Cannabis and Hemp Industry Investment News

BevCanna Enterprises Inc () (OTCMKTS:BVNNF), a manufacturer of cannabis-infused beverages, announced Tuesday that it has launched a set of strategic objectives that will guide the company through 2020 and beyond. 

Headquartered in Vancouver, Canada, with operations near Osoyoos, in the Southern Okanagan region of British Columbia, and in Sacramento California, BevCanna is a white-label manufacturer of cannabis-infused beverages, vertically integrated from outdoor cultivation to finished cannabis products.

In a statement, John Campbell, chief strategy officer with BevCanna, described 2020 as the “year of execution” for the company.

READ: BevCanna doubles size of manufacturing facility, prepares for full-scale commercialization in 2020

"We've built a solid foundation across businesses and we are now ready to turn the corner to begin commercializing our operations and generating substantial revenue," said Campbell.

BevCanna Enterprises Inc () (OTCMKTS:BVNNF), a manufacturer of cannabis-infused beverages, revealed Thursday, that it is significantly expanding its manufacturing facility, in anticipation of receiving its standard processing license and initiating full-scale commercialization this year. 

The Vancouver-headquartered company pointed out that after a second amended agreement on February 14, its current 5,235-square foot cannabis production premise has doubled to 10,378 square feet. 

Investors sent the beverage company's shares rocketing 10.7% higher in Canada at just over C$0.46 and 11.7% over the counter at nearly US$0.40 in Tuesday afternoon trading.

READ: Mota Ventures and BevCanna Enterprises finalize joint venture to sell CBD products in Europe

John Campbell, who is the chief strategy officer at BevCanna, described the expansion as an “exciting step” for the company.

1933 Industries Inc () (OTCMKTS:TGIFF) said Friday that its first harvest of commercial cannabis from California is underway and it has also started distributing California-compliant full spectrum Canna Hemp products to dispensaries in the Golden State.

In a statement, the company said the harvest marks the California debut of AMA and Blonde cannabis products.

Following the news, shares rose 12% to C$0.19 apiece in Canada and 10% to US$0.14 in New York. 

1993 Industries, based in Chilliwack, British Columbia, has a 20,000-square feet cultivation, extraction, manufacturing and distribution facility in the Los Angeles area, and has harvested its first cannabis crop this week. The harvest will go into its Alternative Medicine Association (AMA) brand, as well as its licensing partner, luxury brand Blonde cannabis, with products earmarked for dispensaries for the first time outside Nevada.

BevCanna Enterprises Inc () (OTCMKTS:BVNNF),  a manufacturer of cannabis-infused beverages, revealed Thursday, that it has expanded its previously signed agreement with leading cannabis cultivator Clearwater Canngrow Ltd. 

BevCanna and Clearwater have struck an amendment agreement dated February 12 to the consultant agreement they signed on September 16, 2019. Under the new pact, Joey Bedard-Brunet, the principal of Clearwater, has agreed to become a director at BevCanna. 

"The exclusive agreement with Clearwater CannGrow will assist BevCanna to more than double its potential cannabis biomass output," said John Campbell, who is the chief strategy officer at BevCanna. 

READ: BevCanna's new cannabis-infused beverages make a splash at the Lift & Co cannabis expo

"At the same time, we will recoup our original capital expenditures and eliminate all future cash outlays for farm related capital expenditures and operating costs," he added. 

BevCanna Enterprises Inc () (OTCMKTS:BVNNF) and Nextleaf Solutions Ltd () (OTCMKTS:OILFF) announced Tuesday that the two companies will work together to deploy nano-delivery technology in a new line of CBD-infused beverages. 

The two Canadian companies announced a partnership back in September to work together to commercialize BevCanna’s line of infused beverages using Nextleaf’s technology. 

Nextleaf recently completed its acquisition of the intellectual property pertaining to the nano-delivery of cannabinoids, giving it the foundational processing methodology and two water-soluble formulations.

READ: Nextleaf Solutions and BevCanna Enterprises team up to bring cannabis-infused beverages to consumers

The company said it plans to patent its newly-acquired IP and to partner with BevCanna to develop a new patent family around infused beverages.

Marijuana stocks showed little movement on Thursday as the main indices held steady across North America.

The North American Marijuana Index, which tracks the top cannabis stocks in the US and Canada, lost 0.6% at 105.5 points. Elsewhere, the Horizons Marijuana Life Sciences Index ETF was flat at C$8.89, while the OTCQX Cannabis index decreased by 0.7% to 441 points.

Buds

BevCanna Enterprises Inc () (OTCMKTS:BVNNF) was up on the day after signing a joint venture with Corp () (OTCMKTS:PEMTF) that would allow Mota to market and sell BevCanna's CBD products in Europe.

The companies have signed a letter of intent to negotiate a venture in which BevCanna will contribute its in-house brands and formulations, as well as its proprietary intellectual property for water-soluble powders. Mota, on its part, will arrange manufacturing, marketing and distribution in Europe, with a particular emphasis on Spain, Portugal, Austria, Germany, France and the UK.

 Limited () revealed Friday that it has inked a binding memorandum of understanding with Elegance Spirits Inc to create an integrated alcoholic spirits and cannabis company.

