MjLink Cannabis Business News and Press
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
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The group noted that Mohamed brings over 20 years of private and public sector experience having built an exceptional reputation in business development, capital markets, operational streamlining, mergers, acquisitions, and internal audit
() has announced the appointment of Rahim Mohamed to its board as an independent director as the company proceeds with its strategic rebranding to INDVR Brands Inc.
The group noted that Mohamed brings over 20 years of private and public sector experience having built an exceptional reputation in business development, capital markets, operational streamlining, mergers, acquisitions, and internal audits.
READ:Cannabis One appoints Alnoor Nathoo to board amid two executive-level departures
Mohamed, who is a member of the Private Capital Markets Association of Canada (PCMA) - formerly known as Exempt Market Dealers Association of Canada (EMDA) - currently serves as chief executive officer and a director of Softlab9 Technologies Inc.
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The firm said it agreed with holders of its 10% senior unsecured convertible debentures due March 12, 2021, that provides for the purchase of $3 million aggregate principal amount of the debentures
Agraflora Organics International Inc () (OCTMKTS:AGFAF) has said it is exchanging $3 million worth of debentures for shares in the company.
The firm said it agreed with holders of its 10% senior unsecured convertible debentures due March 12, 2021, that provides for the purchase of $3 million aggregate principal amount of the debentures.
The cannabis company will distribute nearly 55 million shares priced at C$0.05472, which is the daily volume-weighted average price of shares between June 24, 2020, and June 30, 2020.
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Cannabis One (CSE: CBIS) President and Interim CEO Joshua Mann joined Steve Darling from Proactive Vancouver with news the company has changed up their board of directors. Mr Alnoor Nathoo has joined the board and Mann talks about the experience he brings.
Mann also discusses his role changing as he takes over as CEO and also why the company had decided to move away from Cannabis One, rebranding as INDVR Brands.
CSE:CBIS
Market: CSE
Market Cap: $6.27 m
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Highland Grow is licensed to cultivate, process, and distribute cannabis from its facility in Antigonish, Nova Scotia
The personnel changes come as the company prepares to strategically rebrand itself INDVR Brands
Cannabis One Holdings Inc () (OTCMKTS:CAAOF) announced Tuesday the appointment of Alnoor Nathoo to its board of directors, one of several new additions the company said it plans to make.
The company also announced two resignations, that of board director Bernard Radochonski and interim CFO Theresa Mohan. Radochonski still remains a large shareholder and long-standing supporter of the company, the group noted.
The executive-level personnel changes come as Cannabis One prepares to strategically rebrand itself INDVR Brands Inc in a bid to better reflect its cannabis distribution business model.
READ: Cannabis One to transform into fully licensed Colorado operator as it cuts deal to acquire Cannabis Corp
In a statement, Cannabis One noted that Nathoo brings a wealth of public and private company experience. He is the principal of a privately held hotel development company which over the past two decades has developed and sold over 10 hotels across Canada.
The company also announced that CEO Jeffrey Mascio has resigned from the Cannabis One leadership team as well as the board of directors effective immediately but remain involved with the company in an executive advisory role
Cannabis One Holdings Inc () (OTCMKTS:CAAOF) has announced plans to change its name to INDVR Brands Inc in a bid to better reflect its cannabis distribution business model.
The Vancouver-based company is advancing a “House of Brands” model that aggregates and optimizes popular cannabis names in North America. It also owns a retail storefront in Colorado called The Joint, which was ranked the number one dispensary in the state by Leafly for three consecutive years.
The company also announced that CEO Jeffrey Mascio has resigned from the Cannabis One leadership team as well as the board of directors effective immediately. Mascio will remain involved with the company in an executive advisory role and the company's president Joshua Mann will take up the interim CEO position.
In a statement on Friday, Mann said that directors and executive management team have collectively decided that its current name does not properly reflect its business or its business model. The name change will not affect the firm’s existing share structure or shareholder rights, the group said.
