MjLink Cannabis Business News and Press
The agreement sees ZenPharm supplying EU-GMP quality flower to Farmako to distribute to medical cannabis patients in Germany
AgraFlora Organics International Inc () (OTCPINK:AGFAF) announced Friday that its wholly-owned subsidiary Farmako GmbH has signed a new supply agreement with Zenanbis Global subsidiary ZenPharm Ltd.
The agreement sees ZenPharm supplying EU-GMP quality flower to Farmako to distribute to medical cannabis patients in Germany.
Farmako anticipates distributing 1,500 kilograms of cannabis flower in Germany over a three-year term, with both parties having the option to extend the supply relationship.
READ: AgraFlora Organics subsidiary submits documents to Health Canada for standard processing license at Winnipeg edibles facility
As part of the agreement, Farmako will receive the products in Germany and distribute them nationally under its own brand to its network of German pharmacies and doctors. In addition, Farmako and ZenPharm have agreed to do more collaborative work on additional product formulations, including cannabis oils and other dosage forms.
The private company intends to use the proceeds to finance pre-construct costs for greenhouses in Queensland, Australia, to produce medicinal cannabis
Asterion Cannabis Inc has announced a brokered private placement to raise up to C$10 million.
In a statement Wednesday, the company said it intends to use the proceeds to finance pre-construct costs for about 40 hectares (99 acres) of cutting-edge greenhouses in Queensland, Australia, to produce high-quality medicinal cannabis.
Asterion said the money also will help it execute its early revenue strategic plan and list its shares on a recognized stock exchange while providing general working capital.
READ: Asterion Cannabis welcomes Amy Stephenson as chief investment officer
Under the terms of the financing, Vancouver-based Asterion is offering nearly 6.7 million units at C$1.50 per unit.
Management estimates that the first revenue post-processing licensing will be delivered in the fourth quarter of 2020
AgraFlora Organics International Inc () (OTCPK:AGFAF) said its subsidiary, The Edibles and Infusions Corporation (EIC) has submitted its Site Evidence Package to Health Canada for a standard processing license at its edibles manufacturing facility in Winnipeg, Manitoba.
The company currently holds a research and development license that it intends to use to develop and perfect the recipes and formulations for client edibles, increasing customer satisfaction, reducing operational risk, and allowing the company to move into revenue quickly once the standard processing license is obtained.
Although there is no guarantee on licensing timelines, AgraFlora said its management estimates that the first revenue post-licensing will be delivered in the fourth quarter of 2020.
READ: AgraFlora Organics subsidiary strikes extraction partnership with top tier extractor in Quebec
“License permitting, we are confident in our timelines to be able to reach first packaged sales in Q4 of this year,” James Fletcher, one of the founders and the operational manager of EIC said in a statement on Wednesday.
The JV will utilize licensed proprietary technology that allows for the partitioning of acid cannabinoids from their neutral counterparts with high efficiency
Cannabis One Holdings Inc () has announced the formation of Diamond Ventures for the production of high purity THCa extract products to further expand its current product offerings beyond existing brands including Honu, Cheech, INDVR and Fat Face Farms.
Diamond Ventures is a new and equally owned joint venture between Cannabis One US Inc, a wholly owned subsidiary of Cannabis One, and Empire, a Colorado limited liability company.
The joint venture will utilize licensed proprietary technology and know-how that allows for the partitioning of acid cannabinoids from their neutral counterparts with high efficiency.
READ: Cannabis One Holdings raises $1.6 million in management-led strategic financing
This technology will be used in tandem with licensed proprietary techniques to consistently achieve greater than 99% purity THCa "diamonds" for use in a wide array of new retail products.
Proceeds from the financing will be used to assist in the closing of certain acquisitions and fund the expansion of the group's Colorado and Washington operations
Cannabis One Holdings Inc (), the cannabis branding house, has undertaken a management-led strategic financing that netted the company over $1.6 million.
Led by insiders, the company’s non-brokered private placement consisted of just over 7.6 million subordinate voting units priced at C$0.068 and around 1.7 million super-voting units priced at C$0.68 for gross proceeds of $1.61 million.
READ: Cannabis One Holdings adds veteran real estate developer Regan Hauptman to its board
Nearly half of the proceeds came from managers and board members of Cannabis One, who participated for an aggregate of 2.6 million subordinate voting units and 904,000 super-voting units to raise around $794,000.
Proceeds from the financing will be used to fund general working capital, assist in the closing of certain acquisitions, and fund the expansion of its Colorado and Washington operations, Cannabis One told shareholders in a statement Wednesday.
The seasoned Colorado executive has been an investor in Vancouver’s Cannabis One since 2016
Cannabis One Holdings Inc () is strengthening its board with the addition of veteran Colorado businessman C Regan Hauptman.
Hauptman, CEO of residential developer Remington Homes, has been an investor in Vancouver’s Cannabis One since 2016.
