MjLink Cannabis Business News and Press
As edibles and infused beverages hit Canadian shelves, BevCanna's Emma Andrews shares her thoughts on where the nascent industry is headed
Its Delta Greenhouse Facility is tipped to catapult the company into a “Top Five” Canadian licensed producer
AgraFlora Organics International Inc () (OTCMKTS:AGFAF) offered a corporate update Tuesday, saying it was kicking off 2020 with a fully automated edibles facility, a technically advanced production facility, worldwide distribution and strong brands.
In a statement, the company said 2019 was a “transformative year” for AgraFlora, bookended by “accretive acquisitions.” As a result, AgraFlora increased its equity stake to 70% in its Propagation Services Canada joint venture, which houses the firm’s 2.2 million square foot Delta Greenhouse Facility.
The greenhouse is second in size only to the Smiths Falls facility owned by () (NYSE:CGC).
READ: AgraFlora Organics completes acquisition of Germany’s Good Company
The Delta Greenhouse Facility is a semi-open Venlo greenhouse, considered one of the most technically advanced and environmentally-friendly greenhouse operations in the world.
The combined entity will have world-class upstream cultivation assets and efficient European downstream capabilities
AgraFlora Organics International Inc () (OTCMKTS:AGFAF) said Friday it has closed the acquisition of 100% of the issued and outstanding shares of Germany's The Good Company GmbH.
On October 25, the Vancouver-based company acquired The Good Company, the parent company of German medical cannabis distributor, Farmako GmbH.
Farmako is a leading European medical cannabis distributor, headquartered in Frankfurt, with affiliated companies in the United Kingdom, Luxembourg and Denmark. Farmako has a distribution network of 19,800 pharmacies covering 100,000 patients.
READ: AgraFlora Organics to design onsite farm-gate retail facilities at its Ontario operations
In a statement, AgraFlora Organics 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.
The facility will feature around 40 hectares of purpose-built greenhouses to produce high-quality, organic medicinal cannabis
Asterion Cannabis Inc said Thursday it is raising C$10 million to fund the construction of its state-of-the-art cultivation compound in Australia.
The Toowoomba facility in southeast Queensland will feature around 40 hectares of purpose-built greenhouses to produce high-quality, organic medicinal cannabis.
The scheme was awarded Major Project Status by the Australian federal government last year.
READ: Asterion Cannabis' Australian subsidiary to kickstart Toowoomba Medicinal Cannabis project
Under the terms of the financing, Vancouver-based Asterion is offering nearly 6.7 million units at C$1.50 per unit for gross proceeds of up to C$10 million.
It expects a recovery in vape sales to boost its fortunes, while it gains from expanded cannabis production in Nevada and licensing deals
1933 Industries Inc () (OTCMKTS:TGIFF) CEO Chris Rebentisch said Monday that the company anticipates a recovery in vape sales as it reported first quarter financial results for fiscal year 2020.
In a statement accompanying the Vancouver, British Columbia company’s latest numbers, Rebentisch said: “Company revenues for first quarter 2020 were impacted by lower than expected sales from vape products, largely attributed to the rampant use of vitamin E acetate in black market products.”
“Despite weakness in this segment, we anticipate a recovery in vape sales across both our Alternative Medicine Association (AMA) and Infused MFG subsidiaries as well as the demand in the supply chain for distillate normalizing in Nevada in early 2020.”
READ: 1933 Industries signs second licensing deal with OG DNA Genetics
The 1933 Industries boss said that with over “100+ SKUs across 5 product lines,” and 8 licensing partners, the company’s “diversified product portfolio and product mix” will help to boost future growth.
A glance at some of the day's highlights from the Proactive Investors US and Canada newswires
It bolsters partnership with Clearwater CannGrow Limited to grow certified organic cannabis in its fertile Osoyoos site in British Columbia
CEO Stephen Van Deventer said it’s a “major milestone” as Asterion gears up to start work on its cannabis facility
Asterion Cannabis Inc said Monday that its wholly-owned Australian subsidiary Asterion Australia has received its licences for the cultivation, manufacturing and research of medicinal cannabis from the Australian government's Office of Drug Control.
In a statement, the privately-owned Canadian medicinal cannabis company said the licence was effective from December 20.
"This is a major milestone for Asterion as it prepares to commence work on its industry leading medicinal cannabis cultivation and processing facility near Toowoomba in south east Queensland, Australia," said Asterion Cannabis CEO Stephen Van Deventer.
READ: Asterion Cannabis submits Operational Works permit application for its Toowoomba Medicinal Cannabis project
"Asterion is delighted that it has passed through the ODC's rigorous assessment process and been awarded the licences it requires to establish its flagship project,” he added.
The move will give the company greater control over the seed-to-sale process, increasing its margins
AgraFlora Organics International Inc () (OTCMKTS:AGFAF) revealed Thursday that it is designing two onsite farm-gate cannabis retail outlets next to its sprawling licensed cultivation and processing facilities in Scarborough and London, in Ontario.
The company’s stock recently traded up 9.1% to C$0.12 in Toronto and 4.1% to $0.09 In New York.
In a statement, the Vancouver, British Columbia, company said a 1,200 square foot farm-gate retail outlet will come up next to its 37,000 square foot licensed cultivation and processing facility in Scarborough, which sits on 16 acres of land. AgraFlora and its joint venture partner have the option to expand the current production area to 89,000 square feet.
Similarly, another 690 square foot farm-gate retail facility will adjoin its 8,000 square foot London, Ontario AAA Heidelberg-licensed craft cannabis cultivation facility. London is Canada's 11th largest metropolitan area and lies at the nexus of Toronto, Ontario, Detroit, Michigan, and Buffalo, New York, allowing the company an opportunity to tap into the cannabis tourism marketplace.
BevCanna exercised its option to acquire the right, title and interest to DeeperGreen
The product include CBD isolate performance tincture, CBD-infused rejuvenation gummies and CBD sport capsules
AgraFlora Organics International Inc () (OTCMKTS:AGFAF) announced Tuesday that its jointly owned subsidiary Eurasia Infused Cosmetics Inc is preparing to import a series of athlete-focused CBD products into Japan and Hong Kong.
The products, which include CBD isolate performance tincture, CBD-infused rejuvenation gummies and CBD sport capsules, will be imported in collaboration with the Toronto Wolfpack Rugby League Football Club and its subsidiary, Howlbrands Inc.
The Wolfpacks were recently promoted to the 2020 RLF Super League competition, the highest tier of English rugby league. By importing products to Japan, AgraFlora is breaking into the market that earlier this year played host to the 2018 Rugby World Cup.
READ: Valens GroWorks rebrands to The Valens Company
Its 50%-owned subsidiary Eurasia Infused, through its commercial concession with Hong Kong’s CBD Group Asia Inc, controls a distribution agreement for CBD and hemp-derived beauty, wellness and performance products within South Asia and the Pacific Rim.
() (OTCMKTS:AUSAF) CEO Scott Dowty caught up with Proactive's Andrew Scott while in London to discuss the news that they're to merge with Folium Biosciences.
Under the merger plan Folium will become a wholly owned subsidiary of Australis -- which will be rebranded as Folium Biosciences and will carry on the current business of Folium.
CSE:AUSA
