MjLink Cannabis Business News and Press
Stephenson has over 20 years’ experience in capital markets and managing public companies and was most recently chief financial officer (CFO) of Cura Cannabis Solutions
Asterion Cannabis Inc, the medical cannabis group, has named experienced industry executive Amy Stephenson as its chief investment officer.
Stephenson has over 20 years’ experience in capital markets and managing public companies. For 15 years, she was finance chief at public companies focusing on mergers and acquisitions (M&A) and IPO/RTO activities in several industries including cannabis, hemp, mining, oil and gas, agriculture, logistics and healthcare.
READ: Asterion Cannabis and its Australian subsidiary finalizing plans for first phase of $400 million project in Queensland
She was most recently chief financial officer (CFO) of Cura Cannabis Solutions, and has worked for Aurora Cannabis, Lineage Growth, The Green Organic Dutchman and Bedrocan. She was also instrumental in the Tweed merger with Bedrocan to form Canopy Growth, Asterion in a statement.
It noted also that Stephenson has diversified experience with numerous US cannabis companies and multi-state operators) involved in cultivation, extractions and edibles.
(CSE AUSA) (OTCPINK AUSAF) has completed the US$120,000 all-stock acquisition of Paytron LLC, a privately-held omnichannel payment services company.
In a statement, Australis said it plans to integrate Paytron with another company in its portfolio, Cocoon Technology LLC, which manufactures consumer-facing kiosks as stand-alone units or multi-unit pods for consumers and a mobile application and tablet for employees of cannabis retail locations.
Adding Paytron to the mix expands Cocoon’s payment acceptance, allowing it to capture additional revenue, it added. The acquisition includes all active merchant accounts, access to Fiserv and TSYS processing platforms, Paytron’s existing processing partnership with Magnify Payments as well as its reseller partnerships.
READ: Australis Capital's Cocoon Technology nears launch of kiosks in one of Nevada's largest cannabis retailers
"Paytron will have an immediate impact to Cocoon's current feature set and additional verticals in the future while accelerating Paytron's baseline business concurrently," VP of Payments Marc Ruben said in the statement.
"This is a fantastic opportunity for significant growth as an independent Merchant Services Provider in North America especially given recent business interruptions and evolving technologies."
Jase will be available for sale in licensed dispensaries this year
Propagation Services Canada, otherwise known as the 'Delta Facility', is a 2.2 million square foot commercial greenhouse
AgraFlora Organics International Inc () (OTCMKTS:AGFAF) revealed it has taken a further step towards gaining a cultivation licence for its large-scale commercial greenhouse in Delta, British Columbia.
In a statement, the international cannabis firm confirmed that it will deliver the cultivation license at its Delta Facility before the end of the second quarter this year, barring any material change in Health Canada’s service standards as a result of "prevailing socioeconomic conditions".
READ: AgraFlora Organics nabs Health Canada approval to launch Toronto CBD business
The group's Propagation Services Canada, otherwise known as the 'Delta Facility', is a 2.2 million square foot commercial greenhouse, aiming to reshape the Canadian market with high-potency, low-cost cannabis flower.
On April 3 this year, AgraFlora said the Delta Facility had submitted responses to the third request for more information (RMI) from Health Canada over the cultivation application.
The firm has reached a number of key milestones including achieving the first harvest from its new facility in Nevada and expanding cultivation and manufacturing at the California operation
1933 Industries Inc () (OTCQX:TGIFF), the cannabis goods company, said its expectations for strong revenue growth and profitability for fiscal 2021 remain on track as it posted its second-quarter numbers for 2020.
In the three months to January 31, the firm revealed it reached a number of key milestones including achieving the first harvest from its new facility in Nevada and expanding cultivation and manufacturing at the California operation under a deal with Green Spectrum Trading.
It also debuted its subsidiary AMA brand of THC concentrates and those of licensing partner Blonde into the California market.
READ: 1933 Industries marks the beginning of continuous cultivation in Nevada with second cannabis harvest underway
The quarter saw lower than expected revenue due to reduced sales for its cultivation arm as the group transitioned from the old facility to the new one and a slower than expected recovery of vape and distillate sales.
