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Blueberries Medical Corp. (CSE: BBM) (OTC: BBRRF) (FRA: 1OA) (the “Company” or “Blueberries“), a leading Latin American licensed producer of medicinal cannabis and cannabis-derived products, is pleased to announce it has closed its over-subscribed, non-brokered private placement (the “Offering”) of units (the “Units”) at a price of C$0.25 per Unit for total gross proceeds of C$3,457,500.
Each Unit consists of one common share in the capital of the Company (a “Share”) and one Share purchase warrant (a “Warrant”). Each Warrant entitles the holder to acquire one Share at a price of C$0.35 until August 29, 2021.
“We are very pleased to have closed this financing, which saw major demand from the market and was heavily oversubscribed. This is an exciting time of growth for the company and this capital will allow us to invest in and scale our business effectively,” stated Dr. Patricio Stocker, Chief Executive Officer. “This financing included further investment from our founding shareholders, strategic investors, and participation by members of management and the board.”
The net proceeds of the Offering will be used to further expand the Company’s Colombian cultivation and extraction facilities as well as for working capital and general corporate purposes. The Company expects to close a second tranche of the Offering in September.
PowerOne Capital Markets Limited acted as finder in connection with the Offering. A 7% cash finder’s fee was paid together with the issuance of finder warrants (the “Finder Warrants”) equal to 7% of the Units placed. Each Finder Warrant entitles the holder to acquire one Unit for $0.25 until August 29, 2021.
About Blueberries Medical Corp. Blueberries is a Latin American licensed producer of naturally grown premium quality cannabis with its primary operations ideally located in the Bogotá Savannah of central Colombia and operations currently being established in Argentina. The Company is led by a specialized team with proprietary expertise in agriculture, genetics, extraction, medicine, pharmacology and marketing, Blueberries is fully licensed for the cultivation, production, domestic distribution, and international export of CBD and THC-based medical cannabis in Colombia. Blueberries’ combination of leading scientific expertise, agricultural advantages and distribution arrangements has positioned the Company to become a leading international supplier of naturally grown, processed, and standardized medicinal-grade cannabis oil extracts and related products.
Additional information about the Company is available at www.blueberriesmed.com. For more information, please contact:
Cautionary Note Regarding Forward-Looking Information This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward looking statements relate, among other things, to: the completion of the second tranche of the Offering, the proposed use of the net proceeds from the Offering, and the Company’s objectives, goals, and future plans.
These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: fluctuations in general macroeconomic conditions; fluctuations in securities markets; expectations regarding the size of the Colombian and international medical cannabis market and changing consumer habits; the ability of the Company to successfully achieve its business objectives; plans for expansion; political and social uncertainties; inability to obtain adequate insurance to cover risks and hazards; and the presence of laws and regulations that may impose restrictions on cultivation, production, distribution and sale of cannabis and cannabis related products in Colombia, Argentina and elsewhere; and employee relations. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
Additional information regarding the Company, and other risks and uncertainties relating to the Company’s business are contained under the heading “Risk Factors” in the Company’s Listing Statement dated January 31, 2019 filed on its issuer profile on SEDAR at www.sedar.com.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Weedmaps has come out as the latest online cannabis dispensary directory to purge its website of unlicensed shops in a move that Wikileaf CEO and Founder Dan Nelson calls continued growing pains for an industry that is constantly becoming more mainstream.
Weedmaps announced Aug. 21 that it will no longer allow illicit businesses to advertise on its platform in a move projected to undercut California’s vast illegal cannabis market, according to a CTV News report.
Nelson and the Wikileaf team made a similar decision in late 2017, when it cracked down on unlicensed businesses listed on its website. In early 2018, when California launched its legal adult-use cannabis market, Wikileaf purged its directory of all illegal dispensaries, cutting its list of 1,500 California shops back to 577, Nelson says.
Two driving forces led Wikileaf to its purge, he adds: feedback from dispensaries and an eye toward a listing on the Canadian Securities Exchange.
Wikileaf’s dispensary onboarding team received ongoing feedback from businesses expressing dismay when, after they went through the painstaking licensing process and displayed compliance with California regulations, their dispensary was displayed on online platforms next to nearby dispensaries that had not received licenses.
