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TILT Reports Record First Quarter 2019 Revenue

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Executed acquisitions and business integration to create one of
the industry’s leading end-to-end provider of products and services in
support of the rapidly growth North American cannabis industry

First Quarter Pro forma Revenue increased 169% year over year to
$40 million

CAMBRIDGE, Mass.–(BUSINESS WIRE)–TILT Holdings Inc. (“TILT” or the “Company”) (CSE: TILT) (OTCQB: SVVTF),
a leading provider of products and services to businesses operating in
the cannabis industry, today announced its financial results for the
first quarter of 2019 ended March 31, 2019. All financial information
presented in this release is in U.S. dollars, unless otherwise noted.

First Quarter 2019 Operational and Financial Highlights

  • First quarter pro forma1 revenue increased 169% year over
    year to $40 million.
  • Improved pro forma1 Adjusted EBITDA margin as a percentage
    of revenue by 330 basis points year over year to (18.4%).
  • Closed the acquisitions of Jupiter Research, Blackbird and Standard
    Farms, creating a comprehensive solutions provider to the cannabis
    industry.
  • Successfully launched manufacturing supply-chain partnerships in
    Massachusetts for third-party clients.
  • Launched on-demand direct-to-consumer cannabis delivery in the Greater
    Los Angeles area.
  • Expanded Jupiter distribution in California through integration with
    TILT’s software and supply chain services.
  • Successfully up-listed shares to the OTCQB Venture Market.
  • Named Mark Scatterday Interim Chief Executive Officer.

“We are pleased to report our first quarter as a consolidated company,
reflecting the strength of the business combination that has established
TILT as one of the largest revenue producing companies in the cannabis
industry. We have only begun to realize the synergies of our business
combination, which we expect to drive incremental revenue growth and
improved margins as we execute our business development and integration
strategies,” stated Mark Scatterday, Interim Chief Executive Officer.
“Our end-to-end, U.S.-focused cannabis businesses continue to scale and
we have assembled leading assets to drive leadership in cultivation and
production, consumer devices and packaged goods, and software and
services. Our near-term plans are to optimize the integration of our
businesses, foster an entrepreneurial culture grounded in accountability
and growth, allocate capital to the combined enterprise’s most promising
near- and long-term growth initiatives, fine-tune and improve
communication with all of our stakeholders and further augment our
operational team.”

 

First Quarter 2019 Financial Highlights

 
      Q1 2019     Q1 2018
Reported revenue     $34.4 million     $0.0 million
Pro forma revenue(1)     $39.6 million     $14.7 million
Gross profit     $7.5 million     $0.0 million
Pro forma gross profit(1)     $7.7 million     $3.9 million
Adjusted EBITDA     $(8.0) million     $(2.1) million
Pro forma Adjusted EBITDA(1)     $(7.3) million     $(3.2) million
       

(1) Represents the pro forma unaudited gross
revenue generated by TILT in the first quarter of fiscal 2019 and 2018
assuming the closing of the business combination (the “Business
Combination”) between Sea Hunter Therapeutics LLC, Briteside Holdings,
LLC, Baker Technologies, Inc. and Santé Veritas Holdings Inc., and the
acquisitions of Jupiter, Blackbird and Standard Farms occurred on
January 1, 2018.

Liquidity

The Company’s cash and cash equivalents at March 31, 2019 were $12.1
million compared to $97.2 million on December 31, 2018. There was no
debt as of March 31, 2019. Subsequent to the end of the first quarter of
fiscal 2019, the Company secured a $20 million credit facility to be
utilized to fund existing and future growth projects, future M&A
activity and general corporate purposes.

Earnings Webcast

The Company will hold a webcast with the investment community at 8:30
a.m. Eastern Time on Friday, May 31, 2019. A live webcast with the
ability to ask questions and view the Company’s presentation will be
available on the Investors – Events & Presentations section of the
Company’s website at https://investors.tiltholdings.com/ir-calendar
or directly at http://public.viavid.com/index.php?id=134773.
Please visit TILT’s website at least 15 minutes prior to the start of
the call to register, download and install any necessary audio software.
The webcast will be archived for approximately 30 days.

