Arcadia Biosciences Archives - Green Market Report

William SumnerMay 9, 2019
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6min13940

It’s time for your Daily Hit of cannabis financial news for May 9, 2019.

On the Site

Cronos Group

Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) reported financial results in Canadian dollars for the first quarter ending March 31, 2019, with net revenue rising 129% to $6.5 million from $2.9 million for the same time period in 2018. The rise in revenue was due to the addition of adult use sales in Canada. Net revenue increased 15% sequentially from $5.6 million in the fourth quarter of 2018.

3 Ways to Buy Into Marijuana Stocks Without the Risk

Sure, these stocks won’t rise as much as some of the pure marijuana stocks. But, you know what? They won’t fall as much either and they’ll still be able to reap potential billions in revenues derived from cannabis. With that, here are the 3 top partners of the marijuana stocks and why you should focus on them.

Arcadia Biosciences

Just two months after announcing the launch of Arcadia Specialty Genomics™, a new cannabis-dedicated division of agricultural crop improvement, the company has released images of its first crop of sun-grown, Hawaiian hemp. Arcadia’s new cannabis unit, cultivates six Hawaiian hemp strains on its 10-acre Hawaiian facility.

In Other News

Charlotte’s Web Holdings

Charlotte’s Web Holdings, Inc. (CSE: CWEB) (OTCQX: CWBHF) announced the pricing of its previously announced underwritten public offering 7 million common shares at C$20 per share. The offering should raise approximately C$140 million. As the shares are being sold by current shareholders, the company will not receive the proceeds from the offering. The selling shareholders have additionally granted underwriters a 30-day option to purchase another 15% of the common shares offered in the proposed public offering. Canaccord Genuity Corp. will act as the sole bookrunner for the offering.

Alternate Health

Alternate Health Corp., (CSE: AHG) (OTCQB: AHGIF) is looking to expand into Latin America. Today the company announced that it has entered into a joint venture agreement with Oltecate Enterprises, a COFEPRIS-licensed Mexican CBD distributor. Under the agreement the parties will establish a Mexican corporation with the name of Alternate Health Latin America S. de. R. L. de. C.V. (“AHLA”). Alternate Health will own 55% of the company and Oltecate will own 45%. Upon closing, Federico Cabo, owner of Oltecate Enterprises, will receive 1,500,000 common shares of Alternate Health.

Terra Tech

Terra Tech Corp. (OTCQX: TRTC) announced its financial results for the third quarter ending on March 31, 2019. Year-over-year, revenue for the quarter declined from $8.6 million in 2018 to $7.4 million. Management credited the decline in revenue to higher tax levels in the state of California, which depressed sales figures. Nevertheless, the company’s net loss for the quarter also declined, falling from $12.2 million in the first quarter of 2018 to $5.1 million. Likewise, the gross margin grew from 36.2% to 54.4%.

Neptune Wellness Solutions

Neptune Wellness Solutions Inc. (NASDAQ: NEPT) (TSX: NEPT) has signed a definitive agreement to acquire all of the assets of SugarLeaf Labs, LLC and Forest Remedies LLC, a registered North Carolina-based commercial hemp company providing extraction services and formulated products, for $150 million. Included in the acquisition is a 24,000 square foot hemp production facility capable of producing 1.5 million kilograms of hemp annually. Under the agreement, Neptune will pay $12 million in cash and $6 million in common shares upon closing. Depending on the fulfillment of certain milestones, Neptune will pay an additional $132 million over the next three years in a combination of cash and common shares. The transaction is expected to close on or around July 31, 2019.


AxisWireMay 7, 2019
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8min20810

Arcadia Biosciences’ Hawaiian Hemp Farm in Full Bloom

Arcadia Specialty Genomics, the company’s new cannabis unit, cultivates six Hawaiian hemp strains on its 10-acre Hawaiian facility.

DAVIS, Calif. (May 7, 2019) /AxisWire/ – Just two months after announcing the launch of Arcadia Specialty Genomics™, a new cannabis-dedicated division of agricultural crop improvement leader Arcadia Biosciences, the company is releasing images of its first crop of sun-grown, Hawaiian hemp.

