Industry veterans George Hampton and Terry Evans appointed CEO and
Company to leverage enhanced capital structure to fuel organic growth
and opportunistic acquisitions
MORRISTOWN, N.J.–(BUSINESS WIRE)–Currax Holdings USA LLC (“the Company”) today announced its launch, in
conjunction with the closing of a strategic transaction. Currax Holdings
USA LLC is a privately held holding company that wholly owns Currax
Pharmaceuticals LLC (“Currax”) and Persion Pharmaceuticals LLC
(“Persion”), specialty pharmaceutical businesses focused on acquiring
and commercializing prescription drugs within the U.S. market.
Currax Holdings USA LLC was launched simultaneous with the completion of
its acquisition of substantially all the assets from Pernix Therapeutics
Holdings, Inc. (“Pernix”). As a result of the acquisition, Currax
Holdings USA LLC is now a portfolio company of certain funds managed by
Highbridge Capital Management, LLC (“Highbridge”). Currax now
distributes the Branded and generic medications formerly owned by
Pernix. All medications will continue to be distributed via retail
pharmacies and the Prescriptions Direct® program. Other patient support
programs including those intended to lower the out-of-pocket costs of
Currax medications will continue to be available without disruption.
Currax also owns a 10% stake in Nalpropion Pharmaceuticals, Inc.
(“Nalpropion”), the owner of the market leading branded weight loss
“Currax’s enhanced capital structure will enable us to accelerate
existing portfolio medications and pursue a robust growth strategy
through acquisitions and strategic partnerships with our current
products in both Branded and generic markets,” said George Hampton,
newly appointed Chief Executive Officer of Currax Holdings USA LLC. “We
are laser focused on our broader mission to provide greater access to
life-changing medications for healthcare providers and the patients they
serve. I am delighted that our highly experienced management team will
continue on with Currax and I look forward to working with them to
accomplish our goals.”
George Hampton brings nearly three decades of industry experience to his
role as CEO of Currax Holdings USA LLC. Hampton will also serve as CEO
of Nalpropion Pharmaceuticals. Previously, he was Executive Vice
President of the Primary Care Business at Horizon Pharma (NASDAQ: HZNP),
a multi-billion dollar biopharmaceutical company. At Horizon, Hampton
reported directly to the CEO and also led the Global Orphan Business
Unit and International Operations. Across these business units, Mr.
Hampton led efforts to identify, develop, acquire and commercialize
differentiated and accessible medicines addressing unmet medical needs.
Currax Holdings USA LLC has also appointed Terry Evans Chief Operating
Officer. Mr. Evans joins the Company from Horizon Pharma, where he was
Senior Vice President and General Manager of Managed Care and Trade. He
brings over two decades of expertise in pharmaceutical distribution and
The Company will be headquartered in Morristown, NJ. More information
about Currax can be found at www.curraxpharma.com
The creation of Currax Holdings USA LLC follows the Highbridge funds’
acquisition of substantially all the assets of Pernix, including the
rights to all Branded and generic products, per the firm’s previously
disclosed “stalking-horse bid” for $75.6 million in the form of cash and
credit bid consideration. The asset purchase agreement was announced in
conjunction with Pernix’s voluntary filing for Chapter 11 protection
under the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the
District of Delaware. The transaction was completed following customary
closing conditions, including approval of the transaction by the
bankruptcy court pursuant to a motion on April 15, 2019.
Highbridge was advised by Ducera Partners LLC and Skadden, Arps, Slate,
Meagher & Flom LLP.
Pernix was advised by Guggenheim Securities, LLC, Davis Polk & Wardwell
LLP, and Ernst & Young LLP.
About Currax Holdings USA LLC
Currax Holdings USA LLC is a privately-held holding company focused on
acquiring and commercializing prescription drugs within the U.S. market.
Currax Holdings USA LLC is the parent of several subsidiaries, including
Currax Pharmaceuticals LLC and Persion Pharmaceuticals LLC, specialty
pharmaceutical businesses focused on acquiring and commercializing
prescription drugs within the US Market.
