Cannabis and Hemp Industry Investment News

Inc () (OTCPINK:EURPF) has announced plans to acquire Holy Crap Brands Inc, makers of the popular granola that was first introduced to Canadians on CBC’s Dragon’s Den.

Holy Crap has since expanded its line to include plant-based, gluten-free and kosher products that are available across Canada at retailers like Whole Foods and Save-On-Foods.

The acquisition is a three-cornered amalgamation that results in Holy Crap becoming a subsidiary of EuroLife, which yesterday announced plans to rebrand itself as Plant & Co Brands.

READ: EuroLife Brands to change name to Plant & Co Brands to reflect its focus on the booming health and wellness sector

Under the terms of the roughly C$8.7 million deal signed on November 25, EuroLife’s wholly-owned subsidiary will amalgamate Holy Crap into its business in exchange for 28 million EuroLife shares (which were worth around C$0.31 on Wednesday) in exchange for one Holy Crap share held. In addition, EuroLife will issue four million warrants exercisable at C$0.40 under the same terms as existing Holy Crap warrants. The amalgamated company will become a wholly-owned subsidiary of EuroLife.

Inc () (OTCPINK:EURPF) has unveiled plans to rebrand itself to Plant & Co Brands Inc as part of its shift to a health and wellness business model.

The news follows EuroLife’s earlier acquisition of Plant & Co Marche, a hybrid health and wellness brand with a retail location in Toronto that sells plant-based, vegan, vegetarian, hemp, and specialty immune-boosting products.

As part of its rebranding plans, the company will trade on the Canadian Securities Exchange under the new ticker symbol ‘VEGN’.

READ: EuroLife Brands enters health and wellness sector via acquisition of Toronto-based brand Plant & Co Marche

EuroLife said its name change better reflects its strategic focus to acquire and develop innovative brands and products in the global health and wellness marketplace.

AgraFlora Organics International Inc () (FRA:PU31) (OTCPINK:AGFAF) has acquired High Performance Liquid Chromatography (HPLC) equipment for its 51,000-square-foot, fully automated edibles manufacturing facility in Winnipeg, Manitoba.

The company said the addition of an Agilent HPLC driven analytical testing platform at the edibles facility will allow it to rapidly develop and launch new edibles products which have already been formulated.

"Implementing this suite of HPLC analytical equipment into our production strategy will reduce our 3rd party product testing costs, while improving product safety and quality by allowing us to continuously monitor edible production to ensure quality standards are being met,” said James Fletcher, co-founder and operational manager for Edibles and Infusions Corporation, a subsidiary that runs the plant, in a statement.

READ: Agraflora Organics responds to Health Canada's RMI regarding its standard processing license application for edibles facility

“This should also greatly improve our speed to market with unique SKU’s and allow us to offer some of the most price competitive products in the market,” Fletcher added.

() (FRA:PU31) (OTCPINK:AGFAF) said that Propagation Services Canada Inc. (PSC), its flagship cultivation asset located in Delta, British Columbia has received an agriculture loan to bring its cannabis cultivation to market and continue Phase 1 of the company’s cultivation strategy.

As part of the loan, the group's Delta Facility will receive $5,000,000 which will provide full funding to the licensed cultivation areas and will allow the PSC team to bring their first crop of low cost, high potency cannabis to market, on a wholesale basis, in Q1 2021.

READ: Agraflora Organics responds to Health Canada's RMI regarding its standard processing license application for edibles facility in Winnipeg

The curated portfolio of elite genetics at the Delta facility has been tailored to work with PSC's Delta-based infrastructure and utilizing 422,828 square foot of cultivation space with state-of-the-art semi-pressurized, semi-open Venlo greenhouses.

In a statement, the AgraFlora board of directors commented: “Having a fully-funded Phase 1 cultivation strategy allows us to deliver high potency cannabis strains in 2021. As partners at PSC, we have full confidence in the Houwelings family's ability to achieve this strategy, given their long history of high-quality agricultural production in low-cost environments, as well as the healthy condition of our award-winning genetics.”

Heritage Cannabis Holdings Corp () () (FRA:2UE), a seed-to-sale, vertically integrated cannabis business, announced on Wednesday that it has signed an agreement with Alberta Gaming, Liquor & Cannabis to sell Heritage products in the province.