A glance at some of the day's highlights from the Proactive Investors US and Canada newswires
A glance at some of the day's highlights from the Proactive Investors US and Canada newswires
A glance at some of the day's highlights from the Proactive Investors US and Canada newswires
Post-closing, Biome Grow will become MYM’s largest shareholder with a 19% stake in the company
The firm aims to construct a 4.3 million sq ft (40 hectares) facility, which will be built in three phases
Asterion Cannabis Inc outlined the various significant milestones achieved as the private firm continues its bid to build the world’s largest glasshouse medicinal cannabis production facility in Australia.
In a lengthy investor update, Asterion, which is currently raising C$10 million via a placing, highlighted that in April last year, it inked a definitive deal to buy 75 acres of land in Toowoomba, adjacent to the Toowoomba Wellcamp Airport in Queensland.
READ: Asterion Cannabis launches C$10M brokered private placement
The firm aims to construct a 4.3 million sq ft (40 hectares) facility, which will be built in three phases - the first and second phases being 10 hectares each.
It will include full extraction and processing equipment as well as a research and development (R&D) facility.
The company is currently in talks with potential buyers to determine the optimal sales mix of CBD isolate, CBD distillate and CBD crude oil
AgraFlora Organics International Inc () () revealed that it has now produced around 1,000 kg of CBD oil with its biomass partner MicroC45, which it is preparing to sell this quarter.
The company said it is currently in talks with potential buyers to determine the optimal sales mix of CBD Isolate, CBD Distillate and CBD Crude Oil and expects to close its first bulk transactions this quarter.
READ: AgraFlora Organics International unveils partnership with MicroC45 Inc for growing hemp at Ontario farm
In June this year, AgraFlora struck a cultivation partnership with MicroC45 for growing hemp in Ontario, Canada. MicroC45 has a proprietary separation process that results in higher extraction value and ultimately a greater yield of major and minor cannabinoids.
The group said the CBD oil was produced from approximately 10,000 kilograms of hemp biomass that was run through the firm's proprietary pre-extraction processes.
AgraFlora said Binbrook Farm was expected to yield around 50,000 kilograms of high CBD hemp in fall 2020
AgraFlora Organics International Inc () () told investors on Friday that it had struck a cultivation partnership with MicroC45 Inc for growing hemp in Ontario, Canada.
The deal is between subsidiary Sustainable Growth Strategic Capital Corp (SGSC) and MicroC45 Inc and SGSC has already successfully planted 50 acres of high-quality hemp at a farm in Binbrook, it revealed in a statement.
READ: AgraFlora Organics International expects PSC joint venture to begin sales this year
AgraFlora said Binbrook Farm was expected to yield around 50,000 kilograms of high CBD hemp in fall 2020.
"Cultivation at Binbrook represents another milestone for this core-asset strategy,” said Brandon Boddy, AgraFlora's executive chairman and CEO.
The group's Propagation Services Canada Inc (PSC) venture has begun cultivation using a portfolio of live-plant genetics
AgraFlora Organics International Inc (CSE:AGRA) (OCTMKTS:AGFAF) told investors that its greenhouse in Delta, British Columbia has started commercial cannabis growing and sales are expected to begin this year.
The group's asset Propagation Services Canada Inc (PSC) has begun cultivation using a portfolio of live-plant genetics, focused on producing high potency cannabis with attractive strains at a low cost, AgraFlora said.
READ: AgraFlora Organics subsidiary Farmako signs three-year supply agreement with Zenabis Global's ZenPharm
"Our partners at PSC have a long history of low-cost agricultural production which we expect to translate into our ability to produce low-cost cannabis at the Delta Facility," Brandon Boddy, AgraFlora's chief executive said in a statement.
"We have witnessed a trend in the market towards higher potency genetics with exotic strains on one hand, and a move towards value pricing on the other; but we have yet to see companies successfully do both.
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Cannabis One ( CSE: CBIS- OTCMRKTS: CAAOF) President Joshua Mann joined Steve Darling from Proactive Vancouver to discuss a massive deal the company has just done that will see them take over the licences from Cannabis Corp and all the assets in Colorado.
