The Daily Hit: Today's Cannabis Briefs

Here are the news briefs for March 22, 2018:

Namaste Technologies Inc.

Namaste Technologies Inc. announced today that it has signed a non-binding Terms Sheet with PharmaCann Pty Ltd. Under the term sheet, Namaste will participate in an investment to purchase 10% equity position in PharmaCann, which currently holds licenses to import and export wholesale medical cannabis in Australia. The proceeds from Namaste’s investment will go towards securing a medical cannabis cultivation license through the Australian Government Department of Health. Additionally, Namaste will purchase 250 kilograms of cannabis per year for export to Canada, where it is to be sold through the company’s subsidiary Cannmart for the next three years, pending Health Canada approval.

CannaRoyalty Corp.

Canna Royalty Corp. (CRZ) announced that is has receive a receipt for a preliminary short form prospectus of the Company from securities regulators in regards to its previously announced $15 million bought deal offering. The offering is expected to close some time around April 4, 2018. The company also announced that it intends on implementing an early warrant exercise incentive program for outstanding common share purchase warrants issued on Feb. 15, 2017. Under the incentive program, each warrant exercised between 9:00 AM on the closing date of the previously announced offering and the 30th of the day following the closing date will entitle the holder to purchase one common share at a price of $5.50.

Kanabo Research

Kanabo Research, an Israeli medical cannabis research and development firm based in Tel-Aviv, announced that it had signed a partnership agreement with Jupiter Research, a Phoenix-based manufacturer of vaporizer products. Under the agreement, Kanabo will distribute Jupiter’s L9 vaporizer platform under the VapePod brand. The Israeli Ministry of Health has granted conditional approval for Kanabo’s VapePod vaporizer, making Israel the first country in the world to grant a medical device approval to a vaporizer intended to be used with medical cannabis.

William Sumner

William Sumner

William Sumner is a freelance writer specializing in the legal cannabis industry. You can follow William on Twitter @W_Sumner or on Medium.


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