/home/grassnews/public_html/wp-content/themes/zox-news/parts/post-single.php on line 153
">
Warning: Undefined array key 0 in /home/grassnews/public_html/wp-content/themes/zox-news/parts/post-single.php on line 153
Warning: Attempt to read property "cat_name" on null in /home/grassnews/public_html/wp-content/themes/zox-news/parts/post-single.php on line 153
Core Gold Shareholder Keith Piggott Files Proxy Circular; Issues Letter Urging Fellow Shareholders to Vote Against the Value-Destructing Titan-Core Deal
-
Shareholders are encouraged to vote AGAINST coercive Titan-Core
deal on the GOLD Proxy well in advance of the voting deadline on June
7, 2019 at 5:00pm (Vancouver Time) -
Questions? Need Help Voting? Contact Kingsdale Advisors at
1-866-851-4179 or contactus@kingsdaleadvisors.com
QUITO, Ecuador–(BUSINESS WIRE)–Keith Piggott, owning approximately 7% of the issued and outstanding
shares of Core Gold Inc. (“Core Gold” or the “Company“)
(TSXV: CGLD, OTCQX: CGLDF) announced today that he has filed a proxy
circular (the “Circular”) and form of Proxy in relation to the
Company’s upcoming Special Meeting of the shareholders, warrant holders
and option holders on June 12, 2019 (the “Meeting”).
Mr. Piggott is urging his fellow shareholders to join him in voting
AGAINST the value-destructing plan of arrangement pursuant to which
Titan Minerals Ltd. (“Titan”) will acquire all of the issued and
outstanding commons shares of Core Gold in a dilutive all-share deal.
The Circular, which will be mailed to shareholders and is available on
the Company’s SEDAR profile, includes a letter to shareholders
highlighting Titan’s disturbing track record of destroying shareholder
value, misleading disclosures, and environmental damage. The letter also
addresses Core Gold’s board of directors’ obstruction of other value
maximizing transactions.
The letter is included below in its entirety.
VOTE TODAY
Mr. Piggott is aware of the desperate and misleading press release from
Core Gold issued this morning.
As securityholders are well aware, the Titan-Core Gold plan of
arrangement requires the support of 66 2/3% of total votes at the
Meeting. To date, Mr. Piggott has received indications of support from
enough securityholders to block this deal.
Titan and Core Gold’s attempt to bully securityholders into voting for
this deal will not stand.
As their desperation increases and our support grows, Mr. Piggott
encourage all shareholders to vote AGAINST the proposed
transaction on the GOLD proxy today.
Discard any proxy you receive from Core Gold. Even if you have already
voted on the proxy card sent to you by Core Gold, you can still change
your vote using the enclosed GOLD proxy. Only your latest dated proxy
will count.
The deadline to vote is Friday, June 7, 2019 at 5:00 pm (Vancouver time).
If you have any questions, or need help voting, contact Kingsdale
Advisors at 1-866-851-4179 or contactus@kingsdaleadvisors.com.
There is a team standing by to assist you.
LETTER TO SHAREHOLDERS
Dear fellow Shareholder,
Shareholders of Core Gold Inc. (“Core Gold” or the “Company”) are being
asked to vote on a coercive paper for paper deal with Titan Minerals
Ltd. (“Titan”) which, I, Keith Piggott, one of the largest shareholders,
director, and former CEO of Core Gold, believe will be a TITAN-IC
DISASTER and destroy your investment.
Pursuant to the proposed Arrangement with Titan (the “Proposed
Arrangement”), Core Gold shareholders will exchange their Core Gold
shares for Titan’s inflated paper, handing over our world-class assets
for highly diluted ownership in an Australian-based company with
questionable governance, environmental and ethical practices, a
notorious track record of depleting—NOT creating—value and no mining
experience in Ecuador, the location of Core Gold’s core assets.
In order for the Titan deal to happen, however, Core Gold needs the
support of 66 2/3 of all the votes cast on the special resolution at the
meeting. Worried as they are about the prospect of securing their vote,
some members of the Core Gold board have resorted to disgraceful tactics
including calling shareholders to promise to buy back their shares after
the transaction is approved.
