Cannabis and Hemp Industry Investment News

Heritage Cannabis Holdings Corp () () (FRA:2UE) announced that it will begin selling its RAD branded products in Nova Scotia in March, after the company received its first order from the Nova Scotia Liquor Corporation (NSLC). 

Heritage Cannabis said its customers in Nova Scotia will soon be able to purchase RAD Vapes, RAD Shatter, and RAD Crumble, joining the company’s Premium 5 brand, which is already available at the NSLC. 

“We are very pleased to see our RAD brand accessible to cannabis consumers in the Nova Scotia market as we continue to focus on expanding our product and brand availability across Canada,” Heritage Cannabis Holdings President of the Recreational Division David Schwede said in a statement. 

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

He added: “Similar to the popularity of our other products – many of which sell out quite quickly once available – we expect Nova Scotians to have a positive reaction to these high-quality, favourably priced products. We will be bringing additional innovative products to this market and others in the coming months.”

Heritage Cannabis Holdings Corp () () (FRA:2UE) reported fiscal 2020 gross revenue of $9.3 million, even as COVID-19 weighed on the company’s first full year of sales. 

Heritage Cannabis noted that its revenue in FY2020 was composed primarily of proceeds from third-party contracts, as branded provincial sales didn’t start until late 2020. 

“During the past year, we continued to build the foundation of our company by moving the focus toward introducing our own brands and capacity expansion, and making acquisitions to support our long-term vision of delivering sustainable value to shareholders,” Heritage Cannabis Holdings CEO Clint Sharples said in a statement.

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

He added: “The business definitely accelerated in 2020 despite the challenges brought on by the pandemic, and we expect to be well on our way to profitability this year with the integration of the recent acquisitions of Premium 5 and Opticann.”

AgraFlora Organics International Inc () (FRA:PU31) (OTCPINK:AGFAF) has said Propagation Services Canada Inc (PSC), its flagship cultivation asset located in Delta, British Columbia, is continuing its momentum towards first commercial sales and is expected to report initial revenues in the summer of 2021.

The cannabis firm noted that the first commercial crop for sale will include three proprietary strains - Mimosa 37, Kosher Kush, and Gelato - which it said have been selected for their strong demand in Canada’s dried flower market, as well as their growing attributes within the greenhouse environment which align with their low-cost high-THC cannabis attributes.

READ: AgraFlora Organics expects to enter Canadian edibles market in 1Q 2021

AgraFlora added that PSC has gathered valuable data from crops grown to date and continues to “develop and strategize to further aid in its positioning as a leader in low-cost product”.

The firm also said recent modifications and calibrations provided by an international partner to existing drying rooms have allowed PSC to almost double anticipated drying capacity for a minimal investment, and that PSC will be optimizing its propagation operations by fine-tuning its climate strategy to produce healthy, rooted cuttings more quickly with high success rate monitoring irrigation mixtures to produce custom nutrient formulations for each stage of plant growth.

Heritage Cannabis (CSE: CANN- OTCQX: HERTF) CEO Clint Sharples joined Steve Darling from Proactive with an update from the company including when they plan on launching products for medical use in Canada and the United States.

Sharples discusses that launch and also the success they are seeing on the recreational side with products in BC and Alberta and soon other provinces as well.

Heritage Cannabis Holdings Corp () () (FRA:2UE) updated shareholders Wednesday on a host of new developments related to its recreational brands in Canada and medical products in the US and abroad. 

The cannabis company said it had started shipping derivative products under its RAD brand to both BC and Alberta for sale across authorized channels in the provinces. 

In addition, the company said it had applied for a flower sales licence from Health Canada to support the planned launch of RAD Reefer and RAD Doobies and submitted other brand SKUs to provincial regulators in eight additional provinces. 

READ: Heritage Cannabis Purefarma and Pura Vida products now available on genetics site myDNA.live

The company said it is hoping to see products listed in Quebec by 2Q 2021.

FSD Pharma Inc. (NASDAQ:HUGE) (CSE:HUGE) said it has entered into an equity sales agreement with A.G.P./Alliance Global Partners covering the sale of Class B subordinate voting shares of the company on an 'at-the-market' basis.

