Mondias receives positive results from greenhouse production tests conducted on CELEXT07 with leading cannabis producer
Momentum Public Relations
Press Release: March 18, 2019
Canada NewsWire
MONTREAL, March 18, 2019
- Foliar application of CELEXT07 bio-defense stimulant extract alone or in combination with a botanically-derived antimicrobial plant extract results in the prevention and suppression of powdery mildew on cannabis leaves.
- CELEXT07 is a strong alternative to synthetic fungicides for cannabis growers in search of eco-friendly alternatives.
- CELEXT07 extract is ready to market: production capacity secured to meet demand from potential clients.
MONTREAL, March 18, 2019 /CNW/ – Mondias Naturals Inc. (“Mondias” or the “Company”) (TSXV: NHP) is pleased to announce the results of its greenhouse production tests conducted in collaboration with McGill University and a leading cannabis producer on its proprietary CELEXT07 bio-defense stimulant plant extract.
Mondias has been developing CELEXT07 to help prevent fungal growth on plants through its proven ability to boost plant defense systems. The objective of the tests was to measure the product’s efficacy in reducing and suppressing the most common fungal diseases encountered in cannabis through the application of CELEXT07 alone and in combination with a botanically-derived antimicrobial plant extract grown in greenhouse production systems.
Summary of the test results:
- Preliminary results showed that foliar application of CELEXT07 alone resulted in the prevention of powdery mildew on cannabis leaves.
- Foliar application of CELEXT07 combined with the tested botanically-derived antimicrobial plant extract resulted in the prevention and suppression of powdery mildew on the leaves of three commercial varieties of cannabis. This combination was the most effective in protecting the cannabis variety most susceptible to powdery mildew.
- When applied alone or in combination with the tested botanically-derived antimicrobial plant extract as a foliar spray, CELEXT07 did not produce any phytotoxic effects on cannabis leaves.
- Soil drench application of CELEXT07 helped suppress grey mould on hops, a close relative of cannabis.
“These results validate the effectiveness of CELEXT07’s bio-defense stimulant properties and open up a large potential market for Mondias, especially as the testing was done in collaboration with a leading cannabis producer,” said Jean-Philippe Gravel, Chief Executive Officer of Mondias. “Furthermore, cannabis growers are seeking eco-friendly alternatives to pesticides. The results from these greenhouse production tests will allow us to market CELEXT07 to a growing number of Canadian cannabis producers. The product is ready to market, and we have secured the production capacity we need to meet demand from potential clients.”
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: 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.
Forward-looking statements
Some statements in this release may contain forward-looking information. All statements, other than of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding potential acquisitions and financings) are forward-looking statements. Forward-looking statements are generally identifiable by use of the words “may”, “will”, “should”, “continue”, “expect”, “anticipate”, “estimate”, “believe”, “intend”, “plan” or “project” or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company’s ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, without limitation, the inability of the Company to obtain sufficient financing to execute the Company’s business plan; competition; regulation and anticipated and unanticipated costs and delays, the success of the Company’s research and development strategies, the success of this joint venture, the ability to obtain orphan drug status, the applicability of the discoveries made therein, the successful and timely completion and uncertainties related to the regulatory process, the timing of clinical trials, the timing and outcomes of regulatory or intellectual property decisions and other risks disclosed in the Company’s public disclosure record on file with the relevant securities regulatory authorities. Although the Company has attempted to identify important factors that could cause actual results or events to differ materially from those described in forward-looking statements, there may be other factors that cause results or events not to be as anticipated, estimated or intended. Readers should not place undue reliance on forward-looking statements. While no definitive documentation has yet been signed by the parties and there is no certainty that such documentation will be signed. The forward-looking statements included in this news release are made as of the date of this news release and the Company does not undertake an obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless required by applicable securities legislation.
