Category: CULTIVATION & RETAIL

Newstrike Completes Previously Announced $80 Million Bought Deal Financing

TORONTO, Feb. 16, 2018 (GLOBE NEWSWIRE) — Newstrike Resources Ltd. (TSXV:HIP) (“Newstrike” or the “Company”) is pleased to announce that it has closed its previously announced short form prospectus offering on a bought deal basis. A total of 60,610,000 units of the Company (“Units”) were sold at a price of $1.32 per Unit (the “Issue Price”), for aggregate gross proceeds of $80,005,200 (the “Offering”). The Offering was underwritten by a syndicate of underwriters co-led by INFOR Financial Inc. and Cormark Securities Inc. and including Eight Capital and Haywood Securities Inc. (collectively, the “Underwriters”). “This transformational Offering provides Newstrike and our wholly-owned licensed producer, Up Cannabis, with the capital required to complete our Niagara Facility, accelerate and enhance the national launch of the Up-Cannabis brand and seize select strategic opportunities that complement our growth strategy,” said Jay Wilgar, Newstrike’s CEO. In addition, as previously announced, the Company has granted the Underwriters an over-allotment option to purchase up to an additional 15% of the Units at the Issue Price, exercisable in whole or in part, at any time on or prior to the date that is 30 days following the closing of the Offering. If this option is exercised in full, an additional $12,000,780 will be raised pursuant to the Offering and the aggregate proceeds of the Offering will be $92,005,980. Each Unit is comprised of one common share of the...

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Liberty Health Sciences Closes Acquisition of New Campus in Gainsville, Florida, Introduces Liberty 360° Innovation Campus

by Todd | Feb 16, 2018 | CULTIVATION & RETAIL, General | • Liberty also receives approval from Department of Health to expand existing facilities and secures new dispensary location in South Tampa for a total of 6 confirmed Florida locations to-date TORONTO, ON; February 16, 2018 – Liberty Health Sciences Inc. (CSE: LHS and OTCQX: LHSIF) (“Liberty” or the “Company”) announced today that it has closed the acquisition of a 387-acre parcel of land in Gainesville, Florida, previously owned by Alico Citrus Nursery, LLC. The property will become the home of the new Liberty 360° Innovation Campus (“Liberty 360”), with state-of-the-art greenhouses and processing facilities that firmly establishes Liberty as one of the leading medical cannabis providers in Florida. “We’re thrilled to establish the Liberty 360 campus as our innovation hub for the cultivation, production and processing of high-quality, pharmaceutical-grade medical cannabis for the rapidly expanding patient demand in Florida,” said George Scorsis, Director and CEO of Liberty. “Liberty 360 will enable us to expand our production capabilities and provide a broader range of products and delivery methods to Florida’s patients in need. It will also serve as our center for new product innovation and development as we remain on the leading edge of the medical cannabis industry.” Liberty 360’s existing facilities, which includes over 200,000 square feet of state-of-the-art greenhouses and processing facilities will undergo a retrofit...

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Hiku Brands Awarded Prized Retail Cannabis License In Manitoba

by Todd | Feb 16, 2018 | CULTIVATION & RETAIL, General | • One of only four proposals selected to operate cannabis retail stores in Manitoba as part of world’s first RFP process for federally legal cannabis retail. TORONTO, Feb. 16, 2018 /CNW/ – Hiku Brands Company Ltd. (“Hiku” or the “Company”) (CSE: HIKU), is pleased to announce that its wholly-owned subsidiary, Tokyo Smoke, with participation by BOBHQ, has been conditionally awarded one of four master retail licenses (the “License”) in Manitoba’s highly competitive Request for Proposal (“RFP”) process for the right to operate retail cannabis stores. The License gives Tokyo Smoke the ability to operate legal retail cannabis stores and an online cannabis sales platform in Manitoba. This represents a significant milestone for Hiku and BOBHQ as one of only four successful entities selected in a highly competitive process. Hiku is excited to bring its award winning retail experience to Manitoba and Manitoba cannabis consumers. The Company commends the leadership shown by the Province of Manitoba in setting up a competitive, privatized cannabis retail system to ensure the responsible management of cannabis distribution and sales within the province ahead of the anticipated adult-use legalization date of Summer 2018. “We are honoured to be selected as one of four companies to operate retail cannabis stores in Manitoba”, said Alan Gertner, CEO of Hiku. “This achievement is a validation of...