“It was their view, which I believe is also a true one, that the platforms were enabling these black-market businesses to siphon off business that really should have gone to the legal outlets,” Nelson says. “That was the first bit of feedback that we were getting every day from the dispensaries that we work with back in late 2017 and early 2018.”
Then, as the company ramped up plans for its listing on the CSE, it began looking more closely at its compliance with each state’s advertising regulations and laws regarding unlicensed dispensaries. This eventually led Nelson and his team to conclude that Wikileaf needed to purge its platform of illicit businesses in order to take the company public.
“Both of those things caused us to pull the trigger, and once we decided to do it, our data entry team had culled the herd in probably about three days tops,” Nelson says.
The Wikileaf team used government resources and pulled cannabis business’s license numbers and contact information into a spreadsheet, and then compared that line by line with the dispensaries in the Wikileaf database. The businesses not listed on the master spreadsheet of licensees were simply deleted from Wikileaf’s website.
To maintain a compliant database, Wikileaf has set up what are called visual pings on the government websites, Nelson says. Any time a piece of text is changed on those web pages—any time a business loses or gains a license—the Wikileaf team is notified within 24 hours and can update its database accordingly.
Dispensaries can sign up online to be listed on Wikileaf’s database, and an additional field is now included for the business’s license number. Without a license number, a dispensary will not be considered for the platform, Nelson says.
“If we really want to have a totally legal market, then it’s going to take participation from all of the platforms, I think, together,” he says. “That’s Wikileaf, that’s Leafly, that’s Weedmaps, [and] that’s probably even Facebook and Instagram [that need] to get on board with only allowing licensed dispensaries. If a dispensary is not willing to show a provider their license, they should not be on the platform. I think that’s the best way for the industry to move forward for consumers and for the businesses themselves.”
Wikileaf did receive some pushback from the unlicensed dispensaries it booted from its platform in early 2018, he adds.
“Some dispensaries were using us essentially as their website, where they would drive their customers to their Wikileaf page so their customers could see what they had to offer,” Nelson says. “They were very much utilizing the site, they were encouraging reviews on their page and all that, so when we pulled it out from under them—we sent out a memo the same day, letting everyone know why we did what we did—but obviously, they felt like the rug was pulled out from under them.”
Nelson points out that the issue is not isolated to California. For example, in 2014 and early 2015, when Washington transitioned from a medical-only to an adult-use market, many of the medical dispensaries that did not receive an adult-use license operated in a legal gray area for a few months, Nelson says.
“They weren’t necessarily getting their doors knocked in by the feds or anything, but they were also not technically legal to operate,” he says. “This gray zone operated in the interim between the medical and recreational transition for a few months, and we had to make the same decision back then to pull the medical shops that we had been working with for a while just because they lost their license. … It’s basically just growing pains and getting through the first official phases of legalization.”
In North America, the focus on the cannabis industry is increasingly shifting toward recreational cannabis demand – and the revenues generated. There is a good reason for this.
The recreational cannabis market has more immediate revenue/growth potential. The recreational cannabis market can offer consumers much greater product variety. The recreational cannabis market offers significantly more branding/marketing potential.
That said, cannabis investors seeking to maximize their investment returns should not ignore the medicinal cannabis market and its increasing global potential.
Let’s do the math. The population of Canada and the United States represents less than 5% of the global population. While these are generally affluent economies, other nations (especially in the Asia Pacific region) are rapidly closing the economic gap.
Currently (along with North America), medicinal cannabis is legal in much of Europe, a growing percentage of South America, Australia, and it is just beginning to be legalized in Asia. Only a small percentage of the global population has legalized medicinal cannabis (so far). Even so, the overall potential of medicinal cannabis today exceeds the current potential for the recreational cannabis market.
A new research report (August 2019) emphasizes this potential.
Edibles and concentrates are already legal in dual-use U.S. states. These value-added products are about to become legal in Canada nationally when Phase 2 of legalization takes effect in October 2019.
Still even with this higher growth potential (in percentage terms), the long-term global potential for medicinal cannabis greatly exceeds this. Again, it’s a numbers game.
With the 95% of the global population outside the U.S. and Canada, new/larger markets can open up internationally that will instantly alter the market dynamics.
India is now moving toward legalizing medicinal cannabis. Its first cultivation license has been issued. A bill has been introduced into India’s Parliament to legalize medicinal cannabis. By itself, that would more than double the total global population with access to medicinal cannabis.