SOURCE Mondias Natural Products Inc.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/March2019/18/c6020.html
Contact:
Mondias Natural Products Inc., Jean-Philippe Gravel, Chief Executive Officer, 514-804-4569, jpgravel@mondias.ca
- Published in Cannabis, Life Sciences, Marijuana, Mondias Natural, News Home
Grown Rogue Bringing Proven Growth Model to Large Michigan Cannabis Market for 2019
Momentum Public Relations
Press Release: March 12, 2019
Grown Rogue International Inc. (CSE:GRIN | OTC: NVSIF) (“Grown Rogue” or the “Company”), a vertically-integrated, multi-state cannabis company, with licenses and operations in Oregon and California, is bringing its winning brand and business model which generated compound monthly sales growth of 14% during the 2018 calendar year in Oregon – one of the world’s most competitive cannabis markets – into the newly legalized recreational cannabis market in Michigan. Grown Rogue anticipates gaining meaningful traction for its brand through its local partnership with licensed operators in the State of Michigan.
Oregon is among the most competitive cannabis markets in the United States based on total active cultivation and licenses per capita. According to an August 2018 report from Oregon-Idaho High Intensity Drug Trafficking Area (HIDTA), “Oregon has more than a thousand licensed recreational marijuana growers, with roughly 900 more in the queue to receive licenses. There’s one licensed cultivation operation for every 19 consumers.” Despite this competition, Grown Rogue launched its first cannabis products in late 2017 into the Oregon market and gained sales traction and market share as a result of high-quality products, unique branding and effective marketing. By the end of 2018 Grown Rogue branded products were available in more than half of Oregon dispensaries.
A number of factors contributed to Grown Rogue’s overall success in 2018:
- Optimization of cultivation and distribution teams;
- Major increase in outdoor harvest from 2017 to 2018 by over 50% based on training and efficiency programs implemented in early 2018;
- Accolades in product quality in Oregon by setting outdoor potency record and winning the prestigious Growers Cup in 2 of 3 categories;
- Established partnership with international award winning chocolatier;
- Expansion into California with a 16,000 sq ft micro business facility with retail, processing, and distribution licensing.
“Launching Grown Rogue in Oregon required fastidious planning and execution in order to be successful,” said Obie Strickler, Founder and CEO. “We properly navigated the regulatory environment for recreational cannabis and refined the preferred consumer experience around brands and product selection, and established innovations in product development and packaging. Operating in a State like Oregon that was early to legalize cannabis has provided a tremendous amount of intellectual, operational, and cultivation expertise. We also have significant understanding of the cannabis consumer and evolving cannabis products and formats. We are taking this expertise and applying it into new states and are particularly optimistic about the tremendous opportunity in Michigan.”
Michigan is the first state in the Midwest to vote for the legalization of recreational cannabis . Michiganhas the largest medical cannabis population per capita and is second only to California in total medical users. As a relative comparison, the state of Michigan has a population of approximately 10 million people and about 313,000 registered medical cannabis patients according to Michigan Live, or 3.1%, compared to Canada with a population of approximately 38 million, which had 342,103 registered medical patients at September 30, 2018 according the Health Canada, or 0.9% where cannabis is fully legal at both provincial and federal levels.
By any measure, Michigan has one of the most active medical cannabis markets in America which is a leading indicator in the potential size of the recreational market.
Number of legal medical marijuana patients in the U.S. as of May 2018, by state according to ProCon.org:
STATE |
# OF MEDICAL MARIJUANA PATIENTS |
STATE POPULATION |
# OF PATIENTS PER 1,000 RESIDENTS |
Michigan |
269,553 |
9,9962,311 |
27.06 |
California |
915,845 |
39,536,653 |
23.16 |
Colorado |
88,946 |
5,607,154 |
15.86 |
Oregon |
45,210 |
4,142,776 |
10.91 |
Washington |
80,818 |
7,405,743 |
10.91 |
Massachusetts |
48,265 |
6,859,819 |
7.04 |
Grown Rogue’s current expected portfolio in Michigan includes two strategically positioned retail centers (known as provisional licenses) in Hazel Park and Midtown Detroit as well as a 19,000 sq ft cultivation center in Detroit. Additional license acquisitions are being reviewed.
“Our expansion into Michigan has the potential to add substantial value to the overall business. Our track record of growth to date should give current and future shareholders the confidence that we will continue to perform in the exciting Michigan market,” added Jacques Habra, Chief Strategy Officer.
Grown Rogue expects Michigan operations to begin generating revenue in late 2019.
