Debra Borchardt
It’s time for your Daily Hit of cannabis financial news for July 17, 2018.
On The Site
Aphria Inc. (APHQF) is acquiring Scythian Biosciences Corp. (SCCYF) Latin American and Caribbean assets in a deal valued at $193 million. The acquisition will allow Aphria to quickly expand into Columbia, Argentina, and Jamaica. It will also give Aphria first offer and refusal for Brazil.
The statement from Scythian read, “Aphria will issue C$193 million in shares to Scythian and assume USD $1 million in aggregate liabilities of the Target Corporations owing to Scythian resulting in Scythian having well over $ 200 million in cash and marketable securities on hand. The transaction will have Aphria acquire 100% of the outstanding shares of LATAM Holdings, which is the wholly-owned subsidiary of Scythian.
In Other News
Medicine Man Technologies Inc.
Medicine Man Technologies Inc. (MDCL) announced an exclusive licensing agreement with Canada House Wellness Group Inc. (CSE: CHV), through its wholly-owned subsidiary Abba Medix Corp., for deployment of its intellectual property and product lines (Three a Light™, Success Nutrients™, General Intellectual Property) into the Canadian marketplace. The licensing agreement calls for an initial payment of $4.65M (CAD) in the form of cash and stock for licensing of Medicine Man Technologies’ intellectual property, product lines, and assignment of an existing Cultivation MAX agreement to Canada House.
Khiron Life Sciences Corp.
Khiron Life Sciences Corp. (KHRN), a Canadian integrated medical cannabis company with its core operations in Colombia, announced today that it has appointed former President of Mexico Mr. Vicente Fox Quesada to its board of directors, effective immediately. Mr. Fox will be a strategic advisor and brand ambassador for the Company, furthering the Company’s education and brand leadership interests across Latin America. From December 2000 to November 2006, Mr. Fox was the 55th President of Mexico. Prior to that, he was the Chief Executive Officer of Coca-Cola Latin America. Mr. Fox was also recently named to the board at High Times Magazine.
The Green Organic Dutchman Holdings Ltd.
The Green Organic Dutchman (TGODF) announced, in conjunction with Epican Medicinals, the successful opening of its first legal cannabis retail store in Jamaica, on Saturday, July 14th. This flagship location provides Epican and TGOD with immediate revenue from the sale of premium Jamaican grown organic cannabis and further exemplifies TGOD’s value-added approach to partnerships.
MedMen Enterprises
MedMen (MMNFF) named marketing industry veteran David H. Dancer as the chief marketing officer. With more than 25 years of experience connecting brands with consumers such as American Express, Visa, and Teleflora, Dancer will play an instrumental role in MedMen’s forward-looking expanded retail footprint in North America and the continued effort to build consumer credibility in a largely misunderstood new consumer category.
CV Sciences, Inc.
CV Sciences, Inc. (CVSI) announced that its flagship brand, PlusCBD Oil,™ continues to expand its distribution in the natural, healthy, and organic industry. The Company today announced that its brand of #1 selling hemp CBD products (according to SPINS® scan data) are currently available in 1968 natural and organic health food stores as of June 30, 2018. This represents an 11.1% sequential increase over the Company’s retail store count as of March 31, 2018.
Veritas Pharma Inc.
Veritas Pharma Inc. (VRTHF) signed an Intellectual Property Sharing Agreement with Sativa Investments PLC (NEX:SATI), UK’s first medicinal cannabis investment fund. Veritas through its subsidiary company, Cannevert Therapeutics Ltd., will apply its pharmacological methods on cannabis strain lead selection to assist Sativa’s application to the UK Home Office Drugs Licensing and Compliance Unit for a medicinal cannabis growing license.