About TILT

TILT is a leading provider of products and services to businesses
operating in the cannabis industry. The Company offers the contract
manufacturing of marijuana in a variety of form factors, vaporizer and
inhalation devices, business and consumer delivery services and a broad
suite of software products for over 1,500 retailers and brands
throughout the U.S., Canada and Europe. The majority of TILT’s products
are customized to client specifications and branding, all enabling them
to operate their businesses more efficiently and connect with their
customers more effectively. The Company is organized in two main
business units, Software & Services and Consumer Devices & Packaged
Goods, designed to augment competencies across the organization in
research, manufacturing, packaging and technology to deliver end-to-end
services and customer solutions. All of TILT’s products are supported by
an extensive research process led by scientists and engineers, using
data analytics and discovery to produce new products helping shape the
industry. Headquartered in Cambridge, MA, with offices throughout the
U.S., Toronto and London, TILT has over 500 employees and has sales in
40 U.S. states, Canada and Europe. For more information, please visit www.tiltholdings.com.

Forward-Looking Information

This news release contains forward-looking information based on
current expectations. Forward-looking information is provided for the
purpose of presenting information about management’s current
expectations and plans relating to the future and readers are cautioned
that such statements may not be appropriate for other purposes. Forward
looking information may include, without limitation, the opinions or
beliefs of management, prospects, opportunities, priorities, targets,
goals, ongoing objectives, milestones, strategies and outlook of TILT,
and includes statements about, among other things, future developments,
the future operations, strengths and strategy of TILT. Generally,
forward looking information can be identified by the use of forward
looking terminology such as “plans”, “expects” or “does not expect”, “is
expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”,
“anticipates” or “does not anticipate”, or “believes”, or variations of
such words and phrases or state that certain actions, events or results
“may”, “could”, “would”, “might” or “will be taken”, “occur” or “be
achieved”. These statements should not be read as guarantees of future
performance or results. These statements are based upon certain material
factors, assumptions and analyses that were applied in drawing a
conclusion or making a forecast or projection, including TILT’s
experience and perceptions of historical trends, current conditions and
expected future developments, as well as other factors that are believed
to be reasonable in the circumstances.

Although such statements are based on management’s reasonable
assumptions at the date such statements are made, there can be no
assurance that they it be completed on the terms described above and
that such forward-looking information will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such forward-looking information. Accordingly, readers
should not place undue reliance on the forward-looking information. TILT
assumes no responsibility to update or revise forward-looking
information to reflect new events or circumstances unless required by
applicable law.

By its nature, forward-looking information is subject to risks and
uncertainties, and there are a variety of material factors, many of
which are beyond the control of TILT, and that may cause actual outcomes
to differ materially from those discussed in the forward-looking
statements.

The CSE has neither approved nor disapproved the contents of this
news release.

Pro Forma Presentation

The pro forma information (“Pro Forma Information”) presented herein
is not necessarily indicative of the operating results or financial
condition that would have been achieved if the proposed acquisitions to
which the Pro Forma Information relates had been completed on the dates
or for the periods presented, nor do they purport to project the results
of operations or financial position of the combined entities for any
future period or as of any future date. Actual amounts recorded upon
consummation of the acquisitions to which the Pro Forma Information
relates would likely differ from those recorded in the Pro Forma
Information. The Pro Forma Information does not reflect any special
items such as integration costs or operating synergies that may be
realized as a result of the acquisitions to which the Pro Forma
Information relates.

Non-IFRS Financial and Performance Measures

In addition to providing financial measurements based on
International Financial Reporting Standards (“IFRS”), the Company
provides additional financial metrics that are not prepared in
accordance with IFRS. Management uses non-IFRS financial measures, in
addition to IFRS financial measures, to understand and compare operating
results across accounting periods, for financial and operational
decision making, for planning and forecasting purposes and to evaluate
the Company’s financial performance. These non-IFRS financial measures
are Adjusted EBITDA and Pro Forma Adjusted EBITDA.

Management believes that these non-IFRS financial measures reflect
the Company’s ongoing business in a manner that allows for meaningful
comparisons and analysis of trends in the business, as they facilitate
comparing financial results across accounting periods and to those of
peer companies. Management also believes that these non-IFRS financial
measures enable investors to evaluate the Company’s operating results
and future prospects in the same manner as management. These non-IFRS
financial measures may also exclude expenses and gains that may be
unusual in nature, infrequent or not reflective of the Company’s ongoing
operating results.