About Grown Rogue
Grown Rogue International (CSE: GRIN | OTC: NVSIF) is a vertically-integrated, multi-state cannabis company curating innovative products to provide consumers with the right cannabis experience. Each of Grown Rogue’s products and strains are categorized and marketed based on unique effects and designed for the full range of a consumers’ lifestyle. Grown Rogue is scaling the vertically integrated model into multiple states by incorporating best-in-class manufacturing facilities and a proprietary distribution platform based on Microsoft technology. Grown Rogue’s diverse cannabis product suite includes premium flower, patent-pending nitrogen sealed pre-rolls, oil and concentrates, and edibles featuring a partnership with world-renowned chocolatier, Jeff Shepherd.
Crop’s Elite Partners With MYM Nutraceuticals on 120 Acres of Nevada Hemp
Momentum Public Relations
Press Release: March 7, 2019
CROP INFRASTRUCTURE CORP. (CSE: CROP) (OTC: CRXPF) (Frankfurt: 2FR) announced today it has entered into an agreement with MYM Nutraceuticals Inc., (CSE: MYM) (OTCBB: MYMMF) (“MYM”) to partner with CROP’s subsidiary, Elite Ventures Group LLC., on 120 acres of CBD-rich hemp in Nevada, USA.
Under the agreement, MYM will fund Elite with $500,000 USD in exchange for the rights to 50% of CBD rich hemp grown on a 120 acre parcel of land in Nevada. In consideration for the investment, Elite will provide all the necessary capital and consumable supplies, plant, grow and harvest the hemp. If requested, Elite will also arrange for the processing and sale of the biomass at no less favourable terms that those found in the Elite supply agreements.
Based on Elite’s previous success in cultivating 120 acres of similarly situated land in August 2018, the estimated production of hemp from the MYM parcel of land is 120,000 pounds per harvest with a CBD level of 10%-19%. This represents potential revenue of over $26 million, of which MYM is entitled to 50% less processing and sales fees.
CROP CEO, Michael Yorke, stated: “This is very significant partnership arrangement with Vancouver-based MYM Nutraceuticals which has operations in three countries and will bring additional exposure to our organic hemp products.”
About CROP
Crop is publicly listed company trading under symbol CROP.CSE. The company is focused on cannabis branding and real estate assets. CROP’s portfolio of projects includes cultivation properties in California, two in Washington State, a 1,000-acre Nevada cannabis farm, 2,115 acres of Hemp CBD farms, and a growing portfolio of common share equity in upcoming listings within the cannabis space. CROP has developed a portfolio of assets including Canna Drink, a cannabis infused functional beverage line and 16 Cannabis brands.
About MYM
MYM Nutraceuticals Inc. is an innovative company focused on the global growth of Cannabis and hemp. To ensure a strong presence and growth potential within the industry, MYM is actively looking to acquire complementary businesses and assets in the technology, nutraceuticals and CBD sectors. MYM shares trade in Canada, Germany and the USA under the following symbols: (CSE:MYM) (OTC:MYMMF) (FRA:0MY) (DEU:0MY) (MUN:0MY) (STU:0MY).
Company Contact
Michael Yorke – CEO and Director
E-mail: info@cropcorp.com
Website: www.cropcorp.com
Phone: (604) 484-4206
- Published in Cannabis, CROP Infrastructure, hemp, Marijuana, News Home
North Bud Farms Signs Binding Letter of Intent to Enter U.S. Market with Strategic Acquisition of Multi-State Licensed Operator Eureka Vapor
Momentum Public Relations
Press Release: March 6, 2019
North Bud Farms Inc. (CSE: NBUD) (OTCQB: NOBDF) (“NORTHBUD” or the “Company”) is pleased to announce that effective March 3, 2019 it entered into a binding letter of intent (“LOI”) to acquire all the issued and outstanding shares of Eureka Vapor LLC. and all of its subsidiaries (“Eureka”), a U.S. multi-state cannabis operator, and arm’s length to the Company, in a transaction valued at CAD$20 million.