The company said it expects to use any net proceeds of the offering to finance future growth opportunities, including acquisitions and investments, to finance its capital expenditures, for working capital purposes or for general corporate purposes, and in particular, to continue advancement of the near-term objectives with respect to its R&D program for the commercialization of ultramicronized-palmitoylethanolamide (FSD201).

READ: FSD Pharma says first patient dosed in Phase 2a clinical trial of FSD201 to treat hospitalized patients with COVID-19

The company said no offers or sales of Class B shares will be made in Canada on the Canadian Securities Exchange or other trading markets in Canada. The sales, if any, of Class B shares made under the sales agreement with A.G.P./Alliance Global Partners will be made by means of ordinary brokers' transactions on the Nasdaq at prevailing market prices for the Class B shares at the time of sale, or as otherwise agreed upon by the company and the sales agent.

The offering is being made by way of a prospectus supplement dated February 11, 2021, covering the sale of up to US$20 million of Class B shares to the company's existing US registration statement on Form F-10 and Canadian short form base shelf prospectus, each dated June 16, 2020. 

GSRX Industries Inc (OTCPINK:GSRX) announced Thursday that it will be launching a virtual delivery only restaurant (VDOR) called Wrap Hack Café in March. 

The first Wrap Hack Café will serve the State College, Pennsylvania market, the company said, utilizing the GrubHub network to deliver orders. 

State College is home to Penn State University, with an annual enrollment of more than 45,000 graduate and undergraduate students, making it one of the largest universities in the US. 

READ: GSRX Industries rebranding its corporate identity and opening new business vertical in restaurant industry

"Food delivery apps have been reshaping the restaurant industry, and with the disruption of the COVID-19 pandemic, how and where people eat has dramatically changed,” CEO Troy Nihart said in a statement. “We will continue to build out more VDORs, with leaner operational and start-up costs, that can quickly adapt to emerging food trends. VDORs will be a permanent fixture of business operations in the foodservice industry." 

The company also recently announced plans to relocate its corporate headquarters to Pennsylvania from Puerto Rico. 

Heritage Cannabis Holdings Corp () () (FRA:2UE) reported that the company’s Purefarma and Pura Vida products are now available on the EndoDNA website myDNA.live, which identifies how an individual’s specific genetic makeup interacts with cannabinoids and terpenes. 

Heritage Cannabis said the EndoDNA test, which is available on endodna.com, guides individuals based on these results, and provides genetically aligned product recommendations, which will offer individuals a more optimal experience with cannabis.

“Having our products available through myDNA.live is another channel for consumers to access our award-winning products, and to provide individuals with the tools and resources to make confident decisions when incorporating cannabis into their lives,” Heritage Cannabis CEO Clint Sharples said in a statement. 

READ: Heritage Cannabis receives first order from the Ontario Cannabis Store for its Purefarma and Pura Vida products

He added: “We continue to expand our product offerings throughout Canada’s provincial boards, and online platforms in an effort to maximize consumer access to our sought-after products.”

Heritage Cannabis Holdings Corp () () (FRA:2UE) reported that it intends to issue up to 86 million units of the company in an equity financing at a price of $0.14 per unit, for total gross proceeds of up to $12,040,000.

Heritage Cannabis said it plans to use the net proceeds to purchase additional biomass, packaging materials and equipment, product development and for working capital and general corporate purposes. 

The company noted that the units being offered will consist of one common company share plus one common share purchase warrant, allowing the holder to purchase one common share of the company at any time for a period of 24 months following closing of the offering at an exercise price of $0.21 per common share. 

READ: Heritage Cannabis says subsidiary CannaCure in deal for distribution of CBD and THC pharmaceutical products in Brazil

Heritage added that it intends to apply to the Canadian Securities Exchange (CSE) to list the warrants on the CSE, subject to satisfying all conditions to listing.

Mojave Jane Brands Inc (CSE:JANE) (OTCMKTS:HHPHF) has appointed Mervyn Pinto as CEO, CFO, and as a director of the company. 

In a statement Tuesday, the Toronto-based company said that Pinto is currently the president and CEO of Minaean SP Construction Corp. 

Pinto also has been a director and executive officer of various publicly traded companies including Kepler Acquisition Corp, which later completed its qualifying transaction with ESE Entertainment Inc, Mojave Jane added. 

Pinto’s appointment follows the immediate resignation of Campbell Birge as chief executive officer and chief financial officer.

