North Bud Farms Restructures Proposed California Operations with Signing of Offer to Purchase 11-Acre Property in Salinas, California
Momentum Public Relation
Press Release: September 12, 2019
North Bud Farms Inc. (CSE: NBUD) (OTCQB: NOBDF) (“NORTHBUD” or the “Company”) is pleased to announce that Bonfire Brands USA, a wholly owned subsidiary of NORTHBUD, has entered into a land purchase agreement with the Qlora Group to acquire a fully operational Cannabis farm consisting of approximately 300,000 sq. ft. of greenhouse capacity located in Salinas, California. With the near 11-acre cultivation facility comes additional licenses for processing and distribution. The transaction is valued at USD$11 million.
The facility in Salinas, California is currently licensed and operating a 60,000 sq. ft. greenhouse capable of producing 12,000 kg a year and holds the approval to expand up to approximately 300,000 sq. ft. of capacity with estimated yields of 60,000 kg a year. This infrastructure will serve as the primary operation for Bonfire Brands USA within the state of California, which is considered to be the largest cannabis market in the United States.
“Over the past seven months we have observed an evolution in the California market,” stated Justin Braune, President of Bonfire Brands USA. “Many existing legacy operations have been unsuccessful in transitioning their businesses into the adult use market post January 1st, 2019. Supply issues and licensing time frames have caused widespread re positioning of market shares amongst many verticals. Since the creation of Bonfire, we have determined that the acquisition of strategic licensed infrastructure will provide Bonfire with the most efficient operational structure possible. By controlling the complete vertical in one location per state we will have the capacity to increase both our offerings and margins. This will enable us to further improve our own brands as well as we work with complementary partners over a wide spectrum of product segments.”
Transaction Terms
Bonfire Brands USA entered into the land purchase agreement effective September 9, 2019. The purchase price of the land is USD$8M. As part of the 60-day escrow agreement Bonfire Brands USA will make an initial deposit of USD$500,000. The remaining USD$7.5M mortgage will be held by the seller at a fixed interest rate. Over the first 12 months, Bonfire Brands USA will make interest only payments before entering into a traditional principal and interest mortgage. Upon successfully transferring all licenses from Monterey Holdings to Bonfire Brands USA, the Company will issue a convertible debt note in the amount of CAD$2.5M. The debt note will be redeemable in four equal installments to be paid in cash or common shares of NORTHBUD (valued at the 30-day VWAP of the common shares on the CSE) at the discretion of the note holder. If the note holder chooses to redeem in cash, then the installment will be paid in monthly installments over a 3-month period. Any issuance of common shares of NORTHBUD will be subject to receipt of applicable regulatory approvals, including that of the CSE, and standard restrictions on resale.
Upon closing of the real estate transaction, it is expected that Bonfire Brands USA will begin to immediately operate the facilities under an operations agreement until the license transfer is complete.
In addition, Bonfire Brands USA intends to acquire the remaining assets of the Qlora Group related to the brands “California Bud Co.” and “Live For The Day” (LFTD) in exchange for common shares of NORTHBUD. Qlora Group advises that the brands accounted for USD$4.5M in unaudited revenue in 2018. This transaction is expected to take approximately six months to complete for a consideration of USD$500,000.
The Transaction is a significant acquisition but will not result in a “Fundamental Change” pursuant to the policies of the CSE. NORTHBUD will be preparing the necessary corporate and securities filings in order to secure the required approvals for the Transaction.
NORTHBUD has agreed to pay up to 5% in finder fees to arm’s length parties in connection with the closing of the Transaction. The fee is payable in common shares of NORTHBUD.
The closing of the Transaction is conditional on the receipt by the parties of applicable corporate and regulatory approvals including that of the CSE.
U.S. Expansion Update
NORTHBUD is pleased to have solidified its California expansion strategy with this this proposed transaction with Qlora Group and in light of this development and other factors NORTHBUD has agreed to mutually terminate the previously announced letters of intent regarding Eureka Vapor and Tanforan Ventures LLC. Mr. Justin Braune, President of Bonfire Brands USA will lead all NORTHBUD’s U.S. operations.
“Over the past seven months we have been working diligently to complete these transactions, however, during this time the market in California has evolved significantly,” said Ryan Brown, CEO of NORTHBUD. “When the opportunity to purchase licensed real estate in one of the most desired cultivation climates in the state presented itself, we felt that this was the best strategy to maximize revenue as well as protecting shareholder value. The acquisition of this property will provide NORTHBUD with larger revenue potential and significantly less dilution than the previous proposed transactions. We look forward to a potential collaboration with both companies in the future and wish them the best of success.”
The Nevada Botanical Science LOI agreement is still in place and the Company will update shareholders on material progress related to that transaction in due course.
While the proposed transactions involving Nevada Botanical Science and Monterey Holdings are complementary, they are independent and the Company may ultimately proceed to close one, both or none of the proposed transactions, depending on market conditions and regulatory requirements.
Corporate Update
NORTHBUD is pleased to update shareholders that the Evidence of Readiness Package was submitted to Health Canada and upon issuance of a standard cultivation licence from Health Canada, NORTHBUD will be ready to begin Canadian operations.
About North Bud Farms Inc.
North Bud Farms Inc., through its wholly owned subsidiary GrowPros MMP Inc., is pursuing a licence under The Cannabis Act. The Company has built a state-of-the-art purpose-built cannabis production facility located on 135 acres of Agricultural Land in Low, Quebec, Canada. NORTHBUD through its wholly owned U.S. subsidiary, Bonfire Brands USA has entered into agreements to acquire assets in California and Nevada.
For more information visit: www.northbud.com
Neither the Canadian Securities Exchange (the “CSE”) nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking statements
Certain statements and information included in this press release that, to the extent they are not historical fact, constitute forward-looking information or statements (collectively, “forward-looking statements”) within the meaning of applicable securities legislation. Forward-looking statements, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, “may”, “should” and similar expressions to the extent they relate to the Company or its management. This press release contains forward- looking statements including those relating to the entering into of the Definitive Agreement and closing of the Transaction with Qlora. Forward-looking statements are based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect.
Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the risk factors included in the Company’s final long form prospectus dated August 21, 2018, which is available under the Company’s SEDAR profile at www.sedar.com. Accordingly, readers should not place undue reliance on any such forward-looking statements. Further, any forward-looking statement speaks only as of the date on which such statement is made. New factors emerge from time to time, and it is not possible for the Company’s management to predict all of such factors and to assess in advance the impact of each such factor on the Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. The Company does not undertake any obligation to update any forward-looking statements to reflect information, events, results, circumstances or otherwise after the date hereof or to reflect the occurrence of unanticipated events, except as required by law including securities laws. This news release does not constitute an offer to sell or a solicitation of any offer to buy any securities of the Company.
FOR ADDITIONAL INFORMATION, PLEASE CONTACT:
North Bud Farms Inc.
Edward Miller
VP, IR & Communications
Office: (855) 628-3420 ext. 3
investors@northbud.com
Sirona Biochem Releases CEO Letter to Shareholders
Momentum Public Relations
Press Release: July 4th, 2019
Sirona Biochem Corp. (TSX-V: SBM) (FSE: ZSB) (“Sirona“) is pleased to provide a corporate update from the Company’s CEO, Dr. Howard Verrico, regarding its plans both near and long term in the following Q&A format. The questions, for the most part, are derived from inquiries received from investors:
Why are the details limited on the clinical trial update from Wanbang?
The pharmaceutical industry is highly competitive. Information on clinical development programs can be used strategically by other companies. Wanbang’s team has shared all details of their program with us and we are very pleased with the progress and dedication to the program. In good faith, they have agreed to allow us to share the update in a news release. This is not to their advantage and reflects their understanding that our shareholders appreciate the opportunity to be brought up to date. Rest assured, Wanbang is moving efficiently with a comprehensive plan towards full CFDA approval of Wanpagliflozin (TFC-039) to provide a leading treatment option in China, the world’s largest population of diabetic patients1.
How significant is the clinical stage of development?
Many drug development programs never reach clinical trials. In fact, many biotech companies are unsuccessful at progressing any project to the clinical trial stage. Sirona has had two projects reach clinical trials, both TFC-039 and TFC-1067. We believe we will succeed in bringing more projects to this stage utilizing our innovative platform technology. We are confident that full commercialization will be completed on both projects. This is a direct result of a highly predictable biological response to changes made to molecules using our platform technology and expertise.
How is Sirona’s relationship with Wanbang?
Sirona has an excellent working relationship with Wanbang. We have been working hard to grow this relationship. Mr. D. Billings, our consultant in China, has made many trips to meet with the management of Wanbang in recent months which helps tremendously to continually improve our communications. We are now better able to explore further exciting opportunities in working together.
Who is Mr. D. Billings?
Mr. Billings, a Canadian, was introduced by PRC Partners and became Sirona’s consultant in China. He has 17 years of experience representing Canadian companies in China and has established multiple successful partnerships. He has the expertise to bridge cultural and business practice differences and build strong successful partnerships.
Several months ago, Sirona was approached by a company to test TFC-039 as a drug for treating diabetes in cats and dogs. Also, what about the possibility of licensing TFC-039 beyond China for the treatment of diabetes in humans? Is Sirona able to further commercialize TFC-039?
We are actively working on a partnership with a global corporation that will be of great value to Sirona. Again, we are restricted to what we are able to disclose at this time. We can say that the probability of completing a definitive agreement is high. This project involves TFC-039. We will release details as soon as possible.
Will Sirona be able to complete a definitive agreement with Rodan + Fields regarding TFC-1067?
I see no obstacles. The process is proceeding smoothly.
Will Sirona be establishing more partnerships for TFC-1067?
Yes, multiple partnerships are anticipated. As we complete commercialization of TFC-1067 and obtain the necessary regulatory approvals, more companies will want to incorporate TFC-1067 into their product lines. We are actively in communication with several companies at this time. This will be an ongoing process as we are working in a global market consisting of multiple territories and sales channels.
What’s next in new projects?
We still have work to do on our anti-aging, anti-wrinkle, and keloid therapies. Our scientists also dedicate time to explore new opportunities. Currently, there are four more that I find exciting. To protect the IP prior to patent applications, we must keep these projects confidential at this point in time but I will talk about them as soon as appropriate.
Are further equity financings pending?
A strategic financing may occur to position specific investors, but we are not in a rush. Fortunately, the current share price allows much improved terms for Sirona. There is no equity financing planned or available for the current pool of investors. Moreover, many outstanding warrants are in the money, which is another source of growth capital. Nevertheless, we are planning a non-deal roadshow in the fall in North America as well as Europe to attract institutional investors.
Would Sirona consider listing on other senior stock exchanges?
Yes. As our market cap grows and financial balance sheet strengthens, listing Sirona on other international exchanges could become a benefit to shareholders and the growth of the company. We must do this from a position of strength. That time is approaching.
Are you considering a change in share structure?
There is no roll-back planned or anticipated. I value our shareholders and am not in favour of a roll-back that may erode shareholder value. As a major shareholder, I am biased in this regard. Listing on another senior exchange could be an exception where the share structure may require a change. There will be consideration to the possibility of turning Sirona into two companies. Sirona could be divided into a therapeutic and a skin care company to unlock further shareholder value and accelerate overall growth.
Are there future Board changes anticipated?
As we grow as a company our Board may need change in the future. Currently, I am very pleased with the support our current board provides Sirona. Jason Tian’s acceptance to our Board of Directors was a tremendous addition of much needed talent to assist Sirona in new Asian markets. Over time additional board members will be needed and we are continually exploring strategic options.
When will you implement a Shareholders Rights Plan (“Poison Pill”)?
Legal counsel for Sirona is currently working on putting a Shareholders Rights Plan in place. We have made it a high priority to protect our shareholders.
Shareholders appreciate the constant flow of news for the last couple of months, but will this continue?
There are many exciting things happening in the company, so yes, I will make a best effort to maintain frequent communications to keep our investors informed of our progress.
Thanks to the unprecedented support of our shareholders, we have been able to greatly improve our financial balance sheet and can drive growth. We will also be able to grow through partnerships and collaborations. 2019 is shaping up to be a pivotal year for Sirona. We envision 2020 and beyond to be even better.
About Sirona Biochem Corp.
