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International Cannabrands CEO Publishes 2020 Outlook Letter to Shareholders

Vlad Poptamas

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International Cannabrands Inc. (CSE:INCB) (the “Company“) CEO Steve Gormley publishes an open letter to Shareholders on the year ahead for INCB.

Dear Shareholders,

When I wrote to you on September 26th*, I outlined the ambitious turnaround plan we were undertaking at the corporate level, and announced that we would be allocating significant resources towards a CBD initiative. As we begin the new year and continue to execute against this plan, I would like to take advantage of this opportune moment to update Shareholders on the year ahead.

2020 Outlook 

The cannabis industry is measured on fundamentals. 2019 was a tumultuous year that brought a critical reality check to the cannabis industry at large.  We are seeing the maturing of a relatively nascent industry, with stock valuations being assessed on solid fundamentals. The year demonstrated that not all business models are the same, and underlined the critical importance for a company to demonstrate strategic advantages, a strong balance sheet, and a clear path to profitability.

2020 is forecasted to bring forth a clearer, more efficient cannabis market.  Based on discussions we’ve had with those in financial markets, specifically in cannabis, we believe the sector will turn around by Q3 as companies begin to report better financial results due to rightsizing their capacity and operations.  It is our belief that cannabis companies to watch in 2020 will be the ones making early investments into a consumer driven business.

We continue to see quite a bit of M&A activity and overall consolidation, and expect this to perpetuate throughout the year as many companies have exhausted their funding and are unable to raise cost efficient capital. After more than a year of declining share prices, it appears to me that the market has bottomed out. At the same time, I see a return of cannabis investors who were sitting on the sidelines during last year’s downturn now looking to take advantage of undervalued assets. It is important to stress that investors should move into the space with the understanding that short term investments are no longer the way to go, and to regard these as long positions.

INCB Updates

In my September letter, I acknowledged the market’s demand for a course correction. Since then, we’ve taken steps to rightsize the company’s portfolio and streamline operations, and Management has made significant progress over the past few months.

Since Sept 2019, INCB has raised approximately $1 million (CDN) through private placement. All funds have come from strategic investors and at a premium to the stock price. This is unique and especially so when the sector is facing negative investor sentiment. I believe this speaks to the fact that our new investors appreciate the quality of our turn-around, growth plan, and management team. Evidence of this thinking is exemplified by the fact that Bob Yosaitis, a highly successful entrepreneur from both the cannabis and non-cannabis sectors, also joined our Board of Directors.

The company has cancelled its brokered debt financing round as well as equity credit line financing arrangements, which do not serve us at this time. We would not be able to raise money at a premium to our trading price nor would we be able to attract the type of strategic investors that have been stepping up to support INCB.

CBD represents strong growth potential for INCB, with the market’s high acceptance of cannabidiol as an important component of many wellness trends.  There are opportunities in the CBD market to create strong, relevant consumer brands that offer non-pharma solutions for today’s active consumer.  INCB has taken a traditional consumer packaged goods approach against this CBD mandate — informing everything from our product development through distribution.  I believe INCB’s unique approach in mapping to consumer trends with effective products in niche categories present the Company with opportunities to claim market leadership.

  • Baseline will be the first in-house developed CBD line to be launched.  The offering has a benefit driven brand architecture with custom CBD + adaptogen formulations designed to support the user to get the most out of their day and night. Baseline is scheduled to launch in Q1 2020.
  • Other CBD brand initiatives planned include a collaboration with renowned Beverly Hills plastic surgeon and INCB’s Chief Medical Officer, Dr. David Rosenberg. This branded line will be developed specifically for outpatient cosmetic procedures.

As disclosed, INCB is pursuing its options regarding its investment in La Vida Verde to effect a repricing of the transaction and pursue value for its shareholders.

2020 Objectives 

INCB continues to pursue the development and acquisition of cannabis and CBD consumer brands. A secondary emphasis is on acquiring interests in ancillary businesses that ensure product quality, supply continuity, and development agility while providing better EBITDA margins for our brands.

