MjLink Cannabis Business News and Press
DeMott is a founder and managing partner of Hamerle Investments, which targets cannabis, music and entertainment companies
() (OTC:AUSAF) has found a new head man, the company announced Monday, in cannabis and entertainment industry veteran Harry DeMott.
DeMott is a founder and managing partner of Hamerle Investments, which targets cannabis, music and entertainment companies. He also co-founded the investment firm Raptor Ventures I LP, where he has been a general partner since 2011.
He was also a founding investor of Columbia Care Inc (CSE:CCHW) (OTCQX:CCHWF), a multi-state cannabis operator, and previously served on the board of Pandora Inc from 2006 through its initial public offer (IPO) in 2011. All told, DeMott brings some 30 years of experience in the US investment community.
READ: Australis Capital appoints cannabis industry veteran Sameer Kumar as independent director
"I am excited to take the reins at Australis during this unprecedented time of opportunity in the US cannabis business," DeMott said in a statement. "Having witnessed the opportunities firsthand as an investor and operator in the space, I truly believe that the time to invest in and build branded cannabis assets is now.”
The company said the RMI (request for more information) response is a key step towards achieving the coveted manufacturing license for the 51,000-square-foot, fully automated facility
Agraflora Organics International Inc () (OCTMKTS:AGFAF) has submitted a formal response to Health Canada's first request for more information (RMI) regarding the standard processing licence application for Agraflora's 51,000-square-foot, fully automated edibles manufacturing facility in Winnipeg, Manitoba.
In a statement Friday, the company said the RMI response is a key step towards achieving the standard processing license for the edibles facility. Agraflora in May submitted its site evidence package to Health Canada for the manufacturing license.
AgraFlora noted that on August 27 it launched research and development trials through its Health Canada R&D license to dial in formulations for cannabis-activated pectin and gelatin gummies, hard candy, and sugar-free variants.
READ: AgraFlora says subsidiary Farmako in distribution agreement with Adjupharm to supply medical cannabis in Germany
The Vancouver-based company said it is currently in discussions with multiple Canadian cannabis companies with respect to product development and formulation as an R&D service. It believes that R&D services contracts are a critical path to long-term production relationships.
() () has named cannabis industry veteran Sameer Kumar as an independent director.
Sameer was the former president and chief operating officer (COO) of VIOLA Brands, a lifestyle-based cannabis management services organization (MSO), which was founded by former NBA player Al Harrington.
READ: Australis Capital says CocoonPod self-service kiosks launched at first of eight THRIVE Cannabis Marketplace locations
Sameer expanded the brand into five markets, drove operational and sales efficiencies, which led to a doubling of production, a double-digit increase in sales and an expansion of margins, propelling VIOLA to become one of the largest live resin concentrate brands in Colorado and Oregon, by market share, highlighted Australis.
"AUSA continues to take decisive action to position the company for growth," said director Harry DeMott in a statement, adding that Sameer brought valuable external skills and perspectives.
"On behalf of AUSA and the other directors, I welcome Sameer and look forward to working with him as the company breaks with its recent past, focuses on the US cannabis market, and moves along the path to value creation," he said.
It recently acquired US e-commerce platform Pure Therapy Products Corp as a vehicle to scale its business into the US and abroad
The cannabis beverage company sold 844,800 units, each containing one common share and one purchase warrant, at a price of C$0.25 per unit
Adjupharm, the German subsidiary of IM Cannabis Corp, will provide EU Good Manufacturing Practice quality medical cannabis to Farmako for a three-year term
AgraFlora Organics International Inc () said its subsidiary Farmako GmbH has entered into a binding distribution agreement with Adjupharm GmbH to supply medical cannabis in Germany.
Adjupharm, the German subsidiary of (), will provide EU Good Manufacturing Practice (GMP) quality medical cannabis to Farmako for a three-year term, according to a statement.
Farmako will distribute the products in Germany to patients under the brand to its established network of German pharmacies. The first products are expected to launch in October 2020.
READ: AgraFlora says Farmako subsidiary secures added supply of EU-GMP certified medical cannabis from ZenPharm
The products provided by Adjupharm and distributed by Farmako include initially high potency THC flower. The portfolio is expected to be enhanced throughout the first quarter of 2021 by balanced THC and CBD flower as well as CBD dominant flower.
