Ontario’s alcohol and gaming regulator is facing criticism from the cannabis industry after naming the winners of the province’s second marijuana retail license lottery.
On Wednesday (August 21), the Alcohol and Gaming Commission of Ontario (AGCO) released the results of the lottery, adding 42 new store licenses plus eight more for stores on First Nations reserves.
Toronto will get the largest amount of brick-and-mortar stores, adding 13 new locations to the existing five that opened in April after the first round of the lottery. The other locations are spread across the Greater Toronto Area and the north, east and west regions.
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According to the AGCO, about 60 percent of applications were sent in by sole proprietors, while the rest were from corporations and partnerships, a similar breakdown to the previous draw.
Winners have until August 28 to apply for a retail operator license and a retail store authorization, after which the AGCO will start its full eligibility and licensing review.
The AGCO said the new selected stores are set to open in October of this year.
Really surprised to see that 60% of the entrants (and 70% of the winners) entered as sole proprietors…thought this percentage would be much lower this go round.
— Trina Fraser (@trinafraser) August 21, 2019
Legal cannabis sales doubled in the province once the original retail stores opened, rising to C$19.6 million from the C$7 million to C$8 million per month generated through online sales.
One unsuccessful lottery applicant, mīhī cannabis CEO Tom Dyck, told the Investing News Network (INN) that he’s not impressed with the government’s lottery system.
This is the second time mīhī has failed to draw a license in the lottery system, and while Dyck said he’s disappointed about not being selected, he also said, “(I’m) equally disappointed that the government should continue to build this really important industry through a game of chance.”
Dyck said that, since the legal cannabis industry has the potential to generate hundreds of millions of dollars in tax revenue and could combat the black market for the drug, a lottery system isn’t the best way to develop the industry when it is potentially this important to Ontario.
He added that his company is open to partnering with one of the lottery winners.
The provincial regulator said it received more than 4,800 expressions of interest for this round. The first lottery brought in almost 17,000 applicants back in January, before the AGCO tightened the application criteria after receiving criticism about the lack of a merit component in the application process.
This time around, applicants needed confirmation of access to C$250,000 in liquid assets as well as a bank letter stating that the applicant could get a C$50,000 standby letter of credit. The AGCO also required candidates to have already secured suitable retail spaces.
As of Wednesday, 24 of the 25 stores that were initially awarded retail licenses had been approved to operate by the AGCO.
Pretty sad that a merit-based process couldn’t have been implemented @Ont_AGCO. Only encourages gaming of the system by larger organizations, and greedy monetization by people/groups who have no interest in running a store in the first place… #SAD
— Aaron Salz (@StoicAdvisory) August 21, 2019
One cannabis company, FSD Pharma (CSE:HUGE,OTCQB:FSDDF), is now getting its chance to enter Ontario’s retail market. In December, the company announced a C$1.3 million investment in Toronto-based cannabis retailer Huge Shops. This lottery, the shop was awarded a license for a retail location in Kawartha Lakes.
The previous lottery saw a variety of partnerships between winners and public cannabis companies, such as Fire & Flower Holdings (TSXV:FAF,OTC Pink:FFLWF) and High Tide (CSE:HITI,OTCQB:HITIF). Fire & Flower announced deals with two lottery winners located in Kingston and Ottawa in February.
Fellow cannabis retailer Choom Holdings (CSE:CHOO,OTCQB:CHOOF) also got into Ontario’s retail space after signing a letter of agreement with a winner and creating a branded store in Niagara Falls that opened earlier this summer.
Don’t forget to follow us @INN_Cannabis for real-time news updates!
Securities Disclosure: I, Danielle Edwards, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: High Tide and FSD Pharma are clients of the Investing News Network. This article is not paid-for content.
The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
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Mergers and acquisitions (M&A) in cannabis space have helped boost the industry to new levels.