They have also claimed that the Company will collapse if the deal is
voted down. This is false.
There are far better options for the Company, and I have an achievable
plan to restore Core Gold and create meaningful value.
Earlier this year, I had brought to the Core Gold board of directors a
value-maximizing opportunity from an international firm with
exploration, mining, processing and smelting operations, primarily
focusing on the gold industry.
The firm, listed on a major international stock exchange with a market
capitalization above US $3 billion, agreed to a CDN $4,000,000
subscription for 8,888,888 common shares of Core Gold at CDN $0.45 per
share and was prepared to place an additional US$12 million at C$0.45 in
equity, US$20 million for a 20% initial earn-in into Core Gold’s Dynasty
Gold project, and invest a further US$62 million to build a 2,000 ton
per day underground mine leaving Core Gold with a 40% carried interest.
Unfortunately, the Core Gold board sabotaged the deal in favour of the
Titan deal.
This international firm is still interested in investing in Core Gold,
under similar terms, IF the current board and management —namely CFO Sam
Wong, and directors Gregg Sedun, Leonard Clough, and Mark Bailey (the
“Core Four”)—are no longer involved with the Company.
In addition, in my position as a shareholder, I have been contacted by
four other parties who are interested in investing in Core Gold, in
transactions that are far superior to the Titan deal, with better terms
and better value.
Together, we can stop the coercive Titan deal and choose a different
path; a path to realize the true value of Core Gold’s outstanding assets.
To do so, please vote AGAINST the Proposed Arrangement on the enclosed
GOLD proxy well in advance of the voting deadline of Friday, June 7,
2019 at 5:00 pm (Vancouver time).
Every vote counts, no matter how many shares you own.
Momentum Against the Titan-Core Deal Builds as New Revelations of
Titan’s Value-Destructing Track-Record Surface
Many long-term shareholders have reached out to me about their concerns
about our Company, and the awful Titan deal.
Like you, they invested in Core Gold because of our outstanding assets
in Ecuador and the opportunity to build significant and sustained value
for all shareholders. Now, the Core Four have put their interests
ahead of minority shareholders and are tossing Core Gold’s great
potential away.
Consummating the Titan deal would be a TITAN-IC DISASTER for the
shareholders of Core Gold.
Here’s why:
-
Titan, led by Executive Chairman Matthew Carr, has a track record
of destroying shareholder value.-
Titan’s share price has dramatically declined over the past year.
Since May 11, 2018, Titan shares have dropped by approximately
44.12%. -
Titan is not profitable. A review of
Titan’s income statements (2010-2018), show that Titan has lost
money every year, except for 2017 where Titan received a one-time
windfall for a loan forgiveness.
-
Titan’s share price has dramatically declined over the past year.
-
Paper for paper deal with Titan’s paper is NOT a premium offer for
Core Gold shareholders.-
Titan’s shares are highly illiquid, and the company has a history
of dilutive share issuances. Since 2018, Titan has increased its
issued capital by 56.8%, adding almost 1 billion shares. If, the
Proposed Agreement is approved by shareholders and Titan does not
consolidate its share capital before the Proposed Arrangement
completes, Titan’s share count will jump to a whopping
6,746,302,678 shares (that’s 6.7 Billion shares!).
-
Titan’s shares are highly illiquid, and the company has a history
-
Titan’s assets pale in comparison with Core Gold’s assets.
-
Titan has a 150 tpd tolling mill that has yet to receive final
approvals. -
Compare that to Core Gold, which has:
- a premium Copper Duke property, permitted for drilling,
-
the Linderos property with major structures and high-grade
gold, - a 2,000 tpd nameplate capacity fully permitted mill,
-
a fully permitted open pit mine on the Dynasty Goldfield
Project with current resources of 2.1MM oz gold, and -
at least 13 known porphyry targets on these concessions with
surface showings similar to Sol Gold, which is further north
along the same mineral belt.
