Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSE: IIPR) focused on the regulated U.S. cannabis industry, announced today that its board of directors has declared a third quarter 2019 dividend of $0.78 per share of common stock, representing a 30% increase over IIP’s second quarter 2019 dividend of $0.60 per share of common stock, and an approximately 123% increase over IIP’s third quarter 2018 dividend of $0.35 per share of common stock. The dividend is equivalent to an annualized dividend of $3.12 per common share, and is the fifth dividend increase since the Company completed its initial public offering in December 2016.
Additionally, IIP announced today that its board of directors has declared a regular quarterly dividend of $0.5625 per share of IIP’s 9.00% Series A Cumulative Redeemable Preferred Stock.
The dividends are payable on October 15, 2019 to stockholders of record at the close of business on September 30, 2019.
About Innovative Industrial Properties
Innovative Industrial Properties, Inc. is a self-advised Maryland corporation focused on the acquisition, ownership and management of specialized industrial properties leased to experienced, state-licensed operators for their regulated medical-use cannabis facilities. Innovative Industrial Properties, Inc. has elected to be taxed as a real estate investment trust, commencing with the year ended December 31, 2017. Additional information is available at www.innovativeindustrialproperties.com.
This press release contains statements that IIP believes to be “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than historical facts are forward-looking statements. When used in this press release, words such as we “expect,” “intend,” “plan,” “estimate,” “anticipate,” “believe” or “should” or the negative thereof or similar terminology are generally intended to identify forward-looking statements. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in, or implied by, such statements. Investors should not place undue reliance upon forward-looking statements. IIP disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Next Green Wave Holdings Inc. (CSE: NGW) (OTCQX: NXGWF) (“Next Green Wave”, “NGW” or the “Company”) is pleased to announce that it has partnered with the iconic “NoJumper” brand and host “Adam 22” to roll out its latest premium exotic flower strains. The products will be featured on a monthly basis through NoJumper’s Podcast with 45 million viewers per stream and Next Green Wave’s brand house SDC. The flower will be available at leading Los Angeles and San Diego dispensaries, including March and Ash within two weeks.
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With over 45 million views per stream, NoJumper has become an influential hub to launch upcoming musicians, artists and acts on its weekly celebrity-spot podcast show. NoJumper clothing and merchandise are currently sold at their Melrose store in Hollywood and Zumiez clothing stores nationwide.
This strategic partnership will enable Next Green Wave to gain access to major cultural events such as music festivals and leverage its many influencer and celebrity social channels that directly reach the Company’s target consumer demographic.
“We are really thrilled about the collaboration with NoJumper as it demonstrates we are ready to permeate major consumer markets and are delivering premium craft product that is being sought out for its quality and value, which is currently lacking in the legal market in California.” -Michael Jennings, CEO.
“Recently we did a test pop-up shop and meet and greet with Adam 22 in Chicago and to our surprise over 1000 people attended, some even slept in line overnight to be first inside. That is when we knew this brand has real reach and a powerful voice of influence.” – Ryan Lange CMO
In addition, the Company would like to announce that it has completed a Non-Brokered financing of 2,000,000 units (the “Units”) at a price of $0.25 per Unit for gross proceeds of $500,000 (the “Financing”). Each unit will be comprised of one common share of Next Green Wave (a “Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder there of to acquire one Share at a price of $0.35 for a period of 24 month, subject to an acceleration provision whereby in the event that at any time after the expiry of the statutory hold period, the Shares trade at $0.50 or higher on the Canadian Securities Exchange for a period of 10 consecutive days, the Company shall have the right to accelerate the expiry date of the Warrants to the date that is 30 days after the Company issues a news release announcing that it has elected to exercise the acceleration right.
There were no finders’ fees incurred in connection with the Financing.
The Company intends to use the proceeds from the Financing to accelerate inventory purchase requirements and marketing initiatives for our SDC products, brands, and operations.
NoJumper
Adam John Grandmaison, better known as Adam22, is an American podcast host, internet personality, and record executive. He is best known for being the creator and host of pop culture and hip hop-oriented podcast NoJumper. NoJumper has grown into a Mega Brand that started in a small BMX stop on Melrose Avenue next to the famed BAIT store. It is there that they started interviewing professional athletes and music celebrities for their podcast that quickly grew to over a million followers on Instagram. The team is well known for breaking new Hip Hop acts and introducing major artists on their channel.
About Next Green Wave
NGW is a fully integrated premium cannabis producer with 8 legacy brands and over 45 products through its subsidiary WEARESDC. Based in Coalinga, California the company owns and operates a state-of-the-art cultivation facility and is currently expanding operations on the cannabis zoned property it is situated on. NGW has a seed library of over 120 strains which include multiple award-winning genetics and cultivars and is developing its nursery cloning operations with bio-tech leader Intrexon. The company also has an investment in OMG, a Colombian cannabis operator with over 8,000 access points of sale. To find out more visit us at www.nextgreenwave.com or follow us on Twitter, Instagram, or LinkedIn.
