Cannabis and Hemp Industry Investment News

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Namaste acquires the remaining 49% of CannMart Labs as the company looks to produce 2.0 products

Namaste (CVE: N- OTC: NXTTF) CEO Meni Morim joined Steve Darling from Proactive with news the company has acquired the remaining 49% of CannMart Labs. That now allows Namaste to start manufacturing their own 2.0 products.

Morim discusses the process that will take, as they wait on Health Canada. He also shared details about their new commitment to keep shareholders better informed.

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Namaste strikes share purchase agreement to acquire remaining 49% interest in CannMart Labs for full ownership

Under the terms of the proposed transaction, Namaste will acquire the remaining stake from MKD Holdings and JLLS Holdings in exchange for $4,034,000

CannMart Labs' facility in Ontario has been completed for BHO extraction, making it one of only a few facilities in Canada with such capabilities

() () (FRA:M5BQ) has entered into a share purchase agreement to acquire the remaining 49% interest in CannMart Labs Inc for full ownership of the cannabis extractor.  

Under the terms of the proposed transaction, it will acquire the remaining stake from MKD Holdings Inc and JLLS Holdings Inc in exchange for a purchase price of $4,034,000, Namaste said in a statement Wednesday.

The company noted that CannMart Labs facility in Ontario has been completed for BHO (butane hash oil) extraction using leading extraction technology, making it one of only a few facilities in Canada with such capabilities. The lab’s application is in the final phase for a processing license from Health Canada. 

READ: Namaste Technologies posts C$5.6M in 3Q revenue on the back of online cannabis platform CannMart

CannMart Labs is set to produce in-house branded Cannabis 2.0 products for medical channel customers at CannMart.com and recreational customers across Canada through sister company CannMart Inc.'s network of provincial sales partners. Cannabis 2.0 products initially planned include shatter and live resin with capabilities to expand future distillate product offerings to vape cartridges, gel capsules, tinctures, and edibles.

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NA Proactive news snapshot: Alpine 4, KULR Technology, TRACON Pharmaceuticals, Silvercorp Metals, Ideanomics, Esports Entertainment UPDATE ...

A glance at some of the day's highlights from the Proactive Investors US and Canada newswires

Alpine 4 Technologies Ltd (), a technology holding company that provides electronic contract manufacturing solutions, posted third-quarter results on Monday that saw its revenue jump 23% year-over-year driven by strong sales from its subsidiaries. For the period ended September 30, 2020, the Phoenix, Arizona-based group reported revenue of $8.72 million, bringing the group’s total revenue for the first three quarters this year to around $26.6 million. Alpine 4 has business ventures in automotive technologies, electronics manufacturing, fabrication technologies and clean energy solutions.

KULR Technology Group Inc (), citing a strong balance sheet and available cash, said Friday that it expects the incoming US administration to accelerate a transition to clean energy, “providing a tailwind” for the firm’s products, solutions, and services. The San Diego, California-based company said it had increased its cash balance by over $2 million to $2,809,656 at the end of September, compared to $767,906 on June 30, 2020. The firm raised $2,300,000 of gross proceeds through the issuance of notes payable, of which $375,000 was subsequently repaid. It also raised $1,395,000 of gross proceeds through the issuance of common stock.

Inc () revealed on Monday that its corporate partners, Alphamab Oncology and 3D Medicines, have submitted a new drug application (NDA) for the approval of envafolimab (KN035) in the indication of MSI-H/dMMR cancer to the National Medical Products Administration (NMPA), in China. “We congratulate our partners on the regulatory submission of data from the registration trial of envafolimab in MSI-H/dMMR advanced solid tumors including colorectal and gastric cancer, which marks an important milestone in the development and potential commercialization of the program,” TRACON Pharmaceuticals CEO Charles Theuer said in a statament. “The submission for approval highlights the advanced status of envafolimab product development,” he added.

() (NYSEAMERICAN:SVM) Monday reported that it has discovered new gold zones from recent drilling at the LMW mine in the Ying Mining District of China’s Henan Province. Results included a 1.9 metre interval grading 37.1 grams per tonne (g/t) gold and 4 g/t silver, as well as a 6.1 m interval grading 5.2 g/t and 30 g/t silver.

