Cannabis-infused beverage expert to gain access to one of Canada’s largest genetic cannabis libraries and customized proprietary nutrient formulae
Emerging leader in infused cannabis beverages, BevCanna Enterprises Inc. (CSE:BEV) (Q:BVNNF) (FSE:7BC) (“BevCanna” or the “Company”) announced today that it has entered into a non-binding letter of intent (the “LOI”) with full-service live genetic and seed preservation cannabis company Phenome One Corp. (“Phenome”) and private label nutrient company Norstar Nutrients Ltd. (“Norstar”).
Phenome One has one of Canada’s largest live genetic cannabis libraries, with over 350 cultivars that have been lab-tested and rigorously field-tested over 29 years. Under the proposed agreement (the “Definitive Agreement”), BevCanna will gain access to Phenome’s library with a unique access to growing, breeding and cloning IP. adding to BevCanna‘s own significant library of cannabis genetics. Under the LOI, the parties intend to enter into the Definitive Agreement within 45 days of the LOI.
Phenome One will also identify, breed, enhance and preserve this existing library of cultivars, consisting of genotype and phenotype selection from Bevcanna’s current inventory of seeds, cultivars and/or genetic material. Breeding programs will be focused on genetic development of existing cultivars for geographic and environmental conditions at Anarchist Mountain, Osoyoos. An emphasis will be weighed from results of production yields and laboratory analysis that demonstrate high CBD, THC and specific medicinal cannabinoid and terpenes.
The Definitive Agreement will also provide Bevcanna with access to Norstar’s proprietary formulae, Standard Operating Procedures (SOP) and farming data, generated through three years of field testing in the Golden Mile. The nutrient formulae and regimes are customized to the elite library of rigorously tested production cultivars. SOPs for feed and specific plant nutrient schedules will also be provided for selected cultivars.
“This agreement will provide a unique advantage to BevCanna, in that we’ll gain access to both Phenome One’s extensive genetic cannabis library and Norstar’s proprietary formulas,” said John Campbell, Chief Strategy Officer at BevCanna. “We’re also excited to leverage their significant expertise in optimizing our existing cultivars, increasing our overall cannabis yield projections.”
Under the Definitive Agreement, BevCanna would agree to pay the following consideration, subject to compliance with applicable CSE policies:
- 2,000,000 common shares of BevCanna upon execution of the Definitive Agreement and an additional Nutrient Development definitive agreement to be entered into concurrently with the Definitive Agreement;
- 2,000,000 common shares of BevCanna to be issued 45 days prior to planting BevCanna‘s 2021 outdoor cultivation crop; upon Phenome successfully reviewing BevCanna‘s genetic library and providing monthly progress reports and work plans from inception of the Definitive Agreement and Nutrient Development definitive agreement, for an optimized risk adjusted revenue stream by focusing on optimal yield, early frost risk mitigation, and premium market positioning, which both parties shall mutually agree upon; and
- A 3% royalty on gross revenue from Product sales derived from Phenome’s Elite Library cultivars and/or BevCanna‘s cultivars that Phenome genetically enhances.
The Company also announces it has settled debt in the amount of $22,500 owed by the Company to two creditors of the Company in respect of unpaid consulting fees and a signing bonus in respect of an advisory board appointment in exchange for 75,000 common shares (each, a “Debt Settlement Share”) at a deemed price of $0.30 per Debt Settlement Share.
The Debt Settlement Shares are subject to a hold period of four months from the date of issuance.
None of the securities acquired in the transactions noted above will be registered under the United States Securities Act of 1933, as amended (the “1933 Act”), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act. This news release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any state where such offer, solicitation, or sale would be unlawful.
About BevCanna Enterprises Inc.
BevCanna Enterprises Inc. (CSE:BEV, Q:BVNNF, FSE:7BC) develops and manufactures cannabinoid-infused beverages and consumer products for in-house brands and white label clients. With decades of experience creating, branding and distributing iconic brands that resonate with consumers on a global scale, the team demonstrates an expertise unmatched in the emerging cannabis beverage category. Based in British Columbia, Canada, BevCanna has a 292-acre outdoor cultivation site in the fertile Okanagan Valley and the exclusive rights to a pristine spring water aquifer, as well as a world-class 40,000-square-foot, HACCP certified manufacturing facility, with a current bottling capacity of up to 210M bottles per annum.
About Phenome One Corp.
Phenome One Corp. is a full-service cannabis farming company focused on elite strain selective breeding, spanning over 29 years of generational cannabis farming experience. Phenome utilizes state of the art growing systems incorporating proprietary nutrient regimes with experience in all growing mediums. Phenome’s elite line of rigorously tested production cultivars consists of 350+ cultivars that have a minimum of nine commercial production cycles. This includes all heirloom varieties dating back three decades: glennwarp, the BC classics line, and all modern CBD, THC, and CBG rich cultivars. Phenome has a mass selection process, which allows it to carry fewer lines with superior genetic quality and expression; giving Phenome a competitive advantage over competitive catalogs.
