Staff
It’s time for your Daily Hit of cannabis financial news for January 3, 2019.
On the Site
TILT Holdings Inc. (CSE: TILT) (OTC: SVVTF) has acquired vape technology company Jupiter Research in a deal valued at $210 million. The acquisition is expected to close on January 31. TILT’s goal was to expand its technology ecosystem and B2B reach across the supply chain.
“Our latest acquisition of Jupiter Research is paramount to our goal of consolidating and centralizing services for all industry verticals: cultivation, production, and retail,” said Alex Coleman, Chief Executive Officer of TILT Holdings. “Vaporization is increasingly becoming the preferred method for cannabis consumption. With Jupiter’s proprietary inhalation technology, our offerings in this category are going to be unparalleled.”
In Other News
Applied BioSciences Corp. (OTCQB: APPB) announced that it has withdrawn its Registration Statement filed on December 3, 2018, and will not sell any securities under the Common Stock Purchase Agreement related to the Registration Statement. “The regulatory backdrop has changed significantly since we started the company, almost three years ago. Applied BioSciences has strived to be a cutting-edge organization and our experience in the space is a competitive advantage. With our current portfolio of brands and investments we believe there are multiple financing and strategic alternatives to generate shareholder value which are in the best interest of the company and our investors.” stated Chris Bridges President.
The Green Organic Dutchman Holdings Ltd. (TSX : TGOD) (US : TGODF) signed a royalty-bearing commercial sublicense with EnWave Corporation (TSX-V:ENW) and Tilray, Inc. (NASDAQ:TLRY). EnWave has developed patent-pending methods for uniformly drying and decontaminating cannabis through the use of REV technology, shortening the time from harvest to marketable cannabis products.
EnWave and Tilray entered into an exclusive partnership in October 2017 in which EnWave named Tilray as its licensed partner. The License grants Tilray an exclusive right to use and sub-license EnWave’s proprietary REV™ dehydration technology in Canada. Under the terms of the License, EnWave and Tilray will share royalties from TGOD’s use of EnWave’s REV™ technology on an undisclosed basis.
CV Sciences, Inc. (OTCQB:CVSI) received certification from the US Hemp Authority™ Guidance Program. Established in 2018, the US Hemp Authority™ Certified program was developed by the US Hemp Roundtable, and is designed to specifically educate hemp farmers and hemp finished product producers in FDA Current Good Manufacturing Practices (cGMP) and Good Agricultural Practices (GAP) to ensure that consistent quality is achieved. The U.S. Hemp Authority™ Certification Program is administered by experienced quality assurance and verification professionals from industry-leading food and agricultural companies.
