Connect with us

Cannabis

Spyder Cannabis Completes Debt Settlement Transaction

Newsfile

Published

on

Vaughan, Ontario–(Newsfile Corp. – August 25, 2020) – Spyder Cannabis Inc. (TSXV: SPDR) (“Spyder Cannabis” or the “Company“), an established Canadian cannabis and vape retailer, is pleased to announce that it has completed its previously-announced debt settlement transaction (the “Transaction“) pursuant to which it has issued, to certain creditors of the Company, an aggregate of 3,872,000 common shares in the capital of the Company (“Common Shares“) at a deemed price of $0. 05 per Common Share in settlement of an aggregate of $193,600 in indebtedness of the Company. The Common Shares issued in connection with the Transactions are subject to a statutory hold period of four months and a day from the date of issuance.

Related Party Transaction

As part of the Transaction, the Company issued to Mark Pelchovitz, the Chief Financial Officer and a Director of the Company, and therefore an insider, 3,000,000 Common Shares, which issuance is considered a “related party transaction” pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101“). The Company has relied on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(a), respectively, of MI 61-101 in respect of such insider participation. The Company is relying on an exemption from the formal valuation and the minority shareholder approval requirements of MI 61-101 contained in, respectively, Section 5.5(a) and Section 5.7(1)(a), as the fair market value of the Common Shares issued to Mr. Pelchovitz under the Transaction does not exceed 25% of the market capitalization of the Company, as determined in accordance with MI 61-101.

Early Warning Report

Prior to the closing of the Transaction, Mr. Pelchovitz beneficially owned (i) 2,115,089 Common Shares, representing approximately 4.89% of the total issued and outstanding Common Shares (on a non-diluted basis), and (ii) assuming full exercise of 33,333 common share purchase warrants of the Company (“Warrants“), and 600,000 stock options of the Company (“Options“) prior to the Transaction, 2,748,422 Common Shares, representing approximately 6.35% of the issued and outstanding Common Shares on a partially diluted basis.

Following the completion of the Transaction, Mr. Pelchovitz now has ownership and control over (i) 5,115,089 Common Shares, representing approximately 10.86% of the total issued and outstanding Common Shares (on a non-diluted basis), and (ii) 33,333 Warrants, and 600,000 Options, which together with the 5,115,089 Common Shares, and assuming full exercise of the Warrants and the Options, represents approximately 12.20% of the issued and outstanding Common Shares on a partially diluted basis.

The Common Shares acquired pursuant to the Transaction were acquired by Mr. Pelchovitz for investment purposes, and depending on market and other conditions, Mr. Pelchovitz may from time to time in the future increase or decrease his ownership, control or direction over securities of the Company through market transactions, private agreements, or otherwise. For the purposes of this notice, the address of Mr. Pelchovitz is 57 Greenbank Drive, Richmond Hill, Ontario, L4E 4C4.

An early warning report pursuant to the requirements of applicable securities laws will be issued by each of the Reporters and will be posted to SEDAR at www.sedar.com and available on request at the number and addresses below. For further information, including a copy of the early warning report required under applicable Canadian securities laws to be filed by Mr. Pelchovitz as a result of the Transaction, please contact Dan Pelchovitz at 1-888-504-SPDR (1-888-504-7737).

About Spyder

Spyder is a Cannabis, Vape and CBD retailer that operates in jurisdictions where the products are federally legal in both Canada and the United States. The Company, through its subsidiaries, is a retailer involved in the development of three retail business units. The first is the sale of Cannabis products, the second is the sale of CBD in the United States only, the third is the sale of smoking cessation products in Ontario.

Additional Information

For more information, please contact:

Spyder Cannabis Inc.
Dan Pelchovitz
President & Chief Executive Officer
Contact: Investor Relations
Phone: 1-888-504-SPDR (1-888-504-7737)
Email: corporate@spydercannabis.com

Cautionary Statements

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain statements contained in this press release may constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the satisfaction of the closing conditions contemplated under the Debt Settlement. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Company. Risk factors that could cause actual results or outcomes to differ materially from the results expressed or implied by forward-looking information include, among other things, general economic and business conditions and a changes in the regulatory conditions in the markets within which the Company operates. The Company cautions the reader that the above list of risk factors is not exhaustive. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

Not for distribution to United States newswire services or for dissemination in the United States

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/62480

Cannabis

PURA Plows Forward With Farmersville Brands And Stock Dividend

Newsfile

Published

on

Dallas, Texas–(Newsfile Corp. – September 30, 2020) – Puration, Inc. (OTC Pink: PURA) management today communicated assurance that the company’s Farmersville Brands strategy to include the acquisition of 72-acre property in Farmersville, Texas and infused with a $100 million planned investment is moving forward. Management also confirms intentions to promptly execute on the distribution of a previously announced stock dividend. With both coming at the end of the third quarter, management decided to close the quarter before the definitive execution of the property acquisition and the dividend. PURA expects to make prompt definitive moves on both next week. Management is also pleased to highlight the impending initiation of a third production run this year of its EVERx CBD Sports Water in conjunction with ongoing consistent sales in the face of this year’s pandemic challenges.

