Cannabis One Holdings Inc. (CSE:CBIS) (“Cannabis One“, “CBIS“, or the “Company“), an emerging, premier “House of Brands” in North America, is pleased to announce that it is expanding its multi-state footprint for both CBD and THC-infused products with the leasing of two (2) manufacturing and processing facilities in the State of Oregon, totaling over 21,000 ft2. Located near Portland, Oregon, the Company is transitioning the existing facilities into state-of-the-art manufacturing and distribution centers. These facilities are being developed in accordance with GMP (Good Manufacturing Practices) standards to ensure the production of only the highest-quality products – with an eye towards international export, as legislation and regulation may permit.
Jeff Mascio, CEO of Cannabis One stated, “Following the passage of the United States Farm Bill, mainstream consumers will increasingly be able to enjoy the broad benefits of non-psychoactive hemp-derived CBD, with Cannabis One positioning well to take advantage of this global opportunity.” Mr. Mascio continued, “Having successfully operated in one of the most competitive cannabis jurisdictions around the world, Cannabis One is confident it can translate its experience into the Oregon market and abroad.”
Additionally, the Cannabis One team is excited to announce its new “Herah” product line, consisting of CBD-wellness products, inspired by cannabis industry pioneer, Herah Osborne. The Herah product line will incorporate sought-after botanical ingredients into topical and tincture applications, including eye repair serums, body lotions, and facial creams. The development of ‘Herah’-branded products will also permit Cannabis One to utilize its new CBD platform to produce and distribute its Honu-branded line of CBD-infused products and Evergreen Organix-branded line of CBD edibles, confections, and topicals. These innovative new product lines are a continuation of Cannabis One’s stated strategy of leveraging award-winning brands to create multi-state brand arbitrage opportunities.
Herah Osborne commented, “As a mother of twins with a rare genetic disorder, my cannabis journey began with the pursuit of novel therapies to manage such symptoms. With this announcement, I am thrilled to continue this endeavour and to partner with the experience of Cannabis One’s management team to continue the development of alternative CBD-wellness solutions for afflicted individuals across the country.”
In pursuing the development of CBD production facilities, Cannabis One is strategically entering the CBD-wellness market at a time when U.S. federal regulations now permit a growing breadth of products containing hemp-derived CBD. The tremendous opportunity offered by hemp-derived CBD has been confirmed by the recent entry of nation-wide retailers, including CVS Health (NYSE: CVS), as they look to capitalize on the increasing number of applications for hemp-derived CBD. In addition to its Herah CBD line, Cannabis One’s entry into the Oregon market is anticipated to also provide the Company with another facility from which to manufacture and distribute its complete array of award-winning THC brands, including Honu, Evergreen Organix, INDVR, and West Edison, upon securing the requisite Oregon Liquor Control Commission (“OLCC“) cannabis licensing approvals.
SOURCE Cannabis One Holdings Inc.
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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