“On the heels of Heritage already selling out some of our products in British Columbia — which we see as a clear indication of the strong demand for our full spectrum products — we are very pleased to have reached this milestone with the province of Alberta as it puts us closer to launching our products in that province in the near future,” said Heritage Cannabis CEO Clint Sharples.

“With recent trends leaning toward product quality and price being the highest among product characteristics sought after by consumers, Heritage’s products — both the Purefarma and Pura Vida brands — offer exactly that: award-winning, superior products at affordable prices.”

READ: Heritage Cannabis is pioneering the seed-to-sale cannabis model

Heritage’s products have a strong customer following supported by multiple industry awards. Pura Vida THC and CBD extract products have received first place awards in the 2016 Emerald Cannabis Cup. In the 2017 High Times Cannabis Cup, they also placed first in the Best Vaporizer and Sativa Concentrate categories and took second place for both Indica and Hybrid Concentrates. In the 2018 Emerald Cannabis Cup, Pura Vida placed first and third in the concentrate and flower categories.

Inc () (CSE:HUGE.CN) (FRA:0K9A) reckons it has sufficient cash to complete its Phase 2 clinical trial of lead candidate FSD-201 to treat coronavirus (COVID-19) patients, it told investors in its third-quarter results statement. 

As reported previously, the biotech has received the green light from the FDA to initiate the study for ultra micronized-palmitoylethanolamide (FSD201) to treat 352 hospitalized patients with the virus.

READ: FSD Pharma wins FDA nod to begin Phase 2 clinical trial for its lead drug micro-PEA to treat coronavirus patients

As of September 30, the firm had cash and non-cash assets of C$56.2 million, while its short and long term liabilities were C$13.6 million.

Operating expenses for the quarter to end-September were C$17.4 million, up from C$11.1 million in the same period of 2019.

Inc () (CSE:HUGE.CN) CEO Raza Bokhari tells Proactive the biopharma group is fully funded to continue progress on its Phase 2 study to treat hospitalized coronavirus patients.

Bokhari says its most recent fundraising gives the firm $9.5M to conduct the trial, which will begin dosing patients in the next couple of weeks. Despite a recent decline in share price, Bokhari says the group is in execution mode, and has delivered more milestones ahead of schedule.

Heritage Cannabis (CSE: CANN-OTCQX: HERTF) CEO Clint Sharples joined Steve Darling from Proactive Vancouver with news the company has received an inaugural order from Weed Pool Cannabis Co-operative that operates in the Province of Saskatchewan.

Sharples telling Proactive that due to the number of independent stores in that province, about 60 percent, the Weed Pool gives Heritage access across their retail distribution network and provides retailers with products and pricing they may not otherwise have access to.

Heritage Cannabis Holdings Corp () () (FRA:2UE) is set to sell its Pura Vida and Purefarma brands in the province of Saskatchewan after receiving a first order from the Weed Pool Cannabis Co-operative there. 

The latter is a co-operative of independently-owned cannabis retailers in Saskatchewan and represents more than 50% of licensed cannabis sales in the province. 

READ: Heritage Cannabis says both its Pura Vida and Purefarma tinctures will be available for purchase next week in the province of British Columbia

"With over 60% of licensed cannabis retailers in Saskatchewan comprised of independent stores, Weed Pool offers all Heritage products efficient access across their retail distribution network, and provides retailers with products and pricing they may not otherwise have access to," said Clint Sharples, the CEO of Heritage, in a statement.

"We have seen growing interest and awareness of our Pura Vida and Purefarma brands in Saskatchewan and with Weed Pool, our brands will soon be widely available there."

() () said it has executed a binding letter of intent (LOI) with IntelGenx Corp. () (OTCQB:IGXT) for the supply of filmstrip products containing CBD for the Canadian and Australian markets

Under the agreement, IntelGenx will manufacture filmstrips containing 10 mg of CBD using its VersaFilm technology, for distribution and sale in Canada and Australia. In addition to receiving a manufacturing margin, IntelGenx will also receive a double-digit royalty on the gross margin based on product sales.

Heritage will supply CBD material for IntelGenx’s filmstrip manufacture and supply in Canada and Australia on a non and semi-exclusive basis, respectively. The LOI contemplates an option on future co-development of CBD and THC filmstrips using proprietary technology from both companies, under certain conditions.