Sirona Biochem is a cosmetic ingredient and drug discovery company with a proprietary platform technology. Sirona specializes in stabilizing carbohydrate molecules with the goal of improving efficacy and safety. New compounds are patented for maximum revenue potential.
Sirona’s compounds are licensed to leading companies around the world in return for licensing fees, milestone fees and ongoing royalty payments. Sirona’s laboratory, TFChem, is located in France and is the recipient of multiple French national scientific awards and European Union and French government grants. For more information, please visit www.sironabiochem.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Sirona Biochem cautions you that statements included in this press release that are not a description of historical facts may be forward-looking statements. Forward-looking statements are only predictions based upon current expectations and involve known and unknown risks and uncertainties. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of release of the relevant information, unless explicitly stated otherwise. Actual results, performance or achievement could differ materially from those expressed in, or implied by, Sirona Biochem’s forward-looking statements due to the risks and uncertainties inherent in Sirona Biochem’s business including, without limitation, statements about: the progress and timing of its clinical trials; difficulties or delays in development, testing, obtaining regulatory approval, producing and marketing its products; unexpected adverse side effects or inadequate therapeutic efficacy of its products that could delay or prevent product development or commercialization; the scope and validity of patent protection for its products; competition from other pharmaceutical or biotechnology companies; and its ability to obtain additional financing to support its operations. Sirona Biochem does not assume any obligation to update any forward-looking statements except as required by law.
1 IDF Diabetes Atlas Eighth Edition 2017 https://www.sironabiochem.com/wp-content/uploads/2019/06/SBM-FS-QTR-ENDED-Q2-2019.pdf
SOURCE Sirona Biochem Corp.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2019/04/c8604.html
Contact:
regarding this press release, please contact: Jonathan Williams, Managing Director, Momentum PR, Phone: 1.450.332.6939, Email: jwilliams@momentumpr.com
- Published in Business, Life Sciences, News Home, Sirona Biochem
North Bud Farms Signs Binding Letter of Intent to Acquire Nevada Botanical Science
Momentum Public Relations
Press Release: June 25
North Bud Farms Inc.(CSE: NBUD) (OTCQB: NOBDF) (“NORTHBUD” or the “Company”) is pleased to announce that it has entered into a binding letter of intent (“LOI”), effective June 23, 2019, to acquire all of the issued and outstanding securities of Nevada Botanical Science, Inc. (“NBS”) in a transaction valued at USD$7 million.
Nevada Botanical Science is located in Reno, Nevada. They hold medical and adult use licenses for cultivation extraction and distribution. NBS’ operation is located on 3.2 acres of land within the Reno green zone industrial park. NBS currently operates a 5,000 sq. ft. indoor cultivation facility and have been approved for expansion of up to 100,000 sq. ft. The property also houses an extraction facility and commercial kitchen capable of manufacturing beverages and edibles. Operated by healthcare professionals, NBS has been primarily focused on the cultivation and manufacturing of medical cannabis products. NBS currently manufactures and sells award winning* (Jack Herer Cup 2018) topical pain creams, balms and lotions under the Trichomic brand.
“We are very excited to have the opportunity to enter the Nevada market,” said Ryan Brown, CEO of NORTHBUD. “The Nevada market is considered one of the best markets in America with recreational sales of USD$580 million in the first full year of legalization* (2017 Nevada Dept. of Taxation). Assuming the successful closing of the proposed transaction with NBS and our previously announced transactions with Eureka Vapor and Tanforan Ventures, we are building an excellent platform in the 3 largest markets in the United States on which to build our brand focused strategy.”
“The NBS team is pleased to be entering into this agreement with NORTHBUD, as we believe that NORTHBUD and its brands will be a perfect addition to our existing medical business and allow us to capitalize on the Nevada recreational market,” said Robert Dalrymple, MD., CEO of Nevada Botanical Science.
Transaction Terms
The proposed transaction (the “Transaction”) is currently structured as a share purchase agreement whereby in exchange for the purchase of all of the securities of NBS, NORTHBUD will pay USD$6M in cash and issue USD$1M in common shares (“Common Shares”) to the shareholders of Nevada Botanical Science (the “NBS Shareholders”) with the price per Common Share to be determined based on a formula of the higher of (a) CAD$0.35 per Common Share and (b) the 30-day volume weighted average price (“VWAP”) calculated on the closing date (the “Closing Date”) of a definitive agreement in respect of the Transaction (the “Definitive Agreement”). In addition, NORTHBUD has agreed to loan up to USD$500,000 under a promissory note to NBS while the companies work towards a definitive agreement. Specific terms of the promissory note are not yet determined, however any amounts loaned to NBS under the promissory note will be fully refundable and may be converted into equity in NBS, at the option of NORTHBUD, in the event that the transaction is not completed. NORTHBUD and NBS Shareholders expect to enter into the Definitive Agreement on or before October 1, 2019.
The Transaction is a significant acquisition but will not result in a “Fundamental Change” pursuant to the policies of the Canadian Securities Exchange (“CSE”). Financial information on NBS will be disclosed following receipt of audited financial statements in connection with the Company’s due diligence. NORTHBUD will be preparing the necessary corporate and securities filings in order to secure the required approvals for the Transaction.
NORTHBUD has agreed to pay up USD$280,000 in broker/finder fees to arm’s length parties in connection with the closing of the Transaction.
The closing of the Transaction is conditional on the receipt by the parties of applicable corporate and regulatory approvals including that of the CSE.
While the proposed transactions involving NBS, Tanforan Ventures and Eureka Vapor are complementary, they are independent and the Company may ultimately proceed to close one, two, all or none of the proposed transactions, depending on market conditions and regulatory requirements.
About Nevada Botanical Science, Inc.
Founded by a group of northern Nevada physicians and healthcare professionals who believe in the promise of medical cannabis, Nevada Botanical Science has developed a world class cannabis production, research and development facility in Reno’s Washoe County. Its work and commitment are fully in compliance with the Hippocratic Oath as well as Nevada statute. Nevada Botanical Science is dedicated to ensuring the highest measure of safety, governance and stewardship for its patients, employees and the community it serves.
For more information visit: www.nevadabotanicalscience.com
About North Bud Farms Inc.