On behalf of the board,
Michael Jennings, CEO
Next Green Wave Holdings Inc.
For more information regarding Next Green Wave, contact:
This press release contains forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, are “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward looking statements. Such risks and uncertainties include, among others, the risk factors included in the preliminary prospectus, including without limitation dependence on obtaining and maintaining regulatory approvals, including acquiring and renewing state, local or other licenses and any inability to obtain all necessary governmental approvals licenses and permits to complete construction of its proposed facilities in a timely manner; engaging in activities which currently are illegal under US federal law and the uncertainty of existing protection from U.S. federal or other prosecution; regulatory or political change such as changes in applicable laws and regulations, including U.S. state-law legalization, particularly in California, due to inconsistent public opinion, perception of the medical-use and adult-use marijuana industry, bureaucratic delays or inefficiencies or any other reasons; any other factors or developments which may hinder market growth; NGW’s limited operating history and lack of historical profits; reliance on management; NGW’s requirements for additional financing, and the effect of capital market conditions and other factors on capital availability, including closing of Tranche 1 and Tranche 2 of the Notes; competition, including from more established or better financed competitors; and the need to secure and maintain corporate alliances and partnerships, including with customers and suppliers. Readers are encouraged to the review the section titled “Risk Factors” in NGW’s prospectus. These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements. Although NGW has attempted to identify important risk factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other risk factors that cause actions, events or results to differ from those anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in forward-looking statements. NGW no obligation to update any forward-looking statement, even if new information becomes available as a result of future events, new information or for any other reason except as required by law.
Anthony Varrell is Managing Director of StoneBridge Partners LLC. SBP continues to drive market awareness for leading firms in the cannabis industry throughout the U.S. and abroad.
CannTrust Holdings Inc. (“CannTrust” or the “Company”) (TSX: TRST, NYSE: CTST) announced today that both the Special Committee of its Board and its new executive leadership team continue to make progress on bringing CannTrust’s operations and procedures into full regulatory compliance and ensuring the Company’s future. As part of these efforts, the Company is reducing its workforce.
“We have made the extremely difficult decision to restructure our workforce to reflect the current requirements of our business,” said Mr. Robert Marcovitch, CannTrust’s interim Chief Executive Officer. “These changes also position the Company to better serve our patients and customers with high quality, innovative products in the future.”
CannTrust reduced its workforce by approximately 180 people, or 20%. This action is expected to result in annual cash savings of about $9 million, as well as the Company recording approximately $2 million in severance costs. The majority of the affected employees were in cultivation and customer service support roles.
“Over the past two months, we have moved swiftly to assess and address the Health Canada report indicating areas of non-compliance in our operations, as well as the findings of the Special Committee’s independent investigation,” continued Mr. Marcovitch. “We remain fully committed to building the organization we need for future success and rebuilding the trust of all of our stakeholders.”
Since CannTrust’s announcement in July of Health Canada identifying non-compliance in certain aspects of the Company’s operations, the Company has:
Appointed a Special Committee of the board to investigate the causes and extent of the Company’s non-compliance and to provide oversight and direction to the Company’s remediation efforts and strategic review
Retained independent advisors to investigate and remediate the Company’s non-compliance under the supervision of the Special Committee
Terminated Chief Executive Officer, Mr. Peter Aceto for cause and demanded the resignation of Chair, Mr. Eric Paul
Appointed Mr. Robert Marcovitch as interim Chief Executive Officer
Placed a voluntary hold on the sale and shipment of all cannabis products
Developed a comprehensive remediation strategy to achieve full compliance with Health Canada’s regulations
Commenced a review of the Company’s strategy and business plan
“CannTrust is committed to acting decisively on the findings from the Special Committee’s investigation and on executing its Remediation Plan in a timely manner,” concluded Mr. Marcovitch. “Furthermore, we are currently developing a comprehensive go-forward business strategy. I look forward to sharing our vision for CannTrust’s successful future over the weeks and months to come.”
About CannTrust CannTrust is a federally regulated licensed producer of medical and recreational cannabis in Canada. Founded by pharmacists, CannTrust brings many years of pharmaceutical and healthcare experience to the medical cannabis industry and serves medical patients with its dried, extract and capsule products. The Company operates its Niagara Perpetual Harvest Facility in Pelham, Ontario, and prepares and packages its product portfolio at its manufacturing centre in Vaughan, Ontario. The Company has also purchased 81 acres of land in British Columbia and expects to secure over 240 acres of land in total for low-cost outdoor cultivation which it will use for its extraction-based products.