The company has entered into agreements with Watpac, a large and well-known contractor in Australia
Asterion Cannabis Inc and its wholly-owned subsidiary Asterion (Australia) Pty Ltd are finalizing the development, construction, maintenance and financing of the first phase of a $400 million greenhouse project in Toowoomba, Queensland.
In a statement Tuesday, the privately-owned Vancouver-based company said it has entered into an exclusive Definitive Association Agreement (DAA) with entities within the Limited group.
Watpac is a large and well-known contractor in Australia and part of the BESIX Group, a global construction, property development and concessions company.
READ: Asterion Cannabis welcomes business executive Robert Coltura to its board of directors
The DAA sets out a process for the parties to rapidly enter into design, construction and facilities maintenance agreements. As part of the DAA, Watpac will work with Asterion to finalize acceptable standard Australian commercial terms for these agreements and separately investigate opportunities for investment in the project.
The company has spent several months optimizing its new Las Vegas facility and enhancing its genetics programme
1933 Industries Inc () (OTCQX:TGIFF), a vertically-integrated cannabis consumer goods company, said on Monday that it has begun its second cannabis harvest from its cutivation facility in Las Vegas, Nevada.
In a statement, the Canadian company pointed out this marked the beginning of "continuous harvests" in Nevada as it swung into full production.
READ: 1933 Industries remains operational in Nevada as non-essential businesses ordered closed amid coronavirus
"This is an important milestone for our company ... We have spent several months optimizing the new Las Vegas facility, enhancing our genetics programme to develop varieties of strains and cultivars to meet the demands of our consumers and we are pleased with our progress to date,” said 1933 Industries CEO Chris Rebentisch.
“With the surge in demand during the (coronavirus) COVID-19 pandemic, we are working closely with the dispensaries and responding to our clients' needs,” he added.
SGSC has been working with partner farmers in the Candaian CBD business to optimize its harvest and maximize the subsequent CBD extraction
AgraFlora Organics International Inc () (OTCMKTS:AGFAF) said it's subsidiary Sustainable Growth Strategic Capital Corp has received approval from Health Canada to begin extraction at its Greater Toronto Area facility, under an amendment to its standard processing license.
SGSC has been working with partner farmers in the Canadian CBD business to optimize its harvest and maximize the subsequent CBD extraction. In March, the company conducted a trial extraction of hemp-biomass, which will be extracted by third-party services and sold as CBD crude oil, distillate and isolate.
SGSC also holds standard cultivation and medical sales licenses
.READ: AgraFlora Organics completes acquisition of Canadian cannabis producer Sanna Health Corp
Under the proposed agreement to form a joint venture, BevCanna will become the exclusive Canadian manufacturing partner for the newly launched Calexo line of beverages
() (OTCMKTS:AUSAF) aims to build companies through early-stage, opportunistic, and diversified investments in the cannabis value chain in the US and abroad.
Australis was spun out from cannabis behemoth Aurora Cannabis Inc (TSE:ACB) (NYSE:ACB) in September 2018 as its US investment vehicle. Despite boasting a C$9.2 billion market cap, 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.
Whereas Aurora is headquartered in Canada and has global assets, Australis’s US headquarters reflect its strategic focus on the burgeoning American marijuana industry.
The Nevada-headquartered firm has ten assets in the cannabis industry, four of which are wholly owned. This includes brands, such as Body & Mind, Mr Natural and Green Therapeutics. In addition to this, the company has invested in cannabis tracking and loyalty app developer rthm and in Wagner Dimas, which holds a number of patents for industrial-scaled pre-roll machines.
The current jewel in its portfolio is Cocoon Technology LLC, which manufactures consumer-facing kiosks as stand-alone units or multi-unit pods for consumers and a mobile application and tablet for employees of cannabis retail locations.
The seasoned Colorado executive has been an investor in Vancouver’s Cannabis One since 2016
Cannabis One Holdings Inc () is strengthening its board with the addition of veteran Colorado businessman C Regan Hauptman.
Hauptman, CEO of residential developer Remington Homes, has been an investor in Vancouver’s Cannabis One since 2016.
The Canadian cannabis company is commercializing a house of brands throughout North America, including its flagship brand, The Joint.
