Here’s your Daily Hit of cannabis financial news for April 25, 2018:
On The Site:
Zynerba Pharmaceuticals Inc.
Zynerba Pharmaceuticals (ZYNE) announced 12-month results for its cannabidiol (CBD) gel to treat adults with epilepsy. The data is being presented today at the Emerging Science session of the 2018 Annual Meeting of the American Academy of Neurology (AAN) in Los Angeles, CA. The company is saying that the data show over the long term that seizures are reduced, yet the placebo effects in the study weren’t published.
Weed Inc (BUDZ) is a cannabis company based in Arizona and is operated by Martin, his daughter Nicole Breen and her husband Ryan Breen. The company says it is focused on the development and application of cannabis-derived compounds for the treatment of human disease. CEO Glenn Martin is now facing a new complaint by Travis Nelson, a former employee, and shareholder of Weed. He is being accused of insider trading an transporting cannabis across state lines.
In Other News:
Golden Leaf Holdings Ltd.
Golden Leaf Holdings Ltd. (GLDFF), a leading cannabis oil solutions company built around recognized brands appointed Karl R. “Rick” Miller, Jr. to the Company’s Board of Directors, effective April 17, filling a previously vacated board position. With his addition to the Board, he will join the Audit and Nomination and Compensation Committees.
Lifestyle apparel manufacturer Chiefton Supply Co., a General Cannabis (CANN) company is surging into Spring 2018 with a distribution deal to supply national action sports retailer Tilly’s with its first hemp apparel brand. Customers can find the first run of Chiefton products in Tilly’s stores located in major malls from coast to coast, including Minnesota’s Mall of America, Dallas Texas’ The Galleria, Washington’s Tacoma Mall and Massachusetts’ South Shore Plaza, with more designs on the way as the season heats up.
MM Acquisition CO., LLC
MM Acquisition (MMAC) announced the official completion of its state-of-the-art indoor cultivation facility in Downtown Los Angeles. The $15.5 million, 36,000 square foot grow operation was completed in early 2018 and has just launched its first proprietary strain, Triple 7. The facility is currently growing 40 different strains and is able to produce 600-700 pounds of high-quality flower per month.
MMAC was founded by broadcasting, digital media and luxury automotive dealership entrepreneur Scott Ginsburg who saw a huge opportunity in the California cannabis market with LA at the epicenter. Ginsburg has made a significant personal investment combined with additional capital from a blue-chip group of investors that has now created a company with a state-of-the-art LA-based cultivation facility combined with its own retail dispensaries that will serve the Los Angeles market.
Honu Xpress, Inc.
Honu Xpress, Inc. announcde that on 4/20 the Company executed a binding Licensing and Service Agreement for exclusive rights to the Mystabis inhaler technology. The rights activate after funding the transaction and meeting other customary terms. The Mystabis Inhaler is a revolutionary patent-pending inhaler that provides pressurized metered-doses of cannabis oil directly to the lung’s capillaries with little to no exhale.