William Sumner
Here are today’s cannabis news briefs for March 29, 2018:
Emblem Corp.
Emblem Corp. (EMC) announced that it has entered into an agreement with Shoppers Drug Mart to become its medical cannabis provider, pending Health Canada’s approval of Shoppers Drug Mart’s application to become a licensed producer. Under the agreement Emblem will provide Shoppers Drug Mart with branded medical cannabis products, which is to be sold online due to government restrictions on retail pharmacies selling medical cannabis.“From the very beginning we’ve been very focused on being a leader in the medical cannabis space, not only from the production side, but also when it comes to physician and patient education,” commented Nick Dean, CEO of Emblem Corp. “Today’s deal with Shoppers Drug Mart helps to solidify that and positions us well to be a world leader of cannabis for medical purposes.”
Organigram Holdings
Organigram Holdings (OGI) announced today that it has accepted the resignation of Denis Arsenault as Chairman of the Board. Arsenault will continue to providethe company guidance on an ad hoc basis. Filling the vacant position will be Peter Amirault, who currently serves as lead director. “During his tenure with Organigram, Peter has demonstrated strong leadership skills and excellent business acumen” Arsenault said.”I am certain that he will continue to steward the Company going forward with a view to organizational excellence”.
Veritas Pharma Inc.
Veritas Pharma Inc. (VRT) announced today the closing of a private placement of units, valued at $1.5 million. According to the terms of the offering, the company will issue three million units of the company. One unit of the company is defined as one common share and one share purchase warrant for $0.50 per share. Additionally, each share purchase warrant will allow the holder to purchase an extra share for $0.70 per share, for the next three years, following the closing date.“The closing of the private moves the Company forward as we will fully be financed to execute on our plans on the continuation of human trials and to keep an eye on the market for additional acquisition opportunities,” stated Veritas CEO, Dr. Lui Franciosi. “We will also be in a position for next steps with Health Canada on the Company’s ACMPR licensing process.”
