MjLink Cannabis Business News and Press
Sustainable Growth Strategic Capital Corp has partnered with Micro C45, a firm that has developed a post-harvest mechanical separation process for hemp that results in higher extraction value
AgraFlora Organics International Inc () (OTCPINK:AGFAF) announced Friday that its subsidiary Sustainable Growth Strategic Capital Corp (SGSC) has produced its first run of full spectrum winterized CBD crude oil and distillate.
SGSC, based in the Greater Toronto Area, is targeting the underserviced market for CBD oil, distillate and isolate by establishing revenue-generating partnerships.
To that end, the company teamed up with Micro C45 Inc, a firm that has developed a post-harvest mechanical separation process for hemp that results in higher extraction value. The partnership has led to agreements with multiple Canadian companies to create formulations and finished products with oil, distillate and isolate.
READ: AgraFlora Organics International eyeing cultivation licence for large British Columbia greenhouse before end of second quarter
Now, SGSC’s first batches of CBD oil and distillate are complete and in the final stages of being prepared for sale, the company said. The first batch of distillate is expected in the second quarter.
Propagation Services Canada, otherwise known as the 'Delta Facility', is a 2.2 million square foot commercial greenhouse
AgraFlora Organics International Inc () (OTCMKTS:AGFAF) revealed it has taken a further step towards gaining a cultivation licence for its large-scale commercial greenhouse in Delta, British Columbia.
In a statement, the international cannabis firm confirmed that it will deliver the cultivation license at its Delta Facility before the end of the second quarter this year, barring any material change in Health Canada’s service standards as a result of "prevailing socioeconomic conditions".
READ: AgraFlora Organics nabs Health Canada approval to launch Toronto CBD business
The group's Propagation Services Canada, otherwise known as the 'Delta Facility', is a 2.2 million square foot commercial greenhouse, aiming to reshape the Canadian market with high-potency, low-cost cannabis flower.
On April 3 this year, AgraFlora said the Delta Facility had submitted responses to the third request for more information (RMI) from Health Canada over the cultivation application.
SGSC has been working with partner farmers in the Candaian CBD business to optimize its harvest and maximize the subsequent CBD extraction
AgraFlora Organics International Inc () (OTCMKTS:AGFAF) said it's subsidiary Sustainable Growth Strategic Capital Corp has received approval from Health Canada to begin extraction at its Greater Toronto Area facility, under an amendment to its standard processing license.
SGSC has been working with partner farmers in the Canadian CBD business to optimize its harvest and maximize the subsequent CBD extraction. In March, the company conducted a trial extraction of hemp-biomass, which will be extracted by third-party services and sold as CBD crude oil, distillate and isolate.
SGSC also holds standard cultivation and medical sales licenses
.READ: AgraFlora Organics completes acquisition of Canadian cannabis producer Sanna Health Corp
Sanna Health, based in Toronto, operates a 16-acre, 27,000-square-foot Health Canada licensed cultivation and processing space
AgraFlora Organics International Inc () (OTCMKTS:AGFAF) has closed the acquisition of Candian cannabis company Sanna Health Corp, originally announced back in December.
Sanna Health, based in Toronto, operates a 16-acre, 27,000 sq ft Health Canada licensed cultivation and processing space. The company holds an option to expand its production to 89,000 sq ft in addition to more commercial-industrial space.
AgraFlora acquired all of the issued and outstanding shares of Sanna in exchange for 76,666,666 shares.
READ: AgraFlora Organics German subsidiary Farmako posts C$3.1M in FY2019 revenue
A glance at some of the day's highlights from the Proactive Investors US and Canada newswires
() (OCTMKTS:NTTHF) announced Wednesday it has produced battery-grade lithium carbonate at its pilot plant in Fiambala using concentrated brine from its wholly owned Tres Quebradas lithium project (3Q project) in Argentina's Catamarca province. In a statement, Neo Lithium said the brine was extracted from the high-grade zone located in the northern zone of the 3Q Project and then evaporated at the company's industrial-scale ponds at the same location under similar conditions as production scale. The company achieved 99.599% purity using an improved process, which may decrease operational and capital costs while minimizing reagent, water and power consumption.
The surge in market volatility triggered by the deadly coronavirus outbreak is prompting A/S (CPH:BIOPOR) to start a rights issue, which will allow for the subscription of up to 24,992,054 new shares, instead of going the route of a private placement. The move to strengthen the Danish in-vitro diagnostic company’s financial position is set to raise up to US$8.3 million or roughly 55 million in Danish Krones, and provides a subscription price of DKK2.20 per share ($0.33). All proceeds from the rights issue will be put towards funding ’s applications to the US Food and Drug Administration for clearance in 2020 of its flagship NGAL test, which provides an early risk assessment of acute kidney injury, as well as to raise awareness about the NGAL platform, particularly in the US.
MGX Renewables Inc, doing business as (), has settled the debt claimed by MGX Minerals Inc () (OCTMKTS:MGXMF) by agreement to pay to it $1.5 million over the next four months. Also as part of the settlement, MGX Minerals has agreed to sell to Zimtu Capital Corp 5.5 million shares of Zinc8 for $550,000 that are to be held in escrow and released over two years. The remaining Zinc8 shares in escrow will be retained by MGX Minerals. In other news, Jared Lazerson, the former CEO of Zinc8, has resigned as a director. The board of Zinc8 now is composed of CEO Ron MacDonald, Michael Reimann, Lyndon Patrick and David Hodge.
Newgioco Group (NASDAQ:NWGI), the sports betting and gaming group, has been forced to close about 150 of its betting shops across Italy in the wake of the outbreak of the deadly coronavirus in the Mediterranean country. However, CEO Michele Ciavarella says the company’s long-term fundamentals remain robust and Newgioco is still proceeding according to plan with its planned investments like the development of its US betting platform. Further financial updates, as well as earnings and the publishing of cash flow from operations, will be made available during the fiscal second quarter of this year.
This will boost Farmako’s supply and available portfolio range of high-quality medical cannabis products for German patients
AgraFlora Organics International Inc () (OCTMKTS:AGFAF) said Wednesday that its wholly-owned subsidiary Farmako GmbH has submitted an application to the regional authorities in Germany for EU Good Manufacturing Practice (EU-GMP) certification, and a manufacturing and import authorization (MIA) license under the German Medicinal Products Act.
In a statement, the diversified international cannabis company said that with the submission of its application documents, it anticipated the EU-GMP and MIA licensing processes to be completed by the summer.
If the company is successful in its bid to win MIA authorization and GMP certification, Farmako will be able to import medical cannabis products from outside the European Economic Community. The company said this will “dramatically increase” supply and allow Farmako greater flexibility — a key milestone as it scales its German and European medical cannabis distribution business.
READ: AgraFlora subsidiary Farmako GmbH wins special license to sell irradiated medical cannabis
“Germany has put in place the highest standards in the world to ensure the safety of the medical patient, as well as bolster trust that patients, physicians and pharmacists have in the program. As a result, it is very challenging for new businesses to enter the market which has created a limited amount of medical cannabis supply for the German marketplace,” said Farmako CEO Katrin Eckmans.
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.
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.
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."
