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Acasta Enterprises Inc. Reports First Quarter of 2019 Results

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TORONTO–(BUSINESS WIRE)–Acasta Enterprises Inc. (TSX: AEF) (“Acasta” or the “Company”)
today announced the release of its unaudited condensed consolidated
financial statements for the three months ended March 31, 2019 and
management discussion and analysis (MD&A). These documents will be
posted on SEDAR at www.sedar.com.
All values in this news release and the Company’s financial disclosures
are in Canadian dollars unless otherwise stated.

Financial Highlights

  • Net income for three months ended March 31, 2019 was $1.4 million from
    continuing operations compared to a loss of $26.4 million in the
    comparative period. Total comprehensive income for the three months
    ended March 31, 2019 was $1.4 million compared to a total
    comprehensive loss of $168.8 million in the comparative period. The
    comparative period total comprehensive loss includes losses of $142.4
    million from discontinued operations (Stellwagen and JemPak). The
    Company didn’t incur any losses from discontinued operations in the
    three months ended March 31, 2019 and does not expect additional
    losses from discontinued operations going forward.
  • Acasta’s reported revenues of $41.5 million in the three months ended
    March 31, 2019 compared to $42.3 million in comparative period. All
    reported revenues are from Apollo’s Consumer Products business.
  • Debt totalled $76.5 million at March 31, 2019. The Company’s
    commercial bank credit facility matures on June 1, 2019 and its U.S.
    credit facility on September 1, 2019. The Company is working with its
    lenders to extend debt maturities and improve lending terms.

Please refer to our Management’s Discussion & Analysis which will
provide additional detail on the Company’s results from operations.

Corporate Highlights

The Company is pleased to report that its efforts to rationalize
expenses combined with the realization of production efficiencies
resulted in a return to profitability in the three months ended March
31, 2019. The Company is focused on streamlining its operations and
reducing its cost structure and debt with a view towards enhancing
shareholder value over the medium to long term. The Company will
continue to explore various alternatives to achieve these ends.

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Advisories:

Cautionary Note Concerning Forward Looking Statements

This news release includes forward looking statements. All such
statements constitute forward looking information within the meaning of
applicable securities law and are made pursuant to the “safe harbour”
provisions of applicable securities laws. Forward looking statements
include, but are not limited to statements about other anticipated
future events or results, including comments with respect to Company’s
future financial performance and condition. Forward looking statements
are statements that are predictive in nature, depend upon or refer to
future events or conditions and are identified by words such as “will”,
“expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates” or
similar expressions concerning matters that are not historical facts.
Such statements are based on current expectations of the Company’s
management and inherently involve numerous risks and uncertainties,
known and unknown, including economic factors. The forward-looking
information contained in this news release is presented for the purpose
of assisting readers in understanding the Company’s business and
strategic priorities and objectives. A number of risks, uncertainties
and other factors may cause actual outcomes or financial results to
differ materially from the forward looking statements contained in this
news release, including, among other factors, those referenced in the
section entitled “Risk Factors” in the Company’s annual information form
for the year ended December 31, 2018, a copy of which is available on
the SEDAR website at www.sedar.com
under the Company’s profile. Forward looking statements contained in
this news release are not guarantees of future outcomes performance and,
while forward looking statements are based on certain assumptions that
the Company considers reasonable, actual events could differ materially
from those expressed or implied by forward looking statements made by
the Company. Readers are cautioned to consider these and other factors
carefully when making decisions with respect to the Company and to not
place undue reliance on forward looking statements. Circumstances
affecting the Company may change rapidly. Except as may be expressly
required by applicable law, Acasta does not undertake any obligation to
update publicly or revise any such forward looking statements, whether
as a result of new information, future events or otherwise. These
cautionary statements expressly qualify all forward looking statements
in this new release.