To further this mandate, our 2020 objectives will include:

  • Build strategic partnerships that have the potential to expand our vertical integration in the supply chain from cultivation through retail.
  • Integrate a range of assets sourced through our network’s portfolios, potentially to include cultivation, licenses, real estate and distribution/retail.
  • To fund new brand initiatives and strategically evaluate acquisitions of high value assets across consumer brands and retail sectors.

There is much to anticipate in 2020 with regulatory action and industry consolidation, and it will certainly be a defining year for the cannabis sector and for INCB.  There is a tremendous amount of work ahead of all of us, as we streamline legacy operations and diversify the company portfolio into new sectors.  It is a daunting challenge, without a doubt, but we believe that working with the collective horsepower of our team and partners, we can make 2020 a pivotal year for the company’s expanding footprint and position in the market.

As always, thank you for your loyalty and support.

Steve Gormley

 

SOURCE International Cannabrands Inc.

Cannabis

Nutritional High Announces Settlement of Payables and Update on Psychedelic Sciences Corp Acquisition.

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Toronto, Ontario–(Newsfile Corp. – August 4, 2020) – Nutritional High International Inc. (CSE: EAT) (OTC Pink: SPLIF) (“Nutritional High” or the “Company“) is pleased to announce settlement of trade payables and an update regarding the acquisition of Psychedelic Sciences Corp (“PSC“).

The Company announces that trade creditors representing CAD $1,159,936 have entered into settlement agreements with the Company to convert such amounts owed into 44,253,582 Units at a deemed price of $0.025 per Unit. Each Unit being comprised of one common share and one common share purchase warrant (a “Warrant“) with each Warrant entitling the holder to acquire one common share of the Company at any time on or before December 31, 2020 at a price of $0.05 per share The shares issuable under this conversion will be issued under National Instrument 45-106 and are subject to a 4-month hold.

The payable settlement agreements represent approximately half of the Company’s total corporate payables excluding its subsidiary Calyx Brands.

“We are pleased to have reached a settlement of these payables and would like to thank all parties for their cooperation and support” stated John Durfy, CEO of Nutritional High. This is an important part of our strategic review and helps in our effort to improve our capital structure.”

$730,547.13 of the debt being settled is held by related parties of the Company. Branson Corporate Services Ltd., a corporate services firm in which Adam Szweras, one of the directors of the Company, and his spouse own more than 10% received 2,806,120 units, bringing Branson Corporate Services Ltd.’s ownership position from nil to 0.6% on an undiluted basis and 1.2% on a partially diluted basis. L+G LLP (JRG Attorneys at Law, California) a law firm of which Aaron Johnson, a director of the Company, is one of three partners, received 14,893,580 units, bringing L+G LLP ‘s ownership position from nil to 3.2% on an undiluted basis and 6.2% on a partially diluted basis. FMI Capital Advisory Inc., a financial advisory firm of which Adam Szweras is a director, received 4,000,000 units, bringing FMI Capital Advisory Inc.’s ownership position from 1.5% to 2.2% on an undiluted basis and 3.4% on a partially diluted basis. Brian Presement, a director of the Company received 158,828 units. Unite Communications Corp., a communications company which is controlled by Brian Presement received 284,131 units. Plexus Cybermedia Inc., a data driven investor marketing firm of which Brian Presement holds one-third of the shares and is a director received 7,079,306 units, bringing Plexus Cybermedia Inc.’s ownership position from 0.12% to 1.6% on an undiluted basis and 3.1% on a partially diluted basis. The Company relied upon the exemptions in sections 5.5(b) (Issuer Not Listed on Specified Markets) and 5.7(1)(a) (Fair Market Value Not More Than 25 Per Cent of Market Capitalization) of Multilateral Instrument 61-101. The material change report will be filed less than 21 days before the closing date of the debt restructuring, but believes that this shorter period is reasonable and necessary in the circumstances as the Company wishes to improve its financial position by reducing its accrued liabilities as soon as possible.