As there are no standardized methods of calculating these non-IFRS
measures, the Company’s methods may differ from those used by others,
and accordingly, the use of these measures may not be directly
comparable to similarly titled measures used by others. Accordingly,
these non-IFRS measures are intended to provide additional information
and should not be considered in isolation or as a substitute for
measures of performance prepared in accordance with IFRS.

EBITDA and Adjusted EBITDA

Adjusted EBITDA and Pro Forma Adjusted EBITDA are financial measures
that are not defined under IFRS. The Company uses these non-IFRS
financial measures, and believes they enhance an investor’s
understanding of the Company’s financial and operating performance from
period to period, because they excludes certain material non-cash items
and certain other adjustments management believes are not reflective of
the Company’s ongoing operations and performance. The Company calculates
EBITDA as net income (loss), plus (minus) income taxes (recovery), plus
(minus) interest expense (income), plus depreciation and amortization
expense. Adjusted EBITDA excludes certain one-time non-operating
expenses, as determined by management, including stock compensation
expense, goodwill impairment, loss (gain) on disposal of asset and
business combination expense.

Reconciliations of Non-IFRS Financial and Performance Measures

Adjusted EBITDA is reconciled to Net Loss in the Management
Discussion and Analysis of the Company for the quarter ended on March
31, 2019, which is available on the Company’s SEDAR profile at
www.sedar.com.
Pro Forma Adjusted EBITDA is reconciled to Net Loss in the table that
follows:

 
Reconciliations of Non-IFRS Financial and Performance Measures
 
The table below reconciles Net Loss to EBITDA and Adjusted EBITDA
for the periods indicated.
 
    Three Months Ended
Mar. 31, 2019       Mar. 31, 2018
Net Income (Loss) (IFRS) ($77,895,668 ) ($2,126,021 )
 
Add (Deduct) Impact of:
Net Interest Expense (Income) ($780,909 )
Income Tax Expense (Recovery) $ 577,589
Depreciation and Amortization $ 9,083,505   $ 4,978  
Total Adjustments $ 8,880,185 $ 4,978
 
EBITDA (Non-IFRS)   ($69,015,483 )   ($2,121,043 )
 
EBITDA (Non-IFRS) ($69,015,483 ) ($2,121,043 )
 
Add (Deduct) Impact of:
Foreign Exchange Loss (Gain)
Stock Compensation Expense $ 59,772,491
Impairment of Inventory
Goodwill Impairment
Business Combination Expense
Business Acquisition Expense $ 1,196,777      
Total Adjustments $ 60,969,268
 
Adjusted EBITDA (Non-IFRS)   ($8,046,215 )   ($2,121,043 )
 

Contacts

Contact Information:
Joel Milton
SVP of Business
Development
Phone: 303-872-7255

Investor Contact:
Scott Van Winkle
ICR
Phone:
617-956-6736
investors@tiltholdings.com

Media Contact:
Cory Ziskind
ICR
Phone: 646-277-1232
tiltholdings@icrinc.com

Cannabis

Brigadier Options Gold-Silver Picachos Property, Including Past Producing San Agustin High Grade Gold Mine, Sinaloa Mexico

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Vancouver, British Columbia–(Newsfile Corp. – July 7, 2020) – Brigadier Gold Limited (TSXV: BRG) (the “Company” or “Brigadier“) is pleased to announce that it has entered into a binding letter of intent (“LOI”) for an option to acquire a 100% interest in the 3,954 hectare Picachos Gold-Silver Property (“Picachos”), centered over the historic “Viva Zapata” National Mineral Reserve, Sinaloa, Mexico.

Project Highlights:

  • Located in the Sierra Madre Occidental (SMO) Baluarte watershed, between the Panuco Project of Vizsla Resources and the Plomosas Project of GR Silver Mining.
  • San Agustin Mine underground channel sampling by prior operator returned average grade of 81.22 grams per ton (g/t) gold (Au) and 73.36 g/t silver (Ag) across 1.2 metres (Thunderbird Projects news release dated 18 June 1997). Values of 185 g/t Au were cut across the bottom of a production shaft (sample HBM-73175). The San Agustin vein has never been tested with diamond drilling.
  • More than 160 known historic underground mines, workings and prospects at Picachos are on gold-rich veins.
  • Recently identified, large copper porphyry prospect in northern area of Picachos.
  • Drill / exploration permits in place as well as recently renewed surface access agreement with local community.

