It’s time for your Daily Hit of cannabis financial news for June 4, 2018.
On The Site
Organigram Holdings Inc.
Organigram Holdings Inc. (OGRMF) has taken a 40% stake in Canadian cannabinoid product company Eviana Health for C$10 million. In addition to that Organigram has signed a separate agreement with Eviana for five years to purchase up to 50% of the cannabidiol (“CBD”) production of Eviana. The deal is expected to close on or about July 13.
The potential investment will help Organigram in its aggressive growth strategy and makes sure that the company is well prepared to meet the international demand for CBD oil. Eviana uses natural hemp strains of cannabis sativa for cannabinoid-based topical creams and products and cosmeceutical and nutraceutical merchandise.
Canopy Rivers said it is completing a reverse takeover with AIM2 Ventures and separately said it is raising $60 million ahead of an eventual public listing. As part of the deal, Canopy will take over AIM2 Ventures, which trades on the TSX Venture Exchange under the ticker symbol “AIMB.P.”
Canopy Rivers, which was formed just over a year ago on April 26, 2017, will use its investment and operating expertise to look for additional opportunities in the cannabis sector, the company said in a statement. Canopy Rivers is closely aligned with Canopy Growth, which trades on the NYSE under the ticker symbol CGC, is “managed by an experienced team of qualified financial and technical professionals with significant industry experience and relationship networks.”
In Other News
The Green Organic Dutchman Holdings Ltd
The Green Organic Dutchman Holdings (TGODF) has been requested by the Investment Industry Regulatory Organization of Canada (IIROC) to comment on the recent increase in the trading volume and price of the Company’s common shares on the TSX Exchange. The company said it is not aware of any material change in its business or affairs that has not been publicly disclosed and that would account for the recent increase in volume or price.
Helix TCS, Inc.
Helix TCS, Inc. (HLIX), in conjunction with its strategic capital partner, Rose Capital announced the closing of its previously reported merger with Bio-Tech Medical Software, Inc. dba BioTrackTHC. The merger closed on June 1st. Zachary L. Venegas will continue as the CEO of Helix TCS, Inc., and is to assume the role of Executive Chairman for the combined company. As previously announced, Patrick Vo will continue as CEO of BioTrack.
Isodiol International Inc.
Isodiol International Inc. (ISOLF) closed its acquisition of a 51% equity stake in Farmtiva Inc., a cultivator of hemp that also provides hemp farming and distribution support for farmers and other industry participants.
Farmtiva has a partnership agreement with the not-for-profit group, Imperial Valley Conservation Research Center and together they completed the first commercial planting of an approximately sixty (60) acre hemp crop as of June 1, 2018. Both California and Federal rules define the manner in which hemp may be grown. However, California has yet to establish a mechanism by which a farmer may grow industrial hemp pursuant to local registrations that have not yet been established. Therefore, Farmtiva and Isodiol, together with the IVCRC, believe they are the first group to legally cultivate hemp in the State of California for more than only fiber and oilseeds.
Marrone Bio Innovations, Inc.
Marrone Bio Innovations, Inc. (NASDAQ: MBII) a leading provider of bio-based pest management and plant health products for the agriculture, turf and ornamental and water treatment markets launched REGALIA CG, GRANDEVO CG and VENERATE CG, a portfolio of products designed to control highly destructive pests and diseases, including powdery mildew, mites, thrips and aphids, during Cannabis production and home gardening.
REGALIA CG, GRANDEVO CG, and VENERATE CG are multi-state-approved and extremely effective biological crop protection solutions for clean green cultivation, with the ability to generate increased yield and improved quality by reducing stresses from plant disease and insect and mite pests to the plant. When incorporated into an Integrated Pest Management (IPM) program, these products can serve as the fundamental difference for successful growers.
CannaRoyalty Corp. (CNNRF) announced thatTrichome Yield Corp., a majority-owned subsidiary of CannaRoyalty, changed its name to Trichome Financial Corp, effective June 1, 2018. The new name better reflects the Company’s strategic position as a flexible and responsive provider of capital solutions to the Canadian and international cannabis industry.