The opioid crisis continues to be one of the most serious public health issues in Canada’s recent history. Tragically, between January 2016 and September 2018 more than 10,300 Canadians died from an apparent opioid-related overdose.
Today the Honourable Ginette Petitpas Taylor, Minister of Health, announced funding for new initiatives to increase knowledge about opioid use and treatment, decrease harms associated with opioid use, and enhance access to evidence-based treatment. Minister Petitpas Taylor made the announcement while meeting with representatives of the St. Paul’s Foundation of Vancouver.
New investments totaling $15.3 million announced today include:
- $9.6 million for seven projects that will focus on education and sharing information on effective treatments for opioid use disorder;
- $1.3 million to support four initiatives that will reduce the risk of HIV and hepatitis C among people who share drug use equipment, while also linking people to treatment and support services; and
- $4.4 million to support four research projects to develop innovative, effective treatment options tailored to B.C. communities and Indigenous people.
The funding announced today builds on recent investments to increase access to treatment services for Canadians who are seeking help for problematic substance use. In September 2018, the governments of Canada and British Columbiasigned a bilateral agreement under the Government of Canada’s Emergency Treatment Fund committing more than $71.7 million for innovative and comprehensive treatment options in the province.
“This crisis continues to be one of the most serious public health issues in Canada’s recent history, and organizations on the ground can help us turn the tide of it. That’s why we are investing further in them. We know there is no silver bullet solution to this crisis, and the services and education these organizations offer are crucial. We must continue to work all together to save lives.”
The Honourable Ginette Petitpas Taylor
Minister of Health
“St. Paul’s Hospital happens to sit at the epicentre of the opioid crisis in Vancouver, which has given us both a unique perspective and a profound responsibility. We know that research, outreach, and education will significantly reduce harm, yield financial savings and, most importantly, improve and save the lives of individuals, families, and communities affected by substance use across Canada.”
President and CEO, St. Paul’s Foundation
- Budget 2018 committed more than $230 million over five years to address the opioid crisis. This funding included $150 million for a cost-shared Emergency Treatment Fund.
- Through Budget 2019, the Government of Canada is committing an additional $30.5 million over five years, starting in 2019-20, with $1 million in ongoing funding, for targeted measures to address persistent gaps in harm reduction and treatment.
- Since June 2017, data reported to Health Canada indicate that there have been more than 327,000 visits to supervised consumption sites and overdose prevention sites across Canada, without a single death in the facilities and almost 3,600 reported overdoses reversed.
- Through the Canadian Institutes of Health Research (CIHR), the Government of Canada is investing in researchers who are helping to provide evidence on which interventions work best to prevent opioid overdoses, how to treat opioid use disorder and how to promote harm reduction.
- Health Canada’s Substance Use and Addictions Program (SUAP) provides approximately $50 million annually to support initiatives that help prevent, treat and reduce all forms of harm from problematic substance use, including opioids, cannabis, alcohol and tobacco.
- The Public Health Agency of Canada’s Harm Reduction Fund is investing $7 million annually to support projects across Canada that will help reduce rates of HIV and hepatitis C among people who use drugs.
- The Government of Canada is running a national public awareness campaign on opioids. The campaign aims to raise awareness of the risks associated with opioids, the stigma that prevents people who use drugs from receiving help, and what to do if you witness an opioid overdose.
SOURCE Health Canada
Introducing Ignite Distribution, LLC
Ignite International, Ltd. (the “Company”), a global super-premium CBD and cannabis consumer packaged goods company, is pleased to announce today that it has signed a definitive agreement with MMS Distribution, LLC (“MMS”) for the distribution of CBD products in the United States. MMS is a leading distributor of vape and e-cig products to nationwide wholesale, c-store, smoke shop, and retail operators.
