Cannabis and Hemp Industry Investment News

1933 Industries Inc () () said Tuesday that it has appointed experienced finance industry professional Tricia Kaelin as the company’s new chief financial officer.

The Vancouver-based vertically-integrated cannabis company said that as a “CPA with extensive CFO experience” across a variety of industries - including cannabis - Kaelin has joined the management team to help guide profitable growth.

The company thanked former CFO Stephen Radusch for his contributions.

READ: 1933 Industries expects “prudent financial measures” to lay the ground for growth in 2020 as it posts fiscal 3Q numbers

BevCanna Enterprises Inc () () announced Tuesday that it has entered into a non-binding letter of intent (LOI) to manufacture white-label CBD wellness beverages for influential US health and beauty brand Marianna Naturals Corp.

Under the proposed definitive agreement in the LOI, BevCanna said it will become the exclusive Canadian manufacturing and distribution partner for Marianna's new line of CBD-based wellness beverages. 

BevCanna will leverage its extensive experience in developing and launching beverages in the Canadian market to bring the popular brand to Canada, and will maintain responsibility and compliance with Health Canada. 

READ: BevCanna Enterprises completes acquisition of Exceler Holdings

BevCanna will manufacture the beverage line through its pending standard processing license, and the subsequent receipt of its sales license. Marianna will be responsible for national sales and marketing efforts to launch the product line in Canada. The white label agreement will be for an initial term of three years with a subsequent three-year renewal option.

1933 Industries Inc () () CFO Stephen Radusch said that the cannabis company had implemented “prudent financial measures” during the group's fiscal third quarter to deal with the realities of the coronavirus (COVID-19) pandemic and position the company for growth.

In a statement accompanying the latest numbers, Radusch said: "During this challenging period, our main priority has been to implement prudent financial measures that will enable us to weather the uncertain climate brought on by the temporary closure of retail locations where our products are sold.”

He added: “We have reduced expenses and we are carefully managing our cash position, while maintaining operations amidst the pandemic. Going forward, we will continue to focus on cost controls and additional reductions as we improve efficiencies. We have continued to push the cultivation facility to full capacity, while building inventory for our AMA branded extraction products.”

READ: 1933 Industries debuts hemp version of its Canna Hemp product line

BevCanna Enterprises Inc () () said Monday that it has completed the acquisition of privately owned Exceler Holdings to gain a stronger foothold in Europe and Asia.  

The Vancouver-based cannabis-infused beverages company closed the arm's length sale by giving shareholders in Exceler some 2 million BevCanna shares. The company said it did not pay a finder's fee while making the acquisition.

READ: BevCanna Enterprises strikes deal to acquire Exceler Holdings to access distribution points in Europe and Asia

According to BevCanna, the deal gives it access to Exceler’s multiple distribution points across Europe and Asia ahead of its CBD beverage products launch in the European Union.

1933 Industries Inc (CSE:TGIF) (OTCQX:TGIFF) has announced the launch of a new hemp-specific line of Canna Hemp products made with organic hemp seed oil. 

The suite of wellness products include creams, balms, tinctures, lotions, capsules and more, all formulated with its proprietary TerpFX blend of cannabis terpenes, which mimics the profile of cannabis strains without any of the “high” produced by THC.

"Many of our consumers want hemp-specific products and we have delivered a line that appeals to a wide audience,” 1933 Industries president Gene Ruiz said in a statement. “The Canna Hemp wellness line has grown since its inception in 2016 to become a brand that people can trust because of the effectiveness of each formulation, the safety and quality of our ingredients, and the care we put into developing each and every product."

READ: 1933 Industries names Paul Rosen as interim CEO and Eugene Ruiz as president

Select products from the Canna Hemp line are available online through Amazon, Walmart, eBay, Rakuten, and elsewhere.

BevCanna Enterprises Inc (CSE:BEV) (OTCMKTS:BVNNF) announced Wednesday that it had struck a deal to acquire Exceler Holdings Ltd, giving the infused beverage company a stronger foothold in Europe and Asia.