READ: Heritage Cannabis says both its Pura Vida and Purefarma tinctures will be available for purchase next week in the province of British Columbia

The CBD filmstrips will be produced at IntelGenx’s manufacturing facility under Canadian GPP conditions and registered as a product for sale with Health Canada as a cannabis product governed by the Cannabis Act and with the Australian Department of Health’s Therapeutic Goods Administration as a medicinal cannabis product governed by the Narcotic Drugs Act.

() () said both its Pura Vida and Purefarma tinctures will be available for purchase next week in the province of British Columbia through the province’s authorized Liquor Distribution Branch (LDB) channels.

Heritage launched both Pura Vida and Purefarma vape cartridges in September 2020 and the response by customers has been tremendous in the two provinces in which they are available – British Columbia and Manitoba. British Columbia customers now will soon be able to purchase Pura Vida Daybreak and Nightfall tinctures as well as Purefarma HLX30 CBD and Balance 15:15.

READ: Heritage Cannabis appoints two new vice presidents for US subsidiary Opticann

In a statement, Heritage CEO Clint Sharples said: “We are pleased to soon have all four of our Pura Vida and Purefarma tinctures available in British Columbia as we expect them to be high-demand products and we anticipate a similar response as with our vape cartridges. Our Pura Vida vape cartridges sold out quickly in the province and the LDB has placed a recent order to replenish their stock – welcome news for many, and a clear indication of the strong demand for our full spectrum products.

"Our customers have been particularly pleased with the fact that our full spectrum oil contains no potentially harmful additives or back added terpenes, so they can have confidence in the safety of our products.”

() () has announced that Russ Allison has been appointed Vice President of Sales and Kina Guyton has been appointed Vice President of Medical Products for Heritage’s subsidiary Opticann Inc. in the United States.

“Both Kina and Russ bring the decades of experience we need to drive the advancement of Heritage’s U.S. strategy at Opticann, and bring brands to market successfully in the rapid-growth U.S. cannabis and hemp markets,” said Umar Syed, recently appointed himself as president, US & International medical products for Heritage.

“Their combined experience in sales and product development in the consumer packaged goods industry make them key additions as we build out our U.S. team,” he added in a statement

READ: Heritage Cannabis Holdings Corp appoints Umar Syed as president medical products role

The group noted that Allison has over two decades of experience at Consumer, the Over-The-Counter (OTC) and consumer packaged goods division of this Fortune 50 consumer health company. His roles included Director of Sales, Director of Business Development, and Skin Franchise Trade Marketing. He led multiple new product introductions as well as prescription to over-the-counter product switches. More recently, he has served as the North America general manager for two international corporations to manage their North American business expansion.

Heritage Cannabis (CSE: CANN) President and CEO Clint Sharples joined Steve Darling from Proactive to update a number of moves the company has made. Those include teaming up with Patient Choice and acquiring Opticann.

Sharples talks about those deals and he also offers some thoughts on CannaCure getting a sales licence from Health Canada and when the company may have products in stores right across Canada.

Heritage Cannabis Holdings Corp () () (FRA:2UE) announced Wednesday that it has named medical cannabis executive Umar Syed as its new president of US and international medical products. 

Syed was CEO of Opticann Inc, a cannabinoid company that Heritage acquired earlier this month. Before that, he served as senior vice president of corporate development at , a medical cannabis company that was bought by Aurora Cannabis Inc (TSE:ACB) (NYSE:ACB) (FRA:21P1) for $3.2 billion in 2018. 

All told, Syed has more than 20 years of leadership experience in the pharmaceutical and medical cannabis industries, including handling international corporate strategy for Pharmascience Canada.

READ: Heritage Cannabis subsidiary receives sales license from Health Canada

He was part of the founding management team of the first medical cannabis product development company in Canada in 2004. Cynapsus Therapeutics developed filmstrip drug delivery technology for Parkinsons’ Disease before it was sold to Sunovion Pharmaceuticals of Japan for $842 million in 2016.

Heritage Cannabis Holdings Corp () () (FRA:2UE) said its subsidiary, CannaCure Corp, has been granted a cannabis oil sales license effective October 9, by regulators at Health Canada, that will allow it to begin selling cannabis products, including oil derivatives, directly to provincial cannabis boards.

The approval will complement several products that Heritage already offers through its other subsidiary, Voyage Cannabis Corp, including Pura Vida cannabidiol (CBD) 4:1 Honey Oil, and Indica, Sativa and Hybrid Honey Oil vape cartridges, as well as Purefarma Moon, Sun and Earth vape cartridges. Tinctures include Pura Vida ‘Daybreak’ and ‘Nightfall’ full-spectrum THC tinctures and the Purefarma Hemplixer full-spectrum CBD tinctures in two concentrations, HLX15 and HLX30.