Ranjeet Sundher, CEO, remarks “Picachos marks an important acquisition for Brigadier, positioning the Company in a prolific gold and silver region of Mexico. Picachos is road accessible and demonstrates exceptional potential for advancement. Over 160 underexplored historic mines and workings throughout Picachos provide excellent potential for discovery of new gold-silver mineralized zones. Picachos benefits from a comprehensive historical exploration data library, allowing for the immediate commencement of exploration and an inaugural drill program. We’re looking forward to getting boots on the ground and drills turning.”

Picachos, held by Minera Camargo S.A. de C.V. (Minera Camargo), is comprised of four mining concessions covering an area of 3,954 hectares and is situated in the municipality of El Rosario, in the southeastern region of Sinaloa state, Mexico. Prior to 2002, the mineral tenure was fractured by several small concessions. Minera Camargo acquired a contiguous land package between 2003 and 2012. Geographically, the Picachos overlaps part of the western foothills of the Sierra Madre Occidental (SMO). Access to Picachos from Mazatlan is by state highway and paved road to the town of Cacalotan, and then by dirt road into the Property. Total driving distance is approximately 111 road kilometres (km) over a period of four hours. Mine workings are accessed by approximately 20 km of roads internal to the Property.

Picachos overlaps (i) two regional-scale precious metal rich vein systems and (ii) a large porphyry copper prospect. Historic metal production is from the veins. The largest vein system trends northeasterly for seven kilometers along a major fault zone, and host the past-producing San Agustin underground mine. It appears to be cross-cut and disrupted by several northwesterly trending veins including El Placer. The El Placer vein system has been mapped over a 4 km long strike length. The portion that belongs to Minera Camargo is about 1.5 km long in the southeastern part of Picachos.

Regional geochemical work by the SGM at the turn of the millennium highlighted the historic Viva Zapata Mineral Reserve as one of the largest contiguous, and highest amplitude anomalies for gold, silver and base metals in southern Sinaloa and northern Nayarit.

Specifically, all seventeen drainage basins that underlie Picachos contain anomalous copper values of 49 to 299 ppm, nine basins contain anomalous gold values of 0.1 to 2.6 ppm, 3 basins contain anomalous molybdenum values of 3.2 to 13.9 ppm, fifteen basins contain anomalous lead values ranging from 53 to 639 ppm lead and eight basins contain anomalous zinc values that range between 233 and 1716 ppm. Nine of the seventeen basins contain detectable silver ranging from 1 to 1.9 ppm.

Cannot view this image? Visit: https://i0.wp.com/grassnews.net/wp-content/uploads/2020/07/brigadier-options-gold-silver-picachos-property-including-past-producing-san-agustin-high-grade-gold-mine-sinaloa-mexico.jpg?w=740&ssl=1

Map showing the location of the Picachos Property, San Agustin Gold Mine, La Cocolmeca and El Placer regional gold-bearing regional structures and the sericitic alteration boundary. Stream basins sampled by the Servicio Geologico Mexicano are coloured according to gold concentration.

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/3750/59243_4532a04f342dc884_001full.jpg

The historic San Agustin gold mine contains approximately 670 m of historic underground development.

In the mid-1990’s, previous owner Minas de Picacho S.A. de C.V. built 225 m of cross-cuts large enough for rubber-tired diesel equipment and started mining and milling ore from the San Agustin Gold Mine. Their underground sampling implied an average grade of 81.2 g/t Au and 73 g/t Ag across 1.2 m (Thunderbird Projects News Release dated 18 June 1997). The historic assays cannot be verified as those sample locations are now mined out.

In June of 2014, Vane Minerals test mined three rounds from the south face. The average assay values of muck piles from each of these three rounds were 15.8 g/t Au and 63 g/t Ag across a mined width of 2.5 m.

The San Agustin Gold Mine exploits a gold-rich shear zone hosted in basaltic andesite that may be as old as Jurassic. Mineralization consists of sulfide in a quartz-calcite gangue. It is heavily oxidized even as deep as 100 m below surface. The shear zone trends northeasterly and dips steeply northwesterly. On surface, quartz veining occurs in a foliated zone that is poorly exposed over a 400 m strike length. Extraction adits intercept the vein at 695 m elevation, 670 m elevation and 646 m elevation. Within the lowermost adit, some slots are mined as deep as 45 meters (601 m elevation).

