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

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

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

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

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

TRANSACTION OVERVIEW

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

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

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

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

OPTION GRANT

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

ABOUT MEDCOLCANNA

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

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

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

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

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

Forward-Looking Statements

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

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

Female Founders in Their 50s Are Starting Cannabis Companies to Take Care of Their Own

Female Founders in Their 50s Are Starting Cannabis Companies to Take Care of Their Own

Jennifer Chapin, the cofounder of Kikoko, recently recalled how she was “laughed out of the dispensaries” when she tried to sell her low-dose cannabis-infused teas in her company’s early days. Three years later, Kikoko’s teas, which come in sachets and canisters wrapped with pink-and-purple stripes and cartoon flowers promising benefits such as “Sensuali-tea” and “Tranquili-tea,” are sold through over 300 storefronts and delivery services across California.

“We are a women-centric, women-owned, women-operated company,” Chapin declared to a room full of women at Arcview, a conference for cannabis investors, in Los Angeles in February. “By women, for women.”

Arcview welcomes investors irrespective of gender, but Kikoko had sponsored a women-only “tea party” (with unmedicated tea) to facilitate some female-friendly networking and announce that the company was seeking capital for expansion into new product categories, with minimum investments starting at $1 million.

Courtesy, Kikoko

Founders of female-focused cannabis startups like Kikoko may soon be laughing all the way to the bank—and they’re getting there by looking beyond millennials, and catering to women in their 40s, 50s, and beyond. Executives such as Chapin, who is 55, are listening to older women’s wishes for low-dose cannabis products that address concerns such as sleep, anxiety, and sexual pleasure, and positioning their companies at the very lucrative intersection of women, weed, and wellness.

Wellness, women, and weed

It’s a market that’s growing. Women control the majority of household purchases, and according to the US Consumer Expenditure Survey, single women over 45 spend about $640 per year on personal care items and $400 annually on drugs. As legalization takes hold, those products are increasingly likely to contain—or even be replaced by—cannabis. According to sales data and a survey of 4,000 cannabis consumers by the San Francisco-based delivery platform Eaze, the number of female cannabis consumers nearly doubled in 2018, and with their growth outpacing men, women are on track to be half of the cannabis market by 2022. Female baby boomers on the platform grew by nearly a quarter between 2017 and 2018.

Kimberly Kovacs, the cofounder and CEO of MyJane, which delivers “curated cannabis” boxes  to women (think Birchbox-meets-Eaze), was also at Arcview. That same week, her company was acquired by the cannabis logistics conglomerate MJIC for an undisclosed sum, after completing just three weeks of deliveries. MJIC CEO Sturges Karban was unabashed about the acquisition’s main attraction.

“Women are the new targets of the adult-use cannabis wellness sector,” wrote Karban, in a press release. “Yet their needs are not being addressed by the cannabis industry.”

“We don’t call that micro-dosing. We just call that normal.”

Getting stoned is not chief among those needs, Kovacs found when MyJane conducted a survey of women in Orange County, CA. When I asked what was, she didn’t skip a beat: “Sleep,” she said. “100%.”

“I don’t want to take an Ambien,” said Kovacs, who is 52, with blonde hair and clear blue eyes. “I don’t even want to take Melatonin … half a cup of tea, I sleep through the night.” (MyJane includes Kikoko tea amongst its offerings in its boxes.)

Courtesy, MyJane

In addition to better sleep, women told MyJane they were seeking relief from pain, anxiety, and stress. Many hadn’t used cannabis before and said they wanted their THC—the chemical compound that results in feeling high—in very low doses.

“By the way, we don’t call that micro-dosing,” said Kovacs. “We just call that normal.”

Ding-dong, Avon calling

Both Chapin and Kovacs referenced Avon—the 135-year-old cosmetics company known for its door-to-door saleswomen. “I don’t want to go to a dispensary,” said Kovacs. “I don’t even want to go to the grocery store anymore!”

“I don’t want to go to a dispensary. I don’t even want to go to the grocery store anymore!”

Instead, these companies strive to deliver both products and education in personal and familiar settings, outside dispensaries. Part of what they’re doing is teaching their customers how to use the range of new products available in the sector.

