Search Results for: Canadian Securities Exchange

POSaBIT Begins Trading On The Canadian Securities Exchange

CANADA: POSaBIT Systems Corporation, a leading financial technology company delivering unique blockchain-enabled payment processing and point-of-sale systems for cash-only businesses with a focus on the cannabis industry, today announced that following the completion of its reverse takeover transaction it has begun trading on the Canadian Securities Exchange (CSE) under the ticker “PBIT”.

“This is a significant achievement for POSaBIT and we are proud to make this important transition from the private to the public markets,” said Ryan Hamlin, co-founder and CEO of POSaBIT. “The past year has been an exciting one for the company, marked by a series of milestones. We continued to expand geographically in the California, Colorado and Washington markets, successfully completed the acquisition of DoubleBeam, and rolled-out a fully-integrated POS and payments platform that fulfills an unmet need in the cannabis industry. Our service is now in use at over 120 cannabis merchants across various US states. We are pleased with our traction in the market, as demonstrated by our strong year-to-date growth, and are very encouraged by the continued momentum we saw as we closed out 2018.”

2018 Corporate Milestones

  • For the nine months ended Sept. 30, 2018, the Company generated USD $1.39 million in revenue (with cost of sales of USD $1.4 million), a 266% increase over the prior year comparable period (and an increase in cost of sales of 226% over the prior year comparable period).
  • The Company expanded its footprint in California, Nevada, Oklahoma, Colorado and Washington.
  • In February 2018, POSaBIT completed the acquisition of DoubleBeam, which specializes in POS payment processing for the Hospitality sector.
  • The Company enhanced its payment service offering by developing incremental features to sell and accept both Litecoin and Bitcoin for purchases, as well as perform EMV card compliance on debit card transactions – helping merchants navigate complex payment requirements.
  • POSaBIT designed and released a new front-end POS console that is uniquely suited for cash-only merchants such as the Cannabis industry. This entirely new console offers an array of key features, including loyalty programs, in-store digital menus, online ordering / in-store pickup, inventory management, state seed-to-sale compliance, and customizable discounts.
  • POSaBIT also completed all of the necessary state requirements to support the Leaf system, a seed-sale track and trace software system used by regulators in the State of Washington.
  • The Company moved its corporate headquarters to a larger location in Kirkland, WA, which will support continued growth and expansion plans.
  • Pursuant to private placement financings undertaken in conjunction with the listing, POSaBIT generated gross proceeds of $1.3M.

“We believe our all-in-one payment and POS solution provides a unique and compelling offering that enables cash-only businesses, like those typical to the cannabis industry, to provide their consumers with an alternative to cash, while still satisfying retail customer experience expectations,” Hamlin added. “We believe the cannabis industry represents a large and growing opportunity for our offerings. With the successful completion of our listing on the CSE, we are pleased to have the additional capital needed to accelerate our growth in this rapidly expanding market. Our solution fills an unmet need, enables merchants to remain compliant in a highly regulated industry, and drives sales. We think this is a winning combination that will fuel our growth in 2019.”

POSaBIT was founded and incorporated in 2015 and is led by a team of executives with deep expertise across the technology space. POSaBIT Co-founder and CEO Ryan Hamlin brings over 27 years of software development, management experience, and entrepreneurship, including founding PlaceFull in 2011 and holding former leadership posts at Microsoft and MSN. Co-founder Jon Baugher heads up sales execution, revenue growth, and customer success utilizing his 28 years of global hardware and software technology sales experience. Full biographical information for the leadership is available here.

 

PotNetwork Holdings Prepares To List On Canadian Securities Exchange

FLORIDA: PotNetwork Holdings has announced today that it is preparing to list its common stock on the Canadian Securities Exchange operated by CNSX Markets Inc. The Company has engaged Canadian securities counsel to assist with the listing process. A CSE listing will allow the Company’s common stock to be dual listed in both U.S. and Canada.

PotNetwork HoldingThe application for a listing on the CSE will follow the Company’s transition to becoming a fully reporting Company with the SEC once its recent Form 10 filing becomes effective. The Company also intends to complete an uplisting to the OTCQB market tier on OTC Markets.

