Cannabis
PURE GLOBAL PROVIDES STRATEGIC UPDATE
TORONTO, Feb. 12, 2020 (GLOBE NEWSWIRE) — Pure Global Cannabis Inc. (TSX.V:PURE; OTC: PRCNF) (the “Company” or “Pure Global” or “Pure”), an integrated growth-oriented cannabis bulk extracts and consumer products manufacturing company, operating through its wholly-owned subsidiary PureSinse® Inc., a Health Canada Licensed Producer under the Cannabis Act, which also operates under a B2B brand PureCanna Solutions, is very pleased to provide a strategic update on the development of its business. The Company continues to move forward with its goal of becoming a global sector leader focused on manufacturing high quality cannabis flower, extracts, distillates, post-derivative cannabis and cannabidiol (“CBD”) consumer products for the Canadian and international markets. The Company’s key manufacturing hub is based in Brampton, Ontario with joint operations underway for scaled hemp derived CBD manufacturing in Yunnan China.“Following our recently announced successful financings, which included a mortgage re-financing, a second mortgage and a non-brokered private placement, Pure Global is well capitalized and prepared for an exciting year of growth,” said Malay Panchal, CEO & President. “We are now strongly focused on growing our business and building shareholder value by keeping our operations lean while scalable concentrated in areas of highest sales volumes and margins.” 2019 MilestonesPure Global announced a significant number of milestones in 2019. These include:Awarded Health Canadas Sales License for dried flower Q1 2019Launched Cannabinoid Clinical Education Network for physicians Q2 2019Acquired Spark Cannabis Clinic enabling telemedicine and referral revenues Q1 2019Acquired Great Canadian Hemp Company Q2 2019Established Medical Advisory Committee Q2 2019Received Oil Sales License from Health Canada Q3 2019Signed agreement with KMT-Hansa Corp. for large scale hemp manufacturing in China Q3 2019Received License to sell extracts, edibles and topicals Q4 2019Received Health Canada approval to add manufacturing capabilities Q4 2019Received approvals from Health Canada to amend its existing license to add manufacturing capabilities to its already licensed facility in BramptonAdded 10,000 sq. ft. of GMP grade manufacturing space comprising 12 rooms that will be used for cultivation, processing, extraction, and manufacturing finished cannabis and CBD productsCreated B2B brand, PureCanna Solutions Q4 2019Liquidity and Balance SheetIn order to fund the execution of its business plan, Pure Global recently announced several financings that strengthens the Company’s balance sheet and ensures short-term liquidity. These recently announced financings include:Mortgage Re-financing:The mortgages will be secured by Pure’s two industrial warehouses located in Brampton, Ontario, one of which is fully licensed and operational for indoor cultivation, extraction, and processing. The $7,250,000 in mortgages will be apportioned as follow:$5,000,000 to refinance current debt;$932,500 to provide Pure with working capital;$682,500 to be used to create a 12-month interest payment reserve; $250,000 as a holdback for potential building remedial costs;balance to cover fees, transactional and legal costs.Private Placement:The private placement offering will consist of up to 37,500,000 units of the Company to be priced at $0.056 per unit for total proceeds of up to $2,100,000. Each unit will consist of one Common Share and one-half Common Share purchase Warrant. Each Warrant will entitle the holder to purchase one Common Share at $0.1225 within 30 months. Manufacturing UpdatePure recently received an amendment to their existing license from Health Canada to add manufacturing capabilities to its already licensed facility in Brampton. The company has commenced cultivation in traditional indoor hydroponic and final vertical farming method with first harvest expected in Q2 2020. The Company also has capabilities for CO2 supercritical extraction, live resin distillation, and manufacturing of finished branded and white label products for the medical, legal adult, wellness, and CBD markets. The Company recently announced its B2B division, PureCanna Solutions, which offers high quality contract manufacturing, packaging, processing, and tolling services, for which it is currently securing orders for extracts, oils, tinctures, capsules, topicals, vape pens, and soon edibles among other post derivative product manufacturing and distribution.The company has commenced or is about to commence the following:CO2 super critical extraction system 25kg to 50kg monthly output starting Q1 20201 full vertical grow room and 1 traditional hydroponic growing room expected to achieve 150kg per month capacity with first harvest expected Q2 2020 (cultivation commenced Jan 2020)Final testing of proprietary indoor vertical growing system for Phase 2b to add 300kg per month capacity (Q3 2020)Installation of targeted 100+ tons biomass extraction systems CBD isolate manufacturing for Q2 2020 readinessProcessing and packaging lines for vape pens, topicals, dried flower, oils, tinctures, edibles, among other post-derivative