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NA Proactive news snapshot: Endeavour Mining, Steppe Gold, GlobeX Data, Q BioMed, Tetra Bio-Pharma, Innocan Pharma, Helix Technologies UPDATE...

A glance at some of the day's highlights from the Proactive Investors US and Canada newswires

Endeavour Mining Corporation () is acquiring West Africa-focused gold miner Teranga Gold Corporation () (OTCQX:TGCDF) in a C$2.4 billion deal to form a top 10 gold producer. The news confirms speculation last week that Endeavour would buy Teranga, a low cost, mid-tier gold producer with two producing gold mines in Burkina Faso and Senegal to complement Endeavour’s six gold mines in West Africa. Once the deal is finalized, the combined company will boost its gold production to more than 1.5 million ounces per year and boast one of the largest exploration portfolios throughout West Africa’s Birimian greenstone belt.

() Monday reported 3Q financial results from operations at its ATO Gold Mine in Mongolia, which included cash flow of US$12.7 million and cash reserves of more than US$37 million. The company recorded revenue for the quarter of US$19.4 million with All in Sustaining Costs (AISC) of US$794 per gold ounce sold. Adjusted EBITDA for the period was US$9.9 million, as 11,352 gold ounces and 6,553 silver ounces were sold following 207,663 tonnes of ore processed with an average gold grade of 2.2 grams per tonne (g/t) and an average silver grade of 8.5 g/t. 

Ltd () (), the cybersecurity and Internet privacy specialist, has inked a deal with SYNNEX Canada Limited, the subsidiary of Fortune 200 firm SYNNEX Corporation (NYSE:SNX), to distribute GlobeX's Sekur solution through the group's 11,000 resellers in Canada. Significantly, SYNNEX Canada estimates that between 5% and 15% of its resellers would resell Sekur, meaning of 11,000 resellers, between 550 and 1,650 would be selling GlobeX's security solutions.

Q BioMed Inc () announced Monday that it has received a US patent for its Uttrocide-B molecule as a potential liver cancer treatment. The company has the exclusive rights to the technology through an agreement with the Rajiv Gandhi Centre for Biotechnology, an autonomous institute under the Department of Biotechnology, Government of India and the Oklahoma Medical Research Foundation. Q BioMed said the method of use for the patent —  titled "Uttroside-B and Derivatives Thereof as Therapeutics for Hepatocellular Carcinoma” — covers the use of a novel pharmaceutical for the treatment of hepatocellular carcinoma. International and additional US claims are currently under prosecution for the technology which addresses a severe unmet need for a safe and effective drug to treat hepatocellular carcinoma (HCC), the most common form of liver cancer, the company added. In a statement, CEO Denis Corin said the patent win comes as the company starts scaling up manufacturing and preparing Uttroside-B for an investigational new drug (IND) application with the US Food and Drug Administration.

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Helix Technologies grows software revenue and client base, while gross margin expands for third quarter in a row

For the period ended September 30, 2020, the Denver-based technology company reported software revenue of $2.8 million, up 18% from 2019

Helix Technologies CEO Zachary L Venegas said it was the firm's 'third consecutive quarter of positive adjusted EBITDA, and improvement in nearly every operational and financial metric'

Inc (), which has a suite of technology services and platforms that enable cannabis business owners manage risk, posted third-quarter results after the bell on Friday, that saw its software revenue jump, driven by an increasingly expanded client base. 

For the period ended September 30, 2020, the Denver, Colorado-based technology company reported software revenue of $2.8 million, up 18% from 2019. The company noted that software revenue also expanded 6% on a sequential basis “defying market headwinds.” 

The company has also grown year-to-date revenue to $8.8 million, up 13% from 2019, while improving gross margin to 68%, compared to the same period in 2019.

READ: Helix Technologies to merge with healthcare data provider MOR Analytics to create integrated US cannabis commercial analytics platform

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Namaste releases third quarter financial numbers showing year over year revenue growth

Namaste Technologies (CVE: N-OTCMKTS: NXTTF) CEO Meni Morim joined Steve Darling from Proactive to share with viewers the company results from Q-3 2020- Morim noting an improvement in Revenue year over year and a better bottom line.

Morim also told Proactive about the real bright spot for the company, the performance of their CannMart platform.