MyJane’s customers create online profiles answering questions about their symptoms, food allergies, preferences, and prior experience with cannabis. Then, a female “ambassador” from the company arrives at a customer’s doorstep on the agreed-upon date and time to deliver a box of selected products and walk the recipient through each one.

Kikoko’s teas are sold via dispensaries and delivery services, but the company also holds tea parties which include a “cannabis 101” slideshow about the plant’s history and benefits. Chapin estimates that in 2018, the company held over 100 of these events in private homes, country clubs, and retirement communities throughout California. (It was at a Kikiko tea party in Santa Monica that Chapin and Kovacs first met.)

Courtesy, Kikoko

Anyone for a cuppa?

Kikoko’s website has a page for people who want to host their own “High Tea Parties,” complete with downloadable images for invitations, tips (take public transit), and a Pinterest page of suggested menu items.

“We envision an army of women throughout the state of California,” said Chapin, of the consumers she hopes to recruit into hosting high teas.

Bridgett Davis, the founder of the Los Angeles-based cannabis topicals brand Big Momma’s Legacy, is also building a business based on older women customers—using a similar model of cohosting tea parties with local cannabis brands at private homes to slowly build her business from the ground up.

“It’s a group of maybe 10 to 15 of my golden girls,” she said of a typical event. “I have a variety of clients, from white ladies in Brentwood to old grandmas in Compton.”

Quartz/Jenni Avins

Bridgett Davis, the founder of Big Momma’s Legacy.

Davis agreed that a familiar setting and privacy were crucial to her customers, who use her salve and roll-on oil to ease the pain of rheumatism and sciatica, and said she’s counting on her “golden girls” to help her grow her business.

“I cannot ask for better brand ambassadors, and they’re not paid,” she said. “It’s grass-roots, and I’m building it bit by bit. When one of my seniors talks to their friend, their friend is listening.”

Riding the wellness wave

With the global wellness industry now worth an estimated $4 trillion worldwide, it’s little wonder that cannabis companies such as MyJane, Kikoko, and countless others position themselves as purveyors of supplies for self-care rather than recreation. And women—especially those in middle-age—are frequently caring not only for themselves, but also for their friends, children, and aging parents. (Kovacs told me she supplies her father with topicals for his arthritis, and her mother with tea for sleeping.) No wonder they’re tired.

Getty/manonallard

Don’t bogart that joint, girlfriend.

Both Kovacs and Chapin came to cannabis by way of a woman close to them suffering as a result of cancer. In Kovacs’ case, it was her mother-in-law, who eased her post-surgery pain and reduced her opioid use with cannabis. In Chapin’s, it was a dear friend who used edibles to aid her sleep and appetite, but was getting pummeled by high dosages. Both women saw the opportunity for products that spoke to women’s wellness.

Plus, noted MyJane cofounder Cara Raffele, “There’s a trust gap in healthcare for women.” Indeed, as Quartz’s Annaliese Griffin has written, that trust gap has made women particularly receptive to wellness brands that address their health concerns, respect their pain, and speak to them personally.

During her presentation at Arcview, Chapin said at one point, “we’re really tired of taking Ambien.” A women near me whispered under her breath: “That’s so me.”

Published at Mon, 20 May 2019 21:58:56 +0000

Supreme Cannabis Inc (OTCMKTS:SPRWF) Subsidiary To Receives Approval To Gain 50,000 Sqft Expansion

Supreme Cannabis Inc (OTCMKTS:SPRWF) Subsidiary To Receives Approval To Gain 50,000 Sqft Expansion

7ACRES, a subsidiary of Supreme Cannabis Inc (OTCMKTS:SPRWF), has received the approval of Health Canada for five additional flowering rooms. Supreme Cannabis made the announcement today outlining that the Ontario facility has been expanded by 50,000 sqft. The additional space will be important towards boosting the production capacity.

Details about the expansion

An official working at 7ACRES says that the expansion of flowering room space is from 180,000 sqft to 230,000 sqft. He adds that the estimated annual production will scale up from approximately 26,250kg to 33,580kg.

Supreme Cannabis hopes to witness further production efficiencies and it attributes that to the licensing of all 25 flowering rooms. The company projects that 7ACRES might be able to produce about 50,000kg.

The President and Founder of Supreme Cannabis John Fowler opines, “With five more flowering rooms at 7ACRES now approved by Health Canada, the finish line is in sight”.

