Marapharm Archives

Debra BorchardtOctober 24, 2018

Cannabis companies are continuing to adapt to this rapidly changing landscape for the industry. The latest updates come from MedMen Enterprises (OTCQX: MMNFF) and Marapharm Ventures (MRPHF).

MedMen

MedMen Enterprises Inc. uplisted to trade on the OTCQX Best Market using its existing ticker symbol MMNFF effective today. “MedMen’s step up to the OTCQX will expand our U.S. investor base and provide strong capital markets support to drive our continued growth,” said Adam Bierman, MedMen chief executive, and co-founder. “The OTCQX market offers enhanced visibility and transparency, more efficient trading and increased liquidity for our investors. This is also reflective of the enormous progress we have made as an industry. U.S. cannabis companies are here to stay and we are creating jobs and wealth for generations to come.”

MedMen recently made a big splash with the decision to acquire PharmaCann in a deal valued at over $600 million. That deal will increase MedMen’s number of retail licenses to 67 and doubles the number of states where it has operations to 12.

“Trading on the premium OTCQX Market will enable MedMen Enterprises to more efficiently provide their investors with current information and transparency,” said Jason Paltrowitz, Executive Vice President of Corporate Services at OTC Markets Group. “We are pleased to welcome MedMen Enterprises and look forward to supporting the company as it builds long-term shareholder value.”

Marapharm Ventures

Marapharm Ventures Inc. (OTCQX: MRPHF) changed its name to “Liht Cannabis Corp.” The company’s common shares are expected to begin trading on the Canadian Securities Exchange under the new symbol “LIHT” on or about October 25^th, 2018. Marapharm will keep its U.S. and European shareholders advised by the news release of changes to their market’s ticker symbol.

The new International Securities Identification Number (ISIN) for the outstanding common shares is CA5323511033 and the Committee on Uniform Security Identification Procedures (CUSIP) 53251103. For the tradeable common share purchase warrants, the CUSIP’s are 532351137, 532351111, 532351129 and ISIN’s are CA5323511371, CA5323511116 and CA5323511298.

Debra BorchardtJune 25, 2018

It’s time for your Daily Hit of financial cannabis news for June 25, 2018.

On The Site

GW Pharmaceuticals

If any other company released any news today, then it went basically unnoticed because the FDA approved GW Pharmaceutical’s (GWPH) cannabidiol drug Epidiolex. The news was expected sometime this week, so it was nice of the FDA to just get it out of the way on Monday. According to the press release, this is the first FDA-approved drug that contains a purified drug substance derived from marijuana and it is also the first FDA approval of a drug for the treatment of patients with the Dravet syndrome.

Even though the FDA has now approved the use of Epidiolex as a real treatment for these diseases, it doesn’t immediately change the status of cannabis as a controlled substance. The FDA did not say in its release whether it had delivered a recommendation to the DEA regarding Epidiolex and its schedule status.

However, in GW Pharmaceutical’s statement, the company said it would have to be rescheduled before it could be made available to patients. “Rescheduling is expected to occur within 90 days. Access is expected to be similar to other branded AEDs and EPIDIOLEX is expected to be available to appropriate patients by Fall 2018.

Marapharm Ventures

Marapharm Ventures Inc. (MRPHF) announced that it has entered into a Letter of Intent dated June 21, 2018 to purchase all the shares of Full Spectrum Medicinal Inc. Marapharm will have until September 30, 2018, to conduct due diligence on Full Spectrum, with a view to negotiating the terms of a definitive agreement in order to complete the transaction. The company did not provide a valuation for the proposed transaction.

In Other News

Harvest One Cannabis Inc.

Harvest One Cannabis Inc. (TSXV: HVT) has signed a binding Share Sale Agreement with Australian-based MMJ PhytoTech Limited for the purchase of 100% of Israeli-based PhytoTech Therapeutics Ltd. The transaction will be a combination of cash and shares. Upon completion, $1 million in cash and $7 million in Harvest One common shares issued at the then 10-day volume weighted average closing price, will be paid to MMJ.

Cronos Group Inc.

Cronos Group Inc. (CRON) announced that it entered into a strategic distribution partnership with privately owned pharmaceutical wholesaler Delfarma Sp. Zo.o. Founded in 2004, Delfarma was the first company in Poland to introduce international parallel import of medicinal products from European Economic Area countries. Delfarma distributes directly to over 5,000 pharmacies and more than 200 hospitals, a distribution network that reaches approximately 40% of the Polish domestic market.