Arcadia Specialty Genomics focuses on the development of novel cannabis varieties possessing productivity, pest resistance and crop quality traits for license to cultivators in federal and state legal markets, and as products such as hemp-derived CBD oils for the nutraceutical and food industries.

In March, the company revealed it had been granted an Industrial Hemp Pilot Program (“HIHPP”) License by Hawaii’s Department of Agriculture. The license allows for the cultivation of industrial hemp for the purposes of agricultural and academic research. Hemp and hemp products produced under the program may be commercially sold.

With a 10-acre field station in Hawaii, Arcadia is producing its first research crop of hemp to test the impact of climate and geography on crop parameters like yield and quality. Arcadia Specialty Genomics’ scientists and agronomists are evaluating and characterizing the performance of a number of local strains against various climate and biological conditions to understand the attributes of each, as well as identify opportunities for improvement. In addition, the company has hired full time staff at its Hawaii facility to oversee the ongoing research and grow operations.

“It’s highly gratifying to see our first hemp research crop taking root in Hawaii, having planted six different Hawaiian strains,” said Matt Plavan, president of Arcadia Specialty Genomics and CFO of Arcadia Biosciences. “In order to solve for crop variability – a major concern for U.S. hemp farmers – we first need to understand its drivers. We’re applying the sound, scientific approaches we’ve used to improve other crops, such as wheat, to create new breeds of superior hemp.”

Hawaii is the first state where Arcadia Specialty Genomics has commenced its research and cultivation of hemp in federal and state legal cannabis markets, using non-GMO techniques to produce superior U.S. hemp crops.

While traditional agricultural crops can be difficult to grow and export economically in Hawaii, the rich soil and warm climate are ideal for cultivating high-value crops such as hemp.

Arcadia Biosciences is a recognized leader bringing deep experience and established capabilities in this kind of crop innovation and optimization, delivering proven results safflower, wheat and durum such as:

  • A 100 percent increase in the production of omega-6 GLA for safflower
  • Two to six times more fiber than standard wheat and durum with its proprietary GoodWheat™ flour
  • A 65 percent reduction in allergenic gluten content in its GoodWheat™ flour
  • 30 percent more lysine, an essential amino acid, in GoodWheat™ compared to standard wheat

The company expects to harvest its first crop of Hawaiian-grown research hemp this summer. For more information, visit www.arcadiabio.com.

About Arcadia Specialty Genomics

Arcadia Specialty Genomics is a strategic business unit of Arcadia Biosciences, Inc. leveraging the market-leading capabilities of its parent company to deliver crop innovation into developing proprietary, industry-leading cannabis germplasm. Focused on productivity, pest resistance and favored quality traits, Arcadia Specialty Genomics’ innovations serve the state- and federally-legal nutraceutical, food and industrial markets. For more information, visit www.arcadiaspecialtygenomics.com

About Arcadia Biosciences, Inc.

Arcadia Biosciences, Inc. (Nasdaq: RKDA) develops and markets high-value food ingredients and nutritional oils that help meet consumer demand for a healthier diet. Arcadia’s GoodWheat™ branded ingredients deliver health benefits to consumers and enable consumer packaged goods companies to differentiate their brands in the marketplace. The company’s agricultural traits are being developed to enable farmers around the world to be more productive and minimize the environmental impact of agriculture. For more information, visit www.arcadiabio.com.

Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially, and reported results should not be considered as an indication of future performance. These risks and uncertainties include, but are not limited to: Arcadia Specialty Genomics’ expectations about the cannabis industry and potential demand for our products; the uncertainty of the laws and regulations relating to cannabis and products derived therefrom; the inherent uncertainty associated with the development of new projects; our ability to obtain proper licenses and successfully complete research programs related to cannabis; the acceptance of our products in the marketplace; the impact of competitive products and pricing;  risks related to costs, delays and uncertainties associated with potential future scientific research, product development, clinical trials and the regulatory approval process; our partners’ and affiliates’ ability to develop commercial products incorporating cannabis related traits, and complete the regulatory review process for such products; our compliance with laws and regulations that impact our business, and changes to such laws and regulations; our future capital requirements and ability to satisfy our capital needs; our ability to develop, enforce and defend our intellectual property rights; and the other risks set forth in our filings with the Securities and Exchange Commission from time to time, including the risks set forth in our Annual Report on Form 10-K for the year ended December 31, 2018 and other filings. These forward-looking statements speak only as of the date hereof, and Arcadia Biosciences, Inc. disclaims any obligation to update these forward-looking statements.