Under a joint venture agreement, the Company and MMS will form a new company called Ignite Distribution, LLC with corporate operations based in Delaware. The newly formed joint venture will be able to access the brand recognition associated with the Ignite trademark, the iconic goat skull logo and founder Dan Bilzerian’s 43 million strong social media follower base in addition to the extensive expertise of MMS’s supply chain partners and existing customers. The joint venture will also serve as the Company’s fulfilment partner on its existing e-commerce platform.
Ignite Distribution, LLC intends to utilize the above noted valued assets to introduce a host of Ignite branded products to the US CBD market.
“It is with great excitement that we welcome MMS Distribution, LLC to our family of companies with the formation of this joint venture,” said Jim McCormick, CEO of Ignite International, Ltd. “With Ignite’s high level of brand awareness, MMS Distribution, LLC’s experience, and the explosive growth of CBD products in the US marketplace, we are extremely bullish on our business outlook.”
Added Zach Bader, Managing Partner at MMS Distribution, LLC: “We see an opportunity in the US CBD market today for a dominant brand like Ignite to emerge that rises above the rest to make its way to consumers at a national level through our strong national distribution and network of retailers.”
SOURCE Ignite International, Ltd.
Pivot Pharma Announces Closing of C$11.533 million First Tranche of C$15 million Private Placement
Pivot Pharmaceuticals Inc. (CSE: PVOT / OTCQB: PVOTF / FRA: NPAT) (“Pivot” or the “Company”) is pleased to announce that it has closed the first tranche of its non-brokered private placement (the “Offering”), previously announced on April 9, 2019, by issuing 46,132,000 units (“Units”) at a price of $0.25 per Unit for gross proceeds of $11,533,000.
Each Unit consists of one common share of the Company (“Common Share”) and one Common Share purchase warrant of the Company (“Warrant”). Each whole Warrant shall be exercisable for a period of two years from the closing date of the Offering to purchase one Common Share at a price of $0.35 per Common Share. The Common Shares and Warrants issued pursuant to the Offering are subject to a four month hold period under applicable securities laws, which hold period expires four months and a day following the date of issue of the Units.
Pivot will use the proceeds from the first tranche to fully repay in cash two outstanding convertible debentures totaling C$2.75 million. In addition, the Company will make a final installment payment in the amount of US$333,333 to complete the purchase of the RTIC patent portfolio.
Pivot’s CEO, Dr. Patrick Frankham stated, “I would like to thank all of our current and new shareholders who have put their trust in us and have contributed to the success of this financing. The Company’s cash position is strong and is now debt-free. By leveraging the Company’s and strategic shareholder’s relationships with national and international consumer packaged goods players and distributors, we look forward to launching cannabis-based health and wellness products using our patent protected drug delivery technologies.”
SOURCE Pivot Pharmaceuticals Inc.
Trulieve Announces Filing of Final Base Shelf Prospectus
National cannabis company Trulieve Cannabis Corp. (“Trulieve” or the “Company“) (CSE: TRUL) announced that it has filed a (final) short form base shelf prospectus with the securities regulatory authorities in each of the provinces of Canada, other than the Province of Quebec.
The shelf prospectus is valid for a 25-month period, during which time Trulieve and certain of its security holders may qualify the distribution by way of prospectus in Canada of up to $250 million of subordinate voting shares, debt securities, warrants, subscription receipts, units, or any combination thereof of the Company from time to time, separately or together, in amounts, at prices and on terms to be determined based on market conditions at the time of the offering. The specific terms of any future offering will be established in a prospectus supplement to the shelf prospectus, which supplement will be filed with the applicable Canadian securities regulatory authorities. Unless otherwise specified in the prospectus supplement relating to a particular offering of securities, the net proceeds from any sale of any securities may be used by Trulieve for general corporate purposes, including funding ongoing operations and/or working capital requirements, to repay indebtedness outstanding from time to time, for capital projects and potential future acquisitions. The Company will not receive any proceeds from any sale of any Securities by the selling securityholders.
SOURCE Trulieve Cannabis Corp.
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