Cannabis and Hemp Industry Investment News

AgraFlora Organics International Inc () said its subsidiary Farmako GmbH has entered into a binding distribution agreement with Adjupharm GmbH to supply medical cannabis in Germany. 

Adjupharm, the German subsidiary of (), will provide EU Good Manufacturing Practice (GMP) quality medical cannabis to Farmako for a three-year term, according to a statement.

Farmako will distribute the products in Germany to patients under the brand to its established network of German pharmacies. The first products are expected to launch in October 2020.

READ: AgraFlora says Farmako subsidiary secures added supply of EU-GMP certified medical cannabis from ZenPharm

The products provided by Adjupharm and distributed by Farmako include initially high potency THC flower. The portfolio is expected to be enhanced throughout the first quarter of 2021 by balanced THC and CBD flower as well as CBD dominant flower.

AgraFlora Organics International Inc () (OCTMKTS:AGFAF) said on Tuesday that its subsidiary Farmako GmbH has executed a binding supply agreement with ZenPharm Limited, a subsidiary of Global Inc (), to secure additional medical cannabis stock.

As result of the supply agreement, ZenPharm will supply EU Good Manufacturing Practice (GMP) quality medical cannabis flower cultivated by to Farmako for distribution to medical cannabis patients in Germany. The agreement will facilitate the distribution of 1,500 kilograms of cannabis flower by Farmako in Germany over a three-year term, said the company.

Farmako will distribute the products to its established network of German pharmacies and the products will carry Farmako’s branding, a key step in building “brand awareness and loyalty” with physicians, pharmacists and patients, noted the company. The products initially include high potency THC flower and balanced THC and CBD flower, two product categories that management believes are in highest demand in Germany. Shipments to Farmako are expected to start in November 2020.

READ: AgraFlora Organics expects first harvest at its Delta greenhouse in fourth quarter 2020

Heritage Cannabis Holdings Corp () (OTC:HERTF) announced Thursday that its products will soon be available in British Columbia through their Liquor Distribution Branch (LDB) and in Manitoba initially through select licensed retail locations.

Both the group's Purefarma and Pura Vida brand vape cartridge products are ready to ship and are expected to be available in these markets in September. Heritage has already received orders for various products, the company said.

READ: Heritage Cannabis starts development of vape cartridges for Sugarbud Craft Growers as part of contract manufacturing agreement

The British Columbia LDB will carry all seven of Heritage’s vape cartridge products, including Pura Vida CBD 4:1 Honey Oil; Indica, Sativa and Hybrid Honey Oil vape cartridges, and Purefarma Moon, Sun and Earth vape cartridges.

In Manitoba, consumers will be able to purchase Purefarma CBD Earth, as well as Pura Vida’s Indica, Sativa, and Hybrid Honey Oil vape cartridges. The company is in talks regarding the supply of its tincture products to both provinces.

Ltd () (), the cyber security and privacy solutions provider, said that it has launched its Sekur encrypted email, messaging and file transfer solution bundle worldwide. The Toronto-based tech company said the service is available at Sekur.com and Sekur.ch. The company’s communications suite includes encrypted messaging and voice recording transfer with a self-destruct timer, an encrypted email account and a secure file transfer solution. All the data is secured using “proprietary encryption technology and is hosted in Switzerland for ultimate privacy,” said the company. GlobeX has also launched SekurPro, which includes voice and video conferencing encryption, over the web. Other versions are currently available for GlobeX's distributors only.

Corp () inked a set of deals with cannabis company Vibe Bioscience Ltd (CSE:VIBE) to sell its California and Oregon assets. In the first deal, reported over the weekend, Ventura said it is selling its subsidiary Cathedral Asset Holding Corporation, which holds distribution and manufacturing assets in Santa Rosa, California to Vibe Bioscience for C$333,300 in cash and 800,000 shares of Vibe. The second deal, announced Monday, sees Ventura selling Vibe its cannabis retail dispensary in Portland, Oregon in a share deal worth nearly C$1.9 million.

