Mota Ventures Corp. (CSE:MOTA, FSE:1WZ:GR)(OTC:PEMTF) (the “Company”) is excited to announce it has entered into a letter of intent (the “LOI”), dated February 5, 2020, with BevCanna Enterprises Inc. (“BevCanna”) (CSE:BEV), an arms’-length party. Under the terms of the LOI, the parties will negotiate a joint venture, which is expected to provide the Company with the exclusive right to sell and market BevCanna house brand lines of hemp derived CBD products in Europe.

The parties will share ownership in the joint venture equally, along with any costs of the venture. BevCanna will contribute in-house brands, formulations, proprietary intellectual property for water-soluble powders, marketing and manufacturing expertise. The Company will arrange manufacturing, marketing and distribution infrastructure across Europe, with a specific focus on, Spain, Portugal, Austria, Germany, France and the United Kingdom. The parties will work together to jointly determine the appropriate product launch, mix and timing for each individual European market. The joint venture is expected to be in place for an initial term of five years with a subsequent five year renewal option.


Formation of a joint venture remains subject to ongoing due diligence by each of the Company, and BevCanna, including a review of the intellectual property to be contributed to the joint venture, as well as the negotiation of definitive documentation. The Company will provide further information regarding the joint venture once terms have been finalized.

BevCanna and Mota will work together to launch a diverse infused beverage product portfolio ranging from proprietary water-soluble powder, to ready to drink formats. The CBD dosage, flavors, and branding will be jointly determined by the parties for each individual European market based on existing offerings and market dynamics. BevCanna’s formulation and product positioning is focused on the health and wellness market in North America.

According to Global Wellness Institute (GWI), the worldwide wellness market grew 12.9% from a $3.72 trillion in 2017 to a $4.2 trillion in 2018. Zenith Global estimates the CBD infused drinks market will reach $1.4 billion by 2023 in the US alone, making it one of the fastest-growing segments in the overall industry. CBD infused beverages will open the floodgates to new audiences who want to consume cannabis in different formats. They have many benefits that rival other methods of ingestions: easy to administer, more accessible, functionality and higher precision.

“The rising demand for Health and Wellness beverages that are infused with CBD globally is immense. We are at the inception of the revolution in the global CBD infused beverage arena. The market trends are evolving and it is evident the development in the CBD beverage market is a space that cannot be overlooked. A major indicator of how important the emerging beverage market is, was the acquisition of a significant stake in Canopy by Constellation Brands, one of the largest beverage companies in the world. We feel that by positioning ourselves to be early adopters in the European market we are poised to capture significant market share in an emerging industry.” stated Joel Shacker, CEO of the Company.

About Mota Ventures Corp.

Mota Ventures is seeking to become a vertically integrated global CBD brand. Its plan is to cultivate and extract CBD into high-quality value-added products from its Latin American operations and distribute it both domestically and internationally. Its existing operations in Colombia consist of a 2.5-hectare site that has optimal year-round growing conditions and access to all necessary infrastructure. Mota is looking to establish sales channels and a distribution network internationally through the acquisition of the Sativida and First Class CBD brands. Low cost production, coupled with international, direct to customer sales channels will provide the foundation for the success of Mota Ventures.

About BevCanna Enterprises Inc.

BevCanna Enterprises Inc. (CSE:BEV,Q:BVNNF,FSE:7BC) develops and manufactures cannabinoid-infused beverages and consumer products for in-house brands and white label clients. With decades of experience creating, branding and distributing iconic brands that have resonated with consumers on a global scale, the team demonstrates an expertise unmatched in the emerging cannabis beverage category. Based in British Columbia, Canada, BevCanna has a 292-acre outdoor cultivation site in the fertile Okanagan Valley and the exclusive rights to a pristine spring water aquifer, as well as a world-class 40,000-square-foot, HACCP certified manufacturing facility, with a current bottling capacity of up to 210M bottles per annum.

ON BEHALF OF THE BOARD OF DIRECTORS
MOTA VENTURES CORP.

Joel Shacker
Chief Executive Officer

For further information, readers are encouraged to contact Joel Shacker, President & CEO at +604.423.4733 or by email at IR@motaventuresco.com or www.motaventuresco.com

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management.

Cautionary Note Regarding Forward-Looking Statement

All statements in this press release, other than statements of historical fact, are “forward-looking information” with respect to the Company within the meaning of applicable securities laws, including with respect to formation of a joint venture with BevCanna, its plans to become a vertically integrated global CBD brand, its plans to cultivate and extract cannabis to produce CBD and high-quality value added CBD products in Latin America for distribution domestically and internationally and its plans to acquire revenue-producing CBD brands and operations in Europe and North America. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited those identified and reported in the Company’s public filings under the Company’s SEDAR profile at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.

Click here to see the educational profile for Mota Ventures (CSE:MOTA, FSE:1WZ:GR, OTC:PEMTF) and to request an investor presentation.

Source

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