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Namaste Technologies posts C$5.6M in 3Q revenue on the back of online cannabis platform CannMart

Total net revenue for CannMart for the three-month period to end August 31 was C$2.3 million, a 1,586% increase compared to the year-ago period

Namaste recently entered the direct-to-consumer recreational cannabis market to sell products by licensed retailers via CannMart.com and VendorLink

() () (FRA:M5BQ) saw its revenue increase by 49% to C$5.6 million in its third quarter 2020, thanks to blockbuster growth from its online cannabis platform CannMart. 

Total net revenue for CannMart for the three-month period to end August 31 was C$2.3 million, a 1,586% increase compared to the year-ago period, according to results released Friday. 

Cannabis revenue represented nearly 41% of net consolidated revenue for the quarter versus 3.6% in the same period a year prior.

READ: Namaste Technologies expands Cannabis 2.0 offerings with new butane hash oil products; inks pact with Stigma Grow

The Toronto-based firm also narrowed its net loss to C$7.8 million from the C$14.7 million it posted in 3Q 2019.

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Helix Technologies to merge with healthcare data provider MOR Analytics to create integrated US cannabis commercial analytics platform

The two companies will become subsidiaries of a newly formed company known as Forian Inc after the all-stock transaction is completed

Helix shareholders will receive 0.027 shares of Forian common stock for each share of Helix common stock, giving it 28% ownership of the combined company

Inc () announced a deal over the weekend to merge with healthcare software company Medical Outcomes Research Analytics LLC (MOR Analytics) to create a new information and technology provider for the healthcare and cannabis sectors.

In a statement, the two firms said the deal to combine Helix's operating software business and proprietary data assets with MOR's experience in data architecture, technology, and analytics will create the largest proprietary, integrated US cannabis commercial analytics platform.

The two companies will become subsidiaries of a newly formed company known as Forian Inc after the all-stock transaction is completed.

READ: Helix Technologies says it has launched nation’s first online medical marijuana reciprocity portal in New Mexico

Forian will provide evidence-based insight into the safety and efficacy of pharmaceuticals and cannabis products for physicians, caregivers, cannabis stakeholders and patients by providing a Software-as-a-Service (SaaS)-based platform. The business will also allow regulators to access key data like safety and economic outcomes associated with cannabis and cannabinoid-based therapies.

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Namaste's Meni Morim shares thoughts on company, industry, and if Namaste will undergo metamorphosis

Namaste Technologies (CVE: N-OTCMKTS: NXTTF) CEO Meni Morim joined Steve Darling from Proactive in a very different type of interview.

The CEO wanted to shares his thoughts on what he is hearing from investors. So Proactive gathered investor questions and posed them to Namaste’s CEO Meni Morim.

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Namaste Technologies expands Cannabis 2.0 offerings with new butane hash oil products; inks pact with Stigma Grow

Namaste subsidiary CannMart will distribute Stigma Grow’s shatter, crumble and live resins through its B2B and online medical channel

Namaste CEO Meni Morim said with its new Phyto-branded BHO live resin and Stigma Grow's shatter, crumble and live resins, the company is “leading the marketplace” with Cannabis 2.0 products

() (OTCMKTS:NXTFF), which operates the largest global cannabis e-commerce platform, revealed on Tuesday that it was expanding its Cannabis 2.0 offerings with a new butane hash oil (BHO) live resin product line to be sold under the Phyto Extractions brand.

In addition, Namaste said its wholly-owned subsidiary CannMart Inc, has struck an exclusive agreement with licensed producer and processor Stigma Grow, to distribute shatter, crumble, and live resins through its B2B channel and its business-to-consumer online medical channel.

"This agreement with CannMart is in perfect alignment with our promise to Canadians and builds on the momentum that we have already seen in the provinces where our products are currently sold. We're excited to bring our unique live resin, full-spectrum BHO products to as many stores across Canada as possible," Stigma Grow CEO Travis McIntyre said in a statement.

READ: Namaste Technologies says subsidiary CannMart cancels licensing agreement with Ignite International Brands

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Namaste Technologies says subsidiary CannMart cancels licensing agreement with Ignite International Brands

CannMart will continue selling the remaining Ignite inventory through provincial control boards and through its website until December 29 and will no longer act as distributor for Ignite in Canada

Ignite products, to the extent made available by licensed retailers in Saskatchewan, will also continue to be available on the CannMart website via its VendorLink platform

() has announced that subsidiary CannMart Inc and Ignite International Brands Ltd have mutually terminated an agreement to utilize certain Ignite trademarks on cannabis-based products. 

