MjLink Cannabis Business News and Press
The senior executive has been with the company since November 2018 as chief strategy officer and director
Terry Taouss becomes the new chair, while Lisa Capparelli and Mark Baynes join as directors
1933 Industries Inc () (OTCMKTS:TGIFF), the cannabis-brand focused group, announced a raft of board changes on Friday, including two new senior executives and a new chairman.
Terry Taouss becomes the new chair, while two seasoned senior executives in the beauty and CPG (consumer packaged goods) industries respectively Lisa Capparelli and Mark Baynes have joined as directors.
Brayden Sutton and Watt have resigned as directors, the former to focus on his family, the company said in a statement.
READ: 1933 Industries updates on progress at its customized hemp processing lab in Vegas
Capparelli's expertise will be invaluable as the firm continues to focus on brand development, consumer engagement and sales growth across the United States, it said.
AgraFlora Organics International Inc () (OCTMKTS:AGFAF) grows, distributes and markets premium cannabis and cannabis-infused products.
Its strategy is two-pronged - supply the Canadian recreational market with high-potency flower and edible products, while serving the European medical cannabis market.
“These are the areas where AgraFlora intends to be a top-tier player in 2020,” the company says.
AgraFlora, based in Vancouver, owns an 8,000-square-foot indoor cultivation (AAA Heidelberg) facility in London, Ontario that grows premium cannabis.
The company is in a joint venture with Propagation Services Canada Inc, which operates a 2.2 million-square-foot greenhouse complex in Delta, British Columbia. The company has an industrial hemp license but is seeking to upgrade to a cultivation license.
A glance at some of the day's highlights from the Proactive Investors US and Canada newswires
Empower Clinics Inc () (OTCMKTS:EPWCF) told shareholders Thursday that its Sun Valley Health division completed the sale of its first franchise territory in Oklahoma. Under Sun Valley’s business model, a franchisee pays an upfront fee based on the territory location and population index in addition to a monthly recurring revenue-based royalty. The buyers are a pair of entrepreneurs with an extensive background of 20 years owning and operating a health and wellness centre, according to Empower.
Codebase Ventures Inc () (OTCMKTS:BKLLF) said it has formed a wholly-owned subsidiary named Titan Shrooms & Psychedelics Inc to spearhead its investments into the emerging market for mental health treatments using mushrooms and psychedelics. "Mushrooms and psychedelics fit our mandate as an emerging sector with tremendous potential for those suffering from certain mental health issues, as was well documented on 60 Minutes at the end of December," said Brian Keane, a director with Codebase Ventures. For most, psychedelic drugs conjure up images of the 1960's, hippies tripping out on LSD or magic mushrooms. However, the 60 Minutes program talks about how cancer patients with painful anxiety have found more peace after being given a drug that was once a symbol of the 60's counterculture.
Inc () (OTCMKTS:EURPF) told shareholders on Thursday that it has acquired the global rights to CBD food products in over 75 jurisdictions. The move bolsters the Toronto-based company’s portfolio of CBD products to include hot sauce, olive oils and other related foodstuffs. CEO Sean Moniz said that the company’s research showed a “significant market opportunity” throughout Europe for CBD-infused food products.
Enwave Corporation () (OTCMKTS:NWVXF) announced Thursday it has signed a royalty-bearing commercial license agreement with a Colombian snack maker. In a statement, Enwave said Pacifico Snacks SAS will use the company’s flagship Radiant Energy Vacuum (REV) technology to produce dried-fruit snacks for the North American grocery market. Under the terms of the license, Pacifico Snacks purchased a 10-kilowatt commercial REV machine to initiate commercial production. The REV machine/technology precisely dehydrates organic materials and has pharmaceutical uses as well.
The North American Marijuana Index, which tracks the top cannabis stocks in the US and Canada, declined 0.8% to 120.7 points. Elsewhere, the Horizons Marijuana Life Sciences Index ETF rose 0.2% to C$9.67, while the OTCQX Cannabis index edged down 0.2% to 488.6 points.
