Category: CULTIVATION & RETAIL

Heritage Cannabis Holdings Signs Blockchain Letter of Intent

SHARE THIS POST Vancouver, B.C., January 16, 2018 – HERITAGE CANNABIS HOLDINGS CORPORATION (CSE: CANN) (“Heritage” or Company”) is pleased to announce that it has signed a Letter of Intent (“LOI”) to acquire 20% of Stanley Park Digital Ltd (“SPD”), a blockchain developer based in Vancouver, BC for $500,000 in a combination of $250,000 cash and $250,000 shares, share price is based on the average of the closing price of the shares between January 10, 2018 and January 23, 2018. Key terms of the LOI include the development of a Cannabis Supply Chain Management System which will be designed to track and document all aspects of production from ‘seed to sale’. By utilizing a blockchain technology base to underpin an internal management process, it will provide an avenue to guarantee quality and consistency of product, as well as allow traceablility and transparency for regulation oversight. Additional terms include Heritage obtaining certain Rights of First Refusal on selected projects, and first priority on future funding rounds. Development on a proprietary cannabis supply chain management system is scheduled to begin late January. “Becoming a licenced grower and producer of cannabis remains our top priority, however this is only one area we’re targeting in this industry.” says Jag Bal, CEO of Heritage “Whether it’s other late stage applicants, expansion properties, or ancillary products related to Cannabis, we are working hard at doing...

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Friday Night Inc. Announces LOI to Acquire Harvest Foundation

SHARE THIS POST Vancouver, British Columbia (FSCwire) – Friday Night Inc. (Friday Night) (CSE: TGIF) (FWB: 1QF) (OTCQB: TGIFF) is pleased to announce that it has entered into a letter of intent to acquire 100% of Harvest Foundation LLC, a cannabis cultivation facility located adjacent to Friday Night’s Alternative Medicine Association (“AMA”). This transaction is subject to closing conditions customary to a transaction of this type, including due diligence and regulatory approval. Harvest Foundation is a Nevada cultivation licensee for medical and recreational cannabis.  Their facility is approximately 10,000 sq. ft. and is conveniently located adjacent to the current AMA facility in Las Vegas, Nevada.  AMA currently manages the Harvest Foundation cultivation facility under contract. The Company has agreed to a purchase price for $1 million USD plus 10 million common shares in Friday Night and 1/5 of a stock purchase warrant, with each whole warrant priced at 120% of the market price at closing.  The shares will be escrowed over 36 months. Brayden Sutton, President and CEO commented, “Integrating the Harvest Foundation license and facility into our business is a huge milestone and this new license effectively doubles our current cultivation capacity.” About Friday Night Inc. Friday Night Inc. is a Canadian public company, which owns and controls cannabis and hemp based assets in Las Vegas Nevada.  The company owns 91% of Alternative Medicine Association, LC (AMA), a...

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Canopy Growth Enters Multifaceted MOU With Prince Edward Island

SHARE THIS POST Major supply and education partnership to help ensure Province Ready for Regulated Recreational Cannabis January 16, 2018 SMITHS FALLS, ON & CHARLOTTETOWN, PEI – Canopy Growth Corporation (TSX: WEED) (“Canopy Growth” or the “Company”) and the Province of Prince Edward Island (“PEI”) today announced that the Company has entered a supply Memorandum of Understanding (“MOU”) to guarantee a regulated supply of high-quality cannabis into PEI’s retail and online stores. Under the terms of the MOU Canopy Growth will allocate a minimum supply of 1,000 kg of high-quality cannabis for the first year of the agreement to ensure that the Province has access to a wide variety of cannabis products. The two-year supply agreement will renew for a third-year upon mutual agreement of the Company and Province. Complementing the supply arrangement and in collaboration with a number of its key partners, Canopy Growth has also designed educational resources to assist the Province in developing best-in-class education for its staff and stores.   Canopy will provide dedicated training modules on general cannabis information and responsible use so that PEI customers can enjoy informed, positive and safe experiences when cannabis becomes legal for recreational purposes. These modules have been developed by applying the expertise and collective experiences of Canopy’s 100+ person Care Team, its “bricks and mortar” customer support centres, and the team of early compassion club founders now working...

