Marapharm Ventures (CSE:MDM) announced this week that that it has entered an agreement to acquire two provisional medical marijuana licenses from a Nevada based enterprise. The licenses allow for the cultivation and extract production of medical marijuana in the state.
As quoted in the press release:

The acquisition complements the Company’s business strategy to expand its business footprint within the U.S. emerging marijuana markets and the rapidly increasing number of legalized medical and recreational jurisdictions in the United States.
The terms of the agreement are for the initial acquisition of 75% of the Interests from a third party acting as agent. The provisional medical marijuana licenses consist of a 199,862 square foot cultivation approved license and a 16,320 square foot approved extract production license for edibles and all marijuana infused products. The purchase price is for USD $600,000, comprised of a cash portion of USD $300,000 principal due within one year at 4.5% interest payable monthly, and the balance of the purchase price to be paid from the issuance of USD $300,000 treasury shares of the Company to be issued at CDN $0.24 per share, with exchange calculated effective February 17, 2016 and subject to applicable regulatory hold periods. The Company has advanced approximately CDN $300,000 to the agent that will be offset to the purchase price on closing. The Company intends to complete negotiations on acquiring the remaining 25% Interests from the private corporation in the near future. The transaction is also subject to applicable statutory, regulatory, and compliance laws, and approvals, transfers and State security deposits as required.

Marapharm CEO, Les Kjosness, said:

We are excited about this latest step in our corporate development. Our business model is predicated on “early presence” within the newly re-regulated jurisdictions and aggressive expansion through acquisition of licensed operations. Through a combination of purchase and internal organic growth opportunities, we intend to expand our network of cultivation and production facilities in the United States. The rapidly changing political and business landscape for the entire sector presents an enormous opportunity for companies that are positioned to capitalize.

Click here for the full press release.

Lexaria Bioscience Corp. (NASDAQ:LEXX)(NASDAQ:LEXXW)(CSE:LXX) (the “Company” or “Lexaria”), a global innovator in drug delivery platforms, is pleased to announce the appointment of Mr. Al Reese, Jr., to its Board of Directors

Mr. Reese has over 40 years experience in public and private businesses including as CFO of a formerly Nasdaq-listed energy company where he arranged finance transactions totaling over $10 billion dollars during his 20-year tenure. Mr. Reese was a Director and Chairman of the Audit Committee of a community bank in Texas for ten years until such time as it was acquired by a larger banking group in 2018.

Keep reading... Show less

Mexico looks to be closer than ever to cannabis reform, with the country releasing its regulation plans to make the drug legal in medical settings.

Meanwhile, despite the financial hardships seen recently in the Canadian cannabis market, CEOs in the country are still receiving top dollar, as per a new study.

Keep reading... Show less

Not for Distribution to United States Newswire Services or for Dissemination in the United States

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 the pricing of its previously announced best efforts overnight marketed offering (the “Offering”) of subordinate voting shares (the “Offered Securities”) of the Company at a price of C$16.00 per share for a total gross proceeds of approximately US$125 Million. The issue price represents a 3.3% discount to the last close of the Company’s subordinate voting shares traded on the Canadian Securities Exchange as of January 14, 2021. 100% of the Offering is expected to be purchased by a total of seven new and existing institutional investors, including current shareholder, Wasatch Global Investors.

Keep reading... Show less

Wall Street Reporter, the trusted name in financial news since 1843, has published reports on the latest comments and insights from leaders at: Tilray, Inc. (NASDAQ: TLRY), Icanic Brands (OTC: ICNAF) (CSE: ICAN) Red Light Holland (OTC: TRUFF) (CSE: TRIP) and Aphria, Inc. (NASDAQ: APHA).

Investors are cheering new and expected legislation which is opening new market opportunities for both cannabis and psychedelics globally. Innovation in premium branding, growing technologies, manufacturing, with operational execution are key, in the drive towards profitability. Wall Street Reporter highlights the latest comments from industry thought leaders in cannabis and psychedelics:

Keep reading... Show less

Lexaria Bioscience Corp. (NASDAQ:LEXX)(NASDAQ:LEXXW)(CSE:LXX) (the “Company”) today announced the closing of its previously announced underwritten public offering (the “Offering”) of 1,828,571 units, each unit consisting of one share of common stock and one warrant to purchase one share of common stock at a public offering price of $5.25 per unit (all prices in US$). The warrants have an exercise price of $6.58 per share, are immediately exercisable and will expire five years following the date of issuance. In connection with the Offering, the underwriter exercised in full its option to purchase an additional 274,285 shares of common stock and additional warrants to purchase 274,285 shares of common stock. The gross proceeds from the Offering were approximately $11.04 million, before deducting underwriting discounts and estimated offering expenses. No securities were offered or sold in Canada, including through the CSE or any other trading market in Canada

H.C. Wainwright & Co. (“Wainwright”) acted as the sole book-running manager for the Offering and is a non-related party to the Company.

Keep reading... Show less