LGC Capital (TSXV:LG) announced a new agreement for the acquisition in a stake of Viridi Unit SA of Switzerland, a cannabis supplier in Europe.

As quoted in the press release:


VIRIDI is a vertically integrated legal cannabis supplier to the Swiss and European markets, growing its own seeds and flowers, producing and developing a wide range of cosmetics, cigarettes and natural wellness Swiss authorized products amongst many of its diversified products and activities.

Under the terms of the agreement, LGC acquire its 30 [percent] interest through the issuance to Viridi of that number of common shares of LGC for a value corresponding to CHF 3 million ($3,940,498.91 CAD). The exact number of shares to be issued will be based on the 5 day WVAP of LGC common shares immediately prior to the closing date. It is estimated that the shares to be issued will represent less than 10 [percent] of the number of currently outstanding LGC shares. LGC will also receive a 5 [percent] lifetime royalty on VIRIDI’s net sales. For this transaction, a finder’s fee of around 3 [percent] cash and 3 [percent] in shares will be paid to an arm’s length party. This transaction will be subject to review and approval by TSXV.

John McMullen, CEO of LGC stated, “We see Europe as one of the most exciting markets for legal cannabis in the world, and to have this new business partnership and investment in VIRIDI reflects yet another valuable cannabis producing company joining LGC’s legal global cannabis investment portfolio. We believe that a team such as VIRIDI, will excel in the European Cannabis market, where projections for the overall market are currently estimated to be around €38 Billion (57.88 Billion CAD) per year growing to over €50 Billion (76.16 Billion CAD) in annual sales over time.

Click here to read the full press release.

CANBUD Distribution Corp. (CSE:CBDX, FSE:CD0) leverages on timely and methodical execution of its revenue generating plan. It operates a trinitarian enterprise model in the plant-based protein, psychedelic pharmaceutical and non-psychedelic nutraceutical, and hemp cannabinoids (CBD) spaces. (www.canbudcorp.com).

Keep reading... Show less

(TheNewswire)

Keep reading... Show less

Market entry will address pent-up demand in the Japanese & Philippine markets for TRACE proprietary plant-based mineral formulation and wellness-focused products

Emerging leader in innovative health and wellness beverages and natural products, BevCanna Enterprises Inc. ( CSE:BEV , Q:BVNNF , FSE:7BC ) (“ BevCanna ” or the “ Company ”) announces today that has entered into an exclusive sales agency distribution agreement with Yokohama-based Mirai Marketing Inc. (“Mirai”) to bring Naturo Group’s TRACE proprietary plant-based mineral consumer products to Mirai’s extensive Japanese and Philippine sales and distribution networks.

Keep reading... Show less

Further to its press release dated April 12, 2021, Ayurcann Holdings Corp. ( CSE: AYUR ) (the “ Company ” or “ Ayurcann ”), is pleased to announce that it has oversubscribed and upsized its non-brokered private placement (the “Offering”) due to strong investor demand. The Company now anticipates that the Offering will be completed for gross proceeds of not less than $550,000.00, consisting of not less than 2,910,053 units (“Units”) at a price of $0.189 per Unit. Each Unit is comprised of one common share of the Company (a “Common Share”) and one half of one Common Share purchase warrant (a “Warrant”). Each Warrant is exercisable to acquire one Common Share at an exercise price of C$0.38 per Common Share for a period of 36 months from the date of closing of the Offering (the “Closing Date”), scheduled for April 22, 2021. The Units will have a hold period of four months and one day from the date of issuance.

Ayurcann CEO Igal Sudman commented: “We are very pleased with the demand we are seeing for the Offering. The feedback we have received to date is showing that our business is resonating with investors. We’re looking forward to closing the offering and proceeding with the planned Phase 2 build out, which will help greatly increase our facility’s capacity.”

Keep reading... Show less

UK InstaCoin APP Promises to Open NFTs up to the Masses through Social Media

Codebase Ventures Inc. (“Codebase” or the “Company”) (CSE:CODE)(FSE:C5B)(OTCQB:BKLLF) is pleased to provide an update on its recent investment in InstaCoin Technologies Ltd., a newly formed UK entity

Keep reading... Show less