Harvest Health & Recreation Enters into Strategic Relationship with First Provisioning Center in Michigan
Multi-State, Vertically Integrated Cannabis Company Licenses Name and Branding to Store in Battle Creek, Partnership to Bring Best-in-Class Products & Retail Experience to Michigan
PHOENIX, Jan. 20, 2020 /HalcyonTV/ -- Harvest Health & Recreation Inc. (CSE: HARV, OTCQX: HRVSF) ("Harvest"), a vertically integrated cannabis company with one of the largest and deepest footprints in the U.S., today announced a strategic relationship with Harvest of Battle Creek, a new provisioning center in Michigan. The new partnership continues Harvest's successful expansion into new markets and demonstrates the company's commitment to increasing patients' and customers' access to best-in-class medical marijuana experiences.
"We're thrilled for this relationship to build our presence in Michigan at such an exciting time for the state's burgeoning medical marijuana market. With the recent start of recreational sales, Harvest is in a prime position to contribute to the market's growth and success," said Harvest CEO Steve White. "Michigan's commitment to ensuring consumers have access to only the highest quality products aligns perfectly with Harvest's mission, and we look forward to serving the Battle Creek community."
Harvest of Battle Creek will license the Harvest name and branding and will work collaboratively with Harvest to train employees and develop operating procedures based on Harvest's extensive nationwide retail experience. Harvest of Battle Creek is located at 3769 West Michigan Ave. and is open Monday through Sunday from 9:00am to 9:00pm.
Marijuana Company of America's Subsidiary hempSMART Signs Definitive Sales Agreement to Offer "Ultra-Clean Label" CBD Beverage Products
- hempSMART to launch "ultra-clean label" CBD beverage product line via a sales agreement with MCTC Holdings that could revolutionize the beverage industry
- hempSMART hits the ground running with its wholesale program, which is representative of the Company's new corporate strategy under new leadership
ESCONDIDO, Calif., Jan. 17, 2020 /HalcyonTV/ -- Marijuana Company of America Inc. ("MCOA" or the "Company") (OTCQB: MCOA), an innovative hemp and cannabis corporation, is pleased to announce that the Company's wholly owned subsidiary, hempSMART Inc., has signed a definitive sales agreement to purchase ultra-clean label CBD beverage products from MCTC Holdings Inc. (OTC: MCTC), a science and technology innovation company focused on developing patented hemp extract infusion technologies and the sustained release of cannabinoids in the human body.
These new hempSMART™ branded products will be unique to the marketplace. During the initial stage, MCOA will offer a line of powdered drink mixes containing broad-spectrum hemp extracts with over 35 milligrams of CBD derived from all-natural extraction processes. Future offerings will include other powdered and pre-mixed beverages. The entire drink line will be based on some of the finest ingredients available to the marketplace, with a heavy emphasis on organic components where available.
Mr. Jesus Quintero, Chief Executive Officer of MCOA, stated, "At MCOA and hempSMART, it is all about the label and offering the highest quality products to our customers. With this line of drinks, we will be offering our customers a clean and healthy label that is currently absent in the marketplace. There are no chemicals, surfactants, or preservatives in this product line, and while we are not able to obtain full organic certification due to federal restrictions, we are at 95% organic for the entire line. It's a product line we feel great about offering to our customers."
Trevor Muehlfelder, Chief Operating Officer of hempSMART, said, "We are quite excited to unveil our new, ultra-clean label product line of CBD-infused powdered drink mix. The products are based on a unique dual-hemp extract infusion process that's unlike most products and have no artificial ingredients or chemicals. Our new product line is based on organic ingredients, including organic inulin from vegetables and trace amounts of organic coconut and sunflower oils, combined with a touch of CBD-infused honey produced at organic farms. This will truly be a unique, clean label product offering. We believe our new powdered drink line will revolutionize the beverage marketplace in the new 20's the same way Coca Cola did in the 1920's."
Mr. Arman Tabatabaei, Chief Executive Officer of MCTC Holdings Inc., commented, "We have developed a truly unique hemp extract drink product that will be offered to consumers through the new hempSMART wholesale distribution channels. We are elated to partner with MCOA and present Hemp You Can Feel™ beverage products to consumers."
Please visit www.hempsmart.com for more details about the new marketing initiatives and positive changes made to the affiliate marketing program.