Contacts

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Acasta Enterprises Inc.
[email protected]
Fred
Leigh
416-861-5933
www.acastaenterprises.com


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Cannabis

Rodedawg (OTC: RWGI) Launches TikTok Shop to Expand into Global E-Commerce Market

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Billion

Industrial Hemp Market Soars from $6.6 Billion to $25.7 Billion by 2034, Fueled by Sustainable Innovation

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industrial-hemp-market-soars-from-$66-billion-to-$25.7-billion-by-2034,-fueled-by-sustainable-innovation

Industrial Hemp Playing Key Role in Carbon Sequestration and Soil Remediation Aligning with Sustainable Farming Practices

ROCKVILLE, Md., June 12, 2024 /PRNewswire/ — Based on a new research report by Fact.MR, worldwide sales of Industrial Hemp Market are estimated to reach US$ 6.6 billion in 2024. By 2034, this market is anticipated to skyrocket to a staggering US$ 25.7 billion, driven by a steady CAGR of 14.5% from 2024 onward.

Demand for industrial hemp is skyrocketing as more and more industries recognize its versatile and sustainable properties. Once overlooked, this remarkable crop is now being embraced for its myriad uses across various sectors. From textiles and construction materials to biofuels and nutritional supplements, hemp’s applications are seemingly endless.

Environmentally conscious consumers are driving much of this demand, as hemp requires minimal pesticides and herbicides, making it an eco-friendly choice for sustainable farming. Its ability to sequester carbon dioxide and remediate contaminated soil further adds to its appeal. Moreover, hemp’s durability, lightweight nature, and renewable qualities make it an attractive alternative to traditional materials in manufacturing.

Request a Sample of this Report:
https://www.factmr.com/connectus/sample?flag=S&rep_id=3989

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As awareness of hemp’s benefits continues to spread, industries are investing in research and development to unlock its full potential. With its multi-faceted applications and sustainable credentials, industrial hemp is poised to become a cornerstone of the green economy, meeting the growing demand for environmentally responsible products and practices.

Key Takeaways from the Market Study:

  • Based on nature, sales of organic hemp are estimated to reach a valuation of $3.2 billion in 2024.
  • The market in Mexico is evaluated to expand at a CAGR of 13.6% from 2024 to 2034.
  • Revenue from sales of industrial hemp in East Asia is projected to reach $5.9 billion by the end of 2034.
  • The South Korean market is evaluated to reach a valuation of $1.4 billion by the end of 2034.
  • North America is analyzed to hold a global market share of 24.3% by 2034.

“Use of industrial hemp in textiles, medicines, and food, coupled with global sustainability trends, is creating opportunities for suppliers. Governments worldwide are collaborating to boost global hemp distribution,” says a Fact.MR analyst.

Increasing Awareness of Therapeutic Potential of Hemp in Medical Applications

Once relegated to the fringes, industrial hemp is rapidly emerging as a sustainable wonder crop, fueling a wave of cutting-edge innovations across diverse industries. As researchers and entrepreneurs unlock its vast potential, hemp is proving to be a versatile and eco-friendly resource, paving the way for exciting new products and applications.

The automotive industry is also exploring the use of hemp fibers as a reinforcement material for lighter, stronger, and more sustainable car parts. These natural fiber composites could reduce vehicle weight, improving fuel efficiency and reducing emissions.

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In the field of biotechnology, scientists are harnessing the unique properties of hemp to develop innovative products. For instance, researchers are exploring the use of hemp-derived compounds, such as cannabidiol (CBD), for their potential therapeutic applications in various medical conditions.

Japan’s Industrial Hemp Market Poised for Rapid Growth

The industrial hemp market in Japan is projected to grow at a compound annual growth rate (CAGR) of 15.1% from 2024 to 2034, with the country expected to hold a 29.4% market share by the end of the period.

Increased investment in research is crucial for unlocking the full potential of industrial hemp. Research efforts may focus on improving hemp genetics for higher yield and quality, optimizing cultivation practices, and exploring innovative applications such as advanced nanomaterials or pharmaceuticals. This investment fosters innovation and establishes a foundation for the hemp industry’s long-term growth and competitiveness in an ever-evolving market.