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Aurora Cannabis Completes Cornerstone Investment in The Green Organic Dutchman

SHARE THIS POST EDMONTON and ANCASTER, ON, Jan. 16, 2018 /CNW/ – Aurora Cannabis Inc. (“Aurora”) (TSX: ACB) (OTCQB: ACBFF) (Frankfurt: 21P; WKN: A1C4WM) and The Green Organic Dutchman Holdings Ltd. (“TGOD”) (privately held) today announced that the companies have completed Aurora’s strategic investment in TGOD, as previously announced on January 5, 2018. Pursuant to the terms of the agreement, Aurora has subscribed for subscription receipts through a private placement (the “Placement”), which shall automatically convert into units upon TGOD’s common shares being listed on a stock exchange in Canada (the “Listing Date”). Upon conversion, the units will provide Aurora with a 17.62% interest in TGOD on a non-diluted basis. As previously announced, the Placement consists of 33,333,334 units, priced at $1.65 per unit, for gross proceeds of $55 million. Each unit consists of one common share and one half of one common share purchase warrant, exercisable at $3.00 per common share for a period of 36 months following closing of the offering. TGOD intends to complete an initial public offering in March of 2018, is currently completing the expansion of its Ancaster, Ontario facility and, together with Aurora Larssen Projects Ltd. (“ALPS”) has commenced the project to construct an 820,000 square foot high technology hybrid greenhouse facility in Valleyfield, Quebec, with a projected production capacity in excess of 100,000 kg of organic cannabis per annum. Additionally, the parties...

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Invictus MD Receives $9.5 million from Warrant and Option Exercises and Increases Target Capacity in 2019 to 76,000 kg

SHARE THIS POST Vancouver, BC, January 15, 2018 – INVICTUS MD STRATEGIES CORP. (“Invictus MD” or the “Company”) (TSXV: IMH; OTC: IVITF; FRA: 8IS1) is pleased to announce that since the release of its financial results for the third quarter ended October 31, 2017, which were filed on SEDAR on December 22, 2017, the Company has received $9,484,547 from the exercise of previously issued warrants and options. A total of 5,660,072 warrants and 21,000 options were exercised for proceeds of $9,476,167 and $8,380, respectively. As a result of such exercises, the Company currently has a total of 85,860,378 common shares issued and outstanding. Invictus MD’s current cash balance is approximately $32 million. The target production capacity for 2019 is approximately 76,000 kg based on expanding facilities in 2019 to approximately 520,000 square feet. Invictus MD still has approximately 18.7 million warrants outstanding that would bring cash into the Company of approximately $33 million. On January 8, 2018 the Company reported AB Labs received its authorization by Health Canada to sell dried marijuana under the ACMPR (“Sales License”).  AB Labs which has 130 kg of dried marijuana in its vault intends to sell 100% of this inventory in January 2018 to Canopy Growth Corporation (TSX:WEED), initiating its first revenue stream since inception. Invictus MD’s total annual kilogram capacity after various phases of expansion in 2018 and 2019, complete and in...

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Friday Night Inc. Provides an Update on BAM LOI and Proposed Spin Out of Infused MFG.

SHARE THIS POST VANCOUVER, BC (FSCwire) – Friday Night Inc. (Friday Night) (CSE: TGIF) (FWB: 1QF) (OTCQB: TGIFF) is pleased to announce an update to the terms of the Body and Mind letter of intent, and announce a proposed spin out plan for Infused MFG. Body and Mind LOI As a result of the negotiations between the parties in respect to the letter of intent (“LOI”) signed with Body and Mind Inc. (“BAM”), the implied value of the BAM shares has been adjusted to an implied value of $1.65 per share or a ratio of 1.65:1 for each BAM share held.  Holders of convertible BAM securities will see their options and warrants converted to Friday Night securities with similar terms after taking into account the exchange ratio.  The board and management of BAM remains supportive of the transaction notwithstanding the exchange adjustment. The parties anticipate entering into a definitive agreement imminently.  The transaction remains subject to BAM shareholder approval and any required regulatory or exchange approvals. Infused MFG. Friday Night is also pleased to announce it has reached an agreement in principle with the holder of the 9% interest of its operating subsidiaries in Nevada, AMA and Infused, to acquire the same.  The proposed transaction contemplates the exchange of the minority interest in AMA for an interest in Infused MFG., followed by the spin-out of Infused MFG. as a...

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