READ: Cannabis One Holdings kicks off cultivation at Fox Street facility
"I am pleased to accept a directorship with Cannabis One Holdings Inc and I look forward to contributing to the company's growth as it continues to expand its retail footprint and its infused product offerings across Nevada, Colorado, Oregon and Washington," Hauptman said in a statement on Wednesday.
The seasoned Colorado executive has been an investor in Vancouver’s Cannabis One since 2016
Cannabis One Holdings Inc () is strengthening its board with the addition of veteran Colorado businessman C Regan Hauptman.
Hauptman, CEO of residential developer Remington Homes, has been an investor in Vancouver’s Cannabis One since 2016.
The Canadian cannabis company is commercializing a house of brands throughout North America, including its flagship brand, The Joint.
READ: Cannabis One Holdings kicks off cultivation at Fox Street facility
"I am pleased to accept a directorship with Cannabis One Holdings Inc and I look forward to contributing to the company's growth as it continues to expand its retail footprint and its infused product offerings across Nevada, Colorado, Oregon and Washington," Hauptman said in a statement on Wednesday.
1933’s second cannabis harvest is on schedule for the end of March, but the company stressed that it would continue to monitor new coronavirus developments
1933 Industries Inc () (OTCMKTS:TGIFF), a Canadian cannabis consumer goods company with operations in Nevada, announced Wednesday that it will continue its operations in the US state after its governor ordered the closure of non-essential businesses to slow down the spread of the coronavirus (COVID-19).
Gov. Steve Sisolak’s order went to effect at noon Wednesday and covers the next 30 days, but the measure does not affect cannabis operators or licensed dispensaries.
"On behalf of our proprietary Alternative Medicine Association (AMA) and Canna Hemp brands as well as our licensing partners, I would like to reiterate our ongoing commitment to quality and safety by joining our communities in solidarity against the spread of COVID-19,” CEO Rebentisch said in a statement. “Our utmost priority is to ensure the health and well-being of our employees, partners and customers and we are taking the recommended steps to mitigate the risks of spreading the disease."
READ: 1933 Industries brings on The Green Organic Dutchman co-founder Jeannette VanderMarel as advisor
1933’s second cannabis harvest is on schedule for the end of March, but the company stressed that it would continue to monitor new developments.
Two years ago, its subsidiary Back Home struck a 24,000 kg three-year deal with the Province of Newfoundland and Labrador
Sanna Health, based in Toronto, operates a 16-acre, 27,000-square-foot Health Canada licensed cultivation and processing space
AgraFlora Organics International Inc () (OTCMKTS:AGFAF) has closed the acquisition of Candian cannabis company Sanna Health Corp, originally announced back in December.
Sanna Health, based in Toronto, operates a 16-acre, 27,000 sq ft Health Canada licensed cultivation and processing space. The company holds an option to expand its production to 89,000 sq ft in addition to more commercial-industrial space.
AgraFlora acquired all of the issued and outstanding shares of Sanna in exchange for 76,666,666 shares.
READ: AgraFlora Organics German subsidiary Farmako posts C$3.1M in FY2019 revenue
A glance at some of the day's highlights from the Proactive Investors US and Canada newswires
() (OCTMKTS:NTTHF) announced Wednesday it has produced battery-grade lithium carbonate at its pilot plant in Fiambala using concentrated brine from its wholly owned Tres Quebradas lithium project (3Q project) in Argentina's Catamarca province. In a statement, Neo Lithium said the brine was extracted from the high-grade zone located in the northern zone of the 3Q Project and then evaporated at the company's industrial-scale ponds at the same location under similar conditions as production scale. The company achieved 99.599% purity using an improved process, which may decrease operational and capital costs while minimizing reagent, water and power consumption.
The surge in market volatility triggered by the deadly coronavirus outbreak is prompting A/S (CPH:BIOPOR) to start a rights issue, which will allow for the subscription of up to 24,992,054 new shares, instead of going the route of a private placement. The move to strengthen the Danish in-vitro diagnostic company’s financial position is set to raise up to US$8.3 million or roughly 55 million in Danish Krones, and provides a subscription price of DKK2.20 per share ($0.33). All proceeds from the rights issue will be put towards funding ’s applications to the US Food and Drug Administration for clearance in 2020 of its flagship NGAL test, which provides an early risk assessment of acute kidney injury, as well as to raise awareness about the NGAL platform, particularly in the US.
