Toronto, Ontario–(Newsfile Corp. – July 15, 2020) – Red Light Holland Corp. (CSE: TRIP) (FSE:4YX) (“Red Light Holland” or the “Company“), an Ontario-based corporation positioning itself to engage in the production, growth and sale of a premium brand of magic truffles to the legal, recreational market within the Netherlands, is pleased to announce that it has entered into a securities exchange agreement dated July 14, 2020 (the “Securities Exchange Agreement“) with PharmaDrug Inc. (CSE: BUZZ) (“PharmaDrug“).
Under the terms of the Securities Exchange Agreement, PharmaDrug has agreed to issue 9,333,333 units to the Company (the “PharmaDrug SEA Units“) at deemed price of $0.075 per unit, in consideration for the issuance by Red Light Holland of 4,242,424 RLH Units (as defined below) at a deemed price of $0.165 per unit to PharmaDrug. Each PharmaDrug SEA Unit consists of (i) one common share of PharmaDrug (a “PharmaDrug Share“), (ii) 0.9 of a PharmaDrug common share purchase warrant, each whole warrant entitling the holder thereof to acquire one common share of PharmaDrug at a price of $0.13 for a period of 48 months (each whole warrant, a “Class A PharmaDrug Warrant“), and (iii) 0.1 of a PharmaDrug common share purchase warrant, each whole warrant entitling the holder thereof to acquire one common share of PharmaDrug at a price of $0.08 for a period of 48 months (each whole warrant, a “Class B PharmaDrug Warrant“). In addition, the Company will make a cash investment for $200,000 of units of PharmaDrug (the “PharmaDrug Subscription Units“) at a price of $0.075 per unit, each PharmaDrug Subscription Unit consisting of (i) one PharmaDrug Share, and (ii) one Class B PharmaDrug Warrant.
Each RLH Unit will consist of one common share in the capital of the Company (a “RLH Share“) and one common share purchase warrant (a “RLH Warrant“) of the Company. Each RLH Warrant entitles the holder to purchase one additional RLH Share at an exercise price of $0.26 at any time for a period of 48 months, subject to an accelerated expiry option. If, following the date that is four months and one day following the date hereof, the volume weighted average trading price of the RLH Shares on the Canadian Securities Exchange (the “CSE“) for any 10 consecutive trading days equals or exceeds $0.50, the Company may, upon providing written notice to the holders of RLH Warrants, accelerate the expiry date of the RLH Warrants to the date that is 30 days following the date of such written notice.
“We are very pleased to be making a strategic investment into PharmaDrug. It only makes sense, as we would want to house our microdose products in their planned Smart Shops anyway. This expedites our partnership and now we’re pretty much guaranteed prime shelf space when they arrive, as both of our companies shine a light on the Magic Truffles market, in the Netherlands. We look forward to educating and eventually selling to the legal recreational market together,” said Todd Shapiro, the Company’s Chief Executive Officer and Director.
Closing of the transactions contemplated herein is expected to occur on or about July 16, 2020, and is subject to, among other things, the satisfaction of customary closing conditions for transactions of this nature.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws.
About Red Light Holland Corp.
The Company is an Ontario-based corporation positioning itself to engage in the production, growth and sale (through existing Smart Shops operators and an advanced e-commerce platform) of a premium brand of magic truffles to the legal, recreational market within the Netherlands, in accordance with the highest standards, in compliance with all applicable laws.
About PharmaDrug Inc.
PharmaDrug Inc. is building an international controlled substance and natural medicine company with a focus on Europe. The Company owns 80% of PharmaDrug GmbH, a German medical cannabis distributor, with a Schedule I European Union narcotics license allowing for the importation and distribution of medical cannabis to pharmacies in Germany and throughout the EU. The Company also owns 100% of Super Smart, an early-stage retail company focused on consolidating the fragmented Dutch smartshop market. Smartshops are retail establishments in The Netherlands that specialize in the sale of psychoactive substances including psychedelic truffles.
