Cannabis and Hemp Industry Investment News
The new programs come on the heels of a recently-closed oversubscribed financing worth US$11 million
Lexaria Bioscience Corp (NASDAQ:LEXX) () announced a pair of R&D programs Monday focused on DehydraTECH utilizing CBD for hypertension and antivirals to treat COVID-19.
The new programs come on the heels of a recently-closed oversubscribed financing worth US$11 million, which the company said has greatly enhanced its ability to conduct applied R&D designed to test the effectiveness of its patented DehydraTECH drug delivery technology across multiple classes of bioactive substances or drugs.
Lexaria’s prospective business partners expect evidence that demonstrates initial effectiveness of DehydraTECH in improving drug delivery characteristics prior to entering negotiations, the company said. As such, the company considers R&D studies to be a vital early step in establishing relationships with industry partners to utilize DehydraTECH in their product lines.
READ: Lexaria Bioscience bolsters board of directors with Al Reese Jr
Canntab Therapeutics Limited (CSE:PILL.CN) (OTCQB:CTABF) announced Monday it has received a patent covering its proprietary cannabidiol formulations in Canada.
The patent, which has a priority date of January 23, 2017, expires in January 2038.
Toronto-based Canntab develops hard pill cannabinoid formulations in multiple doses and timed-release combinations. The company told shareholders it believes hard pill formulations are superior to other standard CBD and THC delivery systems as they allow for customizable and precise dosing.
READ: Canntab Therapeutics closes C$1.575 million non-brokered private placement of convertible debentures
Canntab now has patent protection in Canada and the US, according to Canntab’s legal counsel Gavin Bogle of the law firm Magyar, Bogle & O'Hara LLP.
“The allowance of Canntab's patent by the Canadian Intellectual Property Office provides fundamental intellectual protection for Canntab's innovative tableting technology and validates the years of research and development the company has conducted,” Bogle said in a statement.
Australis said the greenhouse facility is expected to save up to 90% on water use and 90% on labour compared to a traditional farm
() () (FRA:AC4) reported that ALPS, a company in which Australis is in the process of acquiring, has entered into an agreement with Bluehouse Greenhouse (BHGH) for the development of a 62 acre (2.7 million square foot), high-tech, fully integrated greenhouse for the sustainable production of vegetables in California.
Australis said the greenhouse facility, which will be developed by ALPS’ wholly-owned subsidiary Larssen Greenhouse Consulting (LGC), is expected to save up to 90% on water use and 90% on labour while growing 48 million pounds of produce on a footprint 1/30th the size of a traditional farm.
“With this sizeable $1.9 million project, ALPS continues to capitalize on opportunities and grow revenues at a rapid pace,” AUSA Interim CEO Dr. Duke Fu said in a statement.
READ: Australis Capital unveils significant expansion moves with plans to acquire both Green Therapeutics and ALPS
He added: “Conversion of ALPS's substantial business development pipeline in both the cannabis and traditional horticulture sectors will provide AUSA, once the acquisition is completed, with cash flow to further fuel the execution of its capital-light expansion strategy.”
Heritage said with these orders, it now has three brands available in Ontario, including the company’s newly-acquired Premium 5 brand
Heritage Cannabis Holdings Corp () () (FRA:2UE) reported that it has received the first order from the Ontario Cannabis Store (OCS) for the company’s Purefarma and Pura Vida branded products.
Heritage Cannabis said that with these orders, it now has three brands available in Ontario, including the company’s newly-acquired Premium 5 brand that been available at the OCS since early December 2020.
“This initial order from Ontario will bring Heritage’s award-winning Purefarma and Pura Vida full-spectrum products to consumers in the province, expanding our brand exposure across the country. They join the very popular Premium 5 branded products in the fastest expanding market in Canada,” Heritage Cannabis Holdings CEO Clint Sharples said in a statement.
He added: “As we have experienced in other provinces where these products are available, we expect our tinctures to be in high demand.”
CEO Iris Bincovich: 'The exercise of the warrants indicates that investors are confident in InnoCan Pharma'
Corporation () (FSE:IP4) (OTCMKTS:INNPF) announced Thursday that since December 1, 2020, it has received proceeds of about C$1.8M from the exercise of 7.6 million previously issued common share purchase warrants and broker warrants.
"The exercise of the warrants indicates that investors are confident in InnoCan Pharma,” said CEO Iris Bincovich in a statement.
