilities we believe this provides a solid foundation to provide a product with strong consumer appeal.”

“Valens has demonstrated a commitment to cannabis extraction on a global scale that is driven by passion and quality. It was a natural fit for BRNT to collaborate with Valens to bring the Made By vaporizers brand to life with a partner that can mirror our globally recognized signature design aesthetic and brand development capabilities,” said Simon Grigenas, CEO of BRNT Group. “BRNT and Valens are setting a new industry standard by creating meaningful brands and products through a focused, profitable approach, as opposed to the traditional vertical integration seen today.”

Published at Thu, 31 Oct 2019 18:25:00 +0000

Zenabis Global Inc (OTCMKTS:ZBISF) Posts Strong Cultivation Results In September

Zenabis Global Inc (OTCMKTS:ZBISF) Posts Strong Cultivation Results In September

Zenabis Global Inc (OTCMKTS:ZBISF) issued an update on cannabis production results. The company filed a license amendment application for its cultivation license, which will help its production capacity to hit 96,400 kg from 39,400 kg. This growth will be an outcome of expanded cultivation areas to 101,300 square feet for Zenabis Langley – Part 2A.

Zenabis Langley project Timeline

Zenabis has announced new construction timelines for its Zenabis
Langley project. Now it will be carried out in two phases, Zenabis Langley-Part
2B and Zenabis Langley-Part 2C. The license amendment for Part 2B will be
submitted in next month, while the license amendment for the next phase will be
out in February 2020. With this revised timeline, the company can preserve
cashflow and lower ramp-up risk. Completing the licensing at Zenabis Langley in
the second quarter of next year, the total cultivation capacity on an annual
basis will touch 143,200 kg of dried cannabis. The changes in the timeline for
Zenabis Langley will defer reaching full design capacity at the Zenabis
facility. Still, the company expects to achieve capacity of 96,400 kg by the
end of 2019. This is expected to increase to over 111,000 kg after the license
approval of Part 2B amendment.

Andrew Grieve, the CEO of Zenabis, expressed his optimism on the
recent production results. He stated that they were able to record exceptional
production results in September. The production output showed remarkable growth
as it surpassed the initial forecast by more than 21%. Performance Ratio declined
to 14.2% in September from 30%. The increase in the number of harvests from
licensed rooms helped the company to boost its performance.

As of now, the only challenge that the company face is that of rapid
scale-up and different cultivation approaches at Zenabis Atholville, which
results in room by room variance. The company expects this problem to offset
with steady-state production yields for each cultivar in the near-term. Zenabis
Atholville has been taking adequate measures to achieve general steady-state
operations by the end of 2019.

Published at Tue, 29 Oct 2019 12:05:01 +0000




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