Aurora Cannabis Inc. (“Aurora” or the “Company”) (TSX: ACB) (OTCQB: ACBFF) (Frankfurt: 21P; WKN: A1C4WM) and Anandia Laboratories Inc. (“Anandia“) announced today that they have signed a binding term sheet whereby Aurora intends to acquire all of the issued and outstanding common shares of privately-held Anandia in an all share transaction valued at approximately $115 million on a fully diluted basis (the “Transaction”).
Led by CEO and co-founder Jonathan Page, PhD, one of the industry’s most widely recognized cannabis experts, Anandia is considered the industry leader in science, genetics, and independent cannabis product testing. Dr. Page was the first scientist to sequence the cannabis genome and provide deep insights into the biosynthesis of cannabinoids and the interplay between cannabinoids and terpenes.
Anandia’s COO and co-founder, John Coleman, PhD, brings over 20 years of experience in drug research and commercialization as a natural product chemist. He previously worked in the biotech industry, most recently leading the team identifying new drug targets for the federally funded Centre for Drug Research and Development.
Anandia’s intellectual property (“IP”) includes the exclusive rights to a number of key genes in the cannabinoid pathway, as well as patents pending for genetic markers. The strength of Anandia’s expert staff, proprietary assets and know-how will provide Aurora with a very significant advantage in developing new cannabis cultivars. For instance, genome-based variety development and technological fortification can tailor metabolite (cannabinoid and terpene) profiles, improve disease resistance, enhance crop yield and optimize flowering time, and can be employed to develop specialized cultivars for oil production.
Full press release: https://bit.ly/2sUPQpQ
Canopy Growth Corporation (“Canopy Growth” or the “Company”) (TSX: WEED) (NYSE: CGC) and its subsidiary, Bedrocan Canada Inc. (“BC”) are pleased to announce that they have reached an agreement (the “Agreement”) with Bedrocan International BV (“BI”) (together, the “Parties”) to bring the Parties’ licensing arrangement to a close. As part of the Agreement, BC and BI will discontinue the previously announced arbitration proceedings.
Under the terms of the Agreement, BC will decrease and then end the production and sale of Bedrocan products within the calendar year. Canopy Growth will retain the licensed production facility, licensed sales facility, and all associated licenses owned and operated by BC. Management will redeploy these facilities, free of the current royalty structure and fixed production practices, to develop new premium branded cannabis offerings.
Also Parties agreed to a moratorium with immediate effect, that will allow BI to re-commence business in the Canadian market from January 1, 2020 and the South American market from June 7, 2019.
Full press release: https://bit.ly/2JEu6ZO
The Green Organic Dutchman Holdings Ltd. (the “Company” or “TGOD”) (TSX:TGOD) (US:TGODF) is pleased to announce that, effective June 8th, its wholly-owned subsidiary, Medican Organic Inc. has received its Cultivation License from Health Canada for the Company’s breeding facility in Salaberry-de-Valleyfield, Quebec (“Valleyfield”). The commissioning of this facility will allow the Company to create proprietary, organically grown strains of cannabis and cannabis seeds.
Located on a 72-acre property, the breeding building will house the cultivation of cannabis and the production of seeds and new strains. This building marks TGOD’s first facility in Valleyfield, which will be followed by the addition of TGOD’s flagship 820,000 square foot state-of-the-art hybrid grow facility, which, when complete, will bring TGOD’s domestic production to 116,000 kgs of high-quality, premium organic cannabis annually. Construction of TGOD’s hybrid facility commenced in early 2018, and to date, site-clearing and earthworks have been completed. To view progress, please visit: https://tgod.ca/.
The history and cultivation of cannabis as a crop has resulted in significant limitations on the research of the plant and its development as an agricultural crop. With the changing regulatory landscape, there is a dramatic need to improve current agronomic traits in the different cannabis strains available to and in the possession of Licensed Producers.
Full press release: https://bit.ly/2t6eVgR
Isodiol InternationalInc. (CSE: ISOL) (OTC: ISOLF) (FSE: LB6A.F) (the “Company” or “Isodiol”), a global CBD innovator specializing in hemp based health and wellness products, the development of pharmaceutical CBD delivery methods and the manufacturing of a pure, natural CBD as an Active Pharmaceutical Ingredient (API) for use in finished pharmaceutical products (FPPs), is pleased to announce that it has entered into a binding agreement to acquire 51% of Round Mountain Technologies, LLC (“RMT”), a cultivator of organic hemp with operations in Nevada.
RMT holds a license from the State of Nevada to cultivate organic hemp in Nye County. The property consists of approximately 155 acres, of which RMT and Isodiol intend to plant 70 acres within the coming weeks, initially. RMT and Isodiol will contribute to Nevada’s local economy by ensuring that all hemp harvested by RMT will be processed within the State of Nevada.