Twitter: @ArcadiaAg on Twitter
LinkedIn: Arcadia Biosciences

Press Contacts:

Trailblaze PR
Lisa Weser
lisa@trailblazepr.com


StaffMarch 4, 2019
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7min9380

The company’s new cannabis-dedicated operating unit, Arcadia Specialty Genomics,
will commence research this April with a new 10-acre hemp cultivation facility.

 

DAVIS, Calif. (March 4, 2019)  /AxisWire/– Building on last week’s launch of Arcadia Specialty Genomics™, a new cannabis-dedicated division of the agricultural food ingredient company, Arcadia Biosciences, Inc. (NASDAQ: RKDA), today announced that it has been granted an Industrial Hemp Pilot Program (“HIHPP”) License by Hawaii’s Department of Agriculture. The license allows for the cultivation of industrial hemp in Hawaii for the purposes of agricultural and academic research.  Hemp and hemp products produced under the program may be commercially sold.

With this license, Hawaii becomes the first state where Arcadia Specialty Genomics will commence its research and cultivation of hemp, planting on ten acres of recently-leased land next month. Hawaii was one of 23 states to launch a government-sanctioned hemp pilot program following the 2014 Farm Bill, which partially legalized hemp under state-based research programs. While the 2018 Farm Bill legalized the agricultural cultivation of hemp nationwide, its regulation now falls under the USDA, which has not yet set national policies for the crop. The new Farm Bill also allows states to set more restrictive regulations, including banning hemp growing.

Last week’s unveiling of Arcadia Specialty Genomics’ mapped out a research focus on the development of novel cannabis varieties possessing productivity, pest resistance and crop quality traits for license to cultivators, and as products such as hemp-derived CBD oils for the nutraceutical and food industries. The announcement of this industrial hemp license and upcoming cultivation facility in Hawaii underscores Arcadia’s commitment to rapidly transition its expertise as a leading science-driven company and genetics innovator in food crops into federal and state legal cannabis markets.

“Industrial hemp, along with all strains of cannabis, are decades behind other agricultural crops in terms of improved plant genetics. With the explosive market growth projected in the industrial hemp and derivative markets, growers will need the very best hemp strains to meet demand, minimize waste, and ensure consistent quality. As the only company working in the cannabis industry with proven track record of improving plants and commercializing food ingredients from agricultural products using non-GM techniques, we’re ideally positioned to help hemp growers and end-users benefit from better hemp strains.” said Matt Plavan, CFO of Arcadia Biosciences and President of Arcadia Specialty Genomics. “Being licensed by the State of Hawaii to participate in this highly selective program gives us an important head start and we’re moving quickly to establish our Hawaii research program immediately as we pursue expansion through licenses in other states.

About Arcadia Specialty Genomics

Arcadia Specialty Genomics is a strategic business unit of Arcadia Biosciences, Inc. leveraging the market-leading capabilities of its parent company to deliver crop innovation into developing proprietary, industry-leading cannabis germplasm. Focused on productivity, pest resistance and favored quality traits, Arcadia Specialty Genomics’ innovations serve the state and federally-legal nutraceutical, food and industrial markets. For more information, visit http://arcadiaspecialtygenomics.com.

About Arcadia Biosciences, Inc.

Arcadia Biosciences, Inc. (Nasdaq: RKDA) develops and markets high-value food ingredients and nutritional oils that help meet consumer demand for a healthier diet. Arcadia’s GoodWheat™ branded ingredients deliver health benefits to consumers and enable consumer packaged goods companies to differentiate their brands in the marketplace. The company’s agricultural traits are being developed to enable farmers around the world to be more productive and minimize the environmental impact of agriculture. For more information, visit www.arcadiabio.com.

Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially, and reported results should not be considered as an indication of future performance. These risks and uncertainties include, but are not limited to: Arcadia Specialty Genomics’ expectations about the cannabis industry and potential demand for our products; the uncertainty of the laws and regulations relating to cannabis and products derived therefrom; the inherent uncertainty associated with the development of new projects; our ability to obtain proper licenses and successfully complete research programs related to cannabis; the acceptance of our products in the marketplace; the impact of competitive products and pricing;  risks related to costs, delays and uncertainties associated with potential future scientific research, product development, clinical trials and the regulatory approval process; our partners’ and affiliates’ ability to develop commercial products incorporating cannabis related traits, and complete the regulatory review process for such products; our compliance with laws and regulations that impact our business, and changes to such laws and regulations; our future capital requirements and ability to satisfy our capital needs; our ability to develop, enforce and defend our intellectual property rights; and the other risks set forth in our filings with the Securities and Exchange Commission from time to time, including the risks set forth in our Annual Report on Form 10-K for the year ended December 31, 2017 and other filings. These forward-looking statements speak only as of the date hereof, and Arcadia Biosciences, Inc. disclaims any obligation to update these forward-looking statements.

 

Press Contacts:
Arcadia Specialty Genomics
Lisa Weser

+1-314-625-4633
pr@arcadiabio.com

Arcadia Biosciences

Jeff Bergau

+1-312-217-0419

pr@arcadiabio.com

Twitter: @ArcadiaAg on Twitter
LinkedIn: Arcadia Biosciences


StaffFebruary 28, 2019
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10min8450

Arcadia Specialty Genomics to bring standardization and optimization to America’s
cannabis crop with a focus on improved plant quality, resiliency and yield.

 

DAVIS, Calif. – February 28, 2019 /AxisWire/ Arcadia Biosciences, Inc.(RKDA), an agricultural food ingredient company and proven leader in leveraging advanced, proprietary breeding techniques to improve the quality and nutritional content of wheat and soybeans, today announced the company will apply its expertise to a new crop: cannabis. With the establishment of Arcadia Specialty Genomics™, the company is dedicating a first-of-its-kind strategic business unit to the optimization and standardization of cannabis plant content, quality, climate resiliency and yield. Arcadia Specialty Genomics intends to conduct its business only in federal and state markets in which its activities are legal.

With a fifteen-year track record of agricultural innovation, Arcadia Biosciences has brought new and beneficial crop traits to market through its advanced, proprietary approach to plant breeding and gene editing. With products such as GoodWheat™ flour and SONOVA® GLA safflower, the company is an industry leader in the development of high-value food ingredients and nutritional oils that meet consumer demands and improve crop outcomes for farmers. Now, the company will apply its expertise to the burgeoning cannabis industry, with an initial focus on the hemp market. Chief Financial Officer Matt Plavan has been appointed president of Arcadia Specialty Genomics.

“Within the rapidly growing legal cannabis industry, we see enormous opportunity in –and demand for–

improved plant quality, productivity, consistency and resilience, said Raj Ketkar, president and CEO of Arcadia Biosciences. “With this new operating unit, Arcadia Specialty Genomics, we are uniquely qualified as a proven crop improvement company equipped to address the legacy challenges facing a plant that until recently was largely grown unlawfully.” Ketkar added, “I can think of no one better than Matt Plavan, an industry veteran with a track record of leading transformational market pivots, to lead our new strategic business unit.”

The recent passage of the U.S. Agriculture Improvement Act of 2018 – also known as the Farm Bill – confirmed the federal legalization of hemp, the term given to non-psychoactive cannabis containing less than 0.3% tetrahydrocannabinol (THC). It also included provisions for legalizing on a federal level hemp’s cultivation, transport and sale for the first time in more than 75 years. Hemp, previously considered a Schedule 1 drug and banned as an agricultural crop, lacks substantive plant biology research and suffers from suboptimal genetics, highly fragmented germplasm and rampant inconsistencies.

According to Plavan, hemp’s newly legal status creates significant market opportunities for a company known for its agronomic excellence. “As we’ve evolved from an agricultural trait provider to a functional ingredient seller, we’ve developed capabilities and partnerships which will drive innovation and growth in hemp-derived oils such as CBD and other functional plant properties. As with our wheat and soybean products, we will create hemp-based solutions that allow farmers to be more productive and enable consumer packaged goods companies to differentiate their brands in the marketplace.”

