Aura Health Inc. (the “Company” or “Aura”) (CSE:BUZZ) is very pleased to announce it has entered into a binding letter of intent (“LOI”) to subscribe to an unsecured convertible note (“Convertible Note”) in Holycanna Ltd. (“Holycanna”), an Israel-based company with an cultivation and sales license application (“License Application”) submitted to the Israeli Ministry of Health (“Yakar”). Upon approval of the License Application, the Company’s Convertible Note will automatically convert to a majority (54%) equity stake in Holycanna.

Terms of the LOI are as follows (all figures in CAD$, converted at today’s NIS/CAD spot rate):


  • The Company will provide Holycanna with a bridge loan (“Bridge Loan”) in the principal amount of $356,606. The Bridge Loan will be non-interest-bearing debt due on November 1st, 2018, upon which the Bridge Loan will be cancelled and converted to principal within the Convertible Note investment;
  • On November 1st, the Company will subscribe for the Convertible Note in the maximum principal amount of $3,566,060, which will be advanced in tranches, on the following timetable:
    • $713,212 – by November 1st, 2018;
    • $1,248,121 – by January 1st, 2019;
    • The remaining sum ($1,248,121) will be advanced by the Company upon request made by Holycanna;
  • The Convertible Note will be converted into equity automatically upon License Application approval.

Daniel Cohen, CEO of Aura, commented, “We are excited to announce this transformational acquisition and look forward to developing our international expansion further. The Israel market provides significant opportunity for value creation both within the country and through future potential export opportunities. As a company, we seek acquire and develop differentiated, value-added cannabis businesses and we believe Holycanna fits very well within this strategy.”

About Aura Health Inc.

Aura, through its wholly-owned Delaware subsidiary, Green Global Properties Inc. (“Green Global”), owns a 30% interest in four medical marijuana clinics in Las Vegas, Nevada; Mesa, Arizona; Tucson, Arizona and Hollywood, Florida, respectively. Green Global has an option to increase its interest in each such clinic (other than the Nevada clinic) to 51%.

For further information, please contact:

Daniel Cohen, CEO
Aura Health Inc.
(647) 202-1824

David Posner, Director and Chairman
Aura Health Inc.
(647) 985-6727

Caution Regarding Forward-Looking Information:

This news release may contain forward-looking statements and information based on current expectations. Any such forward-looking statements may be identified by words such as “expects”, “anticipates”, “believes”, “projects”, “plans” and similar expressions.  Forward looking information in this news release includes the following statements: (i) expected trading date on the CSE; (ii) management’s belief that the listing on the CSE will increase pool of potential investors and bring other benefits, and (iii) management’s plan to build an international network of vertical integrated businesses in the medical marijuana field.

Certain information contained in this press release constitutes forward-looking information, which is information relating to future events or the Corporation’s future performance and which is inherently uncertain. All information other than statements of historical fact may be forward-looking information. Forward-looking information is often, but not always, identified by the use of words such as “seek”, “anticipate”, “budget”, “plan”, “continue”, “estimate”, “expect”, “forecast”, “may”, “will”, “project”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe” and similar words or phrases (including negative variations) suggesting future outcomes or statements regarding an outlook. Forward-looking information contained in this press release includes, but is not limited to, final acceptance of the RTO Transaction by CSE and listing of the Corporation’s shares. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. The Corporation believes the expectations reflected in the forward-looking information are reasonable but no assurance can be given that these expectations will prove to be correct and readers are cautioned not to place undue reliance on forward-looking information contained in this press release. Some of the risks and other factors which could cause results to differ materially from those expressed in the forward-looking information contained in this press release include, but are not limited to: the risks that the RTO Transaction and associated transactions will not be accepted by the CSE, and other risks included in the Listing Statement available at www.sedar.com. The forward-looking information contained in this press release is made as of the date hereof and the Corporation undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as otherwise required by law.

Source: globenewswire.ca

American cannabis sales hit US$17.5 billion in 2020, a research group’s new study shows.

Meanwhile, a Canadian cannabis producer began offering CBD beverages in the US, another move that shows how interested Canadians are in the overall US cannabis market at the moment.

Keep reading... Show less

An Emerging Markets Sponsored Commentary

Some pretty important news out of health and wellness; beverage and natural products company BevCanna Enterprises Inc. (CSE:BEV, Q:BVNNF, FSE:7BC) this week. For those of you following the Company with us, stay tuned.

Keep reading... Show less

As investors continue to prioritize cannabis opportunities in the US, market watchers expect mergers and acquisitions (M&A) to play a role in the future for Canadian companies.

A consolidation trend has been expected in the Canadian cannabis space for some time now based on the size of the market compared to the number of operations in the country.

Keep reading... Show less

The product will include polyphenols known to have significant health benefits.

BioHarvest Sciences Inc. (CSE: BHSC) (“BioHarvest” or the “Company”) has reached an important milestone in its development program of additional Nutraceuticals. The olive-based Nutraceutical product scheduled for market availability in the second half of 2022 will contain the following unique matrix of polyphenols: hydroxytyrosol, trosol, and verbascoside. These compounds are the major polyphenols in naturally grown olives and are responsible for the high antioxidant activity of olives and olive oil. Importantly, the BioHarvest olive-based Nutraceutical product will provide all the benefits of olives and olive oil with a low calorie count per serving.

Keep reading... Show less

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 that it will report financial results for the fourth quarter and full year ended December 31 st , 2020 on Thursday March 25 th , 2021 before the market opens.

The Company will host a conference call and webcast to discuss its financial results and provide investors with key business highlights on Thursday March 25 th , 2021 at 8:30am Eastern Time (7:30am Central Time).

Keep reading... Show less