MjLink Cannabis Business News and Press
CEO Stephen Van Deventer said it’s a “major milestone” as Asterion gears up to start work on its cannabis facility
Asterion Cannabis Inc said Monday that its wholly-owned Australian subsidiary Asterion Australia has received its licences for the cultivation, manufacturing and research of medicinal cannabis from the Australian government's Office of Drug Control.
In a statement, the privately-owned Canadian medicinal cannabis company said the licence was effective from December 20.
"This is a major milestone for Asterion as it prepares to commence work on its industry leading medicinal cannabis cultivation and processing facility near Toowoomba in south east Queensland, Australia," said Asterion Cannabis CEO Stephen Van Deventer.
READ: Asterion Cannabis submits Operational Works permit application for its Toowoomba Medicinal Cannabis project
"Asterion is delighted that it has passed through the ODC's rigorous assessment process and been awarded the licences it requires to establish its flagship project,” he added.
A glance at some of the day's highlights from the Proactive Investors US and Canada newswires
Helix BioPharma Corp () CEO Heman Chao will be presenting at Noble Capital Markets’ investor conference in Hollywood, Florida on February 17, the company said Friday. Chao will also sit on a panel entitled “Cancer Treatment: Tackling the disease through innovative strategies,” to discuss new therapies to combat cancer. Helix was also selected to present to Noble Capital Markets Life Sciences Scientific and Advisory Board (“LSAB”), in an invitation only event comprised of world-class healthcare professionals with extensive experience in the medical and pharmaceutical industries.
Newrange Gold Corp () (OTCMKTS:NRGOF) offers investors exposure to an early stage explorer with significant gold and silver discovery potential, says Noble Capital Markets, which has started covering the stock with an 'outperform' rating. It is targeting C$0.25 a share, which is more than double the firm's current share price of C$0.12. The firm's assets are the Pamlico project in Nevada, which allows it to explore and develop a district-scale gold deposit over multiple targets. The company also recently enlarged its footprint in the Red Lake area in Ontario with a new option agreement to earn 100% of the H Lake property from Bounty Gold Corp.
EnWave Corporation () (OTCMKTS:NWVCF) has agreed to slim down its Equipment Purchase Agreement with The Green Organic Dutchman Holdings Ltd () (OTCMKTS:TGODF) subsidiary Medican Organic Inc. Under the original deal, signed in March 2019, TGOD purchased three of EnWave’s 120kW Radiant Energy Vacuum dehydrating machines for its Valleyfield, Quebec cannabis facility. Now, at TGOD’s request, the parties have agreed to shrink the deal to one machine. TGOD has already paid in full for one machine and partially paid for the new machines no longer part of the agreement. The funds paid in connection to the two cancelled machines covers the costs absorbed by EnWave, the company said.
OTC Markets Group Inc () is congratulating lawmakers for introducing bipartisan legislation on Tuesday that would help qualified public companies trading on an over-the-counter market to offer Employee Stock Ownership Plans (ESOPs). The ESOP Fairness Act (S.3270) (H.R.5851) was put forth simultaneously by Senators Thom Tillis (R-NC) and Gary Peters (D-MI) and Representatives Mike Kelly (R-PA-16) and Brian Higgins (D-NY-26) in the House.
The large, GMP-certified Winnipeg edibles manufacturing facility, is at the heart of its manufacturing strategy
AgraFlora Organics International Inc () (OCTMKTS:AGFAF) indicated Wednesday that construction at its 51,500-square foot edibles-manufacturing facility and research lab in Winnipeg, Manitoba, would be completed in the next 60 days, with 75% of the work already finished.
AgraFlora’s GMP-certified Winnipeg edibles facility, at the heart of the company’s manufacturing strategy, is undergoing a retrofit which should be completed in early 2020.
Vancouver-based AgraFlora expects the Winnipeg edibles facility to submit its Health Canada affirmation of readiness and video evidence package after rounding out construction. The company is working with industry experts to manage the timing and quality of the evidence package submission. It expects the standard processing license to be granted for the Winnipeg edibles manufacturing facility by summer 2020.
