MjLink Cannabis Business News and Press
AgraFlora Organics International Inc () (OCTMKTS:AGFAF) revealed it is to acquire a portfolio of elite live-plant cannabis genetics from an award-winning cultivator to disrupt the Canadian dried flower market.
The deal has been struck by subsidiary Propagation Services Canada Inc (PSC), which is co-owned by AgraFlora and the Houwelings Group. The latter is one of North America’s leading greenhouse vegetable producers.
READ: AgraFlora taps cannabis industry veteran to drive asset commercialization
PSC’s investment in elite Live-Plant Genetics is expected to generate a positive impact on the three key drivers of profitability for a cultivator: improved sales prices, greater per-plant yields and shorter flowering time, Vancouver-based AgraFlora said in a statement.
"Management believes the Canadian market has suffered from a lack of strong genetics resulting in low THC values, undesirable flavour profiles, and a lack of product differentiation."
AgraFlora also noted that the move will expedite its go-to-market timeline because live-Plant Genetics can be immediately put into production whereas seed-based genetics require at least one preliminary selection crop cycle, which can take up to six months.
John Fowler and his team will help spot accretive corporate opportunities in domestic and international markets
AgraFlora Organics International Inc () (OCTMKTS:AGFAF), a diversified international cannabis company, said Thursday that it had engaged seasoned cannabis industry executive John Fowler to drive asset commercialization and shareholder value creation.
In a statement, the company said it is “pleased” to welcome Fowler, who is the founder of one of Canada’s top consumer brands 7ACRES and CEO of the () from 2014 to 2019.
Fowler is a principal of Blaise Ventures Inc, a full-service consulting firm which has been engaged to support the execution of AgraFlora’s strategic priorities to “license, operationalize and solidify” a path to profitability for the company’s key assets.
READ: AgraFlora subsidiary Farmako GmbH wins special license to sell irradiated medical cannabis
A growth-oriented and diversified cannabis company, Vancouver-based AgraFlora owns an indoor cultivation facility in London, Ontario, as well as the edibles manufacturing facility in Winnipeg. The company is also a joint venture partner in Propagation Services Canada Inc (PSC), which operates a 2.2 million-square-foot greenhouse complex in Delta, British Columbia.
THRIVE Cannabis Marketplace, one of Nevada’s largest cannabis retailers, ordered 32 kiosks
Cannabis stocks stayed mostly flat on Wednesday as North American markets began to reverse a two-day plunge at the start of the week.
The North American Marijuana Index, which tracks the top cannabis stocks in the US and Canada, lost 0.5% to 92.4 points. Elsewhere, the Horizons Marijuana Life Sciences Index ETF rose 0.6% to C$7.91, while the OTCQX Cannabis index slid 0.9% to 367.6 points.
Buds
() (OTCMKTS:AUSAF) shares climbed Wednesday after announcing that its subsidiary Cocoon Technology LLC is closing in on launching its proprietary kiosks with THRIVE Cannabis Marketplace, one of Nevada’s largest cannabis retailers.
THRIVE has ordered 32 CocoonPod kiosks for eight locations, starting with a pilot location in North Las Vegas.
VanderMarel is also former CEO of publicly-listed 48North Cannabis Inc and Beleave Kannabis
1933 Industries Inc () (OTCMKTS:TGIFF) has appointed cannabis entrepreneur Jeannette VanderMarel as an advisor to the consumer packaged goods company, it said Wednesday.
VanderMarel will advise on business development and corporate governance, 1933 told shareholders.
A former CEO of publicly-listed () (OTCMKTS:NCNNF) and Beleave Kannabis, VanderMarel also co-founded The Green Organic Dutchman Holdings () (OTCMKTS:TGODF), one of the country’s first licensed producers of medical cannabis.
READ: 1933 Industries harvests first commercial cannabis crop in California, expands Canna Hemp distribution
Before getting into the cannabis sector, VanderMarel worked as a critical-care and pediatric intensive care nurse. Her daughter’s battle with a form of epilepsy known as Dravet syndrome inspired her to follow a career path into the cannabis sector.