In a statement Friday, Namaste said CannMart will continue selling the remaining Ignite inventory through provincial control boards and through its medical channel at the CannMart website to December 29 and will no longer act as distributor for Ignite in Canada. 

Ignite products, to the extent made available by licensed retailers in Saskatchewan, will also continue to be available on the CannMart website via its VendorLink platform, Namaste added.

READ: Namaste Technologies taps finance veteran Slava Klems as interim CFO, settles trademark dispute  

"Our customers and partners are critical to the long-term success of our company, and we are on a mission to connect consumers with the solutions that fit into their lives," said Namaste CEO Meni Morim.

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Namaste Technologies enters recreational cannabis market in a transformative move

Namaste Technologies (CVE: N-OTC: BXTTF) CEO Meni Morim and CTO Chad Agate joined Steve Darling from Proactive to share news the company have dipped their toe into the recreational cannabis market with a deal that will see them begin to operate in Saskatchewan.

Morim talks about how significant this more in for Namaste while Agate discusses the size of the market how the company was able to get to this point

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Namaste Technologies taps finance veteran Slava Klems as interim CFO, settles trademark dispute  

Klems, who has been with the global cannabis e-commerce platform company since July, succeeds Annie Holmes who is stepping down

Under the terms of the trademark dispute settlement, Namaste will receive a settlement payment in "three tranches over the next 12 months" from one of the defendants for around $250,000

() (), which operates the largest global cannabis e-commerce platform, said on Monday that it tapped Slava Klems as the compnay's interim chief financial officer.

Klems succeeds Annie Holmes, who has stepped down to pursue other opportunities, and will close out her CFO stint with Namaste on October 30.

"I would like to welcome Ms Klems to the position of interim CFO for Namaste," CEO Meni Morim said in a statement.

READ: Namaste Technologies inks agreement with e-commerce company Lifted Innovations

"She has an impressive background in corporate finance with experience in technology and platform integration and has shown an incredible business acumen since joining the company.”

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Namaste Technologies enters recreational cannabis market through new partnership with High Tide

Around 40 products earmarked for the recreational market will be made available to consumers in Saskatchewan via CannMart.com

() () is entering the direct-to-consumer recreational cannabis market to sell products by licensed retailers via its online platform CannMart.com and its recently launched program VendorLink.

The Toronto-based company announced Tuesday it is collaborating with cannabis firm High Tide Inc () () that will see subsidiaries of both companies make recreational products available exclusively on CannMart.com for a one-year term, subject to renewals.

Around 40 products earmarked for the recreational market will be made available to consumers in Saskatchewan, with weekly inventory changes and additional products to be made available, according to the firm.

READ: Namaste Technologies debuts new marketplace platform VendorLink for cannabis accessories

Launched as an online platform for the medical cannabis market, CannMart.com provides customers with a diverse selection of hand-selected products from a multitude of federally-licensed cultivators. VendorLink allows brands and vendors to upload and sell cannabis accessory products directly to CannMart customers.

Namaste CEO Meni Morim called the news a “landmark moment” for the company.

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Namaste Technologies debuts new marketplace platform VendorLink for cannabis accessories

Cannabis hardware company Canada Puffin will be the first brand uploaded to VendorLink

CannMart is Toronto-based Namaste’s online cannabis store

() () is launching VendorLink, a new marketplace platform for cannabis accessory products, it announced Friday.

The proprietary platform allows brands and vendors to upload and sell cannabis accessory products directly to CannMart customers, according to the firm. CannMart is Toronto-based Namaste’s online cannabis store.

Cannabis hardware company Canada Puffin, which specializes in hand-blown glass and natural pipes and accessories, will be the first brand uploaded to VendorLink.

READ: Namaste Technologies inks agreement with e-commerce company Lifted Innovations

In a statement, Namaste told shareholders that CannMart is in a “unique position” to leverage its online presence with companies looking to expand their reach.

