Development News

04/03/2020 - 2:42pm
(L)Earning from Failure
(Acquisition, Cannabis, Development, Domains, Investment, Investors, Product Development, Production, Products, Research, Science, Security) The spectacular rise and crash of the Canadian cannabis stock market has been painful to watch, let alone to experience as an industry insider. The hype around the market has vanished and many investors are left disappointed. Large sustainable gains simply haven’t materialized as promised. The producers are clearly suffering. They have consistently been shedding value as they’ve been posting losses every quarter. Stock prices have plummeted along with consumer confidence. Attempts to reduce the cash bleeds through mergers, acquisitions, layoffs, restructures, fund raises, among others, have not resulted in any significant recovery. In short, the current model of a cannabis industry has failed. Dr. Markus Roggen, Founder of Complex Biotech Discovery Ventures (CBDV) How could it have been different? What should the industry have done differently? What makes the difference between failure and success? A recent article published in Nature (Volume 575) by Yin et al. titled “Quantifying the...
04/03/2020 - 10:00am
The FDA Crackdown on Coronavirus Medical Claims: CBD Companies, Take Note!
(Advertising, Cannabis, CBD, Development, Idaho, Marketing, Media, Product Development, Products, Social Media, United States, Websites) Unfortunately, in times of crisis and hardship there will always be companies attempting to take advantage of people, playing off of fear and desperation. Earlier this month, the FDA sent out a round of warning letters to companies that were selling fraudulent COVID-19 products. We’ve written extensively about what CBD companies should not do if they want to avoid FDA scrutiny, as well as the scrutiny that CBD companies have already received. And although none of the letters sent out in this round of FDA enforcement specifically referenced CBD products, at least one of the companies targeted does sell CBD products, and we have heard anecdotal reports of CBD companies making dubious statements related to the coronavirus that may or may not rise to the level of medical claims. In light of the foregoing, we thought it would be helpful to lay out the nature of the claims being made related to COVID-19 that the FDA will not tolerate, and to review the basics of labeling and advertising...
04/03/2020 - 8:35am
Revive Therapeutics Provides An Investor Announcement
(Acquisition, Cannabis, CBD, Consulting, Development, Exploring, Germany, Investing, Investors, Regulations, Research, Pharmaceuticals) Revive Therapeutics Ltd. (“Revive” or the “Company”) (CSE: RVV ), a life sciences company, has learnt that buy recommendations and letters are being circulated in Germany. The Company, along with the Federal Financial Supervisory Authority of Germany (“BaFin”) suggests shareholders fully understand these materials. BaFin advises all investors to check the information given in the buy recommendations by consulting sources, especially if the buy recommendations are made in an aggressive way and investors are signalled the prospect of higher profits. In Germany, the company’s shares are traded in the Open Market (Freiverkehr) segments of the Frankfurt and Stuttgart stock exchanges and on Tradegate. Investors can find information in a brochure published by BaFin, which is only available in German. “Investors can visit its website, , for up-to-date information pertaining to the Company and its continuing research and development efforts,” states Michael Frank, the Chief...…
04/03/2020 - 8:25am
Eleven Senators Push To Let Marijuana Businesses Access Federal Loan Programs
(Cannabis, Development, Growing, Hemp, Law, Legalization, Loans, Products, United States, Financial Services) Eleven senators sent a letter to leadership in a key committee asking that they add a provision allowing marijuana businesses to access federal loan services in an upcoming annual spending bill. In the letter, led by Sen. Jacky Rosen (D-NV), the lawmakers told the Appropriations Committee that it should “include report language prohibiting the Small Business Administration (SBA) from denying loan applications” to cannabis firms as part of the fiscal year 2021 spending bill for Financial Services and General Government and Related Agencies. “Over the last decade, there has been a clear shift in public opinion toward supporting the legalization of cannabis in the United States,” the letter, which was shared with Marijuana Moment, states. While the number of legal marijuana states continues to grow, and those jurisdictions continue to collect millions of dollars in tax revenue, SBA policy prohibits participation in their programs by companies that directly or indirectly “aid the use,...…
04/03/2020 - 8:25am
Harvest Health & Recreation Inc (OTCMKTS:HRVSF) Issues A Corporate Update: Signs An Accord To Acquire Interurban Capital Group, Inc For $85.8 Million
(Arizona, California, Cannabis, Development, Financing, Florida, Harvest Health & Recreation, Hemp, HRVSF, Investment, Iowa, Management, Maryland, Medical Marijuana, Pennsylvania, United States, Washington, Dispensaries) Harvest Health & Recreation Inc (OTCMKTS:HRVSF) has signed a definitive merger accord to takeover Interurban Capital Group, Inc for $85.8 million. The company will issue 309,452 multiple voting shares and assumes a debt of $19.1 million, which will be converted into 205,594 multiple voting shares. The assets of Interurban Capital comprise indirect and direct licenses. Interurban Capital holds rights to takeover entities together with licenses in Washington, Iowa, and California. Greater financial flexibility Steve White, CEO of Harvest Health said the company is pleased to welcome Heart dispensaries into its family. Following the merger with Interurban Capital, Harvest Health gets access to funds. Also, the new set of shareholders provides greater financial flexibility to Harvest Health. It will get access to more resources for investment in key markets that comprise Pennsylvania, Maryland, Florida, and Arizona. Harvest Health increases the footprint The merger is subject to the...…
04/03/2020 - 4:04am
Hemp Oil Market 2020-Industry Size, Growth Factors, Top Leaders, Development Strategy, Future Trends, Historical Analysis, Competitive Landscape and Regional Forecast 2027 - Germany English News
(Development, Germany, Hemp) Hemp Oil Market 2020-Industry Size, Growth Factors, Top Leaders, Development Strategy, Future Trends, Historical Analysis, Competitive Landscape and Regional Forecast 2027 Germany English News…
04/02/2020 - 5:00pm
Infographic: Odorless Cannabis the Latest in Cultivation Technology
