Marijuana Minute: Weekly News Recap

Aleafia Names Entrepreneurial Growth Executive Trevor J. Newell as Chief Marketing & Technology Officer

TORONTOAug. 14, 2018 /CNW/ – The Board of Directors of Aleafia Health Inc. (TSXV: ALEF) (OTCQX: ALEAF) (“Aleafia“) or (the “Company“), one of Canada’s leading, vertically integrated medical cannabis companies with a unique patient-focused, healthcare solution, has appointed Trevor J. Newell, as its new Chief Marketing & Technology Officer (CMTO).

Trevor has experienced and lead exponential growth at both the enterprise and start-up level, building disruptive strategies and executing them with analytical passion. Trevor has the unique ability to establish and scale Aleafia’s global leadership vision of a fully integrated marketing and technology strategy founded on delivering quality patient care from seed to sale.

Trevor assumed the CMTO role on August 13, 2018 and reports directly to CEO Geoff Benic and will be responsible for the strategic direction and execution accountability for all of Aleafia’s marketing, sales, partnerships, business development and technologies.

Prior to joining Aleafia, Trevor was co-founder and President of SHOP.CA Network Inc. (SHOP.CA), Canada’s first eCommerce Marketplace, creating a national brand with over 15 million products across 5,000 brands from 1,500 suppliers. Trevor lead the establishment and growth of all operations within SHOP.CA throughout the idea, launch and growth phases. Trevor’s career experience also includes: GE where his global enterprise experience lead to him earning his master black belt of six sigma within GE’s Information Management Leadership Program, and Oracle within Financial Services as head of global product strategy for capital markets and wealth management.

The catalyst for Trevor’s entrepreneurial passion came during his tenure at Janna Systems Inc., as the company grew from 40 to 400 people in less than three years and eventually sold to Siebel Systems (later acquired by Oracle) for $1.76 billion in the fall of 2000.

“Trevor is an innovative thinker with a long track record of leading industry disrupting companies.  We are excited to unleash his passion and unique skill set to build Aleafia’s marketing and technology teams while building on our success of combining 22 clinics, over 50,000 patients assessed and the two cannabis production facilities into an integrated organization,” said Geoff Benic, CEO of Aleafia.

View full press release: https://bit.ly/2P9qnSY

 

Canopy Growth Extends Existing Commercial Agreement

SMITHS FALLS, ONAug. 14, 2018 /CNW/ – Canopy Growth Corporation (“Canopy Growth” or the “Company”) (TSX: WEED) (NYSE: CGC) has issued $2,500,000 in common shares of Canopy Growth in connection with the expansion of an existing commercial arrangement at a price per share equal to the 5-day volume weighted-average price of the Company’s common shares on the TSX ending on [August 10, 2018]. All figures are in Canadian dollars unless otherwise noted.

Here’s to Future Growth.

View full press release: https://bit.ly/2Ozv4nS

 

Cronos Group Inc. Announces Second Quarter 2018 Results

Increased Sales 428% Year-over-Year

Signed 5 Year Exclusive Distribution Agreement for Poland

Launched Premium Recreational Brand COVE

Added 70,000 KG of Additional Capacity through Cronos GrowCo JV

Signed 5 Year Take-or-Pay Supply Agreement for 100,000 KG

TORONTOAug. 14, 2018 /PRNewswire/ – Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) (“Cronos Group” or the “Company”), today announced financial results for the second quarter ended June 30, 2018.

“This year and subsequently, this quarter is about setting the stage and establishing Cronos Group’s strategy for future growth,” said Mike Gorenstein, CEO of Cronos Group. “Cronos Group delivered encouraging results across the Company in the second quarter with sales growing among all of our products and channels, impressive improvements in cultivation yields since the start of the year, and continued business development success in penetrating new markets and establishing new partnerships for expansion.”

“We pushed the business forward while achieving great milestones for the Company and this is only the beginning. Cronos Group is prepared for the domestic recreational market with the launch of our first premium-focused brand COVE™ and is applying a thoughtful approach to our supply and inventory build. Simultaneously, we are working to advance the operations within our current global footprint and bring new partnerships and distribution relationships to the table. We are excited by the progress we are making to execute against our strategy,” concluded Mike Gorenstein.

View full press release: https://bit.ly/2PaJQmr

 

Auxly Announces Product Strategy Update and World-Class Additions to Dosecann’s Management Team

VANCOUVER, British Columbia, Aug. 14, 2018 (GLOBE NEWSWIRE) — Auxly Cannabis Group Inc. (TSXV: XLY) (OTCQX: CBWTF) (“Auxly” or the “Company”) is pleased to provide an update on the product strategy of the Company’s wholly owned subsidiary, Dosecann Inc. (“Dosecann”), as well as a number of strategic additions to the management team of Dosecann.

Dosecann, Auxly’s cornerstone midstream asset that is Canada’s largest cannabis specific “Licensed Dealer”, is positioned to play a significant role as a leading research, product development, extraction, formulation and consumer packaged goods manufacturing center in the Canadian cannabis industry with its 42,000 square foot purpose-built facility in Charlottetown, PEI.