Talon Metals Corp () released new metallurgical testing results on Monday that confirm the option to use nickel concentrates from its flagship Tamarack project for the high-value electric vehicle or stainless steel markets. In a statement, the junior company said that flotation optimization was conducted on a composite grading 1.6% nickel and nearly 1% copper, adding that a recently completed Locked Cycle Flotation Test (LCT) produced a nickel concentrate grading 10.8% nickel and 1.2% copper and a copper concentrate grading 29.9% copper and 1.1% nickel. Talon told shareholders that the concentrate grades will be “attractive” for both pyrometallurgical processing in nickel and copper smelters and for hydrometallurgical treatment of the nickel concentrates for producing a nickel sulphate.

(), a diversified software and services company, announced Monday it has completed a strategic acquisition of GridFabric LLC. Also, principals of GridFabric — Ben Dupont and Matt Hale — will be joining the CleanSpark team.  GridFabric creates software solutions that help power utilities and IoT (Internet of Things) products that manage energy loads. The GridFabric team created the original open-source Open Automated Demand Response (OpenADR) standard released by the Electric Power Research Institute (EPRI). OpenADR 2.0b is now the basis for the standard to be developed by the International Electrotechnical Commission.

Aequus Pharmaceuticals Inc () () is getting ready to file for regulatory approval in Canada for the Evolve line of dry eye products, it said Monday. The news comes as the Vancouver-based firm said its UK partner Medicom Healthcare received the final certificate for the Canadian Medical Device Single Audit Program necessary to complete the regulatory submission for Health Canada approval. Aequus said it expects to file for Canadian regulatory approval for the first three dry eye products in the Evolve line within the next 10 days.

() () released topline results from its Phase 3 TRILOGY 2 trial of lead drug CaPre that saw over 30% reduction in triglyceride levels in participants. The Quebec-based biopharmaceutical company reported a 30.4% average reduction in triglyceride levels among all patients receiving CaPre, as compared to 30.5% in TRILOGY 1, and a 17.9% median reduction in triglyceride levels among patients receiving placebo at 12 weeks as compared to 27.5% in TRILOGY 1. However, the company said unadjusted, placebo corrected triglyceride reduction of 12.4% achieved a “p” value of 0.19 – which was not statistically significant – meaning the TRILOGY 2 study did not meet its primary endpoint. As a result, Acasti said it will not file a New Drug Application with the US Food and Drug Administration for patients with severe hypertriglyceridemia, and does not plan to conduct additional clinical trials for CaPre.

Internet of Things Inc () (OTCMKTS:INOTF), a software and solutions provider in the artificial intelligence and industrial IoT markets, has changed its name to Predictiv AI Inc. The share consolidation trimmed the company’s outstanding shares at a ratio of up to 5.5:1 pre- to post-consolidation shares. Post-consolidation, there are now 61,345,803 shares issued and outstanding. The shares will trade on a post-consolidated basis under its new name and ticker symbol "PAI" on the TSX Venture Exchange at the opening of trading on September 1. The company changed its name to reflect its broader commitment and expertise in accelerating artificial intelligence (AI) innovation as it advances AI and machine learning solutions.

Ltd () () announced Monday that its Phase 3 clinical trial protocol to evaluate the safety and efficacy of Bucillamine in patients with mild-to-moderate COVID-19 received approval from the independent Institutional Review Board at Advarra, a premier IRB services company in North America. “With the IRB approval of the Phase 3 study protocol for COVID-19, we can recruit US clinical sites efficiently, allowing us to move forward with providing Bucillamine to patients under our Investigational New Drug (IND) application that was approved by the FDA last month,” said Revive CEO Michael Frank in a statement. An IRB operates under US Food and Drug Administration regulations and is an FDA registered constituted group that has been formally designated to review and monitor biomedical research involving human subjects.