“The company would like to thank Mr. Birge for his time serving as a CEO and CFO,” the company said, adding that Birge will remain as a director of the company.

Heritage Cannabis Holdings Corp () () (FRA:2UE) reported that it has filed a preliminary short form prospectus with the securities commissions in the provinces of British Columbia, Alberta, Ontario and Nova Scotia in connection with an overnight marketed public offering of units of the company. 

Heritage Cannabis said it plans to use the net proceeds to purchase additional biomass, packaging materials and equipment, product development and for working capital and general corporate purposes. 

The company noted that the units being offered will consist of one common company share plus one common share purchase warrant, allowing the holder to purchase one common share of the company at any time for a period of 24 months following closing of the offering. 

READ: Heritage Cannabis says subsidiary CannaCure in deal for distribution of CBD and THC pharmaceutical products in Brazil

Heritage Cannabis added that the final pricing of the units, the warrant exercise price and the determination of the number of units to be sold pursuant to the offering will be determined in the context of the market before filing of the final short form prospectus in respect of the offering.

Heritage Cannabis Holdings Corp () () (FRA:2UE) reported that it has received the first order from the Ontario Cannabis Store (OCS) for the company’s Purefarma and Pura Vida branded products. 

Heritage Cannabis said that with these orders, it now has three brands available in Ontario, including the company’s newly-acquired Premium 5 brand that been available at the OCS since early December 2020. 

“This initial order from Ontario will bring Heritage’s award-winning Purefarma and Pura Vida full-spectrum products to consumers in the province, expanding our brand exposure across the country. They join the very popular Premium 5 branded products in the fastest expanding market in Canada,” Heritage Cannabis Holdings CEO Clint Sharples said in a statement.

He added: “As we have experienced in other provinces where these products are available, we expect our tinctures to be in high demand.”

GSRX Industries Inc (OTCPINK:GSRX) announced Friday that its board of directors has approved a rebranding of its corporate identity. 

In addition, the company said it is opening a new business vertical in the restaurant industry, focusing on the growing opportunities in underserved markets and will relocate its corporate headquarters to Pennsylvania from Puerto Rico. 

"The rebranding of the GSRX corporate identity is part of the company's ongoing strategy to evolve its business and create a foundation for new opportunities," said Interim CEO Troy Nihart in a statement. 

"The company will be entering the restaurant industry in underserved rural markets with a beginning focus on delivery, drive-up, and curbside provisions. There is a huge demand for these services due to the disruptive COVID-19 pandemic in rural markets,” Nihart said.

Heritage Cannabis Holdings Corp () () (FRA:2UE) reported that it has completed its previously-announced acquisition of Canadian recreational and medical cannabis company Premium 5 Ltd. 

Heritage Cannabis said the combined company is expected to be a market leader in the extract and extract derivatives market, as Premium 5 is a premium provider of Cannabis 2.0 hydrocarbon and solventless concentrates in Canada. 

“This transaction delivers on several critical strategic objectives, including immediate coast to coast sales and an impressive catalog of products for both the provincial boards and consumers across Canada,” Heritage Cannabis CEO Clint Sharples said in a statement.

READ: Heritage Cannabis buys full spectrum cannabis concentrate producer Premium 5 for C$21M in stock

He added: “We continue to build out our strong product development pipeline catering to multiple consumer categories and price points, and the addition of Premium 5 will expand our reach and accelerate the growth of our domestic and international platform.”

Heritage Cannabis (CSE: CANN- OTCQX: HERTF) CEO Clint Sharples and President, Medical Division Umar Syed joined Steve Darling from Proactive to share news the company has signed a 3-year extraction supply deal with Entourage Phytolab S.A. for the distribution of pharmaceutical products in Brazil.

Sharples telling Proactive more about the details of this deal while Syed talks about the further expansion of their full-spectrum, high-quality extractions and medical softgel capsules.

() () (FRA:2UE) announced Tuesday that its subsidiary CannaCure Corp has entered into a binding letter of intent with Entourage Participações SA for a three-year extraction and finished product supply agreement for the distribution of pharmaceutical products in Brazil.  

Under the terms of the agreement, Heritage said it will supply to Entourage Phytolab, hemp-derived CBD dominant extract, cannabis-derived THC dominant extract, and hemp-derived CBD 25 milligram (mg) softgels and cannabis-derived THC dominant 2.5 and 5.0 mg softgels. 