No diamond drilling has ever been done on the San Agustin Vein.

Geology and Mineralization

Picachos is underlain by Jurassic to Oligocene volcanic and sedimentary strata that are intruded by Early Cretaceous gabbro, Late Cretaceous quartz monzonite, a Paleocene granodiorite/granite intrusive complex and Oligocene rhyolitic domes. Porphyry-style stockwork mineralization is related the Paleocene intrusive complex. Chalcopyrite and molybdenite occur in quartz veinlets with biotitic selvedges and muscovitic vein envelopes. Sericitic alteration typical of the upper parts of porphyry systems has been identified by surface sampling over an area approximately 6 km in diameter as shown on the map. Gold mainly occurs with base metals in veins that outcrops at higher elevations both southeast and northeast of the porphyry system. The veins in the Colcomeca structure locally show evidence of ductile shear, and might best be classified as orogenic. Northwesterly trending veins such as El Placer contain stilpnomelane (iron-rich biotite) in vein selvedges that must have crystallized at temperatures well-above epithermal ranges.

Acquisition Terms

To acquire a 100% interest in 4 contiguous mineral claims comprising the Picachos Property, Brigadier will provide staged consideration to Minera Camargo over a 5-year period consisting of cash payments totalling US$275,000; share issuances totaling 4,000,000 common shares of Brigadier; and cumulative exploration expenditures of US$3,850,000. Brigadier will also make payments to Minera Camargo for Picachos development milestones as to: i) 1,000,000 common shares of Brigadier upon delineating a mineral resource estimate containing a minimum of 350,000 ounces of gold in the inferred category (based on the then current CIM definitions); ii) US$725,000 and 1,000,000 common shares of Brigadier upon completion of a feasibility study recommending the construction of a mine on the Property; and iii) US$2,000,000 upon commencement of commercial production. Brigadier may, at its option, issue common shares in lieu of one half of the cash payments to be made pursuant to each of ii) and iii). A 2% NSR will be retained by Minera Camargo.

Minera Camargo is at arm’s length to Brigadier.

The acquisition is subject to a number of conditions precedent, including: completion of confirmatory due diligence by Brigadier, receipt of all applicable regulatory, shareholder and third-party approvals, including approval of the TSX Venture Exchange (the “Exchange”)

Subject to approval of the Exchange, a finder’s fee will be paid in connection with the transaction.

The Company has not undertaken any independent investigation of the historical information contained in this press release nor has it independently analyzed the results of the previous exploration work in order to verify the accuracy of the information. The Company believes that the historical results and other information contained in this press release are relevant to continuing exploration on the Property.

Qualified Person

Technical information in this New Release has been reviewed by Michelle Robinson, MASc., P.Eng., a Qualified Person as defined by NI-43-101.

Sample HBM-73175 was collected from a homogenous pile of mine muck taken from the bottom of JJV Slot in the San Agustin mine at the 601 m elevation by a geologist working for Hudbay Minerals in 2013. The geologist sent this sample with his other samples to Acme’s preparation laboratory in Guadalajara, Jalisco. There, the samples were crushed and split. A one kg split of each sample was pulverized to -200 mesh (R200-1000) with an extra wash with glass between each sample (code XWSH). The prepared pulps were sent to the North Vancouver lab for analysis using ICP-MS methods (code 1DX), whole-rock analyses (code 4A-4B) and fire assay methods using a gravimetric finish (code Group 6Gr). It is the QP’s opinion that the result of HBM-73175 is reliable.

Regional geochemical samples were collected from sediments deposited in active stream channels by personnel working for the Servicio Geologico Mexicano (SGM) using a plastic scoop then sieving the sediment to -80 mesh into a numbered sample envelope. Sample locations were recorded with a hand-held GPS. The samples were sent to Government laboratories in either Chihuahua or Oaxaca where a 1-gram portion of the pulp was dissolved in aqua regia and analyzed for 32 elements using ICP methods. Gold was analyzed using fire-assay methods with an AA finish. Detection limits (DL) for gold are 1 ppb. Silver DL is 0.8 ppm, molybdenum DL is 0.9 ppm, lead, zinc, and copper DL is 2 ppm. It is the author’s opinion that the analytical data of the SGM is of good quality, but that gold concentrations can be under-estimated due to sampling surficial stream sediments with a plastic scoop when more representative results can be better obtained by digging into natural sediment traps using heavy tools. Further, use of the -80-mesh fraction might result in a larger nugget effect than using a finer fraction (say -200 mesh).

