Cannabis and Hemp Industry Investment News

Cannabis Industry Press Releases and News Articles from the best investment journalist in the industry. Stay updated on all cannabis investment news from every online source, on MjInvest.com

Australis Capital teams up with 3 Rivers Biotech to offer plant tissue culture to growers

The two companies will work together to jointly market the 3 Rivers offering to growers and eventually provide access to other commercial-ready solutions in pest control, pathogen testing and genetic fingerprinting

PTC involves growing a plant from a small number of cells, rather than from seeds or clones, under strictly controlled sterile conditions in a nutrient medium

() () (FRA:AC4) is teaming up with agricultural technology company 3 Rivers Biotech Inc on a tissue culture joint venture, the company announced Wednesday. 

3 Rivers specializes in commercial-scale micropropagation, or plant tissue culture (PTC), for cannabis, hemp and traditional crops. 

The two companies will work together to jointly market the 3 Rivers offering to growers and eventually provide access to other commercial-ready solutions in pest control, pathogen testing and genetic fingerprinting. 

READ: Australis Capital buys 51% stake in cannabis facility design/construction company ALPS

Under the terms of the partnership, Australis will own 15% and 3 Rivers will own 85% of the joint venture. 3 Rivers will provide access to its intellectual property and services, products and solutions to Australis-sourced clients through the joint venture.

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Australis Capital looks ahead to "rapid growth" following two transformative acquisitions; ends 3Q with $7.6M cash

The company's 3Q results were impacted by a number of non-cash impairment charges against legacy assets and operations that do not feature heavily in its future trajectory

The firm’s investments in BAMM and Quality Green are up by about $7 million

() () (FRA:AC4) reported its third quarter 2021 results on Monday evening that saw the company end a transformational period with $7.6 million in cash. 

Revenue for the quarter came in at $90,000, consisting of consulting fees from BAMM and technology revenue from its Cocoon business, both legacy businesses that do not feature heavily in the Las Vegas-based company’s future plans. 

In a statement accompanying the results, the cannabis company said it was “positioned for rapid growth” following the closing of two major transactions to acquire cultivation facility construction firm ALPS and Green Therapeutics, a Nevada-based cannabis company. 

READ: Australis Capital buys 51% stake in cannabis facility design/construction company ALPS

Australis plans to leverage an ALPS-driven expansion model to scale up the Green Therapeutics brands throughout the US after both deals close by the end of March.

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MMJ Group says portfolio is 'extremely stable' and primed for growth

's () () (FRA:2P9) Mike Curtis caught up with Proactive's Andrew Scott soon after announcing they recorded a 182% hike in revenues to A$192,000 in the six months to December 31, 2020. Curtis says the portfolio they had last year is extremely stable now and they're starting to see the companies as they come out of the pandemic doing exceptionally well. ''We're a lot more excited than we were last year at this time'', he says.

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MMJ Group’s investment value in Harvest One Cannabis doubles in February

Harvest One develops and distributes premium health, wellness and self-care products with a market focus on sleep, pain and anxiety.

Harvest One’s share price has doubled over the last month.

() () (FRA:2P9) has revealed significant events in the operations of its investee Harvest One Cannabis (HVT:CVE) (OTCMKTS: HRVOF) (FRA:2CN) during February 2021.

These include a major capital raising, the sale of non-core assets and the execution of Asian product distribution agreement.

Importantly, these events have coincided with a 116% increase in the value of MMJ’s investment in HVT during February 2021 which now totals $13.4 million (representing 27% of MMJ’s investment portfolio as at 25 February, 2021).

Since 31 January 2021, HVT’s share price has increased from CAD9.5 cents to CAD19.5 cents as at 25 February 2021.

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MMJ Group sees 182% jump in half-year revenues and narrows losses as it seeks to broaden investments in sectors outside cannabis

The company has received shareholders’ approval to broaden its existing investment mandate to include strategic investments in sectors outside of cannabis.

Cash holdings for the consolidated entity increased by A$2.8 million to A$3.8 million

() () (FRA:2P9) has recorded a 182% hike in revenues from ordinary activities to A$192,000 in the six months to December 31, 2020. 

The global cannabis investment company has also sharply narrowed its losses for the half-year to A$2.186 million from a loss of A$31.131 million in the previous corresponding period.

Cash holdings for the consolidated entity increased by A$2.8 million to A$3.8 million, primarily as a result of the repayment of loan receivables.

Review of operations

There were gains of A$1.596 million from its Southern Cannabis Holdings investment and A$925,000 from its WeedMD investment.

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Australis Capital buys 51% stake in cannabis facility design/construction company ALPS

Since its management buyout from Aurora Cannabis in May 2020, ALPS has built a blue-chip roster of global customers and a growing pipeline of potential new deals

Australis will pay between C$13.7 million and nearly C$26 million in total consideration, the company said

() () (FRA:AC4) has reached a definitive agreement to acquire 51% of the issued and outstanding shares of cannabis facility design company ALPS, the company announced Wednesday. 

