These are today’s news briefs for the cannabis industry.
Cannabis software company Alternate Health Corp (AHGIF) announced that it has entered into a software-as-a-service agreement with MedMen, one of the largest cannabis companies in the U.S., to provide e-commerce and digital payment services. Alternate Health’s StatePass system will begin beta testing with MedMen in their New York dispensaries.
Sundial Growers Inc. announced that it has entered into an agreement with Cannabis Wheaton Income Corp. (CBWTF) for $7 million in non-dilutive debt financing. The funding will be used towards the expansion of Phase 2 of Sundial’s flagship facility in Olds, Alberta.
Future Farm Technologies
Future Farm Technologies Inc.
) announced its estimated 2018 projections on its 10-acre operating greenhouse. This 10-acre greenhouse in Apopka, Florida
is located in a designated legal grow zone with close proximity to Orlando. The greenhouse business will provide Future Farm with cash flow while serving as a major building block for the Company as it prepares to position itself in the emerging Florida cannabis market, estimated to climb to $1.6 billion in medical cannabis sales by 2020. According to the company statement, “The Company plans to upgrade the nursery’s technology platform with new computers and software, a new phone system and fully implemented automated accounting, inventory management and order tracking systems.”
Hiku Brands Company Ltd.
(CSE:HIKU) announced its wholly-owned subsidiary DOJA Cannabis Ltd., a licensed cannabis producer under the Access to Cannabis for Medical Purposes Regulations has completed Health Canada’s Pre-Sales License Inspection of DOJA’s West Kelowna facility. The Pre-Sales License Inspection is the last step prior to the issuance of a Sales License under the ACMPR.
Merida Capital announced it has launched $75 million fund
. Private equity firm Merida Capital Partners filed a Form D
in February disclosing that it had raised $7.41 million of the total offering size of $75 million. According to a press release on New Cannabis Ventures the company said, “It is looking to diversify even more and potentially delve into other areas such as cultivation, dispensing, life sciences, and consumer packaged goods. Merida Capital already started moving into the direct production with an investment in Valley Agriceuticals, one of a handful of growers in the New York medical market. Its “asset-light” model captured the firm’s attention.”