Forward-Looking Statements This press release contains “forward-looking information” within the meaning of Canadian Securities laws and “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and other applicable United States safe harbor laws, and such statements are based upon CannTrust’s current internal expectations, estimates, projections, assumptions and beliefs and views of future events. Forward-looking information and forward-looking statements can be identified by the use of forward-looking terminology such as “believes”, “expect”, “likely”, “may”, “will”, “should”, “intend”, “anticipate”, “potential”, “proposed”, “estimate” and other similar words, including negative and grammatical variations thereof, or statements that certain events or conditions “may”, “would” or “will” happen, or by discussions of strategy.
The forward-looking information and statements in this news release include statements relating to the corrective actions being taken by the Company, and Health Canada’s pending determinations. Forward-looking information and statements necessarily involve known and unknown risks, including, without limitation: actions taken in respect of the Company’s products by its customers and regulators; results of Health Canada’s investigation, including orders and compliance measures required by Health Canada and their impact on the operations, inventory, assets and financial condition of the Company; the Company’s implementation of remediation plans and related actions; regulatory approval; risks associated with general economic conditions; adverse industry events; loss of markets; future legislative and regulatory developments in Canada, the United States and elsewhere; the cannabis industry in Canada generally; and, the ability of CannTrust to implement its business strategies.
Any forward-looking information and statements speak only as of the date on which they are made, and, except as required by law, CannTrust does not undertake any obligation to update or revise any forward-looking information or statements, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for CannTrust to predict all such factors. When considering these forward-looking information and statements, readers should keep in mind the risk factors and other cautionary statements in CannTrust’s Annual Information Form dated March 28, 2019 (the “AIF”) and filed with the applicable Canadian securities regulatory authorities on SEDAR at www.sedar.com and filed as an exhibit CannTrust’s Form 40-F annual report under the United States Securities Exchange Act of 1934, as amended, with the United States Securities and Exchange Commission on EDGAR at www.sec.gov. The risk factors and other factors noted in the AIF could cause actual events or results to differ materially from those described in any forward-looking information or statements.
The TSX and NYSE do not accept responsibility for the adequacy or accuracy of this release.
Last month, we published an update on Chemesis International Inc. (CSI.CN) (CADMF) which has been laser focused on the US cannabis market and this is an opportunity to put on your radar.
2019 has been a banner year for the US cannabis company and we are favorable on the way the story has evolved so far this year. Through a series of acquisitions, Chemesis has been able to position itself in strategic cannabis markets and we are favorable on this aspect of the story. Over the next year, we expect the company to start to report strong revenue growth and this is a trend that is expected to become more significant in 2020.
Today, we have published an update on Chemesis International and this comes after the company reported a major development. During the last few months, the company has been trending lower with the rest of the cannabis sector and we believe that the market may be missing out on something big.
Acquires Controlling Ownership Interest in a U.S. Multi-State Operator
Chemesis is one of the few cannabis companies to be highly focused on the opportunity in Puerto Rico and we believe that the market does not assign much value to this side of the business. A few weeks ago, Chemesis reported to have enhanced its leverage to this burgeoning cannabis market through the acquisition of a controlling interest in GSRX Industries Inc. (GSRX). Earlier this year, the company made its initial investment in GSRX and we are favorable on the way these assets complement the existing business.
Over the next year, we expect GSRX to play a key role in the success of Chemesis and will monitor how the combined company is able to increase market share in strategic cannabis markets. As a result of the acquisition, GSRX is a subsidiary of Chemesis and its assets (including the 7,291,874 Chemesis common shares that it owns) will be consolidated with Chemesis on a going-forward basis.
One of the reasons we are bullish on the transaction is due to the way it expands the Chemesis operation. Through the acquisition of GSRX, the combined company is a fully vertically integrated, multi-state operator with assets in six states (California, Tennessee, Arizona, Michigan, Texas, and Puerto Rico). GSRX’s asset portfolio includes:
Five operational dispensaries in Puerto Rico, which operate under Green Spirit Rx brand
Five additional pre-qualified dispensaries in Puerto Rico that are in various stages of development and construction.
A fully licensed cannabis distribution center in Point Arena, California that is expected to service over 400 dispensaries in Northern & Central California.
The Green Room, a boutique dispensary located in Point Arena California that has been owned and operated since April 2018.
The Green Room, a 4,500 sq. ft. large scale dispensary located in Palm Springs, California. The dispensary is currently undergoing renovations and expects to be open by the first quarter of 2020.
Retail CBD stores in Texas and Tennessee, with products such as creams, balms, tinctures, pet products, face masks, vape pens, and soft gels.
Another reason we are bullish on the transaction is due to the value that each company brings to the table. Chemesis has extensive manufacturing, extraction, distribution, and processing capabilities, which complement GSRX’s ability to operate cannabis dispensaries. Chemesis intends to leverage its facilities and processing capabilities to manufacture finished goods for GSRX’s operating dispensaries, with the aim of further increasing margins and operational efficiencies.
