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The Green Organic Dutchman and Caliper Foods Report Positive Results from Pharmacokinetic Study of Proprietary Water-Soluble Cannabinoid Technology

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The Green Organic Dutchman Holdings Ltd. (the “Company” or “TGOD”) (TSX:TGOD) (US:TGODF), a leading producer of premium certified organic cannabis, and Caliper Foods (formerly Stillwater Foods), a best-in-class provider of water-soluble cannabinoid products, are pleased to unveil the results of a preliminary human pharmacokinetic (“PK“) study of Caliper CBD, Caliper Foods’ proprietary tasteless and odourless water-soluble powder that can be added to almost any food or beverage.

TGOD intends to commercialize organic cannabinoid dissolvables in Canada beginning in December 2019 under the TGOD-Infusers line of premium cannabis products. The Company has already developed novel fast-acting formulations leveraging this technology with its lineup of organic teas, shots, chewables, and ready-to-drink beverages.  In the US, Caliper Foods plans to release Caliper CBD, its own line of precision-dosed CBD dissolvables, this fall.

For this study, half of the participants were administered 30mg of Caliper Foods’ water-soluble CBD powder in 8oz of water while the other half received 30mg of CBD dispersed in MCT oil. Blood samples were drawn at pre-determined times over six hours.  Early data shows that the group that received Caliper CBD demonstrated faster onset within 15 minutes, with higher concentrations achieved at 15 minutes compared to the maximum concentration achieved at 45 min with the CBD in oil formulation, and a 4.5-fold higher observed total bioavailability. The CBD was largely eliminated from the body after about 6 hours for both Caliper CBD and CBD oil subjects, and a more rapid reduction was observed with the Caliper CBD subjects after 45 minutes.

Following this promising initial study, TGOD and Caliper Foods will shortly conduct a confirmatory Clinical Phase 1A PK study that will test the Caliper CBD technology formulated into TGOD’s planned portfolio of products including beverages, teas, Infusers, and capsules. The study will be conducted in collaboration with a leading US academic institution.

“We are delighted with these PK results as they confirm the enhanced bioavailability and consistent absorption rates of our proprietary ingredient technology, which can infuse both CBD and THC. This study confirms that consumers absorb 4.5 times more CBD with Caliper CBD than with CBD in MCT oil,” commented Keith Woelfel, Director of R&D at Caliper Foods.  “Our R&D team is working closely with TGOD on the next phase of the clinical study, which, if it confirms the PK results in additional product forms, will make Caliper Foods’ and TGOD’s product suites highly differentiated in terms of substantiated quality.”

“We are thrilled with the results of this preliminary PK study which demonstrate the consistency and precision of Caliper Foods’ proven proprietary technology which is already available in Colorado and which TGOD will commercialize in Canada. Based on this early data, Caliper CBD provides a higher and faster absorption level when compared with CBD-infused oil, which opens a number of possibilities for both the medical and adult-use markets.  Patients and consumers are increasingly informed and savvy, and we plan to seize on the market demand for organic CBD and THC-infused products backed by data-driven science and clinical evidence,” commented Dr. Rav Kumar, Chief Science Officer of TGOD. “We are enthusiastically awaiting our Clinical Phase 1A PK results in time for Cannabis 2.0 in Canada.”

Caliper Foods’ technology consists of a suite of zero-calorie, fast-acting, water-soluble solutions that can simply and easily infuse cannabinoids into beverages, food, and other consumer goods.  It is formulated to quickly absorb into the bloodstream with a predictable onset and offset, allowing these products to offer a consistent, controlled, and safe experience.  While cannabinoids are naturally fat-soluble and tend to have a bitter taste, Caliper Foods’ ingredient technology eliminates the need for fat molecules to speed absorption or added sugar to mask the bitterness. As a result, it enables healthier, better-tasting products with no additional fat, sugar, or artificial flavours.

TGOD has an exclusive agreement with Caliper Foods to license the Caliper CBD’s ingredient technology, as well as other proprietary beverage and food technologies and formulations related to cannabinoid-infused consumer packaged goods within Canada and distribute to certain international jurisdictions outside of the United States.

 

SOURCE The Green Organic Dutchman Holdings Ltd.

Cannabis

Village Farms Opts to Receive $5.94 Million Cash Refund from Pure Sunfarms

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Photo source: bigbendsentinel.com

 

Village Farms International, Inc. (“Village Farms“) (TSX: VFF; Nasdaq: VFF) today announced that it has opted to receive a $5.94 million cash refund from Pure Sunfarms Corp. (“Pure Sunfarms“) relating to an additional equity contribution that Village Farms made to Pure Sunfarms on November 19, 2019 (the “VF Additional Equity Contribution“).

As previously disclosed by Emerald Health Therapeutics, Inc. (“Emerald“), it has been disputing Village Farms’ ability to make the VF Additional Equity Contribution of $5.94 million, as well as the cancellation of 5,940,000 common shares of Pure Sunfarms placed in escrow pending payment by Emerald of its related $5.94 million equity contribution, following its failure to make its required equity contribution to Pure Sunfarms on November 1, 2019. In an effort to narrow the issues in dispute and accelerate the resolution of this shareholder dispute, Village Farms decided to unwind the VF Additional Equity Contribution, which has now been completed, with Pure Sunfarms providing Village Farms with the $5.94 million cash refund. The $5.94 million cash refund to Village Farms also eliminates the costs and delays involved in obtaining an independent appraisal of Pure Sunfarms that resulted from the VF Additional Equity Contribution.