Samples by Vane Minerals in 2014 were taken for determining if the grade of muckpiles was adequate for milling. They collected about 2 kilograms of sample from several handfuls of muck from different areas of each pile. Their samples were assayed at their fire-assay laboratory in Acaponeta. It is the QP’s opinion that these assays are reliable.

About Brigadier Gold

Brigadier Gold Limited was formed to leverage what we believe will be the next major bull market in the natural resource sector, particularly precious metals. Our mandate is to acquire undervalued and overlooked projects with demonstrable potential for advancement.

Led by a management team with decades of experience in mineral exploration and capital markets development, we are focused on advanced exploration opportunities in politically stable jurisdictions.

For further information, please contact:

Brigadier Gold Limited
www.brigadiergold.ca
Ranjeet Sundher, Chief Executive Officer
(604) 377-0403
corporate@brigadiergold.ca

Reader Advisory

This news release may contain statements which constitute “forward-looking information”, including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities of the Company. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities and involve risks and uncertainties, and that the Company’s future business activities may differ materially from those in the forward-looking statements as a result of various factors, including, but not limited to, fluctuations in market prices, successes of the operations of the Company, continued availability of capital and financing and general economic, market or business conditions. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/59243

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Cannabis

Nextleaf Solutions Provides Commercial Update

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Vancouver, British Columbia–(Newsfile Corp. – July 6, 2020) – Nextleaf Solutions Ltd. (CSE: OILS) (OTCQB: OILFF) (“Nextleaf“, “OILS“, or the “Company“), Canada’s most innovative cannabis extractor, is pleased to provide the following commercial update:

Bulk THC Distillate Supply Deal

Nextleaf Labs Ltd. (“Nextleaf Labs“), a Health Canada licensed standard processor of which the acquisition by OILS is pending, has entered into a bulk supply agreement with a B.C.-based multi-licensed cannabis producer focused on the distribution of adult-use cannabis products through provincial markets. Pursuant to the agreement, Nextleaf Labs has agreed to supply 50 kilograms of THC distillate to the purchaser.

“We are very pleased to be working with a team with tremendous depth of experience distributing cannabis products through provincial adult-use channels,” said Charles Ackerman, CFO. “As we continue to grow our revenue, we believe our lean overhead structure and purposeful business model, which hasn’t deviated since our Company’s founding, will allow OILS to achieve and maintain profitability in the near team, and as our industry continues to commoditize. We believe our investment in innovation will help us to ensure the long-term sustainability of our business and provide a robust platform to scale globally from our base in Canada,” continued Ackerman.

This agreement represents an important milestone for the Company, allowing OILS to continue the commercialization of its intellectual property (“IP“) portfolio through the production of cannabis oils and concentrates by Nextleaf Labs. OILS owns a portfolio of over 35 issued patents and 65 pending patents for the extraction, distillation, and formulation of cannabinoids.

Commercial Scaleup

Concurrent with commercialization of the Company’s IP through distilled cannabis oil production, Nextleaf has made several key hires in operations and quality assurance roles to support increased growth and fundamentals. The Company has been able to recruit highly-trained staff with existing cannabis production and manufacturing experience.

“The recent downsizing by a number of Canada’s largest cannabis producers has allowed OILS to add some very experienced operators to our team, who I expect will play a major role in our growth as a company over the next few years,” said Paul Pedersen, CEO of Nextleaf Solutions. “With an the abundant supply of dried cannabis biomass, Nextleaf Labs is developing a competitive advantage by utilizing more efficient proprietary technology to transform otherwise unsellable biomass into high-purity THC and CBD oils at a lower cost per milligram compared to processors running less efficient off-the-shelf extraction technology,” continued Pedersen.

