This is your Daily Hit of cannabis news for April 18, 2018:
On The Site
Green Bits, headquartered in San Jose, announced it has raised a $17 million Series A funding round, led by Tiger Global, the New York-based investment firm, along with participation by Snoop Dogg’s Casa Verde Capital….With the $17 million in new funding, Green Bits, which has similarities to the Jack Dorsey-led financial service provider Square, has raised $19.3 million in total outside funding. A source close to the matter said the new funding round demonstrates Green Bits “continued adoption and growth within the rapidly expanding legal cannabis industry.”
Of the nearly 5,000 people surveyed by legal cannabis delivery service company Eaze, more than half report they’ll be openly celebrating 4/20 this year. Eaze asked their customers questions about their consumption openness when discussing their use and thoughts on celebrating their first legal 4/20 holiday in California. Seventy-three percent surveyed reported the reason they’re celebrating 4/20 for the first time is that cannabis is now legal.
In Other News
Canopy Growth Corporation
Canopy Growth Corporation (WEED) announced today that it has entered into an agreement with Yukon Liquor Corporation (YLC) to supply the company with high quality cannabis products. Under the agreement, Canopy will supply YLC with up to 900 kilograms of cannabis over a course of three years. “We’re proud to be collaborating with the Government of Yukon to ensure a consistent and safe supply of our high-quality cannabis products once the adult retail market opens,” commented Mark Zekulin, President, Canopy Growth. Pending government approval, this will mark Canopy’s fifth Canadian provincial cannabis supply agreement.
Marapharm Ventures, Inc.
Marapharm Ventures (MDM) announced that it has entered into an agreement to acquire operational assets, and potentially land and water rights, from two cannabis producers in Okanogan County, Washington. The agreement included assets such as security cameras, fencing, irrigation systems, the right of first refusal to acquire 20 acres of agricultural land (the Property), and property leases; which includes two water wells and the right to draw water pending a water rights certificate. Additionally, AlphaPheno has negoitated to purchase a tier 2 and tier 3 cannabis production license, to be located at the property, for a price of 4,000,000 shares of Marapharm Common Stock, equivalent to $2,760,000 CAD.
AXIM Biotechnologies, Inc. (AXIM)
AXIM Biotechnologies announced that the European Patent Agency has published a patent application for the company’s invention, which is titled “Anti-Microbial Composition Comprising Cannabinoids,” EU Patent Publication Number 16815133.0.“We have seen preliminary research on known cannabinoids proving efficacy in their anti-microbial properties. AXIM hopes to further solidify this research and bring to market a cannabinoid-based solution to many indications where treatment is falling short,” stated Axim CEO George E. Anastassov. The patent application relates to the formulation of cannabinoid-related products and include various delivery methods such as spray, cream, and powder form. The anti-bacterial and anti-fungal compositions are comprised of various cannabinoids.