Organigram Holdings Inc. (TSX VENTURE: OGI) (OTCQX: OGRMF), the parent company of Organigram Inc. (the “Company” or “Organigram”), a leading licensed producer of cannabis, announced today that it has applied to list its common shares on the NASDAQ Global Select Market (“NASDAQ”).
In advance of anticipated listing on the NASDAQ, Organigram will file a Form 40-F Registration Statement with the United States Securities and Exchange Commission. The listing of the Company’s common shares on the NASDAQ remains subject to the approval of the NASDAQ and the satisfaction of all applicable listing and regulatory requirements. The Company will continue to maintain the listing of its common shares on the TSX Venture Exchange under the symbol “OGI”.
In connection with filing the Form 40-F, the Company has refiled its annual financial statements for the fiscal years ended 2017 and 2018 to include statements in the audit report of the Company’s independent registered public accounting firm to clarify that the consolidated financial statements have been filed in accordance with International Financial Reporting Standards “as issued by the International Accounting Standards Board”. This change is being made to comply with the requirements of the United States Securities and Exchange Commission. No other substantive changes are being made to the consolidated financial statements.
“As a management team we are seeing increased interest from investors in the U.S. and internationally and believe that having a listing on the NASDAQ will facilitate trading” says Paolo De Luca, Chief Financial Officer of Organigram. “In addition, based on precedents in the cannabis space, we expect trading volumes to increase which should result in increased liquidity for all investors”.
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.
Trade Show News4 weeks ago
Center For Humane Technology’s Tristan Harris And Aza Raskin Launch Humane: A New Agenda For Tech
Trade Show News4 weeks ago
Cardano ADA Partner, EMURGO, Announces Upcoming Release of Cardano Blockchain Explorer Seiza at IOHK Summit
Cannabis3 weeks ago
National Cannabis Month Shines Light on CBD-Infused Hard Candies Like Candy Head’s Products
Trade Show News4 weeks ago
Joint Forum of Financial Market Regulators continues work on collaboration and information sharing at its Annual Meeting
Trade Show News3 weeks ago
Largest FinTech Event In Southeast Announces 2020 Dates
3 weeks ago
Currax™ Holdings USA LLC Announces Launch and Close of Acquisition
Trade Show News4 weeks ago
Technology Association of Georgia Names Brightwell 2019 FinTech ADVANCE Award Winner
Cannabis4 days ago
Namaste Technologies Provides Third Bi-Weekly Default Status Report regarding Management Cease Trade Order