As previously announced, Dosecann has successfully obtained a Dealer’s Licence for Controlled Drugs and Substances (the “Licence”) from Health Canada and has commenced operations related to the creation of value-added cannabis products, as permitted by the Licence and applicable laws. Dosecann has further subdivided its cannabis activities into two segments, Medical Products and Consumer Packaged Goods.

The Medical Products segment, led by Dr. Christina Woollard and Dr. Bob Chapman, is focused primarily on research and development of new value-added cannabis products for sale to domestic and global medical cannabis and wellness markets. Part of this segment’s activities will include observational studies and clinical trials to validate the efficacy of new cannabis formulations and intellectual property.  It should be noted that, while current regulations do not allow for the creation of Natural Health Products containing cannabis, the Medical Products segment of Dosecann’s business will also focus on addressing market demand for wellness products containing cannabinoids through the research and development of such products within the parameters of applicable legislation.

View full press release: https://bit.ly/2w6Nt42

CannTrust™ Reports Record Revenue for Q2 2018 and is on Track to Full Completion of its Million sq ft Niagara Facility

VAUGHAN, ONAug. 14, 2018 /CNW/ – CannTrust Holdings Inc. (“CannTrust” or the “Company” | TSX: TRST), a licensed producer of medical cannabis under the Health Canada Access to Cannabis for Medical Purposes Regulation (“ACMPR”) program, today announced financial and operating results for the three and six months ending June 30, 2018. All amounts expressed are in Canadian dollars.

Revenue for the three and six month periods ended June 30, 2018 was $9,050,239 and $16,890,086 respectively, compared to $4,541,378 and $7,574,623 in the comparable 2017 periods. Net Income for the three and six month periods ended June 30, 2018 was $104,905 and $11,547,015 respectively, compared to a net income of $754,864 and a net loss of ($23,040) in the comparable 2017 periods.  Earnings for the current period were impacted by approximately $1.5 millionof increased costs associated with the ramp up of the Niagara Perpetual Harvest Facility. Earnings per share for the three and six month periods ended June 30, 2018 was $Nil and $0.12 respectively, compared to earnings per share of $0.01 and $Nil in the comparable 2017 periods.

2018 Second Quarter Highlights

  • Record Revenues of $9M in Q2 2018, a 99% increase from the comparable prior year period
  • Positive Net Income for the fifth consecutive quarter
  • Active patients increased to more than 45,000, a 117% increase from the comparable prior year period
  • Cannabis extracts were 60% of cannabis sales
  • Officially opened Niagara Perpetual Harvest 450,000 sq. ft. hydroponic greenhouse facility
  • Launched three new recreational brands: Liiv, Synr.g and Xscape
  • Entered into three recreational supply agreements in Western Canada to supply 17,000 kg of cannabis annually
  • Raised $100,395,000 through the issuance of common shares and warrants
  • Entered into a joint venture with Grey Wolf Animal Health to focus on development of medical cannabis products for the global pet market

View full press release: https://bit.ly/2BaY8jP

 

GrowGeneration Reports Record 2nd Quarter Revenue

Q2 2018 Revenue up 74% to $7.15 million
Revenue up 72% to $11.5 million for 6 Months

DENVER, COAug. 14, 2018 /PRNewswire/ – GrowGeneration Corp. (OTCQX: GRWG), (“GrowGen” or the “Company”) one of the largest specialty retail hydroponic and organic gardening stores, selling to both the commercial and home cannabis markets, with currently 18 locations, today reported financial results for its 2nd quarter ended June 30, 2018.

2nd Quarter 2018 Financial Highlights:

  • Revenue of $7.15 million, up 74% compared to revenue of $4.1 million for the 2nd quarter of 2017
  • Store operating costs have declined 13% from 18.2% for the 2nd quarter 2017 to 16.1% for the 2nd quarter of 2018
  • YTD revenue of $11.5 million, up 72% compared to YTD revenue of $6.7 million for 2017
  • YTD store operating costs have declined from 19.4% for the six months ended June 30, 2017 to 17.6% for the six months ended June 30, 2018
  • The Company had $17.4 million in cash and cash equivalents at June 30, 2018
  • As of June 30, 2018, the Company had working capital of $24.5 million compared to working capital of $5.6 million at December 31, 2017
  • The Company raised approximately $12.0 million in equity capital through the issuance of common stock and the exercise of warrants and $9.0 millionin convertible debt financing for the six-month period ended June 30, 2018
  • Four new stores acquired in Q2 2018
  • Revenue run rate guidance in excess of $42 million heading into 2019, $10.5 million for Q4 2018

View full press release: https://bit.ly/2w8SIzV

 

Aurora Cannabis and Alcanna Applaud Ontario Government Decision to Open Province to Private Retail of Cannabis

Alcanna to Rapidly Establish “Significant Presence” of Aurora-Branded Cannabis Stores in Ontario

TSX: ACB & CLIQ

EDMONTONAug. 14, 2018 /CNW/ – Aurora Cannabis Inc. (“Aurora”) (TSX: ACB) (OTCQB: ACBFF) (Frankfurt: 21P; WKN: A1C4WM) and Alcanna Inc. (“Alcanna”) (TSX: CLIQ) applaud the Ontario Government on its new plans for the responsible sale of recreational cannabis products through government-operated online sales, and the private sector.