North Bud Farms Inc., through its wholly owned subsidiary GrowPros MMP Inc., is pursuing a licence under The Cannabis Act. The Company is constructing a state-of-the-art purpose-built cannabis production facility located on 95 acres of Agricultural Land in Low, Quebec. North Bud Farms Inc. has entered into agreements to acquire assets in California, Colorado and Nevada.
For more information visit: www.northbud.com
Neither the Canadian Securities Exchange (the “CSE”) nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking statements
Certain statements included in this press release constitute forward-looking information or statements (collectively, “forward-looking statements”), including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, “may”, “should” and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This press release contains forward- looking statements including those relating to the entering into of the Definitive Agreement, closing of the Transaction and associated approvals, Nevada Botanical Science’s ability to achieve milestones under the Definitive Agreement and associated Common Share issuances. These forward-looking statements are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties and other factors. Such risks and uncertainties include, among others, the risk factors included in North Bud Farms Inc.’s final long form prospectus dated August 21, 2018 which is available under the issuer’s SEDAR profile at www.sedar.com.
FOR ADDITIONAL INFORMATION, PLEASE CONTACT:
North Bud Farms Inc.
Edward Miller
VP, IR & Communications
Office: (855) 628-3420 ext. 3
investors@northbud.com
North Bud Capital Acquires Shares and Warrants of North Bud Farms Inc.
Momentum Public Relations
Press Release: June 20, 2019
This news release is issued by North Bud Capital Holdings Ltd. (“North Bud Capital”) pursuant to the early warning requirements of National Instrument 62-104 and National Instrument 62-103 with respect to the acquisition by North Bud Capital of units of North Bud Farms Inc. (the “Issuer”).
On June 19, 2019, in connection with the closing of a non-brokered private placement of the Issuer, North Bud Capital purchased 3,333,333 units in the share capital of the Reporting Issuer, at a price of $0.30 per unit, for gross proceeds to the Issuer of $1,000,000 (the “Private Placement Transaction”). Each unit consists of one common share and one common share purchase warrant, with each warrant entitling the holder thereof to purchase one additional common share in the share capital of the Issuer, at an exercise price of $0.40, and expiring on June 19, 2021.
Prior to the Private Placement Transaction, North Bud Capital owned and controlled 7,084,500 common shares in the share capital of the Issuer, representing 12.75% of the issued and outstanding common shares of the Issuer.
As a result of the closing of Private Placement Transaction, North Bud Capital holds a total of 10,417,833 common shares of the Issuer, representing 17.49% of the issued and outstanding common shares of the Issuer, and assuming the exercise of the 3,333,333 warrants comprised in the units, will hold a total of 13,751,166 common shares, representing a total of 21.86% of the issued and outstanding common shares of the Issuer on a partially diluted basis.
Depending on economic or market conditions, or matters relating to the Issuer, North Bud Capital may in the future choose to either acquire additional securities of the Issuer or dispose of securities of the Issuer.
For further information, and to obtain a copy of the early warning report filed under applicable securities legislation in connection with the transactions described herein, please go to the Issuer’s profile on the SEDAR website at www.sedar.com, or contact Mr. Ryan Brown, CEO of North Bud Capital at 855-359-2475.
North Bud Capital Holdings Ltd.
38 Ch. Scott
Chelsea, Quebec
J9B 1R5
Sirona Biochem Signs Term Sheet for TFC-1067 with Skincare Industry Leader Rodan + Fields
Momentum Public Relations
Press Release: June 19, 2019
Sirona Biochem Corp. (TSX-V: SBM) (FSE: ZSB) (OTC: SRBCF) (“Sirona“) is pleased to announce that a non-binding term sheet has been signed with Rodan + Fields, LLC (Rodan + Fields) for the commercial sales of novel ingredient TFC-1067. This term sheet covers all material terms and conditions of a definitive agreement with San Francisco-based, industry leading, Rodan + Fields. The definitive agreement is expected to be signed in Q3/2019.
The term sheet stipulates Sirona will become a manufacturer and supplier of TFC-1067 for use by Rodan + Fields on a non-exclusive basis in its current markets (USA, Canada and Australia) as well as future regions. Sirona has initiated preparations for manufacturing TFC-1067 to be in place near term for anticipated product launches. In addition to revenue from the sale of TFC-1067, a fee will be paid by Rodan + Fields on signing of the definitive agreement followed by milestone fees paid for each product launched by Rodan + Fields that incorporates Sirona’s innovative skin lightening agent TFC-1067.
The term sheet incorporates establishing regular formal meetings between Sirona’s scientists at TFChem and the scientists at the research department of Rodan + Fields. Future commercial opportunities based on the platform technology of Sirona Biochem will be explored. This term sheet is the result of extensive due diligence by Rodan + Fields spanning more than one year. This agreement is fitting for both Rodan + Fields and Sirona because of a mutual desire to deliver premium consumer products that are safe and effective.
Founded by Stanford-trained dermatologists, Dr. Katie Rodan and Dr. Kathy Fields, Rodan + Fields was launched with the mission of giving consumers the best skin of their lives and bring dermatology-inspired skincare to everyone. With clinic-quality skincare Regimens and a powerful community of Independent Consultants, Rodan + Fields is the leading skincare brand in the United States and one of the fastest growing industry disruptors in beauty.
Rodan + Fields has been ranked the number one skincare brand in the U.S.1 and North America2 in 2018 by Euromonitor International Ltd. (“Euromonitor”), which publishes the world’s most comprehensive market research on the skincare industry. Rodan + Fields has received several other accolades from Euromonitor, including the number one premium acne brand in the US and Canada3and number one premium body care brand in North America in 20184.
“After many years of developing TFC-1067 with the support of the French government and European Union in the Cosmetic Valley, France, we are excited to partner with skincare industry leader Rodan + Fields”, reports Dr. Howard Verrico CEO of Sirona Biochem. “This marks an important milestone for Sirona Biochem. We highly value the successful due diligence of Rodan + Fields as further validation of our technology platform, in particular TFC-1067.”
“We are committed to providing our Consultant community and their consumers with products that feature cutting-edge technology that provide visible results. After an extensive search, we are pleased to partner with Sirona to leverage their new brightening agent in our products. With clinically proven effectiveness and an excellent safety profile, TFC-1067 will enable our products to improve the appearance of skin dullness, discoloration and uneven skin tone for a younger looking complexion. We look forward to leveraging this excellent new ingredient in future product lines and working together to bring more of our lifechanging skincare products to the market,” said Simon Craw, Senior Director R&D Business Development at Rodan + Fields.