READ: AgraFlora Organics intends to be a top cannabis player in Canada and Europe
“Completing the construction and licensing of the Winnipeg edibles facility is a strategic priority for AgraFlora in 2020,” said AgraFlora Organics CEO Brandon Boddy in a statement.
AgraFlora Organics International Inc () (OCTMKTS:AGFAF) grows, distributes and markets premium cannabis and cannabis-infused products.
Its strategy is two-pronged - supply the Canadian recreational market with high-potency flower and edible products, while serving the European medical cannabis market.
“These are the areas where AgraFlora intends to be a top-tier player in 2020,” the company says.
AgraFlora, based in Vancouver, owns an 8,000-square-foot indoor cultivation (AAA Heidelberg) facility in London, Ontario that grows premium cannabis.
The company is in a joint venture with Propagation Services Canada Inc, which operates a 2.2 million-square-foot greenhouse complex in Delta, British Columbia. The company has an industrial hemp license but is seeking to upgrade to a cultivation license.
A glance at some of the day's highlights from the Proactive Investors US and Canada newswires
Empower Clinics Inc () (OTCMKTS:EPWCF) told shareholders Thursday that its Sun Valley Health division completed the sale of its first franchise territory in Oklahoma. Under Sun Valley’s business model, a franchisee pays an upfront fee based on the territory location and population index in addition to a monthly recurring revenue-based royalty. The buyers are a pair of entrepreneurs with an extensive background of 20 years owning and operating a health and wellness centre, according to Empower.
Codebase Ventures Inc () (OTCMKTS:BKLLF) said it has formed a wholly-owned subsidiary named Titan Shrooms & Psychedelics Inc to spearhead its investments into the emerging market for mental health treatments using mushrooms and psychedelics. "Mushrooms and psychedelics fit our mandate as an emerging sector with tremendous potential for those suffering from certain mental health issues, as was well documented on 60 Minutes at the end of December," said Brian Keane, a director with Codebase Ventures. For most, psychedelic drugs conjure up images of the 1960's, hippies tripping out on LSD or magic mushrooms. However, the 60 Minutes program talks about how cancer patients with painful anxiety have found more peace after being given a drug that was once a symbol of the 60's counterculture.
Inc () (OTCMKTS:EURPF) told shareholders on Thursday that it has acquired the global rights to CBD food products in over 75 jurisdictions. The move bolsters the Toronto-based company’s portfolio of CBD products to include hot sauce, olive oils and other related foodstuffs. CEO Sean Moniz said that the company’s research showed a “significant market opportunity” throughout Europe for CBD-infused food products.
Enwave Corporation () (OTCMKTS:NWVXF) announced Thursday it has signed a royalty-bearing commercial license agreement with a Colombian snack maker. In a statement, Enwave said Pacifico Snacks SAS will use the company’s flagship Radiant Energy Vacuum (REV) technology to produce dried-fruit snacks for the North American grocery market. Under the terms of the license, Pacifico Snacks purchased a 10-kilowatt commercial REV machine to initiate commercial production. The REV machine/technology precisely dehydrates organic materials and has pharmaceutical uses as well.
The North American Marijuana Index, which tracks the top cannabis stocks in the US and Canada, declined 0.8% to 120.7 points. Elsewhere, the Horizons Marijuana Life Sciences Index ETF rose 0.2% to C$9.67, while the OTCQX Cannabis index edged down 0.2% to 488.6 points.
Buds today are AgraFlora Organics International Inc () (OTCMKTS:AGFAF), Corp () (OTCMKTS:PEMTF). The duds were GrowGeneration Corp (NASDAQ:GRWG), Meridian Bioscience Inc (), General Cannabis Corp ().
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The indices were all flattish as no single stock swung the pendulum either direction
Cannabis stocks were little changed Thursday, and the major indices reflected a mixed bag.
