Category: Capital Markets

Week in Review – Week Ended January 12, 2018

SHARE THIS POST On January 4, 2018, Attorney General Jeff Session announced that the Trump Administration is rescinding the Cole Memo, which creates significant uncertainty about the regulatory environment at the state level. Early Responses Bridget Hill-Zayat, Esq., of Cannabis Law Firm, Hoban Law Group, said that “The status of the law remains unchanged. Cannabis was always federally illegal, and there was always a conflict of state and federal law. Replacing the Cole Memo is wildly unpopular with both Democrats and Republicans. This move by Sessions creates a hurdle for sure, but as long as there are veterans and patients, it will remain political suicide for federally elected leaders to support further prohibition. To that end, Governor Wolf of Pennsylvania today announced he plans to protect patients. Indeed, Colorado Senator Cory Gardner said he would hold up Trump’s DOJ nominations over this policy shift. The state will fight back and so will voters in the next election.” Justin Hobson, Co-Chair Cannabis Group, Lane Powell (Seattle & Portland), said that “This development, while anticipated for some time, could have a significant effect on cannabis markets, and especially on the financing of cannabis businesses. The action also provides the possibility for U.S. Attorneys to take aggressive actions against industry participants. It is too early to say what might happen with this rescission, but needless to say people in the industry should...

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Liberty Leaf’s upgrades to the Just Kush facility nearly complete

As a result, Just Kush will meet all Health Canada requirements for an ACMPR licence – and be fully equipped and ready for its Attestation of Readiness review Vancouver, BC – January 4, 2018: Liberty Leaf Holdings Ltd. (CSE: LIB, OTCQB: LIBFF and FSE: HN3P) (the “Company” or “Liberty Leaf”) announced today it is progressing ahead of schedule with upgrades to Just Kush – meaning that the facility will be able to meet all Health Canada requirements for an Access to Cannabis for Medical Purposes Regulations (ACMPR) licence. Liberty Leaf is also fully equipping Just Kush for its Attestation of Readiness review. “We started the upgrades immediately following a visit to the facility by Liberty Leaf’s team of due-diligence consultants,” says Liberty Leaf CEO William Rascan. “The team’s assessment established a few areas of improvement and provided the detailed implementation steps required for our first phase of build-out,” Rascan explains. In order to ensure that the work-in-progress upgrades conform precisely to the submitted ACMPR application from all operation aspects, Liberty Leaf has contracted the services of Cannabis Compliance Incorporated (CCI). CCI will conduct a site walk-through on January 10 to thoroughly check all work-in- progress. Upon satisfactory completion Liberty Leaf will make a video of the completed upgrades and forward it to Health Canada. This video, along with other data and expert reports, comprises the Attestation of Readiness that...

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Puration Announces Patented Cannabis Extraction Spinoff and Dividend Plan to Optimize Shareholder Value

DALLAS, January 4, 2018 /PRNewswire/ — Puration, Inc. (PURA) today announced a spinoff and dividend strategy to optimize shareholder value. Puration is the sole licensee to U.S. Patent No. 9,199,960, entitled “METHOD AND APPARATUS FOR PROCESSING HERBACEOUS PLANT MATERIALS INCLUDING THE CANNABIS PLANT.” The license permits Puration to produce cannabis extracts for infusion into recreational, fitness wellness, alternative medicine and beauty products. Management found the ideal first application of the extraction technology in the introduction of its own cannabis infused beverage. Last year, the company launched EVERx CBD Infused Sports Water which has since become a leading brand name in the CBD infused marketplace and one of the only CBD infused products in the sports nutrition marketplace. Puration recently announced plans to launch new cannabis infused beverage lines into Canada’s legal $8 billion market in addition to announcing plans to open a cannabis extraction facility into California’s legal $10 billion market. Puration’s extraction capacity is being structured into a new subsidiary in a first step to unlock shareholder value by delineating between the company’s patented extraction business and cannabis infused beverage business. The next step will be to spinoff the cannabis extraction subsidiary in conjunction with a Regulation Crowdfunding transaction to capitalize the new independently listed company. The spinoff plan includes a dividend distribution of stock in the new independently listed company to shareholders of Puration. Management expects the...

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Medical Marijuana, Inc. Announces Promotion of Subsidiary HempMeds® Mexico President Raul Elizalde to HempMeds® President, Latin America

SAN DIEGO, Jan. 4, 2018 — Medical Marijuana, Inc. (OTC:MJNA), the first publicly traded cannabis company in the United States, today announced that Raul Elizalde, President of subsidiary HempMeds® Mexico, has been promoted to President, Latin America for the company. Elizalde, who joined Medical Marijuana, Inc. and HempMeds® Mexico in June 2017, was an active medical cannabis advocate prior to joining the Company because of his fight to gain access to CBD hemp oil for his daughter Grace, who suffers from epilepsy. Elizalde’s fight led to the legalization of medical cannabis in Mexico. “We are proud of Raul’s many accomplishments over the past six months and we felt that it was time to give him more responsibility as our global operations continue to rapidly expand,” said Medical Marijuana, Inc. CEO Dr. Stuart Titus. “Since joining our organization, Raul has not only helped us grow our thriving Mexico market, but has also been a global voice for the Company to spread awareness regarding why CBD should be considered a supplement that can provide therapeutic benefits to people around the world.” “I’m honored to be a part of the leading cannabis company and look forward to aggressive expansion of our company throughout Latin America,” said HempMeds® President, Latin America, Raul Elizalde. In Nov. 2017, Elizalde was invited to speak to the World Health Organization at the Expert Committee on Drug Dependence Conference in...

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MYM Announces $10 Million Non-Brokered Financing

UNCODE.initHeader(); Vancouver, B.C., January 3, 2018 – MYM Nutraceuticals Inc., (CSE: MYM) (the “Company” or “MYM”) is pleased to announce a non-brokered private placement of up to 3,571,000 units at a price of CAD$2.80 per unit. Each unit will consist of one common share and one transferable common share purchase warrant.  Each warrant will entitle the holder to acquire one additional common share for a period of 24 months following the closing of the private placement at a price of CAD$4.00 per warrant share. In the event that, after the date that is six months and one day following the closing of the offering, the closing volume-weighted average price of the common shares on the Canadian Securities Exchange, or such other exchange on which the common shares may primarily trade, is greater than or equal to CAD$5.50 for a period of ten consecutive trading days, the Company may, at its sole option, accelerate the expiry date of the warrants by giving notice to the holders thereof, and in such case, the warrants will expire on the 30th day after the date on which such notice is given by the Company. The offering was priced in the context of the market based on a price reservation made by the Company with the Canadian Securities Exchange.  The private placement is subject to the approval of the CSE and the securities will...

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