(Cannabis, CBD, Development, Exploring, Growing, Investing, Investment, Investors, Legalization, Manufacturing, Medical Marijuana, Production, Products, Recreational, Research, Recreational Cannabis, Pharmaceuticals, Cultivation, Security) CannabCo believes its PureCann technology has the potential to create a new odorless cannabis segment within the cannabis industry. As the legalization of cannabis continues to open up new markets, the global cannabis marketplace is projected to grow to reach US$73.6 billion by 2027, according to Grand View Research . The medical segment of the cannabis market grew the most in 2019, growing by 71 percent as cannabis was embraced as a legitimate medical product for treating conditions including cancer, arthritis, Parkinson’s disease, Alzheimer’s disease, chronic pain and inflammation. The emergence of cannabis as both a recreational product and a critical component of a number of medicines has contributed to the increase in research and development conducted in the cannabis space. While cannabidiol and the emergence of CBD-based treatments have dominated the medical cannabis segment, the recreational cannabis space has begun to experience its own influx of improvements as legal...…
04/02/2020 - 12:41pm
Teen Weed Smokers May Have Trouble Falling Asleep as Adults, New Study Says
(Cannabis, Colorado, Development, Genetics, Medical Marijuana, Research, Strains, United States) Many cannabis users swear that weed can help them get a good night's sleep, but clinical evidence suggests that the connection between pot and sleep is more nuanced than it seems. A new study recently published in the Sleep journal found a link between adolescent cannabis use and adult insomnia, further complicating the issue. Researchers from the University of Colorado Boulder looked at data from the Colorado Twin Registry, which has been collecting research data on twins since 1968. From this database, researchers identified 1,882 young twins that had completed surveys about their mental health, sleep patterns, and cannabis use. The researchers adjusted their findings to account for depression, anxiety, and night shift work, which can all impair sleep. The study reports that around a third of all subjects who began using cannabis regularly before the age of 18 experienced insomnia as adults. In comparison, only 20 percent of subjects who did not regularly smoke weed as teens ended...…
04/02/2020 - 9:06am
Israeli Cannabis Connection Grows
(Canada, Cannabis, Compliance, Containers, Development, Financing, Food, Growing, Investment, Investors, Israel, Management, Marketing, Medical Marijuana, Production, Products, Research, SPRWF, Pharmaceuticals, Cultivation, Hedge Fund) Israel has been the center of some of the strongest research on cannabis, but for years remained in the research only field. That is beginning to change as more Israeli companies are raising money and more cannabis is being imported to the country. Panaxia Labs Pharmaceutical company Panaxia Labs Israel Ltd. (TASE: PNAX) said that it completed a successful fundraising round of 17 million ILS (Israeli shekels) or approximately $4.6 million by today’s currency exchange. The private placement consists of common stock and warrants to Israeli Institutional Investors: the provident funds, mutual funds, and portfolio management entities of Mor Investment House and Noked Capital Hedge Fund. Total gross proceeds raised, including the exercise of the option by the company, are 23 million ILS. In connection with the offering, the company issued 6,319,703 shares of the company’s common stock at a purchase price per share of 2.69 ILS, and warrants to purchase an additional 5,055,762 shares of...
04/02/2020 - 8:12am
Tetra Bio-Pharma Inc. (TBPMF) Maps Out Cannabinoid Metabolites in Humans
(Acquisition, Canada, Cannabis, CBD, CBN, Compliance, Development, Events, Financing, Food, Growing, Insurance Companies, Investments, Plasma, Products, Regulations, Research, Stocks, Subsidiaries, TBPMF, Tetra Bio-Pharma, THC, Pharmaceuticals, Intellectual Property) Tetra Bio-Pharma Maps Out Cannabinoid Metabolites in Humans Following Inhalation of QIXLEEF Tetra Bio-Pharma Inc. (“Tetra” or the “Company”) (TBP.V) (TBPMF), a leader in cannabinoid-derived drug discovery and development, is pleased to announce the launch of a study to determine the levels of cannabinoid metabolites (e.g., 7-COOH-CBD), cannabinoid precursors (e.g., CBGA) and minor cannabinoids (e.g., CBN) in the plasma of humans. This study is important to the US Food and Drug Administration (“FDA”) and Health Canada to define the levels of these compounds in patients consuming cannabis and Tetra’s inhaled drugs QIXLEEF and CAUMZ. Tetra has launched a study to quantify the levels of cannabinoid metabolites and precursors as well as minor cannabinoids in the plasma samples of humans that received QIXLEEF in its clinical trials. The bioanalysis of these human plasma samples will allow Tetra to better understand how THC and CBD are degraded in humans and how long these compounds remain...
04/02/2020 - 8:09am
The Supreme Cannabis Company, Inc. (SPRWF) Completes First Shipment to Israel and Provides Corporate Update
(Canada, Cannabis, CBD, Compliance, Containers, Development, Events, Facilities, Food, Growing, Investments, Israel, Manufacturing, Medical Marijuana, Processing, Product Testing, Production, Products, Recreational, SPRWF, Stocks, Testing, Vaporizers, Cultivation) Supreme Cannabis Completes First Shipment to Israel and Provides Corporate Update The Supreme Cannabis Company, Inc. (“Supreme Cannabis” or the “Company”) (FIRE.TO) (SPRWF) (53S1.F) today announced the completion of its first international cannabis shipment from Canada into Israel . Supreme Cannabis partnered with Breath of Life International Ltd. (“BOL Pharma”), Israel’s largest and leading producer of medical cannabis and cannabis products, to offer Truverra-branded premium medical cannabis to patients in Israel . “This transaction represents a new international revenue opportunity for Supreme Cannabis and builds Truverra’s global medical brand in one of the most sophisticated medical cannabis markets in the world,” said Colin Moore , Interim President and CEO of Supreme Cannabis. “With the support of BOL Pharma, we navigated both Canada and Israel’s complex regulatory landscapes to achieve compliance with regulatory authorities in both countries, including Health Canada, the...…
04/02/2020 - 8:06am
Neptune Wellness Solutions Inc. (NEPT) Obtains Health Canada Authorization
(Canada, Cannabis, Cannabis and Hemp, Development, Events, Extraction, Facilities, GSML, Hemp, Hemp Industries, Investments, Law, Manufacturing, NEPT, Neptune Wellness, Neptune Wellness Solutions Inc., North Carolina, Oils, Processing, Processing Facilities, Production, Products, Research, Seed Oil, Stocks, Tracking, United States, Extracts) Neptune Obtains Health Canada Authorization and is Fast Tracking FDA Registration to Commercialize Plant-Based Hand Sanitizers Neptune Wellness Solutions Inc. (“Neptune” or the “Company”) (NASDAQ: NEPT) (TSX: NEPT), is pleased to announce today it has received Health Canada authorization to commercialize natural, plant-based hand sanitizer products. The Company has also engaged with the National Research Council of Canada (NRC), Canada’s largest federal research and development organization, to support NRC’s efforts to facilitate the development, manufacturing and ultimately commercialization of solutions to meet COVID-19 related needs. Neptune will leverage its product formulation expertise to develop natural, plant-based sanitizers that effectively kills 99.9% of germs and bacteria, made with a specialized blend of essential oils and fruit extract. The product will be formulated at the Company’s production and processing facilities in Sherbrooke, Quebec and Conover, North Carolina,...