Buds today are AgraFlora Organics International Inc () (OTCMKTS:AGFAF), Corp () (OTCMKTS:PEMTF). The duds were GrowGeneration Corp (NASDAQ:GRWG), Meridian Bioscience Inc (), General Cannabis Corp ().
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The indices were all flattish as no single stock swung the pendulum either direction
Cannabis stocks were little changed Thursday, and the major indices reflected a mixed bag.
The North American Marijuana Index, which tracks the top cannabis stocks in the US and Canada, declined 0.8% to 120.7 points. Elsewhere, the Horizons Marijuana Life Sciences Index ETF rose 0.2% to C$9.67, while the OTCQX Cannabis index edged down 0.2% to 488.6 points.
Buds
AgraFlora Organics International Inc () (OTCMKTS:AGFAF) shares jumped after its subsidiary Farmako Limited received its UK Home Office Controlled Drug License.
With the license in hand, Farmako Limited intends to start wholesaling medical cannabis in the UK by mid-year 2020, including importing Bedrocan products from the Netherlands to the UK for patient distribution.
The license gives Farmako an early mover advantage and access to the high-profile UK medical cannabis market
AgraFlora Organics International Inc () (OTCMKTS:AGFAF) revealed Thursday that Farmako GmbH, through its wholly-owned subsidiary Farmako Limited, has received its UK Home Office Controlled Drug License.
AgraFlora completed the acquisition of The Good Company and its subsidiary European medical cannabis distributor Farmako GmbH, at the beginning of January.
In a statement, the company said that Farmako Limited was awarded the license less than a month after having successfully completed its inspection by the UK Home Office in December 2019. With the license in hand, Farmako Limited intends to start wholesaling medical cannabis in the UK by mid-year 2020, including importing Bedrocan products from the Netherlands to the UK for patient distribution.
READ: AgraFlora Organics German subsidiary Farmako posts C$3.1M in FY2019 revenue
“The UK medicinal cannabis market has been estimated to reach US$1.3 billion by 2024, with up to 1% of the UK’s population expected to be eligible to receive medicinal cannabis prescriptions by 2028,” said Farmako CEO Katrin Eckmans.
The system has been designed to extract CBD oil with an average efficiency rate of 2.3 times greater than the current industry standard
US-focused 1933 Industries Inc () (OTCMKTS:TGIFF) updated Wednesday on progress developing its hemp customized processing lab in Las Vegas, which will reduce costs and place the company as market leader in a fast-growing cannabis industry sector.
The system has been designed to extract CBD oil with an average efficiency rate of 2.3 times greater than the current industry standard, cutting costs by at least 50%, the firm said in a statement.
READ: 1933 Industries subsidiary to manufacture Bloom cannabis products for Nevada market
The facility lies next to 1933's current cultivation facility in Las Vegas and the 12,160 sq ft existing building has received the necessary approvals for new zoning and permitting for hazardous materials.
It also has an Industrial Hemp Handler Certificate from Nevada state. Permitting has been completed for fire and city inspections as well as H-3 hazard zoning.
Over 18,000 samples were served and consumers were pleased the drinks were calorie, carbs and sweetener-free
Han will serve in the role until a permanent chief financial officer is named, the group said in a brief statement
() (OTCMKTS:AUSAF) said Alex Han had been appointed as interim chief financial officer, after Michael Carlotti's employment was terminated with effect from January 16.
Han will serve in the role until a permanent chief financial officer is named, the group said in a brief statement.
Australis identifies opportunities and invests in the cannabis industry, mainly in the United States.
READ: Australis Capital strengthens leadership team with Alex Han as chief accounting officer
Last week, it revealed that its brands Tsunami and GT Flowers had received accolades at the High Times Cannabis Cup Nevada 2019 - the premier competition in the US cannabis industry.
It revealed awards in 4 categories - first place for Best Indica Concentrates and pole position in Best Sativa Concentrates
() (OTCMKTS:AUSAF) revealed that its brands Tsunami and GT Flowers have received accolades at the High Times Cannabis Cup Nevada 2019 - the premier competition in the US cannabis industry.
The company revealed awards in four categories - first-place position for Best Indica Concentrates and also pole position in Best Sativa Concentrates.