China’s approach to cannabis is much murkier. There is legal, government-sponsored hemp production in two of China’s provinces, on a large scale. There is ‘unofficial’ hemp cultivation (on a smaller scale) that is generally ignored by government – some with THC content above the 0.3% threshold that is generally deemed to separate “industrial hemp” from regular cannabis.
However, China’s government remains adamantly opposed to cannabis legalization. Its phobic attitude here is undoubtedly a cultural memory of the Opium Wars, where the West (primarily Britain) inflicted grievous harm on China – socially and economically – by saturating China with imported opium from British India.
Even without China, there are many other populous nations in Europe, Asia and South America. As some of these other nations also move toward legalization of medicinal cannabis, this can rapidly tilt the overall global market in favor of medicinal demand.
Inside Canada and the U.S., medicinal cannabis demand remains a very important component of the overall market. New consumers have less resistance to trying cannabis as a medicinal therapy than using it recreationally.
In the U.S., three times as many states have legalized medicinal cannabis (33) as have legalized both recreational and medicinal use (11). A recent Seed Investor article looked at some of the very robust growth numbers for medicinal cannabis from individual U.S. states.
In Oklahoma, which has taken a very progressive approach to medicinal cannabis, the state is adding 641 new medicinal patients per day. A total of 4.1% of Oklahoma’s population have already used cannabis for medicinal purposes. But this number is just a drop in the bucket.
Nearly 70% of Americans are on prescription drugs. More than half take two or more. Many of these drugs cause numerous dangerous and/or life-threatening side effects. Additionally, 75% of Americans also use one or more over-the-counter drugs.
In comparison, cannabis is completely safe and benign. Medicinal usage rates in U.S. states can be expected to increase by at least a factor of ten over the longer term. And in U.S. states with lower (current) rates of medicinal cannabis use, that increase will be proportionately much greater.
The global pharmaceutical industry is a $1 trillion per year revenue pie. But it is an industry in ill health – much like the consumers who use its chemical concoctions. New patents are costing much, much more and taking longer than ever to bring to market.
Big Pharma has simply run out of new chemicals it can bring to market that don’t cause more harm than the diseases they attempt to treat.
Medicinal cannabis is already being prescribed as a therapy for thousands of medical disorders. Over the long term, medicinal cannabis can be expected to take much (maybe even most) of that $1 trillion pharmaceuticals market.
Recreational cannabis demand and adult use markets currently occupy most of the attention of cannabis investors. However, a well-balanced cannabis portfolio will also have considerable exposure to medicinal cannabis.
Vapen MJ Ventures (OTCQX: VAPNF) (CSE: VAPN) (“Vapen MJ”) a fully integrated agricultural technology, services and property management company in the regulated cannabis industry, today announced a new product collaboration with Mexican-American rapper and singer Baby Bash.
Vapen is releasing a “Baby Bash Powered by Vapen” line of Vapen Pen Batteries and Bash Berry, a new cannabis cartridge flavor. The batteries, available in gold and rose gold, may be used for CBD or Cannabis products. The Bash Berry cartridge, also available in gold and rose gold, is a medical cannabis product.
Baby Bash will be making a personal appearance from 4:00 p.m. to 8:00 p.m. Pacific time on the product launch date of August 30, 2019 at Vapen’s Wellness Spot, located at 4140 W. Indian School Road in Phoenix, AZ. The Wellness Spot is adjacent to Herbal Wellness Center on Indian School Road.
Vapen’s collaboration with Baby Bash expands Vapen product visibility with Latino millennials, who account for over 20% of all U.S. millennials. Baby Bash first received mainstream attention with his popular single “Suga Suga”, which peaked on the Billboard Hot 100 at No. 7 and has more than 129 million YouTube views. Other hits include Cyclone, with more than 57 million views and Baby I’m Back with over than 29 million views on YouTube. Baby Bash’s participation in the launch will enhance Vapen’s brand amongst the large, Latino youth demographic with prominent Instagram promotions by Baby Bash, other influencers and Vapen, as well as other forms of social media and earned media.