About Norstar Nutrients Ltd.
Norstar Nutrients is a private label nutrient company with over a decade of formulating and nutrient line testing. Norstar offers a unique blend of macro and micro-nutrients formulated for optimal essential oil production, immune system health, and industry leading production. Norstar’s beneficials have been formulated under a multi strain growing system which thrives with heirloom varieties as well as modern day hybrids. Norstar’s raw materials are sourced globally from the highest quality salt providers. Since the nutrients are sourced from raw salts, formulations are produced at a fraction of the cost of other farmers. Norstar’s beneficials have been formulated under a multi strain growing system which thrives with their heirloom varieties as well as modern day hybrids. Norstar’s two-part nutrient system provides everything plants need in the vegetative periods, right through to the flowering stage with slight elemental ratio adjustments. The optimal flower boost provides a bump some plants may need for the mid-flower developmental phase.
On behalf of the Board of Directors:
John Campbell, Chief Financial Officer and Chief Strategy Officer
Director, BevCanna Enterprises Inc.
Disclaimer for Forward-Looking Information
This news release contains forward-looking information that involves various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company. Forward-looking statements made in this news release relate to: the Defintiive Agreement, including the timing thereof and the consideration payable by BevCanna under same; that under the proposed agreement with Phenome and Norstar and the timing thereof, BevCanna will gain access to Phenome’s library with a unique access to growing, breeding and cloning IP. adding to BevCanna‘s own significant library of cannabis genetics; that Phenome will also identify, breed, enhance and preserve this existing library of cultivars, consisting of genotype and phenotype selection from Bevcanna’s current inventory of seeds, cultivars and/or genetic material; that Breeding programs will be focused on genetic development of existing cultivars for geographic and environmental conditions at Anarchist Mountain, Osoyoos and an emphasis will be weighed from results of production yields and laboratory analysis that demonstrate high CBD, THC and specific medicinal cannabinoid and terpenes; that under the proposed agreement, Bevcanna will be provided with access to Norstar’s proprietary formulae, Standard Operating Procedures (SOP) and farming data, generated through three years of field testing in the Golden Mile; that the proposed agreement will provide a unique advantage to BevCanna, in that the Company will gain access to both Phenome’s extensive genetic cannabis library and Norstar’s proprietary formulas; that the Company to leverage the other parties’ significant expertise in optimizing its existing cultivars, increasing its overall cannabis yield projections; and other matters relating to the Company’s business plans.
There are numerous risks and uncertainties that could cause actual results and the Company’s plans and objectives to differ materially from those expressed in the forward-looking information, including the inability of the parties to enter into the proposed Definitive Agreement on the terms announced or at all; the inability of the Company to obtain necessary licences from Health Canada with respect to cannabis; and adverse market conditions. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. The Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws, and the Company does not assume any liability for disclosure relating to any other company mentioned herein.
SOURCE BevCanna Enterprises Inc.
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Ayurcann Holdings Corp. (CSE: AYUR) (the “Company” or “Ayurcann”) an integrated Canadian extraction company specializing in the processing of cannabis and hemp for the production of oils and various derivative products, announces the granting of stock options and restricted share units.
The Company has announced that it has granted incentive stock options to directors, officers, employees and consultants of the Company to purchase an aggregate of 1,000,100 common shares under the Company’s Stock Option Plan. Each option is exercisable at a price of $0.16 per common share, expires three years from the date of grant and vest six months from the date of the grant.
The Company has also granted restricted share unit grants, pursuant to the Company’s Restricted Share Unit plan, dated April 1, 2021, totaling 1,548,875 to certain eligible participants.
For further information, please contact:
Igal Sudman, Chairman, Chief Executive Officer and Corporate Secretary
Ayurcann Holdings Corp.
About Ayurcann Holdings Corp.:
Ayurcann is a leading post-harvest solution provider with a focus on providing and creating custom processes and pharma grade products for the adult use and medical cannabis industry in Canada. Ayurcann is focused on becoming the partner of choice for leading Canadian cannabis brands by providing best-in-class, proprietary services including ethanol extraction, formulation, product development and custom manufacturing.
Neither the Canadian Securities Exchange nor its Regulation Services Provider have reviewed or accept responsibility for the adequacy or accuracy of this release.
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A planned business merger between two leading cannabis producers hit a small delay this week as a critical vote got moved.
Keep reading to find out more cannabis highlights from the past five days.