04/01/2020 - 6:17pm
Montana Farmers Development Group Set to Begin Its 2020 Season - Yahoo Finance
(Development, Montana, United States) Montana Farmers Development Group Set to Begin Its 2020 Season Yahoo Finance…
04/01/2020 - 6:17pm
Montana Farmers Development Group Set to Begin Its 2020 Season - Fairfield Sun Times
(Development, Montana, United States) Montana Farmers Development Group Set to Begin Its 2020 Season Fairfield Sun Times…
04/01/2020 - 5:57pm
Nutritional High Announces Financial Results for Second Quarter Ended Jan 31, 2020
(Acquisition, Banking, Brand Development, Branding, California, Canada, Cannabis, CLYXF, Colorado, Development, Distribution, Distributor, Edibles, Events, Extraction, Facilities, Growing, Investing, Investment, Law, Legalization, Management, Manufacturing, Media, Medical Marijuana, Nevada, Nutritional High International Inc., Oregon, Processing, Production, Products, Recreational, Regulations, Research, SPLIF, Subsidiaries, United States, Vaporizers, Vertically Integrated, VMGI, Washington, Dispensaries, Extracts, Security) Nutritional High International Inc. (“Nutritional High” or the “Company”) (CSE: EAT , OTCQB: SPLIF) is pleased to announce its financial results and business update for the second quarter ended January 31, 2020. All Figures in Thousands CAD, unless otherwise stated Green Therapeutics (Nevada) and Palo Verde (Colorado) financials are not consolidated in these results * Historically, revenue was derived from lease and interest income; beginning fiscal Q3 2018, the Company started to earn revenue from Cannabis sales Q2 2020 Financial Highlights: Revenue$3.1 million from the sale of cannabis related products, primarily generated from our distributor in California, Calyx Brands Inc. (“Calyx”). Q2 Revenue represents a decline of $3.5M vs prior quarter and $3.0M vs prior year, due to the termination of the distribution relationship between Calyx and a subsidiary of Plus Products Holdings Inc. Despite this lost business, Calyx continues to have a strong retail footprint of 600+ dispensaries...…
04/01/2020 - 5:16pm
World-Class Acquires Controlling Interest in Pineapple Express Cannabis Delivery
(Acquisition, California, Canada, Cannabis, Cannabis and Hemp, Compliance, Development, Distribution, Events, Extraction, Financing, Growing, Hemp, Investing, Investment, Joint Ventures, Law, Management, Nevada, Oils, Oregon, Partnerships, Processing, Products, Recreational, Regulations, Research, Software, United States, Recreational Cannabis, Security) World-Class Extractions Inc. (CSE: PUMP ) (FRA:WCF) (OTCQB:WCEXF) (the “Company” or “World-Class”), an innovation-driven company that deploys and manages purpose-built cannabis and hemp extraction and processing centres, is pleased to announce the signing of a definitive investment agreement (the “Investment Agreement”), dated effective March 27, 2020, outlining the terms and conditions with respect to an acquisition (the “Acquisition”) of Pineapple Express Delivery Inc., (“Pineapple Express Delivery” or “PED”), an arm’s length, privately held, Toronto-based company offering different types of legal delivery services (including same day and next day) to the cannabis sector in Canada. Pineapple Express Delivery’s financial results will be reported with World-Class on a consolidated basis. Pineapple Express Delivery currently has several contracts in place with Licensed Producers (“LP’s”) for delivery within select provinces in Canada. Pineapple Express Delivery is targeting to become...…
04/01/2020 - 5:07pm
The Daily Hit: April 1, 2020
(Cannabis, Colorado, Consultants, Consulting, Development, Distribution, Green Organic Dutchman, Green Organic Dutchman, Illinois, Investments, Investors, Iowa, Law, Organic, Research, Switzerland, TGODF, Therapix Biosciences Ltd., THXBY, United States, Patents, Pharmaceuticals, Intellectual Property) It’s time for your Daily Hit of cannabis financial news for April 1, 2020. On The Site MariMed MariMed Inc. (MRMD:OTCQX) quarterly revenues for the quarter ending December 31, 2019, increased 50.9% to $5.19 million versus $3.44 million for the same period of 2018. The company attributed the increase to the roll-up up of MariMed’s licensed client businesses in Illinois in the fourth quarter of 2019. Fourth-quarter 2019 revenues were also bolstered from new distribution channels secured for MariMed’s Betty’s Eddies and Kalm Fusion brands. The company did not disclose the net loss for the quarter. Full Year 2019 For the full year ending in December, total revenues grew to approximately $45.6 million. Core cannabis sales for the fiscal year 2019 were $16.6 million, a 40.0% increase compared with $11.9 million for the fiscal year 2018. The operating loss for 2019, including the GenCanna receivable reserve, was $41.6 million, compared with an operating loss of $5.4 million for the full year...
04/01/2020 - 5:00pm
Montana Farmers Development Group Set to Begin Its 2020 Season - Press Release - Digital Journal
(Development, Montana, United States) Montana Farmers Development Group Set to Begin Its 2020 Season - Press Release Digital Journal
04/01/2020 - 1:24pm
Cannabis Brands in Culture: Tyson Ranch
(Branding, California, Cannabis, Development, Marketing, Media, Nevada, Products, United States, Dispensaries, Extracts) The Brand Marketing Byte showcases highlights from Pioneer Intelligence ’s Cannabis Brand Marketing Snapshots, featuring data-led case studies covering marketing and business development activities of U.S. licensed cannabis companies. Here is a data-led, shallow dive on the California brand, Tyson Ranch: Tyson Ranch – Cannabis Brands in Culture To just about every American, Mike Tyson is a household name, even after retiring from boxing for more than 15 years. For the uninitiated, Mike Tyson founded Tyson Ranch (TR), his cannabis licensing and branding company, about two years ago. The brand’s flower, extracts and infused products are distributed to dozens of dispensaries throughout California. Last year, the brand developed plans for a boutique luxury resort outside of Palm Springs. About six months ago, the brand expanded its footprint to another state, with TR cannabis products showing up on dispensary shelves in Nevada. Last week, Tyson Ranch gained some media attention, but this...…
04/01/2020 - 10:52am
Cardiol Therapeutics Announces Study Results Confirm the Cardioprotective Role of its Pharmaceutical Cannabidiol Formulation in a Model of Heart Failure
(Cannabis, Cardiol Therapeutics, CBD, CRTPF, Development, Production, Research, Pharmaceuticals) Data Accepted for Presentation at the American College of Cardiology Annual Meeting Oakville, Ontario–(Newsfile Corp. – April 1, 2020) – Cardiol Therapeutics Inc. (TSX:CRDL)(OTCQX:CRTPF) (“Cardiol” or the “Company”), a leader in the production of pharmaceutical cannabidiol (CBD) and the development of innovative cannabidiol medicines for heart disease, is pleased to announce that data submitted by its international research collaborators were accepted for presentation at the American College of Cardiology’s (ACC) 69th Annual Scientific Session & Expo together with the World Congress of Cardiology, held virtually from March 28-30. All accepted abstracts will be subsequently published. The ... Read The Full Article On Get the latest marijuana stock news, cannabis on stock news on PotStockNews All content provided by Pot Stock News is subject to our Terms Of Use and Disclaimer .…
04/01/2020 - 10:00am
BFD Alert: Coronavirus Cannabis Scams and Pitfalls
(California, Cannabis, Cannabis and Hemp, CBD, CF, Compliance, Development, Financing, Food, Hemp, Investing, Investment, Investors, Law, Loans, Massachusetts, Medical Marijuana, Production, Products, Regulations, Science, United States, Dispensaries, Funding, Security) The rapid and devastating proliferation of COVID-19 has affected businesses worldwide, and cannabis is no exception. Here in California (and in other states), the state announced that medical cannabis dispensaries are essential and may remain open as part of the state’s Stay-At-Home order. The medical cannabis businesses that supply those dispensaries are also essential under that order. In addition, certain cities in California (like Los Angeles and San Francisco) have their own shelter-in-place or stay-at-home orders that also identify medical cannabis businesses and the businesses that supply them as essential. Unless a city or a county says otherwise, the state’s Stay-At-Home order protects the operation of medical cannabis businesses throughout the state. With medical cannabis businesses allowed to stay open and operational across the country during COVID-19, sales of medical cannabis to consumers has been on a tear. While increased medical cannabis sales and production is a...
