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MediPharm Labs Secures 100% Ownership of its Australia Subsidiary, Poised for New Wave of Global Medicinal Cannabis Growth

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TORONTO, Sept. 28, 2020 (GLOBE NEWSWIRE) — MediPharm Labs Corp. (TSX: LABS) (OTCQX: MEDIF) (FSE:MLZ) (“MediPharm Labs” or the “Company”) a global leader in specialized, research-driven pharmaceutical-quality cannabis extraction, distillation and derivative products, today announced it has entered into a share sale and purchase agreement (the “Buyout Agreement”) with its local Australian partner to acquire its 20% ownership interest in the Company’s 80%-owned subsidiary MediPharm Labs Australia. Upon closing of the Transaction, MediPharm Labs Australia will be a wholly-owned subsidiary of the Company.

“Since our founding, MediPharm Labs Australia has been a cornerstone of our strategy to develop a multi-jurisdictional, GMP-certified production capability chain to service worldwide medicinal, wellness and adult-use markets,” said Pat McCutcheon, CEO, MediPharm Labs. “Now a wholly-owned subsidiary, MediPharm Labs Australia will continue to represent a strategic segment of our global supply chain and a highly sought after, valuable and irreplaceable asset that differentiate us in the marketplace. With our Australia GMP certified manufacturing assets and licences from the Therapeutic Goods Administration, we are perfectly positioned for the next wave of growth in global cannabis markets as MediPharm Labs Australia continues to serve as a door-opener to sophisticated new pharma accounts and new medically focused cannabis companies in emerging international jurisdictions.”

Under the Buyout Agreement, MediPharm Labs will pay consideration of approximately $3.2 million comprising a mix of 37.5% cash to be paid in three instalments over an 18 month period and 62.5% MediPharm Labs common shares priced based on the 5-day VWAP on the TSX (the “Transaction”). The common share portion of the consideration will be subject to a twelve-month lock-up.

Poised for New Wave of Global Medicinal Cannabis Growth

The Company’s Australian facility was certified by the Therapeutic Goods Administration (“TGA”) as meeting the GMP standard and secured a Licence to Manufacture Therapeutic Goods in May 2020. As the Company’s Canadian facility was TGA GMP certified in late 2019, MediPharm Labs has created a global pharmaceutical-quality supply chain that is qualified to serve new emerging medical markets internationally. Since the end of 2019, MediPharm Labs Australia has signed a number of significant domestic and international customer supply agreements and achieved revenue of $625,000 in its first month of operations from the shipment of formulated CBD and THC oils to its customers. These shipments were the product of synergies between MediPharm Labs’ Canadian and Australian supply chain made possible by a large shipment of finished products and bulk oil from the Company’s GMP-certified facility in Barrie, Ontario to Australia. The Company intends to continue taking advantage of its internal supply pipeline on a strategic basis as it targets new supply agreements to expand its international market share.

About MediPharm Labs Corp.

Founded in 2015, MediPharm Labs specializes in the production of purified, pharmaceutical quality cannabis oil and concentrates and advanced derivative products utilizing a Good Manufacturing Practices certified facility with ISO standard built clean rooms. MediPharm Labs has invested in an expert, research-driven team, state-of-the-art technology, downstream purification methodologies and purpose-built facilities with five primary extraction lines for delivery of pure, trusted and precision -dosed cannabis products for its customers. Through its wholesale and white label platforms, they formulate, consumer-test, process, package and distribute cannabis extracts and advanced cannabinoid-based products to domestic and international markets. As a global leader, MediPharm Labs has completed commercial exports to Australia and is nearing commercialization of its Australian Extraction facility. MediPharm Labs Australia was established in 2017.