The company said the agreement will facilitate the distribution of 1,500 kilograms of cannabis flower by Farmako in Germany over a three-year term
AgraFlora Organics International Inc () (OCTMKTS:AGFAF) said on Tuesday that its subsidiary Farmako GmbH has executed a binding supply agreement with ZenPharm Limited, a subsidiary of Global Inc (), to secure additional medical cannabis stock.
As result of the supply agreement, ZenPharm will supply EU Good Manufacturing Practice (GMP) quality medical cannabis flower cultivated by to Farmako for distribution to medical cannabis patients in Germany. The agreement will facilitate the distribution of 1,500 kilograms of cannabis flower by Farmako in Germany over a three-year term, said the company.
Farmako will distribute the products to its established network of German pharmacies and the products will carry Farmako’s branding, a key step in building “brand awareness and loyalty” with physicians, pharmacists and patients, noted the company. The products initially include high potency THC flower and balanced THC and CBD flower, two product categories that management believes are in highest demand in Germany. Shipments to Farmako are expected to start in November 2020.
READ: AgraFlora Organics expects first harvest at its Delta greenhouse in fourth quarter 2020
CBD Plus has over 120 locations in Texas, Oklahoma, Kansas, Arkansas, Tennessee, Georgia, Florida, North Carolina, and Maryland
1933 Industries Inc () () announced Friday it has set up distribution of its Canna Hemp line of wellness products with CBD Plus, the largest and most trusted supplier of CBD products across the US.
The Vancouver, British Columbia-based company said its wholly owned subsidiary Infused MFG signed a master service and supply agreement with MCV Enterprises LLC, an Oklahoma company doing business as CBD Plus and CBD Plus USA for the marketing and sale of Canna Hemp products in CBD Plus corporate-owned and franchisee brick and mortar retail stores.
The one-year agreement includes a 45-day trial period, effective immediately.
READ: 1933 Industries closes non-brokered private placement for ongoing business development
CBD Plus is focused in the Midwest and Southern US, with over 120 locations in Texas, Oklahoma, Kansas, Arkansas, Tennessee, Georgia, Florida, North Carolina, and Maryland.
The self-service CocoonPod kiosks are very relevant in the current pandemic world as they eliminate person-to-person contact at the point-of-sale
() () revealed on Thursday that its subsidiary Cocoon Technology has installed its CocoonPod self-service kiosks at the first of eight locations operated by one of Nevada’s largest cannabis retailers, THRIVE Cannabis Marketplace.
Cocoon Technology LLC, which manufactures consumer-facing kiosks as stand-alone units or multi-unit pods for consumers has put up the CocoonPod kiosks at THRIVE’s dispensary location on 2755 W Cheyenne Avenue, in North Las Vegas.
Las Vegas-based Australis Capital which was spun out from cannabis behemoth Aurora Cannabis Inc (TSE:ACB) (NYSE:ACB) in September 2018 as its US investment vehicle, said the launch is a “positive step” towards the company's continued commitment to its US-focused cannabis operations. Installations at the remaining seven locations are anticipated in the coming months, said the company.
1933 Industries (CSE: TGIF- OTCQX: TGIFF) CEO Paul Rosen joined Steve Darling from Proactive Vancouver with news the company has completed financing bringing in just under 800 thousand dollars.
Rosen says that cash gives them a buffer as they start to head toward becoming profitable.
Rosen talks about that financing and also about the current status of their Las Vegas operations as the world continues to deal with COVID-19.
CSE:TGIF
The company said that the fund infusion, the progress it has made in converting its debentures and controlling costs have "strengthened" its balance sheet
1933 Industries Inc () said Tuesday that it has closed a private placement by issuing 10,510,040 units at a price of $0.075 each to raise $788,253 to fund business development.
The Vancouver-based vertically integrated cannabis consumer packaged goods company said each unit is made up of one share and one-half share purchase warrant, with each whole warrant being exercisable at a price of $0.125 until September 3, 2022. The warrant is subject to an “accelerated expiry” if the closing price of the company's shares exceeds C$0.25 per share for a period of 10 consecutive trading days.