Update on Acquisition of PSC

PSC has completed it’s financing efforts and closing of the acquisition is expected to be completed shortly following receipt of satisfaction of the remaining conditions precedent.

PSC is moving ahead with Rangsit University (“RSU”) to identify which cactai strains will grow most rapidly while maximising mescaline output. In addition, Nutritional High’s science team is working with PSC and RSU to design a whole plant trial to determine the efficacy of micro-dosing psychedelic cactai.

With regard to Psilocybin related research and development, RSU and PSC are developing a trial which will be undertaken upon a successful de-scheduling of Psilocybin in Thailand.

About Nutritional High International Inc.

Nutritional High is focused on developing and manufacturing branded products in the cannabis industry, with a specific focus on edibles and oil extracts for medical and adult recreational use. The Company works exclusively in jurisdictions where such activity is permitted and regulated by state law. Nutritional High has brought its flagship FLÏ™ edibles and vape product lines from production to market in various markets including Colorado where its award winning FLÏ™ products are manufactured by Palo Verde, LLC. The Company signed a purchase agreement for Palo Verde and is awaiting regulatory approval. In California, the Company distributes products through its wholly owned distributor Calyx Brands Inc. For updates on the Company’s activities and highlights of the Company’s press releases and other media coverage, please follow Nutritional High on Facebook, Twitter and Instagram or visit www.nutritionalhigh.com.

For further information, please contact:

Robert Wilson
Chief Financial Officer
Nutritional High International Inc.
416-666-4005
Email: rwilson@nutritionalhigh.com

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR OTC MARKETS GROUP INC., NOR THEIR REGULATIONS SERVICES PROVIDERS HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Risks that may have an impact on the ability for these events to be achieved include completion of due diligence, negotiation of definitive agreements and receipt of applicable approvals. Forward looking statements in this press release include statements regarding the closing of the acquisition of PSC and the timing thereof Although such statements are based on management’s reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances.

The Company’s securities have not been registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act“), or applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or “U.S. Persons”, as such term is defined in Regulation S under the U.S. Securities Act, absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful.

Additionally, there are known and unknown risk factors which could cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law. Some of the risks and other factors that could cause actual results to differ materially from those expressed in forward-looking information expressed in this press release include, but are not limited to: obtaining and maintaining regulatory approvals including acquiring and renewing U.S. state, local or other licenses, the uncertainty of existing protection from U.S. federal or other prosecution, regulatory or political change such as changes in applicable laws and regulations, including U.S. state-law legalization, market and general economic conditions of the cannabis sector or otherwise.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/61067

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BioHarvest Sciences Inc.’s CEO to Host Zoom Video Conference Today, August 4, 2020 at 3:00 p.m. EST

Newsfile

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Vancouver, British Columbia–(Newsfile Corp. – August 4, 2020) – BioHarvest Sciences Inc. (CSE: BHSC) (the “Company”, “BioHarvest”)  would like to invite its shareholders and the general public to join Ilan Sobel, newly appointed CEO for a Zoom Video Conference TODAY August 4th, 2020 at 3:00PM Eastern Standard Time. The CEO will be unveiling publicly the Company’s Growth Strategy and will be available to answer questions with the attendance of Dr. Zaki Rakib, President and Chairman of the Board and, Dr. Yochi Hagay, CTO. Please click the following link to JOIN the conference: BHSC: Zoom Video Conference.

Ilan Sobel, CEO: “The merger of Canna-V-Cell and BioHarvest Ltd. earlier this year has created great opportunities for the Company to leverage its proprietary BioFarming Technology towards the Nutraceutical and Cannabis Verticals. I am looking forward to sharing BioHarvest’s Growth Strategy today with our shareholders and build their confidence in our ability to EXECUTE on this Strategy. I am committed to improve our communication with our shareholders and to the public in general and look forward to a quality dialogue. Please Join us!”

