Little Green Pharma signs three-year purchase agreement with Berlin-based DEMECAN for the sale and export of up to 1,000kg of dried flower or 48,000 units of medicinal cannabis oil product, or any combination thereof, per annumDEMECAN is the only German company that covers the entire medicinal cannabis production chain; from cultivation to processing and manufacturing, through to distribution to pharmaciesLGP anticipates being one of the first few companies to export full spectrum medicinal cannabis oil products into GermanyThe German market is the largest medicinal cannabis market in the European Union with an estimated 240,000 prescriptions to the end of 20191It is expected Germany will remain a favourable market for the import of medicinal cannabis oil products due to insufficient domestic supply as a result of significant delays in its domestic cultivation tendering processMONTREAL, Feb. 27, 2020 (GLOBE NEWSWIRE) — ELIXXER, LTD. (TSX-V: ELXR. OTCQB: ELIXF) (“ELXR” or the “Company”) is pleased to announce that Little Green Pharma (ASX: LGP) has signed a binding three-year purchase agreement (“Agreement”) for the sale, export, and distribution of LGP Classic medicinal cannabis oils and LGP-cultivated dried cannabis flower to Berlin-based Deutsche Medizinalcannabis GmbH (“DEMECAN”).DEMECAN is the only German company that covers the entire medicinal cannabis production chain; from cultivation to processing and manufacturing, through to distribution to pharmacies. DEMECAN is currently the only producer of medicinal cannabis in Germany and is a strategically important partner for LGP.The Agreement does not require DEMECAN to purchase a minimum volume. Subject to the conditions precedent and material terms of the Agreement, as set out below, LGP will sell and export to DEMECAN up to 1,000kg of LGP-cultivated dried cannabis flower or 48,000 units of LGP Classic medicinal cannabis oil product, or any combination thereof, per annum (the “Annual Quota”). The Agreement has a three-year term, which will commence on the first commercial shipment of LGP medicinal cannabis products to Germany, which is expected to take place in the second half of 2020.The Agreement secures pricing that is a premium to LGP’s medicinal cannabis oil products sold in Australia.Commenting on the Agreement, LGP Managing Director Fleta Solomon, said: “We are thrilled to enter into a partnership with DEMECAN. As the only company in Germany to cover the entire production chain for medicinal cannabis, DEMECAN is a leading supplier of medicinal cannabis in Germany.“Germany is home to the largest population in the European Union and a rapidly growing medicinal cannabis industry.“However, patient access to medicinal cannabis in Germany has been limited to date, with inadequate domestic production that is unlikely to produce sufficient product to satisfy the German market in the near term.“The Agreement with DEMECAN allows LGP to expand its sales and distribution footprint in Germany to meet the growing demand for medicinal cannabis.”DEMECAN Executive Director, Dr. Cornelius Maurer commented:“In this fast-growing industry, it is crucial to have established and reliable partners like LGP, who share our focus on patient well-being and positioning as a high-quality pharmaceutical producer and wholesaler.”Material terms of the AgreementThe Agreement sets out product specifications, quality requirements, and agreed unit pricing of medicinal cannabis oil and dried flower product that LGP will sell and export to DEMECAN.The Agreement is subject to certain conditions precedent in respect of each of the medicinal cannabis oil and dried flower product categories, including LGP obtaining all required approvals to export its products including any German-specific approval requirements; the parties entering into a GMP Quality Agreement; and DEMECAN obtaining all approvals required to import such products into Germany.Under the Agreement:There is no minimum order quantity and LGP has no obligation to supply any product until DEMECAN places a purchase order that is confirmed by LGP; andIf DEMECAN fails to order, or LGP does not accept orders comprising, at least 50% of the Quarterly Quota (being 25% of the Annual Quota) for two consecutive quarters, then the other party has the right to terminate the Agreement without liability to either party.German medicinal cannabis market overviewGermany represents a significant opportunity for LGP as the largest medicinal cannabis market in Europe, estimated to be worth €7.7 billion (A$12.5 billion) by 2028 . The number of prescriptions for medicinal cannabis in Germany is growing rapidly; there were 95,000 prescriptions at the end of 2018 and more than 240,000 prescriptions were expected by the end of 2019.It is expected Germany will remain a favourable market for the import of medicinal cannabis oil products due to insufficient domestic supply as a result of significant delays in its domestic cultivation tendering process, with the first licences only awarded in 2019 .About DEMECANDEMECAN is the only German company that covers the entire production chain for medicinal cannabis; from cultivation to processing and manufacturing, through to distribution to pharmacies. DEMECAN was founded in 2017 to guarantee German patients access to high quality medicinal cannabis. In