For further information, please contact:
Laura Lepore, VP, Investor Relations
Telephone: 705-719-7425 ext 1525
Email: investors@medipharmlabs.com
Website: www.medipharmlabs.com   

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION:

This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate to, among other things, the successful closing of the Transaction AND performance of the Buyout Agreement leading to MediPharm Labs Australia becoming a wholly-owned subsidiary of the Company. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; the inability of MediPharm Labs to obtain adequate financing; the delay or failure to receive regulatory approvals; and other factors discussed in MediPharm Labs’ filings, available on the SEDAR website at www.sedar.com. 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 the forward-looking statements and information contained in this news release. Except as required by law, MediPharm Labs assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change.

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Greene Concepts Fortifies Financial Positioning Through Major Debt Reduction Combined with Share Buyback in Alignment with the Company’s Growth Strategy

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Marion, North Carolina–(Newsfile Corp. – October 28, 2020) – Greene Concepts Inc. (OTC Pink: INKW) is excited to report the company has completed a debt forgiveness agreement in the amount of $340,898 previously owed to one of our largest note holders. This reduces our notes payable by 56%. The debt holder, Greene Concepts’ management and accountants have agreed to write-off and eliminate $340,898 of the third-party convertible notes from the company’s finances as debts that are no longer due.

Additionally, the Company is in the process of finalizing a substantial share buyback of its common stock. This common stock buyback will reduce the common share count by over 280 million shares. The company has taken powerful actions financially in a short time span by increasing its Assets, Cash, Inventory, and Sales.

Greene Concepts 3rd and 4th Quarter Finance Comparisons
3rd Quarter Report (Period Ending 4/30/2020) 4th Quarter Annual Report (Period Ending 7/31/2020)
Assets $3,377,752 $4,837,830
Cash $1,623 $67,127
Inventory $0 $51,425
Sales $0 $51,885

Lenny Greene, CEO of Greene Concepts notes, “Today’s announcement marks an important step forward in significantly strengthening Greene Concepts in terms of debt reduction which wipes out 56% of our debt (over $340,000 worth of payable debt) off our books. We would like to give a profound thanks to this Debt holder for their strong work and altruism in this action. This bold and forward-looking gesture better positions us for increased revenue generation, faster inventory turnaround times, increased gross and profit margins, a rise in working capital, employee additions and positive cash flows. It also allows us to increase our assets, our cash reserves, and our total sales. We will continue to focus on the things we can control with aggressive cost management and working capital reductions. This focus will allow us to reduce debt, achieve positive liquidity and balance sheet improvement.”

Mr. Greene continues, “We are pleased to continue making strides in our ongoing efforts to strengthen our business, increase our flexibility and improve returns on capital. It is our intention to do whatever we can to continually reduce our debt and monitor our Key Performance Indicators for our financial condition to include our cash, accounts receivable and accounts payable. While we amplify our sales and reduce our debt, we also maintain an inventory of $51,425 of cases of our bottled ‘Be Water’ Brand ready to ship to Amazon and throughout the country. Our new ‘Be Water’ Label production run begins next week.”

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BeWater New Label

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“Finally, we are in the process of finalizing a share buyback of our stock. This common share buyback will reduce our common share count by over 280 million shares. We are confident that each of these financial actions offer improved security during these uncertain times and better positions us to pull the trigger on future partnership or acquisition opportunities while preparing us for unprecedented growth.”

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Greene Concepts Creek Running Water

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About Greene Concepts, Inc., Mammoth Ventures, Inc. and Water Club, Inc.

Greene Concepts, Inc. (http://www.greeneconcepts.com) is a publicly traded company. Through its recently acquired wholly owned subsidiary, Mammoth Ventures Inc., the Company has entered the specialty beverage and bottling business and is an emerging leader in the global scientifically formulated beverage industry. Through its subsidiary Water Club, Inc. we intend to pursue subscription-based delivery of water and scientifically formulated beverages directly to the consumers home and market the convenience of this service thru social media affiliate marketing partners.