Bincovich added: "Following our important milestones since our IPO in September 2019, and alongside the proceeds received, we have the financial strength allowing us to bring our Derma product line to the market, and to accelerate our CLX and LPT proprietary programs with the Tel Avi and the Hebrew University."
READ: InnoCan Pharma reveals successful production of CBD-loaded liposomes under aseptic conditions
In addition, following the unexpected rise in sales on Shir Beauty's e-commerce platform, www.shirbeauty.com, InnoCan Pharma announced the full return of the website -- after the restock of products.
Lexaria Bioscience Corp () () is a Canadian company with a patented technology that promises to change the way drugs are delivered into the body.
The Kelowna, British Columbia-based company has developed and markets DehydraTECH, which masks unwanted tastes, improves onset speed and increases the bioavailability of active pharmaceutical ingredients in a simple and cost-effective platform.
In 2013, Lexaria’s management decided to pivot from oil to cannabis and within a year had acquired the rights to DeydraTECH, which is now the company’s main focus.
Essentially, DehydraTECH allows cannabidiol (CBD) and other oils to be dehydrated into an odourless, tasteless powder and mixed with xanthan gum, cornflour and other base ingredients which can then be added to foods, drinks and creams.
It also allows drugs and vitamins – in the case of cannabis, CBD – to enter the bloodstream faster than existing drug delivery platforms.
The company is working with additional provincial boards to register products and increase the distribution capabilities for its branded products.
() () (FRA:2P9) investee Embark Health Inc has successfully completed its first shipment of products to the British Columbia Liquor Distribution Branch.
Its Hank Co. Bubble Hash is now available across British Columbia and Embark Health anticipates further purchase orders imminently with the province of Alberta.
The company is working with additional provincial boards to register products and increase the distribution capabilities for its branded products.
Product on shelves in weeks
Embark chief executive officer Dr. Luc C. Duchesne said: “The Embark team has worked tirelessly to move from a definitive agreement to product on shelves in a matter of weeks.
The agreement for the 363,000 square foot facility includes the installation of a computerized compliance and maintenance management system, APIS
() () (FRA:AC4) announced Tuesday its acquisition target ALPS inked an agreement with Cann Group Limited to deliver end-to-end design, construction and commissioning services for the latter’s planned Australian greenhouse.
The $2.5 million agreement for the 363,000 square foot facility includes the installation of a computerized compliance and maintenance management system, APIS, and an ongoing service contract, the company said in a statement.
ALPS is a leading design, construction management, commissioning and post commissioning consultancy company for horticultural crops. The company has been involved in cannabis projects across the globe with a total grow area in excess of 340 acres for a total cultivation capacity of around 2,000,000 kilograms of cannabis per year.
READ: Australis Capital unveils significant expansion moves with plans to acquire both Green Therapeutics and ALPS
"This is a significant contract for us in terms of size, and acknowledges the respect ALPS has garnered in the global cannabis space,” ALPS president Thomas Larssen said in a statement accompanying the news.
Heritage expects the combined company to be a market leader in the extract and extract derivatives market
Heritage Cannabis Holdings Corp () () (FRA:2UE) reported that it has completed its previously-announced acquisition of Canadian recreational and medical cannabis company Premium 5 Ltd.
Heritage Cannabis said the combined company is expected to be a market leader in the extract and extract derivatives market, as Premium 5 is a premium provider of Cannabis 2.0 hydrocarbon and solventless concentrates in Canada.
“This transaction delivers on several critical strategic objectives, including immediate coast to coast sales and an impressive catalog of products for both the provincial boards and consumers across Canada,” Heritage Cannabis CEO Clint Sharples said in a statement.
READ: Heritage Cannabis buys full spectrum cannabis concentrate producer Premium 5 for C$21M in stock
He added: “We continue to build out our strong product development pipeline catering to multiple consumer categories and price points, and the addition of Premium 5 will expand our reach and accelerate the growth of our domestic and international platform.”
Innocan Pharma (CSE: INNO- OTC: INNPF) CEO Iris Bincovich joined Steve Darling from Proactive with news the company has hit a major milestone in the development of CLX Therapy which holds the potential to provide a highly synergistic effect of anti-inflammatory properties and help in the recovery of infected lung cells.