Eureka, through its wholly-owned subsidiaries holds Manufacturing and Distribution licenses in the states of California and Colorado. Eureka manufactures and sells a premium line of disposable vapor pens as well as multi-use cartridge-style vapor pens and hardware. Eureka has been operating in California and Colorado since 2011 and 2015, respectively, showing significant organic growth year over year. In 2018, Eureka recognized revenue of approximately CAD$11.5 million* with a net profit margin of 16%* from its California and Colorado operations. Eureka anticipates further growth in revenue due to anticipated changes to retail regulation of adult cannabis use in California. Eureka products are currently available in over 100 retail stores. (*all figures are unaudited). For more information about Eureka Vapor, visit: www.eurekavapor.com.
Transaction Terms
The proposed transaction (the “Transaction”) is structured as a share purchase agreement whereby in exchange for the purchase of all of the shares of Eureka, NORTHBUD will issue CAD$20 million in common shares (“Common Shares”) to the shareholders of Eureka (the “Eureka 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 Eureka expect to enter into the Definitive Agreement by May 30, 2019. 10% of the Common Shares issued pursuant to the Definitive Agreement will be issued to the Eureka Shareholders on the Closing Date, with the remainder of Common Shares issued in equal tranches of six, twelve, eighteen, and twenty-four months from the Closing Date (the “Escrow Period”). The Transaction will be considered a “Fundamental Change” pursuant to the policies of the CSE and will accordingly require a new listing statement (the “Listing Statement”). Given that effective as of the Closing Date the Company will have United States cannabis operations, the Listing Statement will provide disclosure of the risks associated with cannabis operations in the United States. Closing of the Transaction is subject to applicable corporate and regulatory approvals as well as shareholder and CSE approval.
In addition, Eureka Shareholders will be eligible to receive up to an additional CAD$25 million of Common Shares (“Revenue Milestone Shares”) based on the achievement of USD$25 million of revenue derived from existing Eureka California and Colorado operations. Eureka Shareholders will receive Revenue Milestone Shares pro rata, on a quarterly basis, based on the percentage of USD$25 million of revenue generated in that quarter. All Revenue Milestone Shares will continue to be subject to the remainder of the Escrow Period at the time of issuance and will only be releasable in accordance with the Escrow Period. The Revenue Milestone Shares will be issued at the 10-day VWAP at the time of issuance.
“The opportunity to partner with a recognized brand in some of the most developed retail markets in North America is an exciting development for NORTHBUD,” says Ryan Brown, CEO of NORTHBUD. “We believe that vape cartridges represent a high margin and high-growth product segment of the market. The Eureka team are proven operators and possess an unmatched product knowledge which is evidenced by the strong brand loyalty that they have established.”
“Aligning ourselves with NORTHBUD provides Eureka with both exposure to the Canadian public markets as well as the largest federally legal adult-use market in the world,” says Justin Braune, CEO of Eureka Vapor. “We will be working with the NORTHBUD team to introduce our product line into the Canadian market for the fourth quarter of 2019 when vape pens will be permitted.”
Granting of Stock Options
The Company also announces the granting of 150,000 stock options to a consultant and employee. Each option entitles the holder to acquire one Common Share for a period of five years at an exercise price of CAD$0.35 per Common Share. The options all vest immediately.
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.eurekavapor.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. 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 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 projected growth of Eureka in 2019, the entering into of the Definitive Agreement, closing of the Transaction and associated approvals, Eureka’s ability to achieve milestones under the Definitive Agreement and associated Common Share issuances, the growth of the vape industry and its profitability, the timing of the introduction of Eureka vape pens into the Canadian market, and the projected legalization of edibles and ingestible products scheduled for October 2019. 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
- Published in Cannabis, Marijuana, Medical Marijuana, News Home, NorthBud
Grown Rogue Announces Binding Agreement for Michigan Cannabis Licenses and Assets
Momentum Public Relations
Press Release: February 25, 2019
Grown Rogue International Inc. (CSE:GRIN | OTC: NVSIF) (“Grown Rogue” or the “Company“), a vertically-integrated, multi-state cannabis company, with licenses and operations in Oregon and California, has signed a binding agreement which provides the Company the right to acquire operational control of certain cannabis licenses and related assets as part of its expansion into the Michigan cannabis market, pending certain regulatory approvals.