Kevin Hagen, CEO, stated, “Public attitudes around the world towards CBD are shifting as a result of people and regulators understanding the benefits of CBD. Cannabis-based products, in general, are experiencing explosive growth and we have begun an aggressive expansion of our business to further drive the growth of the Company into 2019. Integral to that expansion, is our decision that the time is right to list our stock on the Canadian market. The CSE already lists many companies in our industry, making this move an extremely logical choice that we believe will significantly benefit both the Company and its shareholders, across two countries instead of one.”

Weekend Unlimited Shares Begin Trading On The Canadian Securities Exchange

Trading Under the Symbol YOLO on the CSE on October 15, 2018

CANADA: Weekend Unlimited, a lifestyle cannabis company, announced that  its shares began trading Monday, October 15, 2018 on the Canadian Securities Exchange under the symbol YOLO.

The Company is the result of a two for one consolidation and the previously announced amalgamation of Open Source Health Inc. (formerly OHS) and Weekend Unlimited Inc., a private arms-length company which holds interests in various cannabis-related companies. The resulting company continues under the name Weekend Unlimited Inc. All of the assets previously held by Open Source in the online health space have been sold.

A detailed listing statement dated October 10, 2018 has been filed by the Company on www.sedar.com and on the CSE website.

Weekend Unlimited has built significant momentum in the lead up to going public, with an existing portfolio in Washington State, Orchard Heights Growers, British Columbia, Northern Lights Organics and internationally, Jerome Baker Designs, in the effort to build a strong, versatile foundation for substantial growth. Additional potential acquisitions have been identified and are subject to letters of intent in Jamaica (an existing cultivation and productions facility), California (a beverage company) and California (a multi-state THC and CBD infused candy company).

Weekend Unlimited’s Brand Acquisition Model

Weekend Unlimited aggregates and scales its small to medium brands, primarily in the categories of flower, extracts, and edibles. Weekend Unlimited brands have best of class operations, distribution, and strong revenue trajectories, making them ideal candidates for the deployment of capital and expertise through access to technologies, infrastructure and centralized systems. With assets secured in British Columbia, Washington State and internationally through Jerome Baker Designs, Weekend Unlimited is establishing itself as an integrated cannabis company.

Current Brands Include:

Weekend Unlimited BrandsJEROME BAKER DESIGNS

  • Since 1991, Jerome Baker Designs has been at the forefront of design and creativity in the glass and canna industries.
  • This 3 X High Times Cannabis Cup winner, with offices in Las Vegas, New York and Maui, Jerome Baker Designs creates custom glass artwork that its clientele is proud to display in their homes and offices.
  • Pending launch of CBD line of products in fall of 2018
  • Pending launch of an infused water bottle in trademarked Jerome Baker bong design in fall of 2018

NORTHERN LIGHTS ORGANICS

  • With the agricultural rich land and certified organic farming expertise, Northern Lights will become Canada’s first high CBD focused hemp & cannabis farm, grown from certified organic soils with final products certified organic
  • 300-Acres will be dedicated to outdoor organic hemp for CBD extraction
  • Indoor cannabis cultivation will be housed in 68,000 sq. ft. of purpose-built grow rooms with rolling table automation
  • The Northern Lights Organics Campus will include veg, clone and genetics rooms and an extraction facility for CBD Hemp oils and concentrates.

ORCHARD HEIGHTS GROWERS

  • Orchard Heights Growers in Washington State are focused on premium quality indoor cultivation and processing.
  • The company provides a combination of mixed light greenhouses with a processing room for extraction.
  • Orchard Heights Growers phase one development includes a state of the art, optimized efficiency Cannabis greenhouse with full climate controls.

Capital Structure

After the private placement detailed below, the Company currently has 248,982,255 issued and outstanding shares, and 189,775,724 shares reserved for issuance upon the exercise of warrants and options. 142,222,711 shares are subject to a hold period until February 16, 2019, and an additional 21,172,500 shares are subject to a 3-year escrow.

