Kalytera Therapeutics, Inc. (TSXV:KALY, OTCQB:KALTF) (the “Company” or “Kalytera”) today announced that it has entered into an agreement with Beetlebung Pharma, Ltd. (“BPL”) for an option to acquire all rights to medical cannabis products in development by BPL for the treatment of both dermatologic diseases and women’s health.
Under this agreement, Kalytera will have the option to license from BPL certain proprietary medical cannabis formulations, which can initially be brought to market in jurisdictions that have already approved access to cannabis for medical purposes. Kalytera believes that this will provide a more near-term path to revenues, compared with the lengthier process required for commercialization following FDA approval.
The collaboration with BPL will bring together Kalytera’s expertise in clinical pharmaceutical development, with BPL’s proprietary cannabis technology. Kalytera is a leader in the development and commercialization of cannabinoid pharmaceuticals with a late-stage clinical program in the prevention and treatment of acute graft versus host disease, and BPL is an Israeli-based pharmaceutical discovery company conducting world-class research and development in the field of cannabinoid and cannabis-based therapeutics, with specific expertise in the development of novel formulations of cannabis extract.
“Research has demonstrated that medical cannabis possesses extraordinary therapeutic potential,” stated Robert Farrell, President and CEO of Kalytera. “However, many of the medical cannabis products currently available have not been shown to be safe and effective in treatment of specific diseases. There have been few, if any, clinical trials to date conducted in compliance with GCP standards supporting the safety and efficacy of these products. Kalytera and BPL intend to address these issues and bring to market proprietary medical cannabis formulations for the treatment of dermatologic diseases and women’s health that will meet the standards of the pharmaceutical industry.”
The strategic aim of the alliance is to expedite development and commercialization of efficacious and low cost medical cannabis products that can be marketed in jurisdictions such as Australia, Canada, Germany and Israel, where access to medical cannabis has been legalized.
Kalytera and BPL are already collaborating in the development of a novel cannabinoid-based compound for the treatment of acute and chronic pain. Patents for this compound have been filed in the U.S. and other jurisdictions, and Kalytera has obtained an exclusive, worldwide license for this compound from BPL (the “Pain Therapeutic License”).
BPL is in the process of preparing patent applications for Canada, the U.S. and other jurisdictions that will cover all compounds invented by BPL in the fields of dermatologic diseases and women’s health. Following each such patent filing, Kalytera may exercise its option to acquire from BPL an exclusive worldwide license for the patent pending compound.
The terms of such license will be substantially similar to the terms of the Pain Therapeutic License. To secure the exclusive option from BPL, Kalytera has paid BPL an initial fee of US$25,000. If it exercises its option to license, Kalytera will pay an additional US$25,000 plus any historical patent costs, royalties equal to a single-digit percentage of Net Sales (as defined in the license agreement), sublicensing fees in the event that Kalytera sublicenses its rights under the license and future contingent milestone payments payable in cash. Kalytera would also enter into a sponsored research contract with BPL under which BPL would design, manage and conduct a clinical study of patients (likely in Canada and/or Israel) designed to provide data to be used to market products covered by the license.
“We are pleased and excited to announce this new alliance,” said Robert Farrell. “BPL is doing world-class research and development work in the field of cannabinoid and cannabis-based therapeutics, and this alliance will expand our existing collaboration beyond the field of pain.”
Kalytera’s Exclusive Option to License Proprietary Medical Cannabis Formulation for the Treatment of Psoriasis
The initial dermatologic product that Kalytera has obtained an option to license from BPL for commercialization on a worldwide basis is a topical medical cannabis extract for the treatment of psoriasis. Kalytera expects to initially commercialize this product in Canada.
The global psoriasis drug market is expected to be valued at US$21.4 billion by 2022, according to a new market research report by Grand View Research, Inc., and the rising prevalence and incidence of psoriasis is anticipated to fuel the market’s growth.
Severe psoriasis is currently treated with monoclonal antibody therapeutics costing more than US$25,000 per year, and Kalytera will seek to bring to market a potentially safer, more effective, and less expensive medical cannabis extract for the treatment of severe psoriasis.