The official adds that 7ACRES is currently working towards attaining full production capacity. If all moves according to plan, it might be able to fulfill the demand of the company’s top-notch cannabis.

Major developments in the course of this year

Supreme Cannabis has in the course of this year made other tremendous steps in business. The company unveiled Cambium Plant Sciences in Goderich, Ontario. Cambium is one of its wholly-owned subsidiaries and it will focus on revolutionizing the agricultural cannabis genetics. Asides from that, it will all work to redefine the cultivation economics and consumer experiences across the global cannabis industry.

Cambium focuses on the systematic application of technology, research, and science in its undertakings. It seeks to develop the next generation of premium cannabis genetics for medical, recreational and wellness applications. The subsidiary’s innovative mission is to serve the fast growing global cannabis market with the agriculturally-focused, disease resistant, premium seed stock.

The General Manager of Cambium Dr. Alan Darlington is optimistic that Cambium will make an important addition to the cannabis industry. He says that will be possible because they intend to revolutionize strain development. This move will enable them to enhance the wider industry’s outputs.

Supreme Cannabis says it has already set aside $14 million for the set up of a cannabis-focused facility. It will focus on cannabis research and innovation.

Published at Thu, 23 May 2019 12:01:42 +0000

How using marijuana could benefit your relationship

How using marijuana could benefit your relationship

So much for the lazy, snacking stoner stereotype.

New research reveals that cannabis use between couples increases might benefit their relationship, in the bedroom and beyond.

“We found robust support for these positive effects within two hours of when couples use marijuana together or in the presence of their partner,” says Maria Testa, a social psychologist at the University of Buffalo and the study’s lead author. “The findings were the same for both the male and female partners.”

What they call “intimacy events” include demonstrations of love, caring and support.

For the study, Testa and her colleagues found 183 married or cohabitating heterosexual couples that had been living together more than six months, with at least one partner who uses cannabis a minimum of twice a week. Participants were between 18 and 30-years-old, and had no history of mental illness or addiction.

Published at Thu, 23 May 2019 19:56:01 +0000

Marijuana Stocks Are the Talk of the Town on Wall Street

Marijuana Stocks Are the Talk of the Town on Wall Street

Marijuana stocks have garnered quite a bit of attention over the course of the past few months. In that time, we have seen investors become much more accustomed to the idea of putting money into the legal marijuana market. While it is still quite unstable just in terms of the overall infancy of the market, it does seem as though we are headed in the right direction. With cannabis stocks flying high, it seems as though the sky continues to be the limit in regard to the coming years.

Biome Grow Inc. (BIOIF/BIO.CN) is a company that operates with five wholly-owned subsidiaries. These subsidiaries are spread throughout Canada which gives them quite a large reach in terms of potential market share. The company has branches located in various provinces such as Newfoundland and Labrador, Ontario, Prince Edward Island and more. With this, they have been able to spread across some of the most crucial Canadian marijuana markets, which makes their impact that much greater.

Recently, the company announced that they have appointed Rita Their to their board of directors. For some context, Theil has quite a large background in the public and private sector and in terms of how they are regulated. Ms. Theil is also known as a corporate lawyer, which in the world of marijuana can come quite in handy.

Khurram Malik, CEO of Biome Grow stated that “Biome is excited to have Rita join our board of directors.  As with our current members of the Biome Board, she will bring considerable strategic value to the operations of the company beyond her duties as a board member. In particular, her extensive international mergers and acquisitions experience, risk matrix development, and advisory work with governments will play a key role as Biome looks to expand on its international cannabis footprint.” He went on to state that “in addition, her leadership in diversity and mentoring initiatives aligns well with our ‘Conscious Cannabis’ mantra as we continue to promote a culture of corporate social responsibility.”

This just goes to show Biome Grow’s continued effort to make their business reach the top. Investors should continue to keep a close eye on Biome Grow as these new additions to their team, only make them appear stronger in the long run and as a whole.

Charlotte’s Web Holdings (NASDAQOTH:CWBHF) is one of the leaders when it comes to the world of CBD. The company currently has its products which range from oils to capsules and creams, in over 6,000 retail locations. In addition, they have quite the reach on the digital level, which has accounted for around 50% of their total sales.