MGX Renewables Inc, doing business as (), has settled the debt claimed by MGX Minerals Inc () (OCTMKTS:MGXMF) by agreement to pay to it $1.5 million over the next four months. Also as part of the settlement, MGX Minerals has agreed to sell to Zimtu Capital Corp 5.5 million shares of Zinc8 for $550,000 that are to be held in escrow and released over two years. The remaining Zinc8 shares in escrow will be retained by MGX Minerals. In other news, Jared Lazerson, the former CEO of Zinc8, has resigned as a director. The board of Zinc8 now is composed of CEO Ron MacDonald, Michael Reimann, Lyndon Patrick and David Hodge.
Newgioco Group (NASDAQ:NWGI), the sports betting and gaming group, has been forced to close about 150 of its betting shops across Italy in the wake of the outbreak of the deadly coronavirus in the Mediterranean country. However, CEO Michele Ciavarella says the company’s long-term fundamentals remain robust and Newgioco is still proceeding according to plan with its planned investments like the development of its US betting platform. Further financial updates, as well as earnings and the publishing of cash flow from operations, will be made available during the fiscal second quarter of this year.
This will boost Farmako’s supply and available portfolio range of high-quality medical cannabis products for German patients
AgraFlora Organics International Inc () (OCTMKTS:AGFAF) said Wednesday that its wholly-owned subsidiary Farmako GmbH has submitted an application to the regional authorities in Germany for EU Good Manufacturing Practice (EU-GMP) certification, and a manufacturing and import authorization (MIA) license under the German Medicinal Products Act.
In a statement, the diversified international cannabis company said that with the submission of its application documents, it anticipated the EU-GMP and MIA licensing processes to be completed by the summer.
If the company is successful in its bid to win MIA authorization and GMP certification, Farmako will be able to import medical cannabis products from outside the European Economic Community. The company said this will “dramatically increase” supply and allow Farmako greater flexibility — a key milestone as it scales its German and European medical cannabis distribution business.
READ: AgraFlora subsidiary Farmako GmbH wins special license to sell irradiated medical cannabis
“Germany has put in place the highest standards in the world to ensure the safety of the medical patient, as well as bolster trust that patients, physicians and pharmacists have in the program. As a result, it is very challenging for new businesses to enter the market which has created a limited amount of medical cannabis supply for the German marketplace,” said Farmako CEO Katrin Eckmans.
'The cannabis market has changed significantly over the past year, and we recognize that our initial capital-intensive strategy no longer makes sense in this environment,' CEO Khurram Malik said
Targets, acquires and legitimizes legacy cannabis assets purchased at discounted purchase prices
Flagship Hona brand continues to exceed management’s expectations
Cannabis One Holdings Inc () (OTCMKTS:CAAOF) is a Denver-headquartered cannabis company that focuses on aggregating cannabis retail distribution and brand manufacturing.
The company is expanding its footprint across the US as it tackles the goal of becoming a premier house of brands, embodied by its tagline: "If we brand it, they will come."
Cannabis One is focused on a house-of-brands approach, meaning it is home to numerous brands, independent of one another as it seeks to capitalize on a unique arbitrage opportunity. Its goal is to target, acquire, and legitimize (and grow) legacy cannabis assets.
Targets, acquires and legitimizes legacy cannabis assets purchased at discounted purchase prices
Flagship Hona brand continues to exceed management’s expectations
Cannabis One Holdings Inc () (OTCMKTS:CAAOF) is a Denver-headquartered cannabis company that focuses on aggregating cannabis retail distribution and brand manufacturing.
The company is expanding its footprint across the US as it tackles the goal of becoming a premier house of brands, embodied by its tagline: "If we brand it, they will come."
Cannabis One is focused on a house-of-brands approach, meaning it is home to numerous brands, independent of one another as it seeks to capitalize on a unique arbitrage opportunity. Its goal is to target, acquire, and legitimize (and grow) legacy cannabis assets.