products for thousands of unit per day capacity, scalable with demandChina UpdatePure recently entered a joint operating agreement for a large scale cultivation and processing operation in Yunnan, China. With tens of thousands of acres made available to us through local, state, and federal licensing, a unique license to import high quality CBD genetics, Pure plans to produce and distribute large volumes of organic CBD globally, while creating a manufacturing hub in China with KMT. This project is supported and sanctioned through the Government of China which is making development in western provinces a priority by bringing high value crops to the regions as well as significant infrastructure development. Our development partner KMT provides the resources for the development, while Pure manages the operations and sales. Pure brings large scale commercial agricultural technology, manufacturing, and sales expertise, genetics, and an existing Canadian license through which the company will be able to operate under Special Economic Zone tax-free export provisions. We are keeping a close watch on the progress of the corona virus spread which is in the opposite region to where our project is located, and so far has not impacted our project though all travel there have been delayed. The project is progressing on schedule with cultivation expected to commence Q2 2020.Catalysts AheadManufacturing Upgrade – 100+ tons Biomass Extraction – expected Q2 2020First Harvest – Q2 2020CBD Bulk Sales – expected early 2020Launch Great Canadian Hemp Company line of products in Europe and Asia – expected H1 2020China Cultivation Start – expected Q2 2020China Extraction and Isolate sales – expected H2 2020Canada Phase 3 Readiness – expected H2 2020Cash Flow Positivity – expected Q2/Q3 2020Supply and Sales Agreements expected beginning Q1 2020Launch of Additional Branded and Private Label Products expected beginning Q2 2020“We are excited with the increasing momentum we are seeing as we enter this new year with the number of retail locations where cannabis and CBD products can be sold continues to grow month over month. We believe there will be a 10-fold increase in the market size in Canada and internationally for CBD products over the next 24 months and beyond for which we are positioning. We thank everyone for their continued support and patience and look forward to creating significant value for our investors and all our stakeholders over the next year and beyond as we strengthen our team and our presence in the market,” said Malay Panchal, Founder and CEO.About Pure Global CannabisPure Global is an EU-GMP grade cannabis manufacturer focused on producing high-quality high margin branded and white label cannabis and CBD consumer products, premium quality bulk dried flower, full spectrum concentrates, and pre-formulated active ingredients for CPG manufacturers globally. The Company is led by a professional team of experienced pharma, biotechnology, horticultural, extraction, manufacturing and consumer packaged goods experts, and operates through its wholly owned subsidiary, PureSinse® Inc., which is a licensed producer under the Cannabis Act. Pure operates a B2B brand under PureCanna Solutions which is focused on high-margin bulk cannabis extracts, bulk CBD sales, as well as white label, and co-manufacturing services. The Company’s 18,000 square foot Brampton manufacturing campus houses facilities for vertically farmed hydroponic indoor cultivation, R&D, extraction, processing, and packaging. To compete in international markets, Pure Global is the process of deploying a joint operation in Yunnan, China for large scale hemp derived organic bulk CBD manufacturing and processing for international bulk and finished product sale under Special Economic Zone tax-free export provisions. Pure has also launched, or is in the process of launching, several premium branded products in targeted consumer categories into the Canadian legal adult market including PureSinse® Wellness, Paper&Weed Pre-Rolls, Galaxy Cannabis, Kumo Edibles, and PureSinse® Medical, which operates with Pure’s wholly own subsidiary Spark Cannabis Clinic, offering free telemedicine consultation for medical cannabis patients across Canada. Through its recently acquired division, The Great Canadian Hemp Company®, which won Hemp Product Company of the year at the recent 2019 GrowUp Awards, Pure is launching a line of organic hemp oil and CBD topical products, into several markets in Europe and Asia in the first half of 2020. FORWARD-LOOKING STATEMENTSThis news release contains certain forward-looking statements, including, but not limited to, statements about Pure Global’s future plans and intentions. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, Pure Global cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and Pure Global assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.To register to Pure Global’s mailing list, please visit www.pureglobal.com. Follow @pureglobalcanna on Twitter and Facebook and @pureglobalcannabis on Instagram.SOURCE Pure Global Cannabis Inc.FOR FURTHER INFORMATION:Stephen Pynn – VP Corporate Development
Pure Global Cannabis Inc.