The company has worked tirelessly to bring the number of retail locations they service up from around 3,700 at the beginning of 2018, to where it is now. With so many options and so much potential for the coming years in the market, Charlotte’s Web Holdings is a new and different opportunity than most companies in the marijuana market.

which marijuana stocks to buy

Pursuant to an agreement between an affiliate of MAPH Enterprises, LLC (owners of MarijuanaStocks.com), Midam Ventures LLC and Biome Grow, Midam is being paid a total of $240,000 ($20,000 per month) for a period beginning on October 1, 2018, and ending on October 1, 2019. We own 0 shares of Biome Grow (BIO.CN). We may buy or sell additional shares of Biome Grow in the open market at any time, including before, during or after the Website and Information, to provide public dissemination of favorable Information about Biome Grow (BIO.CN).

Published at Thu, 23 May 2019 16:00:00 +0000

Female Founders in Their 50s Are Starting Cannabis Companies to Take Care of Their Own

Female Founders in Their 50s Are Starting Cannabis Companies to Take Care of Their Own

Jennifer Chapin, the cofounder of Kikoko, recently recalled how she was “laughed out of the dispensaries” when she tried to sell her low-dose cannabis-infused teas in her company’s early days. Three years later, Kikoko’s teas, which come in sachets and canisters wrapped with pink-and-purple stripes and cartoon flowers promising benefits such as “Sensuali-tea” and “Tranquili-tea,” are sold through over 300 storefronts and delivery services across California.

“We are a women-centric, women-owned, women-operated company,” Chapin declared to a room full of women at Arcview, a conference for cannabis investors, in Los Angeles in February. “By women, for women.”

Arcview welcomes investors irrespective of gender, but Kikoko had sponsored a women-only “tea party” (with unmedicated tea) to facilitate some female-friendly networking and announce that the company was seeking capital for expansion into new product categories, with minimum investments starting at $1 million.

Courtesy, Kikoko

Founders of female-focused cannabis startups like Kikoko may soon be laughing all the way to the bank—and they’re getting there by looking beyond millennials, and catering to women in their 40s, 50s, and beyond. Executives such as Chapin, who is 55, are listening to older women’s wishes for low-dose cannabis products that address concerns such as sleep, anxiety, and sexual pleasure, and positioning their companies at the very lucrative intersection of women, weed, and wellness.

Wellness, women, and weed

It’s a market that’s growing. Women control the majority of household purchases, and according to the US Consumer Expenditure Survey, single women over 45 spend about $640 per year on personal care items and $400 annually on drugs. As legalization takes hold, those products are increasingly likely to contain—or even be replaced by—cannabis. According to sales data and a survey of 4,000 cannabis consumers by the San Francisco-based delivery platform Eaze, the number of female cannabis consumers nearly doubled in 2018, and with their growth outpacing men, women are on track to be half of the cannabis market by 2022. Female baby boomers on the platform grew by nearly a quarter between 2017 and 2018.

Kimberly Kovacs, the cofounder and CEO of MyJane, which delivers “curated cannabis” boxes  to women (think Birchbox-meets-Eaze), was also at Arcview. That same week, her company was acquired by the cannabis logistics conglomerate MJIC for an undisclosed sum, after completing just three weeks of deliveries. MJIC CEO Sturges Karban was unabashed about the acquisition’s main attraction.

“Women are the new targets of the adult-use cannabis wellness sector,” wrote Karban, in a press release. “Yet their needs are not being addressed by the cannabis industry.”

“We don’t call that micro-dosing. We just call that normal.”

Getting stoned is not chief among those needs, Kovacs found when MyJane conducted a survey of women in Orange County, CA. When I asked what was, she didn’t skip a beat: “Sleep,” she said. “100%.”

“I don’t want to take an Ambien,” said Kovacs, who is 52, with blonde hair and clear blue eyes. “I don’t even want to take Melatonin … half a cup of tea, I sleep through the night.” (MyJane includes Kikoko tea amongst its offerings in its boxes.)

Courtesy, MyJane

In addition to better sleep, women told MyJane they were seeking relief from pain, anxiety, and stress. Many hadn’t used cannabis before and said they wanted their THC—the chemical compound that results in feeling high—in very low doses.

“By the way, we don’t call that micro-dosing,” said Kovacs. “We just call that normal.”

