Video Staff
Zynerba Pharmaceuticals Inc. (ZYNE) announced 12-month results for its cannabidiol (CBD) gel to treat adults with epilepsy. The data is being presented today at the Emerging Science session of the 2018 Annual Meeting of the American Academy of Neurology (AAN) in Los Angeles, CA. The company is saying that the data show over the long term is seizures are reduced, yet the placebo effects in the study weren’t published.
Ontario-based medical marijuana company OrganiGram Holdings Inc.(OGRMF) reported second-quarter results with record gross sales of C$3.2 million, a 123% increase over the same time period in 2017. The company also delivered net income in the second quarter of C$1.0 million over last year’s loss of C$5.7 million. Dried cannabis flower sales increased 68% in the quarter to 238 grams. But the real story was the 297% increase in sales in cannabis oil with 552 ml being sold versus last year’s 139ml.
MJIC Inc. announced that it had completed its quarterly rebalancing of the U.S. and Canadian Marijuana Index. Adding four companies in total, the company added General Cannabis Corp. (CANN) and Liberty Health Sciences (LHSIF) to the U.S. Index and added Hiku Brands Company Ltd. (HIKU) and Isodiol International Inc. (ISOL) to the Canadian Index.
Acquisitions continue
Golden Leaf Holdings (GLH) announced that is has signed a letter of intent (LOI) to acquire a cannabis dispensary in northern California. Included in this transaction are all of the dispensary’s assets; such as licenses and permits for cannabis cultivation, production, manufacturing, distribution, and retail. Under the agreement, Golden Leaf will pay $1.25 USD million upfront in cash, an additional $500,000 in stock, and earn-out payments of up to $8 million based on future revenue thresholds.
Cleartronic, Inc., (CLRI) announced today its subsidiary VoiceInterop, Inc. has signed a “Definitive Agreement” for the acquisition of the assets and intellectual property of CanniPlus Global, Inc., a Florida based medical CBD company.
Nutritional High International Inc. (SPLIF) announced that it signed an agreement to purchase California-based Pasa Verde, LLC. a leading cannabis extraction and toll processing facility in Sacramento, California. Pasa Verde operates a 17,600 sq ft extraction facility in Sacramento’s “Green Zone” and was the first operator in Sacramento to receive its Conditional Use Permit.
Emblem Corp. (EMMBF) announced that it purchased C$2.5 million of units of Fire & Flower Inc. at a price of C$0.80 per unit as part of a larger unit offering conducted by Fire & Flower.
Cannabis Strategic Ventures, Inc., which just completed the definitive agreement to acquire Worldwide Staffing Group, Inc.
General Cannabis Corp. (CANN) announced that it completed the closing of a private placement transaction with various private parties, including existing and new investors in General Cannabis. The company issued $5.54 million of senior secured promissory notes and an aggregate of 4,432,000 warrants to purchase common stock at the closing.
CannaRoyalty (CNNRF) company AltMed closed on a $35 million private placement.