Inc () (CSE:HUGE.CN) (FRA:0K9A) announced on Monday that it has submitted an Investigational New Drug Application (IND) application to the US Food and Drug Administration (FDA) for the use of its lead candidate FSD-201, or anti-inflammatory ultra-micronized-palmitoylethanolamide (PEA), to treat coronavirus (COVID-19) patients. The company said that “severe COVID-19” is characterized by an “over-exuberant inflammatory response” that may lead to a cytokine storm and ultimately death. FSD Pharma is developing FSD-201 for its anti-inflammatory properties to avoid the cytokine storm associated with acute lung injury in hospitalized COVID-19 patients. The trial will be a randomized, controlled, double-blind, US multicenter study at 25 to 30 sites, to assess the effectiveness and safety of FSD-201 dosed at 600 mg or 1,200 mg twice-daily, together with standard of care (SOC), versus SOC alone in hospitalized patients with documented COVID-19.

NexTech AR Solutions Corp. () () (FSE:N29) revealed that its recently launched augmented reality solution for video ‘ScreenAR’ has generated over $100,000 in sales in its first month and is gaining great momentum. The firm, an emerging leader in augmented reality for eCommerce, AR learning applications, AR-enhanced video conferencing and virtual events, said ‘ScreenAR’ has been seamlessly integrated into the InfernoAR platform and uses the company's ARitize technology. In a statement, Evan Gappelberg, NexTech AR chief executive officer noted: “Due to the insatiable demand of InfernoAR, the surging demand for our AR products and continued growth in our AR eCommerce we are on target to have a record-breaking Q3.”

Corp () ended a busy second quarter with just over US$6.3 million in cash and saw the company make its debut on the TSX Venture Exchange. CEO Kyle Floyd deemed the quarter “tremendously successful” for the newly-listed royalty company as it acquired 27 royalties as part of a reverse takeover transaction and has added an additional five since its listing. A big move for the Toronto-based company was its acquisition of a proprietary royalty database from Mineral Royalties Online Pty Ltd, which includes over 7,000 global royalties, providing Vox with a first-mover advantage to execute non-brokered royalty deals.

Todos Medical Ltd (), a diagnostics company, announced Monday that it has entered into a sales agreement with a Wisconsin-based laboratory to supply it with the necessary coronavirus (COVID-19) polymerase chain reaction (PCR) testing equipment and supplies. Under the $23.76 million, initial eight-month contract, Todos said it will supply automated extraction machines, liquid handlers and PCR machines. The company also has been granted a priority right to supply the lab with up to 100,000 COVID PCR tests per day in the event the laboratory sees significant additional testing demand. Todos said its customer has inked an agreement with the state of Wisconsin to supply COVID-19 PCR tests.

Inc () (CSE:HUGE.CN) (FRA:0K9A) announced on Monday that it has submitted an Investigational New Drug Application (IND) application to the US Food and Drug Administration (FDA) for the use of its lead candidate FSD-201, or anti-inflammatory ultra-micronized-palmitoylethanolamide (PEA), to treat coronavirus (COVID-19) patients.

The company said that “severe COVID-19” is characterized by an “over-exuberant inflammatory response” that may lead to a cytokine storm and ultimately death. FSD Pharma is developing FSD-201 for its anti-inflammatory properties to avoid the cytokine storm associated with acute lung injury in hospitalized COVID-19 patients.

READ: FSD Pharma wins FDA nod to design Phase 2a clinical trial of its lead candidate micro-PEA to treat coronavirus patients

The trial will be a randomized, controlled, double-blind, US multicenter study at 25 to 30 sites, to assess the effectiveness and safety of FSD-201 dosed at 600 mg or 1,200 mg twice-daily, together with standard of care (SOC), versus SOC alone in hospitalized patients with documented COVID-19.

Asterion Cannabis Inc said Thursday its research partner had received sativa seeds for a tissue culture program designed to enable high volume and pathogen-resistant plant cultivation for medicinal purposes.