The Canadian cannabis company is commercializing a house of brands throughout North America, including its flagship brand, The Joint.
READ: Cannabis One Holdings kicks off cultivation at Fox Street facility
"I am pleased to accept a directorship with Cannabis One Holdings Inc and I look forward to contributing to the company's growth as it continues to expand its retail footprint and its infused product offerings across Nevada, Colorado, Oregon and Washington," Hauptman said in a statement on Wednesday.
Targets, acquires and legitimizes legacy cannabis assets purchased at discounted purchase prices
Flagship Hona brand continues to exceed management’s expectations
Cannabis One Holdings Inc () (OTCMKTS:CAAOF) is a Denver-headquartered cannabis company that focuses on aggregating cannabis retail distribution and brand manufacturing.
The company is expanding its footprint across the US as it tackles the goal of becoming a premier house of brands, embodied by its tagline: "If we brand it, they will come."
Cannabis One is focused on a house-of-brands approach, meaning it is home to numerous brands, independent of one another as it seeks to capitalize on a unique arbitrage opportunity. Its goal is to target, acquire, and legitimize (and grow) legacy cannabis assets.
This will boost its Colorado flower production by 200%, with the first harvest expected in March
Cannabis One Holdings Inc () (OTCMKTS:CAAOF) said Tuesday that it has completed the construction and building out a second branded flower cultivation facility, also known as Fox Street.
In a statement, the Denver-headquartered cannabis company said Fox Street is a 13,000 square foot craft quality cultivation facility that can produce 4,800 pounds of flower per year, boosting capacity by nearly 200%.
This will allow Cannabis One Holdings to crack average monthly flower production of 600 pounds, leading to annual topline Colorado cultivation revenue of US$11,700,000 and gross profit of US$7,560,000 at current Colorado per pound averages of US$1,500, said the company.
The first harvest is expected in March, with monthly harvests expected from thereon.
The JV will utilize licensed proprietary technology that allows for the partitioning of acid cannabinoids from their neutral counterparts with high efficiency
Cannabis One Holdings Inc () has announced the formation of Diamond Ventures for the production of high purity THCa extract products to further expand its current product offerings beyond existing brands including Honu, Cheech, INDVR and Fat Face Farms.
Diamond Ventures is a new and equally owned joint venture between Cannabis One US Inc, a wholly owned subsidiary of Cannabis One, and Empire, a Colorado limited liability company.
The joint venture will utilize licensed proprietary technology and know-how that allows for the partitioning of acid cannabinoids from their neutral counterparts with high efficiency.
READ: Cannabis One Holdings raises $1.6 million in management-led strategic financing
This technology will be used in tandem with licensed proprietary techniques to consistently achieve greater than 99% purity THCa "diamonds" for use in a wide array of new retail products.
Proceeds from the financing will be used to assist in the closing of certain acquisitions and fund the expansion of the group's Colorado and Washington operations
Cannabis One Holdings Inc (), the cannabis branding house, has undertaken a management-led strategic financing that netted the company over $1.6 million.
Led by insiders, the company’s non-brokered private placement consisted of just over 7.6 million subordinate voting units priced at C$0.068 and around 1.7 million super-voting units priced at C$0.68 for gross proceeds of $1.61 million.
READ: Cannabis One Holdings adds veteran real estate developer Regan Hauptman to its board
Nearly half of the proceeds came from managers and board members of Cannabis One, who participated for an aggregate of 2.6 million subordinate voting units and 904,000 super-voting units to raise around $794,000.
Proceeds from the financing will be used to fund general working capital, assist in the closing of certain acquisitions, and fund the expansion of its Colorado and Washington operations, Cannabis One told shareholders in a statement Wednesday.
The seasoned Colorado executive has been an investor in Vancouver’s Cannabis One since 2016
Cannabis One Holdings Inc () is strengthening its board with the addition of veteran Colorado businessman C Regan Hauptman.
Hauptman, CEO of residential developer Remington Homes, has been an investor in Vancouver’s Cannabis One since 2016.
The Canadian cannabis company is commercializing a house of brands throughout North America, including its flagship brand, The Joint.
READ: Cannabis One Holdings kicks off cultivation at Fox Street facility
"I am pleased to accept a directorship with Cannabis One Holdings Inc and I look forward to contributing to the company's growth as it continues to expand its retail footprint and its infused product offerings across Nevada, Colorado, Oregon and Washington," Hauptman said in a statement on Wednesday.
Targets, acquires and legitimizes legacy cannabis assets purchased at discounted purchase prices
Flagship Hona brand continues to exceed management’s expectations
Cannabis One Holdings Inc () (OTCMKTS:CAAOF) is a Denver-headquartered cannabis company that focuses on aggregating cannabis retail distribution and brand manufacturing.
The company is expanding its footprint across the US as it tackles the goal of becoming a premier house of brands, embodied by its tagline: "If we brand it, they will come."
