Staff
Here is your Daily Hit of cannabis financial news for April 17, 2018:
On The Site
MPX Bioceutical Corporation
MPX Bioceutical Corporation (MPXEF) signed a letter of intent to acquire all the issued and outstanding shares of private company Canveda Inc., a Licensed Producer under Health Canada’s Access to Cannabis for Medical Purposes Regulations. The Ontario-based Canveda operates a fully built-out facility that is about to begin its first production run and is capable of producing approximately 1,000-1,200 kilograms of high-quality cannabis flower annually.
GW Pharmaceuticals Inc.
Shares of GW Pharmaceuticals (GWPH) jumped on positive news in a Food & Drug Administration (FDA) report issued on Tuesday. The stock jumped 11% to trade at $134.14. The FDA briefing document said that GW’s drugs had positive results in treating patients with the rare Lennox-Gastaut Syndrome (LGS) and Dravet Syndrome (DS).
In Other News
Livewell Foods Canada Inc.
Livewell Foods Canada announced that it entered into a C$10 million private placement deal. It was led by Canaccord Genuity Corp. and included Beacon Securities Ltd., Echelon Wealth Partners Inc. and GMP Securities L.P. The Company intends to use the net proceeds of the offering to complete the 108,000 sq. ft Phase 1 retrofit (of a total planned 540,000 sq. ft) of the Artiva Greenhouse Facility in Ottawa, advance construction of the initial 100,000 sqft (of a total planned 1,000,000 sq. ft) of the Pontiac Project in Quebec and for general working capital purposes.
VANC Pharmaceuticals Inc.
VANC Pharmaceuticals said that it has entered into a supply and distribution agreement with an affiliate of Emerald Health Therapeutics, Inc. (EMHTF) in which VANC was granted rights to sell and distribute certain proprietary endocannabinoid-supporting products in Canada to licensed pharmacies. In addition to that, VANC entered into an arrangement with a different affiliate of Emerald to work together to distribute medical cannabis to Canadian pharmacies if the pharmacies become authorized to do so by Health Canada.
True Leaf Medicine International Ltd.
Cannabis pet company True Leaf (TRLFF) announced key leadership appointments. Don Chisholm has been appointed True Leaf’s Chief Marketing Officer. His creative agency, Dossier, has been named the company’s branding partner. Hill+Knowlton Strategies (Hill+Knowlton) will be True Leaf’s government relations advisors.
PRØHBTD
Cannabis media company PRØHBTD said it is raising $5m in a Series A equity round at a valuation of $25m. The company is a media platform that focuses on the cannabis industry. It creates, builds and markets brands to global audiences and operates a creative studio and multi-platform video network.