-
Titan has a 150 tpd tolling mill that has yet to receive final
-
Titan’s management has a history of misleading disclosures that
should raise the ire of securities regulators.-
In 2017, Titan issued a prospectus for an offering in Australia
falsely claiming that a well-respected mining professional—who was
instrumental in the discovery of Yanacocha an approximately
50-million ounce gold deposit—was their CEO. -
Titan has consistently misled potential investors about its
assets. For example, in fundraising documents published in 2017,
May 2018, Feb. 2019, Titan described its Torrecillas Project as an
“advanced exploration” project. And now, in its most recent
financial statements and a May 2019 investor presentation, Titan
says that Torrecillas is an “early-stage exploration project.”
-
In 2017, Titan issued a prospectus for an offering in Australia
-
Titan’s history in Peru is a tale of lies, deceit, and questionable
practices.-
News reports indicate that individuals allegedly linked to Titan
have been involved in questionable activities related to an
incident involving firearms at the Tulín plant in Perú where
people were wounded. -
The same news reports allege environmental violations at the Tulin
plant relating to spillage of toxic chemicals and tails. . These
investigations were found to be true and several fines were levied
on Tulin Gold (Titan) by the local authorities, over a period of
several years. I have also confirmed,
through notarial sworn statements of witnesses, that Titan has
tried to conceal environmental damage at the Tulin processing
plant by surreptitiously burying cyanide tailings outside the
plant area. -
It is also reasonable to assume that the ASX is not aware of these
problems.
-
News reports indicate that individuals allegedly linked to Titan
-
Titan has become too toxic to partner with.
-
The allegations outlined above makes Titan a radioactive stock to
any well-governed fund. -
Associating Core Gold’s assets with Titan’s unacceptable
environmental, safety and occupational health record, would make
us a pariah in Ecuador, a country that prides itself in following
and enforcing high ethical and environmental standards. -
In the unlikely event that Core and Titan receive shareholder
approvals for the Proposed Arrangement, Titan, will not be able to
be rid of its past sins. The company will be mired in litigation
and will be pilloried as the unacceptable face of mining.
-
The allegations outlined above makes Titan a radioactive stock to
CORE GOLD DIRECTORS – WHAT ARE THEIR MOTIVES?
Shareholders are appropriately asking why the Core Gold board of
directors are handing over their assets to Titan, a company with such a
revolting track record.
Are they ignoring Titan’s misdeeds, or do they have their heads in the
sand?
Why haven’t the Core Four done any further due diligence given the
latest revelations?
Clearly, the board of directors is looking after its own interests not
the interests of all shareholders as evidenced by the following:
-
Insiders will continue to have jobs with Titan. Core Gold
directors Mark Bailey, Gregg Sedun, and Javier Reyes will all be
directors of the new company and are therefore incentivized to promote
the deal. Luis Zapata, who is working for Core Gold in an IR capacity,
is promoting the Titan-Core deal incentivized by being given 180,000
options by the Company. Notably, he had told several people that he
would have received a $500,000 finder’s fee on the first Titan
proposal to Core Gold in December 2018. Is Mr. Zapata receiving a
finder’s fee for this deal?
This appears to
be a common thread whereby directors and some employees of Core Gold
are putting their interests ahead of shareholder interests.
-
Core Gold’s board and management obstructed a less dilutive and
more value-enhancing deal. I had initially voted in favour of the
Titan deal, in February 2019, strictly because of a 60-day go-shop
provision and a reasonable break-fee of $500,000 which provided the
Company a legitimate opportunity to solicit superior offers. That’s
what I did: A short time later, I brought to the board of directors a
less dilutive deal with an international mining company with a market
cap of over $3 billion and approximately $300 million in the bank,
that would have saved the Company. What did the Core board do? They
terminated me “for cause”, increased their Titan break fee to $3
million and terminated the go-shop period. Does this sound like a
board that puts shareholder interests first? -
Stacking the vote in favour of the Titan deal: The board of
directors have fired me as CEO and stripped me of my options because I
won’t go along with the Titan deal. They threatened me by saying that
if I voted for the Titan deal I could keep my options, and if I didn’t
support their deal I would be fired for cause. I said it sounded like
a threat and refused.
