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.
email@example.com Malay (Mel) Panchal – Founder, President & CEO
Pure Global Cannabis Inc.
Canada’s Legal Cannabis Industry Advocates for Equitable Financial Treatment
Toronto, Ontario–(Newsfile Corp. – March 27, 2020) – The regulated cannabis industry has recently united to address a critical issue it has faced since its inception: a lack of equitable access to banking services and financial support. The fallout from the COVID-19 pandemic has highlighted the need to fix this while demonstrating that cannabis is an essential product.
We commend the individuals and organizations that have been vocal in their support for the cause: Don Davies (MP), Nathaniel Erskine-Smith (MP), Scott Reid (MP), Dan Sutton (Tantalus Labs), The Canadian Chamber of Commerce, and the Cannabis Council of Canada. Their lobby efforts have been directed towards the Business Development Bank of Canada (BDC), Bill Morneau P.C., M.P. (Minister of Finance), and Navdeep Bains P.C., M.P. (Minister of Innovation, Science and Industry), in an attempt to influence federal decision makers.
In solidarity, Alan Aldous has created an educational website to highlight the positive contributions to the Canadian economy, www.LegalTender.ca. We have also organized a coalition of industry experts, associations, and companies to advocate for change, including the Cannabis Council of Canada, NORML Canada, the British Columbia Independent Cannabis Association, the Ontario Independent Cannabis Association, the Alberta Cannabis Micro Licence Association, and The Cannabis Conservatory.
“The cannabis industry is doing its best to provide Canadians with an uninterrupted supply of legal cannabis, but it is not immune to the effects of COVID-19. Cannabis businesses deserve access to the same financial support being made available to other industries. Cannabis sector jobs are just as worthy of protection as any other,” says Trina Fraser, a prominent cannabis industry lawyer at firm Brazeau Seller Law.
In just one day, hundreds of Canadians have signed this urgent petition (https://bit.ly/2QKvwTQ) advocating for equitable treatment by the Business Development Bank of Canada (BDC) and Federal Government of Canada. We are thrilled by the response so far, and encourage hard-working Canadians to sign, share, and have their voices heard.
About Alan Aldous
Alan Aldous is a public relations agency for the emerging cannabis and psychedelics markets led by leading Canadian cannabis media professionals. The agency works with all the major newswire distribution services across North America, which makes transitioning to Alan Aldous easy for companies with existing PR efforts.
For media contact Alex Krause, Head Publicist, 519-835-8345, firstname.lastname@example.org.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/53883
REPEAT – AgraFlora Organics’ GTA Facility Receives Amendments Necessary to Launch CBD Business
VANCOUVER, British Columbia, March 27, 2020 (GLOBE NEWSWIRE) — AgraFlora Organics International Inc. (“AgraFlora” or the “Company”) (CSE: AGRA) (Frankfurt: PU31) (OTCPK: AGFAF) is pleased to announce its wholly owned subsidiary Sustainable Growth Strategic Capital Corp. (“SGSC”), a federally licensed cannabis company based in the Greater Toronto Area (GTA), has received Health Canada approval to commence extraction at its licensed facility pursuant to an amendment to its Standard Processing License. SGSC also holds Standard Cultivation and Medical Sales Licenses issued pursuant to the Cannabis Act.
SGSC has been actively engaged in the Canadian CBD business, working with partner farmers to optimize the harvest to hemp-crops to maximize the efficiency of subsequent CBD extraction. In March, SGSC commenced a trial extraction (the “Trial”) of hemp-biomass which will be extracted using third-party extraction services and sold as a combination of CBD Crude Oil, CBD Distillate and CBD Isolate to Canadian purchasers. If the Trial yields favourable results with respect to product quality, efficiency and margin SGSC intends to move quickly with a second production cycle of up to 1,300 KG of high-quality hemp biomass containing CBD concentrations over 8%.The current SGSC facility is designed to facility up to 250,000 kg of biomass extraction capacity utilizing chilled ethanol for primary extraction followed by distillation and/or isolation. SGSC intends to use the Trial and subsequent third party extraction cycles to properly design and size its in-house extraction capacity to maximize the profitability and return on capital invested. Once built, SGSC intends to improve its profitability by reducing the cost of extraction, purification and fulfilment by bringing those processes in-house. About AgraFlora Organics International Inc.AgraFlora Organics International Inc. is a growth oriented and diversified company focused on the international cannabis industry. It owns an indoor cultivation operation in London, ON and is a joint venture partner in Propagation Services Canada Inc. and its large-scale 2,200,000 sq. ft. greenhouse complex in Delta, BC. The Company is also retrofitting a 51,500-square-foot good manufacturing practice (“GMP”) edibles manufacturing facility in Winnipeg, Manitoba. AgraFlora has a successful record of creating shareholder value and is actively pursuing other opportunities within the cannabis industry. For more information please visit: www.agraflora.com.ON BEHALF OF THE BOARD OF DIRECTORSBrandon Boddy
Chairman & CEO
T: (604) 398-3147 The CSE and Information Service Provider have not reviewed and does not accept responsibility for the accuracy or adequacy of this release.Forward-looking Information Cautionary StatementExcept for statements of historic fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in forward-looking information, including factors beyond the Company’s control. There are no assurances that the business plans for AgraFlora Organics described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company’s filings with Canadian securities regulators, which are available at www.sedar.com.
