Debra Borchardt
Here are your quick news hits for March 9, 2018:
Aurora Cannabis (ACBFF) said it is ready to take up the CanniMed Therapeutics shares and pay for those shares with stock and cash. According to a company statement, “Aurora will issue a total of approximately 50.6 million Aurora common shares and pay a total of approximately $98 million in cash for the CanniMed Shares tendered as of March 8, 2018.” In addition to that, Aurora said it completed a $230 million convertible debenture offering. The company intends to use those proceeds to complete the CanniMed acquisition, plus putting some money towards the cost of a production facility in Denmark.
Tikun Olam USA announced the closing of a $7 million offering of 6% convertible promissory notes maturing in March 2019. According to a company statement, proceeds from the notes will be used for product research and development, enhancing and protecting intellectual property, patient studies and trials, advertising and marketing of Tikun’s brand, payment of corporate, organizational and transactional expenses, repayment of indebtedness to a related party, and working capital and general corporate purposes. Tikun is in the process of bringing its cannabis products to more than 10 U.S. states
The Muncheez app was approved by the Apple App store and is available for download. It is similar to Google Business in that it allows cannabis businesses to claim their profiles and activate their business pages. Muncheez says it only lists licensed businesses, unlike WeedMaps which has come under fire in California for promoting illegal dispensaries.
Canadian-based New Age Farms (NWGFF) announced that its subsidiary facility in Denver has officially launched its new website We Are Kured. It is a retail site that sells its first product a hemp-based vaporizer pen filled with CBD oil. There are three variations, an indica blend called OG Kush Terpenes, a sativa blend called Pineapple Express Terpenes and a hybrid called Strawberry Diesel Terpenes.