The Vancouver-based company said the seeds were received by the University of Queensland’s Queensland Alliance for Agriculture and Food Innovation (QAAFI) last week.

QAAFI has begun the program, which is aiming to expedite clonal propagation of elite sections of marijuana plants to allow for high-volume and uniform plant cultivation. Clonal propagation is the multiplication of genetically identical copies of individual plants.

READ: Asterion Cannabis updates on milestones in bid to become world’s largest pharma-grade medicinal cannabis supplier

In a statement, Asterion CEO Steven Van Deventer told shareholders that the firm was pleased that all the required regulatory approvals were received and the seeds are now in QAAFI’s possession. 

Heritage Cannabis Holdings Corp () () said Thursday it has started developing its full spectrum cannabis vape cartridges for Sugarbud Craft Growers Corp (CVE:SUGR) as part of its previously announced contract manufacturing agreement between the two companies.

Heritage’s subsidiary Voyage Cannabis Corp will produce the vape cartridges for Sugarbud using the latter’s high-quality cannabis, according to a statement.

The deal sees the two companies collaborating to develop pre-filled vape cartridges. Toronto-based Heritage will provide Sugarbud with extraction, formulation and production services in exchange for a minimum of 100,000 grams of dried cannabis per month for a 24-month period beginning May 1, 2020.

READ: Heritage Cannabis to collaborate with Sugarbud Craft Growers to bring pre-filled vape cartridges to Canadian consumers

"We are very pleased to be working with Sugarbud on the production of full spectrum vape cartridge products to support their cannabis 2.0 strategy," Heritage CEO Clint Sharples said in a statement.

AgraFlora Organics International Inc () (OCTMKTS:AGFAF) said it has received a necessary CRA tax license and is now creating test cannabis edibles products through its Health Canada licensed research & development (R&D) lab at the group’s edibles manufacturing facility in Winnipeg, Manitoba.

The company said through its R&D license it has now dialed in formulations for cannabis activated pectin and gelatin gummies, hard candy and sugar-free variants.

READ: AgraFlora Organics expects first harvest at its Delta greenhouse in fourth quarter 2020

"As part of the R&D program, we have begun a testing project with Agilent to improve testing standards, methods, and ensure consistent quality. Our efficient and highly automated R&D production allows us to provide a variety of sample products for our prospective clients to try for their established brands,” said James Fletcher, one of the founders and the operational manager of Edibles and Infusions Corporation, a joint venture formed between AgraFlora and one of North America’s leading confectionery manufacturing families.

AgraFlora also said it submitted its site evidence package to Health Canada for a processing license on May 28, adding that it is in regular contact with the body and remains committed to the timeline of receiving the license in the fourth quarter of 2020.

AgraFlora Organics International Inc () (OCTMKTS:AGFAF) has provided an update on progress at its flagship cultivation asset in Delta, British Columbia which embarked on planting using a curated portfolio of live-plant genetics in June this year.

Vancouver-based AgraFlora said the Delta facility expects to see its first harvest early in the fourth quarter of this year, with the first product available for sale of “low-cost, high potency cannabis strains” in the first quarter of 2021 on a wholesale basis. The company is in a joint venture with Propagation Services Canada Inc, which operates the 2.2 million-square-foot greenhouse complex in Delta, British Columbia.

AgraFlora said the "elite genetics" at the Delta facility has been tweaked to work with Propagation Services Canada's cultivation program and is expected to yield up to 44 varieties of strains to offer to its wholesale clients a “robust product offering,” while maintaining “strong cannabinoid and terpene content” plant yield every year.

READ: AgraFlora Organics International to exchange $3 million of debentures for shares

Inc () is entering the growing health and wellness sector thanks to the acquisition of private Canadian company, Plant & Co Marche.

The all-share transaction sees Toronto-based EuroLife acquiring the hybrid health and wellness brand with a downtown retail location that offers niche products for consumers with a focus on plant-based, vegan, vegetarian, hemp and specialty immune-boosting products.

