Alliance Growers Corp. (CSE:ACG; FWB:1LA) has provided updates on equity facility negotiations and the company’s projects that will ultimately make Alliance a successful global cannabis company. Alliance continues to deliver on its strategy to build a global cannabis company that is positioned for where the cannabis market will be, not only where it is now.
$5 Million to $10 Million Equity Facility with Private Equity Firm
In addition to the current private placement, Alliance is currently negotiating terms on an equity facility to meet our capital requirements for the following projects.
Property Identified for Cannabis Botany Centre
BRIM and Alliance have identified a property for the 40,000 square foot Cannabis Botany Centre. It consists of 40 acres of land in Miracle Valley, east of Mission, with the potential to develop up to 1 million square feet of facility space. This property has zoning that is approved for Health Canada Licensed Producer facilities. Thanks to the tremendous potential in the Cannabis space, we now have multiple options to finance the purchase of the land and the construction of the facility.
Strategic Alliances and Investments in Licensed Producer Applicants
Through a serious of strategic alliances and investments in Licensed Producers at various stages in the license process, Alliance is focused on securing long term plantlet supply contracts for the Cannabis Botany Centre and off-take agreements at wholesale cost for flower to be used for cannabidiol (CBD) oil extraction. Alliance will announce later this week, the final terms on a 5% non-dilutive interest in a private company in Ontario that has assembled a top tier growing team with management that has the expertise to expedite the license producer application process.
Additional Licensed Producer Applicants have approached Alliance looking to partner with a public company and negotiations are ongoing.
Read the full company profile.
Permits Secured by Israeli Medical Cannabis Company
Further to the company’s commitment to become a leading supplier of pharmaceutical grade CBD oil on a global basis, Alliance continues discussions setting out terms for an equity investment and/or joint venture with an Israeli medical cannabis company.
Last week the Company was informed that all permits were in place on 45-50 hectares of land for the growth of high quality cannabis plants in an offshore, low operating cost jurisdiction. The Israeli medical cannabis company brings first-class technology for production and processing based on Israeli technology in addition to specific strains and processing knowhow. This would facilitate the importation of the CBD Oil into various states in the USA, into Canada when legalized, and into countries like Germany now that the laws have changed. We expect many more European countries to follow suit in the months to come.
The Hemp Business Journal reports that the CBD market is growing at a rate of 30% per annum, and forecasts that sales of CBD Oils from marijuana-based sources are expected to reach $1,650,000,000, or 79% of the total CBD Market of $2,100,000,000 by 2020. And this is in the USA only. Dennis Petke, President and CEO stated “We are very excited to for the opportunity to take advantage of the equity facility to execute on our business plan. The equity firm we are negotiating with has financed other well-known Canadian Cannabis companies in the past 2 years. Over time we expect new investors and our shareholders to begin to see that we are building a global cannabis company that stands out from other Canadian cannabis companies whose entire business is directly affected by Health Canada rules and regulations.”
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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.