May 2019, the Germany Federal Institute for Drugs and Medical Devices (“BfArM”) awarded DEMECAN the first licence to grow medicinal cannabis. From 2020, DEMECAN will supply the Federal Republic of Germany with medicinal cannabis. DEMECAN is based in Berlin and operates a facility near Dresden for the cultivation and processing of medicinal cannabis. DEMECAN also imports medicinal cannabis into Germany as a pharmaceutical wholesaler.About Elixxer Ltd. (www.Elixxer.com)ELXR Ltd. is a Canadian public company listed on the TSX Venture Exchange (TSXV: ELXR) and the US OTC-QB exchange (OTCQB: ELIXF).Through its partners ELXR presently has significant interests in Australia, Jamaica, Switzerland, Italy and Canada.For further information please contact:President, John McMullen, +1-416-803-0698, firstname.lastname@example.orgCaution Regarding Press ReleasesNeither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.Notice Regarding Forward Looking StatementsThis press release may contain forward-looking statements with respect to Elixxer and its operations, strategy, investments, financial performance and condition. These statements can generally be identified by use of forward-looking words such as “may”, “will”, “expect”, “estimate”, “anticipate”, “intends”, “believe” or “continue” or the negative thereof or similar variations. The actual results and performance of Elixxer, including completion of the Loan and any future investment or acquisition, could differ materially from those expressed or implied by such statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Some important factors that could cause actual results to differ materially from expectations include, among other things, general economic and market factors, competition, government regulation and the factors described under “Risk Factors and Risk Management” in Elixxer’s most recent Management’s Discussion and Analysis filed on SEDAR (www.sedar.com). The cautionary statements qualify all forward-looking statements attributable to Elixxer and persons acting on its behalf. Unless otherwise stated, all forward-looking statements speak only as of the date of this press release, and Elixxer has no obligation to update such statements, except to the extent required by applicable securities laws.
Innocan’s Over-The-Counter Pain Relief Spray Receives FDA’s Technical Validation for Marketing in the USA
Herzliya, Israel and Calgary, Alberta–(Newsfile Corp. – July 13, 2020) – Innocan Pharma Corporation (CSE: INNO) (FSE: IP4) (the “Company” or “Innocan“), is pleased to announce that it has received notice from the FDA that Innocan’s over-the-counter Relief & Go Pain Relief spray product has successfully received technical validation and approval to commence marketing in the USA. Innocan’s pain relief formulation contains a combination of Magnesium oil, Methyl salicylate, Menthol and CBD. The Relief & GO Pain Relief spray is designed to target pain-related muscle and provide relief for joint pain. The unique formulation is administered with a simple dose of spray, roll-on or lotion.
To view an enhanced version of Figure 1, please visit:
“We are excited to receive the approval from the FDA to market our flagship pain relief product in the USA” Iris Bincovich, co-founder and CEO of Innocan states and she continues: “This represents the Company’s ability to develop and practice breakthrough technologies to create new CBD based products for the growing pain relief market.”
According to the American Academy of Pain Medicine chronic pain affects approximately 1.5 billion people worldwide, and research by Prescient & Strategic Intelligence reported that “Chronic Pain Treatment Market to Reach US $105.9 Billion by 2024”.
The Company, through its wholly owned subsidiary, Innocan Pharma Ltd. (“Innocan Pharma Israel”), is a pharmaceutical tech company that focuses on the development of several drug delivery platforms combining cannabidiol (“CBD”). InnoCan and Ramot at Tel Aviv University are collaborating on a new, revolutionary exosome-based technology that targets both central nervous system (CNS) indications and the Covid-19 Corona Virus. CBD-Loaded Exosomes hold the potential to provide a highly synergistic effect of anti-inflammatory properties and help in the recovery of infected lung cells. This product, which is expected to be administrated by inhalation, will be tested against a variety of lung infections.
The Company signed on a worldwide exclusive license agreement with Yissum, the commercial arm of the Hebrew University of Jerusalem to develop CBD drug delivery platform based on a unique-controlled release Liposome to be administrated by Injection. The company plans, together with Prof. Berenholtz, Head of the Laboratory of Membrane and Liposome Research of the Hebrew University to test the Liposome platform on several potential indications. The company is also working on a dermal product integrating CBD with other pharmaceutical ingredients as well as the development and sale of CBD-integrated pharmaceuticals, including, but not limited to, topical treatments for relief of psoriasis symptoms as well as the treatment of muscle pain and rheumatic pain. The founders and officers of InnoCan have commercially successful track records in the pharmaceutical and technology sectors in Israel and globally.
