Veritas Archives - Green Market Report

StaffApril 16, 2018
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This is your Daily Hit of cannabis news for April 16, 2018:

On The Site

Medicine Man Technologies 

Medicine Man Technologies (MDCL) announced today the preliminary financial resultsfor the quarter ending on March 31, 2018, and provided an update to shareholders on recent client activity. The company reported approximately $1.2 million in revenue for the quarter, a 122% increase over the same quarter last year and representing the fifth consecutive quarter of revenue growth. Expecting to reach the profit/loss breakeven point this quarter, the company has repaid all of its outstanding debt.

Aphria Inc.

Ontario-based Aphria Inc. (APHQF) reported that its revenues for the third quarter ending February 28 were C$10.2 million versus last year’ C$5.1 million for the same time period, an increase of 100%. Revenue increased 20% sequentially from C$8.5 million. Gross profits for the quarter were C$8.5 million over last year’s C$3.5 million. The net income for the quarter was C$12.9 million, a nice increase over last year’s C$4.9 million. The increase in net income relates to the strength of Aphria’s investment portfolio, including its realized gain on sale of its non-escrowed shares in Liberty Health Sciences, Ltd. in the quarter. 

 

MedReps

According to a March survey done by MedReps, 46% of pharmaceutical sales representatives reported that they expect medical marijuana legalization and stricter opioid laws to have a positive impact on their jobs.

MedReps, an online healthcare sales job site, conducted a survey of 500 sales professionals in medical and pharmaceutical sales, as well as non-medical and non-pharmaceutical sales.

 

In Other News

Veritas Pharma Inc. 

Veritas Pharma Inc.  (VRTHF) announced it entered into an agreement to acquire 50% of 3 Carbon Extractions Inc. The remaining 50% equity interest can be acquired by Veritas based upon a value to be decided by a qualified independent business valuator. The purchase price for which shall be paid in cash or in fully paid and non-assessable common shares of Veritas, or in a combination thereof, as may be determined by the Company in its discretion. The shareholders of 3 Carbon will receive aggregate consideration of $300,000 US and 1,500,000 common shares in the capital of the company.

Emblem Corp.

Emblem Corp. (EMMBF) appointed Maria Guest as Chief Marketing Officer to its executive team. The company also named Kim Horrill as Vice President of Medical Marketing and Tim Andrews as Vice President, Creative Director. The foregoing appointments remain subject to the approval of the TSX Venture Exchange. Prior to joining Emblem, Maria Guest spent 20 years building brands and developing new products and innovations within the highly regulated and competitive alcohol industry. Ms. Guest most recently led marketing efforts behind iconic brands like Corona, Stella Artois, Bud Light, Michelob Ultra, and Alexander Keith’s.

Aurora Cannabis Inc.

Aurora Cannabis  (ACBFF), CanniMed Therapeutics Inc. and CTT Pharmaceutical Holdings, Inc., announced that the three companies have entered into an agreement that provides Aurora, through its ownership of CanniMed, with joint exclusivity on the distribution in Canada of CTT’s novel, patented drug delivery technologies. This collaboration includes the licensing by CTT to CanniMed and Aurora of six patents related to cannabinoid delivery for pain management that will enable CanniMed and Aurora to exclusively develop and commercialize this unique, sub-lingual (beneath the tongue) wafer, drug delivery system in Canada.

Maricann Group Inc.

Maricann Group Inc. (MRRCF)  announced that it received an export permit from Health Canada for a shipment of dried cannabis flower to Germany. This is the first export permit that Maricann has received.


William SumnerMarch 29, 2018
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Here are today’s cannabis news briefs for March 29, 2018:

Emblem Corp.

Emblem Corp. (EMC) announced that it has entered into an agreement with Shoppers Drug Mart to become its medical cannabis provider, pending Health Canada’s approval of Shoppers Drug Mart’s application to become a licensed producer. Under the agreement Emblem will provide Shoppers Drug Mart with branded medical cannabis products, which is to be sold online due to government restrictions on retail pharmacies selling medical cannabis.“From the very beginning we’ve been very focused on being a leader in the medical cannabis space, not only from the production side, but also when it comes to physician and patient education,” commented Nick Dean, CEO of Emblem Corp. “Today’s deal with Shoppers Drug Mart helps to solidify that and positions us well to be a world leader of cannabis for medical purposes.”

Organigram Holdings

Organigram Holdings (OGI) announced today that it has accepted the resignation of Denis Arsenault as Chairman of the Board. Arsenault will continue to providethe company guidance on an ad hoc basis. Filling the vacant position will be Peter Amirault, who currently serves as lead director. “During his tenure with Organigram, Peter has demonstrated strong leadership skills and excellent business acumen” Arsenault said.”I am certain that he will continue to steward the Company going forward with a view to organizational excellence”.

Veritas Pharma Inc.

Veritas Pharma Inc. (VRT) announced today the closing of a private placement of units, valued at $1.5 million. According to the terms of the offering, the company will issue three million units of the company. One unit of the company is defined as one common share and one share purchase warrant for $0.50 per share. Additionally, each share purchase warrant will allow the holder to purchase an extra share for $0.70 per share, for the next three years, following the closing date.“The closing of the private moves the Company forward as we will fully be financed to execute on our plans on the continuation of human trials and to keep an eye on the market for additional acquisition opportunities,” stated Veritas CEO, Dr. Lui Franciosi. “We will also be in a position for next steps with Health Canada on the Company’s ACMPR licensing process.”


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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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