04/01/2020 - 9:48am
1933 Industries Reports Second Quarter Financial Results for Fiscal Year 2020
(California, Cannabis, CBD, Colorado, Development, Distribution, Edibles, Events, Extraction, Facilities, Genetics, Growing, Hemp, Hemp Products, Investing, Law, Management, Manufacture, Manufacturing, Nevada, Processing, Production, Products, Recreational, Regulations, Strains, Subsidiaries, TGIFF, Topicals, United States, Vertically Integrated, Licensee, THC, Dispensaries, Recreational Cannabis, Cultivation) 1933 Industries Inc. (the “Company” or “1933 Industries”) (CSE: TGIF ) (OTCQX:TGIFF), a vertically integrated cannabis consumer packaged goods company, announces its second quarter 2020 (“Q2 2020”) financial results for the period ended January 31, 2020. All amounts expressed are in Canadian dollars. During Q2 2020, the Company successfully completed two capital projects that were its primary strategic focus: completion of its new Las Vegas cultivation facility and commencement of cultivation in such facility by its subsidiary, Alternative Medicine Association (AMA); and expansion of its cultivation and manufacturing operation to California under a management agreement with Green Spectrum Trading Inc. (“Green Spectrum”) to support its portfolio of consumer packaged goods and licensing partners. The projects spanned two quarters and required extensive capital expenditures and resources and are notable milestones for the Company. The Company also continued to attract premium brands as...…
04/01/2020 - 9:33am
Khiron to Educate Physicians on Medical Cannabis Online with Leading Latin American University
(Cannabis, CBD, Colombia, Compliance, Development, Distribution, Education, Events, Investing, Law, Manufacture, Medical Marijuana, Mexico, Production, Products, Regulations, Regulatory Compliance, Research, Science, Training, United States, Vertically Integrated, THC, Cultivation) Doctor education continues to be core to Khiron mission Partnership allows Khiron to include its medical education program with Tecnologico de Monterrey world-renowned continuing education platform for doctors, giving it prominent exposure to the Latin America medical community Co-developed, online educational content will focus on medical cannabis knowledge, application and potential therapeutic benefits of cannabinoid-based medicines to better meet patient needs Tecnologico de Monterrey, a top-3 Latin American university and the leading university in Mexico (Source: QS University Rankings) Khiron’s Phase 1, best in class cloud-based cannabis education and certification platform will be launched in Q2 2020 and feature interactive courses customized for specific medical cannabis conditions Khiron Life Sciences Corp. (“Khiron” or the “Company”) (TSXV: KHRN ), (OTCQB:KHRNF), (Frankfurt: A2JMZC), a vertically integrated cannabis leader with core operations in Latin America, today...…
04/01/2020 - 9:26am
Naturally Splendid to Launch Products on Amazon
(Acquisition, Bar, Beverage, Canada, Cannabis, Consulting, Development, Distribution, Edibles, Events, Extraction, Food, Foods, Growing, Hemp, Hemp Food, Hemp Foods, Investing, Management, Manufacturer, Manufacturing, Marketing, Media, Naturally Splendid Enterprises Ltd., NSPDF, Oils, Oregon, Products, Regulations, Testing, United States, Financial Services) Naturally Splendid Enterprises Ltd. (“Naturally Splendid”, “NSE” or “the Company”) (FRANKFURT:50N) (TSXV: NSP ) (OTC:NSPDF) is pleased to announce it has engaged AMZing Marketing Consulting to assist in expanding its e-commerce strategy. The expanded e-commerce strategy is in direct response to the rapidly changing purchasing habits of a wide segment of consumers. In this time of ‘physical distance’, on-line shopping has increased significantly and is expected to continue this trend. Company Branded products available on-line will include; Natera Hemp Foods(TM); Chii Hemp Foods(TM); and Natera Sport(TM) products such as the recently launched curcumin-based supplement, ProCurc(TM). E-commerce accounts have been established and inventory sent to Amazon for distribution. Naturally Splendid will provide updates as more Company Branded products become available at Amazon. AMZing Marketing CEO and founder Mr. Tim Wong states, “Naturally Splendid develops high- quality, nutritious, healthy...…
04/01/2020 - 8:28am
Cannabis Municipal Bonds Could Be The Future
(Alcohol, Arizona, Banking, Cannabis, Colorado, Connecticut, Consulting, Development, Education, Exploring, Growing, Investments, Investors, Iowa, Legalization, Minnesota, Missouri, Montana, New Jersey, New York, Products, Regulations, Tobacco, United States, Vermont) MPG Consulting has recently authored a report looking at the potential of Cannabis Municipal Bonds (CMB). Adam Orens, Founder of MPG and Sal Barnes, Managing Director, MPG have conducted a theoretical analysis using Colorado showing how the state can translate its cannabis revenue into a short-term bond amount of $166 million and long-term bond issued in the amount of $591 million resulting in $123 million and $438 million available for educational initiatives and infrastructure, respectively. States and municipalities already use revenue bonds as a way to pay for large projects. The investors of such bonds feel that the risk for these investments is lower since there is a captive source of revenue to pay the interest. The report gives Iowa as an example. That state allocates $55 million in gaming taxes every year to pay the debt on revenue bonds that were issued in 2009 and 2010. That money raised selling these bonds was then used for community revitalization, flood mitigation, and...