A research review conducted by researchers at the University of Colorado Anschutz Medical Campus, and recently published in the Journal of the American Academy of Dermatology, concluded that cannabinoids are effective against psoriasis. However, an obstacle to effective transdermal treatment of psoriasis is the barrier property of the stratum corneum, the outer layer of skin. The stratum corneum is a thick tissue layer comprising a structured lipid/protein matrix that acts as a barrier for uptake of topically administered agents. Drug formulations with a particle size exceeding 500 nanometers in diameter are unable to penetrate the stratum corneum. Most topical cannabis formulations, such as those prepared with coconut oil, which typically have a droplet size of 1,000–10,000 nanometers, are thus far too large to penetrate the stratum corneum barrier and are of no clinical benefit.
In contrast, medical cannabis extract for treatment of psoriasis developed by Kalytera is expected to have a particle size of approximately 80 nanometers. If successfully developed, this formulation would be the first in its class intended to allow the whole-plant resin to pass through the stratum corneum barrier, and to diffuse into the stratum basale (the lowest layer of the epidermis), where the cannabis compounds are expected to bind to the CB1 and CB2 receptors in the skin, muscle tissue, immune cells, and sensory nerves. Binding of cannabinoids to these receptors has been demonstrated to reduce inflammation and hyper proliferation of cells, both of which are the hallmarks of the psoriatic disease process.
To further improve uptake of the cannabis extract, Kalytera intends to enhance the formulation with select naturally-occurring terpene and sesquiterpene compounds from the cannabis plant that are often lost during the extraction process. This approach should allow large amounts of terpenes and sesquiterpenes to be co-administered along with the cannabis extract. These terpenes and sesquiterpenes may contribute to an entourage effect, thereby potentially improving the effectiveness of the cannabis extract.
Kalytera’s Exclusive Option to License Proprietary Sustained Release Medical Cannabis Formulation for the Treatment of Menstrual Cramps
In the area of women’s health, the initial product that Kalytera has obtained an option to license is a medical cannabis extract for the treatment of severe menstrual cramping, a condition known as dysmenorrhea. Kalytera intends to initially commercialize this product in Canada, and later on a worldwide basis. Later products in the field of women’s health that Kalytera may license include additional medical cannabis formulations for post-menopausal female sexual dysfunction, including vaginal dryness and dyspareunia (pain on intercourse).
According to a report by Market Research Future, the global market opportunity for treatment of dysmenorrhea is expected to reach US$8.40 billion in 2023 from US$5.68 billion in 2016, with a compound annual growth rate of approximately 12.28% during the forecast period 2017-2023. In addition to various medical cannabis products marketed for the treatment of dysmenorrhea, other pharmaceutical treatments include non-steroidal anti-inflammatory drugs (NSAIDs), and various hormonal based oral contraceptive drugs. As reported by Market Research Future, patients report high levels of dissatisfaction with the currently available therapeutics.
Extensive medical research has demonstrated that cannabis is effective in relieving pain associated with an array of conditions, including dysmenorrhea. A number of medical cannabis products are currently available for the treatment of dysmenorrhea, including vaginal suppositories containing 10 mg of tetrahydrocannabinol (“THC”) and 50 mg of cannabidiol (“CBD”). However, there have been no clinical trials to date supporting the safety and efficacy of these products. Furthermore, these suppositories are absorbed into the bloodstream rapidly, resulting in only a transient reduction in menstrual cramping reported to last for only an hour or so, whereas Kalytera believes a more sustained treatment is required.
The product in development for the treatment of dysmenorrhea is a vaginal suppository that will utilize a sustained release proprietary formulation intended to provide a smooth and consistent release of cannabinoids at steady levels over a period of 8 to 12 hours. Kalytera believes this product could make significant inroads in this market following completion of a clinical study demonstrating safety and efficacy in the treatment of dysmenorrhea.
If it exercises its option to license this technology, Kalytera expects to work with BPL to conduct an initial clinical study in Canada and Israel to provide marketing data in support of commercialization for this product in those and other jurisdictions that have legalized access to medical cannabis. Following initial market launch in these jurisdictions, Kalytera plans to conduct registration-directed clinical studies for FDA approval, in order to access larger commercial markets.
Kalytera’s Continuing Expansion and Diversification Within the Field of Cannabinoid Therapeutics
The strategic alliance announced today is another step in Kalytera’s expansion and diversification of its cannabinoid-based product development portfolio. Kalytera currently has an ongoing late-stage clinical program with cannabidiol (“CBD”) in the prevention and treatment of acute graft versus host disease, as well as a pre-clinical cannabinoid-based therapeutic program in the treatment of pain.