Private Placement

The Company has closed non-brokered private placement of $5,409,154 by the issuance of 27,045,770 units at $0.20. Each unit consists of one common share and one warrant entitling the holder to subscribe for one additional share for $0.25 for a period of 2 years, subject to the Company’s right to accelerate the expiry date upon 30 days’ notice if its shares trade at $0.50 or more for a period of 10 days. Proceeds will be used for working capital and for further acquisitions.

MedMen Begins Trading On The Canadian Securities Exchange

CALIFORNIA: MedMen Enterprises began trading today (5/29/18) on the Canadian Securities Exchange under the ticker symbol “MMEN.” 

With more than 800 employees and 18 licensed facilities in California, Nevada and New York, MedMen is one of the fastest growing companies in the quickly evolving U.S. cannabis industry. The three states where MedMen currently operates account for about half of the addressable cannabis market in the U.S. State-sanctioned cannabis sales in the country are estimated at about US$7 billion annually and expected to reach US$75 billion by 2030, according to the Cowen Group.

Leading Cultivator, Producer and Retailer of State-Sanctioned Cannabis Now Accessible to Public Equity Investors

Leading Cultivator, Producer and Retailer of State-Sanctioned Cannabis Now Accessible to Public Equity Investors

“MedMen’s vision is simple but revolutionary: cannabis as a consumer product,” said MedMen Co-founder and CEO Adam Bierman. “For the better part of a decade we have been singularly focused on that vision – creating the systems and infrastructure that raise the bar on product quality and safety and providing a retail shopping experience that is second to none. By going public, MedMen gives investors a ground-floor opportunity to participate in the enormous and untapped potential of the fastest growing industry in the United States.”

The listing follows the successful completion of a reverse takeover of a Canadian public company by U.S.-based MM Enterprises USA, LLC. In connection with this reverse takeover and the listing on the CSE, the Company raised approximately CA$143 million, or US$110 million, through a private placement at an implied enterprise valuation of CA$2.14 billion, or US$1.65 billion. Executives of MM Enterprises USA, LLC were appointed as officers of the public company and the public company was renamed MedMen Enterprises Inc.

“We are making marijuana mainstream by making it okay for soccer moms and middle-aged professionals to use cannabis products,” said MedMen Co-founder and President Andrew Modlin, the creative force behind MedMen and the first cannabis professional to win the prestigious American Marketing Association’s Emerging Leaders Award. “People are using it for ailments, for wellness or to just relax or socialize with friends. Medical marijuana is legal in 29 states, adult use is now legal in nine. Medical use is legal in Canada and adult use is expected to be legal by year’s end. We are marching steadily toward a future where buying and using cannabis products will be just as normal as buying wine or beer.”

Acreage Announces Listing On The Frankfurt Stock Exchange

NEW YORK: Acreage Holdings announced that its subordinate voting shares have been listed on the open market of the Frankfurt Stock Exchange under the symbol “0VZ.”

Acreage-HoldingsThe Company’s subordinate voting shares continue to be listed on the Canadian Securities Exchange under the symbol “ACRG.U” and on the OTC under the symbol “ACRGF.”

NEW JERSEY: TerrAscend Issued Permit To Dispense Medical Marijuana In Phillipsburg As “The Apothecarium”

The Facility, doing business as “The Apothecarium,” is Now the 13th Dispensary Statewide, First in Warren County

NEW JERSEY: The New Jersey Department of Health today issued a permit allowing TerrAscend to begin dispensing medical cannabis in Phillipsburg.  TerrAscend is operating their dispensary under the name, “The Apothecarium.”  This is the 13th facility dispensing marijuana for medical use in New Jersey and the first to operate in Warren County.

The Phillipsburg location is set to open tomorrow, November 24th. TerrAscend is currently cultivating and processing in Boonton Township.

“Expanding access to our growing patient population continues to be a high priority especially during these unprecedented times,” said Health Commissioner Judith Persichilli. “The opening of this site will provide residents in the Northwestern New Jersey better access to products they need to treat their conditions.”