For additional information on the Company:
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expect”, “potential”, “believe”, “intend” or the negative of these terms and similar expressions. Forward-looking statements necessarily involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Readers are further cautioned that the assumptions used in the preparation of such forward-looking statements (including, but not limited to, the assumption that (i) the Company will be able to execute on its business plan and/or enter into the medical psychedelics market as proposed, (ii) the Company will receive one or multiple licenses, permits, and authorizations from time to time necessary to execute on its business plan and/or enter into the medical psychedelics market, (iii) the Company’s financial condition and development plans do not change as a result of unforeseen events, (iv) there will continue to be a demand, and market opportunity, for the Company’s product offerings, (v) the Company will be able to establish, preserve and develop its brand, (vi) the Company’s partnership with Pharmadrug will continue and its products will be sold in their retail stores, and (vii) the Company will be successful in attracting and retaining required personnel), although considered reasonable by management of the Company at the time of preparation, may prove to be imprecise and result in actual results differing materially from those anticipated, and as such, undue reliance should not be placed on forward-looking statements. The forward-looking statements included in this news release are made as of the date of this news release and the Company does not undertake an obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless required by applicable securities laws. Forward-looking statements, forward-looking financial information and other metrics presented herein are not intended as guidance or projections for the periods referenced herein or any future periods, and in particular, past performance is not an indicator of future results and the results of the Company in this press release may not be indicative of, and are not an estimate, forecast or projection of the Company’s future results. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
Not for distribution to United States newswire services or for dissemination in the United States.
Not for distribution to United States newswire services or for release publication, distribution or dissemination directly, or indirectly, in whole or in part, in or into the United States.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/59838
Sixth Wave Continues Phase 2 Rapid COVID Test Development and Receives Funding from Nova Scotia COVID-19 Response Council
Halifax, Nova Scotia–(Newsfile Corp. – October 27, 2020) – Sixth Wave Innovations Inc. (CSE: SIXW) (OTCQB: ATURF) (FSE: AHUH) (“Sixth Wave”, “SIXW” or the “Company”) is pleased to announce that it has received a $250,000 contribution from the Nova Scotia COVID-19 Response Council (“NSCRC”) for the development of its proposed AMIPs™ technology for the rapid detection of viruses such as SARS-CoV-2 (“SARS-CoV-2” or the “Virus“). AMIPs™ is based on Sixth Wave’s patented and patent-pending molecularly imprinted polymer systems.
Under the terms of the Agreement, dated October 22, 2020, Sixth Wave will continue to develop an Accelerated Molecularly Imprinted Polymer (the “AMIPs™“) specifically for the purpose of quickly and selectively binding to the Virus. The proposed technology also contemplates the rapid delivery of a visual and/or electronic response upon the detection and verification of the Virus. The Company’s intention is to incorporate the AMIPs™ technology into a several rapid-detection products, including rapid virus test kits, SmartMask™, as well as air and water monitoring systems. The ability to have the AMIPs™ detection and reporting directly integrated into devices such as Personal Protective Equipment (PPE’s) will seamlessly provide the detection and the ability to automatically disseminate results for use in outbreak tracking and contact tracing (as may be implemented by appropriate Government agencies). The development of the air monitoring technology is the subject of the Company’s previously approved and announced (June 15, 2020) collaboration with York University and Centre Technologique des Residus Industriels which has received support from the Natural Sciences and Engineering Research Council of Canada (“NSERC”).
This Project represents the first outside funding in the development of the Company’s proposed AMIPs™ virus detection technology, and expands the SIXW footprint in Nova Scotia. As previously announced (May 15, 2020), SIXW has already engaged Neocon International Inc., a premier manufacturing company in Dartmouth to commercialize the SmartMask™ product. Moreover, SIXW has executed a Memorandum of Understanding with Dalhousie University to explore near term opportunities to establishing a research and development presence in the Province.
“Our sincere appreciation to the Province of Nova Scotia for its participation in this project,” said Dr. Jon Gluckman, CEO of Sixth Wave. “Sixth Wave has a substantial history of delivering similarly complex MIP based solutions within limited timelines, as evidenced by our explosives detection wipes and bacterial pathogen diagnostic tools. We welcome this opportunity to once again prove the utility of molecular imprinting as a detection and diagnostic tool, especially in circumstances of such importance to public health and security.”
“MIP technology is well documented in the scientific literature as being a comparatively fast and reliable diagnostic tool,” said Garrett Kraft Ph.D., head of the Sixth Wave project. “MIP-based analytical technologies are also known for their flexibility, durability and accuracy. Polymer substrates demonstrate resilience under adverse conditions, and do not require climate-controlled storage as many antibody based tests do. They can therefore be readily applied to a host of materials, fabrics and other test media. These attributes along with low cost and production scalability have the potential to set AMIPs™ apart from traditional PCR and immunoassay tests.”