For more information on Puration, visit http://www.purationinc.com

Disclaimer/Safe Harbor:

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.

Contact:
Puration, Inc.
Brian Shibley,
info@aciconglomerated.com
(800) 861-1350

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/64943

Continue Reading

Cannabis

The Top Reasons Lithium Prices Will Soon Spike Higher Again

Newsfile

Published

on

Houston, Texas–(Newsfile Corp. – September 30, 2020) – The world could run into a massive lithium supply crunch.

Thanks in part to the electric vehicle boom that doesn’t look to cool off any time soon.

In fact, “A global push for EV adoption, helped by government subsidies and incentives, means that demand for lithium is not going away. Companies like Volkswagen, Ford, Mercedes and Amazon having started shifting their focus to electric vehicles,” reports Bloomberg.

According to the Boston Consulting Group, by 2025, EVs could account for a third of all auto sales. By 2030, EVs could surpass combustion engine vehicles with a market share of 51%.

Helping to fuel the boom, Tesla just signed a lithium ore supply deal with Piedmont Lithium.

“The initial five-year agreement implies that Piedmont will supply about a third of its planned 160,000-tonnes-per-year spodumene concentrate produce from its deposits in North Carolina. Both companies have an option to extend the deal for another five years,” added Reuters.

With demand increasing, it’s only a matter of time before lithium prices spike again.

E3 Metals Corp. (TSXV: ETMC) (OTC Pink: EEMMF) Could Be a Big Part of the Lithium Boom

E3 Metals Corp. just hosted the Energy Minister, Sonya Savage, from the Government of Alberta at the Company’s offices in Calgary.

During this visit, the government announced it has assembled a five-member panel of experts from the metals and mining industry whose strategic advice will help government unlock the province’s vast mineral potential, including lithium. The panel will support the province in its efforts to diversify its economy and become a world leader in mineral resource production.

“We are very happy to host the Minister of Energy at our offices today. This announcement solidifies the province’s commitment for the development of critical minerals. E3 Metals is on the forefront of lithium development in Alberta, a critical mineral that can be produced on the backbone of the oil industry. Alberta has a skilled energy labour force already in place that is well positioned to support an emerging minerals sector,” said Chris Doornbos, President and Chief Executive Officer of E3 Metals.

“As E3 Metals works to commercialize lithium production in Alberta, we are excited to participate in this broader effort to position Alberta as an international player in a world increasingly focused on battery materials,” he added.

In addition, according to Sonya Savage, Minister of Energy, Government of Alberta, “We (the Alberta government) need to take bold action to diversify our economy by exploring… minerals. Our government’s efforts will support the development… of the mineral sector including the ground breaking work that is being done by Alberta companies such as E3 (Metals). Our ultimate goal (is to become) a global destination for mineral investment exploration and development.”

The announcement by the province complements the Canada-U.S. Joint Action Plan on Critical Minerals Collaboration, which focuses on securing and developing critical mineral supply chains. Lithium, graphite, cobalt and rare earth elements, all of which play an important role in the production of lithium-ion batteries and the energy storage sector, are listed as critical minerals. To date, many other developed economies have put in place a critical minerals strategy including the European Union, Japan, Korea and Australia.

For more information, visit the company’s website at https://www.e3metalscorp.com

Legal Disclaimer

Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release.

For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement between Winning Media and E3 Metals Corp. Winning Media has been paid two thousand dollars for advertising and marketing services for E3 Metals Corp. We own ZERO shares of E3 Metals Corp. Please click here for full disclaimer.

Contact Information:
2818047972
ty@lifewatermedia.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/64942

Continue Reading

Cannabis

PAOG Cannabis Pharmaceutical Research Initiative Gains New Traction

Newsfile

Published

on

Sandusky, Ohio–(Newsfile Corp. – September 30, 2020) – PAO Group, Inc. (OTC Pink: PAOG) today indicated plans to reveal new information on the Company’s initiative to expand its cannabis pharmaceutical treatment research beyond its current focus on Chronic Obstructive Pulmonary Disease (COPD).

In a media interview scheduled for release on Friday, October 2nd, PAOG Jim DiPrima will highlight a new pharmaceutical cannabis research expert resource engaged by the company to bring new industry recognized expertise to move PAOG’s cannabis pharmaceutical asset forward.