04/01/2020 - 8:20am
 InMed Pharmaceuticals Inc. (IMLFF) Announces Completion of Initial Phase 1 Clinical Trial
(Cannabis, CBN, Development, Events, IMLFF, InMed Pharmaceuticals Inc., Investments, Law, Management, Manufacturing, Netherlands, Production, Products, Stocks, Testing, Pharmaceuticals) InMed Announces Completion of Initial Phase 1 Clinical Trial of INM-755 CBN Cream in Healthy Subjects InMed Pharmaceuticals Inc. (“InMed” or the “Company”) (TSX:IN; OTCQX:IMLFF), a clinical stage pharmaceutical company developing medications targeting diseases with high unmet medical need and leading the way in the clinical development of cannabinol (“CBN”), today announced that all subjects participating in its 755-101-HV Phase 1 clinical trial have completed treatment and clinical evaluation. Study 755-101-HV is a randomized, vehicle controlled, double-blind, Phase 1 trial, examining the safety and tolerability of two strengths of INM-755 cream in 22 healthy adult volunteers over a 14-day treatment period. With treatment completed, InMed continues to anticipate reporting final study results in the second half of calendar 2020. “The end of the treatment phase is an exciting milestone and we now progress into sample analysis and data review,” said Alexandra Mancini , Senior Vice...…
03/31/2020 - 10:18pm
Bod Australia Limited Receives Tax Incentive Refund
(Australia, BDA, BOD Australia, Cannabis, Development, Products, Research) Bod Australia Limited receives $851,000 through an R&D tax refund. Medicinal cannabis healthcare products company, Bod Australia Limited (ASX: BDA) is pleased to advise that it has received an $851,000 R&D tax refund under the Australian Government's Research and Development Tax Incentive Scheme. The payment relates to R&D initiatives undertaken during FY2019. These included the phase I clinical trial […] The post Bod Australia Limited Receives Tax Incentive Refund appeared first on The Green Fund .
03/31/2020 - 11:36am
Cannabis Delivery Proves Essential During COVID-19 Quarantine
(Alcohol, California, Cannabis, Development, Exploring, Legalization, Louisiana, Pennsylvania, Recreational, United States, Licensee, Security) There are so many disturbing and upsetting developments that have occurred over the last month concerning the global pandemic, Coronavirus, that it is hard to count. But one specific development has been pretty interesting in regard to cannabis legalization. State after sate has determined cannabis to be an “essential” part of life. This is quite the validation the industry has been seeking since prohibition. And with this “essential” new status has come a surge in sales across the board as users stock pile the items they feel they need the most to get through these trying times. Although sales are surging for the industry overall, one group of license holders have become more essential than others: delivery services. Considering the nature of a viral pandemic and the need to stay as far away from other human beings as possible, it makes sense that having your groceries, alcohol, toilet paper and weed delivered would feel the safest. States like Louisiana, Pennsylvania and NJ, among...…
03/31/2020 - 11:08am
Asterion Signs DAA for $400 Million
(Australia, Belgium, Biotechnology, Canada, Cannabis, Cannabis Capital Corp, CBCA, Development, Events, Facilities, Financing, Investing, Investment, Investors, Law, Management, Manufacture, Medical Marijuana, Pharmaceutical Grade, Production, Products, Regulations, Research, Strains, United States, Pharmaceuticals, Cultivation, Funding) Asterion Cannabis Inc. (“Asterion” or the “Company”), announces that the Company and its wholly-owned Australian subsidiary, Asterion (Australia) Pty Ltd., (“Asterion (Australia)”), has entered into an exclusive Definitive Association Agreement (DAA) on March 30, 2020, to finalize the development, construction, maintenance and financing of the first ($400 million) phase of its facilities in Toowoomba, Queensland, Australia (“Project”) with entities within the Watpac Limited group (“Watpac”). Watpac is a large and well-known contractor in Australia and part of the BESIX Group, a global construction, property development and concessions company. The DAA sets out a process for the parties to rapidly enter into Design and Construct and Facilities Maintenance agreements (or agreements of similar nature). As part of the DAA Watpac will work with Asterion to finalise acceptable standard Australian commercial terms for these agreements and separately investigate opportunities for investment...…
03/31/2020 - 10:33am
CBD Industry Association Appoints New Executive Director While Current Director Takes Over Cannabinoid Medicine Studies Program
(Cannabis, CBD, Development, Education) FOR IMMEDIATE RELEASE Contact Information: CBD Industry Association Graciela Moreno, Executive Director 805-530-2424 MARCH 31, 2020 – Pismo Beach, CA – The CBD Industry Association has named Graciela Moreno Executive Director. Graciela previously served as the Director of Member Engagement and is stepping into the position vacated by Heidi Sewell who has taken on Executive Director duties for the Cannabinoid Medicine Studies program. “Heidi has been instrumental in the progression of CBDIA and we look forward to her doing the same for the CMS program. Gracie was a natural choice to take over Executive Director duties, since her work as the Director of Membership Engagement has been impressive. I look forward to the positive moves as we have a lot coming up”, said Celeste Miranda CBDIA Founder. The Cannabinoid Industry Association (CBDIA) captures the ceaseless developments in the CBD and cannabinoid industry and its explosive growth as the leading trade...…
03/31/2020 - 10:17am
Primo Nutraceuticals Signs LOI to enter in to Funding and Share Purchase Agreement for 25 Percent with Beauty Kitchen
(Acquisition, Branding, Canada, Cannabis, CBD, Celebrities, Cosmetics, Development, Distribution, Edibles, Events, Financing, Growing, Hemp, Investing, Management, Media, Nevada, New York, Nutraceuticals, Partnerships, Processing, Production, Products, Social Media, United States, Cultivation, Funding, Real Estate) Primo Nutraceuticals Inc. (CSE: PRMO , OTC:BUGVF, FSE:8BV, DEU:8BV, MUN:8BV, STU:8BV) (“Primo” or the “Company”) is pleased to announce that it has signed a letter of intent (“LOI”) with Heather Marianna, LLC parent company of (“Beauty Kitchen”) a Nevada company. The Board of Directors of Primo have approved, in principle, a proposal to acquire and raise funding in respect of its interests in the “Beauty Kitchen” projects into a newly incorporated subsidiary. Beauty Kitchen proposes a transaction whereby its management team (and affiliates) incorporates a Canadian corporation, tentatively called “Marianna, Inc.” to receive exclusive Canadian distribution rights to its CBD infused and non-CBD infused products in handmade beauty care, personal care, and cosmetic products. Primo will acquire ownership interest of a minimum of 25% in the newly incorporated subsidiary. Beauty Kitchen is a company that manufactures fresh handmade beauty care, personal care, and cosmetics products, which was...…
03/31/2020 - 9:29am
 Medical Marijuana, Inc. (MJNA) Expands Popular CBD Oil Tincture Line with Two New Flavors