Aurora and Alcanna have entered into a license agreement which – as soon as regulations permit – will allow Alcanna to open retail cannabis stores under the brand name “Aurora”. Alcanna has made considerable progress in preparing for this exciting opportunity and has identified over 100 potential retail locations throughout the province already. This agreement represents a significant competitive advantage and will allow for the rapid establishment of a robust network of cannabis retail stores that comply with all provincial and municipal requirements, making product, consumer and public safety a top priority.  Together, the two companies have the technology, relationships, and supply chain and retail expertise to quickly establish a full network of stores across the province as soon as they are permitted.

“Allowing a private retail channel in Ontario for recreational cannabis is good news for industry, consumers, and taxpayers, and will go a long way to making a meaningful impact on the grey market,” said Aurora CEO Terry Booth. “It’s the right thing to do, and we commend Premier Ford and his government for taking this bold step. Through Alcanna, the nation’s largest private retailer of a controlled substance, we will leverage long-standing relationships with landlords, regulators and other stakeholders, and through superior capitalization, we will rapidly establish a significant presence in the province.”

View full press release: https://bit.ly/2vQlUwD

 

Terra Tech Corp. Announces Partnership with Valiente Group to Produce Cannabis-Infused, Non-Alcoholic Beverages

IRVINE, Calif., Aug. 14, 2018 (GLOBE NEWSWIRE) — Terra Tech Corp. (OTCQX: TRTC), (“Terra Tech” or the “Company”) a vertically integrated cannabis-focused agriculture company, is pleased to announce that it has partnered with the Valiente Group, a beverage production company that specializes in cannabis infusion, to produce a line of cannabis-infused beverages under the IVXX brand.

The Company, through the partnership, is currently developing a range of non-alcoholic, cannabis-infused beverages, including ‘champagne’, ‘apple cider’, lemonade ‘margarita’ mix, zero calorie lemon lime soda and cherry lime sparkling water. The infusion technology will be powered by SORSE branded technology, a product of Tarukino Holdings, a patent pending Emulsion process which leaves beverages without oily residues and without cannabis flavor. The Company is simultaneously developing a single shot flavorless, odorless 5 milligram and 10 milligram shot that can be added to any beverage or craft cocktail for at-home infusion.

Additionally, the Company is building-out a large-scale production and bottling facility at its Dyer Road facility located in Santa Ana, California, for distribution within the California Market.

“Our relationship with the Valiente Group will enable our initial entrance into the cannabis-infused, non-alcoholic beverage market, which is among the least crowded segments in the adult-use cannabis industry and presents a tremendous first mover opportunity for Terra Tech,” Derek Peterson, CEO of Terra Tech, stated. “The build out of our Dyer Road facility will serve the growing demand for cannabis-infused beverages in the California Market and, in the future, we expect it to enable distribution to other markets, including Nevada.”

View full press release: https://bit.ly/2Ms890y

Aurora Cannabis Completes Acquisition of Anandia Laboratories

EDMONTONAug. 14, 2018 /CNW/ – Aurora Cannabis Inc. (“Aurora” or the “Company”) (TSX: ACB) (OTCQB: ACBFF) (Frankfurt: 21P; WKN: A1C4WM) today announced that its acquisition of Anandia Laboratories Inc. (“Anandia”) is now complete. The previously announced arrangement, under the provisions of the Business Corporations Act (British Columbia), means that among other things, Aurora has now acquired all of the issued and outstanding shares of Anandia in an all-share transaction (the “Transaction”).

Anandia is a world-leading cannabis-focused science company, specialized in genomics, metabolite profiling, plant breeding, disease characterization, and cultivar certification, as well as providing testing services to producers and patient-cultivators.

Dr. Jonathan Page, co-founder of Anandia, is a globally renowned cannabis scientist, whose 37 peer-reviewed publications include key studies on cannabinoid and terpene biosynthesis. He previously led the Canadian team of scientists who were first to publish the cannabis genome sequence. As a result, Anandia now holds intellectual property with significant commercial value that can be applied towards highly specialized and customized cultivar and product development. Dr. Page is also an accomplished inventor with 8 issued patents or patent applications, and a frequent lecturer on cannabis science at international conferences.

The acquisition of Anandia represents a critical piece of Aurora’s vertical integration strategy – to create a company that captures margin along the entire cannabis industry value chain, enhances cultivation yields to improve financial performance, develops industry-leading intellectual property, and builds a broad portfolio of high value-added products.

View full press release: https://bit.ly/2w59Pmp

 

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