For further information, please contact:
For InnoCan Pharma Corporation:
Iris Bincovich, CEO
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Caution regarding forward-looking information
Certain information set forth in this news release, including, without limitation, the effectiveness and safety of the Company’s products, , information regarding the markets, requisite regulatory approvals and the anticipated timing for market entry, is forward-looking information within the meaning of applicable securities laws. By its nature, forward-looking information is subject to numerous risks and uncertainties, some of which are beyond InnoCan’s control. The forward-looking information contained in this news release is based on certain key expectations and assumptions made by InnoCan, including expectations and assumptions concerning the anticipated benefits of the products, satisfaction of regulatory requirements in various jurisdictions and satisfactory completion of requisite production and distribution arrangements. Forward-looking information is subject to various risks and uncertainties which could cause actual results and experience to differ materially from the anticipated results or expectations expressed in this news release. The key risks and uncertainties include but are not limited to: general global and local (national) economic, market and business conditions; governmental and regulatory requirements and actions by governmental authorities; and relationships with suppliers, manufacturers, customers, business partners and competitors. There are also risks that are inherent in the nature of product distribution, including import / export matters and the failure to obtain any required regulatory and other approvals (or to do so in a timely manner) and availability in each market of product inputs and finished products. The anticipated timeline for entry to markets may change for a number of reasons, including the inability to secure necessary regulatory requirements, or the need for additional time to conclude and/or satisfy the manufacturing and distribution arrangements. As a result of the foregoing, readers should not place undue reliance on the forward-looking information contained in this news release concerning the timing of launch of product distribution. A comprehensive discussion of other risks that impact InnoCan can also be found in InnoCan’s public reports and filings which are available under InnoCan’s profile at www.sedar.com.
Readers are cautioned that undue reliance should not be placed on forward-looking information as actual results may vary materially from the forward-looking information. InnoCan Pharma does not undertake to update, correct or revise any forward-looking information as a result of any new information, future events or otherwise, except as may be required by applicable law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/59564
TransCanna Receives State-Wide Operating License
Now owns largest known fully licensed cannabis facilities in California
Vancouver, British Columbia–(Newsfile Corp. – July 11, 2020) – TransCanna Holdings Inc. (CSE: TCAN) (FSE: XETR) (“TransCanna” or the “Company”) is pleased to announce that its wholly-owned subsidiary, Lyfted Farms, Inc. (“Lyfted”), was successfully granted a Type 11 ‘Distributor’ license by the California Bureau of Cannabis Control for its 196,000 square foot Daly Avenue Facility.
This long-anticipated milestone marks the completion of all state and local licenses required for the Company to begin operations at its flagship cannabis processing facility in Modesto, California.
This state-wide license represents Lyfted’s most major milestone to date in meeting the distribution and production capabilities needed to meet the escalating demand for its products in the world’s largest cannabis market. The license was granted after three levels of approvals were achieved at the county and state level and will allow for the commencement of packaging, transport, wholesale, pre-roll assembly, labeling, testing, contract packaging (white-labeling), and of course distribution of cannabis products to all licensed retailers across the state.
“This is the most exciting development in our history and what everyone has been working towards,” says Bob Blink, TransCanna CEO. “Being granted a license at the state level is a long, costly, and complex process, and one that requires navigating and understanding a complex regulatory process. It’s a significant barrier to entry for most companies, so this marks a huge turning point for us. We are delighted to have achieved our biggest goal to date and excited to be able to better serve the demands of the California cannabis market.”
The Company is currently completing upgrades to the flagship Daly Facility. Commercial cannabis activities are expected to commence at Daly August 2020, via the deployment of a 16,000 square foot cannabis distribution center (Phase 1). To date, Lyfted has been able to process in excess of $1M USD/month in wholesale cannabis transactions out of a distribution space of 1,000 square feet from its Jerusalem Court facility. These upgrades will mean the Company now has 16,000 square feet of distribution space at its disposal as of August 2020.
“This exponential increase in capacity is incredibly exciting for investors,” says Blink, adding the Company has been focused on building out its wholesale and distribution business while awaiting its final license. “Having processed a million dollars’ worth of product out of a single one-thousand square foot facility, we are anticipating significant growth now that our 196,000 square foot operation is online.”
Lyfted anticipates hiring up to 250 full-time employees at the flagship site with a strong focus placed on social equity and a diverse workforce that is reflective of the communities it serves and operates in.
About TransCanna Holdings Inc.
TransCanna Holdings Inc. is a California based, Canadian listed company building cannabis-focused brands for the California lifestyle, through its wholly-owned California subsidiaries.