TerrAscend Corp. | CSE - Canadian Securities Exchange

The 12 other ATCs currently dispensing include Ascend Wellness of Montclair, The Botanist (Compassionate Care Foundation) of Egg Harbor and Atlantic City, Garden State Dispensary of Woodbridge, Eatontown and Union Township, Breakwater Alternative Treatment Center of Cranbury, Curaleaf NJ, Inc. in Bellmawr, Harmony Dispensary in Secaucus, Rise in Paterson, Zen Leaf Elizabeth and Columbia Care in Vineland.

Participation in the program continues to grow. There are currently over 97,500 patients, 3,600 caregivers and 1,250 physicians enrolled.

Patients and caregivers can visit the Division of Medicinal Marijuana’s website if they choose to change their preferred ATC. The change can also be made by calling the Customer Service Unit of the Division at 844-419-9712 and does not require changing ID cards.

Patients can refer to the FAQ section of the website for additional information. Active physicians enrolled in the program are listed by county and medical specialty.

New Jersey residents interested in registering for medicinal marijuana can click here.  Registration requires an authorization by a participating physician.

FSD Pharma To Begin Trading On The NASDAQ Capital Market Under Symbol ‘HUGE’ January 9, 2020

FSD Pharma

CANADA: FSD Pharma Inc. today announced that its Class B Subordinate Voting Shares (the “Shares”) have been approved for listing on the NASDAQ Capital Market under the symbol ‘HUGE’. Trading on the NASDAQ is expected to commence at market open on Thursday, January 9, 2020.

The Company’s Shares will continue to be listed on the Canadian Securities Exchange under the symbol ‘HUGE’.

“As we announce this much anticipated and coveted milestone, I want to congratulate the FSD Pharma team, our stakeholders, and, most importantly, our shareholders. I also want to extend my gratitude to the members of the Board of Directors of FSD Pharma, and especially to the founders of the Company, for their vision and for giving me an opportunity to lead the FSD Pharma team to achieve this strategic advantage. It is exciting to realize that once we begin trading on NASDAQ, we will be included in a select group of 12 Canadian-domiciled cannabis companies trading on either the NYSE or NASDAQ, and the first company in the history of the Canadian Securities Exchange to be dual-listed on a major U.S. exchange,” stated Raza Bokhari, MD, Executive Co-Chairman and CEO.

 

FSD Pharma Appoints Former Member Of U.S. Congress To Its Board of Directors, Announces Share Consolidation

CANADA: FSD Pharma announced the appointment of former U.S. congressman Stephen Buyer to the Company’s Board of Directors. The Company also announced that it will complete a consolidation of its class A multiple voting shares and its class B subordinate voting shares each on a 1 to 201 basis.

“In welcoming Steve Buyer to the FSD Pharma Board of Directors and announcing a share consolidation, the Company has made an immense positive stride forward” said Raza Bokhari, MD, Executive Co-Chairman and CEO. “Steve’s addition has further strengthened the independence and profile of the FSD Pharma Board of Directors; his broad leadership experience and pharmaceutical industry relationships will help enhance our visibility, especially among U.S. Institutional investors and on U.S. Capitol Hill. The share consolidation or reverse split of our stock is timed to advance our strategic plan to raise the profile of our company in the U.S. capital markets, which includes listing on a major U.S. stock exchange in the near future” continued Dr. Bokhari.

“I’m pleased to be joining the FSD Pharma Board of Directors. The opportunity to participate in FSD’s growth at this stage is exciting. Unfortunately, auto immune diseases have clustered in my wife’s family. I am attracted by FSD’s medical research to tame and define the unknown by challenging the edges of medical science to provide relief to people suffering from fibromyalgia and other serious illnesses,” stated Mr. Buyer.

Stephen Buyer was a member of the United States House of Representatives, serving nine consecutive terms from January 1993 to January 2011. During Congressman Buyer’s long tenure in the Congress, he served on the Committees on Veterans Affairs, Armed Services, Judiciary, Energy and Commerce Committees and also served on the Military Compensation and Retirement Modernization Commission. He is presently the Managing Partner of the 10-Square Solution, LLC, focusing on business development, mergers and acquisitions, and representation before the federal government.