Cannabis One is focused on a house-of-brands approach, meaning it is home to numerous brands, independent of one another as it seeks to capitalize on a unique arbitrage opportunity. Its goal is to target, acquire, and legitimize (and grow) legacy cannabis assets.
This will boost its Colorado flower production by 200%, with the first harvest expected in March
Cannabis One Holdings Inc () (OTCMKTS:CAAOF) said Tuesday that it has completed the construction and building out a second branded flower cultivation facility, also known as Fox Street.
In a statement, the Denver-headquartered cannabis company said Fox Street is a 13,000 square foot craft quality cultivation facility that can produce 4,800 pounds of flower per year, boosting capacity by nearly 200%.
This will allow Cannabis One Holdings to crack average monthly flower production of 600 pounds, leading to annual topline Colorado cultivation revenue of US$11,700,000 and gross profit of US$7,560,000 at current Colorado per pound averages of US$1,500, said the company.
The first harvest is expected in March, with monthly harvests expected from thereon.
Two years ago, its subsidiary Back Home struck a 24,000 kg three-year deal with the Province of Newfoundland and Labrador
'The cannabis market has changed significantly over the past year, and we recognize that our initial capital-intensive strategy no longer makes sense in this environment,' CEO Khurram Malik said
Asterion Cannabis Inc. is currently a privately-owned medicinal-cannabis producer with operations in Australia, specializing in medical cannabis and focused on producing the highest quality of genetically uniform cannabis strains, at an affordable price.
The Vancouver-based company is led by a team of highly experienced executives with over 120 years of combined experience in medical cannabis, renewable energy, capital markets, and other highly relevant sectors across North America, Oceania, Europe, Africa and Asia.
Chairman and CEO Stephen Van Deventer, for example, spearheaded the financing and reverse takeover of Aurora Cannabis, after helping to create its structure and provide strategic direction.
Asterion is in the process of rolling out an ambitious project in southeast Queensland, to construct the world's largest purpose-built greenhouse cannabis production facility.
The facility will cover a 4.3 million sq/ft site with an aim to ultimately have an annual capacity in excess of 500,000 kilograms.
Stephenson has over 20 years’ experience in capital markets and managing public companies and was most recently chief financial officer (CFO) of Cura Cannabis Solutions
Asterion Cannabis Inc, the medical cannabis group, has named experienced industry executive Amy Stephenson as its chief investment officer.
Stephenson has over 20 years’ experience in capital markets and managing public companies. For 15 years, she was finance chief at public companies focusing on mergers and acquisitions (M&A) and IPO/RTO activities in several industries including cannabis, hemp, mining, oil and gas, agriculture, logistics and healthcare.
READ: Asterion Cannabis and its Australian subsidiary finalizing plans for first phase of $400 million project in Queensland
She was most recently chief financial officer (CFO) of Cura Cannabis Solutions, and has worked for Aurora Cannabis, Lineage Growth, The Green Organic Dutchman and Bedrocan. She was also instrumental in the Tweed merger with Bedrocan to form Canopy Growth, Asterion in a statement.
It noted also that Stephenson has diversified experience with numerous US cannabis companies and multi-state operators) involved in cultivation, extractions and edibles.
The company has entered into agreements with Watpac, a large and well-known contractor in Australia
Asterion Cannabis Inc and its wholly-owned subsidiary Asterion (Australia) Pty Ltd are finalizing the development, construction, maintenance and financing of the first phase of a $400 million greenhouse project in Toowoomba, Queensland.
In a statement Tuesday, the privately-owned Vancouver-based company said it has entered into an exclusive Definitive Association Agreement (DAA) with entities within the Limited group.
Watpac is a large and well-known contractor in Australia and part of the BESIX Group, a global construction, property development and concessions company.
READ: Asterion Cannabis welcomes business executive Robert Coltura to its board of directors
The DAA sets out a process for the parties to rapidly enter into design, construction and facilities maintenance agreements. As part of the DAA, Watpac will work with Asterion to finalize acceptable standard Australian commercial terms for these agreements and separately investigate opportunities for investment in the project.
Coltura brings over 20 years of experience in the public sector as a director and officer
Asterion Cannabis Inc is welcoming business executive Robert Coltura to its board of directors, the firm said Monday.
The new board member was confirmed at the Vancouver-based company’s recent annual general meeting held on Friday.
Coltura brings over 20 years of experience in the public sector as a director and officer, including his multiple current roles in corporate finance, resource companies and real estate.
READ: Asterion Cannabis set to raise C$10M to fund construction of pioneering Toowoomba facility
Coltura currently serves as president and principal shareholder of Matalia Investments Ls, which provides management consulting and corporate finance services to public and private firms. He is also the CEO of Fiorentina Minerals Inc, a precious metals explorer in British Columbia, and president of Coltura Properties, which holds commercial real estate and hotels in North America.
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.