On July 30, 2020, PAOG acquired RespRx from Kali-Extracts, Inc. (OTC Pink: KALY). RespRx is a cannabis treatment under development for COPD derived from a patented cannabis extraction method – U.S. Patent No. 9,199,960 entitled “METHOD AND APPARATUS FOR PROCESSING HERBACEOUS PLANT MATERIALS INCLUDING THE CANNABIS PLANT.”

In an initial scientific evaluation as a treatment for COPD, RespRx has demonstrated effecting significant increases in respiration rate, tidal volume and inspiratory air flow rate. Overall data from the evaluation demonstrated that RespRx can significantly improve inspiratory lung functions in instances of moderate pulmonary fibrosis.

With RespRx now in house, PAOG has engaged multiple new experts from both the university and commercial medical research community to evaluate the RespRx formula, the formulation process and the test results.

The expert evaluation has reviewed RespRx in conjunction with other publicly available cannabis treatment research. Two studies in particular, both of which highlight the research behind GW Pharmaceuticals’ cannabinoid treatments, shed light on PAOG’s wider opportunity stemming from RespRx, the process to derive RespRx and the clinical trials to date behind RespRx.

One of the two studies is focused on CBD and the other on THC. The research seems to indicate CBD has both an impact on hyper-immune responses that might result in conditions like a cytokine storm which impacts many COVID-19 patients, and positive stimulation of immune responses that fight bad cells. The THC report seems to validate its ability to relieve pain, but it also indicates immune response manipulation capabilities to include anti-inflammatory reactions and the stimulation of immune responses to fight bad cells.

CBD Research – https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7173676/

THC Research – https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6219460/

In summary, existing publicly available cannabis treatment research further supports the research findings behind RespRx, and at the same time, the publicly available research sheds light on the expanded potential of PAOG’s RespRx overall technology.

The growing body of cannabis research is building convincing evidence behind how specific cannabinoids can beneficially impact specific immune responses. The research behind RespRx demonstrates how the process to derive RespRx can be manipulated to target specific cannabinoid extractions. Accordingly, as advancing cannabis research unveils further evidence behind how specific cannabinoids beneficially impact specific immune responses, PAOG is optimistic that it can utilize its overall cannabis extraction process to effectively derive formals with high concentrations of target cannabinoids. Hence, PAOG sees a more broad future of developing cannabis treatments beyond COPD.

In conjunction with PAOG’s acquisition of RespRx, the company also recently acquired a hemp cultivation business from Puration, Inc. (OTC Pink: PURA) to develop a proprietary cultivar to support PAOG’s cannabis pharmaceutical treatment objectives.

PAOG has announced plans with PURA to expand upon PAOG’s hemp cultivation business to develop a proprietary hemp cultivar. PAOG and PURA are partnering on PURA’s Farmersville Brands initiative.

PAOG’s Farmersville cultivar development operation will include a lab and an environmentally controlled indoor growing facility. PAOG is working with current cultivars to evolve and produce an ideal plant with full spectrum, high CBD yields to support ongoing RespRx development and to support future CBD pharmaceutical developments.

PAOG is exploring opportunities to engage with university research in partnership with its hemp cultivar development initiative.

PURA recently announced a year long initiative to transition PURA from a CBD sports beverage manufacturer into a hemp conglomerate built on lifestyle brand with a broad CBD consumer products reach, and a leading industrial hemp initiative. The brand name is Farmersville Brands and as part of their strategy, PURA has entered into a letter of intent (LOI) agreement to acquire 72 acers of agricultural property in Farmersville, Texas. PURA’s year long initiative includes plans to see the Farmersville Brand strategy infused with a $100 million investment.

www.paogroupinc.com

Forward-Looking Statements: Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications, which may arise, could prevent the prompt implementation of any strategically significant plan(s) outlined above. The Company undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.

CONTACT INFORMATION

Puration, Inc.
Brian Shibley,
(800) 861-1350
info@aciconglomerated.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/64940

Continue Reading

Trending Online

Grassnews is part of PICANTE Media and Events, a leading media and boutique event organizer in the European Union with a monthly reach of +50,000 readers. The official company (PROSHIRT SRL), has been listed for 4 years in a row among the top 3 Advertising and market research agencies in the local Top Business Romania Microcompanies based on the Financial Reports. Grassnews digests / hand picks the latest news about the CBD / Legal Cannabis industry and serves them to you daily.

Contact us: sales@picante.today

Editorial / PR Submissions

© Grassnews .com 2019 - 2020 - part of PICANTE Media. All rights reserved. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania