Danbel Ventures Inc. is pleased to announce that it has entered into a binding letter agreement (the “Letter Agreement“) with MariCann Inc. (“MariCann“), to acquire a 100% interest in MariCann which will constitute a reverse takeover of Danbel by the shareholders of MariCann (the “Transaction“). As presently contemplated, it is expected that the Transaction will be completed by way of a merger under the Business Corporations Act (Ontario) or similar business combination transaction. The parties intend to apply for listing of the Resulting Issuer’s common shares on the TSX Venture Exchange (“TSXV“), with such listing to be effective concurrently with the completion of the Transaction (the “Listing Date“).
About MariCann
MariCann is a vertically integrated producer and distributor of marijuana for medical purposes. The company was founded in 2013 and is based in Langton, Ontario where it operates a cultivation, marijuana extraction and distribution business under federal licence from the Government of Canada. As one of 36 companies with a federal licence to cultivate cannabis and one of 22 independent licensed producers with a federal licence to process and distribute cannabis, MariCann services a patient base with more than 3,000 active patients. MariCann is currently undertaking an expansion of the cultivation and support facilities to support existing and future patient growth.
Terms of the Transaction
As part of the Transaction, Danbel will seek shareholder approval for the following: (i) the Transaction, (ii) a change of its name as determined by MariCann (the “Resulting Issuer“), (iii) a consolidation of its common shares at a ratio of 1 new common share for such number of Danbel shares (the “Consolidation“) that results in Danbel having a maximum of 1,250,000 post-Consolidation common shares at a deemed price of $1.00 per share outstanding on a fully diluted basis on the closing date, (iv) the election of five (5) new board members who will replace the existing board members and take office upon completion of the Transaction; and (v) all such other ancillary matters as may be required. In addition, all current outstanding debt of Danbel will be settled by way of issuance of 5,500,000 common shares prior to closing and all unexercised incentive stock options of Danbel will be cancelled immediately prior to the closing of the Transaction.
Pursuant to the terms of the Transaction, each issued and outstanding common share of MariCann will be exchanged for one (1) common share of the Resulting Issuer. In addition, all outstanding incentive stock options and purchase warrants of MariCann will be exchanged for an option or warrant of the Resulting Issuer on equivalent terms after having given effect to all of the transactions contemplated by the Transaction.
MariCann completed a $22,500,000 financing on the date hereof (the “Financing“) with Dundee Securities Ltd. (the “Agent“). Pursuant to the terms of the Financing, MariCann issued 22,500 units (the “Units“), with each Unit comprised of one senior unsecured convertible debenture with a principal amount of $1,000 (a “Debenture“) and 500 common share purchase warrants (the “Warrants“). Immediately prior to completion of the Transaction, the principal amount of the Debentures will be converted into common shares of MariCann at a conversion price of $1.00 per share and subsequently be exchanged for common shares of the Resulting Issuer pursuant to the Transaction. The Warrants will similarly be exchanged pursuant to the Transaction or will otherwise be exercisable into common shares of the Resulting Issuer at an exercise price of $1.25 per share for a period of two years from the Listing Date, subject to an accelerated expiry in the event that the volume weighted average price of the Resulting Issuer common shares for any 20 consecutive trading days equals or exceed $1.90.
As partial consideration for their services, the Agent was issued 900,000 compensation options (the “Compensation Options“). Each Compensation Option will be exchanged pursuant to the Transaction or will otherwise be exercisable to purchase one unit of the Resulting Issuer at an exercise price of $1.00 for a period of two years from the Listing Date. Each unit will be comprised of one common share and one common share purchase warrant of the Resulting Issuer, with each warrant entitling the holder to acquire one common share of the Resulting Issuer for a period of two years from the Listing Date.
Upon completion of the Transaction, it is anticipated that the Resulting Issuer will have approximately 68,701,298 Resulting Issuer common shares issued and outstanding, which includes the conversion of the Debentures issued under the Financing. It is also anticipated that there will be 16,536,355 warrants and stock options of the Resulting Issuer outstanding, exercisable into 16,536,355 Resulting Issuer common shares and 900,000 Compensation Options outstanding.
The completion of the Transaction will be subject to, among other things, the execution of definitive documentation, the completion of all necessary due diligence and the receipt of any required shareholder, TSXV or other regulatory approvals. Additional information with respect to the Transaction will be provided in a subsequent news release once further terms are settled and a definitive agreement is entered.
Click here to read more. 

