Maple Leaf Green World (TSXV:MGW; OTCQB:MGWFF) has entered into a formal purchase agreement with the owner of a vacant site comprising approximately four acres of land in Henderson, Nev. This new site is twice as large as the old site Maple Leaf was initially seeking to acquire and the purchase price of $875,000 (U.S.) is less than 50 per cent of the asking price for the old site originally targeted by the company and it is only two blocks away from the old site. The increased size of the new site also provides room for future expansion to a larger facility than the 33,500-square-foot building contemplated by the existing cultivation permit held by BioNeva Innovations of Henderson LLC. In addition, management believes the close proximity of this new site to the old site originally used by BioNeva to obtain the permit increases the likelihood that the City of Henderson will approve the transfer of the permit to this new site. The company intends to seek preliminary approval for the permit transfer before closing the land purchase. Once the land purchase is completed and while Maple Leaf is waiting for formal approval of such transfer, Maple Leaf will complete its acquisition of the permit through the purchase of 100 per cent of the shares of BioNeva. The company believes the substantially lower cost of its new site in Henderson, together with the larger area for potential expansion of its planned facility, will more than offset the additional time associated with the transfer of the permit and will also significantly enhance the future profitability of its Nevada operations.
About Maple Leaf Green World
- Canada — The company has applied for an ACMPR (access to cannabis for medical purposes regulations) licence for an 80,000-square-foot greenhouse complex in British Columbia in August, 2014, and is now in stage five (review) with Health Canada.
- California — The company is in a joint venture with a non-profit co-op to cultivate cannabis for its members with 20 acres of land and two greenhouses in production since September, 2016. Maple Leaf is also applying for a cultivation licence in the San Diego area.
- Nevada — The company is in the process of acquiring a cultivation permit for a 33,500-square-foot facility from an existing licensee and has plans for a facility operating in the city of Henderson, 15 miles from Las Vegas.
American cannabis sales hit US$17.5 billion in 2020, a research group’s new study shows.
Meanwhile, a Canadian cannabis producer began offering CBD beverages in the US, another move that shows how interested Canadians are in the overall US cannabis market at the moment.
Some pretty important news out of health and wellness; beverage and natural products company BevCanna Enterprises Inc. (CSE:BEV, Q:BVNNF, FSE:7BC) this week. For those of you following the Company with us, stay tuned.
As investors continue to prioritize cannabis opportunities in the US, market watchers expect mergers and acquisitions (M&A) to play a role in the future for Canadian companies.
A consolidation trend has been expected in the Canadian cannabis space for some time now based on the size of the market compared to the number of operations in the country.
BioHarvest Sciences Inc. Unveils the Unique Polyphenolic Content of Its Upcoming Olive-Based Nutraceutical
The product will include polyphenols known to have significant health benefits.
BioHarvest Sciences Inc. (CSE: BHSC) (“BioHarvest” or the “Company”) has reached an important milestone in its development program of additional Nutraceuticals. The olive-based Nutraceutical product scheduled for market availability in the second half of 2022 will contain the following unique matrix of polyphenols: hydroxytyrosol, trosol, and verbascoside. These compounds are the major polyphenols in naturally grown olives and are responsible for the high antioxidant activity of olives and olive oil. Importantly, the BioHarvest olive-based Nutraceutical product will provide all the benefits of olives and olive oil with a low calorie count per serving.
Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco” or the “Company”), one of the largest vertically integrated multistate cannabis operators in the United States, announced today that it will report financial results for the fourth quarter and full year ended December 31 st , 2020 on Thursday March 25 th , 2021 before the market opens.
The Company will host a conference call and webcast to discuss its financial results and provide investors with key business highlights on Thursday March 25 th , 2021 at 8:30am Eastern Time (7:30am Central Time).