AgMedica Bioscience Inc. (“AgMedica” or the “Company”), a licensed producer of cannabis for medicinal and adult-use consumers, is pleased to announce that it has received approval from Health Canada for a license amendment allowing for the sale of cannabis oil products, effective May 31, 2019. The cannabis oil sales license enables AgMedica to provide medicinal patients and adult-use consumers with greater choice through a portfolio of bottled oils that includes CBD, THC and Balanced varieties, all of which are considered higher-demand products.
AgMedica is currently generating full-spectrum extracts via supercritical CO2 extraction and as previously announced on March 5, 2019, will supplement this method with its exclusive Canadian license for the unique Herbolea Biotech extraction method, Bio-Herbolysis™, subject to receiving all required regulatory approvals. Bio-Herbolysis™ is a patent-pending, disruptive extraction technology that offers a significant cost advantage over CO2 or ethanol. Bio-Herbolysis™ delivers a high-quality, solvent-less extraction with a simple one-step process that is industrially proven and offers significant operational and investment savings. The process utilizes low temperatures and supports the direct input of wet material which results in a true full-spectrum extract within four hours, maintaining the presence of volatile terpenes which give cannabis its characteristic flavour and aroma, as well as the potential to provide cannabinoids in their original acidic form.
The Bio-Herbolysis™ process equipment, capable of processing up to 20 kg/hour on a continuous basis, has been received and is in the process of being commissioned for use following Health Canada approval. Later in 2019, AgMedica plans to implement larger-scale continuous processing equipment for the Company’s own products and potentially to meet the extraction needs of other licenced cannabis producers. All of these factors help open channels for AgMedica’s access to global markets.
“With our oil sales license now in hand and the potential to leverage the innovative Bio-Herbolysis™ extraction technology, AgMedica is ideally positioned to gain access to international markets for our products,” said Dr. Trevor Henry, AgMedica’s CEO. “I am proud of the continued success realized by AgMedica as we develop further differentiated products that positively contribute to the ongoing evolution of the cannabis sector.”
Receiving the oil sales license represents another key milestone in AgMedica’s path toward becoming a global leader in the development and commercialization of cannabis and cannabis-derived products designed to support client health and wellness. Since late 2017, the Company has secured all regulatory approvals required to harvest and sell cannabis, which has contributed to the ongoing growth and enhancement of the business.
About AgMedica Bioscience Inc.
As a licensed producer of medicinal cannabis, AgMedica is dedicated to becoming a global leader in the development and commercialization of cannabis and cannabis-derived products to support the health and wellness of our clients. We aspire to drive the evolution of the cannabis industry by focussing investment on the development and commercialization of differentiated products in the medicinal, health & wellness and pharmaceutical sectors. For further information, please visit our website at www.agmedica.ca.
For media or other inquiries, please contact:
AgMedica Bioscience Inc.
Sengkee Ahn, MBA, FEA
Vice President, Investor Relations and International Business Development
This press release contains forward-looking information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. These risks and uncertainties include, but are not limited to, the availability of further financing, consumer interest in its products, competition, regulation, operational and technological risks, and anticipated and unanticipated costs and delays. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law.
Andrea Duchene AgMedica Bioscience Inc. 5194372190 firstname.lastname@example.org
CanBud Distribution Corporation Closes 2M Second and Final Tranche of its Oversubscribed Private Placement Offering
CanBud Distribution Corporation (CSE: CBDX) (FSE: CD0) (“CanBud” or the “Corporation”) is pleased to announce that it has closed the final tranche of its oversubscribed non-brokered private placement for aggregate gross proceeds of approximately $4,730,000 (the “Offering”).
The Corporation issued a combined total of 39,409,346 units (each a “Unit“) at price of $0.12 per Unit, with each Unit comprised of one common share in the capital of the Corporation (each a “Common Share“) and one common share purchase warrant (each a “Warrant“). Each Warrant entitles the holder to purchase one additional Common Share at an exercise price of $0.22 within 24 months of the closing of the Offering (the “Warrant Term“), provided, however that if the closing price of the Common Shares on the Canadian Securities Exchange (the “CSE“) (or any such other stock exchange in Canada as the Common Shares may trade at the applicable time) is $0.25 or greater per Common Share for a period of five (5) consecutive trading days at any time after the closing date of the Offering, the Corporation may accelerate the Warrant Term such that the Warrants shall expire on the date which is 30 days following the date a press release is issued by the Corporation announcing the reduced warrant terms.
Thoughtful Brands Inc. (CSE:TBI)(FSE:1WZ1)(OTCQB:PEMTF) (the “Company” or “Thoughtful Brands) announces that the letter of intent with Franchise Cannabis Corp. (“FCC”), previously announced in January, has been terminated. The previously announced European joint venture with FCC will continue and allow the Company to launch and tailor its products to European consumer demands
In connection with termination of the merger transaction with FCC, the Company has agreed to pay FCC $100,000 in cash and to issue FCC 5,000,000 common shares of the Company at a deemed value of $0.05 per share. The common shares will be subject to a four-month-and-one-day statutory hold period in accordance with applicable securities laws.
Mergers and acquisitions (M&A) in cannabis space have helped boost the industry to new levels.
Strategic sale of non-core assets by Lobe adds non-dilutive capital and shareholder value
Lobe Sciences Ltd. (CSE: LOBE) (OTC Pink: GTSIF) (“Lobe” or the “Company”) is pleased to announce, further to its press release dated February 23, 2021, that it has completed the sale to Ionic Brands Corp. (“Ionic Brands”) of Lobe’s non-core cannabis assets relating to Washington-based Cowlitz County Cannabis Cultivation Inc. (“Cowlitz”) held by Lobe’s subsidiary vendor, Green Star Biosciences Inc. (the “Transaction”).
Seattle Area Grocery Chain Metropolitan Market to Begin Carrying KOIOS and Fit Soda on March 22, 2021
Adding to its existing presence on the west coast of the United States, all five KOIOS™ flavours and all four Fit Soda™ flavours will be carried in Metropolitan Market stores beginning on Monday, March 22, 2021. Serving the Seattle-Tacoma area (population 3.87 million), Metropolitan Market is one of five chains under its parent firm Good Food Holdings, which has a total of 51 stores in California, Oregon, and Washington State.
Koios Beverage Corp. (CSE: KBEV; OTC: KBEVF) (the “Company” or “Koios”) is pleased to announce that beginning on Monday, March 22, 2021, Koios’ entire line of canned beverage products will be sold at all locations of Metropolitan Market, an urban format supermarket chain in the Seattle-Tacoma area of Washington State. In Q1 2021, the Company announced multiple placements of its beverage products with regional grocers in markets on the west coast of the United States including Market of Choice in Oregon Jensen’s in Southern California and major natural grocery chain Sprouts Farmers Market which has a substantial west coast presence with over one third of its locations (360+ stores across 23 states) in California as well as Washington State 1 . The Company has also recently announced other developments relating to its expansion efforts being undertaken in 2021 such as an in-house beverage canning facility and distribution agreements with regional and national wholesale partners.