A Multi-Faceted US Growth Story
Following the completion of the GSRX transaction, Chemesis is better positioned to capitalize on the US cannabis industry. When this development was reported, the company also announced the completion of a $1.4 million non-brokered private placement and we expect the proceeds to be put to work in ways that advance this current business.
Going forward, Chemesis is well positioned to record strong growth and we are especially favorable on the leverage to the California and the Michican markets. These recreational cannabis markets represent significant growth verticals for the overall business and believe that the market underappreciates this aspect of the business.
During the last year, Chemesis has been executing on all cylinders and is led by a management team that has had its finger on the pulse of the industry. From CBD to THC, the company is focused on several of the most attractive verticals of the cannabis industry and we find this to be significant. Chemesis represents a multi-faceted growth story that is trading at a discount when compared to its peers.
Chemesis has come off its recent lows and momentum has been trending higher. This is an opportunity that is flying under the radar and one that we are excited about. To learn more about Chemesis, please reach out to support@technical420.com and we will add you to our distribution list.
Pursuant to an agreement between StoneBridge Partners LLC and Chemesis International we have been hired for a period of 365 days beginning July 15, 2018 and ending July 15, 2019 to publicly disseminate information about (CSI) including on the Website and other media including Facebook and Twitter. We are being paid $5,000 per month for a period of 3 months. We own zero shares of (CSI), which we purchased in the open market. We plan to sell the “ZERO” shares of (CSI) that we hold during the time the Website and/or Facebook and Twitter Information recommends that investors or visitors to the website purchase without further notice to you. We may buy or sell additional shares of (CSI) in the open market at any time, including before, during or after the Website and Information, provide public dissemination of favorable Information. This contract has been renewed for a period of 180 days beginning on August 2, 2019 and ending on February 2, 2020.
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Authored By
Anthony Varrell
Anthony Varrell is Managing Director of StoneBridge Partners LLC. SBP continues to drive market awareness for leading firms in the cannabis industry throughout the U.S. and abroad.
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.
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.
High Tide Inc. (“High Tide” or the “Company”) (CSE:HITI) (OTCQB:HITIF) (Frankfurt:2LY), an Alberta-based, retail-focused cannabis corporation enhanced by the manufacturing and wholesale distribution of smoking accessories and cannabis lifestyle products, today announced that the Canna Cabana retail store located at Unit #3, 5506 50th Avenue in the city of Bonnyville (the “Bonnyville Store”) received its first delivery of cannabis products from Alberta Gaming, Liquor and Cannabis (“AGLC”) and has begun selling recreational cannabis for adult use. Grand opening festivities will be held at the Bonnyville Store on Saturday, August 24. The Company currently has 18 branded Canna Cabana locations selling recreation cannabis products across Canada, inclusive of the Bonnyville Store.
High Tide’s next 5 Canna Cabana locations are all licensed and expected to be operating as retail cannabis stores by early September. With the addition of the first KushBar location that is expected to be licensed in the near term, the Company will soon have 24 retail cannabis locations across Canada, barring any changes to the current rate of licensing by AGLC. “The High Tide team continues to execute well on its growth plans for Canna Cabana and add value to the overall enterprise for shareholders,” said Raj Grover, President and Chief Executive Officer of High Tide. “Established over 110 years ago, Bonnyville is an important place in eastern Alberta, near Cold Lake and the Saskatchewan border, and we are excited to become part of the business community,” added Mr. Grover.
The remaining Canna Cabana and KushBar stores needed to achieve the AGLC’s effective maximum of 37 retail cannabis locations are currently under various stages of development and construction. Outside of Alberta, High Tide currently has a Canna Cabana retail cannabis store in Swift Current, Saskatchewan, along with 3 branded locations in Hamilton, Sudbury and Toronto, Ontario.
About High Tide Inc.
High Tide is an Alberta-based, retail-focused cannabis corporation enhanced by the manufacturing and wholesale distribution of smoking accessories and cannabis lifestyle products. It is a vertically-integrated company in the Canadian cannabis market, with portfolio subsidiaries including RGR Canada Inc., Famous Brandz Inc., Kush West Distribution Inc., Smoker’s Corner Ltd., Grasscity.com, Canna Cabana Inc. and the majority of KushBar Inc. High Tide’s strategy as a parent company is to extend and strengthen its integrated value chain, while providing a complete customer experience and maximizing shareholder value. Key industry investors in High Tide include Aphria Inc. (TSX: APHA) (NYSE: APHA), Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB) and FSD Pharma Inc. (CSE: HUGE) (OTC: FSDDF) (FRA: 0K9).