Tilray delays critical shareholder meeting
On Thursday (April 15), Tilray (NASDAQ:TLRY) announced it will be postponing its shareholder vote on the fate of its merger with Aphria (NASDAQ:APHA,TSX:APHA). It will take place on April 30 instead of April 16.
Neither cannabis company offered an explanation for the change. Tilray has asked shareholders to participate in this vote regardless of how many shares they may hold. “Tilray stockholders who have not already voted, or wish to change their vote, are strongly encouraged to do so,” the company said.
This news came days after Aphria shareholders overwhelmingly voted in favor of the business transaction, with a total of 99.38 percent of shareholders voting for the deal to continue. Confirmation from Aphria Chairman and CEO Irwin Simon indicated the partnership was en route to being complete.
This past week Aphria also released financial results for the third quarter of its 2021 fiscal year, in which the firm highlights the overall direction of the company with the Tilray deal.
“We expect to have a tremendous runway for long-term sustainable growth as we build upon our existing foundation in Canada and internationally by increasing the scale of our global operations,” Simon said in a statement.
Cannabis retailer celebrates digital trend
Bidding for the piece, named “Non-Fungible Toke“ started at a price of C$4.20. The retailer plans to donate the proceeds to two charities, Second Harvest and Less.
The latter is designed to counter the carbon footprint of blockchain technology, a common criticism drawn against the rise of NFTs and other novel technologies.
As of 11:00 a.m. EST on Friday (April 16), the NFT bid was up to C$169.11.
Cannabis company news
- The Valens Company (TSX:VLNS,OTCQX:VLNCF) issued its financial report for the first quarter of its 2021 fiscal year. In its results, the company highlights a net revenue uptick of 24.7 percent from the previous quarter, resulting in C$20 million for the period.
- Trulieve Cannabis (CSE:TRUL,OTCQX:TCNNF) closed a public offering of 5 million subordinate voting shares at a price of C$50 each for total gross proceeds of C$287.5 million. The company celebrated its financial position after an offering in January, which will lead to the pursuit of merger and acquisition targets.
- Australis Capital (CSE:AUSA,OTCQB:AUSAF) appointed Jason Dyck as its new chief science officer and chairman of the firm’s scientific advisory board. Dyck previously served as an executive at Aurora Cannabis (NASDAQ:ACB,TSX:ACB), leading the scientific efforts for the cannabis producer. “I look forward to providing AUSA with advice and direction in its scientific efforts towards bringing innovations to market with immediate and significant commercial appeal,” Dyck said.
- Truss Beverage, a cannabis drinks venture co-owned by Molson Coors Beverage Company (NYSE:TAP,TSX:TPX) and HEXO (NYSE:HEXO,TSX:HEXO), released the details of its new lineup of infused beverages. Six new drinks will become available around the summer and are intended to pair with the season.
Don’t forget to follow us @INN_Cannabis for real-time updates!
Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.
Partnerships with Minardi Law , Minorities for Medical Marijuana, CultivatED, and the Georgia Justice Project will include clinics and virtual events across Florida , Georgia , and Massachusetts
Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) (“Trulieve” or “the Company”), a leading and top-performing cannabis company based in the United States announced today a series of expungment clinics located throughout south and central Florida as well as virtual events in Georgia and Massachusetts . The clinics are part of the Company’s celebration of the 50 th anniversary of 420.
During the month of April, Minardi Law has hosted expungment clinics and will be hosting two more as follows:
- Releaf Patient Appreciation Day, April 17 th ( Valrico )
- First Annual 4/20 Event ( St. Petersburg Beach )
At these clinics, an attorney will be present to review records and see if someone is eligible for a sealing or expungment of their records. As part of the events, Trulieve will be helping cover the costs for finger prints, legal fees, and court costs.
Trulieve is working with Minorities for Medical Marijuana (“M4MM”) to host a 4/20 Expungement Clinic, part of M4MM’s Project Clean Slate. This event will take place on Saturday, April 24, 2021 , from 9:30am – 4:30pm at Riviera Beach City Hall. Anyone seeking to take place in this event is required to register in advance at http://trulieve.cc/expungementpreregistration .
In addition, Trulieve is sponsoring the First Friday Series , a weekly virtual event from the Georgia Justice Project to help Georgia citizens with record restrictions, and is also sponsoring the Fellowship Presentation and Expungement Clinic being offered through CultivateEd and GBLS on Friday, April 23 from 3:00pm – 4:00pm . You can register for the Massachusetts expungement clinic in advance here: HTTPS://BIT.LY/2Q655KK
“Our mission as a company has always been to improve people’s lives,” said Trulieve CEO Kim Rivers . “We’ve always been dedicated to improving the communities we call home. Partnering with Minardi Law , Minorities for Medical Marijuana, Georgia Justice Project and CultivatED on these clinics was a simple decision for us; we encourage anyone seeking help with the expungement process to attend one of these clinics in your own state to start the process.”
