SpeakEasy Cannabis Club Ltd. (CSE: EASY) (Frankfurt: 39H) (the “Company” or “SpeakEasy“), a holder of a federal licence to cultivate, process and sell cannabis under the Cannabis Act, is pleased to provide an update to our stakeholders during these challenging times.
Work is continuing in Rock Creek and will continue for the foreseeable future in the cultivation facility and on the construction site.
Our incredibly dedicated and resourceful staff are diligently continuing work growing, harvesting, preparing for the outdoor spring planting and on the construction site.
SpeakEasy has adapted and implemented protocols and standard operating procedures to help prevent the potential spread of the coronavirus within our family of workers here in Rock Creek and corporate staff in other parts of B.C.
Given the high level of cleanliness and contamination prevention we maintain within our licensed facility, it is a natural transition for us to adapt many of those procedures to all staff outside the facility. Safety meetings, information sessions, training and oversight is provided to all of our employees to maintain the highest level of readiness possible.
Personal protection equipment, cleaning supplies, hand sanitizer and other critical supplies have been stocked up and we are prepared for the long haul. Given our geographical location and its relatively isolated nature, we feel, with an extreme effort directed towards monitoring and prevention, we are prepared to get through this event without significant interruption. Founder Marc Geen states, “We are confident, through diligent work and preparation we can achieve the goals that we have set out to accomplish this year despite the additional challenges we now face.”
Our Family of Employees
The lifeblood of any company is its employees and that fact is made even more clear during times like these. Protecting the family and offering everything required to support each person individually so that each person can then in turn support the company creates an environment of cooperation, trust and reliance on each other. Bin Huang, CEO says, “We are taking this situation extremely seriously and doing our best to use it as a positive team-building experience, to protect our operations as well as our staff. ”
Health Canada has informed us they have moved to working from home to help prevent the spread of the Coronavirus. We have had very positive communication with Health Canada over the last two weeks and expect that to continue. Given information currently available to us, we expect an amendment to our current license to be approved for our 60-acre outdoor field within the next two weeks. We have been preparing the starting material to be ready for a spring planting and everything is on track.
Founder Marc Geen states, “I am so proud of the SpeakEasy grow team that pulled off the first harvest of beautiful product at an average of 3.14 pounds per light, all of our financial models were created based on 2.5 pounds per light. Never being satisfied though, we still have work to do to reach our internal goal of averaging 3.5 pounds per light, a goal I am confident we will achieve.”
A recently completed professional valuation of the SpeakEasy property is expected to come in at $22,500,000.Upon completion of the valuation, Speakeasy will be in a position to seek additional financing to complete all projects and achieve revenue. Founder Marc Geen says, “We are in the home stretch for all of our projects, completing them all this year is an achievable goal even in these challenging times. With our first harvest in, our additional buildings nearing completion, our outdoor field completed and soon to be licensed, we are poised to have an incredible year.”
From all of the SpeakEasy family to all of you our cherished shareholders
Stay safe, stay positive we will get through this together. Founder Marc Geen further states, “You may have some questions you would like answered, we will do everything we can to dedicate time to answer any queries you may have. Additionally, we will be organizing a question and answer period here on the ranch, details to follow. Our thoughts are with you all my friends, stay safe.”
SOURCE Speakeasy Cannabis Club Ltd.
Innocan’s Over-The-Counter Pain Relief Spray Receives FDA’s Technical Validation for Marketing in the USA
Herzliya, Israel and Calgary, Alberta–(Newsfile Corp. – July 13, 2020) – Innocan Pharma Corporation (CSE: INNO) (FSE: IP4) (the “Company” or “Innocan“), is pleased to announce that it has received notice from the FDA that Innocan’s over-the-counter Relief & Go Pain Relief spray product has successfully received technical validation and approval to commence marketing in the USA. Innocan’s pain relief formulation contains a combination of Magnesium oil, Methyl salicylate, Menthol and CBD. The Relief & GO Pain Relief spray is designed to target pain-related muscle and provide relief for joint pain. The unique formulation is administered with a simple dose of spray, roll-on or lotion.
To view an enhanced version of Figure 1, please visit:
“We are excited to receive the approval from the FDA to market our flagship pain relief product in the USA” Iris Bincovich, co-founder and CEO of Innocan states and she continues: “This represents the Company’s ability to develop and practice breakthrough technologies to create new CBD based products for the growing pain relief market.”
