Category: Consulting

BCC Provides Update on Health Canada Licensed Producer Application and Owen Sound Facility Build Out

by Todd | Oct 26, 2017 | Capital Markets, Consulting | 0 comments TORONTO, Oct. 26, 2017 (GLOBE NEWSWIRE) — The Canadian Bioceutical Corporation (the “Company” or “BCC”) (CSE:BCC) (OTC:CBICF) today announced it has completed preparatory construction work and commenced detailed planning for the full build-out of its cannabis cultivation facility in Owen Sound, as well as provided an update on its application with Health Canada to obtain Licensed Producer status under the Access to Cannabis for Medical Purposes Regulation (“ACMPR”). On January 7, 2015 the Company announced that its subsidiary, BioCannabis Products Ltd., had filed a Marijuana for Medical Purposes Regulations application with Health Canada, and subsequently updated its application under the ACMPR.  On August 23, 2017 the Company was advised that its application was at the Detailed Review and Initiation of Security Clearance Process stage. Consequently, BCC has decided to commence further planning for the build out of its facility. Preparatory work on power and certain other utility systems has been completed, and the Company has now commenced more detailed design work for completion of the facility.  The Company anticipates being ready to commence cultivation in the latter half of 2018 for final inspection by Health Canada.  No assurances can be given at this point on the timeframe for inspection and potential subsequent granting of Licensed Producer status. “Commencing the full build-out of our Owen Sound facility is...

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General Cannabis Announces Closing of Private Financing and Preliminary Third Quarter Revenue

DENVER, Oct. 10, 2017 (GLOBE NEWSWIRE) — General Cannabis Corp. (OTCQB:CANN), the comprehensive national resource to the regulated cannabis industry, today announced the closing of a private placement financing resulting in $725,000 of cash and cancellation of $25,000 of debt. The financing consisted of units sold at a price of $1.00 per unit, with each unit consisting of one share of common stock and one warrant to purchase one share of common stock at an exercise price of $0.50 per share exercisable immediately through October 9, 2019.  At closing, the Company issued an aggregate of 750,000 shares of common stock and warrants to purchase up to 750,000 shares of common stock. General Cannabis also reported today its preliminary unaudited 2017 third quarter revenue of approximately $980,000, an increase of approximately 17% compared to the same period in 2016, driven by growth in our operations consulting and products segment. Estimated 2017 third quarter revenue increased by 15% compared to the second quarter of 2017, due primarily to organic growth in our security segment, as well as the acquisition of Mile High Protection Services. We also expect to have our highest level of quarterly revenue since inception. “We continue to focus on the profitability of our operating segments as we expand on a national scale,” said Robert Frichtel, Chief Executive Officer of General Cannabis. “The capital raise gives us the necessary...

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