Ancient Strains Limited (“Ancient Strains” or “ASL”) is pleased to announce that it has signed two binding agreements with strategic cannabis service providers that will greatly enhance Ancient Strains’ ability to expand its international footprint and develop unique medicinal cannabis products. One is with CannOps Consulting Services Ltd. (“CannOps”) and one is indirectly through Battalion Consol Corp. (“BATC”).

Under the terms of the agreement with CannOps (the “CannOps Agreement”), CannOps will, among other things, supply product from its genetic library, work with Ancient Strains to develop medicinal cannabis extract product lines and assist in marketing and distribution. Ancient Strains will use the genetics and strains to enhance its position in the international business of medicinal cannabis.


Pursuant to the confidential terms of the agreement with Battalion Consol Corporation (the “BATC Agreement”), Ancient Strains will purchase BATC’s minority equity interest in a licensed analytics lab located in Canada (the “LD”). The BATC Agreement will allow Ancient Strains full access to the services of the LD including import and export of product and product testing.

Both agreements are subject to final due diligence and definitive documentation, and all business dealings will be subject to regulatory approvals.

Summary of Terms

CannOps Agreement:

  • CannOps will provide seeds for cultivation and strain development;
  • CannOps will assist in offshore license acquisition, and protocols for extracts;
  • CannOps will assist in marketing and product development;
  • CannOps will receive warrants to purchase 2.5 million ASL shares exercisable at $0.40 for five years.

Battalion Consol Agreement:

  • BATC will sell its minority equity position and underlying agreement in a licensed laboratory;
  • ASL will have access to the full services of the LD including testing and services;
  • ASL will have exclusivity for product testing from India and Uruguay;
  • ASL will issue 1 million warrants exercisable at $0.40 per warrant for five years and pay $500,000 to BATC within three years to acquire the minority interest in the LD.

Samir Biswas, President of Ancient Strains, commented: “We are very pleased to have signed these agreements. The CannOps Agreement allows Ancient Strains to source high quality Canadian medicinal cannabis strains and expertise to develop our international business units, while the BATC Agreement would allow us to import and export, test and combine Canadian and Ancient Strains acquired offshore. Working closely with the experienced team at CannOps and the LD, Ancient Strains is now poised to expand its international footprint and develop unique medicinal cannabis products for what we believe is rapidly becoming a global business.”

Ancient Strains Near Term Plans:

Near-term Objectives of Ancient Strains in 2018 are:

  • Close on the current $3 million financing;
  • Continue expanding operations in Uruguay;
  • Conclude one or more international grow, extract, and sales agreements;
  • Attract additional Canadian expertise to complement the international strategy;
  • Complete a ‘go-public’ transaction and list the shares on a Canadian stock exchange.

This Press Release Is Available on The Company’s website www.AncientStrains.ca

About Ancient Strains

Ancient Strains Limited is a private Canadian federally-registered company planning to become a vertically integrated international producer of cannabis and hemp and related products, where legally allowed, as required for medical use by patients.

Ancient Strains goal is to develop an international business, using low-cost cultivation and extractions using innovative strains of cannabis genetics and Canadian expertise that will have a positive impact on people’s health worldwide.

About CannOps Consulting Services Ltd.

CannOps is an Ontario provincially-registered company founded by experts in the medicinal cannabis industry providing extensive services to the industry ranging from design and construction advice to genetics, efficacy, and standard operating procedures (SOP’s) for dosing and patient management. The dedicated staff are well—respected and have a long history of assisting both patients and companies establish appropriate medicinal protocols.

About Battalion Consol Corp.

BATC is a Canadian, federally-registered company providing merchant banking services to startup companies with a focus on the cannabis space.