Edelman Financial Communications
Hobo Cannabis Company Secures Majority Market Share in Vancouver with Launch of Fourth Location
VANCOUVER, British Columbia, Feb. 18, 2020 (GLOBE NEWSWIRE) — Hobo Cannabis Company (“Hobo”) today announces the opening of its newest retail store, located in the heart of Vancouver’s shopping district on Robson Street (1173 Robson Street). This marks the company’s fifth location province-wide, and fourth location in Vancouver, granting Hobo majority market share in the city with the launch of this 2,100 square foot store.
“We’re proud to be further investing in the growth of the cannabis industry and the local community at home on the West Coast,” said Harrison Stoker, VP Brand at Donnelly Group. “As the new year kicks off, we’re so thankful for all that we’ve achieved this past year as we’ve grown Hobo here, in Vancouver, and look forward to bringing Hobo Cannabis Company to more communities across Canada throughout 2020.”The new location features a carefully curated lobby entrance and new design elements to support the rollout of Cannabis 2.0 products including vaporizers and edibles. Hobo Robson will also showcase the company’s first terpene bar: an interactive experience that presents cannabis’ common terpenes as everyday smells, distilled into aromatic essential oil blends by the experts at the group’s Barber & Co laboratory in downtown Vancouver. The bar, which was first previewed at Lift&Co Expo Vancouver in January, will feature terpenes including Myrcene (Herbal), Limonene (Citrus), Caryophyllene (Spice), Terpinolene (Herbaceous), Pinene (Pine), Linalool (Floral) and aims to help buyers explore and get to know their favourite cannabis strains in a new way.This news follows the company’s announcement of three upcoming Ontario locations, including the first legal cannabis retail store in Timmins, as well as a location in Ottawa’s historic ByWard Market, and another in the neighbourhood of Nepean. The announcement comes ahead of the company’s market entry into the prairie provinces, with three locations currently under construction in Alberta.About Hobo Cannabis CompanyHobo Cannabis Company, a Donnelly Group venture, is a Canadian collection of privately-owned retail cannabis stores with locations in B.C., Ontario, and Alberta. As a testament to Hobo’s commitment to the consumer experience and making the cannabis buying experience disarming, compassionate and human, Hobo will employ a contemporary aesthetic rooted in simple, functional design and feature a well-considered product range and frictionless technology.Hobo Cannabis Company’s five locations now include Robson (1173 Robson Street, Vancouver), Kitsilano (1952 West 4th Avenue, Vancouver), Airport (8425 Granville Street, Vancouver), Main (4296 Main Street, Vancouver), and Kelowna (2121 Springfield Road, Kelowna) offering consumers a selection of five cannabis intents: Move (THC dominant), Lift (THC leaning), Balance (equal parts THC to CBD), Calm (CBD dominant), and Rest (THC dominant). For more information, visit https://hobo.ca.Media Contact
Talk Shop Media
On behalf of Hobo Cannabis Company
Agritek Holdings, Inc. Named Number One Short Term Cannabis Stock on Top 25 List by CANNAINVESTOR Magazine for Week of February 17th 2020
LOS ANGELES, CA, Feb. 18, 2020 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — Agritek Holdings, Inc. (AGTK) www.AgritekHoldings.com, a fully integrated, active real estate investor and white label provide for popular hemp brands, today announced that the Company was named the number one from a list of 25 undervalued cannabis companies as the top short term investment by CANNAINVESTOR Magazine this week.
Christina Lake Cannabis Conducts Management Changes
VANCOUVER, British Columbia, Feb. 17, 2020 (GLOBE NEWSWIRE) — Christina Lake Cannabis Corp. (the “Company” or “CLC” or “Christina Lake Cannabis”) announces today that Mr. Benjamin Asuncion has resigned as a director and Mr. Arie Prins has stepped down as President, Chief Executive Officer (“CEO”) and a director of the Company effective immediately. The board of directors has appointed Mr. Joel Dumaresq, Director and Chief Financial Officer as the Company’s interim-CEO to replace Mr. Prins.