(Argentina, Brazil, California, Cannabis, CBD, Development, Distributor, Events, Food, Hemp, Investment, Investments, Investors, Media, Medical Marijuana, Medical Marijuana Inc, Mexico, MJNA, Paraguay, Products, Research, Stocks, United States, Industrial Hemp, Pharmaceuticals) HempMeds®, Subsidiary of Medical Marijuana, Inc., Expands Popular CBD Oil Tincture Line with Two New Flavors Medical Marijuana, Inc. (OTC: MJNA) (the “Company”), the first-ever publicly traded cannabis company in the United States that launched the world’s first-ever cannabis-derived nutraceutical products, brands and supply chain, announced today that its subsidiary HempMeds® has expanded its popular line of naturally flavored Dixie Botanicals® Dew Drops Cannabidiol (CBD) Oil Tinctures to include strawberry and tangerine. “Our bodies have a natural endocannabinoid system and many of us are endocannabinoid deficient, which hinders that system from bringing our bodies to homeostasis,” said Dr. Stuart Titus, CEO of Medical Marijuana, Inc. “Easy-to-take products like the Dew Drops CBD Oil Tinctures provide a simple, convenient way to take care of our bodies.” Dixie Botanicals® Dew Drops CBD Oil Tinctures, including the new strawberry and tangerine flavors, are naturally flavored and...…
03/31/2020 - 9:21am
03/31/2020 - 9:20am
Terra Tech Corp (OTCMKTS:TRTC) Reports Revenues Of $28.05 Million In 2019
(Abbott Laboratories, ABT, Cannabis, CBD, Development, Hemp, Manufacturing, Medical Marijuana, Products, Terra Tech Corp, TRTC, THC, Pharmaceuticals) Terra Tech Corp (OTCMKTS:TRTC) has posted revenues of $28.05 million in 2019. It is an increase of $7.89 million when compared to the previous year. The company has reported better results from the sale of herb products and the produce of Edible Garden, dispensary revenues ($3.71 million), and improved manufacturing operations. Adult-use and medical cannabis products CEO of Terra Tech, Matthew Morgan, said the cannabis market in 2019 experienced turbulence because of challenges posed by regulatory constraints and market volatility that restricted the operator’s ability to mobilize funds. However, Terra Tech continued its growth with adult-use and medical cannabis products in 2019. The company also began executing its strategy to merge with OneQor Pharmaceutical. Completes merger with OneQor Terra Tech has closed the merger with OneQor in early 2020. The merged entity is called Onyx Group Holdings. It will trade on the OTC markets under a new ticker symbol. Matthew will act as the...…
03/31/2020 - 9:18am
High Tide Revenue Rises With Canna Cabana
(Canada, Cannabis, Development, High Tide, High Tide Inc, HITIF) Alberta-based, retail-focused cannabis company High Tide Inc. (CSE:HITI) (OTCQB:HITIF) delivered its financial results for the first fiscal quarter of 2020 ending January 31, 2020. Revenue for the quarter increased by 173%, to $13.6 million from $5 million in the previous year. The company said that the increase in revenue was primarily driven by the retail segment of the Company with operations of Canna Cabana and KushBar. The company managed to trim its operating losses to $1.9 million from last year’s $4.8 million at the same time period. The net losses remained flat at $3.8 million for the 2020 fiscal first quarter. “High Tide’s first-quarter results for the 2020 fiscal year confirm the company’s positive trajectory towards profitability, with our best quarterly numbers since going public in December 2018. The Company’s significant year-over-year increases in revenue and gross profit, coupled with cost-cutting measures across the organization, have helped narrow our loss from...
03/31/2020 - 9:01am
Pharmacyte Biotech Inc (OTCMKTS:PMCB) Releases A Series Of Q&A Articles To Provide Insight Into Submission Process Of IND And The FDA Required Tests
(Cannabis, Development, Hemp, Medical Marijuana, PharmaCyte Biotech, PharmaCyte Biotech, Inc., PMCB, Production, Thailand, Pharmaceuticals) Pharmacyte Biotech Inc (OTCMKTS:PMCB) has released several Q&A articles that provide insight into the submission process of IND (investigational new drug application), and the FDA required tests. Dr. Gerald W. Crabtree, Chief Operating Officer of Pharmacyte, provides the details into the IND submission process and the necessary tests. He brings in more than fifty years of experience in pharmaceutical and biotech companies and in academia. Gerald played a major role in developing drugs and cancer treatments. He also coordinated and monitored several drug candidates’ development and prepared several clinical protocols, monographs, and investigator brochures. Pharmacyte awaits test results of the pyrogenicity test What is the pyrogenicity test, and why is it needed? According to Gerald, FDA intends to know whether the Cell-in-a-Box capsules, which are used in the LAPC treatment, have any fever inducing properties. Pyrogenicity is conducted to collect this data and submit to the US...…
03/31/2020 - 8:53am
Emerald Health Releases Limited Earnings Information
(Canada, Cannabis, Development, Distribution, Emerald Health Therapeutics, Emerald Health Therapeutics Inc., EMHTF, Facilities, Product Development, Production, Products, Recreational, VFF, Village Farms, Recreational Cannabis, Cultivation, Retail Sales) Emerald Health Therapeutics, Inc. (OTCQX:EMHTF) reported some of its results for the fourth quarter and year of 2019 for its British Columbia-based joint venture, Pure Sunfarms (PSF). The company release the net sales for the year and the fourth quarter of 2019 were $82.8 million and $12.1 million, respectively, compared to $4.9 million and $4.7 million. The company said this consisted entirely of dried cannabis. PSF also recognized revenue of $8.1 million upon the completion of the Settlement Agreement with Emerald in Q4, but it wasn’t clear if this figure was included in the $12 million figure or if it was in addition to that. The press release noted that it was providing audited results, yet the net losses or income were nowhere to be found. Neither Sedar or the company’s website gave much information beyond the basics. Expenses did increase with selling, general and administrative expenses for the year and fourth-quarter at $10.4 million and $3.0 million versus 2018’s $3.4 million...…
03/31/2020 - 8:46am
The Valens Company Receives Conditional Approval to Graduate to the TSX
(Beverage, Canada, Cannabis, Cannabis and Hemp, Development, Edibles, Events, Extraction, Hemp, Investing, Investment, Investors, Law, Management, Manufacturing, Product Development, Products, Science, Testing, Topicals, Valens, Valens GroWorks, Valens GroWorks Corp, VLNCF) Valens GroWorks Corp. (TSXV: VLNS , OTCQX:VLNCF) (the “Company”, “Valens” or “The Valens Company”), a global leader in the end-to-end development and manufacturing of innovative, cannabinoid-based products, is pleased to announce it has received conditional approval from the Toronto Stock Exchange (“TSX”) to uplist from the TSX Venture Exchange (“TSXV”) to the TSX. “Graduating to the TSX represents a significant milestone in our efforts to broaden our appeal to a larger shareholder base and raise the company’s profile among the investment community,” said Tyler Robson, CEO of The Valens Company. “Coming off a record year of growth for the company, this uplisting will work to enhance the liquidity of our stock and enable us to continue building long-term shareholder value.” Final approval of the listing is subject to the Company fulfilling any remaining conditions as required by the TSX. The Company expects to satisfy all of the requirements and will issue a statement once a trading...…