The Vancouver-based company will acquire all of the issued and outstanding shares of Exceler, an arm’s length private British Columbia corporation, in exchange for two million BevCanna shares.

The agreement gives BevCanna access to Exceler’s multiple distribution points across Europe and Asia ahead of the launch of its CBD beverage products in the European Union.

READ: Mota Ventures inks Letter of Intent to sell BevCanna CBD beverages in Europe

BevCanna said it plans to leverage its existing joint venture with European distributor Mota Ventures Corp (CSE:MOTA) (OTCPINK:PEMTF) to execute the agreement.

1933 Industries Inc (CSE:TGIF) (OTCQX:TGIFF) announced Monday the appointments of Paul Rosen as its interim CEO and Eugene Ruiz as its president to guide the vertically integrated cannabis consumer packaged goods company’s strategic direction into a new phase of development.

In a statement, the company noted that Rosen is a successful entrepreneur and a pioneer in the global cannabis industry, having founded, led and invested in multiple companies over the past decade. 

Rosen co-founded PharmaCan Capital Corp (NASDAQ:CRON) (TSE:CRON) and served as its first president and CEO. He also has held board positions with a number of publicly traded cannabis companies and currently serves as the executive chairman of Global Go, a consultancy focused on the global regulated cannabis industry. 

READ: 1933 Industries seeing progress on reducing production costs and improving margins as it posts 2Q numbers

He is also a significant shareholder in 1933 Industries, as a result of his private placement investment in the company in March 2019.

BevCanna Enterprises Inc () (OTCPINK:BVNNF), a dominant player in the cannabis-infused beverages market, said Friday that it has closed a non-brokered private placement to generate working capital and settled a $84,669.20 debt in exchange for shares.  

As a part of the equity financing, the Vancouver-based firm sold 88,235 common shares at a price of $0.425 per share for gross proceeds of $37,500 to generate general working capital.

Separately, BevCanna also said it has settled debt in the amount of $84,669.20 owed by the company to certain creditors in exchange for 211,673 common shares at a deemed price of $0.40 per debt settlement share.

READ: BevCanna Enterprises set to bring Bloom cannabis products to Canadian customers

BevCanna Enterprises Inc () (OTCPINK:BVNNF) is to bring the US cannabis vape brand Bloom to retailers across Canada.

The cannabis drinks firm has inked a definitive deal with cannabis operator Capna Intellectual Inc, which will see Bevcanna manufacture and sell Bloom branded products, including cannabis concentrates and extracts.

READ: BevCanna inks LOI with Argentia Gold to bring cannabis-infused beverages to Atlantic Canada

The deal covers an initial term of five years, with automatic five year renewal periods, and BevCanna will pay Capna a royalty of 38% of all net profits derived from the products.

"Canadians are eager to see more vape options from trust-worthy retailers, and we're happy to be able to provide that," John Campbell, the chief strategic officer at BevCanna said in a statement.

BevCanna Enterprises Inc () (OTCPINK:BVNNF) has signed a non-binding letter of intent (LOI) with Maritime-based cannabis producer Argentia Gold Corp to exclusively represent its line of cannabis-infused beverages in Newfoundland, Prince Edward Island (PEI) and New Brunswick. 

Under the LOI, BevCanna is expected to provide finished cannabis and cannabis extract products, which Argentia will distribute and sell within the three Canadian provinces. BevCanna will pay a 15% service fee, with a 5% bonus if certain sales milestones are reached.

The companies expect to sign a definitive agreement within the next 45 days.

READ: BevCanna inks exclusive license deal for award-winning Keef Brands infused beverage lines in Canada

There is a big market in the region for cannabis-infused beverages, the company said, noting that the provinces’ consumption rates — nearly 26% in Newfoundland and 21% in PEI — are among the highest in Canada.