It completed the final phase of development and testing ahead of the platform’s deployment at THRIVE Cannabis Marketplace
() (OTCMKTS:AUSAF) said Wednesday that its subsidiary Cocoon Technology LLC is closing in on launching its proprietary kiosks with one of Nevada’s largest cannabis retailers.
The Las Vegas-based company said that Cocoon had completed the final phase of development and testing ahead of the platform’s deployment at THRIVE Cannabis Marketplace, the state’s largest independent retailer.
Cocoon’s pods are expected to be ready in-store by April 2020.
READ: Australis Capital's Cocoon Technology partners with THRIVE Cannabis Marketplace to install kiosks across Nevada
In early December, Cocoon announced it had entered into an agreement with THRIVE Cannabis Marketplace to install its Platform-as-a-Service systems in the dispensary’s eight existing locations, with more to come over the deal’s four-year term.
The infused beverage expert is poised to commercialize operations and generate substantial revenue this year
Australis said it has decided not to go forward with its previously announced merger with cannabinoid producer and distributor
() (OTC:AUSAF) has opted not to go forward with its previously announced merger with cannabinoid producer and distributor Folium Equity Holding LLC.
The deal, announced on December 10, would have seen Folium become a wholly owned subsidiary.
Australis said in a statement Tuesday that it “discovered new relevant information with regard to Folium” and decided to reverse course.
READ: Australis Capital signs Letter of Intent to acquire payments provider Paytron
"AUSA continues to lean heavily on corporate governance and our vision to navigate through an incredibly unpredictable market over the past 12 months," CEO Scott Dowty said in a statement. "With over $38.2 million in cash, liquid assets and other assets that can easily be converted into cash within a short amount of time and $5.2 million annual burn excluding charges from capital projects and one-time occurrence, AUSA has a very strong financial position.”
It is gearing up to receive its standard processing license and kicking off full-scale commercialization this year
It can now import medical cannabis that is EU-GMP certified and sterilized by irradiation
AgraFlora Organics International Inc () (OCTMKTS:AGFAF) said Tuesday that its wholly-owned subsidiary, Farmako GmbH has secured a special authorization from the German Federal Institute for Drugs and Medical Devices for the distribution of medical cannabis flowers that have undergone an ionizing radiation treatment (AMRadV license).
This is a critical milestone for Farmako, as the German medical cannabis wholesaler will now be able to import for sale in Germany medical cannabis that is EU-GMP certified, but which has been subject to sterilization by irradiation.
With the stringent safety requirements imposed by Health Canada, many licensed cannabis producers use irradiation to ensure their products are contaminant-free. In fact, industry experts have estimated that over 80% of licensed producers use irradiation to sterilize their product.
READ: AgraFlora Organics wins controlled drug license in the UK
To date, the German medical cannabis market has been undersupplied due to a number of factors, including the general scarcity of EU-GMP certified cannabis flowers available in the international market. The supply shortage is made worse because many EU-GMP exporting jurisdictions, such as Canada, commonly require the use of microbial sterilization prior to sale. Without the AMRadV license, such sterilized cannabis could not be made available for sale in Germany’s medical cannabis program.
A glance at some of the day's highlights from the Proactive Investors US and Canada newswires
Helix BioPharma Corp () CEO Heman Chao will be presenting at Noble Capital Markets’ investor conference in Hollywood, Florida on February 17, the company said Friday. Chao will also sit on a panel entitled “Cancer Treatment: Tackling the disease through innovative strategies,” to discuss new therapies to combat cancer. Helix was also selected to present to Noble Capital Markets Life Sciences Scientific and Advisory Board (“LSAB”), in an invitation only event comprised of world-class healthcare professionals with extensive experience in the medical and pharmaceutical industries.