03/31/2020 - 8:35am
Weekend Unlimited Expands Branded Product Portfolio in Oklahoma to Meet Rising Demand
(Acquisition, Bar, Cannabis, CBD, Development, Distribution, Events, Investing, Management, Medical Marijuana, Oklahoma, Partnerships, Product Development, Production, Products, Recreational, Regulations, United States, THC, Dispensaries, Recreational Cannabis) Weekend Unlimited Industries Inc. (“Weekend” or the “Company”) (CSE: POT , FSE:0OS1, OTCQB:WKULF) is pleased to provide an update on the growth of its branded product line and sales team in Oklahoma. Having begun sales in late 2019, Weekend branded products are now in over 75 dispensaries in the state and expanding presence daily. Oklahoma was identified as an up and coming market, a focus for the Company’s strategic plan – to develop products to meet the demands within individual markets, establish a foothold and operate in an agile manner with the best partners, creating the right branded product mix for each market. Ultimately, the Company is designed to leverage the core branded products to expand into up and coming states and to replicate the responsive model. In Oklahoma Weekend has added two highly experienced cannabis sales representatives to its team to manage and grow the Company’s expanding retail relationship network. “Oklahoma is proving to be an ideal growth market for...…
03/30/2020 - 8:12pm
Charlotte’s Web Has New COO
(CBD, Colorado, CWBHF, Development, Distribution, Events, Extraction, Facilities, Genetics, Hemp, Management, Manufacturing, Production, Products, Topicals, United States, Extracts, Pharmaceuticals) Colorado-based CBD maker Charlotte’s Web has named a new chief operating officer to replace Stephen Lermer, who left the company Jan. 31. The Boulder company said in a release that David Panter is its new COO, effective Monday. Charlotte’s Web said Panter has more than 20 years of “global supply chain experience” at businesses including Estee Lauder Company, Campbell Soup Co., and Tyco Healthcare/Covidien. Lermer left the company exactly one year after starting his job.Panter will report to Deanie Elsner, Charlotte’s Web CEO. Charlotte’s Web Holdings lost $18.8 million last quarter, a plunge of 688% from the same period in 2018. Charlotte’s Web trades on the Toronto Stock Exchange as CWEB . Colorado-based Charlotte’s Web hires new chief operating officer THE FULL PRESS RELEASE Charlotte’s Web Names David Panter as Chief Operating Officer NEWS PROVIDED BY Charlotte’s Web Holdings, Inc. Mar 30, 2020, 09:07 ET Market Leading Hemp-Derived CBD Brand Enters into Next Phase of Growth and...
03/30/2020 - 5:43pm
The Daily Hit: March 30, 2020
(Acquisition, California, Cannabis, CBD, Delivery Systems, Development, Elixinol Global, EXL, HEXO, Manufacturing, Medical Marijuana, Pennsylvania, Product Development, Products, Research, Science, TerrAscend, TRSSF, United States, Vaporizers, Vaporizers, THC, Dispensaries, Cultivation, Intellectual Property) It’s time for your Daily Hit of cannabis financial news for March 30, 2020. On The Site Cronos Group Good luck making sense of Cronos Group Inc. ( CRON.TO ) ( CRON.TO ) 2019 fourth quarter and full-year business results. The company said it will restate its unaudited interim financial statements for the first, second and third quarters of 2019. The icing on the earnings cake was that it will also reduce revenue for the three months ending March 31, 2019, by C$2.5 million and the three months ended September 30, 2019, by C$5.1 million. HEXO HEXO Corp. (NYSE: HEXO) reported a staggering net loss of C$289 million for fiscal 2020 second-quarter ending January 31, 2020. The net revenue for Hexo increased by 17% to $17 million from $14.5 million in the first quarter. The earnings are reported in Canadian dollars. The loss from operations for the quarter was $289.4 million, compared with a loss of $60.6M in the prior period. The company said that excluding non-cash write-downs and impairment...
03/30/2020 - 4:30pm
Cronos Group Reports 2019 Fourth Quarter and Full-Year Results
(Cannabis, Development, Distribution, Israel, Production, Research) This Post Was Syndicated Under License Via QuoteMedia Completed Audit Committee Review and Restated Certain 2019 Unaudited Interim Financial Statements Expanded Canadian distribution to new provinces and product categories across the adult-use market Established Cronos Fermentation, a critical step in advancing the production of cultured cannabinoids in partnership with Ginkgo Bioworks Enhanced research and development capabilities at the Peace Naturals Campus Advanced operational readiness of Cronos Israel with GAP and GMP certifications TORONTO, March 30, 2020 (GLOBE NEWSWIRE) — Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) (“Cronos Group” ... Read The Full Article On Get the latest marijuana stock news, cannabis on stock news on PotStockNews All content provided by Pot Stock News is subject to our Terms Of Use and Disclaimer .…
03/30/2020 - 1:45pm
Medical Mushroom Company Champignon Brands To Acquire Tassili Life Sciences
(Acquisition, CBD, Delivery Systems, Development, Management, Research, Patents, Pharmaceuticals, Intellectual Property) Medicinal mushroom company Champignon Brands Inc. (CSE: SHRM) has entered into a definitive agreement to acquire Tassili Life Sciences Corp. in an all-stock deal. Tassili will receive 16 million shares, which is roughly C$7.3 million. The acquisition will expand Champignon’s preclinical trial pipeline, as well as its aggregation of broad intellectual property related to the development of novel psychedelics therapeutics and their delivery systems, targeting multiple pathological psychological diseases. Tassili working to develop effective psilocybin-based therapeutics for the treatment of mild traumatic brain injuries (mTBI) and/or post-traumatic stress disorder (PTSD). The company is doing this in partnership with a multidisciplinary team of scientists and physicians at the University of Miami. TRIALS UNDERWAY Under a collaborative research agreement with the University of Miami’s Miller School of Medicine, Tassili will conduct preclinical studies and eventually human clinical trials...…
03/30/2020 - 1:02pm
Bayou City Hemp Company Eyes Headquarters in Houston, Texas - Area Development Online
(Development, Hemp, Texas, United States) Bayou City Hemp Company Eyes Headquarters in Houston, Texas Area Development Online…
03/30/2020 - 10:18am
RAMM Pharma Corp. Announces Postponement of Filing of Interim Financial Statements