Meanwhile they’ve also taken the following steps to increase their vote
count in favour of the Proposed Arrangement:
-
They are allowing warrants and options, excluding mine, to be voted,
even though they have not been exercised and without requiring a
separate vote of shareholders only – which is contrary to the law. -
They are converting debt to shares for the purposes of diluting your
vote.
-
The Core Gold board of directors appears to want to waive Titan’s
condition of raising AUD$20 million. In the Company’s February 24,
2019 press release, it specifies that Titan commit to a minimum AUD$20
million equity financing as a condition of the Titan-Core deal. For an
unknown reason, Core Gold has opened the door to abandoning this
requirement.
“Core may choose to waive any or all of the above conditions and
complete the arrangement if Titan has not completed the Titan Private
Placement at all or if the gross proceeds of the Titan Private Placement
are less than A$20 Million.”
– Core Gold’s Management Information Circular (Page 43)
Why would they do this? If this financing condition is waived
By focusing solely on their narrow interests and ignoring the
questionable track record of Titan, the Core Gold board of directors are
destroying value for the majority of shareholders who cannot use board
privilege to benefit their own interests.
It is of great concern to me, as a shareholder of Core Gold, that the
board of directors has yet to provide its position on the many
misrepresentations that Titan has made including claims of its
non-existent CEO while raising AUD$6 million or contradictory
disclosures about its Torrecillas project while raising AUD$11 million.
And this very week, days after news surfaced about Titan’s long,
miserable environmental track record in Perú, the Company’s board of
directors again remain silent.
Why are they ignoring these allegations of illegal acts?
I encourage my fellow directors, and all shareholders, to carefully
ponder on the implications of proceeding with the Titan deal in light of
the facts uncovered and the allegations that have surfaced.
As they say…where there is smoke, there is fire.
THE CORRECT PATH TO RESTORE VALUE AT CORE GOLD
I have been fighting hard to return Core Gold from certain bankruptcy,
by complying with my fiduciary duty to protect ALL shareholders, rather
than the insiders.
When I took over as CEO at Core Gold in September 2016 the Company was
two weeks away from being declared bankrupt and losing all its
concessions. In just two years, during my tenure, the Company’s debt
owed to former employees, the tax office and the social security office
was mostly extinguished. Of the remaining debt, trade payables and loans
can be negotiated or deferred until a major value-maximizing transaction
comes to fruition.
I believe we can continue to manage cash flows while we pursue a value
maximizing alternative to the Titan Deal—among the many superior
alternatives available to us.
As mentioned above, I am continuing to pursue and explore strategic
alternatives that will benefit Core Gold shareholders in both the short
and long-term. In my capacity as a shareholder, I have been approached
by at least five different parties interested in Core Gold and its
assets. These are credible companies considering superior proposals
including mergers, reverse mergers, loans, and gold streaming agreements.
This interest demonstrates the strength of our assets.
Immediately, following the shareholder vote on June 12, I will work with
my advisory group—consisting of international mining professionals to
solidify proposals and present them to shareholders.
We can restore value to Core Gold.
But the first step is to say NO to the Titan deal.
I encourage all shareholders to join me and vote AGAINST the Proposed
Arrangement with Titan and avoid a TITAN-IC DISASTER that will
destroy the value in our Company.
Sincerely,
“Keith Piggott”
KEITH PIGGOTT
ADVISORS
Mr. Piggott has retained Koffman Kalef LLP and Farris, Vaughan, Wills &
Murphy LLP as his legal advisors and Kingsdale Advisors as his strategic
shareholder, communications and proxy advisor.
ABOUT KEITH PIGGOTT
Keith Piggott is a seasoned mining developer and operator with over 50
years of experience in Africa, Australia, Mexico and South America. Mr.
Piggott as CEO, and as an investor, rescued Dynasty Metals and Mining
from certain bankruptcy and the loss of all its assets in 2016. He has
worked diligently for over two years to take the company, as Core Gold
Inc., from a $5 million market capitalization to over $40 million market
capitalization before the Titan proposal. He can be contacted at kpiggott100@gmail.com,
by phone at 520-247-5753.