“Working with Baby Bash, who shares our mission to improve people’s lives and increase awareness of the benefits of our products, is a unique opportunity for Vapen,” commented Thai Nguyen, Founder and Chief Executive Officer of Vapen MJ Ventures. “This exciting product collaboration with a leading artist who brings a diverse following of millennials aligns with our strategy to increase our product reach and expand our brand awareness in new markets.”
Baby Bash Powered by Vapen Pen batteries and Baby Bash Powered by Vapen Bash Berry cartridge are available for purchase beginning August 30th at The Wellness Spot, Herbal Wellness Center and wherever Vapen products are sold. For more information on these products and other Vapen products, please visit our websites at www.vapenmj.com or www.vapencbd.com.
About Vapen MJ Ventures
Vapen MJ, through its wholly-owned subsidiaries, currently operates in the US as an agricultural technology, services and property management company utilizing a full vertical integration business model to oversee and execute all aspects of cultivation, extraction, manufacturing (THC and CBD cartridges, concentrates, edibles), retail dispensary, and wholesale distribution of high margin Cannabis THC and Hemp CBD products under the Vapen Brand. Vapen MJ expansion plans include partnering with cannabis license holders and hemp farms in multiple states within the US.
may have seen the standard notice from the Nasdaq coming! However, it seems
like the business guru wasn’t prepared for it since it was shaken a great deal.
Amyris skips deadline
The body, in its report, outlined that
the business was no longer in compliance with its Listing
Rule 5250(c)(1). The rule provides that all the listed companies make a timely
filing of their periodic financial reports. The business skipped the deadline
for filing its report with the Securities and Exchange Commission.
says the focus on the development of top-notch ingredients for the Health &
Wellness market has been challenging. The business says these challenges might
have played a part. The rest of the companies had filed their annual reports on
Form 10-K in good time. This was of course for the year ended December 31,
2018. The company didn’t also comply in line with the quarter ended March 31,
2019. It should also have filed a timely quarterly report on the Form 10-Q.
Nasdaq and its governing rules
Securities and Exchange Commission just like the rest of the organizations
around the globe, is governed by some rules. The body has over the years been
advocating for companies to do things the right way to avoid being penalized or
other serious consequences.
NASDAQ notice is a red flag for the company. However, as per this particular
moment, it doesn’t yet pose any immediate effect on it and its business
operations. The listing or trading of the company’s stock goes on as usual.
That is of course on the listing or trading of the Global Select Market of NASDAQ.
light of the rules governing the listing segment on NASDAQ, Amyris should have
submitted its plan in time. To be able to regain compliance was supposed to
have acted by June 3, 2019. Lucky enough for the business giant, it had already
written down its plan, and the body had also accepted it.
says it will focus on its goal to achieve compliance. If all moves as per the
plan, by September 30, 2019, it will have accomplished everything. It was just
the other day that the company held talks with several auditors whom it wanted
to assist it in the filing of the compliance.
CHICAGO and VANCOUVER, British Columbia, Aug. 26, 2019 (GLOBE NEWSWIRE) PRESS RELEASE — Green Thumb Industries Inc. today announced it has closed on a transaction to acquire New York-based Fiorello Pharmaceuticals, one of only 10 companies approved to operate a medical marijuana company in the state. Assets include a manufacturing and cultivation facility in Schenectady County and a retail store in each of the following locations: Manhattan, Rochester, Halfmoon and Nassau County, three of which are open.
“As one of only 10 license holders in a state with a population of approximately 20 million, this acquisition is firmly in line with our strategic goal of entering highly regulated markets to manufacture and distribute cannabis brands at scale,” said GTI Founder and Chief Executive Officer Ben Kovler. “We believe entry into New York is an important milestone as we empower the right to wellness through responsible increased access to cannabis and are privileged to serve the people of New York seeking relief and an enhanced quality of life.”
New York’s medical marijuana market has more than 105,000 registered patients as of August 20, almost doubling since January 2018. The state’s program has 15 qualifying conditions including chronic pain, post-traumatic stress disorder (PTSD), and opioid replacement, and allows for home delivery.
“GTI is the clear industry leader and we have been very impressed with GTI’s leadership team and vision for the future,” said Fiorello Pharmaceuticals co-CEO Susan Yoss. “New York will benefit from GTI’s medical cannabis expertise and the high-quality care and products that they will bring to the many patients suffering from debilitating and life-threatening conditions.”