<p>At a critical point for the sector, <span>Monica Chadha, national cannabis leader for EY Canada, spoke about the state of M&A in the Canadian cannabis landscape and about </span>the framework needed for this activity.</p>
<p><span>Chadha shared with the Investing News Network her perspective on the factors that come into play whenever M&A enters the picture, and discussed the particularities involved in cannabis M&A.</span></p>
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<h2 align="center" class="ofie">Find out what experts say about profiting from the cannabis market in 2021!</h2></a>
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<p>“I think the flavor of the year, and maybe next year, will be consolidation, and I think companies that are not fortunate enough to raise or strategically deploy capital will likely see more closures,” Chadha said.</p>
<p>The Canadian cannabis marketplace has recently seen some critical acquisition deals, which may hint at the consolidation trend outlined by the expert.</p>
<p>As it stands, Canadian operators are <a href="https://investingnews.com/daily/cannabis-investing/us-focus-could-drive-ma-canadian-cannabis-operators/" rel="noopener noreferrer" target="_blank">increasingly interested</a> in the possibilities associated with the US cannabis market. One way these firms may gain access to the market below the border is through M&A.</p>
<p>As the leader of the cannabis team at EY Canada, Chadha works with businesses on their strategy, including evaluating the key initial aspects of what would make sense in terms of a partnership.</p>
<p>“Really evaluating some of the softer aspects of cultural fit, strategic direction, market presence are some of the factors we’d consider in conjunction with obviously financial,” Chadha said.</p>
<p>Check out the video above to hear the full conversation with Chadha and her insights on cannabis M&A.</p>
<p><i>Don’t forget to follow us</i><i> <em><a href="https://twitter.com/inn_cannabis" rel="noopener noreferrer" target="_blank">@INN_Cannabis</a> </em>for real-time news updates!</i></p>
<p><b>Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.</b></p>
<p><strong>Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.</strong></p>
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Lobe Sciences Completes Previously Announced Sale of Cannabis Assets to Ionic Brands
March 08 | 2021
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”).
<p>Philip Young, CEO and Director of Lobe stated, “This sale provides us with substantial non-dilutive capital to grow our business and accelerate our research and device development. Ionic Brands has been expanding their footprint in the US cannabis market, and this sale allows Lobe to continue to be invested in this exciting sector. The Company continues to focus on its psychedelics business segment, and plans to provide an update on its pre-clinical studies with the University of Miami in the near future. The Company intends to capitalize on the growing mental health sector including the use of other psychedelics with and without NAC using our proprietary nasal delivery device.”</p>
<p><b>Transaction Highlights:</b></p>
<ul class="ee-ul"><li>Strengthens Lobe’s balance sheet with $1.75 million cash on closing</li>
<li>Provides equity ownership in Ionic Brands through the issuance of class E non-voting preferred shares which carry a two-year 13% annual, cumulative, preferential dividend on the issue price per share of $0.30, and which are convertible into common shares of Ionic Brands on a one-for-one basis, as well as additional equity upside through warrants to purchase up to 4,000,000 common shares (subject to Lobe’s covenant not to convert if conversion would result in Lobe becoming an insider of Ionic Brands based on post-conversion beneficial ownership)</li>
<li>Commitment from Ionic Brands to significantly improve its balance sheet through the conversion of outstanding Debentures</li>
<li>Lobe’s subsidiary vendor issued a US$50,000 promissory note from Ionic Brands bearing interest at 7% and maturing in two years, secured against the purchased assets</li>
<li>Allows Lobe to continue to be exposed to the cannabis sector and the broader mental health and wellness industry utilizing transformative medicine, while permitting Lobe to focus on its core business relating to R&D of psychedelic medicines</li>
<li>Provides Lobe with certain minority board representation rights with respect to the board of directors of Ionic Brands</li>
