CGX Life Sciences Inc., a wholly owned subsidiary of The Canadian Bioceutical Corp. (TSXV:BCC), announced that it’s entered into a letter of intent (LOI) under which a US-based lender will provide up to $7.25 million in real estate acquisition and development financing for its Nevada-based medical marijuana project.
As quoted in the press release:
BCC announced on August 10, 2015 that it had signed a letter of intent to acquire the shares of a Medical Marijuana Establishment (“MME”), based in Henderson, which has been granted a provisional cultivation license and a provisional production license by the state’s Division of Public and Behavioural Health. This proposed acquisition is conditional upon, inter alia, BCC arranging for applicable financing which would be satisfied with the consummation of the proposed financing announced herein.
Scott Boyes, The Canadian Bioceutical CEO, commented:
We believe our company’s planned expansion into the Las Vegas and Nevada markets presents an opportunity for significant revenue growth and attractive returns for our company and its shareholders. We have identified several sites within the City of Henderson and will be making a final purchase selection this week so we can quickly proceed with a purchase, build-out and the commencement of production. Henderson is a vibrant and fast growing municipality and we look forward to working with the city to bring both new investment and employment to the community.
As noted in our August 10th announcement, Nevada has been particularly progressive in the development of its medical marijuana (“MMJ”) regulations and there is a very optimistic outlook for growth of the industry in the state. Of particular note is the reciprocity offered to out-of-state medical marijuana card holders. With over 40 million people visiting Las Vegas every year, Nevada’s policy of recognizing the status of patients from other jurisdictions significantly enhances the potential size of the MMJ market in the state.
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).