Financialnewsmedia.com News Commentary
PALM BEACH, Florida, Jan. 14, 2020 /HalcyonTV/ -- Cannabis is back in Congress. Just months after the House Judiciary Committee approved the Marijuana Opportunity Reinvestment and Expungement (MORE) Act, cannabis legalization will be the subject of another debate in and Commerce Subcommittee, reports Marijuana Moment. "As public opinion continues to evolve and cannabis policies change at all levels of government, it's important to bring federal agency officials together to discuss current and future federal cannabis policies," Energy and Commerce Chairman Frank Pallone (D-NJ) and Health Subcommittee Chairwoman Anna Eshoo said. "We're particularly interested in examining the implications of changing marijuana's schedule listing, the potential of cannabis research, and federal efforts to review and approve cannabidiol products." As excitement builds for potential rescheduling, it's creating sizable opportunity for companies including Terrace Global Inc. (TSX-V:TRCE), OrganiGram Holdings Inc. (NASDAQ:OGI)(TSX-V:OGI), The Green Organic Dutchman (TSX:TGOD)(OTCQX:TGODF), Canopy Growth Corporation (TSX:WEED)(NYSE:CGC), and Charlotte's Web Holdings Inc. (OTCQX:CWBHF) (CSE:CWEB).
Terrace Global Inc. (TSXV:TRCE) BREAKING NEWS: Terrace Global Inc. just announced that effective January 13, 2020, John Chou has been appointed as the Company's Chief Financial Officer. John brings extensive expertise in financial reporting and in dealing with operations in emerging markets, having served in a number of senior roles in his over fifteen years of professional experience. Previously, John was the Vice-President, Finance of Gran Colombia Gold Corp., a leading gold producer with operations in Colombia. Prior to that John was the Vice-President, Finance of Frontera Energy Corp., a leading oil and gas producer in Colombia and previously a senior associate with Deloitte in Toronto. "We are very pleased to have John join our team. His global experience will be a key as for us as we grow our businesses internationally," commented Francisco Ortiz von Bismarck. "We would like to thank Leon Dadoun for his time with the Company and wish him every success going forward."
Other cannabis-related developments from around the markets include:
OrganiGram Holdings Inc. (TSXV:OGI)(NASDAQ:OGI) announced the first of its 'Cannabis 2.0' products have been released, including Trailblazer Spark, Flicker and Glow 510-thread Torch vape cartridges. Shipments of the custom-designed cartridges were sent to Manitoba, Saskatchewan, Ontario, New Brunswick and Nova Scotia, starting December 17, from the Company's Moncton production campus. The first release from Organigram's suite of vaporizer offerings affirms the Company's commitment to supporting Canadians' access to a variety of regulated recreational cannabis products. "As a company, bringing the next-generation of cannabis products to market without delay was important to us. We are proud to support access to tested, quality derivative-based products that we expect to help strengthen the regulated market and benefit those who prefer those product types over others," said Greg Engel, CEO, Organigram. "Being one of the first licensed producers in the country ready to provide vape products, following the expiration of Health Canada's 60-day notification period, illustrates that degree of focus and commitment. It speaks to an extraordinary effort by our internal teams who helped bring the Trailblazer Torch to market."
The Green Organic Dutchman (TSX:TGOD)(OTCQX:TGODF) announced changes to streamline its leadership structure. The Company's President, Mr. Csaba Reider, will be departing the organization. Mr. Reider's duties will be assumed by the Company's CEO, Brian Athaide. Mike Gibbons, Vice President of Sales, is also leaving the organization. Robert Gora, Vice President of Medical Commercialization, will assume the consolidated role of Vice President, National Sales, leading sales and revenue generation across medical and recreational channels. "The changes we announce today are part of a comprehensive review of our operations to reduce costs and improve cash flow. This will result in significant G&A savings and a leaner more efficient organization. We are also very focused on ramping up production, expanding our product portfolio with innovative organic products and gaining market share across the country." commented Brian Athaide, CEO of TGOD.
Canopy Growth Corporation (TSX:WEED)(NYSE:CGC) announced that it will be working with a total of ten recently-announced Ontario retail license holders to open new Tokyo Smoke branded retail cannabis stores across the province. In addition to the five locations announced in November 2019, the following five locations are now progressing through the process to open doors in 2020: 1180 Queen Street West, Toronto, ON; 21 Bloor Street East, Toronto, ON; 235 James Street North, Hamilton, ON; 2257 Rymal Road East, Unit D-1, Stoney Creek, ON; 1000 Wellington Avenue Unit 101, Ottawa, ON. "With ten new stores set to open in the first half of this year, we are pleased with the momentum we've built and excited to bring the Tokyo Smoke experience to more Ontarians," said Rade Kovacevic, President, Canopy Growth. "Increasing Tokyo Smoke's presence across the province will expand access to high-quality cannabis products and education, continuing to migrate cannabis sales from the illicit to the regulated market." Once licensed, this will bring the number of Tokyo Smoke branded retail cannabis stores in Ontario to a total of 12, joining Tokyo Smoke 333 Yonge at Dundas Square in Toronto, and Tokyo Smoke Oshawa. All ten of the new locations have been posted to the Alcohol and Gaming Commission of Ontario's ("AGCO") website and nine have completed the Public Notice period, progressing to the next stage in the licensing process.
