MjLink Cannabis Business News and Press
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
The senior executive has been with the company since November 2018 as chief strategy officer and director
Over 18,000 samples were served and consumers were pleased the drinks were calorie, carbs and sweetener-free
BevCanna will gain access to an extensive library of cannabis genetics, including 50 premium strains and more than 25 types of seeds
Chief commercialization officer Emma Andrews will participate in a panel discussion on the future of social consumption
As edibles and infused beverages hit Canadian shelves, BevCanna's Emma Andrews shares her thoughts on where the nascent industry is headed
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
BevCanna exercised its option to acquire the right, title and interest to DeeperGreen
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 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.
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.
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.
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.
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.
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.
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.
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.
