Cannabis News
Aurora Cannabis (NYSE: ACB) has partnered with Mexican pharmaceutical manufacturer and distributer Farmacias Magistrales. In a press statement, Aurora said that Farmacias recently received the first and only import license from the Federal Commission for Protection Against Health Risks, the Mexican government body responsible for medical cannabis licensing, to import Aurora medical cannabis products containing THC into Mexico.
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In a separate news release, Aurora Cannabis said that it intends to acquire all of the issued and outstanding shares of Farmacias Magistrales, subject to customary due diligence provisions, the completion of definitive agreements, and regulatory and government approval. “Consideration to be paid for the acquisition of Farmacias will be in shares of Aurora and based on a valuation of the proforma distribution revenue projections of Farmacias,†the company said in the release.
North American Cannabis Holdings (USOTC: USMJ) released a letter from its CEO Steven Rash discussing the potential for the overall cannabis industry to be realized from the 2018 Farm Act that includes, as drafted, the legalization of hemp farming. “The legalization of hemp farming will bring a sweeping and comprehensive impact to numerous industries to include farming, pharmaceuticals, construction, and energy – to name only a very few,†states the letter which can be found here.
iAnthus Capital Holdings (OTCMKTS:ITHUF), which owns and operates licensed cannabis cultivation, processing and dispensary facilities in the U.S., announced that it has granted 1,367,500 incentive stock options, exercisable at C$6.00 per stock option, to advisory board members, consultants, and employees of the company, as of December 7, 2018.
ICC Holdings (NASDAQ: ICCH) has received the board approval to evaluate options for offering its current insurance policies to cannabis-related businesses. With the recent decision by the state of Michigan to legalize recreational cannabis, the company has now begun the process of exploring opportunities to provide insurance for cannabis dispensaries in those states where adult recreational use of cannabis is legal, according to a press statement.
Pyxus International (NYSE: PYX) subsidiary FIGR has named Harvey Carroll as new president, effective immediately. Carroll brings more than 25 years of experience in the alcohol beverage, food, and media and communications industries to the FIGR leadership team. Most recently, he served as the CEO of Canadian operations for IPG Mediabrands.
Kali-Extracts (USOTC: KALY) has signed a $300,000 contract with Puration (USOTC: PURA) to produce custom hemp-derived CBD extracts. Kali recently acquired a patented cannabis extraction process in a reverse merger transaction with NCM Biotech.
Green Relief, a producer of medical cannabis, has officially acquired possession of a new facility in Stoney Creek, Ontario. The 100,000-square-foot facility, located at 565 Seaman St., will increase the company’s annual output from 2,800 kg to a total of about 17,800 kg. The facility will require a $9-million retrofit to become operational in compliance with Health Canada regulations.
The State of Michigan Medical Marihuana Licensing Board has approved 10 class C cultivation licenses to Green Peak Innovations (GPI). The licenses will be operated at the company’s headquarter facility at Harvest Park located in Windsor Township. Green Peak was pre-qualified for 12 class C cultivation licenses, one processor license and 19 provisioning center licenses in July 2018. The first two class C cultivation licenses were approved at October’s Licensing Board meeting and are in production at GPI’s Lansing facility.
Marijuana brand and management firm Diego Pellicer Worldwide (OTCQB: DPWW) reported a 150% increase in gross revenue for its Colorado dispensary from Dec. 1, 2017, to Dec. 1, 2018. Diego Pellicer was named the “Best Retail Center†and “Most Valuable Brand of the Year†at the 2018 National Cannabis Business Awards.
Alternate Health (OTCQB: AHGIF), which offers technology solutions for the regulated cannabis industry, has closed a non-brokered private placement of 12.74 million common shares at C$0.40 per common share for C$5.10 million. The shares are subject to a four month and one day hold period in accordance with Canadian securities laws. The company intends to use the proceeds to improve its distribution and product development activities as well as for general working capital purposes.
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