Ding-dong, Avon calling

Both Chapin and Kovacs referenced Avon—the 135-year-old cosmetics company known for its door-to-door saleswomen. “I don’t want to go to a dispensary,” said Kovacs. “I don’t even want to go to the grocery store anymore!”

“I don’t want to go to a dispensary. I don’t even want to go to the grocery store anymore!”

Instead, these companies strive to deliver both products and education in personal and familiar settings, outside dispensaries. Part of what they’re doing is teaching their customers how to use the range of new products available in the sector.

MyJane’s customers create online profiles answering questions about their symptoms, food allergies, preferences, and prior experience with cannabis. Then, a female “ambassador” from the company arrives at a customer’s doorstep on the agreed-upon date and time to deliver a box of selected products and walk the recipient through each one.

Kikoko’s teas are sold via dispensaries and delivery services, but the company also holds tea parties which include a “cannabis 101” slideshow about the plant’s history and benefits. Chapin estimates that in 2018, the company held over 100 of these events in private homes, country clubs, and retirement communities throughout California. (It was at a Kikiko tea party in Santa Monica that Chapin and Kovacs first met.)

Courtesy, Kikoko

Anyone for a cuppa?

Kikoko’s website has a page for people who want to host their own “High Tea Parties,” complete with downloadable images for invitations, tips (take public transit), and a Pinterest page of suggested menu items.

“We envision an army of women throughout the state of California,” said Chapin, of the consumers she hopes to recruit into hosting high teas.

Bridgett Davis, the founder of the Los Angeles-based cannabis topicals brand Big Momma’s Legacy, is also building a business based on older women customers—using a similar model of cohosting tea parties with local cannabis brands at private homes to slowly build her business from the ground up.

“It’s a group of maybe 10 to 15 of my golden girls,” she said of a typical event. “I have a variety of clients, from white ladies in Brentwood to old grandmas in Compton.”

Quartz/Jenni Avins

Bridgett Davis, the founder of Big Momma’s Legacy.

Davis agreed that a familiar setting and privacy were crucial to her customers, who use her salve and roll-on oil to ease the pain of rheumatism and sciatica, and said she’s counting on her “golden girls” to help her grow her business.

“I cannot ask for better brand ambassadors, and they’re not paid,” she said. “It’s grass-roots, and I’m building it bit by bit. When one of my seniors talks to their friend, their friend is listening.”

Riding the wellness wave

With the global wellness industry now worth an estimated $4 trillion worldwide, it’s little wonder that cannabis companies such as MyJane, Kikoko, and countless others position themselves as purveyors of supplies for self-care rather than recreation. And women—especially those in middle-age—are frequently caring not only for themselves, but also for their friends, children, and aging parents. (Kovacs told me she supplies her father with topicals for his arthritis, and her mother with tea for sleeping.) No wonder they’re tired.

Getty/manonallard

Don’t bogart that joint, girlfriend.

Both Kovacs and Chapin came to cannabis by way of a woman close to them suffering as a result of cancer. In Kovacs’ case, it was her mother-in-law, who eased her post-surgery pain and reduced her opioid use with cannabis. In Chapin’s, it was a dear friend who used edibles to aid her sleep and appetite, but was getting pummeled by high dosages. Both women saw the opportunity for products that spoke to women’s wellness.

Plus, noted MyJane cofounder Cara Raffele, “There’s a trust gap in healthcare for women.” Indeed, as Quartz’s Annaliese Griffin has written, that trust gap has made women particularly receptive to wellness brands that address their health concerns, respect their pain, and speak to them personally.

During her presentation at Arcview, Chapin said at one point, “we’re really tired of taking Ambien.” A women near me whispered under her breath: “That’s so me.”

Published at Mon, 20 May 2019 21:58:56 +0000

Pricing Concerns Top Hearing on Maine Recreational Cannabis Rules

Pricing Concerns Top Hearing on Maine Recreational Cannabis Rules

CHICO — The new Commercial Cannabis Advisory Committee met for the first time on Wednesday evening; the meeting was largely introductory and served as an overview of what the board hopes to accomplish in the next few months.

Members of the committee include City Council appointee and City Vice Mayor Alex Brown, representatives from the Downtown Chico Business Association, Chico State, Chico Unified School District, Butte County Public Health, and the Chico Chamber of Commerce, as well as a local cannabis expert, a local business owner and two community members-at-large.