Australis will pay between C$13.7 million and nearly C$26 million in total consideration, the company said. Initially, the company will pay C$10 million in either common shares at a price of C$0.20, cash, or a mixture of both. An additional C$2 million will be paid once the deal closes, and a C$1.7 million indemnity holdback to follow after 18 months.  

The agreement also has an option for Australis to acquire the remaining 49% within three years. If sufficient milestone payments are made (the maximum milestone payment is $24 million in three installments if ALPS hits cumulative revenues of C$108.7 million and EBITDA of C$48.9 million), the payments will count in part toward that option.  

READ: Australis Capital says nearing completion of its acquisitions of ALPS and Green Therapeutics

Since its management buyout from Aurora Cannabis in May 2020, ALPS has built a blue-chip roster of global customers and a growing pipeline of potential new deals, the company said. ALPS is currently executing on a number of contracts, including Aurora, Cann Group, Vertical Harvest and Aldershot Greenhouses.

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MMJ Group investee Harvest One enters definitive agreement to sell Satipharm to Cann Group

The transaction is consistent with Harvest One’s strategy to divest non-core assets, streamline operations and utilise strategic manufacturing partners to create efficiencies to support the company’s CPG business model.

Harvest One develops and distributes premium health, wellness and selfcare products with a market focus on sleep, pain, and anxiety.

() (FRA:2P9) () investee Harvest One Cannabis Inc () has entered a definitive sale agreement to sell all issued and outstanding shares of wholly-owned subsidiaries Satipharm Limited, Satipharm AG and Phytotech Therapeutics Ltd to Cann Group Limited (), a diversified medical cannabis company headquartered in Melbourne, Australia.

Cann Group will issue ordinary shares representing total aggregate consideration of around C$4 million, subject to certain adjustments pursuant to the provisions of the agreement.

“Another milestone”

Harvest One president and CEO Gord Davey said: “The agreement to sell Satipharm and its related subsidiaries is another milestone for Harvest One in the successful completion of the company’s strategic review process. ‘

“The company has undergone significant transformative change over the past 12 months and has completed a number of substantial divestitures, which now allow our team to focus on the core business of cannabis-infused CPG product development and distribution.

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MMJ Group Holdings investee WeedMD welcomes Mary's Medicinals Topicals product release in Canada

As the exclusive manufacturer and distributor for Mary’s Medicinals’ suite of products in Canada, WeedMD will launch Mary’s Medicinals Transdermal Compound topical as its first release.

WeedMD is processing Mary’s Medicinals compound in-house at its Aylmer, Ontario-based extraction hub

() (FRA:2P9) () investee () () has welcomed the Canadian launch of acclaimed US-based wellness brand Mary’s Medicinals, which is part of the Mary’s Brands portfolio.

As the exclusive manufacturer and distributor for Mary’s Medicinals’ suite of products in Canada, WeedMD will launch Mary’s Medicinals Transdermal Compound topical as its first release, with expected availability to the company’s Starseed Medicinal patients starting late February.

WeedMD will expand availability starting with Ontario expected in March 2021, to be followed by additional provinces.

The launch will eventually expand to include new product formats, including Mary’s Medicinals transdermal gels and patches, and will become available to both medical and direct-to-consumer markets.

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MMJ Group investee Harvest One continues international expansion through distribution agreement with China-based Golden River Services

Harvest One is a global company that develops and distributes premium cannabis-based health, wellness and self-care products with a market focus on sleep, pain and anxiety.

The cannabis-infused CPG company has subsidiaries - Dream Water Global, LivRelief and Satipharm.

() () investee Harvest One Cannabis Inc () continues its international expansion with the signing of an agreement with leading distributor Golden River Services Ltd, based in China.

Under the distribution agreement, Golden River will sell and distribute Dream Water products throughout China and other Asian countries, including Hong Kong, Macao and Taiwan. 

Golden River is a leading Asian consumer goods distributor representing prominent brands such as Nestle, Brita, Durex and Jamieson with a significant online presence with retail partners such as Taoboa Global Shopping and TMall Global Shopping.

The Chinese company also has retail access through airlines and duty-free shops which aligns with Dream Waters’s existing business in North America.

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MMJ Group eyes strong gains on investments as benchmark ETF surges in January and February

Sales of marijuana concentrates increased 40.5% last year in the adult-use states of California, Colorado, Nevada and Washington as well as the recreational and medical markets in Oregon.

The benchmark Alternative Harvest ETF has surged 115% through January and February.

() stock has remained flat at 12 cents per share over the course of January 2021 compared to a 0.3% rise for the broader market as represented by the ASX 200.

However, the benchmark Alternative Harvest ETF has dramatically risen in January by about 33% from US$14.35 to US$18.97.

Thus far in February the ETF has moved up another 82% and closed at US$34.6 on February 11.

MMJ is witnessing significant follow through on the buying action that now appears to have come “down cap” into many of its investee companies as well.

