Lotus Ventures Inc (CSE:J) (the “Company”) announced today that its licensed producer application for its Armstrong, BC purpose-built indoor facility (the “Application”) under the Access to Cannabis for Medical Purposes Regulations (“ACMPR”) is currently in “active review”. Following the successful completion of Health Canada’s paper review of the Application, the Company will be required to submit an evidence package demonstrating that the purpose-built indoor facility is a functioning facility that adheres to the ACMPR.

In conjunction with this announcement, the Company is pleased to confirm that its partner, Cannabis Wheaton Income Corp. (“CBW”) has subscribed, by way of a private placement, for 1,818,181 units (each a “Unit”) in the capital of the Company at a price per Unit of $0.55 (the “Subscription”) for aggregate proceeds of $1,000,000. Each Unit consists of one common share of the Company and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant is exercisable into one common share in the capital of the Company for a period of 36 months from the date of issue, at an exercise price of $1.00 per Warrant. Concurrently with the Subscription, the Company and CBW have amended and restated their original interim agreement to decrease the initial financial commitment of CBW by an aggregate amount of $1,000,000.


“Both these announcements are material milestones for the company and our shareholders. We are very pleased to be working with CBW on our future expansion plans,” said Dale McClanaghan, CEO of Lotus Ventures, Inc.

Hugo Alves, President of CBW, stated, “We want to congratulate our streaming partner Lotus on their progress towards licensing. We’re excited to invest in Lotus and we believe that they have a unique approach to indoor cultivation and a management team that can successfully scale up their operations.”

ON BEHALF OF THE BOARD
Lotus Ventures Inc.
“Dale McClanaghan”
Dale McClanaghan, President and CEO

About Lotus Ventures, Inc.

Lotus is a late stage licensed producer (“LP”) applicant under the ACMPR rules and regulations, in active review with Health Canada. The unique business model combines an upstream royalty financing model with CBW and a downstream licensing model with farmer/grower partners using Lotus technology and intellectual property. The first facility is currently under construction in Armstrong, B.C. It is a purpose built, “state of the art” indoor facility with proprietary processes. The company has previously announced its first farmer/grower partner with its second facility slated in Ontario. See our December 14, 2017 press release for more details. The Lotus approach enables a scalable and reliable low-cost, high quality production at our BC facilities and our national partners.

For further information: Dale McClanaghan: dalemcclanaghan@gmail.com (604) 644-9844 or Daniel McRobert, Communications danielmcrobertt@gmail.com (604) 842-4625

About Cannabis Wheaton Income Corp.

CBW is a collective of entrepreneurs with a passion for the cannabis industry past, present and future. CBW’s mandate is to facilitate growth for our partners by providing them with financial support and sharing our collective industry experience. CBW’s partners all have different visions, voices and brand values, and all share a common goal—to build a world-class industry based on ethics, diversity, quality and innovation.

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.

Keep reading... Show less

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.

Keep reading... Show less

Mergers and acquisitions (M&A) in cannabis space have helped boost the industry to new levels.

Keep reading... Show less

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”).

Keep reading... Show less

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.

Keep reading... Show less