Representing the core of High Tide’s business, RGR Canada Inc. is a high-quality and innovative designer, manufacturer and distributor of cannabis accessories. Famous Brandz Inc. is a dominant manufacturer of licensed lifestyle accessories, through partnerships with celebrities and entertainment companies including Snoop Dogg and Paramount Pictures. Famous Brandz’ products are sold to wholesalers and retailers around the world. Founded in 2009 and approved by the Canadian Franchise Association, Smoker’s Corner Ltd. is among Canada’s largest counter-culture chains with 14 locations. Kush West Distribution is in the process of becoming a cannabis wholesaler in the province of Saskatchewan. Based in Amsterdam since 2000, Grasscity.com is the world’s preeminent and most searchable online retailer of smoking accessories and cannabis lifestyle products with approximately 5.8 million site visits annually. With the deregulation of recreational cannabis for adult use across Canada, Canna Cabana Inc. and its 21 branded stores (including accessories-only locations), is in the process of becoming a sizeable retail brand with a sophisticated yet playful customer experience, while KushBar Inc. is a retail cannabis concept that will also be focused on valued consumers in Alberta and Ontario.
Certain statements in this news release are forward-looking information or forward-looking statements. Such information and statements, referred to herein as “forward-looking statements” are made as of the date of this news release or as of the date of the effective date of information described in this news release, as applicable. Forward-looking statements relate to future events or future performance and reflect current estimates, predictions, expectations or beliefs regarding future events. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (generally, forward-looking statements can be identified by use of words such as “outlook”, “expects”, “intend”, “forecasts”, “anticipates”, “plans”, “projects”, “estimates”, “envisages, “assumes”, “needs”, “strategy”, “goals”, “objectives”, or variations thereof, or stating that certain actions, events or results “may”, “can”, “could”, “would”, “might”, or “will” be taken, occur or be achieved, or the negative of any of these terms or similar expressions, and other similar terminology) are not statements of historical fact and may be forward-looking statements.
Such forward-looking statements are based on assumptions that may prove to be incorrect, including but not limited to the ability of High Tide to execute on its business plan and that High Tide will receive one or multiple licenses from Alberta Gaming, Liquor & Cannabis, British Columbia’s Liquor Distribution Branch, Liquor, Gaming and Cannabis Authority of Manitoba, Alcohol and Gaming Commission of Ontario or the Saskatchewan Liquor and Gaming Authority permitting it to carry on its Canna Cabana Inc. and KushBar Inc. businesses. High Tide considers these assumptions to be reasonable in the circumstances. However, there can be no assurance that any one or more of the government, industry, market, operational or financial targets as set out herein will be achieved. Inherent in the forward-looking statements are known and unknown risks, uncertainties and other factors that could cause actual results, performance or achievements, or industry results, to differ materially from any results, performance or achievements expressed or implied by such forward-looking statements.
The forward‐looking statements contained herein are current as of the date of this news release. Except as required by law, High Tide does not have any obligation to advise any person if it becomes aware of any inaccuracy in or omission from any forward-looking statement, nor does it intend, or assume any obligation, to update or revise these forward-looking statements to reflect new events or circumstances. Any and all forward-looking statements included in this news release are expressly qualified by this cautionary statement, and except as otherwise indicated, are made as of the date of this news release.
Nick Kuzyk, Chief Strategy Officer & SVP Capital Markets at High Tide Inc.; Tel: (403) 265-4207; Email: Nick@HighTideInc.com; Web: www.HighTideInc.com.Copyright CNW Group 2019
Columbia Care Inc. (NEO: CCHW) (OTCQX: CCHWF) (FSE: 3LP) (“Columbia Care” or the “Company”), one of the largest fully integrated operators in the global medical cannabis industry with licenses across the US and EU, announced today a collaboration with IPS Specials, an experienced compounding pharmaceutical manufacturer, importer and distributor of unlicensed “specials” and licensed medicines in the UK and the rest of the EU, and Grow Biotech, a company bridging the gap between existing cannabis medicines and accepted pharmaceutical standards, to import Columbia Care’s proprietary, broad-spectrum high-cannabidiol (CBD) BeneCeed tablets as a potential investigational medicinal product (IMP) to the United Kingdom (UK) for clinical study. Pending approval by the UK’s Medicines and Healthcare products Regulatory Agency (MHRA), BeneCeed would be examined in a late-stage Phase 2b clinical trial and, to the Company’s knowledge, become the first botanical cannabinoid IMP approved for import from the US and the first product from Columbia Care’s proprietary portfolio of cannabis-based products to be studied in randomized clinical trials.
BeneCeed, Columbia Care’s proprietary, long lasting, broad-spectrum CBD 200mg hard pressed tablets, are currently being manufactured under Good Manufacturing Practice (GMP) conditions in the US. The Company’s collaboration with IPS Specials and Grow Biotech enables it to import both BeneCeed tablets as an IMP as well as corresponding placebo tablets for clinical studies. Before the initiation of clinical studies using an IMP, the MHRA first requires submission and acceptance of an Investigational Medicinal Product Dossier (IMPD). IMPD development for BeneCeed is currently underway.