According to the American Academy of Pain Medicine chronic pain affects approximately 1.5 billion people worldwide, and research by Prescient & Strategic Intelligence reported that “Chronic Pain Treatment Market to Reach US $105.9 Billion by 2024”.
The Company, through its wholly owned subsidiary, Innocan Pharma Ltd. (“Innocan Pharma Israel”), is a pharmaceutical tech company that focuses on the development of several drug delivery platforms combining cannabidiol (“CBD”). InnoCan and Ramot at Tel Aviv University are collaborating on a new, revolutionary exosome-based technology that targets both central nervous system (CNS) indications and the Covid-19 Corona Virus. CBD-Loaded Exosomes hold the potential to provide a highly synergistic effect of anti-inflammatory properties and help in the recovery of infected lung cells. This product, which is expected to be administrated by inhalation, will be tested against a variety of lung infections.
The Company signed on a worldwide exclusive license agreement with Yissum, the commercial arm of the Hebrew University of Jerusalem to develop CBD drug delivery platform based on a unique-controlled release Liposome to be administrated by Injection. The company plans, together with Prof. Berenholtz, Head of the Laboratory of Membrane and Liposome Research of the Hebrew University to test the Liposome platform on several potential indications. The company is also working on a dermal product integrating CBD with other pharmaceutical ingredients as well as the development and sale of CBD-integrated pharmaceuticals, including, but not limited to, topical treatments for relief of psoriasis symptoms as well as the treatment of muscle pain and rheumatic pain. The founders and officers of InnoCan have commercially successful track records in the pharmaceutical and technology sectors in Israel and globally.
For further information, please contact:
For InnoCan Pharma Corporation:
Iris Bincovich, CEO
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 effectiveness and safety of the Company’s products, , information regarding the markets, requisite regulatory approvals and the anticipated timing for market entry, 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 requisite production and distribution arrangements. Forward-looking information is subject to various risks and uncertainties which 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: general global and local (national) economic, market and business conditions; governmental and regulatory requirements and actions by governmental authorities; and 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) and availability in each market of product inputs and finished products. 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 concerning the timing of launch of product distribution. A comprehensive discussion of other risks that impact InnoCan can also be found in InnoCan’s public reports and filings which are available under InnoCan’s profile at www.sedar.com.
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 Pharma 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/59564
TransCanna Receives State-Wide Operating License
Now owns largest known fully licensed cannabis facilities in California
Vancouver, British Columbia–(Newsfile Corp. – July 11, 2020) – TransCanna Holdings Inc. (CSE: TCAN) (FSE: XETR) (“TransCanna” or the “Company”) is pleased to announce that its wholly-owned subsidiary, Lyfted Farms, Inc. (“Lyfted”), was successfully granted a Type 11 ‘Distributor’ license by the California Bureau of Cannabis Control for its 196,000 square foot Daly Avenue Facility.
This long-anticipated milestone marks the completion of all state and local licenses required for the Company to begin operations at its flagship cannabis processing facility in Modesto, California.
This state-wide license represents Lyfted’s most major milestone to date in meeting the distribution and production capabilities needed to meet the escalating demand for its products in the world’s largest cannabis market. The license was granted after three levels of approvals were achieved at the county and state level and will allow for the commencement of packaging, transport, wholesale, pre-roll assembly, labeling, testing, contract packaging (white-labeling), and of course distribution of cannabis products to all licensed retailers across the state.
“This is the most exciting development in our history and what everyone has been working towards,” says Bob Blink, TransCanna CEO. “Being granted a license at the state level is a long, costly, and complex process, and one that requires navigating and understanding a complex regulatory process. It’s a significant barrier to entry for most companies, so this marks a huge turning point for us. We are delighted to have achieved our biggest goal to date and excited to be able to better serve the demands of the California cannabis market.”
The Company is currently completing upgrades to the flagship Daly Facility. Commercial cannabis activities are expected to commence at Daly August 2020, via the deployment of a 16,000 square foot cannabis distribution center (Phase 1). To date, Lyfted has been able to process in excess of $1M USD/month in wholesale cannabis transactions out of a distribution space of 1,000 square feet from its Jerusalem Court facility. These upgrades will mean the Company now has 16,000 square feet of distribution space at its disposal as of August 2020.