The Hemp Business Journal estimates that the hemp CBD market totaled $190 million in 2018 – an astounding rate of growth for a category that didn’t exist five years ago. By 2022, the Brightfield Group, a cannabis and CBD market research firm, projects sales to reach $22 billion.

Arcadia Specialty Genomics will develop novel cannabis varieties possessing productivity, pest

resistance and crop quality traits for license to cultivators, and for products serving the nutraceutical and food industries. These developments are made possible through a proprietary approach combining conventional breeding, Arcadia’s advanced screening and breeding technology known as TILLING and gene editing. Through this process, plant populations carrying desirable, high-value genetic characteristics are identified, isolated and bred to reproduce. Arcadia Biosciences is a recognized leader bringing deep experience and established capabilities in this kind of crop innovation and optimization, delivering proven results safflower, wheat and durum such as:

  • A 100 percent increase in the production of Omega-6 GLA for safflower.
  • Two to six times more fiber than standard wheat and durum with its proprietary GoodWheat™ flour.
  • A 65 percent reduction in allergenic gluten content in in its GoodWheat™ flour.
  • 30 percent more lysine, an essential amino acid, in GoodWheat™ as compared to standard wheat.

“Our ability to bring innovative traits to the market for some of the most complex plant genomes is unparalleled, and we’re excited to turn our attention and expertise to the critical needs facing the rapidly evolving cannabis industry,” said Plavan, “Our near-term focus will be acquiring federal and state licensure in key geographies to launch our research and pilot programs, for which we expect to begin operations in early 2019. In parallel, we are evaluating key partnerships to extend our capabilities vertically, maximize shareholder value and establish Arcadia Specialty Genomics as the leading science-driven company and genetics innovator for cannabis.”

About Arcadia Specialty Genomics

Arcadia Specialty Genomics is a strategic business unit of Arcadia Biosciences, Inc. leveraging the market-leading capabilities of its parent company to deliver crop innovation into developing proprietary, industry-leading cannabis germplasm. Focused on productivity, pest resistance and favored quality traits, Arcadia Specialty Genomics’ innovations serve the state and federally-legal nutraceutical, food and industrial markets. For more information, visit  http://arcadiaspecialtygenomics.com

About Arcadia Biosciences, Inc.

Arcadia Biosciences, Inc. (Nasdaq: RKDA) develops and markets high-value food ingredients and nutritional oils that help meet consumer demand for a healthier diet. Arcadia’s GoodWheat™ branded ingredients deliver health benefits to consumers and enable consumer packaged goods companies to differentiate their brands in the marketplace. The company’s agricultural traits are being developed to enable farmers around the world to be more productive and minimize the environmental impact of agriculture. For more information, visit www.arcadiabio.com.

 

Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially, and reported results should not be considered as an indication of future performance. These risks and uncertainties include, but are not limited to: Arcadia Specialty Genomics’ expectations about the cannabis industry and potential demand for our products; the uncertainty of the laws and regulations relating to cannabis and products derived therefrom; the inherent uncertainty associated with the development of new projects; our ability to obtain proper licenses and successfully complete research programs related to cannabis; the acceptance of our products in the market place; the impact of competitive products and pricing;  risks related to costs, delays and uncertainties associated with potential future scientific research, product development, clinical trials and the regulatory approval process; our partners’ and affiliates’ ability to develop commercial products incorporating cannabis related traits, and complete the regulatory review process for such products; our compliance with laws and regulations that impact our business, and changes to such laws and regulations; our future capital requirements and ability to satisfy our capital needs; our ability to develop, enforce and defend our intellectual property rights; and the other risks set forth in our filings with the Securities and Exchange Commission from time to time, including the risks set forth in our Annual Report on Form 10-K for the year ended December 31, 2017 and other filings. These forward-looking statements speak only as of the date hereof, and Arcadia Biosciences, Inc. disclaims any obligation to update these forward-looking statements.

Press Contacts:
Arcadia Specialty Genomics
Lisa Weser

+1-314-625-4633
pr@arcadiabio.com

Arcadia Biosciences

Jeff Bergau

+1-312-217-0419

pr@arcadiabio.com

Twitter: @ArcadiaAg

LinkedIn: Arcadia Biosciences

 


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