Secures Strategic Piece of Value-Chain for Continued European Expansion
Toronto, Ontario–(Newsfile Corp. – July 7, 2020) – EuroLife Brands (CSE: EURO) (FSE: 3CMA) (OTC Pink: EURPF) (“EuroLife” or the “Company”), a vertically integrated enterprise focused on the pan-European health and wellness sector today announced that, further to the news release of November 22, 2019, it is proceeding with the close of an initial equity ownership position (the “Transaction“) in Farmhus GmbH, a state-of-the-art outdoor hemp facility located near Dresden, Germany.
Farmhus GmbH boasts the following list of assets that collectively comprise one of the largest fully operational outdoor hemp cultivation projects in Europe:
- More than 500 hectares (1,235 acres) of prime agricultural land available for hemp cultivation near Dresden, Germany;
- Scalability via option agreement to approximately 2,000 hectares (4,900 acres);
- Approximately 110,000 kilograms of existing hemp biomass currently in storage inventory that has been harvested and processed from the latest harvest cycle;
- Existing off-take agreements and purchase orders;
- Specialized harvesting machinery capable of efficient commercial harvest at a rate of 50 hectares (123 acres) per day;
- Specialized cleaning machinery utilized to extract and separate seeds from stems using a mechanically induced vacuum process with negative pressure;
- Specialized drying machinery;
- Drying rooms and warehouse space to be utilized for excess capacity, storage, cleaning and drying.
According to the Farmhus GmbH 2020 two-year business plan, the outdoor hemp operation is expected to generate more than €3 million from the sale of hemp oil, cosmetics, and pet food in its first season of operation. The operation is projected to have 200 hectares of hemp under cultivation and generate margins related to the sale of retail products in the range of 30-40%.
After an unforeseen delay due to the COVID pandemic, EuroLife is pleased to have completed its acquisition for the first equity tranche of ownership, representing an additional forward step in EuroLife’s European Business Model for end-to-end supply chain ownership. The complex will provide cost efficient raw product supply towards EuroLife’s pending acquisition of the HANF Hemp Retail Stores in Germany and Luxembourg. A total of seven (7) retail store fronts will have the opportunity to benefit from EuroLife’s umbrella ownership for direct-to-supply ownership of raw materials.
“Our goal to buildout a vertically integrated enterprise in the health of wellness sector took a monumental and logistically significant step forward today. With the investment into a hemp supply chain operation run by the experienced team at Farmhus, EuroLife gains a stake in a key physical asset in Europe for the growing health and wellness markets,” said Shawn Moniz, CEO of EuroLife. “EuroLife now has an equity ownership of a highly tactical asset located in Germany. We will leverage our position to ensure a supply of affordable and consistent quality raw materials for many hemp-based products sold online and through potentially owned or related physical retail locations. We look forward to work alongside the other notable stakeholders of the project in order to establish EuroLife’s leadership position in the European health and wellness business while capturing additional value-add downstream opportunities for the Company.”
In consideration for an initial five (5) per-cent ownership stake in Farmhus GmbH, EuroLife shall issue 500,000 common shares (the “Shares“) at a deemed price of $0.50 per Share for a deemed value of $250,000, and make payment of $35,000 in cash. EuroLife maintains the right to increase its ownership in Farmhus GmbH up to twenty (20) percent. Closing of the Transaction is subject to customary closing conditions.
Strategy and Downstream Value Creation
This operation will serve as a key strategic asset for EuroLife as it continues executing on its roadmap of creating a vertically integrated and diversified enterprise operating within the EU. Through sustained strategic deployment of capital and unification of synergistic assets EuroLife aims to become amongst the largest health and wellness companies in Europe.
On April 20, 2020 EuroLife announced it had entered into Letter of Intent (the “LOI”) to acquire 100% of the issued and outstanding securities of CWE, a Canadian Corporation, which owns and operates six retail locations in Germany and one in Luxembourg. CWE is seeking to become one of the largest hemp retail and online retailers, building controlled access to Central European customers by opening retail locations in Germany, Austria and Luxembourg.
HANF Hemp promotes an organic, health conscious lifestyle based mainly on hemp products. Physical store locations are known for their clean and safe profile, with friendly knowledgeable staff and an open and drug free atmosphere emphasizing fairness towards producers, suppliers and customers. HANF takes a holistic, comprehensive approach to the universe of Health and Wellness, offering a range of over 300+ products from the world of hemp including oils, edibles and cosmetics.
