Zenabis Global (TSX:ZENA) announced today that it has entered into an agreement with Starseed Medicinal who will advance C$10 million to Zenabis in September this year in return for Zenabis supplying dried cannabis flower and trim.

As quoted in the press release:

Under the terms of the Supply Agreement, Zenabis will deliver a maximum monthly quantity of dried cannabis flower or trim to Starseed, at Starseed’s option, commencing in October 2019. Zenabis expects the Prepaid Amount to be retired within 18 to 24 months. Zenabis does not expect delivery commitments to Starseed, together with the other prepaid supply agreement Zenabis announced on July 2, 2019, to impact its ability to supply existing customers. The pricing under the Supply Agreement will vary depending on the product type and format Starseed elects to order.

Andrew Grieve, Chief Executive Officer of Zenabis, said, “We are excited to supply Starseed and its unique sales channels with our high-quality dried cannabis and trim products.  Zenabis has successfully obtained $40 million in non-dilutive financing through pre-paid supply agreements, which we estimate to be sufficient to achieve our planned 131,200 kg of cannabis cultivation capacity expected to occur this quarter and, as a result, we no longer intend to draw on the existing $60 million unsecured convertible debenture facility to fund such expansion or working capital. We look forward to delivering on our commitments to Starseed and to fulfilling the needs of all or counterparties and the communities in which we operate.”

Click here to read the full press release.

Mergers and acquisitions (M&A) in cannabis space have helped boost the industry to new levels.

Keep reading... Show less

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”).

Keep reading... Show less

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.

Keep reading... Show less

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

Keep reading... Show less

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.

Keep reading... Show less