IC Potash Announces Closing of a Private Placement and Diversification into the Organic Fertilizer Market for Medical Cannabis
IC Potash (TSX:ICP) has announced the closing of a non-brokered private placement for proceeds of $690,200.
As quoted in the press release:
Each Unit consists of one common share of the Company (a “Common Share”); and (ii) one-half of one common share purchase warrant (each a “Warrant”). Each full Warrant entitles the holder to acquire one additional Common Share at an exercise price of $0.16 until March 1, 2018, provided that if, at any time after the date which is four months and one day following the Closing Date, the volume weighted average price of the Common Shares on the Toronto Stock Exchange (the “TSX”) equals or exceeds $0.21 for 18 consecutive trading days, the Company may accelerate the expiry date of the Warrants, in which event the Warrants will expire upon the date (the “Accelerated Expiry Date”) which is 30 days following the dissemination of a press release by the Company announcing the Accelerated Expiry Date. The Company paid a finder’s fee of $504 and no broker warrants.
The use of proceeds includes research and development of polyhalite as an organic fertilizer in the medical cannabis cultivation space. The initial focus will be to demonstrate the effectiveness of polyhalite as an organic fertilizer which is not only non-chloride but also a provides four macro and secondary nutrients for growing medicinal cannabis.
Mr. Mehdi Azodi, President and Chief Executive Officer of the Company stated, “The medical cannabis space is growing rapidly in Canada and internationally. Canada, Netherlands, Australia, Germany, Israel, Uruguay and Colombia have all passed legislation to allow for the cultivation of medical cannabis. The cultivation of the various strains of Cannabis plants in these different jurisdictions requires considerable fertilization by macro and micronutrients. All of the nutrients in polyhalite: Potassium, Magnesium, Calcium and Sulfate, are important nutrients for cannabis cultivation. Further, the cannabis leaves themselves benefit from non-chloride fertilizers and polyhalite is a non-chloride fertilizer. We are pleased to be expanding into this prolific space for future joint venture partners. The fact that polyhalite is an organic fertilizer makes this natural based product favorable to numerous international growers. Potassium takes part in the photosynthesis process, improves the resistance of plants, increases the consistency and strength of the plant, and increases the weight, density, and volume of the buds. Potassium, Sulfate, Calcium, and Magnesium all provide benefits during the vegetative and flowering stages of cannabis cultivation.”
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.
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.
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.
BioHarvest Sciences Inc. Unveils the Unique Polyphenolic Content of Its Upcoming Olive-Based Nutraceutical
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.
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).