</ul><p>Further to the Company’s press release dated February 23, 2021, in connection with the closing of the Transaction, the Company amended the terms of the asset purchase agreement governing the Transaction. In particular, and following Ionic Brand’s news release on March 2, 2021 confirming that it had closed a $14.7 million oversubscribed private placement and had entered into debenture conversion and voting support agreement with holders of 80.2% of the outstanding principal amount of secured convertible debentures (the “<b>Ionic Debentures</b>“), Ionic Brands covenanted in favour of Lobe’s vendor subsidiary to convert, within 60 days following the date hereof, at least 90% of the principal amount of the outstanding Ionic Debentures, resulting in obligations outstanding (including principal and accrued interest, if any) of no more than $1,800,000 as at the date of conversion. Furthermore, Ionic Brands has agreed to certain minority board nomination rights in favour of Lobe.</p>
<p>For further details regarding the Transaction, please refer to the news release of the Company dated February 23, 2021 and the asset purchase agreement dated February 22, 2021 between the Company’s subsidiary vendor and Ionic Brands in respect of the Transaction, copies of which are filed under Lobe’s SEDAR profile at <a href="https://www.newsfilecorp.com/redirect/vvMWsexbg" rel="noopener noreferrer" target="_blank">www.sedar.com</a>.</p>
<p><b>About <a href="https://investingnews.com/company-profiles/lobe-sciences-cse-lobe/">Lobe Sciences Ltd.</a> </b></p>
<p><a href="https://investingnews.com/company-profiles/lobe-sciences-cse-lobe/">Lobe Sciences</a> is a life sciences company focused on psychedelic medicines. The Company, through collaborations with industry leading partners, is engaged in drug research and development using psychedelic compounds and the development of innovative devices and delivery mechanisms to improve mental health and wellness.</p>
<p><b>For further information please contact: </b><br/><b><a href="https://investingnews.com/company-profiles/lobe-sciences-cse-lobe/">Lobe Sciences Ltd.</a> </b><br/>Philip J. Young, CEO <br/><a href="mailto:info@lobesciences.com" rel="noopener noreferrer" target="_blank">info@lobesciences.com </a><br/>Tel: (949) 505-5623 </p>
<p><i>THE CSE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.</i></p>
<p><i><b>Disclaimer for Forward Looking Statements </b></i></p>
<p><i>This news release contains forward-looking statements relating to the future operations of the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact included in this release, including statements regarding the future plans and objectives of the Company, the Transaction and terms with Ionic and estimated value to Lobe, the benefits of the Transaction, including the benefits of non-dilutive capital and shareholder value to Lobe, the pursuit of other M&A initiatives, continued research and results of pre-clinical studies with the University of Miami, development of effective delivery methods and commercialization potential of the nasal mist device, research and development using NAC and psilocybin and growth of the business, are forward looking statements that are based on assumptions considered to be reasonable by management of the Company at the time such statements are made, and which involve known and unknown risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations are risks detailed from time to time in the filings made by the Company with securities regulations. Readers are cautioned that assumptions used in the preparation of the forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including changes to the regulatory environment; counterparty credit risk, risks relating to ownership of securities of Ionic Brands, and the risks relating to the business of Ionic Brands and that the current board of directors of Lobe and its management may not be able to attain the Company’s corporate goals and objectives. As a result, the Company cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made only as of the date of this news release and the Company does not intend to update any of the included forward-looking statements except as expressly required by applicable Canadian securities laws.</i></p>
<p id="corporateNewsLogoContainer"><img alt="Corporate Logo" class="lazy" data-src="https://orders.newsfilecorp.com/files/6461/76393_839c6eff049989e5_logo.jpg" data-srcset="" id="corporateNewsLogo" src="https://orders.newsfilecorp.com/files/6461/76393_839c6eff049989e5_logo.jpg" srcset=""/></p>
<p id="corporateLinkBack">To view the source version of this press release, please visit <a href="https://www.newsfilecorp.com/redirect/JrB0CEQBv" rel="noopener noreferrer" target="_blank">https://www.newsfilecorp.com/release/76393</a></p>
<p><img alt="" class="lazy" data-src="https://www.newsfilecorp.com/newsinfo/76393/310" data-srcset="" src="https://www.newsfilecorp.com/newsinfo/76393/310" srcset=""/></p>
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Seattle Area Grocery Chain Metropolitan Market to Begin Carrying KOIOS and Fit Soda on March 22, 2021
March 08 | 2021
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.