“With the second highest total number of medical cannabis card holders in the United StatesMichigan’slegalization of cannabis for adult-use presents a very large cannabis market opportunity. Significant barriers to entry at the local level add meaningful value to the limited number of municipal licenses approved,” explained Obie Strickler, CEO of Grown Rogue. “We are very diligent in our expansion strategy and in finding the right partners to take the proven Grown Rogue platform into the state. Combining our expertise enables us to efficiently navigate and comply with the regional regulatory environment and rapidly expand the Grown Rogue footprint and brand.”
Grown Rogue has entered into a binding agreement (the “Agreement“) with Blue Zebra Community LLC (“Blue Zebra“). The Agreement provides for the option to acquire operational control (the “Option“) of the following cannabis related assets in Michigan pending Municipal and State regulatory approval (the “Michigan Assets“):
- Two strategically located proposed provisioning centers (retail dispensaries) in high demand regions in Midtown Detroit and Hazel Park where limited municipal licenses have been granted.
- A proposed 19,000 sq ft indoor cultivation and processing facility in Detroit, Michigan capable of producing 1,500,000 grams of dried cannabis flower annually at full production; and
- An entity that has received multiple municipal cultivation licenses for a 28-acre parcel located in the northern portion of the lower Michigan peninsula.
Once fully licensed, the provisioning (retail) centers will offer multiple Michigan cannabis brands as well as locally produced Grown Rogue branded products for the Michigan cannabis market. This will launch the Grown Rogue brand into the Midwest region.
Upon exercising the Option by Grown Rogue, Blue Zebra (or affiliates) is required to assign its rights and obligations to the Company pursuant to a binding agreement Blue Zebra (or affiliates) has with Helios Holdings, LLC (“Helios“) which provides the framework for the acquisition of the Michigan Assets as described below (the “Helios Agreement“). As part of its Agreement with Blue Zebra, Grown Rogue will issue 2,212,876 common share purchase warrants to Blue Zebra (or its affiliates) with an exercise price of $0.44 per share (the “Warrants“), which vest according to certain milestones in accordance with the agreement with Blue Zebra.
The Warrants expire on June 20, 2023. Grown Rogue will have the right to accelerate the expiry date of 25% of the Warrants during the term if the shares of the Company close at or above $1.00 per share for a period of twenty (20) consecutive days. An additional 25% of the Warrants will accelerate if the shares of the Company close at or above $1.50 per share for a period of twenty (20) consecutive days, and the remainder of the Warrants will accelerate if the shares of the Company close at or above $2.00 per share for a period of twenty (20) consecutive days.
Pursuant to the terms of the Agreement, Grown Rogue has granted Blue Zebra, together with any affiliates, a pre-emptive right to maintain ownership, should the Warrants be exercised, of up to 5% of Grown Rogue’s common shares. At the time Blue Zebra, or any affiliates, exercises its Warrants to obtain 5% ownership in the Company, Blue Zebra will have the right to nominate one member to Grown Rogue’s board who shall be nominated by management at each annual shareholder meeting of Grown Rogue until such time the Blue Zebra’s ownership in Grown Rogue falls below 4.67%. In addition, Grown Rogue has agreed to pay Blue Zebra between 5% and 7% of top line future revenues generated from its licensed operations in Michigan. Payment on these revenues shall be in a combination of stock and cash.
Helios Agreement
Helios, and its affiliate, intend to contribute real property for a 19,000 sq ft. proposed cultivation and processing facility to a newly formed joint venture to be operated by Grown Rogue, or its designated affiliate, upon receiving all necessary regulatory approvals.
Grown Rogue intends to secure a non-dilutive, real estate financing facility to cause the improvements to the Michigan Assets to be completed.
Helios will contribute the remaining Michigan Assets into one or more newly formed operating company(s) (“OpCo“). It is intended that Grown Rogue will hold a 3.62% convertible debenture for the initial funding of OpCo, with a put/call option to acquire all the issued and outstanding shares of the OpCo. The convertible debenture principal, including any interest, shall be returned to Grown Rogue first from 50% of any cash flow generated by OpCo. Conversion of the debenture by Grown Rogue is subject to State and Municipal regulatory approval.