Israel Begins Cannabis Exports to Meet Unmet Medical Needs — CFN Media
Seattle, Washington–(Newsfile Corp. – March 27, 2020) – CFN Media (OTCQB: CNFN), the leading agency and financial media network dedicated to the legalized North American cannabis industry announces publication of an article discussing how Israel has shipped the first cannabis export to the UK, marking a new era in Israeli cannabis.
Israel has long been an international center for cannabis research. THC, the psychoactive ingredient in cannabis, and CBD, the plant’s predominant non-psychoactive ingredient, were first isolated and defined by Israeli researcher Dr. Raphael Mechoulam in the early 1960s. Research continued there in the following decades, and the Israeli government has contributed greatly to the country’s prominence in the global cannabis industry.
In Israel, medical cannabis is legal while recreational use remains technically illegal, though the government decriminalized recreational use to some extent in 2017. Government agencies provide funding for cannabis research. In January 2019, the government passed a law to allow exports of medical cannabis, though the first export was announced a year later in January 2020. With that recent development, the table appears set for growth in the Israeli cannabis market.
Click below to view more on Isracann Biosciences – Israel’s First Pure Play Cannabis Firm
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Unmet Need in Europe
BOL Pharma is the Israeli company that announced the first export from the country, with a shipment destined for centers that specialize in the treatment of children with epilepsy and autism in the United Kingdom. The company’s CEO, Dr. Tamir Gedo, stated, “This is truly welcome news and a real breakthrough for the Israeli medical cannabis market. The Israeli cannabis industry has a huge competitive edge in the global arena, compared to many countries trying to enter the cannabis sector… Further opening of the market to exports will enable Israel to become a world leader in the coming years.”
The UK legalized medical cannabis in late 2018. Since then, patients have had a hard time getting prescribed treatments in a timely fashion, with most of the supply coming from foreign countries but facing restrictive regulations. As a result, in early March 2020, the UK government announced a change in import restrictions designed to increase the flow of timely medicinal products to registered patients.
This dynamic is common throughout Europe, with countries adopting medical programs without the infrastructure, both regulatory and physical, to provide supply to its own patients. Israel, with its strategic location combined with governmental commitment to the industry, is in prime position to pick up some of the slack.
Isracann Biosciences Poised to Move
Isracann Biosciences Inc. (CSE: IPOT) (OTC: ISCNF) is an Israeli-based cannabis company poised to enter both the Israeli domestic and the European export cannabis markets. The company is advancing its fully-funded 230,000 sq ft hybrid greenhouse cultivation project while also advancing a partnership with a late stage project consisting of approximately 200,000 sq ft of greenhouses located on over 880,000 sq ft of agricultural land. In conjunction with the cultivation projects, Isracann is developing European distribution channels while ensuring that all aspects of its business, from cultivation through processing and manufacturing, comply with European Union GMP regulations necessary for international trade.
While laying the groundwork for an extensive European export operation, the company is certainly not foregoing the burgeoning domestic opportunity in Israel. The country, as of late 2019, had about 46,000 registered patients. Isracann expects this number to roughly double by the end of 2020, by which time the company hopes to be harvesting and distributing products.
The company recently announced a joint venture agreement with two near-term farm operations in the Sharon Plain region of Israel. The IMC-compliant farms operate under preliminary cannabis nursery and cultivation licenses and are preparing to commence planting within weeks with 160,000 sq. ft. of greenhouse canopy on two million sq. ft. of private land. The move paves the way for the company to ramp up sales faster than it expected and could help drive near- and long-term shareholder value.
In a recent two-part interview with CFN Media, Isracann Biosciences CEO Darryl Jones outlined the company’s strategy, assets, and partnerships. He talked about some of the advantages inherent in the Israeli market (ideal climate for cultivation, regulatory environment, advanced research, widespread domestic use, proximity to Europe, etc.).
CEO Video Interview #1
Click Below to View Video Interview #1: Isracann Biosciences CEO Darryl Jones
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Click Below to View Video Interview Part #2: Isracann Biosciences CEO Darryl Jones
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The very first medical cannabis shipment from Israel to the UK marks a new era in the promising Israeli cannabis industry. With the country’s government backing research and development efforts, as well as implementing rules to encourage growth of the industry both domestically and internationally, Israel has cemented its place as a leader for the global cannabis market. The year ahead promises to be pivotal for both the industry in general, and for Isracann Biosciences in particular as the company executes its vision of a comprehensive farm-to-consumer cannabis company. Keep an eye out as the plan unfolds.
Click here to read the full article: https://bit.ly/2QNGwA1
About CFN Media
CFN Enterprises Inc. (OTCQB: CNFN) is the owner and operator of CFN Media, the leading agency and digital financial media network dedicated to the legal cannabis industry.
For Visitors and Viewers
CFN Media’s Cannabis Financial Network (CannabisFN.com) is the destination for savvy investors and business people profiting from the worldwide cannabis industry. Viewers will see breaking news, exclusive content and original programming involving the people, companies and investments shaping the industry.
For Cannabis Businesses & Companies
CFN Media is a leading agency and financial media network dedicated to the cannabis industry. We help private, pre-public and public cannabis companies in the US and Canada attract capital, investors and media attention.
Our powerful digital media and distribution platform conveys a company’s message and value proposition directly to accredited and retail investors and national media active in the North American cannabis markets.
Since 2013, CFN Media has enabled the world’s preeminent cannabis companies to thrive in the capital and public markets.
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The above article is sponsored content. CannabisFN.com and CFN Media, have been hired to create awareness. Please follow the link below to view our full disclosure outlining our compensation: http://www.cannabisfn.com/legal-disclaimer/
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/53879
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