Acquired Sales Archives - Green Market Report

StaffStaffAugust 20, 2019
daily_hit004-1280x533.png

7min2900

It’s time for your Daily Hit of cannabis financial news for August 20, 2019.

On The Site

iAnthus

Multi-state operator iAnthus Capital Holdings, Inc. (CSE: IAN)(OTCQX: ITHUF) said that it has entered into a senior secured term loan of up to $50 million from one or more investment funds managed by Torian Capital Partners. The loan will be doled out in two tranches of $25 million each with similar terms.

iAnthus said it will use the money for its expansion efforts in Florida and the company’s new Be. retail locations in Nevada, New Jersey and New York. The company is expected to report its second-quarter earnings on August 27.  Last month the company noted that its CBD For Life products will be sold in Dillards Department Stores.

BDS Analytics

Cannabis data company BDS Analytics announced that it closed on $7 million in new financing, led by KEY Investment PartnersAltitude Investment Management, and 7thirty, with participation from other investors. A part of the financing deal, Pete Karabas of KEY Investment Partners will be joining the board of directors. BDS said it will use the money to expand coverage of emerging cannabis markets and strengthen its operating infrastructure with investments in machine learning, marketing and sales, and strategic partnerships.

“As the global cannabis economy continues to expand, it is imperative that we’re able to scale alongside it to remain an indispensable asset for key decision-makers in the industry,” said Roy Bingham, CEO, and Founder of BDS Analytics. “We’re excited about this new round of funding, which will allow us to further enhance our GreenEdge platform and expand our capabilities to the entire addressable cannabinoid market.”

In Other News

Organigram

Organigram Holdings Inc. (NASDAQ: OGI) (TSX VENTURE: OGI) received final approval for the listing of its common shares on the Toronto Stock Exchange (“TSX”). Organigram’s common shares will commence trading on the TSX at the opening on Thursday, August 22, 2019, continuing to trade under the symbol OGI. To ensure continued and seamless trading for the Company’s shareholders and as a result of the graduation, there will be no further trading on the TSX Venture Exchange after Wednesday, August 21, 2019. Organigram’s common shares will be delisted from the TSX Venture Exchange at the commencement of trading on the TSX.

Empower Clinics

Empower Clinics  (CSE: CBDT) (OTC: EPWCF) a vertically integrated and growth-oriented CBD life sciences company, and a multi-state operator of medical health & wellness clinics in the U.S., announced that its common shares will begin trading on the OTCQB Venture Market at the opening of the market on August 20th, 2019 under the stock symbol (OTC: EPWCF). “Our listing on the OTCQB Venture Market in the United States complements Empower’s listings on the Canadian and Frankfurt Stock Exchanges, respectively, broadening our investment base as we accelerate our growth strategy in the global medical cannabis and wellness sectors,” said Steven McAuley, Empower CEO.  “This is a timely milestone, as we have a robust pipeline of activity tied to product development, business development, M&A and, overall company expansion.”

Acquired Sales Corp.

Acquired Sales Corp. (OTC Pink: AQSP) announced that it has signed a definitive merger agreement to acquire 100% of CBD LION LLC (www.CBDLION.com), Mundelein, Illinois, for consideration of $2 million in cash, plus 5 million shares of Acquired Sales Corp.’s common stock. Acquired Sales Corp. also announced that it has loaned $300,000 to CBD LION LLC that will be used as growth capital.


Debra BorchardtDebra BorchardtMay 28, 2019
CBDLion.png

4min5641

Acquired Sales Corp. (OTC Pink: AQSP) signed a letter of intent to acquire 100%  Illinois-based Warrender Enterprise Inc. also known as Lifted Liquids for approximately $7.5 million in cash, plus 4,545,455 shares of Acquired Sales Corp.’s common stock. Those shares were lately trading at $2.45.

The deal is subject to several conditions including the completion of an acceptable due diligence investigation and audit of Lifted Liquids, completion of a capital raise of at least $9 million by Acquired Sales Corp., execution of definitive acquisition documents, receipt of a tax opinion on the transaction, obtaining all necessary approvals, and the completion of all necessary securities filings.

Lifted Liquids was founded in 2015 and produces its own lines of CBD-infused products, CBD devices, research and development of CBD and vape brands and products for private label clients. The statement noted that Lifted Liquids has a unique raw goods/CBD supply chain that many customers benefit from: CBD and CBG isolate, full spectrum and broad spectrum water soluble and distillate.

Lifted Liquids CEO Nicholas S. Warrender said: “We are absolutely thrilled to join forces with like-minded individuals operating companies who are focused on the consumer first. Our goal is, and always has been, to help people improve their lives through quality products and to create a company that serves as a magnet to attract high caliber individuals with harmonious values and character.” Warrender will continue as the CEO of Lifted Liquids under a long-term employment agreement, and Lifted Liquids will operate as a wholly-owned subsidiary of Acquired Sales Corp.

CBD Lion Acquisition

Just a few weeks ago Acquired Sales said it planned to buy another Illinois company CBD LION LLC and said it planned to change the combined company’s name to CBD LION CORP. to emphasize its vision to become the national leader in the CBD products industry. Acquired Sales has already acquired 4.99% of rapidly growing CBD-infused beverage and products maker Ablis Holding Company and of craft distillers Bendistillery Inc. and Bend Spirits, Inc. Bend, Oregon.

William C. “Jake” Jacobs, CPA, President and CFO of Acquired Sales Corp., said: “We are excited about partnering with Nick and the Lifted Liquids team. Lifted Liquid’s growth reflects Nick’s outstanding leadership and his team’s determination to deliver the highest quality products to Lifted Liquids’ customers. On top of that, Lifted Liquids and Nick bring a lot of proven industry and regulatory experience, and an expansive network, which gives Lifted Liquids a competitive edge.”



About Us

The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis


READ MORE



Recent Tweets

@GreenMarketRpt – 3 days

Our biggest fans this week: timseymour, arcviewgroup. Thank you! via

@GreenMarketRpt – 4 days

My week on Twitter 🎉: 6 Mentions, 28.8K Mention Reach, 11 Likes, 3 Retweets, 119K Retweet Reach. See yours with…

Back to Top

You have Successfully Subscribed!