Phivida Archives - Green Market Report

Debra BorchardtJuly 30, 2018


It’s time for your Daily Hit of cannabis financial news for July 30, 2018.

On The Site

Scythian Biosciences

Last month Scythian Biosciences agreed to sell its interests and assets in Argentina, Columbia, and Jamaica to Aphria Inc. in a deal valued at $193 million. Now the company is taking that money to enter the Florida Medical Marijuana market in a deal valued at C$136 million.

Scythian signed a letter of intent (LOI) to purchase CannCure Investments Inc, which is an Ontario-based company that is itself in the process of acquiring an interest in the Florida-based 3 Boys Farms, along with The Healthcare Organization. In addition, the deal includes a Florida agricultural company that has a license to operate as a Medical Marijuana Treatment Center in the state. The deal is expected to close on or about October 15, 2018.

Insys Therapeutics

The FDA giveth and the FDA taketh away. On July 27, 2018, Insys Therapeutics (INSY) announced that the U.S. Food and Drug Administration declined to approve the company’s New Drug Application for Subsys, an opioid-based painkiller, on the grounds that it was potentially unsafe.

News of the denial on Friday sent Insys shares sliding by 9% to $6.62. For the last several years, Insys shares have been on the decline, due in large part to the company’s ongoing legal issues.


Canadian-based Organigram Holdings Inc. (OGRMF) stock rose over 2% to approximately $3.43 after the cannabis delivered solid results for its fiscal third quarter. The company reported sales of C$3.7 million for the fiscal third quarter versus last year’s C$1.9 million in the same time period.  The company also reported net income of C$2.8 million for a sequential increase of 162% compared to $1.1 million in the second quarter. This easily topped last year’s third-quarter loss of $C2.3 million.

In Other News

Phivida Holdings

Phivida Holdings Inc. (PHVAF) won the approval of its Form 211 by FINRA, and the approval to graduate on to the OCTQX Best Market as a foreign issuer, with full DTC eligibility now in process. The Company’s common shares are scheduled to commence trading on the OTCQX under the symbol “PHVAF” effective July 30th, 2018.

Village Farms International, Inc.

Village Farms International, Inc. (VFFIF) and Emerald Health Therapeutics, Inc. (EMHTF) announced that their 50/50 joint venture for large-scale, low-cost, high-quality cannabis production, Pure Sunfarms, has received its cannabis sales license from Health Canada. Pure Sunfarms is now permitted to immediately begin selling product from its expanding inventory of high-quality dried cannabis, including to Emerald Health Therapeutics, under their previously announced supply agreement, as well as to address significant demand from other licensed producers. This sales license also positions Pure Sunfarms to secure supply agreements with provincial government distributors for the imminent legal adult-use marketplace.

Debra BorchardtJanuary 11, 2018


Namaste Technologies Inc.  (NXTTF) announced that it has signed a Global Digital Reseller-Supply agreement with Phivida Holdings Inc. (PHVAF).

According to the company statement, Namaste has been approved as the preferred global online retailer and digital affiliate marketing partner for Phivida’s product line of premium hemp-derived Cannabidiol infused functional beverages and clinical health products. The agreement includes a global online territory, targeting the launch in Germany and Australia.

“Namaste is extremely excited to be partnering with Phivida and its world-class management team,” said Sean Dollinger, President, and CEO of Namaste. “We’re looking forward to entering the beverage space together with Phivida as we believe there is significant demand for these products in our market. Many of our successes to this point can be largely attributed to our keen ability in identifying industry leaders and then forming strategic alliances.  Our partnership with Phivida further demonstrates that ability, and we feel very optimistic to be collaborating with a management team whose pedigree speaks for itself.”

The agreement is a strategic initiative between both companies to promote high-quality CBD products through Namaste’s platform and to the company’s existing databases of users within the territories. With Phivida’s management team having a strong background from the beverage industry and branding, including former senior executives from Redbull, Proctor and Gamble and McKesson’s, Namaste will be able to offer Phivida’s premium CBD beverages and infusions to its patients and practitioners globally, with an initial launch in Australia and Germany.

“As Phivida continues to expand is CBD product offerings into a $1 Trillion global health and wellness market, it is critical that we secure the strongest distribution partners,” said John-David Belfontaine, President a, d CEO of Phivida. “Ecommerce and digital marketing is a core horizontal within our greater strategic business plan, and Namaste is an ideal partner to expand our online presence into emerging markets around the world. We look forward to launching our global digital marketing and distribution platform with Namaste’s support as a key strategic partner.”


Jack SmithDecember 19, 2017

North American consumers spent nearly $7 billion in 2016 buying marijuana-infused products, including $1.7 billion in products aimed for adult use, up nearly 40 percent from 2015. As the industry is set to significant growth over the next few years, Phivida Holdings wants to be a huge part of that.
Phivida announced it has completed its initial public offering (IPO) on the Canadian Securities Exchange, raising $5.75 million in an effort to grow its products, which include hemp oil infused beverages. The company says its beverages will include “a proprietary blend of nutraceuticals and infused with nanoencapsulated hemp oil extracts.”
It also plans to sell and market functional foods and supplement nutraceuticals under the Vida+ brand in an effort to capture a significant part of the hemp oil market.
The legal cannabis-infused products industry is expected to grow by more than three-fold over the next four years, topping $20 billion by 2021, according to data compiled by BDS Analytics.
As part of the offering, which was led by Canaccord Genuity, the company sold 14.375 million shares and one-half of one common share warrant at 40 cents a share. The company noted that the warrants are exercisable at a price of 75 cents per share for a period of 24 months after the offering. If the shares were to reach $1 and stay there for 20 consecutive days, the expiration would be accelerated by the company.
CEO John-David Belfontaine said the offering was the result of the hard work and effort of several different groups, including the board of directors, executive team, and operational team.
“This is a significant achievement for The Company, but just the beginning of our shared success, as we prepare to launch our premium suite of Phivida brand CBD products onto a global stage in 2018,” Belfontaine said in a statement, announcing the offering. “We look forward to providing more exciting updates and milestone achievements as we enter this rapid growth phase in the life of Phivida.”
Shares will trade on the CSE under the symbol “VIDA.”
Pronounced “fii-vee-daah,” Phivida aims to bring the combination of modern western science and plant medicine together, according to its website.
The company markets its products to a number of different consumers and with the money, it’s raised, hopes to grow its distribution across the globe.
Currently, Phivida uses its nanoencapsulation technology to convert lipid-based cannabinoids into “water-soluble delivery format enhancing bioavailability and timed released within the body.” As the self-described cannabidiol (CBD) premiere brand, it also offers products where CBD’s are infused with other beverages, foods, and supplements.
Consumers being targeted are those who have a wide range of health concerns, such as those dealing with chronic pain, all the way up to those who have terminal diseases.

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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


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