The company forked over $6,037.50 and 40,250 warrants as a finder's fee in connection with the closing. All securities issued in connection with the private placement are subject to a regulatory hold period till January 5, 2021.
In a statement, 1933 Industries CEO Paul Rosen said: “The proceeds of the private placement as well as the progress we’ve made in converting our debentures, in conjunction with the cost control measures we have implemented have positively strengthened our balance sheet.”
1933 Industries Inc () (OTCMKTS:TGIF) is a cannabis company with operations in the United States and Canada. Through its two main subsidiaries, 1933 owns licensed medical and recreational cannabis cultivation and production assets, hemp-based, CBD infused products, CBD extraction services and specialized cannabis advisory services.
The “1933” in the company name is a nod to the year when the prohibition of alcohol ended in the US. Today, 1933 Industries aims to capitalize on opportunities that have come as a result of the end of cannabis prohibition in Canada and industry legalization in a collection of US states.
1933 Industries has two main subsidiaries. The first is Alternative Medicine Association LLC, a licensed medical and adult-use cannabis cultivation and extraction subsidiary that produces its own line of products while also manufacturing third-party brands. AMA’s products include concentrates such as Cake Batter, Crumble and Sugar; a vape pen sold with distillate oil; and several flower strains.
The other main subsidiary is Infused MFG, a Las Vegas-based manufacturer of hemp-based, cannabidiol (CBD) products. Infused MFG’s product line includes topicals, creams, vapes, elixirs, capsules, dabs, lip balms and pre and post-workout recovery sports products. The subsidiary manufacturers its products under its Canna Hemp brand, which utilizes the power of hemp and CBD to bring natural wellness.
At something of a critical time for the firm, 1933’s chief executive Paul Rosen has joined its board of directors, having also been involved with the company beforehand as not only CEO but also a strategic investor and an advisor.
Pure Therapy is a proven e-commerce brand with an extensive list of over 22,000 customers
CEO Cleve Tzung said “This settlement represents a fair and reasonable resolution between Australis and Passport, and an equitable separation between the company and Scott"
() () announced that it has reached a settlement agreement with Passport Technology Inc regarding the termination of its previously announced acquisition agreement.
Las Vegas-based Australis Capital also revealed that the company’s executive chairman Scott Dowty would be stepping down from the board.
Australis first announced on June 25 that it planned to acquire Passport Technology, which partners with casino operators to deliver funds to the casino floor through cash and cashless payment portals. Passport is in 72 casinos with 124 unattended kiosks in five countries.
Rosen has been involved with 1933 Industries in the capacities of strategic investor and advisor
1933 Industries Inc () (), a cannabis consumer packaged goods company, announced Wednesday that CEO Paul Rosen has been appointed to its board of directors.
The company noted that Rosen has been involved with 1933 Industries in the capacities of strategic investor, advisor and most recently as chief executive, instituting a high level of stewardship and financial oversight that is guiding the company into its next phase of development.
Leveraging his extensive experience in the cannabis industry as one of its earliest and most active entrepreneurs and company builders, 1933 Industries said Rosen brings vast corporate governance expertise to his new board position, having co-founded and served as CEO of Capital Corp that was later rebranded to The Cronos Group () ().
READ: 1933 Industries launches Canna Hemp PLUS line with double the amount of CBD as part of its wellness portfolio
Currently, Rosen is the executive chairman of Global Go, a consultancy focused on the global regulated cannabis industry and is a co-founder and chairman of Pantry Co, a cannabis-focused start-up in the functional food market. He is a member of the Law Society of Ontario and previously practised constitutional law.
QAAFI received sativa seeds for a tissue culture program designed to enable high volume and pathogen-resistant plant cultivation for medicinal purposes
Asterion Cannabis Inc said Thursday its research partner had received sativa seeds for a tissue culture program designed to enable high volume and pathogen-resistant plant cultivation for medicinal purposes.
The Vancouver-based company said the seeds were received by the University of Queensland’s Queensland Alliance for Agriculture and Food Innovation (QAAFI) last week.
QAAFI has begun the program, which is aiming to expedite clonal propagation of elite sections of marijuana plants to allow for high-volume and uniform plant cultivation. Clonal propagation is the multiplication of genetically identical copies of individual plants.