1-866-840-PURE (7873)
[email protected] Malay (Mel) Panchal – Founder, President & CEO
Pure Global Cannabis Inc.
1-866-840-PURE (7873)
[email protected]
TORONTO and GLIL YAM, Israel, Sept. 11, 2024 /PRNewswire/ — IM Cannabis Corp. (“IMC” or the “Company“) (NASDAQ: IMCC) (CSE: IMCC), a leading medical cannabis company with operations in Israel and Germany, is pleased to announce that Mr. Shmulik Arbel has been appointed to the Company’s board of directors (the “Board“) effective September 9, 2024. Mr. Arbel brings a wealth of experience in strategic plans that drive profitability, as well as, finance and corporate governance, further strengthening the company’s commitment to driving growth while focusing on sustainable profitability.
“We are thrilled to welcome Shmulik to our Board of Directors,” said Oren Shuster, Chief Executive Officer of IM Cannabis. “Shmulik’s extensive international experience at Leumi, coupled with his proven track record in banking and finance will be invaluable as we continue to deliver on our strategic initiatives.”
Mr. Arbel retired as Deputy CEO from Leumi, Israel’s largest banking group, in April 2023, where he was instrumental in business growth and leading the service revolution. With over 25 years of experience at Leumi, Arbel has held senior roles throughout the organization, such as head of retail banking, head of the corporate division, and as chairman of Leumi UK. With key roles in Israel, New York and London, Mr. Arbel has a wide view on international business.
“I am honored to join the Board of Directors at IMCC,” said Mr. Arbel. “I look forward to leveraging my experience in banking and finance, providing guidance as IMCC continues to establish itself as the go-to brand in the cannabis world. I look forward to contributing to the company’s growth.”
Arbel holds a BA and MBA from Tel Aviv University.
About IM Cannabis Corp.
IMC (Nasdaq: IMCC) (CSE: IMCC) is an international cannabis company that provides premium cannabis products to medical patients in Israel and Germany, two of the largest medical cannabis markets. The Company has focused its resources to achieve sustainable and profitable growth in its highest value markets, Israel and Germany. The Company leverages a transnational ecosystem powered by a unique data-driven approach and a globally sourced product supply chain. With an unwavering commitment to responsible growth and compliance with the strictest regulatory environments, the Company strives to amplify its commercial and brand power to become a global high-quality cannabis player.
The IMC ecosystem operates in Israel through its commercial relationship with Focus Medical Herbs Ltd., which imports and distributes cannabis to medical patients, leveraging years of proprietary data and patient insights. The Company also operates medical cannabis retail pharmacies, online platforms, distribution centers, and logistical hubs in Israel that enable the safe delivery and quality control of IMC products throughout the entire value chain. In Germany, the IMC ecosystem operates through Adjupharm GmbH, where it distributes cannabis to pharmacies for medical cannabis patients.
Disclaimer for Forward-Looking Statements
This press release contains forward-looking information or forward-looking statements under applicable Canadian and United States securities laws (collectively, “forward-looking statements“). All information that addresses activities or developments that we expect to occur in the future are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect”, “likely” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made. In the press release, such forward-looking statements include, but are not limited to, statements relating to: the stated benefits Mr. Arbel’s appointment, including the further strengthening the Company’s commitment to driving growth in the German market while focusing on sustainable profitability; and Mr. Arbel’s international experience and track record in banking and finance will be invaluable to the Company.
Forward-looking statements are based on assumptions that may prove to be incorrect, including but not limited to: the Company’s ability to realize upon the stated benefits Mr. Arbel’s appointment; and Mr. Arbel’s international experience and track record in banking and finance becoming invaluable to the Company.