<p>Metropolitan Market was founded in 1971 as an independent grocer defined by its “curious” approach to merchandising, which made it the first to carry certain products in the Seattle area such as <em> Copper River </em> salmon. With a total of eight stores in Kirkland, Magnolia, Mercer Island, Queen Anne, Sand Point, Sammamish, Tacoma, and West Seattle, Metropolitan Market has a substantial presence in the Seattle metro area (population 3.87 million as of 2018 <sup> 2 </sup> ). Metropolitan Market’s parent firm <em> Good Food Holdings </em> holds four other west coast grocery banners with a combined total of 51 stores in California, Oregon, and Washington State to include <em> Lazy Acres </em> , <em> Bristol Farms </em> , <em> New Seasons Market </em> , and <em> New Leaf Community Market </em> <sup> 3 </sup> .</p>
<p>More information about Metropolitan Market can be found on its website: <u> <a href="https://metropolitan-market.com/" rel="nofollow noopener noreferrer" target="_blank"> https://metropolitan-market.com/ </a> </u></p>
<p>A photo accompanying this announcement is available at <a href="https://www.globenewswire.com/NewsRoom/AttachmentNg/3a60712e-531e-42aa-aedd-2f8e1d6bde5a" rel="nofollow noopener noreferrer" target="_blank"> https://www.globenewswire.com/NewsRoom/AttachmentNg/3a60712e-531e-42aa-aedd-2f8e1d6bde5a </a></p>
<p align="center"><strong> Readers using news aggregation services may be unable to view the media above. Please access the Company’s profile on SEDAR for a version of this press release containing all published media. </strong></p>
<p>On Monday, March 22, 2021, Metropolitan Market will start carrying all five flavours of the <em> KOIOS </em> ™ nootropic beverage ( <em> Black Raspberry </em> , <em> Blood Orange </em> , <em> Peach Mango </em> , <em> Apricot Vanilla </em> , and <em> Pear Guava </em> ) as well as all four flavours of the <em> Fit Soda </em> ™ functional beverage ( <em> Orange Cream </em> , <em> Root Beer Vanilla Float </em> , <em> Black Cherry Cola </em> , and <em> Sparkling Citrus </em> ). The Company believes that as it continues to build its footprint in regional grocers for the Pacific Northwest and Gulf Coast regions of the United States, these targeted efforts could complement other sales channels to include national retail chains such as Walmart as well as e-commerce platforms such as Walmart’s U.S. online store, Amazon.com, and Koios’ direct-to-consumer portal.</p>
<p>Koios Chief Executive Officer Chris Miller commented, “We have long maintained that local grocery chains are exceptionally savvy when it comes to building a loyal client base because they can gather and act upon qualitative insights far more efficiently than a large-scale chain. No matter how advanced a <em> ‘Big Data’ </em> analytics engine may be in anticipating or influencing shopping patterns, the very best insights about what customers actually want comes from the personal relationships you can build with your clientele as a regional operator. This is the backbone of our strategy to gain concentrated market penetration in strategic areas of the United States, as our objective is to cultivate long-term adoption of our beverages as a lifestyle staple and potentially leverage our presence in local chains to qualify for placements in additional national chains. We look forward to building out our presence in the Pacific Northwest as we continue our push to become a more prominent brand in the beverages industry.”</p>
<p><u> Sources </u></p>
<p>1 – <a href="https://www.sprouts.com/stores/" rel="nofollow noopener noreferrer" target="_blank"> <u> https://www.sprouts.com/stores/ </u> </a></p>
<p>2 – <a href="https://www.seattletimes.com/seattle-news/data/seattle-just-one-of-5-big-metros-last-year-that-had-more-people-move-here-than-leave-census-data-show/" rel="nofollow noopener noreferrer" target="_blank"> <u> https://www.seattletimes.com/seattle-news/data/seattle-just-one-of-5-big-metros-last-year-that-had-more-people-move-here-than-leave-census-data-show/ </u> </a></p>
<p>3 – <a href="http://goodfoodholdings.com/" rel="nofollow noopener noreferrer" target="_blank"> <u> http://goodfoodholdings.com/ </u> </a></p>
<p>On behalf of the Board of Directors of the Company,</p>
<p><strong> KOIOS BEVERAGE CORP. </strong></p>
<p>“Chris Miller”</p>
<p>Chris Miller, CEO, and Director</p>
<p>For further information, please contact:</p>
<p>Gina Burrus<br/>
844-255-6467<br/><a href="mailto:gina@koiosbeveragecorp.com" rel="nofollow noopener noreferrer" target="_blank"> <u> gina@koiosbeveragecorp.com </u> </a></p>
