This is your Daily Hit of cannabis news for April 26, 2018:
On The Site
Canadian-based CannaRoyalty Corp. (CNNRF) announced that one of its investee companies, Alternative Medical Enterprises, LLC often called AltMed closed a private placement financing of $35.4 million. In a company statement, CannaRoyalty said it made a $1.5 million equity investment in AltMed in 2015 and that the post-money valuation of this current financing represents a growth in value of approximately 215% for CannaRoyalty shareholders.
In Other News
Solis Tek Inc.
Solis Tek Inc. (SLTK), a Nevada-based cannabis manufacturer and distributor, announced that it has executed a letter of intent to acquire an unnamed Arizona company which will provide turn-key services for the management, administration and operation of a licensed medical marijuana cultivation and processing facility in Arizona. In preparation for the agreement, Solis Tek has entered into a long-term lease agreement in Arizona for the use of a 70,000 square foot facility, which will be developed into an advanced cannabis cultivation and processing facility.
Isodiol International Inc.
Isodiol International Inc., a company dedicated to the development and commericialization of CBD-based pharmaceuticals and wellness products, announced that its wholly owned subsidary, BSPG Laboratories LTD., has received approval from the United Kingdom’s Medicines and Healthcare Products Regulatory Agency (MHRA) for the manufacturing of CBD under certificate number:UK API 48727. This approval will allow Isodiol to export CBD to almost any country in the world. “This is a huge achievement by BSPG laboratories and reflects the significant work and efforts made by the staff and management. The API registration also clearly demonstrates the commitment of BSPG Laboratories and Isodiol to manufacture the highest quality CBD currently available worldwide,” commented Dean Billington, QP Consultant of BSPG Laboratories LTD.
Kush Bottles Inc.
Kush Bottles Inc., a provider of packaging solutions and other cannabis accessories, announced that is has appointed Rodrigo de Oliveira as Vice President of Operations and Jason Vegotsky as Vice President of Sales. Additionally, the company announced that it has promoted Edd Pratt to Executive Vice President, where he will be responsible for overseeing domestic and international distribution efforts. “Building out a world-class sales organization is a top priority for us at Kush…This is a big step forward for our organization, and we’ll see this structure take hold immediately as well as folding into our the long-term growth plans,” stated Kush Bottles CEO Nick Kovacevich.