The company is not making any express or implied claims that its product has the ability to eliminate, cure or contain the COVID-19 (or SARS-2 coronavirus) at this time. AMIPs tests produced for personal use or point of care use will be subject to regulatory approval.
The Project has a number of objectives, culminating in the development of a Molecularly Imprinted Polymer (“MIP“) formulation with measurable binding of inactivated SARS-CoV-2 in a buffer solution with limits of detection less than 15,000 virus particles / mL (comparable to several other commercially available diagnostic technologies) and a basic colorimetric response using protein labeling chemistry. Clinically relevant viral loads have been determined to be approximately 15,000 virus particles / mL. Although a MIP for the detection of SARS-CoV-2 has not previously been developed, other virus imprinted polymers have demonstrated detection limits as low as 105 virus particles / mL.
Overall, the Company’s objectives for the COVID-selective AMIPs™ include:
- Flexibility – The ability to analyze a significant variety of field samples such as specimens garnered from bodily fluids, breath, air, waste streams, and contact surfaces;
- Speed – The ability to detect and to communicate an electronic or visual signal almost immediately upon positive diagnosis;
- Ease Of Use – The ability to integrate with a variety of devices not requiring specialized training, and
- Low Cost – enabling widespread and frequent testing that will allow for safe return to daily activities and outbreak management.
The Company’s COVID-19 Project represents the first step in the development of a flexible platform which can be adapted to detect virtually any virus. For more information on the proposed AMIPs™ technology and associated fundamental and device-related patent applications, see: www.amips.com.The overall budget for this Project totals $770,000, of which $250,000 will be funded through the contribution by the NSCRC.
The Company’s molecularly imprinted polymer technology is also being commercialized in the mining and cannabis sectors.
About Sixth Wave
Sixth Wave is a nanotechnology company with patented technologies that focus on extraction and detection of target substances at the molecular level using highly specialized Molecularly Imprinted Polymers (MIPs). The Company is in the process of commercial roll out of its Affinity™ cannabinoid purification system, as well as, IXOS®, a line of extraction polymers for the gold mining industry. The Company is in the development stages of a rapid diagnostic test for viruses under the Accelerated MIPs (AMIPS™) label.
Sixth Wave can design, develop and commercialize MIP solutions across a broad spectrum of industries. The company is focused on nanotechnology architectures that are highly relevant for detection and separation of viruses, biogenic amines and other pathogens, for which the Company has products at various stages of development.
For more information about Sixth Wave, please visit our web site at: www.sixthwave.com
ON BEHALF OF THE BOARD OF DIRECTORS
Jonathan Gluckman, Ph.D., President & CEO
For information, please contact the Company:
Phone: (801) 582-0559
This press release includes certain statements that may be deemed “forward-looking statements” including statements regarding the planned use of proceeds and performance of the AMIPs™ technologies. All statements in this release, other than statements of historical facts, that address future events or developments that the Company expects, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual events or developments may differ materially from those in forward-looking statements. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause the Company’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. In particular, successful development and commercialization of the AMIPs™ technology are subject the risk that the AMIPs™ technology may not prove to be successful in detecting virus targets effectively or at all, uncertainty of medical product development, uncertainty of timing or availability of required regulatory approvals, lack of track record of developing products for medical applications and the need for additional capital to carry out product development activities. The value of any products ultimately developed could be negatively impacted if the patent is not granted. The Company has not yet completed development of a prototype for the product that is subject of its patent application and has not yet applied for regulatory approval for the use of this product from any regulatory agency.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/66918
Curtis Mathes to Present a Live Webinar for Cannabis Science & Technology
The Curtis Mathes Corporation (OTC: TLED) will be presenting a live webinar on November 3rd in collaboration with the peer-reviewed technical journal, Cannabis Science & Technology. The presentation, entitled “Environmental and Genetic Factors that affect the quality of Cannabis and Hemp”, will be delivered by Dr. Zacariah Hildenbrand along with a live Q&A session.