Mr. Dumaresq has been active in Christina Lake Cannabis since the outset and will manage the Company through its planned public listing, pending Health Canada licensing, and planned cultivation and processing phases.Over the past 15 months, Mr. Prins oversaw the acquisition, buildout and construction of CLC’s 131-acre outdoor grow facility as well as the recent submission to Health Canada of the Company’s final evidence package in conjunction with its application for a Standard Cultivation License. Christina Lake Cannabis is also pleased to announce that Nicco Dehaan, a sizable investor in, and director of the Company since its founding, has agreed to assume the role of Chief Operating Officer of CLC. Mr. Dehaan is highly experienced in the industry having held for over seven years a license for the growing of medical Cannabis. Nicco will be responsible for overseeing all of CLC’s cultivation and processing operations along with expansion on the Company’s ‘131-acre owned-property’ and over ‘200 acre optioned-property’, once the necessary licenses have been secured.The Company further announces the immediate formation of an advisory committee to provide management with input and advice as the Company nears production. Christina Lake Cannabis is pleased to welcome Mr. Gil Playford and Mr. Mervin Boychuk to the Advisory Committee. Mr. Asuncion will remain involved with Christina Lake Cannabis as an advisor to the Company, and has chosen to vacate his Board position in order to make room on the Board for individuals with direct operational experience.Gil Playford, presently one of Christina Lake Cannabis’ largest shareholders with over a 10% ownership, is a seasoned senior mining executive and founder of LionOre Mining International, with nickel and gold assets in Africa and Australia. In 2007, Mr. Playford spearheaded the sale of LionOre Mining to Norislk Nickel for C$6.8 billion in cash. Mr. Playford started his professional career with Union Carbide Corp. for 25 years and various senior executive positions including Managing Director in Switzerland, Belgium and Germany. Mr. Playford also was the Chairman and CEO of Union Carbide Canada and Chief Financial Officer of Union Carbide in New York. He became Chairman and CEO of UCAR Carbon, a joint venture with Mitsubishi and took the partnership public as GrafTech International. Mr. Playford is presently Chairman and CEO of Bearing Lithium Corp. (BRZ-TSXV), a mineral and exploration development company listed on the Toronto Venture Stock Exchange (TSXV). Gil holds an Engineering Degree from McGill University in Montreal and a Master’s in Business Administration from York University in Toronto.Mervin Boychuk is a serial entrepreneur having founded, built, and sold four private businesses over his 35-year career. Mr. Boychuk joined South Rock Ltd, a private road construction company, in 1978 and subsequently became President & CEO in 1980. Under his guidance, the company grew from 20 employees to over 350, with annual revenues in excess of C$180 million, before subsequently selling to Aecon Group Inc. in 2009. During his tenure at South Rock, Merv co-founded RecycleWest, a waste oil collection and supply company, which was later sold to Newalta in 1995. In 1996, Merv co-founded EnviroWest which serviced the BC, Alberta, and Saskatchewan vacuum truck sludge and waste oil collection markets. EnviroWest was sold to GFL Environmental in 2010, a large waste management company which employs over 8,850 people. Merv is a significant shareholder in Christina Lake Cannabis and continues to be active in the family-owned waste treatment business in Calgary and Edmonton. Commented Joel Dumaresq, “I would like to personally thank Arie for his leadership during the construction of what we believe is Canada’s premier outdoor grow facility. As we await Health Canada approval of our cultivation application, and further as we prepare for our public listing, our operational capabilities have been greatly enhanced with the addition of Nicco, along with Gil and Merv, two highly-accomplished private entrepreneurs and operators.”About Christina Lake Cannabis Corp.Christina Lake Cannabis Corp is a late-stage applicant under the Cannabis Act, having submitted its Statement of Readiness and Evidence Package for a Standard Cultivation License, in addition to a Research and Development License. CLC’s facility is comprised of a 32-acre property, which includes over 870,000 square feet of outdoor grow space, offices, propagation and drying rooms. CLC plans to cultivate cannabis using strains specifically developed for outdoor cultivation and it is planning to produce up to 17,700 kg from its 32-acre facility before developing it’s adjoining 99-acre expansion property, which will bring it’s cultivation footprint to over 4.35 million square feet or over 88,000 kg of low-cost, high-quality, sun-grown cannabis annually.For more information about CLC, please visit: www.clcannabis.comNote Regarding Forward-Looking Information and StatementsForward-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.comOn behalf of:“Joel Dumaresq”
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