READ: Asterion Cannabis updates on milestones in bid to become world’s largest pharma-grade medicinal cannabis supplier
In a statement, Asterion CEO Steven Van Deventer told shareholders that the firm was pleased that all the required regulatory approvals were received and the seeds are now in QAAFI’s possession.
The company said it has now dialed in formulations for cannabis activated pectin and gelatin gummies, hard candy and sugar-free variants
AgraFlora Organics International Inc () (OCTMKTS:AGFAF) said it has received a necessary CRA tax license and is now creating test cannabis edibles products through its Health Canada licensed research & development (R&D) lab at the group’s edibles manufacturing facility in Winnipeg, Manitoba.
The company said through its R&D license it has now dialed in formulations for cannabis activated pectin and gelatin gummies, hard candy and sugar-free variants.
READ: AgraFlora Organics expects first harvest at its Delta greenhouse in fourth quarter 2020
"As part of the R&D program, we have begun a testing project with Agilent to improve testing standards, methods, and ensure consistent quality. Our efficient and highly automated R&D production allows us to provide a variety of sample products for our prospective clients to try for their established brands,” said James Fletcher, one of the founders and the operational manager of Edibles and Infusions Corporation, a joint venture formed between AgraFlora and one of North America’s leading confectionery manufacturing families.
AgraFlora also said it submitted its site evidence package to Health Canada for a processing license on May 28, adding that it is in regular contact with the body and remains committed to the timeline of receiving the license in the fourth quarter of 2020.
The group said the "elite genetics" at the Delta facility will yield up to 44 varieties of strains to offer its wholesale clients a “robust product offering"
AgraFlora Organics International Inc () (OCTMKTS:AGFAF) has provided an update on progress at its flagship cultivation asset in Delta, British Columbia which embarked on planting using a curated portfolio of live-plant genetics in June this year.
Vancouver-based AgraFlora said the Delta facility expects to see its first harvest early in the fourth quarter of this year, with the first product available for sale of “low-cost, high potency cannabis strains” in the first quarter of 2021 on a wholesale basis. The company is in a joint venture with Propagation Services Canada Inc, which operates the 2.2 million-square-foot greenhouse complex in Delta, British Columbia.
AgraFlora said the "elite genetics" at the Delta facility has been tweaked to work with Propagation Services Canada's cultivation program and is expected to yield up to 44 varieties of strains to offer to its wholesale clients a “robust product offering,” while maintaining “strong cannabinoid and terpene content” plant yield every year.
READ: AgraFlora Organics International to exchange $3 million of debentures for shares
The company postponed the meeting after Passport Technology Inc, a casino fintech company that Australis has agreed to acquire, terminated the acquisition deal
() (OTC:AUSAF) has scheduled its annual general and special meeting of shareholders for November 17, the company announced Thursday.
The company postponed the meeting after Passport Technology Inc, a casino fintech company that Australis has agreed to acquire, terminated the acquisition deal. In response, dissident shareholders submitted nominations to elect six new people to the board of directors, the company said.
Postponing the meeting gives the company and its shareholders time to process these recent events.
READ: Australis Capital announces the termination by Passport Technology of pending acquisition agreement
“Against the backdrop of a small group of dissident shareholders intent on leveraging the current challenges AUSA faces to take over the entire company, the board of directors is putting the interests of shareholders first by methodically charting the company's course for the foreseeable future,” Australis wrote in a statement.
The company said the PLUS line is aimed at offering "competitively-priced products" with some of the “highest amounts of CBD found in the market"
1933 Industries Inc () (), a cannabis company with a diverse portfolio of consumer-driven brands, said Wednesday that it has introduced a new line of extra strength CBD products to its extensive wellness portfolio.
The Vancouver, British Columbia-based company said the new Canna Hemp PLUS line was developed for consumers who want to experience the added benefits of increased CBD at competitive prices from a reliable and trusted brand. With double the amount of CBD, the PLUS line is aimed at offering “competitively-priced products” with some of the “highest amounts of CBD found today in the market,” the company said.
"Our exciting suite of wellness products continues to grow in a number of segments and price points. Over the last three years, we have earned the trust of our consumers by offering products that are effective, reliable and contain the highest quality CBD sourced in the USA," Eugene Ruiz, the president of 1933 Industries said in a statement.