These assets include the very popular retail store, “The Joint” Mann discusses how they were able to take over those licenses and he also gave us an update on their operations in Oregon and Washington State.
CSE:CBIS
Market: CSE
Market Cap: $11.22 m
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A glance at some of the day's highlights from the Proactive Investors US and Canada newswires
Benchmark Metals Inc (CVE:BNCH) (OTCQB:CYRTF) is set to drill the largest drill program in the Toodoggone region of British Columbia in 2020. The Edmonton-based company is planning a drill program of up to 50,000 metres at the at the Lawyers gold-silver project, which is located in British Columbia’s prolific Golden Triangle mining district. Toodoggone is a historically underexplored area, but it did see production in the form of the Cheni gold-silver mine that operated from 1989 to 1992 and recorded output of 171,200 ounces of gold and 3.6 million ounces of silver.
Tinka Resources Limited (CVE:TK) (OTCPINK:TKRFF) is reactivating its exploration program at its Ayawilca property in Peru after the country’s government lifted restrictions in place as part of the coronavirus pandemic. Last week the Peruvian government initiated Phase 2 of its economic reactivation plan, which includes mineral activities. Vancouver-based Tinka submitted a coronavirus health and monitoring protocol to the Ministry of Health, allowing it to recommence exploration at any time, the company said in a statement Tuesday.
Antibe Therapeutics Inc (CVE:ATE) has reached a bought deal financing agreement worth $25 million to advance its anti-inflammatory drug ATB-346 and others in its pipeline. The Toronto-based company, which develops non-addictive medicines for pain and inflammation, agreed to offer 62.5 million units at a price of $0.40 per unit. Each unit contains one common share and one-third of a share purchase warrant, and whole warrants are exercisable at $0.60 for a period of 24 months.
Marrone Bio Innovations Inc (NASDAQ:MBII) shares jumped Friday after the company announced an exclusive commercial agreement with multinational agribusiness UPL to distribute its REGALIA MAXX Fungicide in South Africa. South Africa is a major producer of wine and table grapes, with more than 120,000 hectares in production. Marrone’s REGALIA MAXX stimulates plants’ ability to fight diseases and has been used in North America to manage botrytis and other grape diseases.
A glance at some of the day's highlights from the Proactive Investors US and Canada newswires
Marrone Bio Innovations Inc (NASDAQ:MBII) shares jumped Friday after the company announced an exclusive commercial agreement with multinational agribusiness UPL to distribute its REGALIA MAXX Fungicide in South Africa. South Africa is a major producer of wine and table grapes, with more than 120,000 hectares in production. Marrone’s REGALIA MAXX stimulates plants’ ability to fight diseases and has been used in North America to manage botrytis and other grape diseases.
Nerds On Site Inc (CSE:NERD) (OTCQB:NOSUF) said Tuesday that it is advancing with its investment AdamNetworks, which has won patents in the US and Europe for its cybercrime-defeating AdamOne feature "Don't Talk To Strangers." Nerds said it has provided about C$1 million in the form of debt over the last four years to establish AdamNetworks. The company postponed interest payments as the technology was under development in exchange for 20% royalty payable to Nerds. And in other company news, Nerds also said its founders have purchased 400,000 company shares while it has launched investor information pages on Facebook and LinkedIn.
FSD Pharma Inc (CSE:HUGE) (NASDAQ:HUGE) has closed a C$10.125 million financing by way of a private placement of 1.5 million shares priced at C$6.75 and an additional 1.5 million warrants exercisable at C$9.65 for a five-year term. The Toronto-based company also granted the placement agents an option to arrange for purchases of up to an additional C$10.125 million of Securities on the terms above for a period of 30 days following the initial closing. Net proceeds are expected to be used for working capital and other general corporate purposes.