“We are thrilled to share this educational webcast with our audience as well as the knowledge and thought-leadership from one of our esteemed editorial advisory board members, Dr. Zacariah Hildenbrand,” said Meg L’Heureux, Editor-in-Chief of Cannabis Science & Technology.
“It is always a tremendous honor to disseminate new information regarding the interplay between plants and the environment,” remarked Zacariah Hildenbrand, Curtis Mathes Director and Chief Scientific Officer, “This webinar hosted by Cannabis Science & Technology is an excellent opportunity for us to discuss our latest lighting technologies and ongoing research efforts.”
“Science and research are entrenched in our DNA at Curtis Mathes,” said Robert Manes, President & COO of Curtis Mathes, “Webinars like this allow us to connect with potential collaborators while educating prospective clients on the science of horticultural lighting.”
Christina Lake Cannabis Appoints Ryan Smith as Chief Financial Officer
VANCOUVER, British Columbia, Oct. 27, 2020 (GLOBE NEWSWIRE) — Christina Lake Cannabis Corp. (the “Company” or “CLC” or “Christina Lake Cannabis”) is pleased to announce the appointment of Ryan Smith as Chief Financial Officer (“CFO”) of the Company. As Controller, Mr. Smith has been responsible for managing the financial actions of the Company. In his previous endeavours, Mr. Smith acquired a track record of providing corporate value through a combination of strategic sales-driven activities and cost-saving measures.
Mr. Smith is a finance professional with a diversified portfolio spanning multiple industries. He previously held senior positions with one of the largest credit unions in Canada, most recently managing a commercial portfolio in excess of $250 million. He gained experience in the telecommunications sector through senior financial roles with Axia NetMedia Corporation – the Calgary-based operator of Alberta’s SuperNet that was subsequently acquired by Bell – and KMM, a U.S.-based national provider of integrated logistics and network services for AT&T, Verizon and Ericsson. At both organizations, Mr. Smith played a key role in strategic investment initiatives and supported accounting functions. A former NCAA athlete, Mr. Smith holds a Bachelor of Business Administration with a concentration in finance, with the highest distinction, from Keiser University in Florida.
“I feel fortunate to be part of one of the fastest-growing licensed cannabis producers in the country. When considering its extraction capabilities in conjunction with its production model, CLC is well positioned to abundantly provide the market with low-cost, high-quality cannabis flower, oil and hemp-based derivatives on a global scale. The opportunity to position ourselves in the domestic and international markets is very timely and particularly inspiring,” stated Mr. Smith.
Joel Dumaresq, CEO and Director of Christina Lake Cannabis, commented, “As Christina Lake completes its inaugural harvest season and accelerates into the next phase of growth, we are particularly fortunate to have a technically skilled and analytical CFO, with a high degree of operational competency, such as Ryan Smith, on our team.”
With the appointment of Ryan Smith as the Company’s Chief Financial Officer, Joel Dumaresq has transitioned from the interim position he assumed to focus solely on his current role of Chief Executive Officer.
About Christina Lake Cannabis Corp.
Christina Lake Cannabis Corp. is a licensed producer of cannabis under the Cannabis Act. It has secured a standard cultivation licence and corresponding processing/sales amendment from Health Canada (March 2020 and August 2020, respectively) as well as a research and development licence (early 2020). CLC’s facility consists of a 32 acre property, which includes over 950,000 square feet of outdoor grow space, offices, propagation and drying rooms, research facilities, and a facility dedicated to processing and extraction. CLC cultivates cannabis using strains specifically developed for outdoor cultivation and in its inaugural harvest year produced 32,500 kg (71,650 lb) from its existing facility before developing an adjacent 99 acre expansion property, which will bring its annual cultivation footprint to over 4.35 million square feet or over 88,000 kg (194,007 lb) of low-cost, high-quality, sun-grown cannabis.
On behalf of Christina Lake Cannabis Corp.:
Joel Dumaresq, CEO and Director
For more information about CLC, please visit: www.christinalakecannabis.com
THE CANADIAN SECURITIES EXCHANGE (“CSE”) HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.
Forward-Looking Information: This news release includes certain statements that may be deemed “forward-looking statements.” The use of any of the words “anticipate,” “continue,” “estimate,” “expect,” “may,” “will,” “would,” “project,” “should,” “believe” and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this News Release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company’s disclosure documents which can be found under the Company’s profile on www.sedar.com.
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