“This exponential increase in capacity is incredibly exciting for investors,” says Blink, adding the Company has been focused on building out its wholesale and distribution business while awaiting its final license. “Having processed a million dollars’ worth of product out of a single one-thousand square foot facility, we are anticipating significant growth now that our 196,000 square foot operation is online.”
Lyfted anticipates hiring up to 250 full-time employees at the flagship site with a strong focus placed on social equity and a diverse workforce that is reflective of the communities it serves and operates in.
About TransCanna Holdings Inc.
TransCanna Holdings Inc. is a California based, Canadian listed company building cannabis-focused brands for the California lifestyle, through its wholly-owned California subsidiaries.
On behalf of the Board of Directors
Bob Blink, CEO
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws or forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs regarding future events of management of the Company. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or “occur”. This information and these statements, referred to herein as “forward‐looking statements”, are not historical facts, are made as of the date of this news release and include without limitation estimates and forecasts and statements as to management’s expectations for growth and the commencement of operations of the Company’s Daly facility.
The forward-looking information in this press release is based upon certain assumptions that management considers reasonable in the circumstances, including that operations will commence at the Company’s Daly facility in Modesto, California, as and when expected.
These forward‐looking statements involve numerous known and unknown risks, uncertainties and other factors that may cause actual results, events or developments to be materially from any future results, events or developments expressed or implied by such forward-looking statements. Risks and uncertainties associated with the forward-looking information in this news release include, among others, dependence on obtaining and maintaining regulatory approvals, including state, local or other licenses and any inability to obtain all necessary governmental approvals licenses and permits to complete upgrades to its Daly facility in a timely manner; engaging in activities which currently are illegal under U.S. federal law and 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, particularly in California, due to inconsistent public opinion, perception of the medical-use and adult-use marijuana industry, bureaucratic delays or inefficiencies or any other reasons; any other factors or developments which may hinder market growth;; reliance on management; and the effect of capital market conditions and other factors (including those related to the COVID-19 pandemic) on capital availability; competition, including from more established or better financed competitors; and the need to secure and maintain corporate alliances and partnerships, including with customers and suppliers.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look, except in accordance with applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/59555
PURA Cannabis Cultivation Spinoff and Dividend Breaking News Update
Dallas, Texas–(Newsfile Corp. – July 10, 2020) – Puration, Inc. (OTC Pink: PURA) now has the following update to the press release published this morning about the management buyout of a separate public company that will in turn purchase PURA’s cannabis cultivation spinoff in exchange for common stock scheduled to close today. The management buyout has been executed by all parties. The purchase is scheduled to be funded on Monday. The management/owner team plans to make a formal announcement on Tuesday, July 14, 2020 (the formal announcement was previously expected on Monday, but to ensure funding is complete first, the announcement is now scheduled for the next day).
PURA – Logo
To view an enhanced version of this graphic, please visit:
The common stock issued in exchange for the PURA spinoff is intended to be issued to PURA shareholders in a dividend distribution.
NCM Biotech, a subsidiary of Kali-Extracts (OTC Pink: KALY) will also be acquired and merged with PURA’s cannabis spinoff.
The management team purchasing control of the target public company is expected to confirm the planned acquisitions of PURA’s cannabis cultivation company and KALY’s NCM Biotech in the announcement now scheduled for Tuesday, July 14, 2020.
PURA’s cannabis cultivation operation is thriving. The operation has recently purchased and relocated to a new property from its former leased property. Texas lawmakers have recently implemented hemp friendly farming regulations and in so doing, universities within the State of Texas have initiated hemp farming research programs. PURA’s cannabis cultivation spinoff has initiated a number of joint research applications with Texas universities.
NCM Biotech is focused on medical research and the development of treatments derived from its patented cannabis extraction process. See a recent research report on CBD extracts derived from NCM Biotech’s patented extraction process: Journal of Cannabis Research.
For more information on Puration, visit http://www.purationinc.com
This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company’s current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies’ contracts, the companies’ liquidity position, the companies’ ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur. These statements have not been evaluated by the Food and Drug Administration. These products are not intended to diagnose, treat, cure, or prevent any disease.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/59533
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