READ: Heritage Cannabis closes acquisition of cannabinoid company Opticann; building on US expansion strategy

“Having the CannaCure sales license granted by Health Canada is another accomplishment for the Heritage team and follows on recent positive news of our acquisition of Opticann Inc., and the availability of our products through the medical site Patient Choice. We are on a strong trajectory in the Canadian and U.S. cannabis markets and having our sales license at CannaCure provides the optionality and flexibility for the business as we continue on our successful path,” Heritage chief executive Clint Sharples said in a statement.

Heritage is a vertically integrated cannabis provider that operates through its subsidiaries and provides them with resources to advance their product ranges to compete domestically in the Canadian market and internationally.

Heritage Cannabis Holdings Corp () () announced Thursday it had completed the acquisition of Colorado-based Opticann Inc, an oral and topical cannabinoid company.

The deal is for an initial consideration of up to C$5 million in common shares and warrants of Heritage, the Toronto-based company said.

Opticann, which was founded by several former executives of MedReleaf - a Canadian medical cannabis company that was acquired by Aurora Cannabis Inc for $3.2 billion in 2018 - has the rights to exclusively sell CBD and CBG products made with the patented VESIsorb drug delivery system for optimized absorption and stability.

READ: Heritage Cannabis to acquire Colorado-based oral and topical cannabinoid company, Opticann for an initial consideration of up to C$5.0 million

“Bringing Opticann on board the Heritage platform provides us with a significant advantage in the advancement of our US presence and the ability to participate in the rapidly growing multi-billion dollar US CBD market,” said Heritage CEO Clint Sharples in a statement.

Heritage Cannabis Holdings Corp () () announced Wednesday that its products, including the Purefarma and Pura Vida brands, are available for purchase on the Patient Choice online platform. 

Patient Choice is a Health Canada licensed virtual portal that gives medical cannabis patients across Canada the flexibility to buy products from a range of licensed producers and processors. Heritage joins other well-known suppliers on Patient Choice.

“We’re thrilled to partner with Patient Choice to enable greater patient access and choice for medical cannabis,” said Heritage CEO Clint Sharples in a statement.

READ: Heritage Cannabis launches vape cartridge products in British Columbia and Manitoba

“Not only are we expanding the reach of our award-winning Purefarma and Pura Vida products across Canada, we’re also offering them in service of our shared goal to enhance people’s ability to get medical cannabis in whatever form they want on one convenient platform,” Sharples added.

Heritage Cannabis Holdings Corp () () announced Monday that all seven of its vape cartridge products have launched in British Columbia and Manitoba.

In British Columbia, Heritage will market its Pura Vida CBD 4:1 Honey Oil, and Indica, Sativa and Hybrid Honey Oil vape cartridges, as well as Purefarma Moon, Sun and Earth vape cartridges through authorized liquor distribution channels in the province.

Consumers in Manitoba can buy Purefarma CBD Earth, and Pura Vida’s Indica, Sativa, and Hybrid Honey Oil vape cartridges at select licensed cannabis retail stores.

READ: Heritage Cannabis posts C$2.3M in 3Q revenue on the back of its strong contract manufacturing business

“We are thrilled to have our vape cartridges on the shelves in Manitoba and British Columbia,” Heritage CEO Clint Sharples said in a statement.

Agraflora Organics International Inc () (OCTMKTS:AGFAF) has submitted a formal response to Health Canada's first request for more information (RMI) regarding the standard processing licence application for Agraflora's 51,000-square-foot, fully automated edibles manufacturing facility in Winnipeg, Manitoba. 

In a statement Friday, the company said the RMI response is a key step towards achieving the standard processing license for the edibles facility. Agraflora in May submitted its site evidence package to Health Canada for the manufacturing license.

AgraFlora noted that on August 27 it launched research and development trials through its Health Canada R&D license to dial in formulations for cannabis-activated pectin and gelatin gummies, hard candy, and sugar-free variants. 

READ: AgraFlora says subsidiary Farmako in distribution agreement with Adjupharm to supply medical cannabis in Germany

The Vancouver-based company said it is currently in discussions with multiple Canadian cannabis companies with respect to product development and formulation as an R&D service. It believes that R&D services contracts are a critical path to long-term production relationships.