Chico Mayor Randall Stone made a quick appearance at the start of the meeting, in which he told the assembled committee members that local marijuana regulation was a “challenging and certainly politically heated topic” but that he had faith in the board finding a solution that would work for both sides of the debate.

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Published at Thu, 23 May 2019 18:19:00 +0000

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

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

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

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

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

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

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

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

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

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

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

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

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

ON BEHALF OF THE BOARD OF DIRECTORS

“Charlie Kiser”

Charlie Kiser
Chief Executive Officer

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

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

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

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

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

Maine Hopes to Avoid Pitfalls During Marijuana Legalization Push

Maine Hopes to Avoid Pitfalls During Marijuana Legalization Push

The Massachusetts Cannabis Control Commission was all set to approve a Canadian company’s acquisition of Sira Naturals, but regulators pumped the brakes and called for greater scrutiny into the deal—and into similar deals moving forward.

In October 2018, Toronto-based Cannabis Strategies Acquisition Corp. announced that it would acquire Sira Naturals. The company trades on the Nasdaq, and its management team combined the Sira Naturals news with acquisitions of four other cannabis businesses in Nevada and Colorado. Cannabis Strategies Acquisition Corp. is a SPAC, which means that it leverages public investments for private equity transactions.

Sira Naturals holds vertically integrated licenses, and currently operates three dispensaries in the state.

The request to change ownership is a sensitive topic in Massachusetts and elsewhere right now, in light of rapid market consolidation and especially in light of a recent Boston Globe report on major companies asserting ownership of more than the allowable number of cannabis business in the state. Regulatory approval is needed to complete these M&A transactions in the cannabis space, and recent debates over the expanding scope of ownership for some multi-state operators has prompted questions about who’s moving into a particular state-legal cannabis market. 

At its May 16 meeting, the state’s Cannabis Control Commission pushed back on Cannabis Strategies Acquisition Corp. During the debate over the recommendation to approve this transaction, commissioners decide to pursue even more records from the Canadian company.

 

Commissioner Shaleen Title said, “It’s in the public’s interest to scrutinize these transactions.” 

She requested that the commission seek “all legal documents that address this transfers of ownership, whether public or not.”

Prior to the meeting, the commission’s leadership team had performed its required due diligence on the transaction and offered a recommendation to approve the deal.

“In this instance, I want to thank the staff,” she said. “I believe that you’ve gone above and beyond to review this transaction, to review hundreds of documents. I have full confidence in the staff, and I appreciate it. But as I look ahead, as this is the first time we reviewed a transaction like this, I’m thinking about establishing a fair and consistent process and I’m not sure that this is sustainable. The reason I’m focused on the process is because there is a long queue of these changes to be reviewed.”

The commission dug into what Title was looking for, pointing out that investor contracts and management agreements had already been requested. The group questioned what a “practical” request for legal documents—beyond what has already been released to the commission—would look like.

Chairman Steve Hoffman circumscribed Title’s amendment a bit, specifying that the commission would request all documents relevant to ownership, control and cap limitations. “We want these documents because we have specific issues or specific things that we’re concerned about and we want to make sure we’re comfortable with before taking a vote,” he said.

The other question became one of timelines: At what point does the process of regulatory scrutiny need to give way to a timely vote on the matter?

“We are not bound by any external deadline on this,” Hoffman said. “I think, however, in our decision-making, we should be cognizant that these deals do—some of them do have timelines, [and] that we will be causing economic impact if don’t approve or disapprove within a certain timeline.”

The commission delayed the vote on the change of ownership, and allowed Cannabis Strategic Acquisitions Corp. to return with more corporate documents within a week.

The commission will meet again May 30.

The commission also debated whether to bring in a third-party agency to probe these change-of-ownership acquisition deals.

Executive Director Shawn Collins, whose team oversees the due diligence process on changes of ownership, said that any third-party investigation into an acquisition would match the level of detail that his staff is already putting into the work. And the investigations into changes of ownership are just one portion of those staffers’ workload, which also includes facility inspections and application evaluations. He did say, however, that adding a layer of scrutiny would increase his team’s “bandwidth, scalability and the ability the turn around [investigations] faster.”

With an increasing pace of M&A moves around the cannabis industry, and with the Massachusetts Cannabis Control Commission already taking the lead on debating and scrutinizing those market forces, any lasting trends that emerge from conversations over ownership changes will be worth watching in all corners of the cannabis industry.