READ: Australis Capital strengthens leadership team with Alex Han as chief accounting officer
It won second place in Best Hybrid Concentrates and third placing in the Vape Cartridges section.
"The great showing at the High Times Cup validates the hard work, creativity and care Green Therapeutics uses when approaching the cultivation and extraction processes," said Dr. Duke Fu, chief executive of Green Therapeutics.
BevCanna will gain access to an extensive library of cannabis genetics, including 50 premium strains and more than 25 types of seeds
The figure includes gross margin of 47% for cumulative gross profits of nearly C$1.5 million
AgraFlora Organics International Inc () (OTCMKTS:AGFAF) is seeing early success from its recent acquisition of German medical cannabis distributor The Good Company GmbH.
Vancouver-based AgraFlora said Tuesday that The Good Company’s subsidiary, Farmako GmbH, posted nearly C$3.1 million in gross revenue during fiscal 2019.
The figure includes gross margin of 47% for cumulative gross profits of nearly C$1.5 million during the 12-month period from January 1 to December 31, 2019.
READ: AgraFlora Organics completes acquisition of Germany’s Good Company
AgraFlora completed the acquisition of The Good Company and Farmako at the beginning of January. In a statement accompanying the close of the deal, AgraFlora CEO Brandon Boddy said the combined entity will be equipped with “world-class” upstream cultivation assets, as well as efficient European downstream capabilities that will “act as a beachhead” into the 700-million-person European marketplace.
Bloom is now sold in over 300 licensed retailers in California, Nevada, Washington and New Mexico
1933 Industries Inc’s () (OTCMKTS:TGIFF) subsidiary has struck a licensing agreement with Capna Intellectual Inc, the developer of The Bloom Brand of cannabis products.
The one-year agreement was executed in December and received state approval in January. It awards the company’s subsidiary Alternative Medicine Association LLC (AMA), the exclusive license to manufacture a wide range of Bloom products for the Nevada market, according to a statement.
Established in California in 2014, Bloom is now sold in over 300 licensed retailers in California, Nevada, Washington and New Mexico, with further expansion planned for new markets in Oklahoma, Massachusetts and Canada.
READ: 1933 Industries enters California cannabis market with branded CBD and THC products
In 2015, AMA was the first licensed cultivator in Southern Nevada. Today, AMA continues its tradition of cultivating craft cannabis in a newly constructed, state-of-the-art, purpose-built facility in Las Vegas, offering consistency and scalability.
HowlBrands will feature on the Canadian rugby club Toronto Wolfpack’s jerseys in the 2020 season
AgraFlora Organics International Inc () (OTCMKTS:AGFAF) revealed Thursday that the company's CBD-performance product line, HowlBrands, will feature prominently on the Canadian rugby club Toronto Wolfpack’s jerseys throughout the 2020 RLF Super League season.
In a statement, the company said the placement of the company’s HowlBrands’ line of CBD creams and sports supplements in Toronto Wolfpack’s home and away kits will mark the first time a CBD-product has been so prominently featured in professional sport.
In October last year, AgraFlora's exclusive CBD sports partner, Toronto Wolfpack was promoted to the 2020 RLF Super League, which positions it in the highest tier of the English Rugby League. This gives the team international broadcast exposure to over 250 million homes.
READ: AgraFlora kicks off 2020 with Winnipeg edibles facility, Delta Greenhouse and top brands
Toronto Wolfpack also achieved 704 million unique views from associated print and web articles throughout the 2019 season.
Chief commercialization officer Emma Andrews will participate in a panel discussion on the future of social consumption
A glance at some of the day's highlights from the Proactive Investors US and Canada newswires
Analysts at HC Wainwright & Co reiterated a Buy recommendation for Inc () after the company launched five in vitro diagnostics (IVD) assays in India with its joint venture partner CoSara Diagnostics Pvt Ltd. The launch took place at the high-profile two-day India Diagnostic Expo in Hyderabad, India which ran from January 4-6. “In our view, these CoPrimerbased IVD assays not only provide accurate, convenient and affordable diagnostic solutions to Indian hospitals and laboratories, but should also serve as a momentous driver for Co-Diagnostics’ top-line growth in 2020,” wrote HC Wainwright analyst Raghuram Selvaraju. "In the wake of this update, we reiterate our Buy rating and $2 price target.”