1Source Euromonitor International Limited; Beauty and Personal Care 2019 Edition, retail value RSP terms; all channels, Skincare includes Sets & Kits. |
2Source Euromonitor International Limited; Beauty and Personal Care 2019 Edition, retail value RSP terms; all channels, Skin Care includes Sets and Kits; North America defined as Canada and the United States. |
3Source Euromonitor International Limited; Beauty and Personal Care 2019 Edition, retail value RSP terms; all channels; Premium Acne Treatments including Acne Treatments sold as part of Sets and Kits. |
4Source Euromonitor International Limited; Beauty and Personal Care 2019 Edition, retail value RSP terms; all channels, Premium Body Care includes Sets and Kits. |
About Rodan + Fields
Founded by Stanford-trained dermatologists Dr. Katie Rodan and Dr. Kathy Fields, Rodan + Fields was launched in 2002 with the mission of giving consumers the best skin of their lives. The brand is a result of the Doctors’ belief that healthy skin empowers people to feel confident. Born in the digital era and designed to directly reach consumers where they live and shop via mobile and social networks, Rodan + Fields is disrupting the industry with its regimen-based skincare and powerful Independent Consultant community.
For more information, please visit www.rodanandfields.com.
About Sirona Biochem Corp.
Sirona Biochem is a cosmetic ingredient and drug discovery company with a proprietary platform technology. Sirona specializes in stabilizing carbohydrate molecules with the goal of improving efficacy and safety. New compounds are patented for maximum revenue potential.
Sirona’s compounds are licensed to leading companies around the world in return for licensing fees, milestone fees and ongoing royalty payments. Sirona’s laboratory, TFChem, is located in France and is the recipient of multiple French national scientific awards and European Union and French government grants. For more information, please visit www.sironabiochem.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Sirona Biochem cautions you that statements included in this press release that are not a description of historical facts may be forward-looking statements. Forward-looking statements are only predictions based upon current expectations and involve known and unknown risks and uncertainties. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of release of the relevant information, unless explicitly stated otherwise. Actual results, performance or achievement could differ materially from those expressed in, or implied by, Sirona Biochem’s forward-looking statements due to the risks and uncertainties inherent in Sirona Biochem’s business including, without limitation, statements about: the progress and timing of its clinical trials; difficulties or delays in development, testing, obtaining regulatory approval, producing and marketing its products; unexpected adverse side effects or inadequate therapeutic efficacy of its products that could delay or prevent product development or commercialization; the scope and validity of patent protection for its products; competition from other pharmaceutical or biotechnology companies; and its ability to obtain additional financing to support its operations. Sirona Biochem does not assume any obligation to update any forward-looking statements except as required by law.
SOURCE Sirona Biochem Corp.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/June2019/19/c8969.html
Contact:
regarding this press release, please contact: Investor Enquiries: Jonathan Williams, Managing Director, Momentum PR, Phone: 1.450.332.6939, Email: jwilliams@momentumpr.com; Corporate Enquiries: Dr. Howard Verrico, CEO, Chairman of the Board, Sirona Biochem Corp., Phone: 1.604.641.4466, Email: info@sironabiochem.com; Rodan+ Fields: Corporate Communications + PR, Email: corporatepr@rodanandfields.com
- Published in Business, Life Sciences, News Home, Sirona Biochem
North Bud Farms Signs Binding Letter of Intent to Acquire California Licensed Extraction Company Tanforan Ventures
Momentum Public Relations
Press Release: June 18, 2019
North Bud Farms Inc.(CSE: NBUD) (OTCQB: NOBDF) (“NORTHBUD” or the “Company”) is pleased to announce that effective June 15, 2019 it has entered into a binding letter of intent (“LOI”) to acquire all of the issued and outstanding securities of Tanforan Ventures LLC (“Tanforan”), a California-based licensed operator holding Category 7 extraction and distribution licenses, in a transaction valued at CAD$8.6 million.
Tanforan holds manufacturing and distribution licenses in the state of California and is in the final stages of completing its new Category 7 licensed extraction facility in Woodland, California.
“We are very excited to have the opportunity to secure additional infrastructure and talent as we continue to execute on our U.S. expansion plans,” said Ryan Brown, CEO of North Bud Farms. “This strategically located extraction facility will facilitate the transportation of crude extract derived from bio-mass grown at contract farms located in Northern California. Assuming the successful closing of the proposed transaction with Tanforan and our previously announced transaction with Eureka Vapor, we intend to further process the crude extract into a finished consumer product at Eureka Vapor’s manufacturing and distribution facility located in Los Angeles to service the Southern California market.”
Transaction Terms
The proposed transaction (the “Transaction”) is currently structured as a share purchase agreement whereby in exchange for the purchase of all of the securities of Tanforan, NORTHBUD will issue CAD$5 million in common shares (“Common Shares”) to the shareholders of Tanforan (the “Tanforan Shareholders”) with the price per Common Share to be determined based on a formula of the higher of (a) CAD$0.35 per Common Share and (b) the 30-day volume weighted average price (“VWAP”) calculated on the closing date (the “Closing Date”) of a definitive agreement in respect of the Transaction (the “Definitive Agreement”). NORTHBUD and Tanforan expect to enter into the Definitive Agreement by October 1, 2019.
In addition, Tanforan shareholders will be entitled to receive up to an additional CAD$3.6 million in Common Shares of NORTHBUD, on a pro rata basis, upon Tanforan achieving revenue of USD$11,700,000 from extraction contracts over a 12 month period following the closing of the Transaction. All of the foregoing revenue milestone Common Shares will have a deemed value equal to the consideration shares and will be subject to the same escrow period.
10% of the Common Shares to be issued pursuant to the Definitive Agreement will be issued to the Tanforan shareholders on the Closing Date, with the remainder of the Common Shares to be issued in equal tranches after six, twelve, eighteen, and twenty-four months from the Closing Date (the “Escrow Period”).
The Transaction is a significant acquisition, but will not result in a “Fundamental Change” pursuant to the policies of the CSE. NORTHBUD will be preparing the necessary corporate and securities filings in order to secure the required approvals for the Transaction.