<p>THE CANADIAN SECURITIES EXCHANGE (CSE) HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.</p>
<p><strong> About Koios Beverage Corp. </strong></p>
<p>The Company is an emerging functional beverage company which has an available distribution network of more than 4,400 retail locations across the United States in which to sell its products. Koios has relationships with some of the largest and most reputable distributors in the United States, including Europa Sports, Muscle Foods USA, KeHE, and Wishing-U-Well. Koios uses a proprietary blend of nootropics and natural organic compounds to enhance human productivity without using harmful chemicals or stimulants. Koios products have been shown to enhance focus, concentration, mental capacity, memory retention, cognitive function, alertness, brain capacity and create all day mental clarity. Its ingredients are specifically designed to target brain function by increasing blood flow, oxygen levels and neural connections in the brain.</p>
<p>Koios produces one of the only drinks in the world infused with MCT oil. MCT oil is derived from coconuts and has been shown to help the body burn fat more effectively, create lasting energy from a natural food source, produce ketones in the brain, allowing for greater brain function and clarity, support healthy hormone production and improve immunity. For more information, please visit our website: <a href="https://www.koiosbeveragecorp.com" rel="nofollow noopener noreferrer" target="_blank"> <u> https://www.koiosbeveragecorp.com </u> </a> .</p>
<p><strong> Forward-Looking Statements </strong></p>
<p>This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Often, but not always, forward-looking information and information can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking information in this news release includes statements regarding: Potential outcomes from the scheduled placement of <em> KOIOS </em> ™ and <em> Fit Soda </em> ™ beverages in Metropolitan Market stores in Washington State, overall performance of the functional beverage market The forward-looking information reflects management’s current expectations based on information currently available and are subject to a number of risks and uncertainties that may cause outcomes to differ materially from those discussed in the forward-looking information. Although the Company believes that the assumptions and factors used in preparing the forward-looking information are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed time frames or at all. Factors that could cause actual results or events to differ materially from current expectations include: (i) adverse market conditions; (ii) changes to the growth and size of the functional beverage markets; and (iii) other factors beyond the control of the Company. The Company operates in a rapidly evolving environment. New risk factors emerge from time to time, and it is impossible for the Company’s management to predict all risk factors, nor can the Company assess the impact of all factors on Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ from those contained in any forward-looking information. The forward-looking information included in this news release are made as of the date of this news release and the Company expressly disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable law.</p>
<p>The statements in this news release have not been evaluated by Health Canada or the U.S. Food and Drug Administration. As each individual is different, the benefits, if any, of taking the Company’s products will vary from person to person. No claims or guarantees can be made as to the effects of the Company’s products on an individual’s health and well-being. The Company’s products are not intended to diagnose, treat, cure, or prevent any disease.</p>
<p>This news release may contain trademarked names of third-party entities (or their respective offerings with trademarked names) typically in reference to (i) relationships had by Koios with such third-party entities as referred to in this release and/or (ii) client/vendor/service provider parties whose relationship with Koios is/are referred to in this release. All rights to such trademarks are reserved by their respective owners or licensees.</p>
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Pineapple Express Delivery Partners with CannTrust to Offer Same-Day and Next-Day Delivery for estoraTM Medical Cannabis Patients in Ontario
March 08 | 2021