Get Customization on this Report for Specific Research Solutions:
https://www.factmr.com/connectus/sample?flag=RC&rep_id=3989

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Expanding Opportunities in the United States Industrial Hemp Market

The industrial hemp market in the United States offers abundant opportunities for stakeholders to broaden their product portfolios. Beyond traditional uses like textiles and oils, there is significant potential for hemp-based products to evolve into biodegradable polymers, eco-friendly packaging, and even biofuels. This diversification, a prominent trend in the industrial hemp market, not only targets emerging markets but also positions hemp as a versatile and sustainable resource with applications across various industries.

More Valuable Insights on Offer:

Fact.MR, in its new offering, presents an unbiased analysis of the industrial hemp market for 2019 to 2023 and forecast statistics for 2024 to 2034.

The study divulges essential insights into the market based on nature (organic, conventional), product type (fiber, seeds), and end use (food & beverages, consumer textiles, personal products, industrial applications, hemp CBD, supplements, other consumer products), across seven major regions of the world (North America, Latin America, Eastern Europe, Western Europe, East Asia, South Asia & Pacific, and MEA).

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Check out More Related Studies Published by Fact.MR Research:

Hemp-Based Products Market is expected to reach $1.8 billion in 2023 and jump to a size of $16.2 billion by 2033.

Cannabis Infused Drinks Market is predicted to race ahead and end up at US$ 8.7 billion by 2032.

Ready-to-use Therapeutic Food Market to surge from $459.9M in 2024 to $800.6M by 2034, driven by 5.7% CAGR, marking substantial growth.

Specialty Fat and Oil Market will hit $85.94 billion by 2034 with a 4.6% Annual Growth Rate.

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Baking Ingredient Market is set to reach $41.48 billion by 2034, Driven by 6.5% Annual Growth Rate.

Infant Milk Formula Market: From Growth Spurts to Baby Boom – Projected Surge to $22.35 Billion by 2034.

About Us:

Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning.

With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape. 

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11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
Sales Team[email protected]
Follow Us: LinkedIn | Twitter | Blog

 

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Innocan

Innocan Pharma Announces Successful Preliminary Safety Evaluation of LPT-CBD in Minipigs

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HERZLIYA, Israel and CALGARY, AB, June 11, 2024 /PRNewswire/ — Innocan Pharma Corporation (CSE: INNO) (FSE: IP4) (OTCQB: INNPF) (“Innocan” or the “Company”), a pioneer in the pharmaceutical and biotechnology industries, is pleased to announce the success and conclusion of a preliminary safety evaluation of Innocan’s single injection and sustained-release LPT-CBD conducted on minipigs. The animals demonstrated excellent drug tolerance and did not exhibit any drug-related adverse events.

 

 

Recognized by the FDA as an excellent model for toxicology, small breeds of miniature domestic pigs known as minipigs share strong similarities with humans in crucial aspects such as drug metabolism, skin structure, genetics, and physiological mechanisms. In this preliminary safety study, minipigs received a single subcutaneous injection of LPT-CBD and were closely monitored for pharmacokinetics and basic safety parameters over one month. Encouragingly, the animals all exhibited good drug tolerance and did not manifest any drug-related adverse reactions.

“We are thrilled with these findings, which further underpin the safety profile of LPT-CBD following a single injection,” commented Dr. Eyal Kalo, the R&D Director of Innocan Pharma. “With each new data point collected for LPT-CBD, we make significant strides in our quest to revolutionize patient care through sustained-release therapy. Our efforts to continuously gather data to fully characterize LPT-CBD are paramount in our journey towards its ultimate approval.”

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Professor Chezy Barenholz the CSO of Innocan Pharma added, “These results are immensely gratifying and hold significant promise as they highlight the characteristics of LPT-CBD in a physiological setting similar to humans.”

The study involved administering three ascending doses of LPT-CBD via subcutaneous injection in minipigs, followed by comprehensive monitoring of pharmacokinetics and safety parameters for 28 days. Throughout the study, the minipigs demonstrated excellent drug tolerance, as evidenced by blood clinical parameters whithin normal range, healthy appetite, and normal behavior. These findings are consistent with prior safety evaluations conducted with LPT-CBD on diverse animal models including goats and dogs, affirming the drug’s favorable tolerability profile following both single and repeated use.

Grant of Restricted Share Units                                                                                                 

The Company has granted an aggregate of 290,000 restricted share units (each, an “RSU“) to consultants. Each RSU entitles the recipient to receive one common share of the Company (a “Common Share“) on vesting. A total of 150,000 RSUs vest on May 30, 2024, and 140,000 RSUs vest on September 30, 2024. The RSUs and the underlying Common Shares are subject to a statutory hold period of four months and one day expiring on October 1, 2024.

Innocan also announces that it granted 2,380,000 stock options to employees and consultants to the Company. These options have a strike price of $0.28, with various vesting periods up to 12 months. All options expire on May 30, 2029.

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About Innocan Pharma:

Innocan is a pharmaceutical tech company that operates under two main segments: Pharmaceuticals and Consumer Wellness. In the Pharmaceuticals segment, Innocan focuses on developing innovative drug delivery platform technologies comprises with cannabinoids science, to treat various conditions to improve patients’ quality of life. This segment involves two drug delivery technologies: (i) LPT CBD-loaded liposome platform facilitating exact dosing and the prolonged and controlled release of CBD into the blood stream. The LPT delivery platform research is in the preclinical trial phase for two indications: Epilepsy and Pain Management. In the Consumer Wellness segment, Innocan develops and markets a wide portfolio of innovative and high-performance self-care products to promote a healthier lifestyle. Under this segment Innocan has established a Joint Venture by the name of BI Sky Global Ltd. that focuses developing on advanced targeted online sales. https://innocanpharma.com/

Contact Information:

For Innocan Pharma Corporation:
Iris Bincovich, CEO
+1 5162104025
+972-54-3012842
+442037699377
[email protected] 

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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Caution Regarding Forward-Looking Information

Certain information set forth in this news release, including, without limitation, the Company’s plans for human trials of its LPT-CBD platform, is forward-looking information within the meaning of applicable securities laws. By its nature, forward-looking information is subject to numerous risks and uncertainties, some of which are beyond Innocan’s control. The forward-looking information contained in this news release is based on certain key expectations and assumptions made by Innocan, including expectations and assumptions concerning the anticipated benefits of the products, satisfaction of regulatory requirements in various jurisdictions and satisfactory completion of production and distribution arrangements.

Forward-looking information is subject to various risks and uncertainties that could cause actual results and experience to differ materially from the anticipated results or expectations expressed in this news release. The key risks and uncertainties include but are not limited to: global and local (national) economic, political, market and business conditions; governmental and regulatory requirements and actions by governmental authorities; and potential disruption of relationships with suppliers, manufacturers, customers, business partners and competitors. There are also risks that are inherent in the nature of product distribution, including import/export matters and the failure to obtain any required regulatory and other approvals (or to do so in a timely manner). The anticipated timeline for entry to markets may change for a number of reasons, including the inability to secure necessary regulatory requirements, or the need for additional time to conclude and/or satisfy the manufacturing and distribution arrangements. As a result of the foregoing, readers should not place undue reliance on the forward-looking information contained in this news release. A comprehensive discussion of other risks that impact Innocan can be found in Innocan’s public reports and filings which are available under Innocan’s profile at www.sedarplus.ca.

Readers are cautioned that undue reliance should not be placed on forward-looking information as actual results may vary materially from the forward-looking information. Innocan does not undertake to update, correct or revise any forward-looking information as a result of any new information, future events or otherwise, except as may be required by applicable law.

Logo: https://mma.prnewswire.com/media/2046271/3968398/Innocan_Pharma_Corporation_Logo.jpg

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