Cannot view this video? Visit:
https://www.youtube.com/watch?v=c7pxqAoTf5g

About BioHarvest Sciences Inc.

Based in Vancouver BC, BioHarvest Sciences Inc. is the developer and exclusive owner of the proprietary and patent protected Biofarming technology. It is the first and only industrial large-scale plant cell growth technology capable of directly and constantly producing the active plant ingredients without the necessity to grow the plant itself. The technology has been already validated by Vinia™, the red grapes cells functional food/dietary supplement produced and sold by BioHarvest. By adapting this technology to the Cannabis plant, and building adequate cells production capacity, BioHarvest Sciences Inc.’s objective is to become the leading supplier of Cannabis for both the medicinal and recreational legal use. See the following hyperlink for a visual description of our Biofarming technology: BHSC’s Biofarming Technology.

BioHarvest Sciences Inc.

Dr. Zaki Rakib
President and Chairman of the Board

For further information, please contact:

Dave Ryan, VP Investor Relations & Director
Phone: 1 (604) 622-1186
Email: dave@bioharvest.com

Forward-Looking Statements Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond the Company’s control. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.

Neither Canadian Securities Exchange nor its Regulation Services Provider 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/61016

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Osoyoos Closes Non-Brokered Private Placement

Newsfile

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Toronto, Ontario–(Newsfile Corp. – August 4, 2020) – Osoyoos Cannabis Inc. (CSE: OSO) (“Osoyoos” or the “Company”) is pleased to announce that the Company has closed its previously announced non-brokered private placement (the “Private Placement“) of up to 20,000,000 units of the Company (the “Units“), at a price of $0.05 per Unit, for gross proceeds of up to $1,000,000.

Each Unit will consist of one common share of the Company (a “Common Share“) and one-half of one common share purchase warrant of the Company (a “Warrant“). Each full Warrant will entitle the holder to acquire one additional Common Share for a period of twenty-four months from the date of issuance (the “Expiry Date“) at a price of $0.15 per Common Share. Furthermore, the Company will have the right to accelerate the Expiry Date to be thirty days following written notice to the holders, if during the term of the Warrants the Common Shares close at or above $0.20 per Common Share on each trading day for a period of ten consecutive trading days on the Canadian Securities Exchange. Proceeds from the Private Placement are expected to be used for general working capital needs.

On July 31, 2020, the Company closed a third tranche of the Private Placement and issued 10,208,340 Units of Company, at a price of $0.05 per Unit, for gross proceeds of $510,417. As of the date hereof, the Company has issued an aggregate of 20,208,340 Units pursuant to the Private Placement for total gross proceeds of $1,010,417.

All Common Shares and Warrants sold under the Private Placement will be subject to a statutory four month and one day hold period. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, and there shall be no sale or exchange of the Company’s securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under applicable securities laws.

About Osoyoos Cannabis Inc.

Osoyoos Cannabis Inc. has a joint-venture agreement with a private, vertically-integrated licensed producer under the Cannabis Act (Canada) to offer contract tolling extraction services to third-party businesses. Additionally, the Company recently acquired 1196691 B.C. Ltd. d/b/a “PCAI Pharma” (www.pcai.ca) and its wholly-owned subsidiary AI Pharmaceuticals Jamaica Limited, a private corporation incorporated and operating under the laws of Jamaica. The business of AI Pharma involves science, research, treatment, data mining and AI, focused on the development of combinatorial pharmaceuticals, nutraceuticals and cosmeceuticals utilizing compounds from cannabis (cannabinoids), psychedelic mushrooms (psilocybin), fungi and other psychedelic formulations and their related medicinal global intellectual property protection.

For further information, please contact:
Graham Simmonds

Chief Executive Officer
(416) 843-2881
jgrahamsimmonds@gmail.com

DISCLAIMER & READER ADVISORY

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “may”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the business of the Company. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the parties. The material factors and assumptions include regulatory and other third-party approvals; licensing and other risks. The forward-looking information contained in this release is made as of the date hereof and the parties are not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/61013

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