Supreme Pharmaceuticals (TSXV:FIRE) announced its subsidiary 7 Acres received an update from Health Canada regarding a cultivation license in accordance with theAccess to Cannabis for Medical Purposes Regulations.
As quoted in the press release:
Update on Sales Approval
Management understands that Health Canada is in the process of testing dried cannabis samples provided by 7ACRES in relation to its application to add the activity of sales to the License. As noted in the Company’s press release dated May 8, 2017, random samples of cannabis plant leaves produced by 7ACRES were tested and show “no signs of contamination.” Supreme believes that an update regarding its application for the sales activity will be provided in the coming weeks. Furthermore, Health Canada has informed Supreme that the License will be amended in the near term in order to permit 7ACRES to sell cannabis seeds and clones to other licensed producers.
License Capacity and Term
Health Canada has removed the previous production and storage capacity of the License. Supreme is now permitted to store up to $150,000,000 worth of cannabis at any given time. In addition, the License term has been extended for an additional two years and the License is now valid until March 11, 2020.
John Fowler, President and CEO, stated: “We are pleased to be making progress with Health Canada. The forthcoming approval to sell cannabis genetics is one leg of our B2B sales model, allowing us to monetize our genetic inventory. As we await an update on the sales approval, we continue to cultivate and build our inventory in advance of sales-approval.”
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).