The above lists of forward-looking statements and assumptions are not exhaustive. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated or implied by such forward-looking statements due to a number of factors and risks. These include: the failure of the Company to comply with applicable regulatory requirements in a highly regulated industry; unexpected changes in governmental policies and regulations in the jurisdictions in which the Company operates; the Company’s ability to continue to meet the listing requirements of the Canadian Securities Exchange and the NASDAQ Capital Market; any unexpected failure to maintain in good standing or renew its licenses; the ability of the Company and its subsidiaries (collectively, the “Group“) to deliver on their sales commitments or growth objectives; the reliance of the Group on third-party supply agreements to provide sufficient quantities of medical cannabis to fulfil the Group’s obligations; the Group’s possible exposure to liability, the perceived level of risk related thereto, and the anticipated results of any litigation or other similar disputes or legal proceedings involving the Group; the impact of increasing competition; any lack of merger and acquisition opportunities; adverse market conditions; the inherent uncertainty of production quantities, qualities and cost estimates and the potential for unexpected costs and expenses; risks of product liability and other safety-related liability from the usage of the Group’s cannabis products; supply chain constraints; reliance on key personnel; the risk of defaulting on existing debt; risks surrounding war, conflict and civil unrest in Eastern Europe and the Middle East, including the impact of the Israel-Hamas war on the Company, its operations and the medical cannabis industry in Israel; risks associated with the Company focusing on the Israel and Germany markets; the inability of the Company to achieve sustainable profitability and/or increase shareholder value; the inability of the Company to actively manage costs and/or improve margins; the inability of the company to grow and/or maintain sales; the inability of the Company to meet its goals and/or strategic plans; the inability of the Company to reduce costs and/or maintain revenues; the Company’s inability to take advantage of the legalization of medicinal cannabis in Germany; and the Company’s inability to realize upon the stated benefits Mr. Arbel’s appointment; and Mr. Arbel’s international experience and track record in banking and finance not becoming valuable to the Company.
Please see the other risks, uncertainties and factors set out under the heading “Risk Factors” in the Company’s annual report dated March 28, 2024, which is available on the Company’s issuer profile on SEDAR+ at www.sedarplus.ca and Edgar at www.sec.gov/edgar. Any forward-looking statement included in this press release is made as of the date of this press release and is based on the beliefs, estimates, expectations and opinions of management on the date such forward looking information is made. The Company does not undertake any obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
Company Contact:
Anna Taranko, Director Investor & Public Relations
IM Cannabis Corp.
+49 157 80554338
[email protected]
Oren Shuster, CEO
IM Cannabis Corp.
[email protected]
Logo: https://mma.prnewswire.com/media/1742228/IM_Cannabis_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/im-cannabis-announces-appointment-of-shmulik-arbel-to-board-of-directors-302244961.html
Cannabis
Europe Medical Cannabis Market Forecast 2024-2032: Tilray, Aurora Cannabis, and GW Pharmaceuticals Dominate the Market Landscape
Dublin, Aug. 29, 2024 (GLOBE NEWSWIRE) — The “Europe Medical Cannabis Oil Market Size, Industry Dynamics, Opportunity Analysis and Forecast 2024-2032.” report has been added to ResearchAndMarkets.com’s offering.
The Europe Medical Cannabis Oil market is poised for significant growth, projected to escalate from US$ 0.91 billion in 2023 to US$ 2.40 billion by 2032, advancing at a CAGR of 12.08%. In this comprehensive research report, the market is analyzed by:
- Derivatives;
- Source;
- Application;
- Route of Administration;
- End-user;
- Distribution Channel; and
- Country.
Market Highlights Identified in the Report
- Progressive legalization across Europe is creating a favorable regulatory environment, enhancing market expansion for medical cannabis oil products.
- Germany leads the market with a robust infrastructure and supportive regulations, while other countries like the UK, Italy, and Spain show significant growth potential based on evolving regulatory landscapes and market dynamics.
- Key players such as Tilray, Aurora Cannabis Inc., and GW Pharmaceuticals dominate the market, emphasizing research, strategic partnerships, and innovation to maintain competitive edge amidst evolving industry dynamics.
The medical cannabis oil market has experienced substantial growth as legalization and acceptance of cannabis-based treatments expand globally. Cannabis oil, derived from the cannabis plant through extraction methods, contains cannabinoids such as THC and CBD, known for their therapeutic properties. Increasing recognition of cannabis oil’s potential in alleviating symptoms of various medical conditions, including chronic pain, epilepsy, and anxiety disorders, has driven its adoption in medical settings.
