The agency tasked with overseeing the rollout of legal cannabis for adult-use in B.C. announced supply deals with 31 licensed producers (LPs), the most any province has signed for the first year of sales so far.
The Liquor Distribution Branch (LDB) for B.C. revealed on Wednesday (July 11) the initial list of licensed producers with which it had signed memorandum of understanding deals to supply legal cannabis product to the province once the recreational market opens up on October 17.
According to the LDB, the agency will continue to expand its purchasing requirements and “expects to issue a product call to invite additional licensed producers to engage as suppliers, shortly after legalization.”
The agreements were signed specifically with these producers since they “responded to the LDB’s request for information process and are able to supply a sufficient volume of non-medical cannabis upon legalization.”
Viviana Zanocco, LDB spokeswoman, told the Vancouver Sun consumers in the province are sophisticated in their use of cannabis. “Customers are used to having a lot of selection, so we wanted to make sure we have a safe, reliable supply,” she said.
In a June interview with the CBC, the Parliamentary Secretary Bill Blair said the government had been working closely with all levels of the industry and decided the delay the start of recreational sales after getting requests from the provinces.
“B.C. in particular has a lot of work to do and so we listened to the concerns that they raised,” Blair said.
Status of some producers in relation to public companies
One of the selected producers, We Grow BC, came close to being acquired by public company AREV Nutrition Sciences (CSE:AREV). On Tuesday (July 10) after its annual general meeting, AREV determined it would no longer pursue the acquisition of We Grow BC.
The company said no longer acquiring the producer benefited them with “less dilution.” The company also changed its name, pending approval from the Canadian Securities Exchange (CSE), to AREV Brands International. Stock for AREV is currently halted.
Among the several producers there exists deals with other companies holding interest or outright owning a fellow license winner producer. Aphria (TSX:APH) owns Broken Coast Cannabis while Cronos Group (TSX:CRON; NASDAQ:CRON) owns a 21.5 percent stake in Whistler Medical Marijuana.
Tilray Canada also earned a deal with the LDB through its subsidiary High Park. Tilray has announced its intentions to begin listing its class 2 common stock on the Nasdaq Global Select Market under the ticker symbol “TLRY.”
Following the announcement from LDB, confusion set in as Seven Oaks was listed as one of the producers. However Seven Oaks is not listed in the directory of LPs from Health Canada.
Deepak Anand, vice president of government relations of Cannabis Compliance voiced his concerns on his personal Twitter (NYSE:TWTR) account of the Seven Oaks deal.
It was signed w/ Beleave. Seven Oaks is the product brand. Not sure why we were listed as signatories.
— SevenOaks (@SevenOaksCanada) July 12, 2018
In a company statement, Seven Oaks confirmed as a brand its products will be available in B.C. through Beleave Kannabis’ deal with the province. Bealeve Kannabis obtained its initial licensing on May 2017.
“Products available in BC will include pouches of 1 [gram] and 3.5 [grams] of flower, while Seven Oaks anticipates having 1 [gram] pre-rolled joints and half-gram pre-rolled packs coming in the future,” the company stated.
Despite a lack of details from a variety of the producers on the amount of product each one will be supplying to the province, Maricann (CSE:MARI) disclosed it will “allocate a minimum of 3,621,900 grams per year to the BCLDB.”
Aphria and Canopy Growth (TSX:WEED; NYSE:CGC) both revealed on Thursday (July 12) how much product they would send to B.C. during the first year of legal sales. Canopy will offer 5,719 kilograms while Aphria will provide 5,000 kilograms.
First retail stores in the province
The LDB also revealed its first retail cannabis store will be located in Kamloops within the Kamloops’ Columbia Place Shopping Centre. In B.C. the plan is to allow private retail shops to co-exist with the government owned and operated cannabis shops.
For its online component the LDB announced in June it had selected Shopify (TSX:SHOP) as its platform for online sales of recreational cannabis products. The online platform is set to create two new websites selling cannabis, one for consumers and the second for private retail shops.
Here’s the complete list of cannabis producers tapped by the province’s liquor board to supply the government run retail stores and the respective public company associated with some producers:
- Acreage Pharms – Invictus MD (TSXV:GENE)
- Agrima Botanicals (private)
- Aurora Cannabis (TSX:ACB)
- Bloomera – Ravenquest BioMed (CSE:RQB)
- Broken Coast Cannabis – Aphria
- Canna Farms – ABcann Global (TSXV:ABCN)
- CannTrust (TSX:TRST)
- Canopy Growth
- Cronos Group
- DOJA Cannabis – Hiku Brands (CSE:HIKU)
- Evergreen Medicinal Supply (private)
- Experion Biotechnologies – Viridium Pacific Group (TSXV:VIR)
- Hydropothecary (TSXV:HEXO)
- MedReleaf (TSX:LEAF)
- Natural Med Company – Eve & Co Incorporated (TSXV:EVE)
- Redecan Pharm (private)
- Seven Oaks – Beleave
- Solace Health (TerrAscend Corp. CSE:TER)
- Starseed Medicinal (private)
- THC BioMed (CSE:THC)
- The Flowr Corporation (private)
- 7ACRES – The Supreme Cannabis Company (TSXV:FIRE)
- Tilray Canada (NASDAQ:TLRY)
- United Greeneries – Harvest One (TSXV:HVT)
- Up Cannabis – Newstrike Cannabis (TSXV:HIP)
- We Grow BC
- WeedMD (TSXV:WMD)
- Whistler Medical Marijuana – Active stake owned by Cronos Group
- Zenabis (private)
Don’t forget to follow us @INN_Cannabis for real-time news updates!
Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Beleave, Maricann, Hiku Brands, The Supreme Cannabis Company and Harvest One are clients of the Investing News Network. This article is not paid-for content.
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.
News Provided by PR Newswire via QuoteMedia
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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