MjLink Cannabis Business News and Press
The Marihuana Tax Act of 1937 Background: In the early 20th century, there was growing concern and debate surrounding the use and regulation of cannabis, often referred to as "marihuana" at the time. The Marihuana Tax Act was introduced as a response to these concerns and aimed to regulate and contr...
Ed Rosenthal is a prominent figure in the cannabis community, known for his expertise in cannabis cultivation and advocacy. He has played a significant role in advancing the understanding and cultivation techniques of cannabis plants. Rosenthal has authored numerous books on cannabis cultivation, in...
Jack Herer (1939-2010) was a prominent cannabis activist and author who played a significant role in the movement to decriminalize and legalize cannabis. He is best known for his book "The Emperor Wears No Clothes," which has become a seminal work on the history and benefits of hemp and cannabis. He...
It's been four months since the U.S. House of Representatives again approved a bipartisan bill to protect banks that work with state-legal marijuana businesses—but companion legislation has stalled in the Senate, and the House sponsor is getting impatient. While Rep. Ed Perlmutter (D-CO) says he app...
The company’s main Propagation Services Canada subsidiary has also rebranded as Boundary Bay Cannabis to coincide with the firm’s first cannabis crop harvest
AgraFlora Organics International Inc has announced that, effective on July 28, 2021, it will change its name to Agra Ventures Limited to reflect the “evolved vision and strategic direction” of the company under its current leadership.
The company said the Canadian Securities Exchange will publish a bulletin announcing the date of the name change, and the firm will begin trading under its new name on or about July 28, 2021. The shares will continue to trade under the “AGRA” ticker symbol on the Canadian Securities Exchange.
In addition, the company’s main subsidiary Propagation Services Canada has rebranded to Boundary Bay Cannabis to conjure up the picturesque setting in which its cannabis is grown in the Delta region, in British Columbia.
READ: AgraFlora says first wholesale crop at Delta greenhouse on track for sale at the end of summer
The deal is Audacious’s first entry into the CBD beverages category, which is estimated to reach $14.6 billion globally by 2026
Australis Capital Inc (CSE:AUSA) (OTCMKTS:AUSAF), which is doing business as Audacious, has announced that it is acquiring California cannabinoid beverages and edibles firm Gary Maverick Inc, which operates as LOOS, in an all-stock deal.
It is Las Vegas-based Audacious’s first entry into the CBD beverages category, which is estimated to reach nearly $1.4 billion in value in the US by 2023, and $14.6 billion globally by 2026.
LOOS sells a two-ounce drink (or shot) infused with 100mg of THC, in three flavors: Orange Crush Sativa, Green Dream Hybrid, and Lavender Indica. It also plans to release a number of other products across several key categories, including CBD-infused shots, shortly, according to Audacious.
READ: Australis Capital says Audacious Brands gets foothold in Massachusetts market in partnership with Belle Fleur and Rapper Weed
As part of the acquisition, LOOS founders Anthony Bendana and Ben Koppel will join Audacious in executive roles.
1933 Industries (CSE: TGIF – OTCQB: TGIFF) CEO Paul Rosen joined Steve Darling from Proactive to bring news the company has made a sharp turnaround that is shown in their Q3 financial numbers. Rosen sharing with Proactive, the company has Q3 2021 revenues of $3.4 million, compared to $2.6 million for Q3 2020. That accounts for a 32% increase. Expenses were $1.9 million for Q3 2021 and $5.6 million for Q3 2020, a decrease of 67%.
Rosen also said, the company’s balance sheet is much improved with Cash on April 30, 2021 was $5.9 million, compared to $2.8 million at July 31, 2020, an increase of 114%
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The supply agreement will enable Audacious Brands to continue to expand its MSO footprint, which now includes Nevada, Arizona, Oklahoma, Missouri, Washington, and Massachusetts
Australis Capital Inc. (CSE:AUSA) (OTCMKTS:AUSAF) has announced a supply agreement and, through its majority-owned subsidiary ALPS, a facility engineering and design services contract with Belle Fleur Holdings LLC.
The Nevada-based company, which now operates under the name Audacious Brands, said under the supply agreement Belle Fleur will dedicate a certain percentage of its canopy space for the cultivation of its proprietary cultivars under a cost-plus 5% agreement. The companies have agreed to jointly explore opportunities for brand collaboration and further expansion in the US.
READ: Australis Capital to change name to Audacious Brand and finalizes land purchase in Nevada
The supply agreement will enable Audacious Brands to continue to expand its multi-state operator (MSO) footprint, which now includes Nevada, Arizona, Oklahoma, Missouri, Washington, and Massachusetts. It anticipates entering additional US markets within the next few weeks.