The Company is focused on reaching full utilization of over half a tonne of biomass processing per day at its Metro Vancouver cannabis oil refinery in 2020. Nextleaf Labs is processing biomass under the Cannabis Extraction Agreement announced on April 2, 2020 with a 10-acre greenhouse cannabis grower. Nextleaf Labs expects to continue scaling its operations through toll processing and the supply of bulk cannabis concentrates. The industry has seen increased demand for economical extraction and distillation due to the legalization of cannabis 2.0 derivative products, and an over supply of dried cannabis biomass that has a shorter shelf life compared to cannabis oils.

Employee Equity Participation Plan

The Company announced today that it has issued shares under its Employee Equity Participation Plan (the “Plan“) implemented on April 1st in response to the COVID-19 pandemic to align the efforts and compensation of non-executive employees with the Company’s long-term business strategy.

The Plan is fully voluntary and permits non-executive employees to receive common shares in the capital of the Company in lieu of a portion of an employee’s cash compensation. The Plan allows the Company to reduce the cash component of employee compensation and further align incentives across the team.

Under the Plan for the month of June, Nextleaf has issued an aggregate of 68,126 common shares at a price of $0.285 per share.

About Nextleaf®

OILS is Canada’s most innovative cannabis extractor, developing technology for extracting and distilling THC and CBD oils. Nextleaf’s industrial-scale extraction plant in Metro Vancouver has a design capacity to process 600 kg per day of dried cannabis biomass into distilled oils. The Company owns a portfolio of over 35 issued patents and 65 pending patents for the extraction and distillation of cannabinoids. Nextleaf Solutions commercializes its patent portfolio through IP licensing, and the wholesale of THC and CBD oils through Nextleaf Labs, a Health Canada licensed standard processor.

Nextleaf Solutions trades as OILS on the Canadian Securities Exchange, OILFF on the OTCQB Market in the United States, and L0MA on the Frankfurt Stock Exchange.

Follow OILS across social media platforms: Twitter, LinkedIn, Facebook, and Instagram.
www.nextleafsolutions.com

For further information, please contact:
604-283-2301 (ext. 219)
investors@nextleafsolutions.com

On behalf of the Board of Directors of the Company,
Paul Pedersen, CEO

Certain statements contained in this press release constitute “forward-looking statements”. All statements other than statements of historical fact contained in this press release, including, without limitation, those regarding the Company’s ability to capitalize on its IP portfolio, expectations regarding lower costs resulting from utilization of the Company’s technology, changes in the global market for cannabinoid-based products, the potential for shareholder value creation through the formalization and protection of IP, the Company’s future profitability and expected revenue growth, the long-term sustainability of the Company’s business model, the ability to scale the Company’s business globally, the Company’s strategy, plans, objectives, goals and targets, and any statements preceded by, followed by or that include the words “believe”, “expect”, “aim”, “intend”, “plan”, “continue”, “will”, “may”, “would”, “anticipate”, “estimate”, “forecast”, “predict”, “project”, “seek”, “should” or similar expressions or the negative thereof, are forward-looking statements. These statements are not historical facts but instead represent only the Company’s expectations, estimates and projections regarding future events. These statements are not guarantees of future performance and involve assumptions, risks and uncertainties that are difficult to predict. Therefore, actual results may differ materially from what is expressed, implied or forecasted in such forward-looking statements. Additional factors that could cause actual results, performance or achievements to differ materially include, but are not limited to the risk factors discussed in the Company’s MD&A for the most recent fiscal period. Management provides forward-looking statements because it believes they provide useful information to investors when considering their investment objectives and cautions investors not to place undue reliance on forward-looking information. Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements and other cautionary statements or factors contained herein, and there can be no assurance that the actual results or developments will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, the Company. These forward-looking statements are made as of the date of this press release and the Company assumes no obligation to update or revise them to reflect subsequent information, events or circumstances or otherwise, except as required by law. The CSE has not reviewed, approved or disapproved the contents of this press release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/59174

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Sun Kissed Industries Inc.’s Numuni Subsidiary Launches Full BETA Sales Affiliate Program with a Highly Accomplished List of Initial Sales Affiliates

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New York, New York–(Newsfile Corp. – July 6, 2020) – Sun Kissed Industries Inc. (OTC Pink: SKDI) (“Sun Kissed”, “SKDI”), an emerging leader in the development and sale of CBD consumables, digital content management, and online ad monetization technology,”), is pleased to provide a key and very exciting update for its current and prospective investors, as the Company moves forward with the full BETA launch of the Numuni Sales Affiliate Program.