Plant & Co’s downtown Toronto storefront in the bustling Little Italy neighbourhood boasts 2,200-square feet of retail space as well as a fully-licenced outdoor patio. EuroLife and Plant & Co are collaborating on a new design concept for the store to reflect a “modern European” aesthetic, according to the firm.

READ: EuroLife Brands zeroes in on North American operations, closes C$1M private placement

In a statement, EuroLife CEO Shawn Moniz told shareholders that the acquisition is an “excellent segue” into the growing health and wellness sector in Canada.

Heritage Cannabis Holdings Corp () (OTC:HERTF) signed a term sheet to launch a two-year joint venture with Cannahive Inc to produce cannabis-infused edible products, the company announced Tuesday. 

The venture, which the parties expect to kick off in September, will utilize Cannahive's formulations for the production of gummies and chocolates, while Heritage's CannaCure will provide the cannabis oil.

The products will be sold under Heritage’s brands to the provincial and territorial boards as well as licensed retailers in Canada.

READ: Heritage Cannabis to acquire Colorado-based oral and topical cannabinoid company, Opticann for an initial consideration of up to C$5M

Cannahive delivers experienced manufacturing management services and a portfolio of intellectual property and processing patents for pharma-grade commercial manufacturing of edible cannabis products, the company said,

Mojave Jane Brands Inc (CSE:JANE) (OTCMKTS:HHPHF) announced on Friday that, in line with a strategic review of its operations, it has struck an agreement to sell its 100% membership interest in Nelson & Mark LLC, which holds the CALIGOLD intellectual brand property.

On April 29, 2020, Toronto-based Mojave Jane announced that, in order to preserve shareholder value and continue as a going concern, its board had commenced a strategic review of its assets and liabilities, and is developing a go-forward plan.

As one of the outcomes of the review, Mojave Jane is selling its membership interest in Nelson & Mark to two former employees and original owners of its subsidiary HS Airway Holdings.

READ: Mojave Jane Brands announces further changes to its board as it continues with its strategic review

Inc () (OTCPINK:EURPF) released an investor update after the bell Tuesday, highlighting its shift toward the Canadian market in the wake of the coronavirus (COVID-19) pandemic as well as the closing of a private placement worth more than C$1 million. 

The company said it plans to leverage its previous Canadian medicinal cannabis experience and consumer analytics depository to target tertiary segments of the health and wellness sector in Canada and North America. 

Specifically, EuroLife’s goal is to establish a network of health and wellness retail locations focused on healthy lifestyle options, including specialty plant-based foods. The company said it has begun discussions with manufacturers, distributors and brokers in Canada to offer a vast selection of health and wellness products.

READ: EuroLife Brands opens retail location in Ingolstadt, Germany as part of expanding European footprint

Additionally, the company announced the closing of a non-brokered private placement, which offered nearly 6 million shares at a price of C$0.18 per share for total proceeds of more than C$1 million. The plan is to put those funds toward its North American operations, the company said.

() has announced the appointment of Rahim Mohamed to its board as an independent director as the company proceeds with its strategic rebranding to INDVR Brands Inc.

The group noted that Mohamed brings over 20 years of private and public sector experience having built an exceptional reputation in business development, capital markets, operational streamlining, mergers, acquisitions, and internal audits.

READ:Cannabis One appoints Alnoor Nathoo to board amid two executive-level departures

Mohamed, who is a member of the Private Capital Markets Association of Canada (PCMA) - formerly known as Exempt Market Dealers Association of Canada (EMDA) - currently serves as chief executive officer and a director of Softlab9 Technologies Inc.

In a statement, Joshua Mann, president and Interim CEO, commented: "I am extremely pleased to have Mr Mohamed join the Board of Directors. Rahim brings a wealth of capital markets experience from multiple industries including cannabis, technology and natural resources, and I have the utmost confidence that his contributions will have immediate impact as we undergo our strategic rebranding to INDVR Brands Inc. and begin to build awareness around our EBITDA positive assets."