Hiku Brands

Hiku Brands (HIKU.CN) announced that it has been granted permission for ten stores by the Province of Manitoba. Four of the stores will be located in Winnipeg and one in Brandon, all of which will be opened under our award-winning cannabis retail brand Tokyo Smoke, winner of Cannabis Brand of the Year at the 2017 Canadian Cannabis Awards.

Hiku is actively working with various regulators, provincial and municipal governments in the Province of Manitoba to obtain the necessary permits for our proposed Tokyo Smoke stores and will ensure location specific permission prior to announcing our chosen locations. This announcement is in addition to Hiku’s announcement on June 22, 2018 on the update for Alberta retail storefronts which detailed how Hiku has filed applications for more than a dozen storefronts in Calgary and are at the top of the list to be considered in each of those locations following Calgary’s first come, first serve approach to licensing. As previously announced, Hiku has also entered into a letter of intent with Oceanic Releaf Inc., a late-stage applicant under the ACMPR in Newfoundland & Labrador, pursuant to which Oceanic and Hiku are working with the government on the approval for Oceanic of up to 5 additional stores in that province.

StaffJune 25, 2018

Marapharm’s plan is to merge the privately-owned Full Spectrum Medicinal (FSM) Licensed Producer application with Health Canada. According to the company statement, the goal would be to become one of the best organic cannabis Licensed Producers specializing in premium flower on a commercial scale, saying that it would set a new standard for quality, cost of production and profit. The company went on to add, that unlike, Canada’s existing 84 Licenced Producers, Management’s “organic” focus and strategic model would be to build long-term value by increasing the portfolio and penetrating the legal cannabis space with flower, oils, and edibles in a fast-growing market.

The press release stated that “The business plan would be to rapidly expand with the development of standardized engineered bio-secure facilities. These are optimum-sized, state-of-the-art and scalable buildings. The efficient design reduces energy and subsequently the cost of cultivation. This allows for indoor grown quality cannabis at close to sun-grown crop costs. The first rapid assembly building is scheduled for delivery to the approved site, close to Salmon Arm, British Columbia.”

Marapharm is a publicly traded company investing in the medical and recreational cannabis space, since 2014. Marapharm has rapidly expanded to include having cultivation, production and dispensary locations in the key North American states of Washington, Nevada, and California and are seeking expansion opportunities worldwide. Marapharm stock was lately trading at 25 cents on the OTC Markets and 35 Canadian cents on the Canadian Stock Exchange.

On June 20, 2018, Prime Minister Justin Trudeau announced that October 17, 2018, will be the date that marijuana will be legal across Canada.

Debra BorchardtApril 6, 2018

It’s time for your Daily Hit of cannabis financial news for April 6, 2018:

On The Site:

The OTC Markets Group, which is home to most cannabis stocks, is taking the lead on identifying stock promotions for its investors. Stock promotion isn’t illegal. What is illegal is not being transparent about it. In its latest action, the OTC has set up a “Promotion flag” to warn market participants that the trading could be under suspicion. “For market forces to work, it’s got to be about providing more information so investors can make the right decisions,” said Cromwell Coulson Chief Executive Officer of the OTC Markets Group. “The companies have a responsibility to immediately address information regarding trading rumors. We’ve removed issuers because they weren’t truthful about sponsoring promotions.”

Cannabis blockchain is coming to the Empire State. On April 6, 2018, Alternate Health (AHG), a software solutions provider specializing in the medical cannabis industry, announced that it is expanding its StatePass medical cannabis Electronic Medical Records (EMR) blockchain system into New York and that physician onboarding and initial service testing has already begun.

In Other News:

Cronos Group Inc. (CRON) announced that it closed its previously announced bought deal public offering. A total of 10,420,000 common shares of Cronos Group were sold at a price of $9.60 per share for aggregate gross proceeds of approximately $100.0 million.

Delivra Corp. (TSXV: DVA) completed a non-brokered private placement through the issuance of 3,561,423 units of the company for gross proceeds of $1,246,498.20. Delivra Corp. is a specialty biotechnology company has developed a proprietary transdermal delivery system platform that can shuttle pharmaceutical and natural molecules through the skin, in a targeted manner.

Isodiol International Inc. (ISOLF) announced that it signed a Letter of Intent with Agrima Botanicals Corp, a Canadian Licensed Producer, to import 99.5%+ pure, bioactive pharma-grade cannabidiol isolate into Canada from Isodiol’s GMP-certified production facility in the United Kingdom. Agrima intends to import up to 5,000 g of CBD isolate per month for the purposes of R&D, product formulation and production of pharma-grade derivative products.

