This is your Daily Hit of cannabis news for May 22, 2018:
On The Site
AxisWire Unveils Signature Cannabis Entrepreneur Tech Platform and STAR Source Locator
The cannabis industry took a big leap towards the mainstream earlier this month with the official launch of the world’s first cannabis focused communications firm, AxisWire. Founded by a seasoned team of cannabis professionals, AxisWire was created in response to the severe lack of access to basic business services that many entrepreneurs take for granted.
In Other News
Aurora Cannabis Inc.
Aurora Cannabis Inc. (ACBFF) announced that it is acquiring an initial 9.14% ownership interest in CTT Pharmaceutical Holdings Inc. (CTT). The acquisition is being executed through a non-brokered private placement of a $1 million USD 5% convertible debenture and includes the dissemination of warrants that allow Aurora to increases its ownership of CTT to 42.5%. “The investment in CTT reflects our commitment to science-based diversification into higher-margin drug delivery technologies for both the medical and adult consumer use markets,” commented Aurora CEO, Terry Booth. “The clinically-proven rapid onset of action of CTT’s wafers is a key differentiator that, we believe, will resonate strongly with physicians, patients and adult use consumers. This provides us with an important competitive advantage in the rapidly growing market segment for smoke-free form factors.”
Cronos Group Inc.
Cronos Group Inc. (CRON) announced today that the company would uplist its stock from the TSX Venture Exchange (TSX-V) to the Toronto Stock Exchange (TSX). The news comes on the heels of a tremendously positive financial results report, in which the company’s first-quarter total sales rocketed 473% to $2.9 million versus last year’s $0.5 million. The company expects to begin trading on the TSX on May 23, 2018 under the symbol CRON. “The up listing to TSX is a reflection of the growth and progress we have made globally and within the Canadian market,” said Cronos CEO Mike Gorenstein, in a statement. “We believe this is a continuation of our mission in creating long term shareholder value, liquidity, and a diverse shareholder base.”
The Green Organic Dutchman Holdings Ltd.
The Green Organic Dutchman Holdings Ltd. announced that it has entered into a licensing agreement with the Colorado-based CBx Enterprises LLC for Evolab and CBx Sciences brands and proprietary technologies and formulations within Canada. Evolab is a cannabis vaporization brand with proprietary technology which allows for the formulation of pharmaceutical-grade cannabinoid oils and strain-specific terpenes without solvents. CBx Sciences is a cannabis research company with a focus on creating effective products, formulations and technology platforms for sports medicine, health, beauty, and nutraceutical markets. “This licensing partnership for industry-leading technologies and formulations will further allow TGOD to execute on its plans of offering novel and safer delivery methods of both non-psychoactive and psychoactive cannabinoids to patients and consumers around the globe,” said Rob Anderson, Co-Chairman, and CEO of TGOD.