The State licensing and regulatory process in Michigan requires multiple tiers of approval for any operations (cultivation, retail). Several municipal licenses have successfully been awarded to Helios and its affiliates.
Once licensed by the State, the 19,000 square foot facility will be the first cultivation and manufacturing center for OpCo. Initial plans for this facility will include the ability to produce 1,500,000 grams of cannabis flower per year with the construction of a perpetual harvest facility expected to open in Q4 2019. This facility will also include best-in-class extraction facilities where the OpCo will produce branded derivative products.
The interest in the 28-acre cultivation facility can include either indoor or greenhouse operations which are currently being evaluated. Construction and operation of this facility is expected in 2019 with an anticipated yearly yield of between 1,500,000 and 2,500,000 grams of annual cannabis production based on final design plans.
Both of OpCo’s proposed retail dispensaries are located in desirable high traffic locations and are expected to be licensed and operational by Q4 2019. OpCo aims to further expand to 10 retail dispensaries and 50,000 sq ft of cultivation facilities by the middle of 2020.
“Our partnership with Grown Rogue has accelerated our operations and already we have identified several additional licenses which could make Grown Rogue one of the leading cannabis operations in the entire state of Michigan,” stated Maxim Ermakov, Helios Executive Director.
About Grown Rogue
Grown Rogue International (CSE: GRIN | OTC: NVSIF) is a vertically-integrated, multi-state cannabis company curating innovative products to provide consumers with the right cannabis experience. Each of Grown Rogue’s products and strains are categorized and marketed based on unique effects and designed for the full range of a consumers’ lifestyle. Grown Rogue is scaling the vertically integrated model into multiple states by incorporating best-in-class manufacturing facilities and a proprietary distribution platform based on Microsoft technology. Grown Rogue’s diverse cannabis product suite includes premium flower, patent-pending nitrogen sealed pre-rolls, oil and concentrates, and edibles featuring a partnership with world-renowned chocolatier, Jeff Shepherd.
Subscribe to Grown Rogue investor news alerts.
- Published in Cannabis, Grown Rogue, Marijuana, Medical Marijuana, News Home
Cannara Biotech – Quebec’s largest cultivation facility
Cannara Biotech (CSE:LOVE)(FRA:8CB)
Headquartered in Montreal, Cannara Biotech is building the largest indoor cannabis cultivation facility in Quebec and one of the largest in Canada, a modern and secure 625,000-square-foot facility in Farnham, Quebec.
“Being in Quebec allows us to take advantage of the low cost of electricity and gives us a cost advantage over our competitors.” – ZOHAR KRIVOROT – CEO and Founder
Highlights
- Some 100,000 kg of cannabis production is expected per year once all 3 phases are operational. Today, phase 1 is being built with completion expected end of Q2 2019. Once completed, yield is expected at 15,000 kg.
- Cannara Biotech has raised $55M to date, has acquired 19 provisional patents for product exclusivity, and has developed 8 assorted THC/CBD infused product brands to add to their offerings.
- Low electricity cost in Quebec as well as reduced labour cost compared to the rest of Canada gives the Company a cost advantage over their competitors.
- Independent THC and CBD brands will be produced on-site accelerating speed to market.
- The Company will leverage the facility with joint-ventures to produce edibles, pet-products, cosmetics and beverages once the processing license is secured which is estimated for the end of 2019.
- The advantage of growing in an indoor facility offers lower risk of airborne infections, mold/mildew and produces a higher grade of cannabis.
- Cannara Biotech is building an online e-commerce platform (shopCbd.com) that will serve as a podium and distribution channel for US-CBD brands for the American market.
Closer look
Phase 1 will provide 130,000ft2 of growing space. Growing is expected to commence in the fall of 2019 with an estimated yield of 15,000kg.
Cannara Biotech raised $55 million from private investors during the introduction of this project and still have over $40 million in the bank with Phase 1 fully funded.
Phase 2 forecasted to be running by 2020 is 205,000ft2 and likely to yield 38,000kg per year. Phase 3 aiming to be operational in 2022 is 277,000ft2 and expected to produce 55,000kg per year. Cannara Biotech is looking to produce over 100,000kg per year once fully operational.