“For me, this is about fairness and consistency—not necessarily just this one,” Title said.

Published at Wed, 22 May 2019 15:56:00 +0000

Medical Marijuana Smuggling Charges Against Ex-Vireo Health Officers Upheld

Medical Marijuana Smuggling Charges Against Ex-Vireo Health Officers Upheld

The Massachusetts Cannabis Control Commission was all set to approve a Canadian company’s acquisition of Sira Naturals, but regulators pumped the brakes and called for greater scrutiny into the deal—and into similar deals moving forward.

In October 2018, Toronto-based Cannabis Strategies Acquisition Corp. announced that it would acquire Sira Naturals. The company trades on the Nasdaq, and its management team combined the Sira Naturals news with acquisitions of four other cannabis businesses in Nevada and Colorado. Cannabis Strategies Acquisition Corp. is a SPAC, which means that it leverages public investments for private equity transactions.

Sira Naturals holds vertically integrated licenses, and currently operates three dispensaries in the state.

The request to change ownership is a sensitive topic in Massachusetts and elsewhere right now, in light of rapid market consolidation and especially in light of a recent Boston Globe report on major companies asserting ownership of more than the allowable number of cannabis business in the state. Regulatory approval is needed to complete these M&A transactions in the cannabis space, and recent debates over the expanding scope of ownership for some multi-state operators has prompted questions about who’s moving into a particular state-legal cannabis market. 

At its May 16 meeting, the state’s Cannabis Control Commission pushed back on Cannabis Strategies Acquisition Corp. During the debate over the recommendation to approve this transaction, commissioners decide to pursue even more records from the Canadian company.

 

Commissioner Shaleen Title said, “It’s in the public’s interest to scrutinize these transactions.” 

She requested that the commission seek “all legal documents that address this transfers of ownership, whether public or not.”

Prior to the meeting, the commission’s leadership team had performed its required due diligence on the transaction and offered a recommendation to approve the deal.

“In this instance, I want to thank the staff,” she said. “I believe that you’ve gone above and beyond to review this transaction, to review hundreds of documents. I have full confidence in the staff, and I appreciate it. But as I look ahead, as this is the first time we reviewed a transaction like this, I’m thinking about establishing a fair and consistent process and I’m not sure that this is sustainable. The reason I’m focused on the process is because there is a long queue of these changes to be reviewed.”

The commission dug into what Title was looking for, pointing out that investor contracts and management agreements had already been requested. The group questioned what a “practical” request for legal documents—beyond what has already been released to the commission—would look like.

Chairman Steve Hoffman circumscribed Title’s amendment a bit, specifying that the commission would request all documents relevant to ownership, control and cap limitations. “We want these documents because we have specific issues or specific things that we’re concerned about and we want to make sure we’re comfortable with before taking a vote,” he said.

The other question became one of timelines: At what point does the process of regulatory scrutiny need to give way to a timely vote on the matter?

“We are not bound by any external deadline on this,” Hoffman said. “I think, however, in our decision-making, we should be cognizant that these deals do—some of them do have timelines, [and] that we will be causing economic impact if don’t approve or disapprove within a certain timeline.”

The commission delayed the vote on the change of ownership, and allowed Cannabis Strategic Acquisitions Corp. to return with more corporate documents within a week.

The commission will meet again May 30.

The commission also debated whether to bring in a third-party agency to probe these change-of-ownership acquisition deals.

Executive Director Shawn Collins, whose team oversees the due diligence process on changes of ownership, said that any third-party investigation into an acquisition would match the level of detail that his staff is already putting into the work. And the investigations into changes of ownership are just one portion of those staffers’ workload, which also includes facility inspections and application evaluations. He did say, however, that adding a layer of scrutiny would increase his team’s “bandwidth, scalability and the ability the turn around [investigations] faster.”

With an increasing pace of M&A moves around the cannabis industry, and with the Massachusetts Cannabis Control Commission already taking the lead on debating and scrutinizing those market forces, any lasting trends that emerge from conversations over ownership changes will be worth watching in all corners of the cannabis industry.

“For me, this is about fairness and consistency—not necessarily just this one,” Title said.

Published at Wed, 22 May 2019 15:59:00 +0000