Altamira Gold Corp (CVE:ALTA) (OTCPINK:EQTRF) (FSE:T6UP) announced it had sold its Crepori gold project in Para state to a small-scale Brazilian gold miner as it continues to transition to a junior gold producer from an exploration firm. The firm will receive a total of C$500,000 from the sale to Mineracao do Para Ltda (MAP) and retain a 4% net smelter royalty (NSR) following the start of production. "This agreement is an important step in our transition from an exploration company to a junior gold producer and will add to future revenues, further reducing our need to raise capital through dilutive private placements," Altamira's CEO Mike Bennett told investors.
A glance at some of the day's highlights from the Proactive Investors US and Canada newswires
Cannabis One Holdings Inc (CSE:CBIS) (OTCMKTS:CAAOF) announced Tuesday that it has executed a definitive purchase agreement to acquire Colorado-based Cannabis Corp. which will transform the group into a fully-licensed cannabis operator. Cannabis Corp. holds the licenses and cannabis inventory assets of the Fox Street and Kingston cultivation facilities, as well as the award-winning "The Joint" dispensary in Denver, Colorado. The consideration payable to Cannabis Corp shareholders in connection with the transaction will be US$1,800,000 (C$2,500,000) in Class B super voting shares of Cannabis One at a per CBIS super-voting share price of $1.289 (equivalent to $0.1289 per Class A subordinate voting share) equaling 1,938,974 Class B super voting shares of Cannabis One.
Kincora Copper Ltd’s (CVE:KCC) ongoing drilling campaign at the Trundle copper-gold porphyry project in New South Wales, Australia has gone two from two. On May 19, the company revealed that it had intersected multiple mineralised skarn zones in core from the first of its drill holes into Trundle, at the southern Trundle Park skarn-porphyry target. Fast forward three weeks and the core from the second hole has now been received and reviewed. Kincora has put out some further visuals and it too is showing significant mineralisation, this time at the Mordialloc porphyry target. Although the proof will ultimately lie in the assay testing, and it is still early in Kincora’s maiden drill program at Trundle, both holes look very promising.
Canafarma Hemp Products Corp (CSE:CNFA) has revealed it is teaming up with private drugs group PharmOps to develop a bioequivalent drug to Hydroxychloroquine amid the coronavirus (COVID-19) pandemic. In April this year, Canafarma inked a letter of intent to buy PharmOps and its 25,000 square foot nutraceutical manufacturing facility in New Jersey. The hemp product-focused group told investors that as due diligence continues on that acquisition, the pair have also agreed to work together to develop a bioequivalent material to Hydroxychloroquine - a drug, which US President Donald Trump has been an advocate of amid the battle against the virus.
American Manganese Inc (CVE:AMY) (OTCPINK:AMYZF) has reported highly positive news on the development of its recycling pilot plant after engineering work that has increased its processing capacity. In May this year, the firm announced the launch by its contractor Kemetco of optimization tests in a bid to upgrade the plant, which extracts cathode materials, such as lithium, cobalt, nickel, and manganese at battery-grade purity from spent batteries. "As a result of the upgrades, the pilot plant capacity was successfully increased from 64 kg/day to 160 kg/day, without sacrificing the recovery potential of cobalt, lithium, nickel, manganese, and aluminum," American Manganese said in a statement on Tuesday.
The deal will add annual earnings before interest, taxes, depreciation and amortization of around US$3.6 million to the group’s Colorado operations
Cannabis One Holdings Inc () (OTCMKTS:CAAOF) announced Tuesday that it has executed a definitive purchase agreement to acquire Colorado-based Cannabis Corp. which will transform the group into a fully-licensed cannabis operator.
Cannabis Corp. holds the licenses and cannabis inventory assets of the Fox Street and Kingston cultivation facilities, as well as the award-winning "The Joint" dispensary in Denver, Colorado.
READ: Cannabis One forms JV for production of high purity THCa extract products
The consideration payable to Cannabis Corp shareholders in connection with the transaction will be US$1,800,000 (C$2,500,000) in Class B super voting shares of Cannabis One at a per super-voting share price of $1.289 (equivalent to $0.1289 per Class A subordinate voting share) equaling to 1,938,974 Class B super voting shares of Cannabis One.