(Cannabis, Development, Distribution, Events, Investing, Law, Management, Manufacturer, Manufacturing, Product Development, Production, Products, Recreational, Regulations, Subsidiaries, Uruguay, Recreational Cannabis, Pharmaceuticals, Cultivation) RAMM Pharma Corp. (including its wholly owned subsidiaries, the “Company” or “RAMM”) (CSE: RAMM ), a leader in plant-derived cannabinoid pharmaceutical products, announces that pursuant to the blanket relief granted by the Canadian Securities Administrators it will not be filing its interim financial statements for the quarter ended January 31, 2020, and the related management’s discussion and analysis, as required by Parts 4 and 5 of National Instrument 51-102 – Continuous Disclosure Obligations (collectively, the “Interim Filings”) by the filing deadline of March 31, 2020. The Company expects to report results within the next two weeks, and is afforded a postponement up to a maximum 45-day extension pursuant to blanket relief for all market participants granted by the Canadian Securities Administrators. The Company’s primary focus during these difficult times is ensuring a safe and healthy environment for its workforce, and to continue to implement and enforce additional...…
03/30/2020 - 8:20am
Cronos Group Inc. (CRON) to Report 2019 Fourth Quarter and Full-Year Financial Results
(Canada, Cannabis, CBD, Development, Distribution, Events, Hemp, Investment, Investments, Management, Product Development, Production, Research, Stocks) Cronos Group Inc. to Report 2019 Fourth Quarter and Full-Year Financial Results on March 30, 2020 Cronos Group Inc. (CRON.TO) (CRON.TO) (“Cronos Group” or the “Company”) will report its 2019 Fourth Quarter and Full-Year Financial Results on Monday, March 30, 2020 after the close of trading on NASDAQ. The Company will host a conference call to discuss these results, its outlook and other matters on Monday, March 30, 2020 at 5:30 p.m. EDT. Cronos Group’s senior management team will discuss its financial results and will be available for questions from the investment community after prepared remarks. A live audio webcast of the earnings call will be available on the Company’s website at . Participants may also listen via telephone by dialing (866) 795-2258 toll-free from the U.S. and Canada, or (409) 937-8902 if dialing from outside the U.S. and Canada, with passcode: 6999389. The webcast of the call will be archived for replay on the...…
03/30/2020 - 8:10am
CB2 Insights Launches Industry’s First Medical Cannabis Insights Dashboard for All Medical Cannabis Stakeholders
(Cannabis, Colorado, Connecticut, Development, Education, Events, Financing, Investing, Investors, Law, Maine, Management, Maryland, Massachusetts, Medical Marijuana, Monitoring, New Jersey, Pennsylvania, Recreational, Regulations, Research, Software, Training, United States, Pharmaceuticals) CB2 Insights (CSE: CBII , OTCQB:CBIIF) (“CB2” or the “Company”), a leading data-driven company focused on bringing real-world evidence driven from the point-of-care to the medical cannabis community, has launched the medical cannabis industry’s first interactive dashboard which gives any industry stakeholders access to key patient insights derived from the Company’s clinical operations. The tool (link: ) is free to use and was created in order to answer hundreds of inbound questions from global industry stakeholders including government agencies and major research groups. The dashboard also allows users to submit additional data requests directly to the Company’s research and data team. “Over the last several months, we have seen hundreds of requests for data and insights from stakeholders such as government bodies, researchers, pharma companies, physicians, hospital networks, cultivators, and the list goes on,” said Prad Sekar, CEO of CB2 Insights. “This...…
03/30/2020 - 7:56am
World Class Extractions Reports Operating and Financial Results for the Nine-Month Period Ended January 31, 2020
(Acquisition, Cannabis, Cannabis and Hemp, Consulting, Development, Events, Extraction, Facilities, Financing, Hemp, Investing, Law, Loans, Management, Marketing, Oils, Processing, Product Development, Products, Research, United States, Intellectual Property) World Class Extractions Inc. (“World-Class” or the “Company”) (CSE: PUMP , OTCQB:WCEXF, FRA:WCF) is pleased to report the operating and financial results for its third quarter ended January 31, 2020. Financial (unaudited) The Company had cash at January 31, 2020 of $7,469,714 (April 30, 2019 – $16,002,152) to settle current liabilities of $1,352,657 (April 30, 2019 – $325,281). Working capital as at January 31, 2020 is $13,363,057. The Company does not have any loans, convertible debt or long-term debt. Revenue of $75,562 for the quarter ended January 31, 2020 compared to nil revenue for the quarter ended January 31, 2019. Gross margin for the quarter ended January 31, 2020 was 40%. The net loss and comprehensive loss for the three months ended January 31, 2020 was $33,144,217 (as compared to January 31, 2019 of $3,585,161). The increased loss for the quarter is mainly attributed to the following: due to uncertainty in the realization of future economic benefits from the intellectual...…
03/30/2020 - 1:05am
Charlotte’s Web Reports $18.8M Q4 Loss, Executives Discuss Challenges and the Future
(Alcohol, California, Canada, Cannabis, Consultants, Containers, Development, Extraction, Facilities, Food, Hawaii, Law, Manufacture, Manufacturing, Packaging, Production, Products, Regulations, Stocks, Topicals, Training, United States, Vertically Integrated, Dispensaries, Security) Charlotte’s Web Reports $18.8M Q4 Loss, Executives Discuss Challenges and the Future In the wake of the COVID-19 global pandemic, U.S. and Canadian cannabis companies have a unique opportunity to aid those in need. Not only are their cannabis products increasingly being deemed essential by governments—but they also have the facilities, personnel and protocols already in place to fill the desperate need for medical supplies. These three companies are using those advantages to help their communities. Aloha Green Apothecary Photo courtesy of Aloha Green Apothecary In Hawaii, Aloha Green Apothecary is producing hand sanitizer for its employees and patients, with plans to ramp up production as much as possible to donate hand sanitizer to other businesses and organizations in the state. “We’re just trying our best to meet our patients’ needs and follow the law with all the changes in law that the government is laying down,” Tai Cheng, a spokesperson for Aloha Green Apothecary, told Cannabis...…
03/30/2020 - 1:04am
DEA Takes Steps to Approve Cannabis Cultivation Applications, States Issue New Rules for Industry Amid COVID-19 Concerns: Week in Review
(ACB, Aurora Cannabis Inc., Canada, Cannabis, CGC, Development, Facilities, Jordan, Monitoring, Production, Stocks, Vertically Integrated, Dispensaries, Cultivation) DEA Takes Steps to Approve Cannabis Cultivation Applications, States Issue New Rules for Industry Amid COVID-19 Concerns: Week in Review The COVID-19 pandemic is forcing governments worldwide to take drastic measures to “flatten the curve” and reduce economic fallout, and Canada is no exception. The Great White North closed its border with the U.S. for all non-essential travel (goods are not included in that shutdown), shuttered schools, colleges and universities across the country, and provinces are taking steps to stop all non-essential businesses. The Canadian cannabis industry, for the most part, can operate as normally as it can. Dispensaries are conducting business with social distancing measures in place, deliveries can be made—although Canada Post will no longer deliver cannabis packages to purchasers’ homes , opting instead for postal office pickup to minimize delivery person exposure—and cultivation sites continue to operate. Both the Quebec and Ontario governments have...…