Marijuana Minute: Weekly News Recap

Tilray Inc. Launches Initial Public Offering

 Tilray Inc.announced that it has launched an initial public offering IPO of its Class 2 common stock pursuant to a registration statement on Form S-1 previously filed with the United States Securities and Exchange Commission. Tilray has applied to list its common stock on the Nasdaq Global Select Market under the ticker symbol “TLRY”. Tilray is offering 9,000,000 shares of Class 2 common stock at an initial price to the public between US$14.00 and US$16.00 per share. Tilray intends to grant the underwriters a 30-day over-allotment option to purchase up to 1,350,000 additional shares.

Invictus MD Expands Cultivation Footprint, Adds New Strains to Portfolio

Invictus MD (TSXV: GENE) (OTCPK: IVITF) announced the purchase of an additional acre of neighboring land adjacent to AB Laboratories Inc. property, dedicated to future expansion opportunities at the facility. The acquisition represents significant progress in AB Labs’ growth strategy which involves building a strong production profile in state-of-the-art cultivation spaces. Construction of the Phase 2 expansion at AB Labs remains on-schedule. Phase 2 facility will increase total cultivation capacity to 56,000 square feet. Currently, AB Labs’ 16,000 square foot Phase 1 facility is operating at full capacity.

Organigram Signs Strategic Supplier Agreement with Hiku Brands

Organigram Holdings Inc. (TSXV: OGI) (OTCQB: OGRMF) announced that it has entered into a letter of intent with Hiku Brands Company Ltd. (CSE: HIKU) (OTCPK: DJACF). As an approved supplier to Manitoba Liquor & Lotteries (MBLL), Organigram will supply Hiku with up to 1,000 kg of premium cannabis products per year for the term of the three-year agreement. Products include both dried cannabis and cannabis oils, which will be sold through designated Tokyo Smoke retail locations in Manitoba.

Aleafia Health Inc. provides update on acquisition of Niagara cannabis cultivation facility

Aleafia Health Inc. (TSXV: ALEF) (OTCQX: ALEAF) provides an update further to the press release dated July 6, 2018, on the acquisition of the 160,000 square foot cultivation facility located in Grimsby, Ontario. Aleafia is pleased to report that the zoning variance required by Aleafia for the Grimsby facility was accepted and passed late Friday afternoon. As previously disclosed, the company expects to close on the transaction in late July, after completion of the 20 day appeal process. 

Nutritional High Announces Definitive Agreement to Acquire Sacramento, California, Cannabis Extraction Facility

Nutritional High International Inc. (CSE: EAT) (OTCQB: SPLIF) announced that it has signed a definitive agreement for the acquisition of Pasa Verde, a commercial scale cannabis oil extraction and edible facility in Sacramento, California.  Pasa Verde produces a number of extract products and will begin producing Nutritional High’s FLÏ™ branded oil and edible products. The acquisition of 100% interest in Pasa Verde is expected to close before the end of July 2018 at a purchase price of US$1.65 million, of which $900,000 is payable in Nutritional High shares. 

Scythian Biosciences Corp Announces Colcanna SAS as one of the Industry’s First to Receive Key Cannabis Licences for the Cultivation, Extraction, Production and Research of Medical Cannabis for the Colombian Local Market and Export to International Markets

Scythian Biosciences Corp. (TSXV: SCYB) (OTCQB: SCCYF) announced that Colombian-based Colcanna SAS, the pending acquisition by Scythian, has received additional licences by the Ministry of Health for the extraction, production and research for the local market and export to international markets of  cannabis derivatives. Colcanna is the only cultivator to receive a licence to cultivate Cannabis in the coveted Colombian coffee zone. 


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