Village Farms continues to seek the cancellation of 5,940,000 common shares of Pure Sunfarms that were placed in escrow pending payment by Emerald of its related equity contribution (the “Emerald Share Cancellation“), which was not made as required. It is Village Farms’ position that the Emerald Share Cancellation is expressly provided for in the applicable legal agreements.

“Due to the arbitration process related to the Emerald Share Cancellation taking significantly longer than originally anticipated, and with the resulting number of incremental shares for our $5.94 million equity contribution unknown, we decided to reduce the number of items in dispute in an effort to bring the matter to resolution sooner for Village Farms and its shareholders,” said Michael DeGiglio, CEO, Village Farms. “In addition, as a result of the $5.94 million cash refund to Village Farms, we anticipate that Pure Sunfarms may call for additional equity contributions by each of Village Farms and Emerald.”

If Village Farms is successful in the arbitration and Emerald’s escrowed shares are cancelled, Village Farms would own 53.5% of Pure Sunfarms and Emerald would own 46.5% effective as of November 19, 2019. Village Farms expects a decision from the arbitration panel during the second half of 2020.

Forward-Looking Statements

Certain statements contained in this press release constitute forward-looking information within the meaning of applicable securities laws (“forward-looking statements”). Forward-looking statements may relate to Village Farms’ future outlook or financial position and anticipated events or results and may include statements regarding the financial position, business strategy, budgets, litigation, projected production, projected costs, capital expenditures, financial results, taxes, plans and objectives of or involving Village Farms and Pure Sunfarms. Particularly, statements regarding future results, performance, achievements, prospects or opportunities for Village Farms, Pure Sunfarms, the greenhouse vegetable industry or the cannabis and hemp industries are forward-looking statements. In some cases, forward-looking information can be identified by such terms as “outlook”, “may”, “might”, “will”, “could”, “should”, “would”, “occur”, “expect”, “plan”, “anticipate”, “believe”, “intend”, “estimate”, “predict”, “potential”, “continue”, “likely”, “schedule”, “objectives”, or the negative or grammatical variation thereof or other similar expressions concerning matters that are not historical facts.

Although the forward-looking statements contained in this press release are based upon assumptions that management believes are reasonable based on information currently available to management, there can be no assurance that actual results or events will be consistent with these forward-looking statements. Forward-looking statements necessarily involve known and unknown risks and uncertainties, many of which are beyond Village Farms’ control, that may cause Village Farms’ or the industry’s actual results, performance, achievements, prospects and opportunities in future periods to differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, the factors contained in Village Farms’ filings with U.S. and Canadian securities regulators, including as detailed in Village Farms’ annual information form and management’s discussion and analysis for the year-ended December 31, 2018 and for the three and nine-month periods ended September 30, 2019.

When relying on forward-looking statements to make decisions, Village Farms cautions readers not to place undue reliance on these statements, as forward-looking statements involve significant risks and uncertainties and should not be read as guarantees of future results, events, performance, achievements, prospects and opportunities. The forward-looking statements made in this press release only relate to events or information as of the date on which the statements are made in this press release. Except as required by law, Village Farms undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

 

SOURCE Village Farms International, Inc.

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Canada House Wellness Group Announces Results of Annual General Meeting and Issuance of Stock Options

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Canada House Wellness Group Inc. (CSE: CHV) (“Canada House” or the “Company“) is pleased to announce the results of the company’s Annual General Meeting of shareholders that was held in Fredericton, New Brunswick on Thursday, December 19, 2019, where two business items were presented and approved by the shareholders in attendance.

The Directors of the Company that were nominated at the meeting – Norman BettsChris Churchill-SmithShawn GrahamGaetan Lussier, and Dennis Moir – were elected to hold office until the next Annual General Meeting of Shareholders, or until their successors are elected or appointed.

In addition, Ernst & Young LLP were appointed as auditors of the Company for the following year and the Directors were authorized to fix their remuneration.

The business summary presented at the Annual General Meeting is available on the Investor Centre section of Canada House’s website at https://canadahouse.ca.

The Company is also pleased to announce the immediate granting of 500,000 stock options to senior employees and advisors at an exercise price of $0.05 and with a term of 5-years. The grant was made in accordance with the Company’s stock option plan and the policies of the Canadian Securities Exchange.

 

SOURCE Canada House Wellness Group Inc.

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Canopy Growth Revises Beverage Launch Timeline

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Canopy Growth Corporation (“Canopy Growth” or the “Company”) (TSX: WEED), (NYSE: CGC) submitted its final documentation for its beverage facility to Health Canada in late June 2019 and subsequently received the licence in late November 2019. In the seven weeks since receiving the licence, the Company has made meaningful progress towards scaling the production process for its cannabis beverages from lab scale to commercial scale.

Management remains very confident in the underlying beverage science and in its ability to scale production and deliver high quality, differentiated cannabis beverages to the market. However, the scaling process is not complete, and the Company is extending its to-market date while the internal teams complete the final steps.

“Canopy has had seven weeks to work with THC in the brand new beverage facility to scale processes and IP it has developed in the R&D environment,” said David Klein, CEO, Canopy Growth. “In order to deliver products that meet our customer’s high standards we are electing to revise the launch date while we work through the final details.”

Cannabis beverages have disruptive power and in time, may introduce new consumers to the cannabis category. Canopy does not believe this delay will have a material impact on its FY20 revenue.

The Company intends to provide an update with the release of its Q3 FY20 financial results.

Here’s to Future (Cannabis Category) Growth.

 

SOURCE Canopy Growth Corporation

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