It’s time for your Daily Hit of cannabis financial news for July 18, 2018.
On The Site
Emblem Corp. (EMMBF) is making a $3 million strategic equity investment into Canadian cannabis company Natura Naturals Inc. In addition to the investment, the two companies have also signed a three-year cannabis supply agreement for Natura to provide Emblem up to 3,000kg of high-quality cannabis flower per year from its Phase 1 cultivation facility. The deal is expected to close later this week.
Initial cannabis product deliveries to Emblem are expected to start in October 2018 with a total of 750kg deliverable for the balance of 2018. According to the statement, the agreement increases Emblem’s total available cannabis by approximately 37.5% in 2018 and significantly accelerates Emblem’s product availability to coincide with the launch of the adult-use market in October 2018.
Leafwire, a Denver-based cannabis technology platform, announced today the beta launch of its online marketplace. The goal of its marketplace will be to connect investors and entrepreneurs in the cannabis space and to help enable a better exchange of information and opportunities within the industry.
The platform’s first offering will allow entrepreneurs to find investors that are interested in investing in the cannabis industry and vice versa. Both investors and entrepreneurs will be able to create profiles that detail their investment preferences, experience, and current needs.
In Other News
AmeriCann, Inc. (ACAN) has closed an all-equity financing offering with total proceeds of $3,819,000. The proceeds from the $3.00 per share equity financing will be used for construction at the Company’s Massachusetts Medical Cannabis Center development. AmeriCann is preparing to release the general contractor and project management team for the first phase of the MMCC development in the midst of the rapidly growing Massachusetts medical and adult-use cannabis market.
Nutritional High International Inc.
Nutritional High International Inc. (SPLIF) announced their entry into a Letter of Intent to acquire a 51% interest in Bright Green Lights LLC, a California company d/b/a as J:MEDS . J:MEDS produces high-quality cannabis-infused strain specific lozenges and sugar-free mints distributed across California. The company believes that its subsidiary Calyx Brands, Inc. can significantly ramp up sales of J:MEDS products. Having commenced operations in 2005, J:MEDS is a pioneer of “microdosed” infused products and is one of California’s longest operating and most respected edible companies.
Sugarmade, Inc. (SGMD) reiterated its $30 million revenue guidance for next fiscal year after filing results for fiscal Q2 2018. Additionally, the company is announcing today the termination of its culinary business line in order to increase emphasis on its hyper-growth market opportunities. Sugarmade continues on a strong growth trajectory, which is expected to allow the Company to produce revenue of at least $30 million for the fiscal year ending 2019, representing annual growth of over 500 percent. The aggressive growth rate is being driven by rapid expansion within the cannabis marketplace, in particular, the cannabis cultivation sub-sector, where a majority of the Company’s products are focused.
Namaste Technologies Inc.
Namaste Technologies Inc. (NXTTF) signed an e-commerce and technology services agreement with BlissCo Cannabis Corp Inc. whereby Namaste will provide services including access to Namaste’s technology platforms, software integrations and e-commerce services including those powered by Namaste’s e-commerce artificial intelligence (AI) platform, Findify.io.