Bincovich telling Proactive they have been able to successfully complete a large-scale production of exosomes. The company is still in the development stage of the CLX platform but this step shows part of the path to commercialization.
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It will also relocate its corporate headquarters to Pennsylvania from Puerto Rico
GSRX Industries Inc (OTCPINK:GSRX) announced Friday that its board of directors has approved a rebranding of its corporate identity.
In addition, the company said it is opening a new business vertical in the restaurant industry, focusing on the growing opportunities in underserved markets and will relocate its corporate headquarters to Pennsylvania from Puerto Rico.
"The rebranding of the GSRX corporate identity is part of the company's ongoing strategy to evolve its business and create a foundation for new opportunities," said Interim CEO Troy Nihart in a statement.
"The company will be entering the restaurant industry in underserved rural markets with a beginning focus on delivery, drive-up, and curbside provisions. There is a huge demand for these services due to the disruptive COVID-19 pandemic in rural markets,” Nihart said.
It touted the development as a key "milestone” in the production of CBD-loaded liposomes, as it now permits animal studies and at a later date, human clinical studies ─ both of which bring the product closer to market
Corporation () (OTCMKTS:INNPF) (FRA:IP4) said Friday that it would carry out a successful manufacturing demonstration of its liposome platform technology (LPT) to produce CBD-loaded liposomes under aseptic conditions with the Hebrew University, in Jerusalem.
The company touted the development as an “important milestone” in the production of CBD-loaded liposomes, as it now permits animal studies and at a later date, human clinical studies ─ both of which bring the product closer to market.
“This achievement supports studies on small and large animals, examining the therapeutic efficacy of Innocan's CBD-loaded LPT in relevant diseases,” said the company. Previous studies demonstrated the prolonged release of cannabidiol into the blood of mice and rats for at least three weeks after a single injection.
READ: InnoCan Pharma unveils its new user-friendly commercial website
The previous study led by Dr Ahuva Cern, a senior researcher in Professor Barenholz’s lab at the Hebrew University found significant amounts of CBD in the blood and muscles of mice up to 21 days after a single intramuscular injection of CBD using LPT. The same findings were also seen in rats, pointed out the company.
Embark Health is continuing its focus on selling direct-to-consumer branded products through the provincial boards in addition to manufacturing activities.
() () (FRA:2P9) investee Embark Health Inc has ended the 2020 year with a processing licence as well as a sales licence to sell edibles, extracts and topicals from Health Canada.
This comes after beginning 2020 as a pre-revenue applicant to Health Canada.
Embark continues its focus on selling its direct-to-consumer branded products through the provincial boards in addition to contract manufacturing activities.
In 2021, the company aims to deliver its strategic development priorities, with contract manufacturing services having proceeded to scale throughout Q3 and Q4 2020.
Heritage Cannabis (CSE: CANN- OTCQX: HERTF) CEO Clint Sharples and President, Medical Division Umar Syed joined Steve Darling from Proactive to share news the company has signed a 3-year extraction supply deal with Entourage Phytolab S.A. for the distribution of pharmaceutical products in Brazil.
Sharples telling Proactive more about the details of this deal while Syed talks about the further expansion of their full-spectrum, high-quality extractions and medical softgel capsules.
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FLEX 10 is ImmunoFlex's unique N-Acetyl-L-cysteine formulation in packs of 30-600 mg capsules
Chemistree Technology Inc (CSE:CHM) (OTCMKST:CHMJF) says investee company ImmunoFlex, a life sciences company developing clinically validated, pharmaceutical-grade natural health products based on advancements in genomics research, has received approval for its Flex 10 product from Health Canada.
"At ImmunoFlex, we work with the immune system to strengthen, support, and enhance our body's natural surveillance and response system," said ImmunoFlex CEO Chris Wagner in a statement.
READ: Chemistree to unveil virtual reality tour of Washington State cannabis facility at industry expo
"FLEX 10 is the first product in our line up of products designed to achieve this goal so we could not be more delighted with the Health Canada approval," Wagner noted.
Chemistree President Karl Kottmeier added: "This is great news. We view the approval from Health Canada as a significant milestone for Immunoflex and look forward to announcing further advancements for this and their other products."
Australis Capital's pending acquisitions of Green Therapeutics LLC and ALPS is part of its shift from an investment company into a US multi-state operator
Australis Capital Inc (CSE:AUSA) (OTCMKTS:AUSAF) (FRA:AC4) provided an operations update on its pending acquisitions of Green Therapeutics LLC and ALPS, as part of its shift from an investment company into a US multi-state operator (MSO).