European Hemp Market
Boasting a population of over 700 Million citizens, with over 500 Million in the EU alone, the European opportunity afforded within the hemp and cannabidiol marketplace is growing at a substantial pace. EuroLife is of the opinion that as the industry matures and normalization takes hold, organizations equipped with low cost production combined with tactical downstream capability will prevail.
Currently there is a robust hemp market in the EU, with production in most member nations. In 2018, European cultivation grew by over 40% from 2015 to more than 40,000 hectares of production. Hemp production is centered in France, the Netherlands, Lithuania, and Romania, with France being largest producer, accounting for almost 50% of Europe’s total production.
The demand for hemp continues to grow fueled by the increasingly diverse use of this crop including the production of cannabidiol (CBD), which can be extracted for use in an array of food supplements, pharmaceuticals and cosmetics. The legal cannabis market in Europe remains strictly medical, however the consumption of hemp-derived CBD infused products for recreational purposes is legally permitted across much of the continent.
With health and wellness taking hold of the global market the opportunity is staggering. It is suggested that the CBD products market could account for over 0.15% of the health and wellness market value by 2028. According to the latest research by the Global Wellness Institute, the worldwide wellness market grew 12.9% from $3.72 trillion in 2017 to $4.2 trillion in 2018. The European CBD market alone is projected to be worth at least €1.5 billion by 2023.
About Farmhus GmbH
Farmhus is the owner and operator of a state-of-the-art industrial hemp cultivation operation located near Dresden, Germany. Our vision is to revitalize the hemp markets and promote the versatile use of hemp from a single source. It processes the entire plant to allow for as many areas product applications as possible. Farmhus follows sustainable cultivation and holistic utilization of hemp, through environmentally friendly operation paving the way for future generations.
Farmhus guarantees cannabinoid-rich products in the food and pharmaceutical sector from certified cultivation with the highest quality. It also supplys high-quality fibers from hemp for the manufacture of textiles and materials making the region the origin of clothing, upholstery and plastic substitutes the new reality of German and European industry. For more information visit: www.farmhus.de.
About EuroLife Brands Inc.
EuroLife Brands (CSE: EURO) (FSE: 3CMA) (OTC Pink: EURPF) is a leading global markets cannabis brand empowering the medical, recreational and CPG cannabis industry worldwide through a data-driven CBD marketplace supported by exclusive and unbiased physician-backed cannabis education and detailed consumer analytics.
For additional information:
No stock exchange or securities regulatory authority has reviewed or accepted responsibility for the adequacy or accuracy of this release.
Except 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 EuroLife Brands 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. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company‘s Management‘s Discussion and Analysis and other disclosure filings with Canadian securities regulators, which are posted on www.sedar.com.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/59235
PURA 1-for-1 Shareholder Dividend of PAOG Shares on Track
Dallas, Texas–(Newsfile Corp. – October 30, 2020) – PAO Group, Inc. (OTC Pink: PAOG) and Puration, Inc. (OTC: Pink: PURA) today released an update on the process underway for PAOG to issue PAOG shares to PURA shareholders in a dividend distribution.
PAOG acquired a cannabis cultivation operation from PURA earlier this year in a transaction that includes issuing PAOG shares to PURA shareholders. The target distribution ratio calls for PURA shareholders receiving one share of PAOG for every one share of PURA owned.
PAOG has executed two acquisitions in recent months and managed to ramp up and organize acquired cannabis pharmaceutical research assets as necessary to execute a contract prerequisite to developing its acquired cannabis pharmaceutical research assets into an FDA approved drug. PAOG admits the dividend distribution process has lagged behind the acquisition and pharmaceutical development contract efforts. Last week, after completing the pharmaceutical development contract, PAOG management and PURA management committed to rapidly completing the dividend issuance.
Since initiating the joint rapid dividend completion effort, PAOG has filed to redomicile the company to Wyoming and increase the authorized number of shares in order to have the necessary inventory to execute the dividend distribution. PAOG has also engaged the services of the company’s transfer agent to manage the dividend distribution of PAOG stock to PURA shareholders. Once the move to Wyoming is complete, PAOG will file with the necessary financial regulatory authority to finalize the dividend details. PAOG anticipates a definitive dividend distribution announcement will be forthcoming within the next two weeks.
PAOG is excited to make PURA shareholders also PAOG shareholders.