Contacts
For further information, please contact:
Keith Piggott
Telephone:
(520) 247-5753
Email: kpiggott100@gmail.com
For media inquiries, please contact:
Ian Robertson, Executive Vice
President, Communication Strategy
Kingsdale Advisors
Telephone:
(416) 867-2333
Cell: (647) 621-2646
Warning: Undefined array key 0 in /home/grassnews/public_html/wp-content/themes/zox-news/parts/post-single.php on line 493
Warning: Attempt to read property "cat_ID" on null in /home/grassnews/public_html/wp-content/themes/zox-news/parts/post-single.php on line 493
Innocan
Innocan Pharma Submits Investigational New Animal Drug Application to FDA’s Veterinary Center
HERZLIYA, Israel and CALGARY, AB, July 26, 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 that the FDA’s Center for Veterinary Medicine (CVM) has granted the Company a sponsor fee waiver and assigned an Investigational New Animal Drug (INAD) number for its LPT-CBD (Liposome Platform Technology-Cannabidiol) product. This represents a significant step for the Company, as an INAD designation facilitates correspondence and data exchange with CVM to support LPT-CBD development as a new veterinary drug.
The Company further announced that following the assessment of LPT-CBD’s scientific package, the CVM recognized Innocan’s contribution to pursuing innovative animal drug products and technology and granted the company a sponsor fee waiver for fiscal year 2024.
Innocan’s LPT-CBD is a proprietary drug delivery platform designed to provide prolonged-release CBD for chronic pain and well-being management in animals. Over the past year, repeated administration of LPT-CBD in dogs and other animals has demonstrated both efficacy and tolerability, providing sufficient evidence for the INAD application.
“We are thrilled by CVM’s response,” said Prof. Chezy Barenholz, CSO of Innocan Pharma. “The granted INAD will allow us to advance the investigational studies of LPT-CBD and share knowledge to support future discussions with CVM on LPT-CBD’s development plan. Moreover, the fee waiver, granted by CVM, supports our development and pursuit of innovative animal drug products and technology, further validating our approach and potential impact in veterinary medicine.”
Dr. Eyal Kalo, R&D Director at Innocan, added, “LPT-CBD is a unique technology that has proven itself worthy of the INAD fee waiver granted by CVM. This will streamline our efforts to deliver a unique solution for chronic pain management to the animal market.”
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
info@innocanpharma.com
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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
View original content:https://www.prnewswire.co.uk/news-releases/innocan-pharma-submits-investigational-new-animal-drug-application-to-fdas-veterinary-center-302207435.html
Cannabis
Verano Announces the Opening of Zen Leaf Fairless Hills, the Company’s Newest Affiliated Dispensary in Pennsylvania, in Prime New Location
- Zen Leaf Fairless Hills, the Company’s newest affiliated dispensary in Pennsylvania, relocated from its former home in Chester to 203 Lincoln Highway, a busy thoroughfare with daily traffic of over 17,000 vehicles per day1
- As the first medical cannabis dispensary in the city, Zen Leaf Fairless Hills will offer an elevated experience for area patients, including increased convenience and accessibility with numerous point-of-sale stations and kiosks for seamless in-store browsing and ordering
- Verano’s active operations span 13 states, comprised of 142 dispensaries and 13 cultivation and processing facilities with more than 1 million square feet of cultivation capacity
CHICAGO, July 26, 2024 (GLOBE NEWSWIRE) — Verano Holdings Corp. (Cboe CA: VRNO) (OTCQX: VRNOF) (“Verano” or the “Company”), a leading multi-state cannabis company, today announced the opening of Zen Leaf Fairless Hills in Pennsylvania on Friday, July 26th, following a ceremonial ribbon cutting at 11 a.m. local time. Zen Leaf Fairless Hills is located at 203 Lincoln Highway and will be open Monday through Saturday from 9 a.m. to 8 p.m. and Sunday from 10 a.m. to 6 p.m. local time.
The dispensary is located in Bucks County, the fourth largest county in the Commonwealth with a total population of over 630,0002 residents. To increase accessibility and convenience, Zen Leaf Fairless Hills features large in-store kiosks and numerous point-of-sale stations to enhance the browsing and ordering experience for patients. To celebrate the grand opening of Zen Leaf Fairless Hills and following a ceremonial ribbon cutting, patients will be greeted with complimentary deals and doorbusters on featured branded products.
“We are excited to bring the Zen Leaf experience to local patients in Fairless Hills, where our talented team members will continue to deliver hospitality-driven care and top-quality products for local patients,” said George Archos, Verano Founder and Chief Executive Officer. “As the Pennsylvania medical cannabis patient population continues to grow, we are grateful for the opportunity to deepen our roots in Bucks County at our newest Zen Leaf location in the Commonwealth, and look forward to providing a warm and welcoming environment for current and future patients.”
Zen Leaf Fairless Hills adds another convenient outlet for Philadelphia area patients, and solidifies Verano’s footprint in the state as one of the Company’s 18 affiliated Pennsylvania dispensaries. Verano’s Pennsylvania operations also include a state-of-the-art 62,000 square foot cultivation and processing facility in Chester, where the Company produces its signature Verano Reserve flower and Troches, concentrates and vapes; (the) Essence and Savvy flower and extracts; and Avexia RSO cannabis oil and topicals. For additional convenience and accessibility, patients can choose to order ahead at ZenLeafDispensaries.com for express in-store pickup.
About Verano
Verano Holdings Corp. (Cboe CA: VRNO) (OTCQX: VRNOF), one of the U.S. cannabis industry’s leading companies based on historical revenue, geographic scope and brand performance, is a vertically integrated, multi-state operator embracing a mission of saying Yes to plant progress and the bold exploration of cannabis. Verano provides a superior cannabis shopping experience in medical and adult use markets under the Zen Leaf™ and MÜV™ dispensary banners, including Cabbage Club™, an innovative annual membership program offering exclusive benefits for cannabis consumers. Verano produces a comprehensive suite of high-quality, regulated cannabis products sold under its diverse portfolio of trusted consumer brands including Verano™, (the) Essence™, MÜV™, Savvy™, BITS™, Encore™, and Avexia™. Verano’s active operations span 13 U.S. states, comprised of 13 production facilities with over 1,000,000 square feet of cultivation capacity. Learn more at Verano.com.
Contacts:
Media
Verano
Steve Mazeika
VP, Communications
Steve.Mazeika@verano.com
Investors
Verano
Julianna Paterra, CFA
VP, Investor Relations
Julianna.Paterra@verano.com
Forward Looking Statements
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company’s beliefs regarding future events, plans, strategies, or objectives, many of which, by their nature, are inherently uncertain and outside of the Company’s control. Generally, such forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “future”, “scheduled”, “estimates”, “forecasts”, “projects,” “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases, or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”. Forward-looking statements involve and are subject to assumptions and known and unknown risks, uncertainties, and other factors which may cause actual events, results, performance, or achievements of the Company to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking statements herein, including, without limitation, the risk factors described in the Company’s annual report on Form 10-K for the year ended December 31, 2023, its quarterly report on Form 10-Q for the quarter ended March 31, 2024 and any subsequent quarterly reports on Form 10-Q, in each case, filed with the U.S. Securities and Exchange Commission at www.sec.gov. The Company makes no assurances and cannot predict the outcome of all or any part of the on-going litigation with Goodness Growth referenced in this press release, including whether the Company will prevail on its Notice of Application and its counterclaim, or whether Goodness Growth will prevail on its claim for damages against the Company. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information or forward-looking statements that are contained or referenced herein, except as may be required in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to the Company or persons acting on its behalf is expressly qualified in its entirety by this notice regarding forward-looking information and statements.
###
1 Pennsylvania Department of Transportation
2 United States Census Bureau
Cannabis
Unlocking New Horizons in Health: TNR, The Niche Research Reveals the Transformative Power of Minor Cannabinoids
Wilmington, Delaware, July 25, 2024 (GLOBE NEWSWIRE) — Minor cannabinoids refer to the lesser-known compounds found in the cannabis plant, distinct from the well-known THC (tetrahydrocannabinol) and CBD (cannabidiol). While THC and CBD dominate the market, minor cannabinoids such as CBG (cannabigerol), CBC (cannabichromene), and CBN (cannabinol) are gaining attention for their potential therapeutic benefits. These compounds are extracted from both marijuana and hemp plants, with varying legal restrictions depending on their THC content. The minor cannabinoids market is poised for significant growth, driven by increasing consumer awareness and demand for alternative health and wellness products. As regulatory environments around cannabis products evolve, companies are exploring the potential of minor cannabinoids in various applications, including pharmaceuticals, nutraceuticals, cosmetics, and food and beverages.