Ensuring estoraTMpatients have seamless access to their high-quality medical cannabis products
World-Class Extractions Inc. (CSE:PUMP)(FRA:WCF)(OTCQB:WCEXF) (the “Company” or “World-Class”) is pleased to announce that its subsidiary Pineapple Express Delivery Inc. (“Pineapple Express Delivery” or “PED”), a leading logistics technology company offering compliant and secure delivery of controlled substances and regulated products, has partnered with CannTrust Inc. to bring same-day and next-day delivery to estoraTM medical cannabis patients in Ontario
<p><img class="lazy" data-src="https://www.accesswire.com/users/newswire/images/633948/image-20210307182321-2.png" data-srcset="" height="64" src="https://www.accesswire.com/users/newswire/images/633948/image-20210307182321-2.png" srcset="" width="314"/></p>
<p>Pineapple Express Delivery Inc. is proud to announce the commencement of deliveries for <b>estora<sup>TM </sup></b>medical cannabis products under the name “Trust Delivery – Powered by Pineapple Express”. Products are available for purchase through the newly launched ecommerce site <a href="https://pr.report/JulwV6P8" rel="noopener noreferrer" target="_blank">www.estoramedical.com</a>. <b>estora<sup>TM</sup></b> patients can now take advantage of same-day deliveries in the Greater Toronto Area (GTA), and next-day deliveries across southern Ontario, including Ottawa, Kingston, Barrie, London, and Windsor.</p>
<p>Randy Rolph, Founder and CEO of Pineapple Express Delivery stated, “Pineapple Express Delivery was founded on the principles that medical cannabis patients should get their medicine as quickly, securely and discreetly as possible. By providing delivery driver tracking, delivery notifications and patient communication support, the entire Pineapple Team is thrilled to enable same-day and next-day deliveries for <b>estora<sup>TM</sup></b><b><sup></sup></b>medical patients across southern Ontario.”</p>
<p>Pineapple Express Delivery is one of Canada’s premier same-day, next day delivery companies for the medical and recreational markets servicing both B2B and B2C customers in the legal cannabis industry. Pineapple Express Delivery offers a personalized experience for its customers and has established in-depth security and delivery protocols to facilitate cannabis delivery across Canada.</p>
<p><b>About Pineapple Express Delivery Inc.</b></p>
<p>The Pineapple Express Delivery management team has over 10 years of experience offering same-day 60-minute delivery services in multiple industries across Canada with a record breaking 65,000 deliveries per month. Pineapple Express Delivery offers a personalized experience for its customers and has established in-depth security and delivery protocols to facilitate same-day delivery of medical and recreational cannabis across the country. Pineapple Express Delivery has been providing a same day delivery option to the legal Cannabis Industry from October 17th, 2018 and has provincial offices set up across Canada. Pineapple Express Delivery is a subsidiary of <a href="https://investingnews.com/company-profiles/world-class-extractions-cannabis-hemp-extract-technology-company/">World-Class Extractions Inc.</a> For more information, please visit <a href="https://pr.report/PT9VygBj" rel="noopener noreferrer" target="_blank">https://pineappleexpressdelivery.com/</a>.</p>
<p><b>About estora</b><b><sup>TM</sup></b></p>
<p><b>estora<sup>TM</sup></b> is a Canadian medical cannabis brand. Our portfolio has been designed with patients in mind, with easy-to-use formats and standardized processes, that ensure consistency and quality in every bottle. We’re not just a medical cannabis provider, but a partner, providing guidance and support for our patients on their journey with medical cannabis, so they can focus on what’s really important. For more information please visit <a href="https://pr.report/0aidX-EL" rel="noopener noreferrer" target="_blank">www.estoramedical.com</a>.</p>
<p><b>About <a href="https://investingnews.com/company-profiles/world-class-extractions-cannabis-hemp-extract-technology-company/">World-Class Extractions Inc.</a></b></p>
<p>World-Class is an innovation-driven company with a principle focus on the rapidly evolving cannabis and hemp industries. World-Class offers compliant and secure delivery of government regulated products through its subsidiary Pineapple Express Delivery Inc., including medical and recreational cannabis in Ontario, Manitoba and Saskatchewan, and liquor delivery in certain jurisdictions in Saskatchewan. World-Class continues to investigate opportunities to deploy and manage custom-built extraction centres utilizing its custom systems, technology, and processes to efficiently produce high-quality cannabis and hemp concentrates and end-products.</p>