NORTHBUD has agreed to pay $150,000 in broker/finder fees to arm’s length parties in connection with the closing of the Transaction.
The closing of the Transaction is conditional on Tanforan receiving its final Certificate of Occupancy from the city of Woodland, the receipt of all applicable permits as well as the receipt by the parties of applicable corporate and regulatory approvals including that of the CSE.
“The opportunity to acquire a state-of-the-art facility with an experienced operations team is an exciting prospect for NORTHBUD,” says Ryan Brown, CEO of NORTHBUD. “We believe that the combination of Tanforan’s facility and services combined with Eureka Vapor’s products and distribution will give NORTHBUD an excellent platform to capitalize on the California recreational cannabis market, considered to be the largest in North America.”
“The Tanforan team is excited to join forces with NORTHBUD and Eureka to capitalize on the largest consumer market in North America,” said Shannan Day, CEO of Tanforan Ventures. “Tanforan has extensive exclusive agreements with licensed Cannabis farms in Northern California and we look forward to working with NORTHBUD and Eureka to create high quality products for distribution in Southern California.”
While the proposed transactions involving Tanforan and Eureka Vapor are complementary, they are independent and the Company may ultimately proceed to close one, both or neither of the proposed transactions, depending on market conditions and regulatory requirements.
Update on Acquisition of Eureka Vapor
As previously announced in the Company’s press release dated May 15, 2019, NORTHBUD and Eureka Vapor LLC (“Eureka”) continue to work towards completing a definitive agreement whereby NORTHBUD is to acquire all of the issued and outstanding shares of Eureka and all of its subsidiaries. Based on projected timelines for the completion of the audit of Eureka’s financial statements, the companies expect to sign a definitive agreement in the third quarter of the 2019 calendar year.
Update on Financing
The Company expects to close a first tranche of its non-brokered private placement later this week. As previously announced on May 15, 2019, the private placement is for up to 13,333,333 units at a price of $0.30 per unit, for gross proceeds of up to $4 million. Each unit will be comprised of one common share of the Company and one common share purchase warrant. Each warrant will entitle the holder to acquire an additional share at a price of $0.40 for a period of 24 months from the closing date.
About Tanforan Ventures LLC.
Historically Tanforan’s business operated under the proposition 215 regulatory structure. As of January 2019, Tanforan successfully applied for and received a volatile extraction license under the California adult use regulations laws. Tanforan specializes in white label extraction services.
About North Bud Farms Inc.
North Bud Farms Inc., through its wholly owned subsidiary GrowPros MMP Inc., is pursuing a licence under The Cannabis Act. The Company is constructing a state-of-the-art purpose-built cannabis production facility located on 95 acres of Agricultural Land in Low, Quebec. North Bud Farms Inc. will be focused on Pharmaceutical and Food Grade cannabinoid production in preparation for the legalization of edibles and ingestible products scheduled for October 2019.
About Eureka Vapor LLC
Headquartered in Los Angeles, California, EUREKA Vapor was founded in 2011 and holds licenses in both California and Colorado. EUREKA Vapor’s multi state operation manufactures and sells a premium line of vaporizer cartridges, disposable vapor pens and proprietary vaporizer batteries designed to work with their highly sought-after CO2 extracted oil. Using their refined extraction processes and techniques developed over almost a decade of extracting, EUREKA Vapor is committed to providing the cleanest and safest natural oil cartridges in the industry. Long referred to as one of the leaders in the industry, EUREKA has one of the most loyal customer bases in the category which reflects their commitment to honesty and transparency above all else. EUREKA continually looks for innovative ways to improve and refine their product offerings in order to deliver the best, most consistent vaping experience in the industry.
For more information visit: www.northbud.com
Neither the Canadian Securities Exchange (the “CSE”) nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking statements
Certain statements included in this press release constitute forward-looking information or statements (collectively, “forward-looking statements”), including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, “may”, “should” and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This press release contains forward- looking statements including those relating to the entering into of the Definitive Agreement, closing of the Transaction and associated approvals, Tanforan’s ability to achieve milestones under the Definitive Agreement and associated Common Share issuances. These forward-looking statements are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties and other factors. Such risks and uncertainties include, among others, the risk factors included in North Bud Farms Inc.’s final long form prospectus dated August 21, 2018 which is available under the issuer’s SEDAR profile at www.sedar.com.
FOR ADDITIONAL INFORMATION, PLEASE CONTACT:
North Bud Farms Inc.
Edward Miller
VP, IR & Communications
Office: (855) 628-3420 ext. 3
investors@northbud.com
Sirona Biochem Appoints Chinese Lawyer Jason Tian to its Board of Directors
Momentum Public Relations
Press Release: June 12, 2019
Sirona Biochem Corp. (TSX-V: SBM) (FSE: ZSB) (the “Company“) announces that Mr. Jason Tian will be joining its Board of Directors. Jason Tian is a Senior Partner at Landing Law offices based in Shanghai, China. Jason has been working with Sirona since 2018 representing the Company at strategic partnering meetings in China and France.
Jason Tian has been providing legal services to international clients since 2007 and has worked in top firms in China such as Beijing Zhonglun, Beijing Zhongyin, Beijing Dacheng and is now a Senior Partner of Shanghai Landing Law Offices. He also worked as senior legal translator in UK-based firm, Clifford Chance LLP, before starting his legal career.
Shanghai Landing Law Offices is a full-service law firm with headquarters in Shanghai, China. Lawyers at Landing provide full-service to clients in industries such as healthcare and pharmaceuticals as well as consumer retail in China. Landing has several domestic branches and overseas branches in the United States, India, Singapore, Indonesia, Bangladesh, Philippines and Cambodia.
“Sirona’s management team has developed an excellent working relationship with Jason. His legal knowledge and extensive network in the Chinese business community are proving to be tremendous assets to Sirona”, reports Sirona Biochem’s CEO Dr Howard Verrico.
The company also announces Casper Bych has resigned from Sirona’s Board of Directors.
About Sirona Biochem Corp.
Sirona Biochem is a cosmetic ingredient and drug discovery company with a proprietary platform technology. Sirona specializes in stabilizing carbohydrate molecules with the goal of improving efficacy and safety. New compounds are patented for maximum revenue potential.