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Numuni Inc. (“Numuni”), a monetization platform developed for digital media publishers, software providers, and online games, has already acquired nearly 100 affiliates and just began BETA testing their sales program on July 1st, 2020.

Numuni will develop all sales training materials and additional technical features based on the feedback of their newly acquired BETA Sales Affiliates and plans to finish the development of its pre-existing software infrastructure during this time. BETA Sales Affiliates will have the ability to earn a 5% lifetime commission of the earnings generated by any website publishers they refer to Numuni. This will provide Numuni with significant traction and revenue-generating capabilities immediately upon the full pending public launch of its robust platform.

Robert Reynolds, the founder and CEO of Numuni stated, “We are extremely thrilled to collaborate with our highly influential and experienced BETA Affiliates in building the foundation of our sales acquisition strategy over the next 45-60 days. Their feedback will be 1 of the initial key essential steps in helping us hit the ground running when our software is fully launched to market.”

By utilizing the same sales acquisition model in his prior endeavor, CPAlead, Robert was able to acquire over +150,000 website publishers, making CPAlead the 40th fastest-growing private company in the USA.

Similarly, Numuni will now be extremely favorably positioned to rapidly scale up its sales operations, by using their affiliate marketing team, and without relying on the high overhead cost of expensive marketing campaigns.

“The digital content monetization market is ripe for disruption again, even more so this time around. And our truly groundbreaking sector disruptive technology is going to be an extreme game-changer,” Mr. Reynolds sums up in concise terms.

Digital publishers are increasingly considering truly effective alternative monetization methods due to the decline of traditional ad revenues and rising public opposition against users’ private data being sold. Numuni plans to capitalize on this growing market trend, having already received pre-commitments from multiple Top-50 trafficked websites, and will utilize its robust and groundbreaking Sales Affiliate Program to rapidly acquire many more worthy & relevant high trafficked websites over the balance of this year and beyond.

About Sun Kissed Industries, Inc.:

Sun Kissed Industries Inc. (OTC Pink: SKDI) is an emerging leader in the development and sale of CBD consumables, digital content management, and online ad monetization technology. The Company is pursuing meaningful acquisitions as part of an aggressive M&A strategy designed to position Sun Kissed as a dominant player in well-defined, high-growth markets within rapidly expanding sectors.

About Numuni, Inc.:

Numuni is a technology platform that aims to disrupt the digital marketplace for paid content by making use of the vast amount of unused computing resources that personal computer desktops have. Numuni is positioned to truly transform the user experience of consuming digital content, increasing the content provider’s earnings as they deliver that experience, as well as leverage the GPU computing power as a commodity to increase efficiency and cost savings.

General information about Numuni, Inc. can be obtained at the company’s website at numuni.io. Follow @numunionline on Twitter and find Numuni, Inc. on Facebook at facebook.com/numuni.io

About Hakuna:

Hakuna is an award-winning CBD-products company, currently nominated for “Best Hemp-Derived CBD Product” by the California Cannabis Awards after winning the DOPE Magazine Best New Product award for Southern California in the non-cannabis/non-tech category in 2017. Hakuna was also recently awarded “Runner Up” at the Los Angeles Coffee & Donut Festival People’s Choice Coffee Awards for 2019. Hakuna generates significant revenues with a substantial distribution footprint, including over 110 established retail distribution partners across over 20 states in the domestic US market.

FORWARD-LOOKING STATEMENTS:

This press release may contain forward-looking statements, including information about management’s view of Sun Kissed Industries Inc.’s future expectations, plans and prospects. In particular, when used in the preceding discussion, the words “believes,” “expects,” “intends,” “plans,” “anticipates,” or “may,” and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release other than those of historical fact, about an action, event, or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties, and other factors, which may cause the results of Sun Kissed, its subsidiaries and concepts to be materially different than those expressed or implied in such statements. Unknown or unpredictable factors also could have material adverse effects on Sun Kissed’s future results. The forward-looking statements included in this press release are made only as of the date hereof. Sun Kissed cannot guarantee future results, levels of activity, performance, or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, Sun Kissed undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by Sun Kissed.

SOURCE: Sun Kissed Industries Inc.

SKDI Contact:

invest@sunkissedindustries.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/59166

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