About Kalytera Therapeutics
Kalytera Therapeutics, Inc. is pioneering the development of CBD therapeutics. Through its proven leadership, drug development expertise, and intellectual property portfolio, Kalytera seeks to establish a leading position in the development of CBD medicines for a range of important unmet medical needs, with an initial focus on acute graft versus host disease and treatment of acute and chronic pain.
About Beetlebung Pharma
Beetlebung Pharma Limited (BPL), an Israeli affiliate of the Salzman Group, focuses on the discovery and development of novel cannabis-related pharmaceutical therapeutics. The Salzman Group provides clinical management and other services to Kalytera in connection with Kalytera’s programs evaluating CBD in the prevention and treatment of graft versus host disease. BPL has invented a broad range of cannabinoid new chemical entities in therapeutic areas encompassing pain, inflammation, autoimmunity, ischemia-reperfusion injury, trauma, and central nervous system injury. BPL is also active in the development of novel formulations of existing cannabinoids, terpenes, and sesquiterpenes that may contribute to the entourage effect. To provide scientific support for its pharmaceutical programs, BPL carries out biological research on terpenoid cell signaling and pharmacology in its basic research laboratories. BPL is a private, closely held corporation.
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Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release may contain certain forward-looking information and statements (“forward-looking information”) within the meaning of applicable Canadian securities legislation, that are not based on historical fact, including without limitation in respect of its product candidate pipeline, planned clinical trials, regulatory approval prospects, intellectual property objectives and other statements containing the words “believes”, “anticipates”, “plans”, “intends”, “will”, “should”, “expects”, “continue”, “estimate”, “forecasts” and other similar expressions. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, the risk that future clinical studies may not proceed as expected or may produce unfavourable results, the risk that Kalytera may not be able to exercise the options described above in the event it is not able to fund the development of the optioned technology, the risk that development and commercialization of the formulations described herein may not be completed as expected, the risk that such formulations may not exhibit the expected mechanism of action and may not have the desired safety and efficacy profile, and other regulatory and market risks. Kalytera undertakes no obligation to comment on analyses, expectations or statements made by third parties, its securities, or financial or operating results (as applicable). Although Kalytera believes that the expectations reflected in forward-looking information in this press release are reasonable, such forward-looking information has been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond Kalytera’s control. The forward-looking information contained in this press release is expressly qualified by this cautionary statement and is made as of the date hereof. Kalytera disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.
Codebase Ventures Inc. (“Codebase” or the “Company”) (CSE:CODE)(FSE:C5B)(OTCQB:BKLLF) is pleased to announce that it has issued a total of 7,400,000 options pursuant to its incentive stock option plan (“Plan”) to management, employees and consultants. Each option entitles the holder to subscribe for one common share of the Company for $0.265 for a period of 5 years, subject to the terms of the Plan
The Company has also agreed to engage Aktiencheck.de AG, for €50,000 for a European marketing and news dissemination program. The length of such program depends upon the Company’s future news flow.
About Codebase Ventures Inc.
Codebase Ventures Inc. seeks early-stage investments in sectors that have significant upside. We seek innovators who are establishing tomorrow’s standards. We support those innovators and help take their ideas to market.
For further information, please contact:
George Tsafalas – Ivy Lu
Telephone: Toll-Free (877) 806-CODE (2633) or 1 (778) 806-5150
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management’s current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “predicts”, “intends”, “targets”, “aims”, “anticipates” or “believes” or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
SOURCE: Codebase Ventures Inc.
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Khiron Receives Accreditation for UK Medical Cannabis Education and Partners with UK’s Cellen Therapeutics to Improve Clinician Education
- Company has received UK Continuing Professional Development (“CPD”) accreditation for its global education platform, Khiron Academy
- UK medical professionals may now earn CPD credits through Khiron’s medical cannabis education program
- The Company has entered into a strategic partnership with Cellen Therapeutics, a leader in digital healthcare in the UK, to increase patient access via medical cannabis education
- As a leading international medical cannabis educator, nearly 1,000 medical professionals in Latin America and the United Kingdom have registered for, or completed, Khiron Academy training
Khiron Life Sciences Corp. (“Khiron” or the “Company”) (TSXV: KHRN) (OTCQX: KHRNF) ( Frankfurt : A2JMZC), a vertically integrated cannabis leader with core operations in Latin America and Europe is pleased to announce it has received UK Continuing Professional Development (“CPD”) accreditation for Khiron Academy, the Company’s global medical cannabis education platform.