Sirona’s compounds are licensed to leading companies around the world in return for licensing fees, milestone fees and ongoing royalty payments. Sirona’s laboratory, TFChem, is in France and is the recipient of multiple French national scientific awards and European Union and French government grants. For more information, please visit www.sironabiochem.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
———————————————
Sirona Biochem cautions you that statements included in this press release that are not a description of historical facts may be forward-looking statements. Forward-looking statements are only predictions based upon current expectations and involve known and unknown risks and uncertainties. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of release of the relevant information, unless explicitly stated otherwise. Actual results, performance or achievement could differ materially from those expressed in, or implied by, Sirona Biochem’s forward-looking statements due to the risks and uncertainties inherent in Sirona Biochem’s business including, without limitation, statements about: the progress and timing of its clinical trials; difficulties or delays in development, testing, obtaining regulatory approval, producing and marketing its products; unexpected adverse side effects or inadequate therapeutic efficacy of its products that could delay or prevent product development or commercialization; the scope and validity of patent protection for its products; competition from other pharmaceutical or biotechnology companies; and its ability to obtain additional financing to support its operations. Sirona Biochem does not assume any obligation to update any forward-looking statements except as required by law. The appointment of Jason Tian to the BOD is subject to exchange approval.
SOURCE Sirona Biochem Corp.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/June2019/12/c2009.html
Contact:
regarding this press release, please contact: Jonathan Williams, Managing Director, Momentum PR, Phone: 1.450.332.6939, Email: jwilliams@momentumpr.com
- Published in Business, Life Sciences, News Home, Sirona Biochem, Technology
Mondias announces the results of its annual meeting
Momentum Public Relations
Press Release: June 11, 2019
Mondias Naturals Inc. (“Mondias” or the “Company”) (TSXV: NHP) is pleased to announce the results of its annual general and special meeting of shareholders (the “Meeting”), which was held yesterday in Montreal, Quebec. All of the nominees listed in the Company’s management information circular dated May 6, 2019, were re-elected as directors.
“This has been a very good first six months for Mondias as a newly listed public company,” said Jean-Philippe Gravel, President and Chief Executive Officer of Mondias. “Our proprietary CELEXT07 bio-defense stimulant plant extract is attracting increasing interest from large players in the agricultural, horticulture and cannabis industries. Our consumer health products sector is also progressing as expected, as we are preparing to launch a new line of sleeping aids products for the second part of 2019. These initiatives, along with others planned for later in the year, will enable Mondias to generate growth and new opportunities in 2019.”
“The Board is pleased with the results obtained to date and is strongly committed in helping Mondias to pursue its strategic growth plan. Our Board has the market expertise and skill set needed to guide the Company in creating value for our shareholders,” added Mr. André Rancourt, Executive Chairman of Mondias.
A total of 43 shareholders were represented in person or by proxy at the Meeting, holding 42,663,175 shares, or 67.57% of Mondias’ issued and outstanding shares.
Detailed results of the vote for the election of directors are set out below:
Nominee |
Votes |
% |
Votes |
% |
André Rancourt |
42,648,175 |
99.96% |
15,000 |
00.04% |
Frank Palantoni |
42,648,175 |
99.96% |
15,000 |
00.04% |
Bertrand Venne |
42,648,175 |
99.96% |
15,000 |
00.04% |
Michel Timperio |
42,648,175 |
99.96% |
15,000 |
00.04% |
Louis Doyle |
42,648,175 |
99.96% |
15,000 |
00.04% |
All other matters presented for shareholder approval at the Meeting were approved, as follows:
- Appointment of UHY McGovern Hurley LLP, Chartered Accountants, as auditors of the Company for the coming year and authorization of the directors to establish their remuneration;
- Amendment and ratification of the Company’s existing stock option plan; and
- Granting of stock options to purchase up to an aggregate of 3,200,000 common shares under the amended rolling option plan.
About Mondias Natural Products Inc.
Mondias specializes in the commercialization and development of evidence-based botanical products for the health-care, bio-agriculture and organic markets. The Company sells both oral and topical botanical agents to help manage unmet medical needs through its Holizen Laboratories division. Mondias is also developing botanical-based specialty fertilizers for use on household plants, lawns and golf courses and in urban gardens, nurseries and greenhouses, in collaboration with McGill’s Faculty of Agricultural and Environmental Sciences.
For more information, visit: www.mondias.ca
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
- Published in Business, Life Sciences, Mondias Natural, News Home, Technology
Mondias CELEXT07 latest test results confirm effective suppression of grey mould on hops
Momentum Public Relations
Press Release: May 16, 2019
Mondias Naturals Inc. (“Mondias” or the “Company”) (TSXV: NHP) is pleased to announce the results from research on the use of its proprietary CELEXT07 bio-defense stimulant plant extract on hops plants, conducted in collaboration with McGill University.
Global hops production is expected to grow by 3.3% to 122,767 metric tons in 2019 (Source: IHGC – Economic Commission Summary Reports, April 26, 2019). Hops production in the United States alone reached a record high of US$618 million in 2017, up 24% from US$498 million in 2016 (Source: U.S. Department of Agriculture). The global hops market is driven by increasing demand for hops in alcoholic beverages, medicinal drugs and cosmetic formulations. Over the next five years, increased demand for various flavours in beer such as pilsner or lager and the rise in popularity for hop-based craft beer are major factors that will significantly fuel the growth of the global hops market (Source: Persistence Market Research).
The objective of the current series of tests was to measure CELEXT07’s efficacy in suppressing and preventing diseases on hops plants. Hops is a genus belonging to the same taxonomic family as cannabis. Mondias’ latest experiments on cannabis and hops served as proof-of-concept of the efficacy of the Company’s botanicals in plant protection and increasing plant survival by eliciting induced resistance.
Summary of the test results:
- Foliar applications of CELEXT07 bio-defense stimulant extract were very effective in suppressing grey mould (caused by Botrytis cinerea) infections on hops, with decreases of 86% in disease severity and 67% in disease incidence.
- A scheduled dose split over three days for the soil drench application of CELEXT07 also proved effective for the prevention/suppression of grey mould on hops, with decreases of 31% in disease severity and up to 50% in disease incidence.
