It’s time for your Daily Hit of cannabis financial news for June 12, 2018.
On The Site
Aurora Cannabis Inc. (ACBFF) has signed a binding term sheet to acquire all the shares of private company Anandia Laboratories Inc. in an all-stock transaction valued at C$115 million. Anandia Labs is led by cannabis expert Jonathan Page, Ph.D., the company’s CEO and Co-founder. Dr. Page was the first scientist to sequence the cannabis genome and provide deep insights into the biosynthesis of cannabinoids and the interplay between cannabinoids and terpenes.
In Other News
GrowGeneration Corp. (GRWG) announced that it has purchased all of the assets of Central Coast Garden and Farm Supply located in Salinas, CA. CCG generated approximately $1.7 Million in revenue in 2017 and will serve as a retail and warehouse location servicing the growing number of commercial cultivators in the Central Coast California market. Central Coast Garden and Farm Supply add the 5th store to the GrowGen portfolio of stores in California.
The Green Organic Dutchman
TGOD’s wholly-owned subsidiary, Medican Organic Inc., received its cultivation license from Health Canada for its breeding facility in Salaberry-de-Valleyfield, Quebec. The plan is to use the Valleyfield facility to engineer and grow proprietary, organic strains of cannabis and cannabis seeds. Valleyfield is turning into a true marijuana campus for TGOD. Once at capacity, the greenhouse will be able to produce 116,000 kilograms (255,736 pounds or 127 tons) of premium cannabis each year.
Aldershot Resources Ltd.
Aldershot Resources Ltd. (ALZ) announced that, as a result of excess institutional demand, the company has increased the size of its previously announced private placement of common shares and units from $20.0 million to $25.0 million. The net proceeds from the Private Placement will be used by the Company to establish and launch a retail cannabis business in Western Canada. The new management team expects to execute its strategy by capitalizing on its collective experience in the following areas: (i) controlled substance retail market; (ii) an understanding of consumer purchasing habits and provincial demographics from historical data; (iii) leveraging existing relationships with landlords, municipalities and regulators; (iv) expertise tailoring product brands and retail experience; and (v) operational know-how including store sizing, site development, inventory management, staffing, training and cost structure.
GemmaCert, the innovative company behind the cannabis composition and potency testing “lab-on-a-desk,” today announced the opening of a new funding round, seeking to raise an additional $5-6 million (US) to help the company advance the commercialization of its groundbreaking testing solution and visionary product roadmap. To date, the company has raised just over $3 million (US) including investors from a number of investors, including European-based NEO Ventures Inc., Beverly Hills-based Applied Biosciences Corp., and Tel Aviv-based Arba Finance Company Ltd.
GemmaCert delivers a unique hybrid testing solution that combines leading-edge near-infrared spectroscopy (NIRS) technology with visual image analysis, extensive data science, and machine learning. Food and Drug Administration (FDA)-endorsed NIRS is a scientific measurement technique that measures how the near-infrared region of the electromagnetic spectrum is emitted, absorbed, or scattered through a cannabis sample.