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.
Phivida Announces the Launch of Wikala’s Private Beta for Its eCommerce Platform
Phivida Holdings Inc. (CSE: VIDA OTCQX: PHVAF) (“Phivida” or the “Company”) announces the private beta launch of the Wikala eCommerce platform, featuring cannabis accessories from reputable manufacturers.
“The interest in the private beta release has been phenomenal so far and we look forward to working closely with our customers and creating the most trusted cannabis online marketplace in this industry,” says David Moon, CEO of Wikala. “We’ve been working at maximum pace to get to this stage, and it’s encouraging to think that this is only the beginning of where Wikala and Phivida can go.”
Wikala is a stand-alone eCommerce platform that is set to become the first website in the global cannabis and hemp-CBD space to offer independent sellers’ personal storefronts where they can list their goods within an existing marketplace. The private beta signup is still open and the platform will be available for use for a select number of beta users, based on their geography, for the next 55 days. During that time, the Wikala team will monitor user feedback and prepare the software for the next release.
The core features included in the private beta release are a fraction of the company’s ultimate vision, however, they are a necessary first step and include all of the basic features of an eCommerce website, including a product comparison tool that is yet to be seen in the cannabis market.
“The potential of Wikala is in its modularity and the fact that we can develop new creative features quickly and without having to rely on third party software,” continued Mr. Moon. “This allows us to use the Open Beta release to set the stage for the next milestone, which is to open the sellers’ portal and allow individual businesses to open their stores on Wikala.”
Wikala’s next milestone is the public release of the platform, expected on July 15, 2019, which will feature a refurbished design for mobile devices, a coupon system for discounts, advanced smart search and various additional functionalities that provide a glitch-free user experience from shopping to product delivery. The July 15 public launch is expected to be the platform’s Open Beta.
SOURCE Phivida Holdings Inc.
HelloMD Now Offers THC Cannabis Delivery to West Los Angeles
HelloMD—the world’s largest online platform of cannabis patients, doctors and consumers—today announced delivery of THC-infused products to Los Angeles customers as part of a state-wide roll-out. Residents of the greater San Francisco Bay Area are already able to receive THC products from HelloMD’s large menu of vetted providers within two hours of ordering. Now Angelenos will have that opportunity, too.
“We’re excited to welcome Los Angeles to our distribution base,” says HelloMD co-founder Pamela Hadfield. “Our platform is special because we have a membership opportunity that allows for a 20% discount on purchases, a free educational consult with a cannabis-savvy doctor and no-cost shipping on orders $50 and better. Being able to directly serve L.A. members within two hours of ordering and meet their needs for medicinal and recreational products in real time is a milestone we’ve been striving for.”
Founded in 2014, HelloMD is the world’s largest online wellness-oriented cannabis community as well as the nation’s first and only digital platform to provide HIPPA-compliant video chats between cannabis doctors and patients in every state.
HelloMD’s digital healthcare platform offers today’s cannabis patients a full turnkey experience. Cannabis consumers can consult with a doctor via real-time video, obtain answers to questions from a network of doctors and experts, explore the most up-to-date research and studies available, and purchase the highest quality cannabis and hemp-derived CBD products on the market.
The HelloMD marketplace ships hemp-derived CBD products nationwide and to Canada. It has delivered same-day THC products to patients in Northern California since 2018. Los Angeles delivery launched last week in the city’s western region and will expand to cover the metropolitan area from there.
There’s certainly demand. According to an April 2019 study conducted by BDS Analytics, two-thirds of Californian adults are already cannabis users or identify as “acceptors” who would consider consuming cannabis within the next 12 months. Product delivery is key in all consumer industries today and cannabis is no different.
“We’re delighted to be able to meet our adult customers and deliver products they trust directly to them, wherever they are,” says Hadfield. “Dispensary experiences can be fun, but once you know what products work for you, it’s more convenient to simply have them sent when you need them.”
To schedule an online video consultation with a HelloMD doctor, learn about the many medicinal benefits of cannabis and CBD, or to purchase a HelloMD partner product, visit HelloMD.com. The doctor will see you now.
True Drinks Holdings, Inc. Appoints Adam Mirkovich as Chief Information Officer
True Drinks Holdings, Inc. (the “Company” or “True Drinks”) (OTC PINK: TRUU) announced today the appointment of Adam Mirkovich as the Chief Information Officer of the Company and Charlies Chalk Dust LLC, a wholly owned subsidiary of the Company. In his new role, Adam will oversee data, process, and analytics management across the Company’s entire supply chain and report directly to the Company’s Chief Operating Officer, Ryan Stump. Adam will also oversee new product development and commercialization for the Company’s diverse line of products. Adam has shown significant operations expertise in the nicotine vape and beverage spaces throughout his career in a multitude of roles.
“Adam brings a whole new element to the True Drinks and Charlie’s Chalk Dust operations,” said Ryan Stump, Chief Operating Officer of True Drinks and Charlie’s Chalk Dust. “His expertise and ability to build teams will create a more streamlined approach to our upcoming projects. We believe that Adam will ultimately help scale the business as we continue to expand our current operations and explore new opportunities.”
Before joining the Company, Adam served as the COO for a multi-state premium cannabis vape brand, Orchid Ventures. Adam also served as an independent management consultant specializing in building and optimizing value chains for startups and growth stage companies in the beverage, nicotine vape, and nutritional supplements industries. Adam was also the Product Lifecycle Management (“PLM“) Program Manager for Niagara Bottling, where he led the product revision, introduction, and discontinuance practices for customers’ private labeled water, flavored, and carbonated beverages. Prior to his role in PLM, Adam was a member of the Supply Chain Logistics team at Niagara Bottling, providing strategic support of company expansion activities and tactical support of purchasing, production planning, and multi-region logistics in North American operations.
“I have had the privilege to watch the Charlie’s Chalk Dust team develop and position themselves as leaders in the premium e-liquid space over the past three years. I admire Brandon and Ryan’s dedication to their employees, customers, and products. I am excited to join the True Drinks and Charlie’s Chalk Dust family for this next stage of growth,” said Adam.
SOURCE True Drinks Holdings, Inc.
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