Congressman Buyer served as Chairman of the Committee on Veterans Affairs for the 109th Congress, as well as the Ranking Minority Member for the 110th and 111th Congresses. He centralized the VA’s IT architecture and was named to the Federal IT top 100. Congressman Buyer also served on the House Armed Services Committee from 1993 to 2001, including as Chair of the Subcommittee on Military Personnel in the 105th and 106th Congresses. He founded and co-chaired the National Guard and Reserve Components Caucus. He created the renewable energy portfolio for the Department of Defense and Veteran Affairs. He was the architect of TRICARE For Life and authored the U.S. military’s pharmacy redesign. His other Congressional assignments included service on the Health, Energy, and Technology subcommittees of the Committee on Energy and Commerce from 2001 to 2010, where he assisted in creating Medicare Part D, authored the electronic pedigree pharmaceuticals distribution system, served as a House Conferee on the Telecommunications Act of 1996, and lead the Congressional effort to reorganization of the U.S. Olympic Committee. He also served the House Committee on Judiciary from 1993 to 1999.

Congressman Buyer, as an Army Reserve officer, served four years on active duty, including a tour of duty in Iraq during the first Gulf War (1990-91) where he was awarded the Bronze Star as an Operational Law Judge Advocate. Prior to JAG, he was a Medical Service Corps Officer for 4 years. Congressman Buyer, after 30 years of service, retired with the rank of Colonel in the U.S. Army Reserve Judge Advocate General Corps.

Prior to his tenure in the United States Congress, Congressman Buyer served as a Special Assistant United States Attorney, Indiana Deputy Attorney General, and engaged in a private law practice.

Congressman Buyer is a distinguished military graduate of The Citadel in 1980 with a B.S. degree, and received his J.D. from Valparaiso University School of Law in 1984. He is a member of the Indiana and Virginia state Bars.

In addition, FSD is pleased to announce that its Board of Directors has approved the Consolidation on a 1:201 basis. Effective October 16, 2019, with a record date of October 17, 2019, the Company expects to begin trading the Class B Shares on the Canadian Securities Exchange on a post-Consolidation basis under its existing name and ticker symbol. The new CUSIP and ISIN for the Class B Shares are 35954B206 and CA35954B2066, respectively.

The Company currently has 1,582,966,252 Class B Shares outstanding and the Consolidation will reduce the issued and outstanding Class B Shares to approximately 7,874,809 Class B Shares. The Consolidation was approved by FSD shareholders at the Company’s special meeting held on January 22, 2019, and will allow the Company to continue to pursue the listing of the Class B Shares on a major U.S. exchange.

The Company will not be issuing fractional post-Consolidation FSD Shares in connection with the Consolidation. Where the Consolidation would otherwise result in a shareholder being entitled to a fractional FSD Share, the number of post-Consolidation FSD Shares issued to such holder of FSD Shares shall be rounded down to the nearest whole number of FSD Shares. In calculating such fractional interests, all FSD Shares held by a beneficial shareholder shall be aggregated.

A letter of transmittal with respect to the Consolidation will be mailed to registered shareholders of the Company. All registered shareholders with physical certificates will be required to send their certificates representing pre-Consolidation FSD Shares along with a completed letter of transmittal to the Company’s transfer agent, Computershare Investor Services Inc. (“Computershare”), in accordance with the instructions provided in the letter of transmittal. Additional copies of the letter of transmittal can be obtained through Computershare. All shareholders who submit a duly completed letter of transmittal along with their pre-Consolidation FSD Share certificate(s) to Computershare will receive a post-Consolidation share certificate. Shareholders who hold their FSD Shares through a broker or other intermediary and do not have FSD Shares registered in their name will not need to complete a letter of transmittal.

The exercise or conversion price and the number of FSD Shares issuable under any of the Company’s outstanding warrants and stock options will be proportionately adjusted to reflect the Consolidation in accordance with the respective terms thereof. After the Consolidation, there will be approximately 1,033,782 stock options and warrants to purchase 576,499 Class B Shares outstanding.