Under the terms of the agreement, Isodiol will commit funding of US$400,000 in cash to RMT for working capital and general obligations and issue US$250,000 in Isodiol stock based on the May 22, 2018 closing price, subject to 36-month lock-up/leak-out guidelines, in exchange for the 51% RMT ownership interest.
“This transaction is another significant milestone in Isodiol’s storied path to success,” said Marcos Agramont, CEO of Isodiol. Mr. Agramont continued, stating, “We are pleased to be working with RMT and increasing our US organic hemp biomass supply for CBD production.”
Full press release: https://bit.ly/2LQvPb5
InMed Pharmaceuticals Inc. (TSX:IN) (“InMed” or the “Company”) is pleased to announce that it has entered into an amended letter of engagement with Eight Capital, under which Eight Capital has now agreed to purchase, as underwriter, 14,444,560 units of the Company (the “Units”), on a “bought deal” basis pursuant to the filing of a shelf prospectus supplement, subject to all required regulatory approvals, at a price per Unit of $0.90 (the “Offering Price”), for total gross proceeds of $13,000,104 (the “Offering”).
Each Unit shall consist of one common share of the Company (a “Share”) and one common share purchase warrant (a “Warrant”). Each Warrant shall entitle the holder thereof to acquire one Share at a price of $1.25 for a period of 24 months following the Closing Date.
The Company has agreed to grant Eight Capital an over-allotment option to purchase up to an additional 2,166,680 Units at the Offering Price, exercisable in whole or in part, at any time on or prior to the date that is 30 days following the closing of the Offering. If this option is exercised in full, an additional $1,950,012 will be raised pursuant to the Offering and the aggregate proceeds of the Offering will be $14,950,116.
The Company intends to use the net proceeds of the Offering to support the continued research and development of INM-750 for the treatment of Epidermolysis Bullosa, to further develop the Company’s other research and development programs including its biosynthesis assets, for general and administrative expenses of the Company, and to fund working capital.
Full press release: https://bit.ly/2JMrMvP
Terra Tech Corp. (OTCQX: TRTC), a vertically integrated cannabis-focused agriculture company, today announced that the June 7 presentation from Derek Peterson, Chief Executive Officer, is now available for on-demand viewing at VirtualInvestorConferences.com.
Terra Tech Corp.’s presentation will be available 24/7 for 90 days. Investors and advisors may download shareholder materials from the “virtual trade booth” for the next three weeks.
Recent Company Highlights
- Total revenues generated for the quarter ended March 31, 2018 were approximately $8.6 million, an increase of 26% from $6.8 million in the same period in 2017.
- In California, the Company commenced sales to the adult-use market in January 2018 through its Oakland and Santa Ana dispensaries. The Company is also constructing a dispensary and extraction facility in San Leandro.
- In Nevada, the Company completed construction of its cultivation and extraction facilities in Sparks and Reno, which are expected to enable it to scale production of its IVXX products for Nevada’s consumer market. In June, it commenced cultivation at its new Sparks facility, following approval from the State of Nevada.
Full press release: https://bit.ly/2HJPkzj
KUSH BOTTLES, INC. (OTCQB: KSHB) (“Kush Bottles” or the “Company”), a leading provider of packaging, supplies, vaporizers, hydrocarbon gases, solvents, accessories and branding solutions for the regulated cannabis industry, today announced it closed a registered direct offering of 7,500,000 shares of common stock and warrants to purchase 3,750,000 shares of common stock with a combined purchase price of $4.80 per share. The warrants have an exercise price of $5.28 per share, are immediately exercisable and will expire five years from the date of issuance. The gross proceeds of the offering are approximately $36,000,000 before deducting placement agent fees and other estimated offering expenses. The Company intends to use the net proceeds for general corporate purposes, including, among other things, working capital, product development, acquisitions, capital expenditures, and other business opportunities.
A.G.P./Alliance Global Partners acted as the sole placement agent for the offering.
Kush Bottles’ Chief Executive Officer, Nick Kovacevich, commented, “Kush Bottles has proven its ability to identify and monetize lucrative areas of the cannabis market. In doing so, Kush has established itself as the largest ancillary product provider to the industry, as demonstrated by its significant growth and the widespread adoption of its products. We believe this capital injection gives us additional resources to expand quickly into new markets, innovate rapidly, make strategic acquisitions and broaden our diversified suite of ancillary products and services for the global cannabis industry. We are pleased to secure this investment from institutional investors that share our vision for Kush Bottles and the cannabis industry.”
Full press release: https://bit.ly/2ybyKZM
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