It’s time for your Daily Hit of cannabis financial news for January 16th, 2020.
On the Site
Halo Buying Outer Galactic Chocolates, Makes Progress in Africa
Halo Labs Inc. (NEO: HALO)(OTCQX: AGEEF) has exercised its Mendo Distribution and Transportation’s (MDT) option to purchase Outer Galactic Chocolates, which is a holder of a Type N manufacturing license. MDT was recently acquired by Halo through a merger on January 9, 2020. The acquisition will give Halo a license to produce infused and edible cannabis products adjacent to the MDT facility in Ukiah, California.
The company also said that Bophelo Bioscience & Wellness has started the certification process required to achieve European Good Agricultural and Collection Practices accreditation for cannabis grown at the Company’s 205-hectare cultivation site at Bophelo in Lesotho, Africa.
High Times To Open Dispensaries
Longtime cannabis print publisher High Times is getting into the dispensary business. The company said that it has signed a binding letter of intent to launch branded retail stores in Las Vegas and Los Angeles. The company did not specify who it had signed the agreements with or the value attached to the agreements. The locations were only described as being in high traffic areas.
The dispensaries are intended to become flagship High Times stores and in addition to selling cannabis products, will also carry High Times branded products. The stores will also feature award winners from the company’s Cannabis Cup events. There are plans to expand beyond the first two locations.
Wikileaf Names New CEO
Wikileaf Technologies Inc. (CNSX: WIKI) founder Dan Nelson will step down as the Chief Executive Officer and become the company’s, Chief Growth Officer. Derek Firth, an early invest and advisor of the company, has been appointed as the CEO of the Company. Wikileaf is a price comparison platform for recreational and medicinal cannabis consumers.
Caliva Opens “DELI” Retail Location and Delivery Service Throughout Los Angeles
Caliva has officially announced the opening of its new cannabis retail concept store, DELI, in Bellflower, CA, officially marking the brand’s expansion into the Los Angeles area. The store resembles a traditional deli, with a friendly vibe designed to evoke the nostalgia of great customer service in a trusted neighborhood environment. Upon arrival, customers take a number and are seated at the deli counter, where budtenders talk through their freshest product assortment. “The DELI store concept is all about catering to the well-versed cannabis consumer who knows what they like. Customers learn about daily deals and fresh new items that are added regularly to the assortment,” said Elizabeth Cooksey, SVP of retail at Caliva.
In Other News
Aleafia Health Announces Launch of Cannabis-Infused Sublingual Strips
The award-winning cannabis-infused sublingual strips by Kin Slips are currently produced and sold under license exclusively in California. However, a Canadian company, Aleafia Health, has recently reached a definitive licensing agreement with Kinstate, Inc. to bring the brand to the cannabis market in Canada. The Company expects to provide products to consumers in Canada during Q2 2020.
Cannabis Legalization Bill Filed After Governor Puts The Issue on 2020 Agenda
The bill introduced by Sen. Jerry Ortiz y Pino (D) and Rep. Javier Martinez (D) would allow adults in the state to purchase and possess cannabis from licensed retailers. “Having worked towards cannabis legalization in New Mexico for the better part of the last decade, we are excited by the possibility for New Mexico to become the 12th state in the country to legalize and regulate cannabis,” Emily Kaltenbach, New Mexico state director for the Drug Policy Alliance (DPA), said in a press release. “Senator Ortiz y Pino and Representative Martinez’s legislation puts local communities and New Mexican families first.”