Newrange Gold Corp () (OTCMKTS:NRGOF) offers investors exposure to an early stage explorer with significant gold and silver discovery potential, says Noble Capital Markets, which has started covering the stock with an 'outperform' rating. It is targeting C$0.25 a share, which is more than double the firm's current share price of C$0.12. The firm's assets are the Pamlico project in Nevada, which allows it to explore and develop a district-scale gold deposit over multiple targets. The company also recently enlarged its footprint in the Red Lake area in Ontario with a new option agreement to earn 100% of the H Lake property from Bounty Gold Corp.
EnWave Corporation () (OTCMKTS:NWVCF) has agreed to slim down its Equipment Purchase Agreement with The Green Organic Dutchman Holdings Ltd () (OTCMKTS:TGODF) subsidiary Medican Organic Inc. Under the original deal, signed in March 2019, TGOD purchased three of EnWave’s 120kW Radiant Energy Vacuum dehydrating machines for its Valleyfield, Quebec cannabis facility. Now, at TGOD’s request, the parties have agreed to shrink the deal to one machine. TGOD has already paid in full for one machine and partially paid for the new machines no longer part of the agreement. The funds paid in connection to the two cancelled machines covers the costs absorbed by EnWave, the company said.
OTC Markets Group Inc () is congratulating lawmakers for introducing bipartisan legislation on Tuesday that would help qualified public companies trading on an over-the-counter market to offer Employee Stock Ownership Plans (ESOPs). The ESOP Fairness Act (S.3270) (H.R.5851) was put forth simultaneously by Senators Thom Tillis (R-NC) and Gary Peters (D-MI) and Representatives Mike Kelly (R-PA-16) and Brian Higgins (D-NY-26) in the House.
Canutra Naturals Ltd is a hemp technology company and part of the AgraFlora group of companies
AgraFlora Organics International Inc () (OCTMKTS:AGFAF), the international cannabis group, has hired marketing firm Gatekeeper Growth to drive sales of its Whole Hemp Health products on the likes of retail giant Amazon () and other platforms, sending shares surging.
The products are a proprietary line of hemp-derived cosmetic products developed and made by Canutra Naturals - a wholly-owned subsidiary of AgraFlora.
"We are pleased that we conform with Gatekeeper’s strict product criteria and to be selected as a partner to their proven sales model, which de-risks our online advertising strategy," said Canutra's CEO Tony Harris.
READ: AgraFlora Organics to complete construction at its Winnipeg edibles facility in 60 days
"Gatekeeper only selects a few clients per year to partner with, and it is a testament to the quality and market potential of our products that they have chosen to work with Whole Hemp Health."
The harvest will be utilized for AMA premium packaged flower, pre-rolls and Blonde cannabis products
1933 Industries Inc () (OTCMKTS:TGIFF) said Friday that its first harvest of commercial cannabis from California is underway and it has also started distributing California-compliant full spectrum Canna Hemp products to dispensaries in the Golden State.
In a statement, the company said the harvest marks the California debut of AMA and Blonde cannabis products.
Following the news, shares rose 12% to C$0.19 apiece in Canada and 10% to US$0.14 in New York.
1993 Industries, based in Chilliwack, British Columbia, has a 20,000-square feet cultivation, extraction, manufacturing and distribution facility in the Los Angeles area, and has harvested its first cannabis crop this week. The harvest will go into its Alternative Medicine Association (AMA) brand, as well as its licensing partner, luxury brand Blonde cannabis, with products earmarked for dispensaries for the first time outside Nevada.
It advances a partnership with a leading cannabis cultivator to grow certified organic sun-grown cannabis
BevCanna Enterprises and Nextleaf Solutions to use nano-delivery technology in CBD-infused beverages
They announced a partnership in September to commercialize BevCanna’s line of infused beverages using Nextleaf’s technology
BNN Bloomberg reported that Aurora Cannabis is the next major firm to slash its workforce
Paytron offers merchant services, including credit and debit card processing, secure gateway processing, point of sale hardware, card terminals and business loans
() (OTCMKTS:AUSAF), which operates and builds differentiated cannabis companies, has inked a non-binding letter of intent to acquire payment services provider Paytron LLC.
