FSD Pharma Inc. (CSE:HUGE) recently announced that Canntab Therapeutics (CSE:PILL) had delivered the first of its manufacturing equipment at FSD Pharma’s Cobourg plant in Ontario. According to an article by Born2Invest, Canntab will be able to produce approximately 1.5 million tablets per day once the equipment is in place.
“With this first delivery of manufacturing equipment at the Cobourg plant, we can begin the process of setting up our manufacturing space in collaboration with FSD Pharma,” said Canntab CEO Jeffrey Renwick. “We expect manufacturing of our suite of novel cannabis oral dose delivery platforms, including gel capsules and tablets to begin in earnest.”
Canntab has a collaborative partnership and profit-sharing agreement in place with FSD Pharma. As per their agreement with Canntab, FSD Pharma has provided them with approximately 10,000 square feet of space in its Cobourg facility. In return, Canntab will provide FSD Pharma with 50 percent of the profits on any retail sales of Canntab products through FSD Pharma sales channels and on any Canntab products that FSD Pharma sells. In addition to this, Canntab will pay a 3.5 percent royalty to FSD Pharma for all Canntab products that are sold and manufactured from the Canntab premises at the FSD Pharma facility. Finally, Canntab will also be responsible for developing a line of cannabis oral dose delivery platforms and other types of cannabis-based products, such as sleep aids and pain relievers.
The article went on to feature FSD Pharma’s other partnerships and agreements with Auxly Cananbis Group Inc. (TSXV:XLY), Cannara Biotech Inc., High Tide Ventures and SciCann Therapeutics. The article also provided an update on FSD Pharma’s multi-phase construction of its Cobourg facility, which the company purchased in 2016.
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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.