It’s time for your Daily Hit of cannabis financial news on January 15, 2019.
On The Site
ABG houses more than 50 brands including well-known names like Airwalk and Frye shoes, Juicy Couture, Nautica, Nine West, Vince Camuto, and Spyder sportswear. It has a global retail footprint of over 100,000 points of sale and more than 4,500 branded freestanding stores and shop-in-shops. The company noted that ABG generates approximately $9 billion in retail sales annually.
In Other News
CANNAMERICA BRANDS CORP. (CSE: CANA) (OTCQB: CNNXF) has granted an aggregate of 2,450,000 incentive stock options to purchase common shares to certain officers, directors, and other eligible persons of the Company. The options are exercisable, subject to vesting provisions, over a period of five years at a price of $0.60 per share, the closing price of the Company’s first tranche of its brokered private placement announced on January 10, 2019.
WeedMD Inc. (TSX-V:WMD) (OTCQX:WDDMF) and BLOCKSTRAIN TECHNOLOGY CORP. (TSXV: DNAX.V) (OTC: DNAXF) has completed the ‘first-of-its-kind’ cannabis strain validation registration program – a testing and verification process that will confirm cannabis strains as purchased. BLOCKStrain, which developed a Master Genome Strain Registration and Clone Strain Registration program is focused on providing transparency and actionable quality assurance to cannabis consumers. Licensed producers completing the registration can in turn provide assurance to their own customers that the cannabis strains they purchase are the ones they receive.
Charlotte’s Web Holdings, Inc. (CSE: CWEB; OTCQX: CWBHF) reported its 2018 harvested hemp results. The company reported more than a 10 times growth in harvested hemp compared to its 2017 grow season. The high-quality 100% U.S.-grown hemp will be processed through proprietary extraction methods to create whole plant hemp extract that will be used in Charlotte’s Web products for sale in 2019 and 2020.
Grown Rogue International Inc. (CSE: GRIN | OTC: NVSIF) announced the signing of a Memorandum of Understanding to expand its brand and products into Michigan through a strategic partnership with established local cannabis operators and investors. The expansion is anticipated to initially include two retail dispensaries, referred to as provisional centers in Michigan, a 19,000 sq ft indoor cultivation and processing center in Detroit, and an interest in a 28 acre parcel located in the northern portion of the lower peninsula which can be used for cultivation. Grown Rogue will make a further announcement relating to the definitive terms of the partnership which are currently being negotiated between the parties.
Flower One Holdings Inc. (CSE: FONE) (OTCQB: FLOOF) announced its first brand partnership for cannabis product fulfillment in Nevada. Flower One and Rapid Dose Therapeutics Inc. (CSE: DOSE) entered into a definitive agreement on January 10, 2019, pursuant to which Flower One has been granted a license to manufacture, distribute and sell RDT’s QuickStrip™, an innovative, proprietary delivery technology for the cannabis market in Nevada.
Medicine Man Technologies (MDCL), a leading consulting, IP licensing and products company in the cannabis industry, has signed binding term sheets and conditions for acquisition of MedPharm Holdings, LLC, intellectual property development and holding company focused on cannabis research and product/brand development.
Nouveau Life Pharmaceuticals, Inc. (USOTC: NOUV) (“NOUV”) and Puration, Inc. (USOTC: PURA) announced that Brian Shibley, the current CEO PURA has been appointed as the interim CEO of NOUV. On October 4, 2018, PURA sold its cannabis cultivation business to NOUV in exchange for a $1.2 million convertible note with a commitment that the note would promptly be converted into shares of NOUV and that those converted shares would be distributed in a stock dividend to the shareholders of PURA. The process of updating NOUV’s public filings in order to proceed with the dividend has taken longer than originally anticipated. Brian Shibley’s appointment as CEO is anticipated to reaccelerate the update of NOUV public filings and in so doing, speed up the anticipated dividend of NOUV shares to PURA shareholders.
Leafly, the world’s leading cannabis information resource, and Flowhub, the award-winning cannabis compliance and point of sale provider, are today announcing their new, real-time integration to help cannabis dispensaries drive visibility and automate online menus. With the new Leafly and Flowhub integration, dispensaries can now automatically update their online menus on Leafly to match their live inventory in Flowhub’s industry-leading POS system. The Flowhub solution allows retailers and managers to save time on manual data entry, while providing accurate information and a seamless shopping experience for their potential customers on Leafly.