Paytron will continue to operate as an independent sales organization (ISO) while also becoming the payment branch for Cocoon Technology LLC, an Australis portfolio company that provides self-service technology to cannabis companies.
The firm offers merchant services, including credit and debit card processing, secure gateway processing, point of sale hardware, card terminals and business loans.
READ: Australis Capital names Alex Han as interim CFO after Carlotti's departure
As part of the acquisition, the company announced that Marc Ruben will join the AUSA team as vice president of payments.
The large, GMP-certified Winnipeg edibles manufacturing facility, is at the heart of its manufacturing strategy
AgraFlora Organics International Inc () (OCTMKTS:AGFAF) indicated Wednesday that construction at its 51,500-square foot edibles-manufacturing facility and research lab in Winnipeg, Manitoba, would be completed in the next 60 days, with 75% of the work already finished.
AgraFlora’s GMP-certified Winnipeg edibles facility, at the heart of the company’s manufacturing strategy, is undergoing a retrofit which should be completed in early 2020.
Vancouver-based AgraFlora expects the Winnipeg edibles facility to submit its Health Canada affirmation of readiness and video evidence package after rounding out construction. The company is working with industry experts to manage the timing and quality of the evidence package submission. It expects the standard processing license to be granted for the Winnipeg edibles manufacturing facility by summer 2020.
READ: AgraFlora Organics intends to be a top cannabis player in Canada and Europe
“Completing the construction and licensing of the Winnipeg edibles facility is a strategic priority for AgraFlora in 2020,” said AgraFlora Organics CEO Brandon Boddy in a statement.
This will boost its Colorado flower production by 200%, with the first harvest expected in March
Cannabis One Holdings Inc () (OTCMKTS:CAAOF) said Tuesday that it has completed the construction and building out a second branded flower cultivation facility, also known as Fox Street.
In a statement, the Denver-headquartered cannabis company said Fox Street is a 13,000 square foot craft quality cultivation facility that can produce 4,800 pounds of flower per year, boosting capacity by nearly 200%.
This will allow Cannabis One Holdings to crack average monthly flower production of 600 pounds, leading to annual topline Colorado cultivation revenue of US$11,700,000 and gross profit of US$7,560,000 at current Colorado per pound averages of US$1,500, said the company.
The first harvest is expected in March, with monthly harvests expected from thereon.
This will boost its Colorado flower production by 200%, with the first harvest expected in March
Cannabis One Holdings Inc () (OTCMKTS:CAAOF) said Tuesday that it has completed the construction and building out a second branded flower cultivation facility, also known as Fox Street.
In a statement, the Denver-headquartered cannabis company said Fox Street is a 13,000 square foot craft quality cultivation facility that can produce 4,800 pounds of flower per year, boosting capacity by nearly 200%.
This will allow Cannabis One Holdings to crack average monthly flower production of 600 pounds, leading to annual topline Colorado cultivation revenue of US$11,700,000 and gross profit of US$7,560,000 at current Colorado per pound averages of US$1,500, said the company.
The first harvest is expected in March, with monthly harvests expected from thereon.
Coltura brings over 20 years of experience in the public sector as a director and officer
Asterion Cannabis Inc is welcoming business executive Robert Coltura to its board of directors, the firm said Monday.
The new board member was confirmed at the Vancouver-based company’s recent annual general meeting held on Friday.
Coltura brings over 20 years of experience in the public sector as a director and officer, including his multiple current roles in corporate finance, resource companies and real estate.
READ: Asterion Cannabis set to raise C$10M to fund construction of pioneering Toowoomba facility
Coltura currently serves as president and principal shareholder of Matalia Investments Ls, which provides management consulting and corporate finance services to public and private firms. He is also the CEO of Fiorentina Minerals Inc, a precious metals explorer in British Columbia, and president of Coltura Properties, which holds commercial real estate and hotels in North America.