BevCanna Enterprises Inc () (), a dominant player in the cannabis-infused beverages market, has inked a licensing agreement with Keef Brands for its infused beverage lines in Canada.

BevCanna said it will act as the exclusive licensee and co-packer for the award-winning Keef lines of beverages. It will leverage its extensive experience in developing and launching beverages in the Canadian market to “maintain compliance with Health Canada,” as well as all related “national sales and distribution efforts,” the company said in a statement.

In addition to BevCanna's role as licensee for Keef in Canada , BevCanna has engaged Keef, through its network of licensed manufacturing partners, to co-pack and distribute BevCanna's cannabis-infused beverage products in the United States. BevCanna will leverage the extensive Keef manufacturing and distribution network, which includes thousands of licensed dispensaries and delivery services across Colorado, California , Arizona , Nevada, Michigan , Oklahoma , and Puerto Rico.

Under the agreement, BevCanna has agreed to invest US$150,000 in Keef Brands by participating in a convertible debenture offering, in multiple tranches.

(NYSEAMERICAN:GORO) generated net revenue of $28 million during its first quarter, the miner said Tuesday. The firm produced a total of 10,142 ounces of gold and 407,625 ounces of silver from its operations in Mexico and Nevada over the first three months of the year and ended the period with $18.4 million in cash and equivalents. The Colorado-based company suspended operations at its Oaxaca Mining Unit in mid-March in light of the ongoing coronavirus pandemic that caused the Mexican government to impose mandatory closures on all businesses deemed non-essential.

Inc (), which is preparing to commercialize its Twirla patch contraceptive, closed out its first quarter of 2020 with nearly $94 million in cash and cash equivalents. In a statement Tuesday, CEO Al Altomari called the quarter that ended March 31 “transformational” for the company. In February Agile achieved a major milestone -- it won US Food and Drug Administration approval of Twirla, a low-dose prescription contraceptive delivered through the skin via the company’s proprietary patch technology. Altomari said New Jersey-based Agile is moving forward -- despite the coronavirus (COVID19) shutdown and health crisis -- with its precommercial activities to bring Twirla to market in the fourth quarter of 2020.

Loop Insights Inc () has launched a contactless digital receipt platform to eliminate the need for exchanging paper receipts during the coronavirus pandemic. The technology allows retailers to send digital receipts via text, email, app or mobile wallet with just one tap on the user’s device. In addition to receipts, Loop’s platform is able to provide personalized promotions and programmatic third-party advertising. That creates potential new revenue through cost per impression and cost per redemption models.

Corp () (OTCPINK:PEMTF) (FSE:1WZ1) revealed Tuesday that it acquired a record-setting 17,996 new customers in April, a 48% jump from the same period a year earlier. In a statement, the e-commerce-focused company said it also saw “strong demand” from customers enrolling in a subscription, totaling 14,091 new subscribers in April. This represented a 78% jump in new subscriber subscriptions, compared to April 2019. The Vancouver-based company's popular Natures Exclusive brand has a CBD hemp-oil derived from hemp grown in the United States. The extraction process is designed to keep all the beneficial qualities of hemp intact. Natures Exclusive offers a range of products, which include CBD oil drops, CBD gummies, CBD pain relief cream, CDB skin serum and CBD coffee.

BevCanna Enterprises Inc () () said it has strengthened its balance sheet and preserved cash amid these uncertain times by settling a debt with the issue of shares.

The firm owed Naturo Group Investments Inc for a strategic advance, which was a debt of C$197,000, and so issued it with 492,750 shares at a deemed price of C$0.40.

Naturo is controlled by Marcello Leone, Bevcanna's chief executive, chairman and a director.

READ: BevCanna Enterprises secures equity and debenture financing to fuel growth 

"Repaying the strategic advance through equity represents a good opportunity to strengthen our balance sheet and preserve liquidity during these uncertain times," John Campbell, the finance chief at Bevcanna said in a statement.

