Radient Technologies (TSXV:RTI) released an update on the development of its facility expansion, its Access to Cannabis for Medical Purposes Regulations (ACMPR) license and its business in Europe.
As quoted in the press release:
Expansion of Manufacturing Capacity
Further to its previously announced expansion plans, the capacity expansion of Radient’s existing manufacturing facility is now nearing completion, with construction expected to be completed by the end of June 2018. The expansion provides a new processing line dedicated exclusively to intermediate and end-use products using extracted THC, and makes use of a number of new innovations in Radient’s proprietary extraction platform. Commissioning of the expanded facility is anticipated through the summer of 2018. As previously announced, Radient recently acquired two parcels of land adjacent to the facility, providing more than 80,000 sq. ft. of additional real estate for subsequent future capacity expansions and additions to Radient’s extraction and product development capabilities.
Cannabis Extraction Operations
Radient’s manufacturing facility (including the expansion) is located approximately 20 kilometers from the Aurora Sky facility owned by Aurora Cannabis Inc. (“Aurora”) (TSX: ACB) (OTCQB:ACBFF) (Frankfurt: 21P; WKN: A1C4WM), and approximately 575 Kilometres from the site in southern Alberta where the Aurora Sun facility is being built. Aurora holds an approximately 17% ownership interest in Radient, and in November 2017, the companies entered into a Master Services Agreement (“MSA”) for the extraction of cannabinoids. Aurora has recently announced its intention to acquire MedReleaf Corp., which upon completion will create a global cannabis company with 570,000 kg per annum in funded capacity in Canada and the EU. The MedReleaf acquisition, upon completion, is expected to be accretive to Radient, as the new combination will require significant additional extraction capacity as can be delivered by Radient through its high throughput technology.
Meanwhile, two longstanding cannabis partners ended their relationship.
Trulieve to donate $20,000 in scholarship funding and $15,000 to support leadership development
Trulieve Cannabis Corp . (CSE: TRUL) (OTC: TCNNF), a leading and top-performing cannabis company in the United States today announced a new partnership with the Thurgood Marshall College Fund (TMCF), the nation’s largest organization exclusively representing the Black College Community. Trulieve will donate $20,000 to help fund several college scholarships awarded to students who are attending one of the organization’s member-schools as part of Trulieve’s diversity, equity, and inclusion initiatives. The $15,000 in talent funding is earmarked to support TMCF’s internship program, reaching a diverse talent pool of students and alumni from their 47 member-schools to provide immersive experiences at Trulieve.
The new dispensary expands patient access to Florida’s largest inventory of medical cannabis products
Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) (“Trulieve” or “the Company”), a leading and top-performing cannabis company based in the United States announced today the opening of a brand-new Florida dispensary, the Company’s 80th nationwide. The new location marks the Company’s first in Tamarac and third in Broward County expanding patient access to Florida’s largest and broadest assortment of high-quality medical cannabis products.
Revive Therapeutics Provides Update on FDA Phase 3 Clinical Trial for Bucillamine in COVID-19 with Planned Completion and Emergency Use Authorization Request
Revive Therapeutics Ltd. (“Revive” or the “Company”) (CSE: RVV, USA: RVVTF), a specialty life sciences company focused on the research and development of therapeutics for medical needs and rare disorders, is pleased to announce an update on the Company’s U.S. Food & Drug Administration (“FDA”) Phase 3 clinical trial (the “Study”) to evaluate the safety and efficacy of Bucillamine in patients with mild to moderate COVID-19.
With its recent $23 million dollar financing, the Company plans to aggressively expand from 14 clinical sites to up to 50 clinical sites to meet the next enrollment goals for the Study in Q2-2020. The Study is a randomized, double-blinded, placebo-controlled trial and the safety and efficacy data analyzed at each interim analysis timepoint of 210, 400, 600 and 800 completed patients are only made available to the Independent Data and Safety Monitoring Board (“DSMB”) for review and recommendations on continuation, stopping or changes to the conduct of the Study. In the event of any serious safety concerns, the DSMB would be notified to determine any risks and provide its recommendations. To date, in this initial 210 interim point there have been no serious safety concerns that required the DSMB to be notified.
HempFusion Wellness Inc. (TSX:CBD.U) (OTCQX:CBDHF) (FWB:8OO) (“HempFusion” or the “Company”), a leading health and wellness CBD company utilizing the power of whole-food hemp nutrition, is pleased to announce that its common shares have been approved for DTC full-service eligibility in the United States by the Depository Trust Company (“DTC”) and can now be both traded and serviced through DTC’s electronic book-entry system.
DTC is a subsidiary of the Depository Trust & Clearing Corp. (“DTCC”) that provides clearing and settlement services for the financial markets and settles the majority of securities transactions in the United States. This electronic method of clearing securities speeds up the receipt of stock and cash and thus accelerates the settlement process for investors and brokers, enabling the stock to be traded over a much wider selection of brokerage firms.