- Foliar and soil drench application of CELEXT07 did not have any phytotoxic effect on hops.
“These latest results continue to confirm that CELEXT07 is very effective in suppressing and preventing a wide range of fungal and bacterial pathogens, and has applications in more than one large market,” said Jean-Philippe Gravel, Chief Executive Officer of Mondias. “As mentioned in our last release, Mondias has secured the production capacity needed to meet demand from potential clients. CELEXT07 is ready to market and we are presently looking at selling our product through various sales channels and markets, including the agriculture, horticulture, cannabis and hops markets.”
With post-harvest losses of one-third of the food produced worldwide for human consumption (Gastavsson et al., 2011) and annual economic losses of $10 billion to $100 billion worldwide due to grey mould and powdery mildew (L. Hua et al., 2018), the market potential for CELEXT07 is considerable.
About Mondias Natural Products Inc.
Mondias specializes in the commercialization and development of evidence-based botanical products for the health care, bio-agriculture and organic markets. The company sells both oral and topical botanical agents to help manage unmet medical needs through its Holizen Laboratories division. Mondias is also developing botanical-based specialty fertilizers for use on household plants, lawns and golf courses and in urban gardens, nurseries and greenhouses, in collaboration with McGill’s Faculty of Agricultural and Environmental Sciences.
For more information, visit: www.mondias.ca
- Published in Business, Life Sciences, Mondias Natural, News Home, Technology
North Bud Farms Arranges Private Placement Financing and Provides Corporate UpdateMomentum Public Relations Press Release: May 15, 2019
Momentum Public Relations
Press Release: May 15, 2019
North Bud Farms Inc. (CSE: NBUD) (OTCQB: NOBDF) (“NORTHBUD” or the “Company”) announces a non-brokered private placement of up to 13,333,333 units, at a price of $0.30 per unit, for gross proceeds of up to $4 million. Each unit will be comprised of one common share of the Company and one common share purchase warrant. Each warrant will entitle the holder to acquire an additional share at a price of $0.40 for a period of 24 months from the date of closing of the offering. Insiders of the Company have demonstrated their commitment to the continued success of the Company by committing to a lead investment of $1 million in the proposed offering. The Company plans to use the net proceeds of the offering to hire additional staff for its Canadian operations, pursue M&A opportunities in the United States, including new state license applications, and for general working capital purposes.
“These funds will be essential to fund ongoing acquisition efforts in the United States and prepare our Canadian production facility for operations,” said Ryan Brown, CEO of North Bud Farms.
The offering is expected to be completed on or before May 31, 2019, subject to the receipt of all necessary regulatory approvals. All securities issued pursuant to the offering will be subject to a four-month hold period in accordance with applicable Canadian securities laws.
As mentioned, certain directors, officers and other insiders have committed to participate in the offering. Accordingly, any such participation would be considered a “related party transaction” under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company is relying on the exemptions from the formal valuation requirements and majority of the minority shareholder approval requirements of MI 61-101 contained in Section 5.5(a) and Section 5.7(1)(a) in respect of any such related party transaction on the basis that the fair market value of the transaction does not exceed more than 25% of the Company’s market capitalization. The Company expects to file a material change report in respect of any related party transaction on SEDAR prior to the closing of the offering, the whole as required by MI 61-101.
Eureka Vapor LLC Update
The Company is pleased to update shareholders on the status of its planned strategic acquisition of multi-state licensed operator, Eureka Vapor (“Eureka”), as the companies continue to work towards completing a definitive agreement. Based on projected timelines for the completion of the audit of Eureka’s financial statements, the companies expect to sign a definitive agreement in the third quarter of the 2019 calendar year.
“We are excited to be joining forces with NORTHBUD to drive strong long-term revenue growth in both Canada and the United States,” said Justin Braune, CEO of Eureka Vapor. “The Eureka team continues to evaluate synergistic acquisitions in multiple U.S. states to expand both the Eureka Vapor and NORTHBUD brands post-closing of our transaction.”
Corporate Update
The Company is in the final stages of preparation for submission of the required evidence package to Health Canada for its cannabis production facility located in Low, Quebec. Consultants have scheduled the evidence package for the end of June and it will be submitted to Health Canada upon its completion.
“We are very excited to be nearing completion of this project,” said Ryan Brown, CEO of North Bud Farms. “We are equally encouraged by recent changes in the application process that will allocate more resources to companies who are operationally ready. The Company will provide an update post submission of the evidence package.”
About North Bud Farms Inc.
North Bud Farms Inc., through its wholly owned subsidiary GrowPros MMP Inc., is pursuing a licence under The Cannabis Act. North Bud Farms Inc. is constructing a state-of-the-art purpose-built cannabis production facility located on 95 acres of Agricultural Land in Low, Quebec. North Bud Farms Inc. will be focused on Pharmaceutical and Food Grade cannabinoid production in preparation for the legalization of edibles and ingestible products scheduled for October 2019.
For more information visit: www.northbud.com
Neither the Canadian Securities Exchange (the “CSE”) nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking statements
Certain statements and information included in this press release that, to the extent they are not historical fact, constitute forward-looking information or statements (collectively, “forward-looking statements”) within the meaning of applicable securities legislation. Forward-looking statements, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, “may”, “should” and similar expressions to the extent they relate to the Company or its management. Forward-looking statements are based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect.
Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the risk factors included in the Company’s final long form prospectus dated August 21, 2018, which is available under the Company’s SEDAR profile at www.sedar.com. Accordingly, readers should not place undue reliance on any such forward-looking statements. Further, any forward-looking statement speaks only as of the date on which such statement is made. New factors emerge from time to time, and it is not possible for the Company’s management to predict all of such factors and to assess in advance the impact of each such factor on the Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. The Company does not undertake any obligation to update any forward-looking statements to reflect information, events, results, circumstances or otherwise after the date hereof or to reflect the occurrence of unanticipated events, except as required by law including securities laws. This news release does not constitute an offer to sell or a solicitation of any offer to buy any securities of the Company.
FOR ADDITIONAL INFORMATION, PLEASE CONTACT:
North Bud Farms Inc.
Edward Miller
VP, IR & Communications
Office: (855) 628-3420 ext. 3
investors@northbud.com