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MMJ Group eyes significant gains on investments as benchmark ETF surges in January and February

Sales of marijuana concentrates increased 40.5% last year in the adult-use states of California, Colorado, Nevada and Washington as well as the recreational and medical markets in Oregon.

The benchmark Alternative Harvest ETF has surged 115% through January and February.

() stock has remained flat at 12 cents per share over the course of January 2021 compared to a 0.3% rise for the broader market as represented by the ASX 200.

However, the benchmark Alternative Harvest ETF has dramatically risen in January by about 33% from US$14.35 to US$18.97.

Thus far in February the ETF has moved up another 82% and closed at US$34.6 on February 11.

MMJ is witnessing significant follow through on the buying action that now appears to have come “down cap” into many of its investee companies as well.

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Australis Capital scaling up its award-winning brands across the US and global cannabis markets

Focused on building companies through early-stage, opportunistic, and diversified investments in cannabis space Spun off from Aurora Cannabis in late 2018 Terry Booth, who helped build Aurora, slated to become CEO of Australis

() () aims to build companies through early-stage, opportunistic, and diversified investments in the cannabis value chain in the US and abroad.

The Nevada-based company’s business and assets include investments in Cocoon Technology LLC, , Green Therapeutics LLC, Quality Green, Folium Biosciences, and land assets in Washington state and Michigan. 

Australis was spun out from cannabis behemoth Aurora Cannabis Inc (TSE:ACB) (NYSE:ACB) in September 2018 as its US investment vehicle. Aurora is not allowed to invest in US cannabis assets due to Toronto Stock Exchange and NYSE listing rules. Australis is therefore Aurora’s arm to establish a foothold in the US, before a potential US federal legalization shift.

As part of the new strategy to scale up its award-winning brands across the US and global cannabis markets, the company is seeking a 51% interest in cash-flow-healthy ALPS - the world’s premier design, construction management, commissioning, and post-commissioning consultancy for horticultural crops such as cannabis. Australis is also seeking 100% acquisition of the outstanding membership interest in Nevada-based cannabis cultivator Green Therapeutics (GT).

But the ALPS acquisition - expected to close in late February 2021 - is central to the company’s new growth blueprint. 

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Australis Capital says nearing completion of its acquisitions of ALPS and Green Therapeutics

The company is seeking a 51% interest in ALPS and the 100% acquisition of the outstanding membership interest in Green Therapeutics

Meanwhile, Terry Booth is expected to be appointed as CEO of Australis upon completion of the acquisition of ALPS

() () said Tuesday it is progressing well towards the completion of its proposed acquisitions of ALPS and Green Therapeutics LLC (GT).

Australis is seeking a 51% interest in ALPS and the 100% acquisition of the outstanding membership interest in Green Therapeutics, which includes the discontinuation of all previous litigation with Green Therapeutics. 

“As per the Company's commitment to keep our shareholders fully informed and apprised, we are expecting to enter into definitive agreements with ALPS in short order,” the Nevada-based company said in a statement.

READ: Australis Capital acquiree ALPS inks deal to build a high-tech California greenhouse

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Australis Capital acquiree ALPS inks deal to build a high-tech California greenhouse

Australis said the greenhouse facility is expected to save up to 90% on water use and 90% on labour compared to a traditional farm

The California greenhouse is expected to grow 48 million pounds of produce on a footprint 1/30th the size of 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.”

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MMJ Group Holdings investee Embark Health successfully completes first shipment of products to the British Columbia Liquor Distribution Branch

The company is working with additional provincial boards to register products and increase the distribution capabilities for its branded products. 

The Embark team has worked tirelessly to move from a definitive agreement to product on shelves in a matter of weeks

 () () (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.

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MMJ Group Holdings investee Embark Health ends 2020 ready to deliver business development priorities in 2021

Embark Health is continuing its focus on selling direct-to-consumer branded products through the provincial boards in addition to manufacturing activities.

MMJ holds about12% of Embark with a current book value of $13 million

() () (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.

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Australis Capital acquiree ALPS strikes $2.5M agreement with Cann Group to help build Australian greenhouse

The agreement for the 363,000 square foot facility includes the installation of a computerized compliance and maintenance management system, APIS

Australis announced its intention to acquire 51% of ALPS in January 2021, with an option to purchase the remaining 49%

() () (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.

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Chemistree says investee company ImmunoFlex won Health Canada approval for its Flex 10 antioxidant product

FLEX 10 is ImmunoFlex's unique N-Acetyl-L-cysteine formulation in packs of 30-600 mg capsules

FLEX 10 is a powerful antioxidant, specifically packaged in aluminum blisters to reduce the potential for product oxidation

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."

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Australis Capital announces record growth for Green Therapeutics and multiple contracts for ALPS

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 says it expects its recent acquisitions will result in meaningful revenue growth and profitable operations

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.

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Australis New CEO has a new strategy for the company moving forward in 2021

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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