Mackie Research initiated coverage of Valens GroWorks Corp (CSE:VGW), a vertically-integrated producer of cannabis products focusing on the development of proprietary extraction processes. With the help of its three wholly-owned subsidiaries, the company is focused on producing and selling high-margin products from cannabis oil, with a current processing capacity of more than 72,000 kilograms per year. Its revenue streams include cannabis oil, resin and white label products. In its report Mackie forecasts that the majority of the company’s revenue will stem from cannabis extraction tolling agreements with licensed producers under the ACMPR.

The Mackie report covers a variety of facets of the company, including its extraction processes, potential growth through cannabis oils and derivative products, joint venture opportunities and the strength of the company’s balance sheet.


The company has developed proprietary extraction processes using specific extraction parameters to produce high-quality oils and resins. The company is also perpetually evaluating its processes for improvements, ensuring minimal waste and higher efficiencies.

Mackie also identified that as the Canadian market follows the trends of legalized US states, that there is significant opportunity for growth in the cannabis oil and extracts space. Valens has developed a presence in this segment of the industry by installing carbon dioxide and ethanol extraction systems that have been customized to ensure that the product retains valuable compounds that might otherwise be lost in the refining process.

On the cultivation side, Valens is taking part in a joint venture with Kosha Projects Inc. for the development of a 400,000-square-foot hybrid greenhouse that hosts controlled-environment and strain-segregated capabilities. Valens will be responsible for the design, outfitting inputs, budgetary guidance, consulting and advisory services during the construction and development of the facility.

The company currently has $5 million in net cash and its production and processing facility in Kelowna BC is fully funded. Mackie gives Valens a buy rating with a $4.50 share target.

To read the full report, click here.

Click here to connect with Valens GroWorks Corp (CSE:VGW) for an investor presentation.

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.

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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.

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

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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”).

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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.

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