The Nevada-based company will focus on its US adult market operations and will feature additional product lines under the new name
Australis Capital Inc (CSE:AUSA) (OTCMKTS:AUSAF) (FRA:AC4) said going forward, it will operate under the name Audacious Brand and will consolidate its product line under the Audacious banner.
The Nevada-based company will focus on its US adult market operations and will feature additional product lines under the new name.
Audacious Brand will continue to trade on the Canadian Securities Exchange and the OTC market under the same ticker symbols, AUSA and AUSAF, respectively.
READ: Australis Capital touts new study that shows medical cannabis can reduce opioid use, the progress of its subsidiaries and more in corporate update
A full brand rollout and launch is planned in the months ahead.
The company expects to sell the crop on a business-to-business basis to a licensed producer with a sales license, either on a predetermined or spot basis
AgraFlora Organics International Inc (CSE:AGRA) (FRA:PU31) (OTCPINK:AGFAF) CEO Elise Coppens told shareholders that the first wholesale crop growing at the Delta greenhouse in British Columbia is on track for processing and sale towards the end of summer this year.
In a letter to shareholders, Coppens said that the company has been focused on generating revenue through the sale of cannabis from the Delta facility.
AgraFlora is in a joint venture with Propagation Services Canada Inc (PSC), which operates a 2.2 million-square-foot greenhouse complex in Delta, British Columbia. The company has both an industrial hemp license and a standard cultivation license from Health Canada. Agraflora holds a 70% stake in PSC.
READ: AgraFlora Organics intends to be a top cannabis player in Canada and Europe
“The first wholesale crop growing at the Delta greenhouse is on track for its cultivation, drying, processing and sale toward the end of this summer,” said Coppens. “We expect to sell the crop on a business-to-business basis to an LP with a sales license, either on a predetermined or spot basis, depending on the crop’s quality and based on the results obtained via lab testing.”
The company expects to sell the crop on a business-to-business basis to a licensed producer with a sales license, on a predetermined or spot basis
AgraFlora Organics International Inc () (FRA:PU31) (OTCPINK:AGFAF) CEO Elise Coppens told shareholders that the first wholesale crop growing at the Delta greenhouse in British Columbia is on track for processing and sale towards the end of summer this year.
In a letter to shareholders, Coppens said that the company has been focused on generating revenue through the sale of cannabis from the Delta facility.
AgraFlora is in a joint venture with Propagation Services Canada Inc (PSC), which operates a 2.2 million-square-foot greenhouse complex in Delta, British Columbia. The company has both an industrial hemp license and a standard cultivation license from Health Canada. Agraflora holds a 70% stake in PSC.
READ: AgraFlora Organics intends to be a top cannabis player in Canada and Europe
“The first wholesale crop growing at the Delta greenhouse is on track for its cultivation, drying, processing and sale toward the end of this summer,” said Coppens. “We expect to sell the crop on a business-to-business basis to an LP with a sales license, either on a predetermined or spot basis, depending on the crop’s quality and based on the results obtained via lab testing.”
() () aims to build companies through early-stage, opportunistic, and diversified investments in the cannabis value chain in the US and abroad.
The Nevada-based company’s business and assets include investments in Cocoon Technology LLC, , Green Therapeutics LLC, Quality Green, Folium Biosciences, and land assets in Washington state and Michigan.
Australis was spun out from cannabis behemoth Aurora Cannabis Inc (TSE:ACB) (NYSE:ACB) in September 2018 as its US investment vehicle. Aurora is not allowed to invest in US cannabis assets due to Toronto Stock Exchange and NYSE listing rules. Australis is therefore Aurora’s arm to establish a foothold in the US, before a potential US federal legalization shift.
As part of the new strategy to scale up its award-winning brands across the US and global cannabis markets, the company has acquired a 51% interest in cash-flow-healthy ALPS - the world’s premier design, construction management, commissioning, and post-commissioning consultancy for horticultural crops such as cannabis.
Australis has also gone through the process of acquiring a 100% interest of the outstanding membership interest in Nevada-based cannabis cultivator Green Therapeutics.
Researchers found a strong correlation between reduced opioid use by heavy consumers and the adoption of medical cannabis in pain management regimes
Australis Capital Inc (CSE:AUSA) (OTC:AUSAF) issued a corporate update, highlighting a groundbreaking University of Alberta study medical cannabis study, a new chairman, Green Therapeutics' work in Nevada, among other news.