On behalf of the Board of Directors
Bob Blink, CEO
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws or forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs regarding future events of management of the Company. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or “occur”. This information and these statements, referred to herein as “forward‐looking statements”, are not historical facts, are made as of the date of this news release and include without limitation estimates and forecasts and statements as to management’s expectations for growth and the commencement of operations of the Company’s Daly facility.
The forward-looking information in this press release is based upon certain assumptions that management considers reasonable in the circumstances, including that operations will commence at the Company’s Daly facility in Modesto, California, as and when expected.
These forward‐looking statements involve numerous known and unknown risks, uncertainties and other factors that may cause actual results, events or developments to be materially from any future results, events or developments expressed or implied by such forward-looking statements. Risks and uncertainties associated with the forward-looking information in this news release include, among others, dependence on obtaining and maintaining regulatory approvals, including state, local or other licenses and any inability to obtain all necessary governmental approvals licenses and permits to complete upgrades to its Daly facility in a timely manner; engaging in activities which currently are illegal under U.S. federal law and the uncertainty of existing protection from U.S. federal or other prosecution; regulatory or political change such as changes in applicable laws and regulations, including U.S. state-law legalization, particularly in California, due to inconsistent public opinion, perception of the medical-use and adult-use marijuana industry, bureaucratic delays or inefficiencies or any other reasons; any other factors or developments which may hinder market growth;; reliance on management; and the effect of capital market conditions and other factors (including those related to the COVID-19 pandemic) on capital availability; competition, including from more established or better financed competitors; and the need to secure and maintain corporate alliances and partnerships, including with customers and suppliers.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look, except in accordance with applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/59555
PURA Cannabis Cultivation Spinoff and Dividend Breaking News Update
Dallas, Texas–(Newsfile Corp. – July 10, 2020) – Puration, Inc. (OTC Pink: PURA) now has the following update to the press release published this morning about the management buyout of a separate public company that will in turn purchase PURA’s cannabis cultivation spinoff in exchange for common stock scheduled to close today. The management buyout has been executed by all parties. The purchase is scheduled to be funded on Monday. The management/owner team plans to make a formal announcement on Tuesday, July 14, 2020 (the formal announcement was previously expected on Monday, but to ensure funding is complete first, the announcement is now scheduled for the next day).
PURA – Logo
To view an enhanced version of this graphic, please visit:
The common stock issued in exchange for the PURA spinoff is intended to be issued to PURA shareholders in a dividend distribution.
NCM Biotech, a subsidiary of Kali-Extracts (OTC Pink: KALY) will also be acquired and merged with PURA’s cannabis spinoff.
The management team purchasing control of the target public company is expected to confirm the planned acquisitions of PURA’s cannabis cultivation company and KALY’s NCM Biotech in the announcement now scheduled for Tuesday, July 14, 2020.
PURA’s cannabis cultivation operation is thriving. The operation has recently purchased and relocated to a new property from its former leased property. Texas lawmakers have recently implemented hemp friendly farming regulations and in so doing, universities within the State of Texas have initiated hemp farming research programs. PURA’s cannabis cultivation spinoff has initiated a number of joint research applications with Texas universities.
NCM Biotech is focused on medical research and the development of treatments derived from its patented cannabis extraction process. See a recent research report on CBD extracts derived from NCM Biotech’s patented extraction process: Journal of Cannabis Research.
For more information on Puration, visit http://www.purationinc.com
This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company’s current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies’ contracts, the companies’ liquidity position, the companies’ ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur. These statements have not been evaluated by the Food and Drug Administration. These products are not intended to diagnose, treat, cure, or prevent any disease.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/59533
Cannabis4 weeks ago
RETRANSMISSION: Hemp, Inc. Announces that Its First Ever Great American Hempathon is in Full Swing
Cannabis4 weeks ago
Banksy Collection Becomes Permanent Installation at Toronto’s Newest Cannabis Store
Cannabis4 weeks ago
Hemp, Inc. Announces Newly Enhanced King of Hemp Website
Cannabis4 weeks ago
XPhyto Therapeutics Corp.: Infectious Disease Oral Screening Test Advancement
Cannabis4 weeks ago
MustGrow Imports Bio-Pesticide into Colombia for Testing on “Panama Disease”: Existential Threat to Bananas
Cannabis3 weeks ago
CYIOS Corp’s Wholly Owned Subsidiary Choice Wellness Officially Launches New Online Store for Its DR’s CHOICE CBD and “24” Hand Sanitizer Brands
Cannabis3 weeks ago
MediPharm Labs Australia Enters Into New Supply Agreement With VIVO Cannabis and Prepares to Commence Sales
Cannabis3 weeks ago
These Psychedelic Drugs May Be Key to Revolutionizing Weight Loss Treatment