Minor cannabinoids are being researched for their potential therapeutic effects, including anti-inflammatory, analgesic, and neuroprotective properties. This versatility facilitates product diversification in various industries. Companies are investing in research and development to create novel formulations and delivery methods for minor cannabinoids. This includes nano-emulsions, encapsulation technologies, and controlled-release systems to enhance bioavailability and efficacy. For example, in January 2022, CBDA + CBGA Tincture a new product was launched by Hometown Hero CBD. This 30ml tincture contains 600mg each of CBGA, CBDA, CBG, and CBD. Derived from hemp, the cannabinoids in this tincture comply with legal requirements across all 50 states in the USA. There is an increasing consumer preference for natural as well as plant-based remedies, which in turn is driving the demand for cannabinoid-infused products. This trend is particularly strong among younger demographics seeking alternatives to traditional pharmaceuticals. Evolving regulatory frameworks, particularly in regions like North America and Europe, are creating opportunities for legal market expansion. Regulatory clarity is crucial for market participants to navigate compliance and market entry.
Global Minor Cannabinoids Market: Key Datapoints
|
Market Value in 2023 |
US$ 17.8 Bn |
|
Market Value Forecast by 2034 |
US$ 42.3 Bn |
|
Growth Rate
|
8.2% |
|
Historical Data
|
2016 – 2022 |
|
Base Year
|
2023 |
|
Forecast Data
|
2024 – 2034 |
Increasing consumer interest in health and wellness products, coupled with the perceived therapeutic benefits of cannabinoids, is a major driver of market growth. Progressive cannabis legalization in various parts of the world, including the United States and parts of Europe, is expanding the addressable market for minor cannabinoids. Significant investments in research and development by pharmaceutical and biotechnology companies are accelerating product innovation and clinical trials. The market remains fragmented with opportunities for new entrants and niche players to introduce specialized products catering to specific consumer needs.
The COVID-19 pandemic initially disrupted supply chains and retail channels for minor cannabinoids products. However, the crisis also underscored the importance of health and wellness, leading to increased interest in natural remedies, including cannabinoids. As economies recover, the market is expected to rebound stronger.
The geopolitical tensions, such as the Russia-Ukraine conflict, have also affected global markets, including the minor cannabinoids sector. Fluctuating currency values, supply chain disruptions, and geopolitical uncertainty have impacted production and distribution channels. However, the long-term impact will depend on geopolitical developments and their influence on global trade and regulatory environments.
The minor cannabinoids market presents significant opportunities for growth and innovation, driven by evolving consumer preferences, regulatory advancements, and expanding research initiatives. Companies that can navigate regulatory complexities, invest in research and development, and respond to shifting consumer trends are well-positioned to capitalize on this emerging market. As the market matures, collaboration across sectors and regions will be crucial in unlocking the full potential of minor cannabinoids in various industries worldwide.
Global Minor Cannabinoids Market: Key Takeaways of the Report
- Cannabigerol (CBG) segment by product type is expected to grow at a CAGR of 6.7% in the minor cannabinoids market due to increasing research highlighting its potential therapeutic benefits, including anti-inflammatory, antimicrobial, and neuroprotective properties. As consumer awareness grows and regulatory environments become more favorable, there is heightened interest in CBG-based products for their diverse health applications, ranging from skincare to pharmaceutical formulations, driving sustained market demand and expansion.
- Pharmaceutical segment by application, leads the minor cannabinoids market with a significant revenue share of 35.8% owing to growing recognition of cannabinoids’ potential in therapeutic applications. Cannabinoids like CBD, CBG, and others show promise in treating conditions such as epilepsy, chronic pain, and anxiety disorders, backed by increasing clinical research and favorable regulatory developments. Pharmaceutical companies are investing heavily in cannabinoid-based drug development, driving market growth as they seek to capitalize on these compounds’ efficacy and market potential in addressing unmet medical needs.