“For years Columbia Care has been working to set the standard in the cannabis industry by building a portfolio of proprietary, precisely formulated, pharmaceutical-quality cannabis-based medicines that patients can rely on to safely and efficiently address their unmet medical needs. With the initiation of the first placebo-controlled clinical trial examining one of our proprietary cannabis-based medicines in a major underserved behavioral health population, I am proud that we are now raising the bar once more with our funding and independent research partners as we move closer to reaching this momentous milestone for our Company,” said Rosemary Mazanet, M.D., Ph.D., chief scientific officer of Columbia Care. “We are delighted to work with IPS Specials, which has nearly two decades of experience facilitating the import of IMPs, and Grow Biotech, a specialist in navigating challenging regulatory frameworks across the world, to coordinate this effort. Looking forward, we are working to submit an IMPD for BeneCeed as a starting point for product approvals, and in doing so, we hope to advance this first product candidate through the clinic to hopefully become one of the only approved cannabinoid medicinal products. Expanding our ability to reach the global marketplace is a strategic imperative and with the most robust portfolio of products suitable for medical applications, we look forward to leading the cannabinoid revolution outside of the United States.”
Hari Guliani, chief operating officer of Grow Biotech, said, “Here in the UK, the regulatory body National Institute for Care Excellence (NICE) have recently recommended that more clinical trials be carried out on medical cannabis before it is made available on the National Health Service (NHS). This unique collaboration with Columbia Care comes at such a fortuitous time and we hope that these clinical trials will be the first step to fulfilling NICE’s guidance.” Guliani continued, saying, “Columbia Care, with its streamlined operations, high-quality products and vast experience collaborating with some of the most renowned research institutions in the world, is an ideal partner. We look forward to supporting BeneCeed as the first botanical cannabinoid IMP to be imported from the US into the UK with a pathway to MRHA approval and inclusion on the NHS formulary.”
About Columbia Care Inc.
Columbia Care Inc. is one of the largest and most experienced multi-state operators in the medical cannabis industry, with licenses in 15 jurisdictions in the US and the EU. With over 1.2 million sales transactions since its inception, Columbia Care is a patient-centered organization setting the standard for compassion, professionalism, quality, caring and innovation, working in collaboration with some of the most renowned and innovative teaching hospitals and medical centers in the world. The Company is committed to providing the type of education and transparency patients deserve and quality of product that clinicians expect. For more information on Columbia Care, please visit www.col-care.com.
Caution Concerning Forward-Looking Statements
This press release contains certain statements that constitute forward-looking information within the meaning of applicable securities laws (“forward-looking statements”). Statements concerning Columbia Care Inc.’s (“Columbia Care” or the “Company”) objectives, goals, strategies, priorities, intentions, plans, beliefs, expectations and estimates, and the business, operations, financial performance and condition of Columbia Care are forward-looking statements. The words “believe”, “expect”, “anticipate”, “estimate”, “intend”, “may”, “will”, “would”, “could”, “should”, “continue”, “plan”, “goal”, “objective”, and similar expressions and the negative of such expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words.
Certain material factors and assumptions were applied in providing these forward-looking statements. Forward-looking information involves numerous assumptions including the following specific assumptions: the ability of Columbia Care to meet its dispensary targets including the ability to negotiate additional lease arrangements satisfactory to the company, receipt of necessary permits and regulatory approvals, timely completion of planned construction, and the ability to identify and attract qualified staff. Projections may be impacted by macroeconomic factors, in addition to other factors not controllable by the Company. Columbia Care has also made certain general industry assumptions in the preparation of such forward-looking statements. Management believes that the expectations reflected in forward-looking statements are based upon reasonable assumptions; however, Management can give no assurance that actual results will be consistent with these forward-looking statements. Not all factors which affect the forward-looking information are known, and actual results may vary from the projected results in a material respect and may be above or below the forward-looking information presented in a material respect.
Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Columbia Care’ actual results, performance or achievements, or developments in its industry, to differ materially from the anticipated results, performance, achievements or developments expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. When considering these forward-looking statements, readers should keep in mind the risk factors and other cautionary statements in Columbia Care’s final prospectus dated March 21, 2019 (the “Prospectus”) and filed with the applicable Canadian securities regulatory authorities on SEDAR at www.sedar.com. The risk factors and other factors noted in the Prospectus could cause actual events or results to differ materially from those described in any forward-looking information. Forward-looking statements are based on management’s current plans, estimates, projections, beliefs and opinions, and Columbia Care does not undertake any obligation to update forward-looking statements should assumptions related to these plans, estimates, projections, beliefs and opinions change except as required by applicable securities laws. All of the forward-looking statements made in this press release are qualified by these cautionary statements and other cautionary statements or factors contained herein, and there can be no assurance that the actual results or developments will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, Columbia Care.