CannaCure will provide cannabis and hemp products to be used strictly for pharmaceutical products that comply with regulations issued by the Brazil Health Authority (Anvisa), which include GMP certification and GMP compliant products. CannaCure is currently in the process of obtaining GMP certification. 

READ: Heritage Cannabis announces the launch of Premium 5’s new brand RAD

CannaCure also will supply initial products for Entourage Phytolab’s formulation and research and development purposes by February 2021, with commercial orders to be delivered following CannaCure receiving EU GMP certification estimated in the latter half of 2021. CannaCure and Entourage Phytolab also have established minimum order quantities.

AgraFlora Organics International Inc () (FRA:PU31) (OTCPINK:AGFAF) said Wednesday it expects to enter the Canadian edibles market in the first quarter of 2021. 

In a statement, the company said it has completed the first phase of research and development trials at its Health Canada-licensed, 51,000 square-foot, fully automated edibles manufacturing facility in Winnipeg, Manitoba. 

Prior to receiving a standard processing license from Health Canada, the company had commenced cultivating long-term production relationships through R&D trials utilizing the company’s Health Canada R&D license. 

READ: AgraFlora Organics receives cannabis edibles processing licence for its Winnipeg manufacturing facility

And now that the development phase of the R&D trials is now complete and the company has created efficient processes for desired formulations and products, AgraFlora said it is nearly prepared to enter the edibles market soon.  

Heritage Cannabis Holdings Corp () () (FRA:2UE) reported the launch of a new Premium 5 brand RAD, in connection with its pending acquisition of Canadian recreational and medical cannabis company Premium 5 Ltd. 

The company said RAD is being introduced in response to consumer demand for more affordable cannabis concentrate offerings. 

“There is a strong market for our product offerings through Premium 5, but we acknowledge the growing consumer demand for more affordable concentrate offerings,” said Premium 5 CEO David Schwede in a statement. 

READ: Heritage Cannabis buys full spectrum cannabis concentrate producer Premium 5 for C$21M in stock

He added: “With RAD, we aim to leverage our strong reputation to delight our consumers with quality products at a value price point.”

Heritage Cannabis Holdings Corp () () announced that it has placed its first purchase order with IntelGenx Corp () (OTCQB:IGXT) for 50,000 CBD Filmstrips, as part of a definitive agreement to supply the Canadian and Australian markets.

IntelGenx expects to make its first shipment of the filmstrip products, which are manufactured using IntelGenx’s VersaFilm technology and contain 10 mg of CBD, to Heritage in 2Q 2021.

“Rapidly dissolving CBD Filmstrips provide tangible benefits for medical cannabis consumers by providing a more discreet and convenient administration method,” said Heritage Cannabis President of the Medical and International Division Umar Syed in a statement.

READ: Heritage Cannabis buys full spectrum cannabis concentrate producer Premium 5 for C$21M in stock 

He added: “As we continue to build a wide spectrum of medical cannabis products that offer both traditional and newer delivery platforms, we are excited to be at the stage where we will be distributing CBD Filmstrips in Canada and Australia.”

Heritage Cannabis Holdings Corp () () announced a definitive agreement Wednesday to acquire Canada-based recreational and medical cannabis company Premium 5 Ltd in a stock transaction.

Premium 5 creates high-quality full spectrum concentrates and successfully introduced one of the first hydrocarbon products in the Canadian recreational and medical markets. It was also the first to launch live resin vapes, the company said, and it currently offers two brands in eight provinces across Canada, as well as Shelter Market and Shoppers Drug Mart.

Heritage will pay Premium 5 C$21 million in common shares, plus additional shares to compensate the Premium 5 shareholders for net working capital, the company said. The agreement also includes a series of revenue growth and gross margin milestones over the next 24 months that could allow Premium 5 to earn an additional C$20 million in Heritage shares.

READ: Heritage Cannabis set to expand into Brazil as it strikes deal with CannaBR Exports Corp

The company is best known for its namesake brand — Premium 5 — which is first in the premium hydrocarbon and solventless concentrates category, as well as the newly launched RAD value brand which is first in the value hydrocarbon concentrate, flower and distillate vape categories.