Safe Harbor: This Press Release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the company’s current plans and expectations, as well as future results of operations and financial condition. A more extensive listing of risks and factors that may affect the company’s business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company with the Securities and Exchange Commission and OTC Markets, Inc. OTC Disclosure and News Service. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

CONTACT:

Greene Concepts, Inc.
Investor Relations
info@inkway.com

Lenny Greene
lenny@greeneconcepts.com
559-434-1000

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/67028

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TransGlobal Assets Inc. (TMSH) Expands in Pittsburgh Area with Property Acquisition

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Company seeks a foothold on manufacturing of Monster Elixir branded CBD products and beverages

Pittsburgh, Pennsylvania–(Newsfile Corp. – October 28, 2020) – TransGlobal Assets, Inc. (OTC Pink: TMSH) is proud to announce the purchase of a 3,500 square foot building in Pittsburgh that will serve as the headquarters of Monster Elixir Inc., a wholly-owned subsidiary. It will house manufacturing for Monster Elixir’s line of CBD beverages and topical healing products.

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MONSTER ELIXIR

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The purchase expands on the company’s growth plan, which currently features a 2,400 square foot rental space in the city that will be a storage unit for production. The plan also entails the purchase of the first of many additional store front retail spaces in the Pittsburgh area.

The company is securing space for its line of heavily demanded drinks called Green Essence Beverages. The CBD-infused drinks will be sold in the following flavors:

Ginger Bite
Pineapple Agave (Dark)
Strawberry Pineapple Lemonade
Peach Rosemary
Watermelon Mint
Perfectly Plum

Monster Elixir will also launch a line of CBD wellness products that include, but are not limited to, the following:

Joint & Muscle Cream
Joint & Muscle Balm
Body Butter
Bath Bombs
Tincture Drops

In addition, the company is also launching a line of hemp-infused hair care products that will include shampoos & conditioners, healthy hair butters & tinctures, as well as beard care products. These fine CBD products will be sold at local dispensaries and other retail outlets.

For further inquiries please contact:

Curtis Philpot CEO
TransGlobal Assets Inc.
Office: (833) 217-8764 
Email: Info@TransGlobalAssets.net

www.TransGlobalAssets.com
Twitter: @TMSH_OTC
Facebook: Facebook.com/TMSHOTC

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/67026

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Hemp, Inc. Set to Distribute Full King of Hemp® Product Line Across Country

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Las Vegas, NV, Oct. 28, 2020 (GLOBE NEWSWIRE) — via NewMediaWire — Hemp, Inc. (OTC PINK: HEMP), a global leader in the industrial hemp industry with bi-coastal processing centers, announced today it will be aggressively shipping its King of Hemp® product line to stores across the country over the next 30-60 days. To date, the King of Hemp® product line consists of Bubba Kush hemp; Pre-rolls, Fortified Pre-rolls, Caviar/Moon Rocks; and Diamonds.

According to Bruce Perlowin, CEO of Hemp, Inc., the Company is revving up to launch one of its most aggressive marketing campaigns to date. “Our number one goal has been to produce top-of-the-line CBD and CBG smokable products and CBD consumption options that fit consumer lifestyles and deliver unparalleled results. We’ve done just that with the King of Hemp® line.”

Hemp, Inc.’s Diamonds and Crumbles (smaller Diamond pieces) are dabbable CBD products, derived from a golden-hued high CBD, THC-free distillate taken directly from the hemp plant that includes blends of valuable terpenes. Diamonds and Crumbles promise to deliver the strongest, most potent effects of any other product from the line containing between 92% and 98.7% pure CBD.

Consumption methods include, but are not limited to, utilizing a dab rig or a wax vaporizer for the fastest, strongest results. (While Hemp, Inc. does not cultivate, manufacture or produce any type of THC product, consumers of the Company’s CBD product Diamonds report that mixing Diamonds with a THC concentrate helps to mellow THC’s effects).

“Diamonds or Crumbles are the perfect way for our customers to get a pure, clean CBD dabbing experience with instant results that last,” said Perlowin.