The North American Marijuana Index, which tracks the top cannabis stocks in the US and Canada, declined 0.8% to 120.7 points. Elsewhere, the Horizons Marijuana Life Sciences Index ETF rose 0.2% to C$9.67, while the OTCQX Cannabis index edged down 0.2% to 488.6 points.
Buds
AgraFlora Organics International Inc () (OTCMKTS:AGFAF) shares jumped after its subsidiary Farmako Limited received its UK Home Office Controlled Drug License.
With the license in hand, Farmako Limited intends to start wholesaling medical cannabis in the UK by mid-year 2020, including importing Bedrocan products from the Netherlands to the UK for patient distribution.
The license gives Farmako an early mover advantage and access to the high-profile UK medical cannabis market
AgraFlora Organics International Inc () (OTCMKTS:AGFAF) revealed Thursday that Farmako GmbH, through its wholly-owned subsidiary Farmako Limited, has received its UK Home Office Controlled Drug License.
AgraFlora completed the acquisition of The Good Company and its subsidiary European medical cannabis distributor Farmako GmbH, at the beginning of January.
In a statement, the company said that Farmako Limited was awarded the license less than a month after having successfully completed its inspection by the UK Home Office in December 2019. With the license in hand, Farmako Limited intends to start wholesaling medical cannabis in the UK by mid-year 2020, including importing Bedrocan products from the Netherlands to the UK for patient distribution.
READ: AgraFlora Organics German subsidiary Farmako posts C$3.1M in FY2019 revenue
“The UK medicinal cannabis market has been estimated to reach US$1.3 billion by 2024, with up to 1% of the UK’s population expected to be eligible to receive medicinal cannabis prescriptions by 2028,” said Farmako CEO Katrin Eckmans.
The figure includes gross margin of 47% for cumulative gross profits of nearly C$1.5 million
AgraFlora Organics International Inc () (OTCMKTS:AGFAF) is seeing early success from its recent acquisition of German medical cannabis distributor The Good Company GmbH.
Vancouver-based AgraFlora said Tuesday that The Good Company’s subsidiary, Farmako GmbH, posted nearly C$3.1 million in gross revenue during fiscal 2019.
The figure includes gross margin of 47% for cumulative gross profits of nearly C$1.5 million during the 12-month period from January 1 to December 31, 2019.
READ: AgraFlora Organics completes acquisition of Germany’s Good Company
AgraFlora completed the acquisition of The Good Company and Farmako at the beginning of January. In a statement accompanying the close of the deal, AgraFlora CEO Brandon Boddy said the combined entity will be equipped with “world-class” upstream cultivation assets, as well as efficient European downstream capabilities that will “act as a beachhead” into the 700-million-person European marketplace.
HowlBrands will feature on the Canadian rugby club Toronto Wolfpack’s jerseys in the 2020 season
AgraFlora Organics International Inc () (OTCMKTS:AGFAF) revealed Thursday that the company's CBD-performance product line, HowlBrands, will feature prominently on the Canadian rugby club Toronto Wolfpack’s jerseys throughout the 2020 RLF Super League season.
In a statement, the company said the placement of the company’s HowlBrands’ line of CBD creams and sports supplements in Toronto Wolfpack’s home and away kits will mark the first time a CBD-product has been so prominently featured in professional sport.
In October last year, AgraFlora's exclusive CBD sports partner, Toronto Wolfpack was promoted to the 2020 RLF Super League, which positions it in the highest tier of the English Rugby League. This gives the team international broadcast exposure to over 250 million homes.
READ: AgraFlora kicks off 2020 with Winnipeg edibles facility, Delta Greenhouse and top brands
Toronto Wolfpack also achieved 704 million unique views from associated print and web articles throughout the 2019 season.
A glance at some of the day's highlights from the Proactive Investors US and Canada newswires
Analysts at HC Wainwright & Co reiterated a Buy recommendation for Inc () after the company launched five in vitro diagnostics (IVD) assays in India with its joint venture partner CoSara Diagnostics Pvt Ltd. The launch took place at the high-profile two-day India Diagnostic Expo in Hyderabad, India which ran from January 4-6. “In our view, these CoPrimerbased IVD assays not only provide accurate, convenient and affordable diagnostic solutions to Indian hospitals and laboratories, but should also serve as a momentous driver for Co-Diagnostics’ top-line growth in 2020,” wrote HC Wainwright analyst Raghuram Selvaraju. "In the wake of this update, we reiterate our Buy rating and $2 price target.”
Inc () announced Tuesday that two of its biofungicide products -- Stargus and Regalia -- have been approved by the US Environmental Protection Agency for indoor and outdoor use on hemp plants. Stargus and Regalia improve hemp plant quality and yield, as well as treat and protect hemp plants from a range of diseases, including powdery mildew, Botrytis bud rot, Sclerotinia white mold, Fusarium rots and wilts and other fungal and bacterial diseases. Marrone Bio said this is the first time that the EPA has approved crop protection products on hemp since the crop became legal to grow under the 2018 Farm Bill.
() announced the launch Tuesday of a battery recycling plant in Nevada that the company expects to have up and running in the second half of 2020. “Our facility and process will make one of the largest lithium-ion battery recyclers in the world,” CEO Doug Cole said in a statement. “We will harvest and then redeploy strategic metals like lithium, cobalt, and nickel back into the supply chain at a considerable cost advantage."
Inc () (OTCMKTS:EXROF) announced Tuesday that Schneider Electric’s Viorel Nica is joining the company’s business advisory board. Nica, who is currently the services business director at Schneider Canada, will provide “strategic guidance” to Exro’s technology roadmap, the firm said in a release. The new advisory board member also spent 19 years at in its motors and industrial divisions.
Its Delta Greenhouse Facility is tipped to catapult the company into a “Top Five” Canadian licensed producer
AgraFlora Organics International Inc () (OTCMKTS:AGFAF) offered a corporate update Tuesday, saying it was kicking off 2020 with a fully automated edibles facility, a technically advanced production facility, worldwide distribution and strong brands.
In a statement, the company said 2019 was a “transformative year” for AgraFlora, bookended by “accretive acquisitions.” As a result, AgraFlora increased its equity stake to 70% in its Propagation Services Canada joint venture, which houses the firm’s 2.2 million square foot Delta Greenhouse Facility.
The greenhouse is second in size only to the Smiths Falls facility owned by () (NYSE:CGC).
READ: AgraFlora Organics completes acquisition of Germany’s Good Company
The Delta Greenhouse Facility is a semi-open Venlo greenhouse, considered one of the most technically advanced and environmentally-friendly greenhouse operations in the world.
The combined entity will have world-class upstream cultivation assets and efficient European downstream capabilities
AgraFlora Organics International Inc () (OTCMKTS:AGFAF) said Friday it has closed the acquisition of 100% of the issued and outstanding shares of Germany's The Good Company GmbH.
On October 25, the Vancouver-based company acquired The Good Company, the parent company of German medical cannabis distributor, Farmako GmbH.
Farmako is a leading European medical cannabis distributor, headquartered in Frankfurt, with affiliated companies in the United Kingdom, Luxembourg and Denmark. Farmako has a distribution network of 19,800 pharmacies covering 100,000 patients.
READ: AgraFlora Organics to design onsite farm-gate retail facilities at its Ontario operations
In a statement, AgraFlora Organics CEO Brandon Boddy said the combined entity will be equipped with “world-class” upstream cultivation assets, as well as efficient European downstream capabilities that will “act as a beachhead” into the 700-million-person European marketplace.
The move will give the company greater control over the seed-to-sale process, increasing its margins
AgraFlora Organics International Inc () (OTCMKTS:AGFAF) revealed Thursday that it is designing two onsite farm-gate cannabis retail outlets next to its sprawling licensed cultivation and processing facilities in Scarborough and London, in Ontario.