<p><b>Contact:</b></p>
<p><a href="https://investingnews.com/company-profiles/world-class-extractions-cannabis-hemp-extract-technology-company/">World-Class Extractions Inc.</a><br/>1-437-266-1968 | <a href="mailto:ir@worldclassextractions.com" rel="noopener noreferrer" target="_blank">ir@worldclassextractions.com</a><br/><a href="https://investingnews.com/company-profiles/world-class-extractions-cannabis-hemp-extract-technology-company/" rel="noopener noreferrer" target="_blank">www.worldclassextractions.com</a></p>
<p>Neither the Canadian Securities Exchange nor its Regulation Service 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 of the Company.</p>
<p><b><i>Cautionary Note Regarding Forward-Looking Statements (<a href="https://investingnews.com/company-profiles/world-class-extractions-cannabis-hemp-extract-technology-company/">World-Class Extractions</a>)</i></b></p>
<p><i>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 the successful deployment of the Company’s cannabis and hemp processing centres and the ability of Pineapple Express Delivery to expand its delivery services. 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 <a href="https://pr.report/QIKRgucX" rel="noopener noreferrer" target="_blank">www.sedar.com</a>. 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.</i></p>
<p><strong>SOURCE: </strong><a href="https://investingnews.com/company-profiles/world-class-extractions-cannabis-hemp-extract-technology-company/">World-Class Extractions Inc.</a></p>
<p>View source version on accesswire.com: <br/><a href="https://www.accesswire.com/633948/Pineapple-Express-Delivery-Partners-with-CannTrust-to-Offer-Same-Day-and-Next-Day-Delivery-for-estoraTM-Medical-Cannabis-Patients-in-Ontario" rel="noopener noreferrer" target="_blank">https://www.accesswire.com/633948/Pineapple-Express-Delivery-Partners-with-CannTrust-to-Offer-Same-Day-and-Next-Day-Delivery-for-estoraTM-Medical-Cannabis-Patients-in-Ontario</a></p>
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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.
<p>Keep reading to find out more cannabis highlights from the past five days.</p>
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<h2 align="center" class="ofie">Find out what experts say about profiting from the cannabis market in 2021!</h2></a>
<h5 align="center" class="subheadline">Read our FREE 2021 cannabis outlook report!</h5>
<div align="center"><a class="button red radius" href="https://investingnews.com/free-report-online/investing-in-medical-cannabis-and-legal-cannabis-stocks/" id="Type: Outlook, Category: Cannabis Investing"> Give me my free report! </a></div>
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<h2>New data projects US$55.9 billion in global cannabis sales by 2026</h2>
<p><a href="https://www.globenewswire.com/news-release/2021/03/02/2185408/0/en/BDSA-Reports-Global-Cannabis-Sales-Exceeded-21-Billion-in-2020-Forecasts-55-9-Billion-by-2026.html" rel="noopener noreferrer" target="_blank">In a statement</a>, BDSA CEO Micah Tapman said the cannabis industry was challenged by the effects of the COVID-19 global pandemic. But in his research group’s view, the sector “not only survived, it thrived and legal cannabis gained considerable ground, exceeding our expectations in several markets.”</p>
<p>According to the firm, there was precise accelerated growth coming from key US markets like Colorado and Oregon, which both expanded by double figures.</p>
<p>Canada also grew exponentially thanks in large part to the launch of Cannabis 2.0 products late in 2019.</p>
<p>On a global scale, BDSA states that sales of cannabis reached US$21.3 billion in 2020. Thanks to this result, the researchers are now expecting to see a compound annual growth rate of over 17 percent, with sales reaching US$55.9 billion in 2026.</p>
<h2>Canopy sells sparkling CBD water in the US</h2>
<p>This past week, Canopy Growth (NASDAQ:<a href="https://investingnews.com/stock-information/?symbol=CGC:US" rel="noopener noreferrer" target="_blank">CGC</a>,TSX:WEED) began selling CBD-infused sparkling water beverages under the Quatreau brand in the US market, another move aimed at setting up a presence in the critical market.</p>