For more information about Trulieve and the April expungment clinics, please visit www.Trulieve.com .
Trulieve is primarily a vertically integrated “seed-to-sale” company in the U.S. and is the first and largest fully licensed medical cannabis company in the State of Florida . Trulieve cultivates and produces all of its products in-house and distributes those products to Trulieve-branded stores (dispensaries) throughout the State of Florida , as well as directly to patients via home delivery. Trulieve also has operations in California , Massachusetts , Connecticut and Pennsylvania. Trulieve is listed on the Canadian Securities Exchange under the symbol TRUL and trades on the OTCQX market under the symbol TCNNF.
To learn more about Trulieve, visit www.Trulieve.com .
SOURCE Trulieve Cannabis Corp.
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Seth Rogen’s New Cannabis Brand are Now Available at Apothecarium Dispensaries in San Francisco , Berkeley and Capitola
The Apothecarium is offering cannabis from Houseplant, the cannabis lifestyle brand founded by Seth Rogen and Evan Goldberg at its five California dispensaries. The Apothecarium has three San Francisco locations (Castro, SOMA and Marina ) and one each in Berkeley and Capitola (outside of Santa Cruz ).
“With the vast number of dispensaries in California , we put a lot of effort into identifying the right ones that align with Houseplant’s values,” said Seth Rogen , Co-Founder of Houseplant. “The Apothecarium shares the same commitment to creating a strong consumer experience that we pride ourselves on and we are thrilled to bring our three initial strains to their stores in the Bay Area.”
Houseplant is launching with three flower strains, all of which will be available at The Apothecarium, including: Diablo Wind (sativa), Pancake Ice (sativa) and Pink Moon (indica). Like their founder’s groundbreaking film “Pineapple Express”, Houseplant strains are named after weather phenomena. Each strain will be sold in a custom tin.
“We are so proud to be one of the very first dispensaries in California to offer Houseplant to our customers,” said Ryan Hudson , CEO and co-founder of The Apothecarium. “Seth, Evan and everyone at Houseplant love and respect cannabis as much as we do. We simply cannot wait to share their beautiful and delicious flowers with our guests.”
“We’ve been working with the Houseplant team for more than a year and are grateful to have a partner that shares so many of our values, including an emphasis on cannabis education, quality, reform of cannabis laws and beautifully designed, recyclable packaging.”
“Seth has been hands-on during the process, spending time with our store managers to make sure they know the products and how much care has gone into vetting and selecting the best strains. We think our guests are going to love Houseplant.”
About The Apothecarium
The Apothecarium is recognized as one of the nation’s premier cannabis dispensaries, with an emphasis on education via in-depth one-on-one consultations from highly trained cannabis consultants. The company was founded by three first cousins and two family friends in 2011. Our dispensaries are known for providing educational events that are open to the public at no cost — and for welcoming seniors, first-time dispensary visitors, and people with serious medical conditions. The Apothecarium’s flagship San Francisco dispensary was named the best-designed dispensary in the country by Architectural Digest . Patients and customers may order at our dispensaries or online for pickup or delivery at apothecarium.com [apothecarium.com] .
The Apothecarium is committed to giving back to the communities we serve. We have donated more than $400,000 in cash to community groups and nonprofits — plus more than $300,000 worth of in-kind donations.
All Apothecarium dispensaries continue to implement safety measures to protect guests and team members. Protocols include strict social distancing inside and outside the dispensaries, a mask requirement for everyone inside the dispensaries, no contact check-in procedures and ongoing sanitizing throughout the day.
CA Licenses: C10-0000523-LIC; C10-0000522-LIC; C10-0000515-LIC, C10-0000738-LIC, C10-0000706-LIC
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MISSISSAUGA, Ontario TheNewswire – April 16, 2021 Sire Bioscience Inc. (CSE:SIRE) (OTC:BLLXF) (FSE:BR1B) (CNSX:SIRE.CN) (“SIRE” or the “Company”) announces that Brian Nugent has resigned as a member of the Company’s board of directors (the “ Board ”). It has been a pleasure and a blessing to have worked with Brian Nugent over the past few years, his business acumen and tremendous experience will certainly be missed, SIRE wishes him nothing but the best in all his future endeavors.
About Sire Bioscience
SIRE is headquartered in Mississauga, Ontario with its wholly owned subsidiary PLANTFUEL® based in Denver, Colorado. SIRE is managed by a group of successful entrepreneurs who have extensive experience in the areas of consumer-packaged goods, manufacturing, logistics, and distribution. SIRE is a CPG life science company focused on the plant-based foods and supplements industry.
For additional information contact:
Sire Bioscience Inc.
Copyright (c) 2021 TheNewswire – All rights reserved.
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