The company’s stock recently traded up 9.1% to C$0.12 in Toronto and 4.1% to $0.09 In New York.
In a statement, the Vancouver, British Columbia, company said a 1,200 square foot farm-gate retail outlet will come up next to its 37,000 square foot licensed cultivation and processing facility in Scarborough, which sits on 16 acres of land. AgraFlora and its joint venture partner have the option to expand the current production area to 89,000 square feet.
Similarly, another 690 square foot farm-gate retail facility will adjoin its 8,000 square foot London, Ontario AAA Heidelberg-licensed craft cannabis cultivation facility. London is Canada's 11th largest metropolitan area and lies at the nexus of Toronto, Ontario, Detroit, Michigan, and Buffalo, New York, allowing the company an opportunity to tap into the cannabis tourism marketplace.
The product include CBD isolate performance tincture, CBD-infused rejuvenation gummies and CBD sport capsules
AgraFlora Organics International Inc () (OTCMKTS:AGFAF) announced Tuesday that its jointly owned subsidiary Eurasia Infused Cosmetics Inc is preparing to import a series of athlete-focused CBD products into Japan and Hong Kong.
The products, which include CBD isolate performance tincture, CBD-infused rejuvenation gummies and CBD sport capsules, will be imported in collaboration with the Toronto Wolfpack Rugby League Football Club and its subsidiary, Howlbrands Inc.
The Wolfpacks were recently promoted to the 2020 RLF Super League competition, the highest tier of English rugby league. By importing products to Japan, AgraFlora is breaking into the market that earlier this year played host to the 2018 Rugby World Cup.
READ: Valens GroWorks rebrands to The Valens Company
Its 50%-owned subsidiary Eurasia Infused, through its commercial concession with Hong Kong’s CBD Group Asia Inc, controls a distribution agreement for CBD and hemp-derived beauty, wellness and performance products within South Asia and the Pacific Rim.
CEO Brandon Boddy said the cash infusion at a substantial premium to market is indicative of AgraFlora's 'pole position' through the 'next phase of cannabis normalization'
AgraFlora Organics International Inc () (OTCPINK:AGFAF) announced that it has closed a non-brokered private placement offering consisting of 28,750 unsecured convertible debentures with an aggregate face value of $1,000 for gross aggregate proceeds of $28,750,000.
The diversified international cannabis company said the proceeds will be used as general working capital and to continue the company's continuing capital expenditures at its 2.2 million square foot Delta greenhouse complex, as well as its 51,500 square foot Winnipeg edibles facility.
READ: AgraFlora Organics subsidiary succcessfully completes first batch of CBD oil and distillate
“While Tier 1 LP peers continue to encounter challenges in remaining adequately capitalized throughout these dynamic market conditions, this material cash infusion at a substantial premium to market is indicative of AgraFlora's pole position through the next phase of cannabis normalization,” Agraflora's CEO Brandon Boddy said in a statement.
AgraFlora CEO Brandon Boddy said the partnership is a nod to the group’s capacity to deliver ‘technically superior’ extraction-ready material
AgraFlora Organics International Inc () (OTCPINK:AGFAF) said Wednesday that its wholly-owned subsidiary, Sustainable Growth Strategic Capital Corp (SGSC), a licensed cannabis company, has struck an extraction partnership for hemp processing with a top tier extractor in Quebec.
In a statement, AgraFlora said the partnership is with Greater Toronto Area-based SGSC’s joint venture partner Micro C45 Inc, a Canadian hemp company that has developed a post-harvest mechanical separation process for hemp biomass that results in higher extraction values.
Under the terms of the agreement, the supply partners will deliver to the extractor 44,000 kilograms of hemp biomass for crude and distillate extraction in four installments over six months. As the supply partners, Micro C45 will provide the high-quality hemp biomass to the extractor with SGSC serving as the funding partner.
