Alliance One Archives - Green Market Report

StaffMay 21, 2018
daily_hit004.png?fit=1200%2C500&ssl=1

6min14650

It’s time for your Daily Hit of cannabis financial news for May 21, 2018.

On The Site

Alliance One International, Inc.

Alliance One International, Inc. (AOI)  said that its Canadian Prince Edward Island-based indirect subsidiary, Canada’s Island Garden, will undergo a significant expansion to support the growth of its Canadian cannabis line. Canada’s Island Garden is Prince Edward Island’s only federally licensed producer of cannabis. This expansion will increase Canada’s Island Garden’s production capacity to an excess of 35,000 kilograms.

In Other News

Evio Inc.

Cannabis testing company EVIO Inc.  (EVIO), announced that it has executed a long-term lease for a 2,700 square foot facility in Los Angeles, California to provide its accredited analytical testing services to the Southern California cannabis market.

Located in the heart of Los Angeles in the Mission Junction District, the new facility is strategically positioned to serve the largest marketplace in the United States.  According to Forbes, Los Angeles was accountable for over 40% of the state’s medical cannabis revenue.  With about over 10 million people in Los Angeles County, the market potential for medical and recreational cannabis can surpass entire states like Colorado and Washington.  Due to California’s July 1st testing deadline mandating licensed retailers to sell the only lab tested product, the company is expecting a significant uptick in the need for testing services. There is a high concentration of distributors planned to operate in the city. This would make L.A. home to the greatest number of legal MMJ and adult-use cannabis businesses of any municipality in the country.

Invictus MD Strategies Corp.

Invictus MD Strategies (IVITF) announced that Acreage Pharms Ltd. has received its sales license from Health Canada pursuant to the Access to Cannabis for Medical Purposes Regulations (ACMPR) effective May 18, 2018.

Dan Kriznic, Invictus Chairman, and CEO commented, “We are thrilled to have obtained our sales license from Health Canada. This is the crowning milestone in our licensing journey for Invictus, as we march towards fulfilling capacity goals during this historic and important year for Canada’s cannabis industry. We started this company in 2014 with the intention of becoming Canada’s Cannabis Company. With the granting of Acreage Pharms’ sales license and the completion of the Phase 2 structure at Acreage Pharms, two key milestones in the drive towards that intent now have been achieved. This dramatically advances our timeline for increasing our annual run-rate production capacity at our current 39,600 square foot facilities and construction plan for the 80,000 square foot Phase 3 to be completed by September 2018 in time for the adult-use market.”

NuvusGro Corp.

Cannabis software company NuvusGro Corp. (NUVG), announced that it has been contracted by Infrax Systems (IFXY) to develop and manufacture Mobile Mining Unit (MOMU) using its Grow.Droid Enterprise Technology to mine Bitcoin, Ether, BCH, and Altcoins. Grow.Droid technology has been used to develop and manufacture sophisticated container based grow systems.

MoMu is a mobile container-based computer mining operation that can be easily transported from site to site. Just plug into power, connect to the internet via satellite and start mining cryptos. A completely self-contained unit ready to house and operate 128 to 164 GPUs or Asics. The Nuvus Mobile Mining Unit is constructed from a 20-foot shipping container and comes attached to a sturdy trailer base which can be towed via most pickup trucks and larger SUVs. This self-contained unit has everything needed to start mining operations, just add preferred mining computers and equipment.

GrowGeneration Corp.

GrowGeneration Corp. (GRWG) hired Yoshi Sakashita to the position of Vice-President of GrowGen Management Corp. GrowGen is focused exclusively on providing product driven solutions, that lower costs and increases the efficiencies for large commercial cultivation operations.

Cannidex Brands

Cannidex Brands signed an exclusive license agreement with Alternative Solutions, Washington, DC’s premier cannabis cultivator.  The agreement allows Alternative Solutions to manufacture CANNIDEX+ and distribute the product to all licensed Washington, DC dispensaries.

“We couldn’t be more excited to be working with the exceptional team at Alternative Solutions,” said Scott Gerhardt with Cannidex Brands.  “We had the incredible opportunity to come to Washington and tour several dispensaries, and are pleased to be collaborating with Alternative Solutions to bring CANNIDEX+ to this wonderful and thriving community.”

 


Debra BorchardtMay 21, 2018
shutterstock_695448160.jpg?fit=960%2C640&ssl=1

3min19010

Alliance One International, Inc. (AOI)  said that its Canadian Prince Edward Island-based indirect subsidiary, Canada’s Island Garden, will undergo a significant expansion to support the growth of its Canadian cannabis line. Canada’s Island Garden is Prince Edward Island’s only federally licensed producer of cannabis. This expansion will increase Canada’s Island Garden’s production capacity to an excess of 35,000 kilograms.

The first phase of the expansion will include a 166,000 square-foot greenhouse and a 54,000-square-foot warehouse, which will cost the company $27 million or C$35 million. The second phase will add an additional 90,000 square feet of greenhouse space. According to a company statement, Phase 1 will increase the facility’s annual production capacity from 1,200 kilograms to 18,000 kilograms and is expected to be complete in spring 2019. It went on to add. assuming completion of Phase 2, Canada’s Island Garden would have a total annual production capacity in excess of 35,000 kilograms.

Both expansion phases are designed to take advantage of the latest in horticulture and cannabis production to allow for the production of a premium-quality and sustainable product for consumers in Canada. The end goal is to create a comprehensive transparency and traceability, from plant to final product, while also including security protections to maintain proper control of the facility.

Alliance One’s wholly owned indirect subsidiary of Canadian Cultivated Products acquired 75% of Canada’s Island Garden. The Canadian companies have been working on a new naming and branding concept which will be FIGR Cannabis. Canada’s Island Garden to FIGR East and Goldleaf Pharm, a sister company in Simcoe, Ontario, to FIGR Norfolk. The FIGR products are expected to be available to consumers once adult-use sales are legalized. Medial marijuana patients will continue their sales under Canada’s Island Garden.

Stock Performance

Alliance One stock was lately trading at $18.65, down from the 52-week high of $30.70. It is one of the few cannabis companies that trade on the New York Stock Exchange.


Don't Miss This Week's Groundbreaking News

Join the thousands of subscribers who stay informed with GMR's exclusive news briefs delivered directly to your inbox every Friday afternoon.

We respect your privacy. See our privacy policy.


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 – 4 days

One last before the holidays. Sending out and turning off the lights.

@GreenMarketRpt – 4 days

We know you love your family, but even the stress can sometimes be a little too much and can take off the…

Back to Top

Don't Miss This Week's Groundbreaking News

Join the thousands of subscribers who stay informed with GMR's exclusive news briefs delivered directly to your inbox every Monday morning.

We respect your privacy. See our privacy policy.