Next Green Wave Holdings Inc. (CSE: NGW) (OTCQX: NXGWF) (“Next Green Wave”, “NGW” or the “Company”) announces that it has successfully completed its first premium cannabis flower harvest and hit all major milestones to become fully operational this month. All 14 flower rooms have now been stocked with plants, 6 of which are in the flowering stage nearing harvest. This future output will allow the Company to execute on its four revenue segments; nursery, cultivation, extraction and product distribution.
The Company’s first harvest has passed strict California category three compliance testing and received a Certificate of Analysis (COA)* free of any microbial, mycotoxins, pesticides, heavy metals and foreign materials. All the strains tested met premium quality industry standards for sale in California. The lack of licensed premium flower for sale in California opens the door for producers to take advantage of the underserved market.
Highlights:
First premium cannabis harvest is ready for sale
All 14 flowering rooms are stocked
6 rooms are in the flowering stage (approx. 70 days from flowering to harvest)
Multiple rooms will be ready for harvest in September 2019
Several dispensaries and wholesalers are awaiting NGW product
All Company operations at Facility A fully licensed**
The Company’s next yield is expected in the coming weeks and will be processed for sale and distribution through the Company’s SDC Branding House (WEARESDC) and partner brands; Loki the Wolf Dog, Carey Hart, King Louie, Sketchy Tank, Junkyard LA, Toy Machine Skateboard, OSS, Thorn St. Brewing and No Jumper.
“This is a significant turning point for the company. The NGW team has worked steadfast to get the facility built, operating and into revenue, and bring our premium products and brands to market as quickly as possible, kickstarting the beginning of our evolution. We are appreciative of our supportive stakeholders and we look forward to a strong future – one in which we are confident will be rewarding.” -stated Mike Jennings, CEO. __________________________________________________________________________________________________
In addition, the Company is pleased to announce the following changes to its senior leadership team:
Mr. Mike Jennings has been appointed as the interim Chief Executive Officer coincident with his role as Chief Operating Officer. As one of the Company’s founders, Mike is ideally acquainted with all aspects of the operation and is well suited to lead the Company through its next phase of operations and earnings.
Mr. Matt Jewell, the Company’s VP of Finance, has been appointed as Chief Financial Officer. He has spent the last several years assisting companies in emerging industries in the State of California scale from a financial reporting, treasury, Human Resources, legal and operational perspective. Before joining Next Green Wave 14 months ago, Mr. Jewell spent the initial years of his career at KPMG where he gathered his base knowledge of financial reporting, tax, compliance, process and control implementation.
Mr. Ryan Lange, SDC’s Co-Founder, has been appointed as the company’s Chief Marketing Officer. Ryan is an entrepreneur with an extensive background in creative arts, digital media and cannabis. Ryan’s work has been featured on the Today Show, High Times, US Weekly, People Magazine, Dr. Oz, Forbes and GQ among many others. Ryan has collaborated on and launched major branding campaigns for some of the most successful corporations in the country including Nike, Apple Music, Harmless Harvest, Carhartt and Home Depot.
All three team members were instrumental to Next Green Wave’s rapid development over the last year and will continue to lead the company through this exciting next stage of growth.
The following incidental corporate appointments have also been made:
Paul Chow, Glen Harder and Mike Jennings have been appointed to the Company’s Audit Committee.
Monita Farris has been appointed as Corporate Secretary.
About Next Green Wave
NGW is a fully integrated premium cannabis producer with 8 legacy brands and over 45 products through its subsidiary WEARESDC. Based in Coalinga, California the company owns and operates a state-of-the-art cultivation facility and is currently expanding operations on the cannabis zoned property it is situated on. NGW has a seed library of over 120 strains which include multiple award-winning genetics and cultivars and is developing its nursery cloning operations with bio-tech leader Intrexon. The company also has an investment in OMG to provide it with further access to distribution throughout Colombia. To find out more visit us at www.nextgreenwave.comor follow us on Twitter, Instagram, or LinkedIn.
Paul Chow, Founding Director Next Green Wave Holdings Inc.