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Delta 9 and Canopy Growth awarded retail license in Manitoba

by Todd | Feb 16, 2018 | CULTIVATION & RETAIL, General | WINNIPEG, Feb. 16, 2018 /CNW/ – The Manitoba government today announced that an opportunity to legally retail recreational cannabis in the province has conditionally been awarded to a consortium consisting of Delta 9 Cannabis Inc. (TSXV: NINE) (“Delta 9” or the “Company”) and Canopy Growth Corporation (WEED: TSX), (“Canopy Growth”). The issuance of the license is contingent on the signing of a formal agreement with the provincial government, which include meeting a series of conditions attached to the retail licensing process. The license would authorize the Delta 9/Canopy Growth partners to build and operate a chain of retail stores throughout the Province of Manitoba. The first location for Delta 9 has already been constructed in the Osborne Village area of Winnipeg, and has been operating for several months as a resource centre and clinic. That location will become the first of many more stores, says Company CEO John Arbuthnot. “It is hard to overstate how important this award is for our company, our shareholders, and for the future of the legal cannabis industry in Manitoba,” Arbuthnot said. “As the only Manitoba producer licensed to sell cannabis, and partnered with the world’s largest cannabis company, we feel we are uniquely situated to serve the Manitoba market with both quantity and quality of product.” Delta 9 management estimates the...

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Canopy Growth successful in bid to operate private retail stores in Manitoba

by Todd | Feb 16, 2018 | CULTIVATION & RETAIL, General | SMITHS FALLS, ON, Feb. 16, 2018 /CNW/ – Canopy Growth Corporation (TSX: WEED) (“Canopy Growth” or the “Company”) is pleased to announce that it has been conditionally selected by the Government of Manitoba to operate cannabis retail stores in the province after a rigorous and highly competitive RFP process. Canopy Growth, along with its partner Delta 9, is one of four successful candidates chosen to operate a number of retail locations throughout the province. Further details on locations and store quantities will follow as the RFP process is finalized. Once official, this will mark Canopy Growth’s second provincial retail agreement after previously announcing plans to apply to operate four retail stores in the Province of Newfoundland & Labrador. To date, four provinces in Canada have put forward their retail and supply frameworks including New Brunswick, Newfoundland & Labrador, and Prince Edward Island; and all of them have chosen Canopy Growth as a trusted partner and supplier. Just this week, Canopy Growth also entered into a Letter of Intent (LOI) with the province of Quebec to supply up to 12,000 kg of cannabis in that province annually. “I would like to commend the Government of Manitoba on choosing a competitive retail model that offers access to a variety of new and existing cannabis brands to Manitobans,” said Mark...

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THC Announces Letter of Intent to Purchase Farm and Greenhouses in the Niagara area in the Province of Ontario

by Todd | Feb 15, 2018 | CULTIVATION & RETAIL, General | Vancouver, British Columbia – (February 15, 2018) Canada’s largest supplier of legal Cannabis Genetics, THC BioMed Intl Ltd. (CSE: THC), (“THC” or the “Company”), announces that it has entered into a Letter of Intent to purchase a Farm and Greenhouses on approximately eight and a half acres in the Niagara region, Ontario. THC previously announced its intention to pursue this opportunity on December 20, 2017. THC intends to add this new property in Ontario to its licensed facilities in B.C. for the licensed production of cannabis. The new property has approximately seven acres of growing space, including seventy thousand square feet in the greenhouses. Irrigation equipment and all equipment and supplies necessary for the operation of the greenhouses are included in the purchase. THC is also pleased to announce that one of the Vendors of the property has agreed to stay on as a consultant, bringing his 32 years expertise as a farmer in this region to bear for THC’s crops. There is a farmhouse on the property, which the Vendors intend to rent from THC at market rates. The parties intend to enter into a formal asset purchase agreement. The completion of the acquisition is subject to standard real estate purchase conditions and the approval of the CSE. “THC is excited to be expanding into Ontario,”...

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