Elegance is a Delaware corporation and beverage company focused on innovating, branding and selling a range of drinks globally.

Lifestyle Global said that following the earlier announced business combination between CannHealth Group Limited and Lifestyle Global, the MoU sets forth the parties' desire to combine businesses through the acquisition by Lifestyle Global of all of Elegance Brands

READ: Lifestyle Global Brands looks to arrange more than $5M non-brokered private placement

“The proposed transaction is expected to create an integrated alcoholic spirits and cannabis company and integrate Elegance's brands with the business of Lifestyle Global and CannHealth, in order to create synergies across manufacturing, distribution and sales,” said the company.

is betting big on cannabis-infused beverage products as it gets ready to launch a line of refreshments in the US this year.

Many investors anticipate CBD-infused beverages to be the next wave of products in the cannabis sector. Look no further than ’ () $4 billion investment into (NYSE:CGC) for proof.

The Los Angeles-based company already has experience in launching alcoholic beverages in Australia and North America and it is about to start selling a range of CBD- and THC-infused products into North America.

The company already has a growing revenue stream from its alcohol line, which is underpinned by global distribution relationships such as Loblaws, Krogers, Total Wine, The Ritz-Carlton and MGM Resorts, to name a few.

Friday Night Inc () has closed its C$5.5mln offering, which will help it expand production capacity in Las Vegas, it said.

The cannabis- focused firm issued convertible debenture units at $1,000 a throw.

Each convertible debenture unit consists of a $1,000 principal amount 10% senior unsecured convertible debenture and 4,000 share purchase warrants.

Chief executive of Friday Night Inc Brayden Sutton said: "This placement allows us to aggressively implement our plans to increase our production capacity in Las Vegas.

Friday Night Inc () has appointed Dr AnthonyTorres, MD, a specialist in the separation sciences of biological molecules, to its board of advisors.

The recreational marijuana producer and distributor said Dr Torres would bring a deep understanding of the cannabis plant and its molecular structure.

“I am very interested in applying traditional laboratory processes to the rapidly developing field of molecular cannabis,” Dr Torres proclaimed. 

“I believe that there are many positive applications for the natural benefits of this plant in modern medicine and that it has the potential to help hundreds of thousands, perhaps even millions of people,” he added.

Friday Night Inc () said its subsidiary, Alternative Medicine Association (AMA) is to start manufacturing and distributing products under the well-known Krypted vaping brand.

With most popular cannabis brands now wanting a presence in the critical Las Vegas market, AMA is attracting new brand-expansion conversations daily, and Krypted is the fourth brand to be added to Nevada-focused AMA's exclusive manufacturing and distribution network.

The Krypted team will be in Las Vegas next week for the kick-off meeting and to prepare for the initial production run, Friday Night revealed.

AMA has already obtained state approval for their logo and product names and the first sales should occur by 15 September.

Terms include making AMA the exclusive manufacturer & distributor in Nevada for an initial term of three years, renewable annually after that, with a 15% production royalty.

Las Vegas focused marijuana group Friday Night Inc () has unveiled its latest tie -up, this time with one of California's most popular weed brands - SuicideGirls Cannabis (SGC).

SuiCideGirls Cannabis was launched in 2017 in California and is sold in around 200 dispensaries in the state.

Notably, SuicideGirls is the largest alternative community on the internet, with over 6.7mln Instagram followers.

A growing Vegas market 

Friday Night is busily trying to tap into a growing market in Las Vegas, known as Sin City, where recreational cannabis became legal on July 1 this year.

Las Vegas - focused cannabis group Friday Night Inc () has updated on the rapid progress of its Nevada- based subsidiary and pot producer Alternative Medicine Association, which is working to keep up with demand for the product.

As previously reported, July 1 this year was a key date in the state's calendar as it became legal for adults over 21 to buy recreational pot in the state.

A monumental week ...

The week from July 17 was 'monumental' for AMA, said Friday Night, as on July 17 it received its cultivation and production licence for recreational sales from the tax department.

A day later, it entered into a distribution agreement with Blackbird Logistics -  one of only two of Nevada's cannabis distributors.

Friday Night Inc () updated on its business, outside cannabis, saying the Bellissima prosecco line is nearing formal aproval in Ontario and therefore the Canadian market.

Friday Night has a minority interest in Bellissima LLC and its flagship Christie Brinkley Bellissima prosecco (sparkling wine) line.

In February this year the drink began distribution in Chicago and throughout the Midwest with the brand's exclusive distributor in Illinois.

In April, the Bellissima prosecco marketing expanded to California, Washington and Hawaii and it is now is rapidly adding retailers across the country.

Friday Night Inc () said it has appointed an industry veteran to its advisory board as it continues to look to expand its Las Vegas operations.

Drew Milburn was a consultant to Heath Canada on the rollout of its new licensed producer model, now called the ACMPR (access to cannabis for medical purposes regulations) as well as a consultant to many licence applicants in Canada.

He opened his first retail dispensary in North Hollywood in 2008 and in 2009 he was successful in obtaining the first licence in the city of Colorado Springs to sell, cultivate and extract cannabis.

He has also been heavily involved in the licensing and operations process in Arizona, and he has left his mark now in  12 of the 29 medicinally legal states in the US.