Additionally, following its accreditation, the Company has entered into a strategic partnership with Cellen Therapeutics, a leader in digital healthcare in the UK and fellow founding member of Project Twenty21, to increase patient access through medical cannabis education initially. Khiron Academy will be made available to prescribers in the UK that have registered with Cellen’s MedCanHub, an emerging education portal. Cellen is market leader, widely recognized for also launching the UK’s first digital pain clinic, Leva.
Tejinder Virk , President of Khiron Europe, commented, “Over the last year, Khiron has seen a direct correlation between physician education and patient access. With Khiron Academy’s CPD accreditation and through our strategic partnership with Cellen Therapeutics, we are positioned to reach a growing number of medical professionals, and in turn, provide patients with greater access to medical cannabis products.”
Eric Bystrom , CEO of Cellen commented, “We are pleased to be joining forces with Khiron on educating prescribing specialists in the UK. Khiron is a clear global leader in medical cannabis education. We share common values in improving patient lives by educating doctors and optimizing the standard of medical care. Our aim is to create a practical guide for responsibly prescribing patients with safe and efficacious medical cannabis products.”
In the UK, Khiron continues to leverage educational materials developed by the Company to train medical professionals in Latin America , along with clinical data from thousands of Khiron patients. In addition to Cellen’s MedCanHub (accessible to medical professionals at https://medcanhub.cellenhealth.com/ ), Khiron Academy is available to members of the Medical Cannabis Clinicians Society (MCCS) and core to the training of prescribing specialists for Project Twenty21, a 20,000-patient observational study backed Drug Science in UK.
To date, the Company has trained nearly 1000 medical professionals in Latin America and the UK. Over the last year, physicians trained by Khiron in Latin America have issued over 13,000 prescriptions, with a compound monthly growth rate of nearly 50%. Khiron Academy will be a platform for sharing the Company’s clinical expertise, in conjunction with clinical data arising from Khiron’s wholly-owned clinics in LatAm.
About Khiron Life Sciences Corp.
Khiron is a vertically integrated medical and CPG cannabis company with core operations in Latin America , and operational activity in Europe and North America . Khiron is the leading medical cannabis provider in Colombia and the first company licensed in Colombia for the cultivation, production, domestic distribution and sales, and international export of both low and high THC medical cannabis products. The Company has filled medical cannabis prescriptions in Colombia , Peru , Germany and the United Kingdom , and is positioned to commence sales in Mexico , Germany and Brazil in 2021.
Leveraging wholly-owned medical clinics and proprietary telemedicine platforms, Khiron combines a patient-oriented approach, physician education programs, scientific expertise, product innovation, and agricultural infrastructure to drive prescriptions and brand loyalty. Its Wellbeing unit launched the first branded CBD skincare brand in Colombia , with Kuida TM now marketed in multiple jurisdictions in Latin America , the US and United Kingdom . The Company is led by Co-founder and Chief Executive Officer, Alvaro Torres , together with an experienced and diverse executive team and Board of Directors.
Visit Khiron online at investors.khiron.ca and on Instagram @khironlife.
This press release may contain certain “forward-looking information” and “forward-looking statements” within the meaning of applicable securities legislation. All information contained herein that is not historical in nature may constitute forward-looking information. Khiron undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of Khiron, its securities, or financial or operating results (as applicable). Although Khiron believes that the expectations reflected in forward-looking statements in this press release are reasonable, such forward-looking statement has been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond Khiron’s control, including the risk factors discussed in Khiron’s Annual Information Form which is available on Khiron’s SEDAR profile at www.sedar.com . The forward-looking information contained in this press release is expressly qualified by this cautionary statement and is made as of the date hereof. Khiron disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.
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Khiron Life Sciences
TRACE’s plant-based and alkaline wellness products to expand into key markets of Japan, China and the Philippines
Emerging leader in innovative health and wellness beverages and consumer products, BevCanna Enterprises Inc . ( CSE:BEV , Q:BVNNF , FSE:7BC ) (“ BevCanna ” or the “ Company ”) announces today its anticipated expansion into the Asia Pacific region, through its wholly-owned subsidiary Naturo Group. After completing a comprehensive market, distribution and partner assessment, the Company intends to initially launch its portfolio of TRACE health and wellness products in the key markets of Japan, China, and the Philippines, through multi-channel distribution outlets including e-commerce, retail, and wholesale.