Charlotte's Web Holdings Inc. (OTCQX:CWBHF)(CSE:CWEB) announced that it has closed its previously announced underwritten public offering for aggregate gross proceeds to the Company of C$66,250,000. A total of 5,000,000 units of the Company, at a price of C$13.25 per Unit were sold pursuant to the Offering. The Offering was led by Canaccord Genuity Corp., together with a syndicate of underwriters including Cormark Securities Inc., Eight Capital, and PI Financial Corp. Each Unit was comprised of one common share of the Company and one half of one common share purchase warrant. Each Warrant will be exercisable to acquire one common share for a period of 2 years following the closing date of the Offering at an exercise price of C$16.50 per Warrant Share, subject to adjustment in certain events. Charlotte's Web has also granted the Underwriters an option (the "Over-Allotment Option") to purchase up to 750,000 additional Units of the Company on the same terms as the Offering, exercisable within 30 days of the closing of the Offering. Net proceeds from the Offering will be used primarily to fund the Company's business development and for general working capital purposes. The Units were offered in each of the provinces of Canada, other than Québec, pursuant to the Company's base shelf prospectus dated April 8, and were also offered by way of private placement in the United States to "qualified institutional buyers". The terms of the Offering are described in a prospectus supplement dated November 27, 2019.
CoCo Farms Facility's Phase 1 is Now Open
ANTIOCH, Calif., Dec. 27, 2019 /HalcyonTV/ -- Contra Costa Farms LLC (aka CoCo Farms) opened on December 24 at 8AM in Antioch, CA. CoCo Farms is one of Antioch's First Recreational Cannabis Dispensaries to open since Prop 64 passed in 2016. The licensed Cannabis facility is owned and operated by the same management team as its sister company Rio Vista Farms. Rio Vista Farms has become a pillar of the community, providing over 100 jobs to adults in the area.
The facility in Rio Vista has been able to support the community and the owners hope to continue that in in Antioch. Prior to December of 2019 there was not a licensed dispensary in the area. CoCo Farms hopes to set a standard for Cannabis businesses coming into the area by providing a safe and welcoming environment for consumers and the neighborhood.
Located in the heart of Contra Costa County, CoCo Farms is permitted to sell cannabis to anyone 21+ with a government-issued ID card. CoCo Farms will be open 7 days a week 8AM to 8PM. They will have a full menu of cannabis products including indoor, greenhouse, and sun grown Cannabis Flower, Concentrates, Vape Cartridges, Edibles, Tinctures, and more. Because Rio Vista Farms & CoCo Farms are owned by the same company, consumers will accrue loyalty points with purchases that can be redeemed at either location.
In addition to providing jobs, tax dollars, and quality cannabis products, CoCo Farms has developed a social equity program for children of Antioch residents who have been incarcerated. This philanthropic effort aims to provide resources to support these children's needs, and which may not be provided by existing city, county and state services. Contra Costa Farms was approved by the Antioch City Council in early September of 2019. They were approved for their California State Cannabis Retail License in November of 2019 (C12-0000279-LIC).
The final project will include a large cultivation complex containing about 130,000 square feet of canopy, distribution, manufacturing as well as a retail storefront with delivery. The project is expected to be complete by the end of 2021. Contra Costa Farms LLC is located at 3400 Wilbur Ave, Antioch, CA. You can find more information about CoCo Farms at their website www.enjoycocofarms.com
TORONTO, Dec. 23, 2019 /HalcyonTV/ - National Access Cannabis Corp. (TSXV: META) d/b/a Meta Growth ("Meta Growth", "META" or the "Company"), Canada's largest publicly traded recreational cannabis retailer by revenue1, today announced its financial results for the fourth quarter and fiscal year ended August 31, 2019. All amounts are expressed in Canadian dollars.
Q4 2019 Financial Highlights
For a more comprehensive overview of the financial highlights presented in this press release, please refer to Meta Growth's Audited Consolidated Financial Statements for the years ended August 31, 2019 and 2018, and the Company's Management Discussion and Analysis for the year ended August 31, 2019. Both of these documents are available on the Company's SEDAR profile at www.sedar.com.
There are measures included in this news release that do not have a standardized meaning prescribed by IFRS and therefore may not be comparable to similarly titled measures and metrics presented by other publicly traded companies. The Company includes these measures because it believes certain investors use these measures and metrics as a means of assessing financial performance. EBITDA (earnings before interest, taxes, depreciation and amortization) is a non-IFRS financial measure that does not have any standardized meaning prescribed by IFRS and may not be comparable to similar measures presented by other companies.