Governments in several countries are progressively legalizing medical cannabis, creating a conducive regulatory environment for market expansion. Additionally, growing consumer awareness about alternative and natural therapies has fueled the demand for cannabis oil products. The market is characterized by diverse product offerings, including full-spectrum and CBD-isolate oils, catering to different therapeutic needs and preferences.
Despite regulatory challenges and stigma associated with cannabis, the medical cannabis oil market continues to evolve, driven by ongoing research, favorable legislative changes, and shifting attitudes toward cannabis-based therapies in healthcare.
Regional Insights
Germany is likely to maintain its leadership position in the European medical cannabis oil market due to its established infrastructure, supportive regulations, and strong healthcare system. Germany legalized medical cannabis in 2017, giving the market a head start compared to many other European countries. This established infrastructure and experience position Germany as a leader in the field. As awareness and acceptance of medical cannabis increase, the number of patients seeking treatment in Germany is steadily rising. This fuels market growth and incentivizes further investment in research and development.
Germany’s regulatory framework for medical cannabis is considered relatively patient-friendly compared to some other European countries. This facilitates access for patients with qualifying conditions. The UK legalized medical cannabis in 2018 and is experiencing an increase in patient access programs. This, coupled with ongoing research, could lead to significant market growth. Italy legalized medical cannabis in 2006 but has faced challenges with availability. As regulations become more streamlined and patient access expands, the Italian market holds significant growth potential. Spain has a well-established medical cannabis industry with a focus on domestic production. As regulations evolve and export opportunities increase, the Spanish market could see a boost.
Competitive Landscape
The Medical Cannabis Oil market is characterized by a vigorous competitive landscape, with prominent entities like Tilray, Aurora Cannabis Inc., GW Pharmaceuticals, Almiral, Bedrocan, and others at the forefront, collectively accounting for approximately 41 % of the overall market share. This competitive milieu is fueled by their intensive efforts in research and development as well as strategic partnerships and collaborations, underscoring their commitment to solidifying market presence and diversifying their offerings.
The primary competitive factors include pricing, product caliber, and technological innovation. As the Medical Cannabis Oil industry continues to expand, the competitive fervor among these key players is anticipated to intensify. The impetus for ongoing innovation and alignment with evolving customer preferences and stringent regulations is high. The industry’s fluidity anticipates an uptick in novel innovations and strategic growth tactics from these leading corporations, which in turn propels the sector’s comprehensive growth and transformation.
Key Topics Covered
Chapter 1. Research Framework
Chapter 2. Research Methodology
Chapter 3. Executive Summary: Europe Medical Cannabis Oil Market
Chapter 4. Europe Medical Cannabis Oil Market Overview
Chapter 5. Europe Medical Cannabis Oil Market Analysis, by Derivatives
Chapter 6. Europe Medical Cannabis Oil Market Analysis, by Source
Chapter 7. Europe Medical Cannabis Oil Market Analysis, by Application
Chapter 8. Europe Medical Cannabis Oil Market Analysis, by Route of Administration
Chapter 9. Europe Medical Cannabis Oil Market Analysis, by End-user
Chapter 10. Europe Medical Cannabis Oil Market Analysis, by Distribution Channel
Chapter 11. Europe Medical Cannabis Oil Market Analysis, by Country
Chapter 12. The UK Medical Cannabis Oil Market Analysis
Chapter 13. Germany Medical Cannabis Oil Market Analysis
Chapter 14. The Netherlands Medical Cannabis Oil Market Analysis
Chapter 15. Italy Medical Cannabis Oil Market Analysis
Chapter 16. Spain Medical Cannabis Oil Market Analysis
Chapter 17. Poland Medical Cannabis Oil Market Analysis
Chapter 18. Rest of Europe Medical Cannabis Oil Market Analysis
Chapter 19. Company Profiles (Company Overview, Financial Matrix, Key Product Landscape, Key Personnel, Key Competitors, Contact Address, and Business Strategy Outlook)
A selection of companies mentioned in this report includes, but is not limited to:
- Aurora Cannabis Inc.
- Bedrocan
- Biocann
- BIOTA Biosciences LLC
- Cannamedical
- Mary Jane CBD
- Sanity Group GmbH
- Tilray
- Valcon Medical
For more information about this report visit https://www.researchandmarkets.com/r/dh7q46
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
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