Inc () announced Tuesday that two of its biofungicide products -- Stargus and Regalia -- have been approved by the US Environmental Protection Agency for indoor and outdoor use on hemp plants. Stargus and Regalia improve hemp plant quality and yield, as well as treat and protect hemp plants from a range of diseases, including powdery mildew, Botrytis bud rot, Sclerotinia white mold, Fusarium rots and wilts and other fungal and bacterial diseases. Marrone Bio said this is the first time that the EPA has approved crop protection products on hemp since the crop became legal to grow under the 2018 Farm Bill.
() announced the launch Tuesday of a battery recycling plant in Nevada that the company expects to have up and running in the second half of 2020. “Our facility and process will make one of the largest lithium-ion battery recyclers in the world,” CEO Doug Cole said in a statement. “We will harvest and then redeploy strategic metals like lithium, cobalt, and nickel back into the supply chain at a considerable cost advantage."
Inc () (OTCMKTS:EXROF) announced Tuesday that Schneider Electric’s Viorel Nica is joining the company’s business advisory board. Nica, who is currently the services business director at Schneider Canada, will provide “strategic guidance” to Exro’s technology roadmap, the firm said in a release. The new advisory board member also spent 19 years at in its motors and industrial divisions.
Cannabis stock continued to sputter this week in the wake of Cannabis 2.0, as edibles, beverages and other derivative products became available in Ontario.
The North American Marijuana Index, which tracks the top cannabis stocks in the US and Canada, fell 2.6% at 113.2 points. Elsewhere, the Horizons Marijuana Life Sciences Index ETF lost 1.1% at C$8.19, while the OTCQX Cannabis Index retreated 2.6% to 440.9 points.
Buds
1933 Industries Inc () (OTCMKTS:TGIFF) shares rose in Canada after the company announced a new manufacturing and cultivation operation in California.
The Vancouver-based company plans to begin manufacturing its line of proprietary CBD wellness products for sale in California dispensaries and debut its Alternative Medicine Association-branded THC products.
Shares traded 2.5% higher at C$0.21 on the CSE.
Han will work with the C-suite on delivering sound accounting practices, growing the team and keeping the firm compliant with regulations
() (OTCMKTS:AUSAF) said Tuesday that it has strengthened the company’s leadership team by promoting Alex Han, who was vice president of accounting, to the role of chief accounting officer.
In a statement, Australis Capital CEO Scott Dowty said Han is an “exceptional executive” who has proven her unique skills during the past year and brought “tremendous value” to the company.
"As Australis Capital evolves, Alex will work closely with the C-suite and board of directors delivering on sound accounting practices, regulatory compliance, and strategic planning while expanding her highly skilled team," said Dowty.
READ: Australis Capital merging with Folium Biosciences to create vertically integrated producer of CBD
In 2018, Han joined Australis Capital with over 15 years of experience in public and corporate accounting, with expertise in financial accounting, international accounting, and internal controls. Han has held several finance and accounting management positions in multi-billion-dollar global companies.
It will begin manufacturing its line of proprietary CBD wellness products for sale in California dispensaries
1933 Industries Inc () (OTCMKTS:TGIFF) is moving westward into the most populous US state with a new manufacturing and cultivation operation in California, the company announced Tuesday.
Vancouver-based 1933 Industries said it is poised to begin manufacturing its line of proprietary CBD wellness products for sale in California dispensaries.
The company is also debuting its Alternative Medicine Association-branded THC products in the Golden State.
READ: 1933 Industries expects growth in vape sales in 2020 as it posts fiscal 1Q numbers
The move comes at a time when California’s cannabis sales are reported to grow to US$7.2 billion by 2024, according to data provided by 1933. Pot sales in the state represent around 24% of legal cannabis sales in the US, a US$2.5 billion figure. California’s market share is nearly equal to the combined sales of the next three largest cannabis markets of Colorado, Washington and Oregon.