Currently, 300 sq. ft. space for Phase 2 is being rented by occupants that contribute to a rental revenue of $2 million per year. These earnings pay the monthly fee for the whole facility.
Cannara Biotech’s strategy is also to maximize on the low electricity rates Quebec has with its Hydro and low labour rates in Quebec.
Growing indoor cannabis often results in a higher grade of cannabis. Growing in a controlled environment, protected from many outdoor ailments and mildew creates a more consistent and desirable product for buyers and consumers.
Alongside selling cannabis to intermediaries who will transform the crop into their desired product, Cannara Biotech will have on-site independent THC and CBD brands, following the adoption of regulations on cannabis-infused edibles and beverages, that will produce and ship from the facility. Cannara Biotech’s facility will be a multi-purpose facility that will cultivate recreational cannabis and produce cannabinoid-infused products including edibles, cosmetics, pet products and beverages. These products will be shipped to stores and retail outlets in Canada and to international markets.
Cannara Biotech went public in Q1 of this year and is being traded on the CSE under the ticker “LOVE” and on the FRA under the ticker “8CB”. As of February 12th, 2019, LOVE closed at .22.
—
Isabelle Arsenault
Media Relations
MomentumPR
Cannara Biotech Shares to Begin Trading on the Frankfurt Exchange
Momentum Public Relations
Press Release: February 11, 2019
Cannara Biotech Inc. (“Cannara Biotech” or the “Company”) (CSE: LOVE) (FRA: 8CB), a vertically integrated cannabis company focused on cultivation and cannabis-infused products, today announced its common shares are listed for trading on the Frankfurt Stock Exchange under the trading symbol “8CB”. The Company’s common shares continue to be listed on the Canadian Securities Exchange under the trading symbol “LOVE”.
The Frankfurt Stock Exchange is the tenth largest stock exchange in the world by market capitalization and third largest in terms of volume. It is Germany’s largest stock exchange.
“No doubt the world is becoming keenly interested in the global cannabis industry, and much of that enthusiasm and attention is turning towards Canadian companies who are at the forefront of innovating and leading this sector,” said Zohar Krivorot, President and CEO of Cannara Biotech. “For Cannara Biotech, whose vision is to be a premium global cannabis company, this international listing will enable us to broaden our shareholder base, while allowing international investors to participate in our growth.”
The Canadian cannabis market is forecasted at $5.2B in year one of legalization and is expected growth of 20% annually to reach $10.8B in five years.
About Cannara Biotech Inc.
Cannara Biotech is building one of the largest indoor cannabis cultivation facility (625,000 square foot) in Canada and the largest in Quebec. Leveraging Quebec’s low electricity costs, Cannara Biotech’s facility will produce high-grade indoor cannabis and cannabis-infused products for the Canadian and international markets. Most recently, the Company entered the U.S. CBD-hemp market with an online eCommerce platform called shopCBD.com, which will also make the Company an aggregator of U.S. CBD-hemp products. For more information, visit our website: www.cannara.ca
The CSE does not accept responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding “Forward-Looking” Information
This information release contains certain forward-looking information. Such information involves known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by statements herein, and therefore these statements should not be read as guarantees of future performance or results. All forward-looking statements are based on the Company’s current beliefs as well as assumptions made by and information currently available to it as well as other factors. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Due to risks and uncertainties, including the risks and uncertainties identified by the Company in its public securities filings, actual events may differ materially from current expectations. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
View original content:http://www.prnewswire.com/news-releases/cannara-biotech-shares-to-begin-trading-on-the-frankfurt-exchange-300792906.html
SOURCE Cannara Biotech Inc.
View original content: http://www.newswire.ca/en/releases/archive/February2019/11/c8723.html
Contact:
Sabrina Williams, Communications Manager, sabrina.williams@cannara.ca, T: 514-543-4200 ext. 265; Zohar Krivorot, President & CEO, zohar@cannara.ca; Lennie Ryer CPA, CA, CFE, Chief Financial Officer, lennie@cannara.ca
- Published in Cannabis, Cannara, Marijuana, Medical Marijuana