Hemp, Inc.’s Caviar, similar to Moon Rocks, is a highly potent and rich tasting smokable product with less than 0.3% THC. It is made from Hemp, Inc.’s high-quality Southern Oregon-grown Bubba Kush hemp flower, which is covered with a THC-Free distillate (with and without added terpenes), and then rolled in CBG-rich kief. The product contains over 45% CBD and over 10% CBG.

Many people prefer to smoke their hemp products due to the speed and effectiveness of the delivery system. By entering the body through the respiratory system, there is a dramatic increase in bioavailability as compared to oral consumption. It is the fastest way to receive CBD and CBG’s potential calming and pain-relieving benefits.

Consumption methods include but are not limited to vaporizing Caviar in an all-ceramic or stainless steel vaporizer to capture the full terpene profile and cannabinoid effects; or using a glass water pipe. While Caviar is not a cannabis product, smoking it the way hash is smoked is recommended to achieve the best results.

“Caviar exemplifies the variety of ways consumers can enjoy CBD and CBG and reflects our brand vision of providing a superior, royal experience,” said Perlowin.

The King of Hemp® pre-roll line offers high-end products that are an effective and flavorful, smokable alternative to cigarettes and other hemp consumption methods. The King of Hemp® pre-rolls can be purchased individually or in packs of 6. Each pre-roll is 1 gram and does not exceed 0.3% THC.

King of Hemp® pre-rolls use A and B hemp colas which are derived from Pre-98 OG Bubba Kush hemp, one of the top selling cultivars on the market. The strain, rich soil and climate lend themselves to these colas being among the highest quality buds, positioning them to be some of the best tasting for consumption. 

The Company’s website for its King of Hemp® line (www.kingofhempusa.com) also has CBD oil tinctures available for purchase. The tinctures are available in two flavors, Natural and Peppermint, and contain full-spectrum hemp oil extracted from the flowers and leaves of hemp plants sustainably sourced from Colorado. They are also compliant with the regulations created by the Colorado Department of Agriculture in regards to industrial hemp. The tinctures contain 0.3% or less THC and are compliant with the 2018 Farm Bill.

To learn more, go to the King of Hemp® website, here.

According to Nielsen, market researchers project 2020 sales in the current smokable-hemp market to reach $70 million to $80 million. This category includes loose CBD flower, hemp-CBD pre-rolls, cigars and other inhalables.

To see one-minute videos of Hemp, Inc.’s current activities, visit Bruce Perlowin’s personal Facebook fan page, where he shares posts of Hemp, Inc.’s activities around the country.  Additionally, follow Hemp, Inc. on Instagram here and on Twitter here.

Those interested in King of Hemp® pre-rolls; hemp-derived CBD tinctures; Caviar; Diamonds; should visit www.kingofhempusa.com or email sales@kingofhempusa.com.

To view the webinar featuring Hemp, Inc.’s CEO, Bruce Perlowin, click here. 

WHAT IS HEMP, INC.?

What is Hemp, Inc.? With a deep-rooted social and environmental mission at its core, Hemp, Inc. seeks to build a business constituency for the American small hemp farmer, the American veteran, and other groups experiencing the ever-increasing disparity between tapering income and soaring expenses. The Company is on a mission to be a powerful engine for social change and economic revival, worldwide, by providing hemp products that are eco-friendly, sustainable and healthy. Hemp, Inc. executives believe there can be tangible benefits reaped from adhering to a corporate social responsibility plan.

FORWARD-LOOKING DISCLAIMER AND DISCLOSURES

This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. The Securities and Exchange Commission (SEC) requires issuers to provide “adequate current information” and Hemp, Inc. does… using the SEC’s Alternative Reporting Standard to publicly report its quarterly and yearly financials.  All current information can be found on www.hempinc.com/hemp-financial-disclosures/. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties.

Contact:

Hemp, Inc.    

855-436-7688

ir@hempinc.com

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