Disclaimers:

This press release contains certain forward-looking statements, including, without limitation, statements containing the words “may”, “plan”, “will”, “would”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “in the process” and other similar expressions which constitute “forward-looking information” within the meaning of applicable securities laws. Forward-looking statements reflect the Company’s current expectation and assumptions, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. These forward-looking statements involve risks and uncertainties including, but not limited to, our expectations regarding the acceptance of our products by the market, our strategy to develop new products and enhance the capabilities of existing products, our strategy with respect to research and development, the impact of competitive products and pricing, new product development, and uncertainties related to the regulatory approval process. Such statements reflect the current views of the Company with respect to future events and are subject to certain risks and uncertainties and other risks detailed from time-to-time in the Company’s on-going filings with the securities regulatory authorities, which filings can be found at www.sedar.com. Actual results, events, and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements either as a result of new information, future events or otherwise, except as required by applicable securities laws.

For further information contact

Daryl Hodges, Chairman and CEO Tel (647) 271-3817
Samir Biswas, President and COO Tel: (416) 545-7214
www.AncientStrains.ca

Source: www.newsfilecorp.com

Lexaria Bioscience Corp. (NASDAQ:LEXX)(NASDAQ:LEXXW)(CSE:LXX) (the “Company” or “Lexaria”), a global innovator in drug delivery platforms, is pleased to announce the appointment of Mr. Al Reese, Jr., to its Board of Directors

Mr. Reese has over 40 years experience in public and private businesses including as CFO of a formerly Nasdaq-listed energy company where he arranged finance transactions totaling over $10 billion dollars during his 20-year tenure. Mr. Reese was a Director and Chairman of the Audit Committee of a community bank in Texas for ten years until such time as it was acquired by a larger banking group in 2018.

Keep reading... Show less

Mexico looks to be closer than ever to cannabis reform, with the country releasing its regulation plans to make the drug legal in medical settings.

Meanwhile, despite the financial hardships seen recently in the Canadian cannabis market, CEOs in the country are still receiving top dollar, as per a new study.

Keep reading... Show less

Not for Distribution to United States Newswire Services or for Dissemination in the United States

Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco” or the “Company”), one of the largest vertically integrated multistate cannabis operators in the United States, announced today the pricing of its previously announced best efforts overnight marketed offering (the “Offering”) of subordinate voting shares (the “Offered Securities”) of the Company at a price of C$16.00 per share for a total gross proceeds of approximately US$125 Million. The issue price represents a 3.3% discount to the last close of the Company’s subordinate voting shares traded on the Canadian Securities Exchange as of January 14, 2021. 100% of the Offering is expected to be purchased by a total of seven new and existing institutional investors, including current shareholder, Wasatch Global Investors.

Keep reading... Show less

Wall Street Reporter, the trusted name in financial news since 1843, has published reports on the latest comments and insights from leaders at: Tilray, Inc. (NASDAQ: TLRY), Icanic Brands (OTC: ICNAF) (CSE: ICAN) Red Light Holland (OTC: TRUFF) (CSE: TRIP) and Aphria, Inc. (NASDAQ: APHA).

Investors are cheering new and expected legislation which is opening new market opportunities for both cannabis and psychedelics globally. Innovation in premium branding, growing technologies, manufacturing, with operational execution are key, in the drive towards profitability. Wall Street Reporter highlights the latest comments from industry thought leaders in cannabis and psychedelics:

Keep reading... Show less

Lexaria Bioscience Corp. (NASDAQ:LEXX)(NASDAQ:LEXXW)(CSE:LXX) (the “Company”) today announced the closing of its previously announced underwritten public offering (the “Offering”) of 1,828,571 units, each unit consisting of one share of common stock and one warrant to purchase one share of common stock at a public offering price of $5.25 per unit (all prices in US$). The warrants have an exercise price of $6.58 per share, are immediately exercisable and will expire five years following the date of issuance. In connection with the Offering, the underwriter exercised in full its option to purchase an additional 274,285 shares of common stock and additional warrants to purchase 274,285 shares of common stock. The gross proceeds from the Offering were approximately $11.04 million, before deducting underwriting discounts and estimated offering expenses. No securities were offered or sold in Canada, including through the CSE or any other trading market in Canada

H.C. Wainwright & Co. (“Wainwright”) acted as the sole book-running manager for the Offering and is a non-related party to the Company.

Keep reading... Show less