Namaste Technologies Inc. (NXTTF) announced March 2018 total unaudited net revenue was C$1,249,670, representing a 74% revenue when compared to March 2017. Namaste’s management team also reported that the company’s wholly-owned subsidiary, Namaste MD Inc. has acquired 535 new medical cannabis patients on the NamasteMD platform, representing a 142% month-over-month increase of patients.

Marapharm Ventures Inc. (MRPHF) said its dispensary in Desert Hot Springs, California continues to increase sales since its acquisition with weekly and monthly promotions. Furthermore, the implementation of a live inventory system has ensured accurate information is relayed in “real-time” to our existing patrons and the 3.5 million visitors to the popular Coachella Valley area.Two of our partner retailer promotions resulted in a 118% daily sales increase when compared to our daily average sales.

StaffMarch 7, 2018

This is your quick hit of news for March 7, 2018.

Marapharm Ventures Inc.

Marapharm Ventures (MRPHF) gave a progress report on its Washington facility. The copany said that the rehabilitation of the cultivation site will be completed by the end of March.

“During the renovation, we have worked closely with our architect and engineering partners to design one of the most advanced and environmentally friendly cannabis cultivation sites in North America. To operate in the Pacific Northwest climate the 28,000 sq. ft building has a new silicone membrane roof and the interior has been insulated with expanding, closed cell foam. Our flagship tenant AlphaPheno Inc., a tier 3 producer and processor will be able to cultivate 30,000 sq. ft of plant canopy, the maximum allowed by the license, in just 28,000 sq. ft of floor space with minimal water, power, and waste.”

“These engineered solutions will produce higher quality cannabis with the lowest cost of production compared to conventional indoor cultivators and shorten our return on investment timeline.” Kurt Keating, Director of Operations.

Future Farm Technologies Inc.

Future Farm Technologies (FFRMF) announced that its Puerto Rico subsidiary has signed the first of five planned leases for its Clinica Verde branded Puerto Rico dispensaries. Future Farm expects to sign two more leases in the next thirty days with the additional two leases to follow soon after. The Future Farm Clinica Verde branded dispensary is located in the Condado neighborhood of San Juan, one of the island’s most highly trafficked areas.

EVIO, Inc.

EVIO (EVIO), reported that it had recently invested $800,000 in new equipment upgrades at its EVIO Labs Massachusetts facility and its EVIO Labs Colorado licensee. According to senior management, these equipment upgrades will significantly increase testing volumes to meet increased demand and testing requirements, leading to improved operating efficiencies and revenue growth.

EVIO currently operates 9 cannabis testing laboratories in five states, a coast-to-coast footprint that continues to keep pace with the cannabis testing market, one of the most attractive and investment-friendly segments of the overall legal marijuana industry- a space that has exploded onto the investment scene over the last few years, and continues on a rapid growth trajectory.

Hiku Brands Company Ltd.

Hiku Brands Company (CSE:HIKU) gave an update on the its recent corporate development initiatives. Hiku’s wholly-owned subsidiary DOJA Cannabis Ltd. submitted its application to Health Canada for the production of medical cannabis oils at its second site facility located in Kelowna, British Columbia. Hiku also announced it signed a strategic partnership agreement with Vitalis Extraction Technology Inc. where Vitalis will advise on the build-out of DOJA’s extraction lab, partner on certain research and development initiatives, and supply the FUTURE LAB with Vitalis’ Q-90 supercritical CO2 extraction system – which is capable of processing up to 80 kg of cannabis flower per day into ultra-pure, exceptionally-clean, high-quality cannabis oils without the use of any toxic solvents.

Sugarmade Inc.

Hydroponic company Sugarmade (SGMD) announced the completion of internal financial system enhancements in order to begin recognizing revenues from its master marketing agreement with BizRight Hydroponics, Inc. Additionally, Sugarmade announced the completion of its year-end audit in preparation for its year-end, and other, financial filings and its intent to soon offer formal revenue growth guidance for year-end 2018 and 2019.

For the past few months, the staff at Sugarmade has been implementing a plan to significantly increase corporate accounting and financial resources to manage the over 400% revenue growth planned for the next few years. With these functions largely completed, the company’s staff is now beginning testing on live orders and revenue flows from BizRight products, in order to begin recognizing these new revenue streams.

The Daily Hit: September 27, 2023

Discrepancy Between Cannabis Sales, Testing Rates Raises Eyebrows in Montana

In other news

Tilt Holdings Names Conder Permanent CEO

2023 Notable Leaders in Cannabis: Luna Stower

SAFER Banking Act Approved by Senate Committee

Marapharm Archives - Green Market Report

Stock Market Moves From MedMen, Marapharm