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TRACE product family (Photo: Business Wire)
With a combined population of 1.633 billion people, or 21 percent of the world’s citizenry, the three countries signify a substantial opportunity for BevCanna. The markets’ growing and prosperous middle-class consumer base represents an ideal demographic for the TRACE products, as consumers increasingly opt for healthier lifestyle choices. The global nutraceutical market size is projected to reach US$722.49 billion by 2027, expanding at a CAGR of 8.3% over the forecast period; Asia-Pacific is expected to witness the fastest growth over the forecast period, particularly in Japan and China. 1 The Japanese market is particularly suited for the introduction of the TRACE brand, with its consumers having developed a decided preference for natural, health-conscious products. Two-thirds of Asian consumers believe in superfoods and natural health products for treating ailments 2 , representing a prime demographic for wellness-focused products.
“The Asian market is a natural fit for our TRACE line of plant-based and alkaline products,” said Melise Panetta, President of BevCanna. “We’ve been actively evaluating the market potential, while also fielding increased interest from Asian customers and partners in our TRACE plant-based mineral products and our Canadian natural alkaline spring water. Our portfolio of products will address a growing demand for nutraceuticals and wellness-focused natural products, and we’re pleased to announce our anticipated expansion into these significant markets”.
TRACE’s proprietary plant-based mineralized beverages and nutraceuticals contain fulvic and humic minerals, sourced from ancient organic compounds that are highly concentrated sources of trace minerals. Recognized benefits of the Health Canada-approved formulations include cognitive performance, gut health, immune function, and aiding the body in metabolizing carbohydrates, fats, and proteins. Mineral-enhanced water is increasingly popular in Asia for its purported benefits to human immune systems and brain health.
TRACE’s proprietary alkaline spring water is bottled at source in British Columbia’s Okanagan region. The alkaline water provides additional benefits to the consumer as compared to most tap and conventional bottled water, including the increased presence of hydroxyl ions, increased hydration, improved bone health, healthier skin and decreased gastrointestinal symptoms.
2 Natural Products Global June 27, 2017
About BevCanna Enterprises Inc.
BevCanna Enterprises Inc . ( CSE:BEV , Q:BVNNF , FSE:7BC ) is a diversified health & wellness beverage and natural products company. BevCanna develops and manufactures a range of plant-based and cannabinoid beverages and supplements for both in-house brands and white-label clients.
With decades of experience creating, manufacturing and distributing iconic brands that resonate with consumers on a global scale, the team demonstrates an expertise unmatched in the nutraceutical and cannabis-infused beverage categories. Based in British Columbia, Canada, BevCanna owns a pristine alkaline spring water aquifer and a world–class 40,000–square–foot, HACCP certified manufacturing facility, with a bottling capacity of up to 210M bottles annually. BevCanna’s extensive distribution network includes more than 3,000 points of retail distribution through its market-leading TRACE brand, its Pure Therapy natural health and wellness e-commerce platform, its fully licensed Canadian cannabis manufacturing and distribution network, and a partnership with #1 U.S. cannabis beverage company Keef Brands .
On behalf of the Board of Directors:
John Campbell, Chief Financial Officer and Chief Strategy Officer
Director, BevCanna Enterprises Inc.
Disclaimer for Forward-Looking Information
This news release contains forward-looking statements. All statements, other than statements of historical fact that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future are forward-looking statements. Forward-looking statements in this news release include statements regarding: the Company’s anticipated expansion into the Asia Pacific region, through its wholly-owned subsidiary Naturo Group, through multi-channel distribution outlets including e-commerce, retail, and wholesale; the markets’ growing and prosperous middle-class consumer base represents an ideal demographic for the TRACE products, as consumers increasingly opt for healthier lifestyle choices; that Asian consumers represent a prime demographic for wellness-focused products; the increased interest from Asian customers and partners in the Company’s TRACE plant-based mineral products and its Canadian natural alkaline spring water; that the Company’s portfolio of products will address a growing demand for nutraceuticals and wellness-focused natural products; and other statements regarding the business plans of the Company. The forward-looking statements reflect management’s current expectations based on information currently available and are subject to a number of risks and uncertainties that may cause outcomes to differ materially from those discussed in the forward-looking statements.
Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, undue reliance should not be put on such statements due to their inherent uncertainty. Factors that could cause actual results or events to differ materially from current expectations include, among other things: general market conditions; changes to consumer preferences; volatility of commodity prices; future legislative, tax and regulatory developments; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the inability to implement business strategies; competition; currency and interest rate fluctuations; inability to successfully negotiate and enter into commercial arrangements with other parties; and other factors beyond the control of the Company and its commercial partners. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law, and the Company does not assume any liability for disclosure relating to any other company mentioned herein.
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Trulieve acquires dispensary permits from Solevo Wellness West Virginia LLC for $650,000
Trulieve Cannabis Corp . (CSE: TRUL) (OTCQX: TCNNF), a leading and top-performing cannabis company in the United States and the largest cannabis company in Florida announced today that it acquired Solevo Wellness West Virginia LLC (“Solevo”) and its three West Virginia dispensary permits for $650,000 . Solevo was awarded two permits in Morgantown and one in Parkersburg in January 2021 as part of the West Virginia application process.
“This acquisition enables Trulieve to broaden and solidify our position in the newly created West Virginia market. Solevo was granted three dispensaries as part of the application process entered by the Company before becoming part of the Trulieve family. Adding Solevo to our production and dispensary permits, as well as our recently announced definitive agreement to acquire Mountaineer Holdings and its cultivation and dispensary permits, will create a fully vertical presence in the state with nine dispensaries,” said Kim Rivers , CEO of Trulieve. “We look forward to providing the highest level of cannabis products and customer experience through authentic and reciprocal relationships to West Virginia patients.”
Trulieve acquired Solevo and its three dispensary permits for an upfront payment of $150,000 in cash, and $500,000 in Trulieve subordinate voting shares (“Trulieve Shares”). Stock price is based on 10-day VWAP from the last trading day before signing. The transaction is contingent upon West Virginia state regulatory approval and customary closing conditions.
Advisors and Counsel
Fox Rothschild LLP is acting as legal counsel to Trulieve.
Trulieve is a vertically integrated “seed-to-sale” company 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 operates in California , Massachusetts , Connecticut and Pennsylvania . Trulieve is listed on the Canadian Securities Exchange under the symbol TRUL and trades on the OTCQX Best Market under the symbol TCNNF.
This press release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or the securities laws of any state of the United States and may not be offered or sold within the United States (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.
To learn more about Trulieve, visit www.Trulieve.com .
The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.
This news release includes forward-looking information and statements, which may include, but are not limited to, information and statements regarding or inferring the future business, operations, financial performance, prospects, and other plans, intentions, expectations, estimates, and beliefs of the Company and statements with regard to the Report and the Company’s response thereto. Words such as “expects”, “continue”, “will”, “anticipates” and “intends” or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on the Company’s current projections and expectations about future events and financial trends that management believes might affect its financial condition, results of operations, business strategy and financial needs, and on certain assumptions and analysis made by the Company in light of the experience and perception of historical trends, current conditions and expected future developments and other factors management believes are appropriate. Forward-looking information and statements involve and are subject to assumptions and known and unknown risks, uncertainties, and other factors which may cause actual events, results, performance, or achievements of the Company to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking information and statements herein. Although the Company believes that any forward-looking information and statements herein are reasonable, in light of the use of assumptions and the significant risks and uncertainties inherent in such information and statements, there can be no assurance that any such forward-looking information and statements will prove to be accurate, and accordingly readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance upon such forward-looking information and statements. Any forward-looking information and statements herein are made as of the date hereof, and except as required by applicable laws, the Company assumes no obligation and disclaims any intention to update or revise any forward-looking information and statements herein or to update the reasons that actual events or results could or do differ from those projected in any forward looking information and statements herein, whether as a result of new information, future events or results, or otherwise, except as required by applicable laws.
SOURCE Trulieve Cannabis Corp.
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Better Plant Sciences Inc. (CSE: PLNT) (OTCQB: VEGGF) (FSE: YG3) (“Better Plant”) or (the “Company”) a wellness company that develops and sells sustainable, plant-based products, is pleased to announce that it’s Jusu Home and Body line is now available for purchase on Faire Wholesale Marketplace (“Faire” or “www.faire.com”), an online wholesale marketplace valued at US $2.5 billion. Jusu Home and Body products are currently featured in their “New Arrivals” section.