The developing PAOG and PURA partnership includes PAOG participating in PURA’s new hemp lifestyle brand strategy, called Farmersville Brands and headquartered on a 72-acre property currently under contract for acquisition by PURA. In conjunction with PAOG’s newly acquired cultivation business, PAOG plans to build a pharmaceutical grade, indoor hemp cultivation operation and lab on PURA’s Farmersville property.
Look for more information coming soon from both PURA and PAOG.
For more information on PAO Group, visit www.paogroupinc.com.
For more information on Puration, visit 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.
PAO Group, Inc.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/67197
Early Warning Report in Connection with the Sale of 5,500,000 Subordinate Voting Shares of Green Thumb Industries Inc.
Chicago, Illinois–(Newsfile Corp. – October 30, 2020) – On October 29, 2020, RCP23, LLC (the “Seller”), a private investment holding company controlled by Benjamin Kovler, CEO and Chairman of Green Thumb Industries Inc. (CSE: GTII) (OTCQX: GTBIF) (the “Issuer”), sold 5,500,000 Subordinate Voting Shares of the Issuer (the “Transferred Shares”) to a third-party qualified institutional buyer at a purchase price of C$19.25 per share in a private transaction. Prior to the sale, at Seller’s request, the Issuer converted 54,805 Super Voting Shares and 49,448 Multiple Voting Shares of the Issuer previously held by the Seller into an aggregate 10,425,300 Subordinate Voting Shares per the terms of the Issuer’s Articles of Incorporation, as amended.
Following the sale, Mr. Kovler, together with his joint actors, holds beneficial ownership or control or direction over 183,254 Super Voting Shares, which represent 56.5% of the class, 0 Multiple Voting Shares, and 5,068,016 Subordinate Voting Shares, which represent less than 2.9% of the class. Each Super Voting Share carries 1,000 votes and is convertible into one Multiple Voting Share and each Multiple Voting Share carries 100 votes and is convertible into 100 Subordinate Voting Shares (each of which carries one vote).
For further information, please contact Investor Relations, Green Thumb Industries Inc., InvestorRelations@GTIgrows.com, Phone: 310-622-8257.
This press release is issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which requires an early warning report to be filed on SEDAR (www.sedar.com) containing additional information with respect to the foregoing matters. A copy of this report may be obtained by contacting Investor Relations, Green Thumb Industries Inc., InvestorRelations@GTIgrows.com, Phone: 310-622-8257.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/67179
Special Guests and Lovers of Psychedelics Are “Coming Out of the Chemical Closet” to Celebrate New Book about MDMA — Register For Virtual Book Launch
New York, New York–(Newsfile Corp. – October 30, 2020) – Charley Wininger and his publisher Inner Traditions are welcoming the arrival of his book “Listening to Ecstasy: The Transformative Power of MDMA” with a free virtual night of storytelling on Nov 13th, 7:00 PM (Eastern Time). Members of the press are invited to join this unique event. To register click link HERE.
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Charley will be joined by several psychedelic luminaries, and hosted by comedian Sarah Rose Siskind. They will share intimate, touching and humorous stories about a time their lives were transformed by the often misunderstood underground party drug, MDMA.
In his book, “Listening to Ecstasy” Charley reveals how MDMA has enhanced his marriage both erotically and emotionally, and describes how pleasure, fun, and joy can be profound bonding and transformative experiences.
To view an enhanced version of this graphic, please visit:
“This is also the story of how my wife and I entered a forbidden world of drug users, and found it to be enchanted. MDMA opened up our lives to new friends, fun, and freedom. It’s also helped us navigate the aging process as we transitioned from middle age into our sixties and seventies.” – Charley Wininger
Wininger’s writing and personal narrative shows how MDMA can be a tool for healing and connection. This is why this particular psychedelic compound is being studied to treat Post-Traumatic Stress Disorder (PTSD) with Phase 3, peer-reviewed trials taking place at research sites in the U.S., Canada, and Israel. (Multidisciplinary Association for Psychedelic Studies, 2020). At the current pace, MDMA will be a prescription medication in the U.S. by 2023.
In a recent Forbes article, Charley referred to MDMA as “super glue for relationships“. He and his wife are open to giving candid interviews about how MDMA helps to strengthen their connection.“It can help you connect with yourself, with your loved ones and with the world at large, [which] is especially important now when we live in a time of isolation and fear.” – Charley Wininger (Forbes)
Members of the media
- Check out the Charley Wininger Media Kit for quotes and downloadable images
- Book interview with Charley before launch (Nov. 13th)
- Request media review copy of Listening to Ecstasy
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/67182
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