<p>David Klein, CEO of the Canadian producer, <a href="https://www.cnbc.com/2021/03/02/canopy-says-constellation-helping-bring-cbd-infused-drink-to-us-stores.html" rel="noopener noreferrer" target="_blank">told CNBC</a> the company relied heavily on its business partnership with alcohol-maker Constellation Brands (NYSE:<a href="https://investingnews.com/stock-information/?symbol=STZ:US" rel="noopener noreferrer" target="_blank">STZ</a>) to succeed with its beverage endeavor.</p>
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<h2 align="center" class="ofie">Find out what experts say about profiting from the cannabis market in 2021!</h2></a>
<h5 align="center" class="subheadline">Read our FREE 2021 cannabis outlook report!</h5>
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<p>At the end of the day, Constellation Brands will lend its hand to Canopy by way of managing distribution to retailers in the US marketplace.</p>
<p class="c-article-body__text">“When we look at opportunities on a global basis, Canadians and Americans have a lot of the same consumer insights but there’s no doubt that the United States is a larger population, and therefore a larger business opportunity,” Rade Kovacevic, Canopy’s president and chief product officer, <a href="https://www.theglobeandmail.com/business/article-canopy-launches-line-of-cannabis-infused-beverages-in-us/" rel="noopener noreferrer" target="_blank">told the Canadian Press</a>.</p>
<p>While these drink offerings are CBD based, Canopy did not tiptoe around its future intentions with cannabis products once policy permits it. “You’ll see us try to really tap into that more and more over time with our Quatreau CBD drinks, and ultimately our THC-branded drinks when we can get them into the US,” Klein said during an appearance on the popular Mad Money show.</p>
<h2>Cannabis company news</h2>
<ul class="ee-ul"><li><strong>Charlotte’s Web Holdings (TSX:<a href="https://investingnews.com/stock-information/?symbol=CWEB:CA" rel="noopener noreferrer" target="_blank">CWEB</a>,OTCQX:CWBHF)</strong> <a href="https://www.newswire.ca/news-releases/charlotte-s-web-positions-to-enter-us-cannabis-wellness-market-885850581.html" rel="noopener noreferrer" target="_blank">confirmed it’s pursuing</a> an option into the US wellness market by way of an agreement with <strong>Stanley Brothers USA Holdings</strong>, a cannabis wellness incubator company.</li>
</ul><ul class="ee-ul"><li><strong>Halo Collective (NEO:<a href="https://investingnews.com/stock-information/?symbol=HALO:AQN" rel="noopener noreferrer" target="_blank">HALO</a>,OTCQX:HCANF)</strong> <a href="https://www.newswire.ca/news-releases/halo-collective-announces-acquisition-of-management-companies-in-connection-with-previously-announced-dispensary-acquisitions-809702733.html" rel="noopener noreferrer" target="_blank">completed the acquisition</a> of the two operators connected to its recent dispensary asset purchase in California.</li>
</ul><ul class="ee-ul"><li><strong>The Valens Company (TSX:<a href="https://investingnews.com/stock-information/?symbol=VLNS:CA" rel="noopener noreferrer" target="_blank">VLNS</a>,OTCQX:VLNCF)</strong> <a href="https://www.newswire.ca/news-releases/the-valens-company-enters-into-extraction-and-custom-manufacturing-agreement-with-rubicon-organics-856757440.html" rel="noopener noreferrer" target="_blank">signed onto a partnership deal</a> with <strong>Rubicon Organics (TSXV:<a href="https://investingnews.com/stock-information/?symbol=romj:ca">ROMJ</a>,OTCQX:ROMJF)</strong> in which the firm will offer its proprietary extraction capabilities for the production of novel Cannabis 2.0 products to the producer.</li>
</ul><ul class="ee-ul"><li><strong>Cronos Group (NASDAQ:<a href="https://investingnews.com/stock-information/?symbol=CRON:US" rel="noopener noreferrer" target="_blank">CRON</a>,TSX:CRON)</strong> <a href="https://www.globenewswire.com/news-release/2021/02/26/2183414/0/en/Cronos-Group-Reports-2020-Fourth-Quarter-and-Full-Year-Results.html" rel="noopener noreferrer" target="_blank">issued its financial statement</a> for Q4 2020, along with its end-year results. The company reported US$17 million in revenue, but that figure didn’t stop the firm from posting a quarterly US$14.9 million loss.</li>
</ul><p><em>Don’t forget to follow us <a href="https://twitter.com/inn_cannabis">@INN_Cannabis</a> for real-time updates!</em></p>
<p><strong>Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.</strong></p>
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