BevCanna Enterprises Inc () (OTCMKTS:BVNNF), a cannabis-infused beverages maker, said Tuesday that it has closed a non-brokered private placement raising $300,000, while also winding up the first tranche of a non-brokered financing of secured convertible debentures for gross proceeds of $630,000.

In a statement, BevCanna CFO John Campbell said the company was “very pleased” with the confidence that investors had shown in the company, especially during these “uncertain” economic times.

"We are also very appreciative of the ongoing support and signaled confidence from our vendors and partners who have directly participated in securing our additional financing in a cost-effective manner, through the direct use of debt for equity settlements,” he added.

READ: BevCanna Enterprises set to launch new CBD-infused drink with health benefits

BevCanna Enterprises Inc () (OTCMKTS:BVNNF) has revealed it is set to bring a new CBD-infused immune-supporting drink to the US and Canadian markets.

The beverage will be launched under the firm's health and wellness brand Lev and is expected to be in 60ml and 250ml sizes.

READ: BevCanna rolls out cannabis-infused beverage powder brand Jase for California market

It will be based on the popular Trace beverage, a non-CBD version, which is already approved by Health Canada.

BevCanna has the rights to develop this formulation due to its exclusive license agreement with Naturo Group.

BevCanna Enterprises Inc (CSE:BEV) (OTCMKTS:BVNNF) announced Monday the debut of its cannabis-infused beverage powder brand Jase.

Created with a pomegranate lemonade flavour, Jase will be available for sale in licensed dispensaries in California this year. Jase will be offered in a ready-to-mix single-serve powder, infused with 10 milligrams (mg) of THC, and available in a 10-pouch box.

The Jase brand distinctly evokes "California Cool" - the endless summer sun combined with a vibrant hedonism. Coined from "ganja," the Sanskrit word for hemp or cannabis, and the word "base," Jase suggests a brand that is approachable, upbeat and bold.

READ: BevCanna to partner with rising California cannabis beverage brand Calexo

"When conducting our North-America wide consumer study, it was quickly apparent that lemonade was seen as one of most popular flavours," said John Campbell, BevCanna’s chief strategy officer, in a statement. 

"We were inspired by the idea of creating a vibrant, bold lemonade beverage that consumers could enjoy on sociable occasions, and we liked the idea of it being easily portable. Consumers can add the powder to their choice of still or sparking waters to create a personalized experience."

1933 Industries Inc () (OTCQX:TGIFF), the cannabis goods company, said its expectations for strong revenue growth and profitability for fiscal 2021 remain on track as it posted its second-quarter numbers for 2020.

In the three months to January 31, the firm revealed it reached a number of key milestones including achieving the first harvest from its new facility in Nevada and expanding cultivation and manufacturing at the California operation under a deal with Green Spectrum Trading.

It also debuted its subsidiary AMA brand of THC concentrates and those of licensing partner Blonde into the California market.

READ: 1933 Industries marks the beginning of continuous cultivation in Nevada with second cannabis harvest underway

The quarter saw lower than expected revenue due to reduced sales for its cultivation arm as the group transitioned from the old facility to the new one and a slower than expected recovery of vape and distillate sales.

1933 Industries Inc () (OTCQX:TGIFF), a vertically-integrated cannabis consumer goods company, said on Monday that it has begun its second cannabis harvest from its cutivation facility in Las Vegas, Nevada.

In a statement, the Canadian company pointed out this marked the beginning of "continuous harvests" in Nevada as it swung into full production.

READ: 1933 Industries remains operational in Nevada as non-essential businesses ordered closed amid coronavirus

"This is an important milestone for our company ... We have spent several months optimizing the new Las Vegas facility, enhancing our genetics programme to develop varieties of strains and cultivars to meet the demands of our consumers and we are pleased with our progress to date,” said 1933 Industries CEO Chris Rebentisch.

“With the surge in demand during the (coronavirus) COVID-19 pandemic, we are working closely with the dispensaries and responding to our clients' needs,” he added.