The objective of the study was to assess the effect of medical cannabis authorization on opioid use between 2013 and 2018 in Alberta, and researchers found a strong correlation between reduced opioid use by heavy consumers and the adoption of medical cannabis in pain management regimes.
"The findings of this study are profound in that they provide more information to physicians who are seeking to help patients reduce their dependency on opioids for pain management,” Chief Science Officer and study co-author Jason Dyck said in a statement. “This work may assist with helping clinicians combat the opioid crisis that is ongoing in our society."
READ: Australis Capital unveils new chief business development officer
The study was conducted on the largest global population of federally legal medical cannabis patients, whose medical cannabis and opioid use were tracked.
Leah S Bailey will be joining the company to drive commercial initiatives and provide leadership to its corporate development team
() () (FRA:AC4) said it has appointed Leah S Bailey as its chief business development officer to drive commercial initiatives and provide leadership to the company's corporate development team.
The cannabis group said with Bailey’s appointment, it is adding “a proven leader with a strong track record in driving revenues and profitability in both the cannabis and consumer packaged goods (CPG) sectors”.
READ: Australis Capital issues corporate update highlighting strong FY2021 revenue thanks to ALPS, plus New York legalization hopes
Before joining Australis, Bailey served as chief executive of Fluresh, a US vertically integrated cannabis company based in Michigan, where she built the operation and organization from a start-up to become one of the top cannabis businesses in the state.
Bailey also holds several directorships with companies such as well-known medical cannabis science group Tikun Olam USA and Scott's Liquid Gold, as well as serving as an operating partner for a social equity applicant for craft grow in Illinois.
Fitzmaurice brings more than 14 years of experience in accounting and financial control, serving both public and private companies
AgraFlora Organics International Inc (CSE:AGRA) (FRA:PU31) (OTCPINK:AGFAF) announced that it has appointed veteran executive Fiona Fitzmaurice as its new CFO.
Fitzmaurice brings more than 14 years of experience in accounting and financial control, the company said, serving both public and private companies. Fitzmaurice has previously worked as CFO of companies including MacDonald Mines Exploration Ltd., Pasofino Gold and Mojave Jane Brands. She also has extensive experience with corporate audits, prospectus filings, private placements, financings and corporate acquisitions.
AgraFlora’s former CFO, Peter Nguyen, has amicably agreed to depart the company in order to “facilitate Ms. Fitzmaurice’s transition as the new steward of AgraFlora’s finances,” the company said.
READ: AgraFlora Organics subsidiary starts supplying THC Teskits to Stadapharm GmbH in Germany
“On behalf of the board of directors, I am pleased to welcome Fiona to AgraFlora’s management team as we continue to evolve the company’s streamlined corporate strategy and execute on our near-term goal of generating revenues from our core assets,” CEO Elise Coppens said in a statement.
Following the legalization of recreational adult-use cannabis in New York, Australis said it is in discussions with a number of potential partners to enter a market expected to capture $1.2 billion in sales by 2023
() (OTC:AUSAF) has released a corporate update, revealing that its revenue for the fiscal year ended March 31, 2021, is expected to have doubled year-over-year, as well as highlighting a batch of other recent news developments.
A big reason for that, according to Australis’s CFO on Jon Paul, is the company's 51% stake in commercial crops facility management firm 2750176 Ontario Inc (ALPS), even though the deal was closed less than a month before the fiscal year ended.
"Despite ALPS only contributing approximately 3 weeks to our year-end, AUSA's revenues are anticipated to more than double for the entire fiscal year ended March 31, 2021,” Paul said in the update. “With an array of current projects in progress and an expanding pipeline of new projects anticipated to be signed, the impact of ALPS on the first quarter of our fiscal 2022 will be even greater.”
READ: Australis finds its first chief science officer in University of Alberta lead cardiologist Jason Dyck
“Meanwhile," the CFO added, "we expect the sale of a land asset held through our other acquisition, Green Therapeutics, to close shortly, which will add approximately C$2.5 million in cash to our working capital position. With the anticipated growth at ALPS and GT, as well as other liquid assets held, AUSA is in robust shape financially for its current level of operations."
The firm said the collaboration will result in expanded capacity and product lines at Copperstate’s facilities to service growing Arizona cannabis demand
Australis Capital Inc (CSE:AUSA) (OTCMKTS:AUSAF) (FRA:AC4) announced that through its majority-owned subsidiary ALPS, it has struck an agreement with Arizona's largest cannabis wholesaler, Copperstate Farms Management LLC for expanded capacity and expanded product lines.