For more information regarding Next Green Wave, contact: Caroline Klukowski VP Corp. Development Tel: +1 (778) 589-2848 IR@nextgreenwave.com
Next Green Wave Forward Looking Statements
This press release contains forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, are “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward looking statements. Such risks and uncertainties include, among others, the risk factors included in certain regulatory filings, including without limitation dependence on obtaining and maintaining regulatory approvals, including acquiring and renewing state, local or other licenses and any inability to obtain all necessary governmental approvals licenses and permits to complete construction of all proposed facilities in a timely manner; actual operating risks such as the risk of fire, pests and theft; engaging in activities which currently are illegal under US federal law and the uncertainty of existing protection from U.S. federal or other prosecution; regulatory or political change such as changes in applicable laws and regulations, including U.S. state-law legalization, particularly in California, due to inconsistent public opinion, perception of the medical-use and adult-use marijuana industry, bureaucratic delays or inefficiencies or any other reasons; any other factors or developments which may hinder market growth; NGW’s limited operating history and lack of historical profits; reliance on management; undue reliance on social media influencers to drive product sales; NGW’s requirements for additional financing, and the effect of capital market conditions and other factors on capital availability; competition, including from more established or better financed competitors; and the need to secure and maintain corporate alliances and partnerships, including with customers and suppliers. Readers are encouraged to the review the section titled “Risk Factors” in NGW’s prospectus. These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements. Although NGW has attempted to identify important risk factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other risk factors that cause actions, events or results to differ from those anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in forward-looking statements. NGW no obligation to update any forward-looking statement, even if new information becomes available as a result of future events, new information or for any other reason except as required by law.
Vapen MJ Ventures Corporation (CSE: VAPN, OTCQX: VAPNF) a fully integrated agricultural technology, services and property management company in the regulated cannabis industry, today reported financial results for the second quarter ended June 30, 2019.
Financial Results (Comparing the three months ended June 30, 2019 to the three months ended June 30, 2018)
Vapen MJ’s gross revenues increased 43% from US$4.7 million for the quarter ended June 30, 2018 to US$6.7 million for the quarter ended June 30, 2019.
Total Net Income increased 23% for the quarter ended June 30, 2019 to US$1.2 million compared to US$1.0 million for the quarter ended June 30, 2018.
Financial Results (Comparing the six months ended June 30, 2019 to the six months ended June 30, 2018)
Vapen MJ’s gross revenues increased 45% from US$9.1 million for the six months ended June 30, 2018 to US$13.2 millionfor the six months ended June 30, 2019.
Total Net Income increased 40% for the six months ended June 30, 2019 to US$2.9 million compared to US$2.0 millionfor the six months ended June 30, 2018.
Balance Sheet
Cash at June 30, 2019 was US$5.2 million. Working capital as at June 30, 2019 was reported at US$22.6 million, compared to US$14.5 million as at December 31, 2018, a 56% increase.
Operational Highlights During the Second Quarter:
On June 5, 2019, Vapen MJ entered into a partnership agreement with Emerald Pointe Hemp to provide its extraction expertise to a Kentucky partnership for CBD extraction.
On June 24, 2019, Vapen MJ signed a Letter of Intent (LOI) with Pegasus, to establish a partnership for Cannabis THC production and extraction in Las Vegas, Nevada.
Operational Highlights Subsequent to the Second Quarter
On July 12, 2019, Vapen MJ’s shares opened for quotation on the OTCQX® Best Market, under the symbol “VAPNF”.
On August 7, 2019, Vapen MJ announced a new equity partnership where Vapen MJ will design for construction an extraction facility and lend operational technical support for Hawaiian hemp production and formulation with Archipelago™ Ventures, a strategic joint venture with Legacy Ventures and Arcadia Biosciences (NASDAQ: RKDA).
Bob Brilon, president and chief financial officer commented, “Vapen MJ Ventures has experienced a strong first half of the year primarily related to the Arizona operations. We have announced partnerships in the THC and Hemp CBD industries that are moving forward. We are looking forward to closing and announcing additional domestic and foreign extraction partnerships in the coming months to further strengthen the financial results of 2019.”
About Vapen MJ Ventures Corporation
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.
Forward Looking Statements
Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in Vapen MJ’s periodic filings with Canadian securities regulators. When used in this news release, words such as “will, could, plan, estimate, expect, intend, may, potential, believe, should,” and similar expressions, are forward-looking statements.
Forward-looking statements may include, without limitation, statements related to future developments and the business and operations of Vapen MJ.
Although Vapen MJ has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to: dependence on obtaining regulatory approvals; being engaged in activities currently considered illegal under U.S. Federal laws; change in laws; reliance on management; requirements for additional financing; competition; hindered market growth and state adoption due to inconsistent public opinion and perception of the medical-use and adult-use marijuana industry and; regulatory or political change.
There can be no assurance that such information will prove to be accurate or that management’s expectations or estimates of future developments, circumstances or results will materialize. Because of these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events.
Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this release. Vapen MJ disclaims any intention or obligation to update or revise such information, except as required by applicable law, and Vapen MJ does not assume any liability for disclosure relating to any other company mentioned herein.
SOURCE Vapen MJ Ventures Corporation
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Authored By
Anthony Varrell
Anthony Varrell is Managing Director of StoneBridge Partners LLC. SBP continues to drive market awareness for leading firms in the cannabis industry throughout the U.S. and abroad.
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