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 its participation in the following investor conferences:

  • Needham 2nd Annual Virtual Cannabis Conference – March 3 rd , 2021 – Management will participate in virtual one-on-one meetings.
  • 33rd Annual Roth Conference – March 15 th -17 th , 2021 – Charlie Bachtell, CEO and Co-Founder, will participate in a Fireside Chat and management will later participate in virtual one-on-one meetings on April 7 th .
  • Stifel Multi-Sector Conference – April 21 st , 2021 – Management will participate in virtual one-on-one meetings.

About Cresco Labs

Keep reading... Show less

Green Thumb Industries, a leading cannabis consumer packaged goods company and owner of Rise™ Dispensaries, is expanding key partnerships and creating scholarships earmarked for those from communities most impacted by the war on drugs as part of its corporate social responsibility program. The scholarships will be granted to a total of four students for programs at the Cleveland School of Cannabis in Ohio and Olive-Harvey College in Illinois. Additionally, Green Thumb will continue its support of Cabrini Green Legal Aid and partner with the North Lawndale Employment Network in Chicago as part of ongoing collaborations that include financial support, volunteerism and awareness initiatives.

Building on the foundation of Green Thumb’s LEAP initiative, which provided pro-bono support for social equity license applicants in Illinois and which will soon offer business incubator resources to newly awarded social equity entrepreneurs, these impactful partnerships mark a critical next step in prioritizing diversity, equity, and inclusion in the cannabis industry.

Keep reading... Show less

All five flavours of the Company’s KOIOS™ nootropic beverage product are now being carried by Jensen’s, a regional supermarket chain operating in the San Diego, Los Angeles, and Palm Springs areas of Southern California. This placement of KOIOS™ follows several other recent placements of the Company’s beverage products in regional supermarket chains across the United States as part of a strategy to passively build market share in specific geographical areas.

Koios Beverage Corp. (CSE: KBEV; OTC: KBEVF) (the “Company” or “Koios”) is pleased to announce that the full range of five flavours of its KOIOS ™ nootropic beverages can now be purchased at all grocery stores operated by Jensen’s Foods (“Jensen’s”), a long-established family-owned grocery chain operating in the San Diego, Los Angeles, and Palm Springs areas of Southern California. In a press release dated February 19, 2021 the Company announced another chain-wide placement of KOIOS ™ nootropic beverages on the west coast of the United States with Market of Choice in Oregon. With this placement of KOIOS ™ in Jensen’s supermarkets, the Company’s beverage products are now carried in approximately 180 retail stores on the west coast, out of a total of more than 4,000 retail stores nationwide.

Keep reading... Show less

 Lobe Sciences Ltd. (CSE: LOBE) (OTC Pink: GTSIF) (“Lobe” or the “Company”) announces that Philip Young, CEO and Director, and Maghsoud Dariani, Chief Science Officer will be presenting on Thursday, February 25th, 2021 at 5:45 pm EST at “The Gold Standard in Psychedelic Investment, Psychedelic Capital Virtual Investment Conference”, a platform showcasing the top companies, latest IPOs, newest opportunities, and deepest industry insights.

As a presenting sponsor, the Company will connect directly with some of the earliest moving investors in the psychedelic industry and reach an audience of 2,000+ investors. Presentations are 30 minutes in length, with 10 minutes allocated to a one-on-one Q&A session with the audience.

Keep reading... Show less

As Canadian operators race to strengthen their positions in the cannabis landscape, are international pursuits outside North America still top of mind?

The role that mergers and acquisitions (M&A) have played in the expansion of Canadian companies across the globe has been monumental for the growth of the cannabis industry. Now the space has reached a critical point as the demands of the US market increase.

Keep reading... Show less