Australis said Green Therapeutics (GT) saw a record 47% year-over-year increase in December sales, and recently reached an agreement to sell its land in North Las Vegas, which would result in AUSA receiving approximately US$1.95 million if the transaction is completed.
Meanwhile ALPS, through its wholly-owned subsidiary Larssen Greenhouse Consulting (LGC), has executed a number of contracts for the development of facilities for the cultivation of high-quality, low-cost crops such as fruits, vegetables and microgreens.
READ: Australis Capital unveils significant expansion moves with plans to acquire both Green Therapeutics and ALPS
“The new board is rapidly changing AUSA from an ‘investment’ company into a multi-state operator with expected meaningful revenue growth, resulting in profitable operations,” Australis Capital CEO designate Terry Booth said in a statement.
The company expects to use the net proceeds from the offering for the further development and expansion of its business and for working capital and general corporate purposes
Namaste Technologies Inc. (CVE:N), a leading platform for cannabis products, accessories, and education announced that it has closed its previously announced "bought deal" public offering for total gross proceeds of $23,023,000.
The group said it sold 65,780,000 units of the company at a price of C$0.35 per unit under the offering, including 8,580,000 units sold under the exercise in full of the underwriters' over-allotment option.
The company expects to use the net proceeds from the offering for the further development and expansion of its business and for working capital and general corporate purposes.
READ: Namaste Technologies bolsters working capital with amended C$20M bought deal financing
Each unit in the offering consists of one common share and one common share purchase warrant. Each warrant entitles the holder to acquire one common share at an exercise price of C$0.47 each until January 19, 2024.
It will supply Entourage Phytolab with hemp-derived CBD dominant extract, cannabis-derived THC dominant extract, and hemp-derived CBD softgels, and cannabis-derived THC softgels
() () (FRA:2UE) announced Tuesday that its subsidiary CannaCure Corp has entered into a binding letter of intent with Entourage Participações SA for a three-year extraction and finished product supply agreement for the distribution of pharmaceutical products in Brazil.
Under the terms of the agreement, Heritage said it will supply to Entourage Phytolab, hemp-derived CBD dominant extract, cannabis-derived THC dominant extract, and hemp-derived CBD 25 milligram (mg) softgels and cannabis-derived THC dominant 2.5 and 5.0 mg softgels.
CannaCure will provide cannabis and hemp products to be used strictly for pharmaceutical products that comply with regulations issued by the Brazil Health Authority (Anvisa), which include GMP certification and GMP compliant products. CannaCure is currently in the process of obtaining GMP certification.
READ: Heritage Cannabis announces the launch of Premium 5’s new brand RAD
CannaCure also will supply initial products for Entourage Phytolab’s formulation and research and development purposes by February 2021, with commercial orders to be delivered following CannaCure receiving EU GMP certification estimated in the latter half of 2021. CannaCure and Entourage Phytolab also have established minimum order quantities.
Australis Capital (CSE: AUSA- OTC: AUSAF) new CEO Terry Booth joined Steve Darling from Proactive with news the company is planning to utilize a new strategy for the company as they look to capitalize on a number of opportunities.
Booth shared with Proactive what that strategy will be and how he plans on measuring performance and making sure they are accountable to shareholders.
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Reese has over 40 years' experience in public and private businesses and was finance chief at a former Nasdaq-listed energy company
Lexaria Bioscience Corp (NASDAQ:LEXX) (NASDAQ:LEXXW) () has bolstered its board with the addition of Al Reese Jr.
Certified accountant Reese has over 40 years' experience in public and private businesses and was finance chief at a former Nasdaq-listed energy company, where he arranged transactions totaling more than US$10 billion over two decades.
READ: Lexaria Bioscience prices $9.6M public offering as shares set to begin trading on the Nasdaq
"Al is also experienced in negotiating technology license agreements with companies in the US and internationally, and the board of directors looks forward to his guidance as Lexaria continues to evolve and pursue its strategic out-licensing business model," said Chris Bunka, CEO and chairman, at Lexaria.
Reese added in the statement: "I’ve been familiar with Lexaria since inception and have seen this team’s determination to develop and commercialize the DehydraTECH TM technology.