Copperstate Farms operates a 40-acre, 1.7 million-square-foot greenhouse in Snowflake, Arizona, cultivating medical and adult-use cannabis. The contract with ALPS will have an initial term of two years and is expected to consist of two phases. “Total contract value over two years is anticipated to be up to $6 million,” said the company.
During the first phase of the expansion, Copperstate has contracted ALPS to implement “a full technology and workflow upgrade” of its facility with industrial greenhouse management solutions, cultivation practices, compliance upgrades and computerized maintenance management services through the firm's APIS offering. This is expected to boost yield and product quality, enabling Copperstate to meet growing demand in the Arizona market, said the company.
READ: Australis Capital completes first phase of Green Therapeutics acquisition with cannabis subsidiary purchase
Phase 1 will also include engineering support for the construction of a world-class processing and manufacturing facility operated by Copperstate Farms in Tempe, Arizona. This facility is in the same building as the Sol Flower dispensary, noted the company. As part of the contract, ALPS will support Copperstate Farms in achieving GMP compliance for the facility.
Dyck has a wealth of experience leading cannabis-related medical research and has deep connections and a high standing throughout the industry, the company said
() (OTC:AUSAF) (FRA:AC4) has appointed Jason Dyck, director of the Cardiovascular Research Centre at the University of Alberta, as its new chief science officer and chairman of its scientific advisory board, the company announced.
Dyck has a wealth of experience leading cannabis-related medical research and has deep connections and high standing in the industry, the company said. He previously led the research and science team at Aurora Cannabis Inc (NYSE:ACB) (TSE:ACB) (FRA:21P1) in its formative years, playing a significant role in helping it become the medical cannabis industry leader that it is today, Australis said.
The company’s appointments strategy is to leverage the roots of its management team in medical cannabis, while developing offerings and partnerships aimed at the medical and wellness markets.
READ: Australis Capital completes first phase of Green Therapeutics acquisition with cannabis subsidiary purchase
Dyck also established and co-directs a province-wide clinical heart failure research program called Alberta HEART that is a translational research program in heart failure.
The THC Testkit was developed and produced by Farmako in-house as a tool for pharmacists to detect THC and identify medical cannabis flowers and extracts easily, quickly and at low cost
AgraFlora Organics International Inc (CSE: AGRA) (FRA:PU31) (OTCPINK:AGFAF) announced that its German pharmaceutical wholesale subsidiary, Farmako GmbH, has begun supplying its proprietary THC Testkits to Stadapharm GmbH.
The THC Testkit was developed and produced by Farmako in-house as a tool for pharmacists to detect THC and identify medical cannabis flowers and extracts easily, quickly and at low cost, the company said.
Stadapharm, which is responsible for the specialty pharmaceuticals business within the German STADA Group, is expected to enter the medical cannabis market in the second quarter of 2021. The company plans to launch its own THC cannabis flower products and extracts and will also offer the Farmako THC Testkits, the company said.
READ: AgraFlora Organics CEO says recent asset sales give ‘us the financial flexibility’ to enter lucrative markets
“Katrin and everyone at Farmako continue to demonstrate their ingenuity and passion for the cannabis industry in Germany,” AgraFlora CEO Elise Coppens said in a statement. “I am very proud of the team and commend their efforts to develop the THC Testkit in-house, obtain patent protection, bring it to market and secure the supply agreement with Stadapharm.”
CEO Elise Coppens said AgraFlora is in “the best financial shape that it has been in over 24 months” after the sale of EIC and AAA Heidelberg
AgraFlora Organics International Inc (CSE:AGRA) (OTCMKTS:AGFAF) (FRA:PU31) CEO Elise Coppens told shareholders the “transformational sale” of two of its assets provided the company with the financial flexibility to look at entering more lucrative markets.
On Tuesday, AgraFlora struck an agreement to sell The Edibles & Infusions Corporation (EIC), an entity in which AgraFlora owns 43%, to Organigram Holdings Inc (TSE:OGI) (NASDAQ:OGI) (FRA:0OG) for $35 million.
Earlier this month, the Vancouver, British Columbia-based company which grows, distributes, and markets premium cannabis and cannabis-infused products, also struck a definitive agreement to sell its wholly-owned subsidiary AAA Heidelberg Inc (AAA) for around C$1 million in cash.
READ: AgraFlora and other owners to sell edibles business for $35M to Organigram Holdings
“It is always a difficult decision to sell a significant asset, however, the timing of our review of all company assets aligned well with the opportunity to receive the value that we did for this facility. Ultimately, the sale of AgraFlora’s share of EIC was a strategic decision,” Coppens said in a letter to shareholders.