Better Plant Announces Agreement with Faire Wholesale Marketplace For Jusu Home and Body Products
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Growing by 200% year over year, Faire currently serves over 170,000 independent retailers across North America, representing more retail locations than Marks & Spencer, Boots, Aldi, Starbucks, and Tesco combined. The platform has also recently launched in the United Kingdom and the Netherlands, with other European markets to follow in the coming months. “This partnership with Faire gives boutique retailers access to Jusu Home and Body products on a global scale and will showcase to retailers that are outside of our typical demographic”, says Amber Allen, Head of Sales for Better Plant. “We look forward to promoting Jusu products on this platform and connecting with many diverse buyers.”
Faire provides a holistic, end-to-end platform that enables independent retailers to build, grow, and run their businesses. Leveraging the Faire platform benefits retailers with perks such as payment flexibility and security, free returns, shipping solutions and data-driven recommendations.
According to a report by Globe Newswire, the global market for natural and organic personal care products is projected to reach a revised size of US $23.6 billion by 2027, growing at a CAGR of 9.3% over the analysis period 2020-2027.
Faire is a curated wholesale marketplace connecting more than 40,000 local retailers with thousands of emerging and established brands. Faire enables independent retailers to grow their business with the advantages of big box terms and empowers makers to seamlessly build and run their wholesale business. Faire was founded in 2017 and is powered by the idea that the future is local. Faire is backed by investors including Y Combinator, Lightspeed Venture Partners, Forerunner Ventures, Khosla Ventures, Sequoia Capital, Founders Fund, and DST Global. The company is headquartered in San Francisco, Kitchener-Waterloo, and Salt Lake City. To learn more, visit www.Faire.com.
About Better Plant:
Better Plant harnesses plant intelligence and leverages modern science to offer sustainable, plant-based products that are better for health and better for the earth. It makes and sells over 90 proprietary products, all made with 100% natural ingredients, under the brands Jusu, Urban Juve and Wright & Well. It has a direct-to-consumer platform for refrigerated goods that offers easy online ordering and convenient home delivery in select cities in Alberta and BC. Better Plant operates Jusu Bar, a quick serve restaurant alternative in Victoria, BC, which serves up fresh, healthy, and nutritious options with a focus on Jusu cold-pressed juices. Jusubar.com offers home delivery of refrigerated plant-based beverages consisting of cold-pressed juices and packaged juice cleanses. Through its Shopify enabled eCommerce sites getjusu.com and urbanjuve.com, Better Plant sells plant-based personal care products, including skin care, hair care, body care and baby care. Jusu also has a line of plant-based all-natural home cleaning products that are sold to cleaning companies, retailers and sold directly to consumers. Better Plant also offers operational, financial, and other services to companies with businesses that align with Better Plant’s mission to help create a better world. Better Plant incubated NeonMind, which sells medicinal mushroom infused coffees and is developing drugs with psychedelic ingredients to treat obesity and to suppress appetite. Better Plant owns approximately 27% of NeonMind, which trades separately as a public company under the tickers (CSE: NEON) and (OTCQB: NMDBF).
Penny White, President & CEO
Amber Allen, Head of Sales
The Canadian Securities Exchange has not reviewed, approved or disapproved the contents of this news release.
Cautionary Statement Regarding Forward-Looking Statements
This press release includes forward-looking information and statements (collectively, “forward looking statements”) under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates, forecasts, beliefs and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such risks, uncertainties and factors include, but are not limited to: risks related to the development, testing, licensing, brand development, availability of packaging, intellectual property protection, reduced global commerce and reduced access to raw materials and other supplies due to the spread of COVID-19, the potential for not acquiring any rights as a result of the patent application and any products making use of the intellectual property may be ineffective or the company may be unsuccessful in commercializing them; and other approvals will be required before commercial exploitation of the intellectual property can happen. Demand for the company’s products, general business, economic, competitive, political and social uncertainties, delay or failure to receive board or regulatory approvals where applicable, and the state of the capital markets. Better Plant cautions readers not to place undue reliance on forward-looking statements provided by Better Plant, as such forward-looking statements are not a guarantee of future results or performance and actual results may differ materially. The forward-looking statements contained in this press release are made as of the date of this press release, and Better Plant expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.
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