- In 2023, Latin America is anticipated as fastest growing region in the global minor cannabinoids market due to evolving regulatory landscapes favoring cannabis legalization and cultivation. This shift is fostering a burgeoning industry infrastructure for cannabis extraction and product development. Additionally, increasing consumer acceptance of cannabinoid-based products for medicinal and wellness purposes is driving market expansion. With a vast potential consumer base and supportive regulatory frameworks, Latin America presents significant growth opportunities for companies seeking to enter or expand within the minor cannabinoids market.
Key Development:
- In December 2023, Rare Cannabinoid Company introduced Uplift Gummies infused with THC and THCV. These gummies combine the relaxing properties of Delta-9-THC with the energizing and appetite-controlling effects of CBD and THCV.
- In October 2022, High Tide Inc., a cannabis retailer, announced that its Colorado-based subsidiary, NuLeaf Naturals, had launched plant-based softgels and full-spectrum multicannabinoid oil in Manitoba. The products feature CBC, CBD, CBG, Delta-9 tetrahydrocannabinol (Delta 9), and CBN.
Browse Related Category Reports
Global Minor Cannabinoids Market:
- Aurora Europe GmbH
- BulKanna
- CBD. INC.
- Fresh Bros Hemp Company
- GCM Holdings, LLC (Global Cannabinoids)
- GenCanna.
- High Purity Natural Products.
- Laurelcrest
- Mile High Labs
- PBG Global
- Rhizo Sciences
- ZERO POINT EXTRACTION, LLC
- Other Industry Participants
Global Minor Cannabinoids Market
By Product Type
- Cannabigerol (CBG)
- Cannabichromene (CBC)
- Cannabinol (CBN)
- Cannabidivarin (CBDV)
- Tetrahydrocannabutol (THCB)
- Tetrahydrocannabivarin (THCV)
- Tetrahydrocannabiphorol (THCP)
- Others
By Application
- Pharmaceutical
- Pain Management
- Mental Health
- Sleep Disorders
- Anti-inflammatory
- Others
- Nutraceuticals
- Cosmetics and Personal Care
- Food and Beverages
- Others
By Region
- North America (U.S., Canada, Mexico, Rest of North America)
- Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe)
- Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific)
- Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
- Latin America (Brazil, Argentina, Rest of Latin America)
Consult with Our Expert:
Jay Reynolds
The Niche Research
Japan (Toll-Free): +81 663-386-8111
South Korea (Toll-Free): +82-808- 703-126
Saudi Arabia (Toll-Free): +966 800-850-1643
United Kingdom: +44 753-710-5080
United States: +1 302-232-5106
Email: askanexpert@thenicheresearch.com
Website: www.thenicheresearch.com
-
Cannabis2 weeks agoIM Cannabis Shares Commence Trading on 6:1 Consolidated Basis
-
Cannabis2 weeks agoFractional Flow Reserve Market growing at a CAGR of 15.56% during the forecast period [2024-2030] – Exactitude Consultancy
-
Cannabis1 week agoBlank Rome Bolsters Energy Industry Team in Houston and Pittsburgh with Leading Transactional Group
-
Cannabis1 week agoManitoba Harvest Hemp Foods and Brightseed® Introduce New Coffee and Chocolate Flavors in Organic Bioactive Fiber Supplement for Gut Health
-
Cannabis5 days agoEurope Medical Cannabis Oil Market Set to Reach Valuation of USD 2,395.83 Million by 2032 | Astute Analytica
-
Cannabis4 days agoGlobal Agricultural Textiles Market Size To Worth USD 25.02 Billion By 2033 | CAGR of 4.70%
-
Cannabis2 days ago
Unlocking New Horizons in Health: TNR, The Niche Research Reveals the Transformative Power of Minor Cannabinoids
-
Cannabis23 hours ago
Verano Announces the Opening of Zen Leaf Fairless Hills, the Company’s Newest Affiliated Dispensary in Pennsylvania, in Prime New Location