InnoCan Pharma Corporation (“InnoCan” or the “Company”) (CSE:INNO) announced today that it has signed an agreement with Biogenesis Inc.( “Biogenesis”) of NJ, USA to manufacture its cannabidiol (CBD) based cosmetic and OTC topical products for the US market.
Biogenesis will manufacture InnoCan’s CBD OTC topical and cosmetic products in accordance with Innocan’s formulations as developed by Innocan’s R&D team led by Nir Avram, a senior pharmaceutical scientist with more than 30 years’ industry experience.
Biogenesis will be responsible for procurement of raw (other than CBD inputs, which are the responsibility of InnoCan to provide to Supplier) according to InnoCan specs, manufacturing, and filling and packaging services in their state of the art facilities in New Jersey.
Iris Bincovich, CEO of InnoCan, said, “We have now reached our final milestone to prepare for full retail commercialization of InnoCan products in 2020. Our intention was for InnoCan to enter the world’s largest CBD cosmetic and OTC topical markets and this agreement, along with our recent manufacturing agreement in the EU, positions InnoCan to be well positioned to profit in the rapidly growing consumer market for CBD enhanced products. Biogenesis is a leading manufacturer and provides InnoCan with the necessary expertise, experience and reputation to produce its products for the US market. Initial production will be focused on small lot sizes to build a US domestic distributor and consumer presence. We are targeting commencement of manufacturing in the United Stated for [March 2020].”
About InnoCan Pharma Corporation
InnoCan Pharma brings pharmacological rigour to the burgeoning CBD marketplace. The founders and officers of InnoCan all have commercially successful track records in the pharmaceutical and technology sectors in Israel and globally. InnoCan’s business has three distinct operating segments relating to the incorporation in products of CBD in their formulation: (i) research, development, marketing, distribution and sales of InnoCan-branded OTC pharmaceutical products; (ii) research and development of non-pharmaceutical products for third parties in exchange for fees and/or royalties; and (iii) research and development of hydrogels containing liposomes intended for licensing or sale to third party pharmaceutical corporations for manufacturing, distribution and sales. http://innocanpharma.com/
About Biogenesis Inc.
Biogenesis is a full-service FDA registered and certified GMP facility, contract manufacturer of skin care, over the counter (OTC) preparations and color cosmetic (makeup) products.
Biogenesis executes operations through a state of the art web-based custom manufacturing management system which tracks projects from receiving customer components, raw material inventory, QC control, and formulation all the way through shipment of manufactured customer products.
For further information, please contact:
For InnoCan Pharma Corporation
Iris Bincovich, CEO
For Investor Relations
Proconsul Capital Ltd.
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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.