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Namaste Technologies inks agreement with e-commerce company Lifted Innovations

As part of the deal, the two companies will collaborate wherever practical for 24 months, with an eye on US business development

In keeping with Namaste's strategic partner status, Lifted has issued the Toronto-headquartered cannabis e-commerce giant 3,065,000 shares or roughly 5% undiluted shareholding

() (OTCMKTS:NXTFF) (FRA:M5BQ), which operates the largest global cannabis e-commerce platform, said on Thursday that it had struck an agreement with Lifted Innovations Inc, a private e-commerce company selling cannabis-related accessories in the US and Canada.

As part of the deal, the two companies will collaborate wherever practical for 24 months, with an eye on US business development. The partnership will also look at creating “efficiencies” relating to common ancillary businesses and potential opportunities relating to the licensing of technology.

In keeping with Namaste's strategic partner status, Lifted has issued the Toronto-headquartered cannabis e-commerce giant 3,065,000 shares, which amounts to a roughly 5% undiluted shareholding.

READ: Namaste Technologies adds leading Canadian brand Indiva to its product offering on CannMart.com

Separately, in July, Lifted said that Kootenay Zinc Corp (CSE:ZNK) had initiated an offer to acquire all of the issued and outstanding shares of Lifted, thereby entitling Lifted shareholders to receive one share of the issuer PeakBirch Logic Inc, for each Lifted share tendered. The offer was part of a larger reverse takeover and change of business transaction for Kootenay.

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Helix Technologies launches online medical marijuana reciprocity portal in New Mexico

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Inc () COO Moe Afaneh tells Proactive that New Mexico's online medical marijuana reciprocity portal, which Helix worked with the state government to set up, is live and has been serving out of state patients living or vacationing in New Mexico.

Afaneh says the system, which is the first of its kind for US Medical Cannabis programs, allows state regulators to electronically register and track out of state patients into the patient registry.

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Helix Technologies says it has launched nation’s first online medical marijuana reciprocity portal in New Mexico

The system allows state regulators to electronically register and track out of state patients into the patient registry 

Since going live with the reciprocity module on July 1, more than 1,700 out of state patients have been registered for the program

Inc () announced Tuesday that New Mexico's online medical marijuana reciprocity portal is live and has been serving out of state patients living or vacationing in New Mexico.

The system, which is the first of its kind for US Medical Cannabis programs, allows state regulators to electronically register and track out of state patients into the patient registry. 

The system decreases time and costs associated with paper only patient registries and allows the state to track and enforce dispensing limits in real time to prevent potential diversion to the black market.

READ: Helix Technologies says it has already achieved all of its financial goals for 2020, as revenues surge in first half

Helix noted that the new platform, which the company worked with the state government to set up, benefits all stakeholders in the New Mexico industry as it allows out of state patients a convenient way to access medical cannabis.

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Namaste Technologies adds leading Canadian brand Indiva to its product offering on CannMart.com

CannMart will sell Indiva’s CBD soft gels and capsules as well as its Bhang chocolates and Wana sour gummies through its online distribution channels

The addition of Indiva comes as Toronto-based Namaste expands its Cannabis 2.0 product offering (photo courtesy of Indiva)

() (OTCMKTS:NXTFF) has added Indiva Inc products to its online distribution channel CannMart.com.

Indiva is a wholly-owned subsidiary of Indiva Limited () (OTCQX:NDVAF), a Canadian producer of cannabis edibles and related products.

CannMart will sell Indiva’s CBD softgels and capsules as well as its Bhang chocolates and Wana sour gummies through its B2C distribution channels for medical customers, Namaste said.

READ: Namaste Technologies reports record 2Q revenue as CannMart flexes sales strength

"We have made tremendous inroads in both the medical and recreational sales channels and the investment we made in our processing and distribution facilities has allowed us to expand our presence within the legal Canadian cannabis market,” Namaste CEO Meni Morim said in a statement Thursday.

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Helix Technologies reveals revenue surge and doubling of Cannalytics platform use in its 2Q

Inc's () Garvis Toler tells Proactive the firm reported a revenue surge in its first half of US$9.3 million, an increase of 28% over the same period last year, while its adjusted earnings (EBITDA) expanded to US$2 million from US$259,000.

For its second quarter, Toler says cash flows from operations rose 162% year-on-year to US$446,000, adding that the number of clients using its Cannalytics platform more than doubled in the quarter to over 200.

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