The Class A Shares will also be consolidated on a 1:201 basis, such that post-Consolidation there will be 72 Class A Shares issued and outstanding, each Class A Share representing 276,660 votes on all matters. Based on the current issued and outstanding number of FSD Shares, the Class A Shares collectively represent approximately 72% of the voting rights.

Aphria Agrees To Accelerate Expiry Of Green Growth Brands Bid And Terminate Its Option With GA Opportunities Corp

CANADA: Aphria announced that it has entered into a series of transactions that will accelerate the expiry date to April 25, 2019 for the previously announced take-over bid by Green Growth Brands Inc. and will terminate the arrangements with GA Opportunities Corp. for consideration of $89.0 million.
 
Irwin D. Simon, Aphria’s Chairman and Interim Chief Executive Officer stated, “We are very pleased to move forward with this favorable resolution as we continue to focus on the long-term growth of our leading cannabis business. We plan to use the $89.0 million in proceeds from the transaction to fund our strategic global expansion initiatives. On behalf of our Board of Directors and management team, we continue to recommend that Aphria shareholders reject the GGB offer and do not tender their Aphria shares to the GGB offer.”
 
Aphria has entered into a shortened deposit period agreement with GGB to facilitate the acceleration of the expiry of GGB’s offer to purchase all of the issued and outstanding shares of Aphria. In that regard, Aphria has agreed to reduce the initial deposit period of the bid to 92 days from January 23, 2019, the date that GGB commenced the GGB Offer. GGB will be mailing a Notice of Variation providing that the GGB Offer will expire at 5:00 p.m. on April 25, 2019. Based on the closing price of $3.86 per GGB share on the Canadian Securities Exchange on April 12, 2019, the implied consideration under the GGB Offer would be $6.07 per Aphria share, representing a significant 54.7% discount to Aphria’s closing price on the Toronto Stock Exchange of $13.41 per share on the same day.
 
In light of the foregoing and for the reasons previously disclosed, Aphria continues to recommend that Aphria shareholders reject the GGB Offer and do not tender their Aphria shares to the GGB Offer. 
 
In connection with the foregoing, GGB has entered into a share purchase agreement with GAOC pursuant to which GGB has agreed to purchase for cancellation 27.3 million shares held by GAOC, for an aggregate purchase price of $89.0 million. The terms of the Share Purchase Agreement include, among other things, that GGB will pay in cash $50.0 million of the Purchase Price to GAOC within 30 days of the date hereof and will issue a promissory note to GAOC for $39.0 million due in six months from the Closing Date. GGB has granted a security interest to GAOC to secure its obligations under the Share Purchase Agreement and the GGB Note. The completion of the Share Repurchase is conditional on the Purchase Price, on a per share basis, not being greater than the simple average of the closing price of the GGB shares on the CSE for the 20 trading days prior to the Closing Date.
 
Aphria and GAOC have also entered into a debt/call option settlement agreement pursuant to which Aphria has agreed to settle the debt owed under a promissory note issued by GAOC to Aphria in the amount of $55.0 million and terminate its rights under a related call option in consideration for total consideration of $89.0 million payable by GAOC upon the receipt of funds received under the Share Purchase Agreement and the GGB Note. GAOC has granted a security interest to Aphria to secure its obligations under the Settlement Agreement.

FSD Pharma To Establish Presence In Canada’s Insurance Regimes

Signs agreement focusing on exploring insurance coverage for medical cannabis Canada wide

CANADA: FSD Pharma Inc. announced the signing of a consulting agreement with Joseph L. Romano, a well-respected lawyer with a strong track-record in personal injury law. Mr. Romano has been working with medical cannabis since 2006, assisting people coping with chronic pain to have access to medical cannabis, a viable alternative to opioid based medications.

Pursuant to the terms of the agreement, Mr. Romano will provide consulting on the inner workings of third party actions, WSIB claim handling, first party coverage and no fault benefits across Canada. Mr. Romano will also assist in identifying strategic acquisitions that will enhance shareholder value.

Commenting on the agreement, Dr. Raza Bokhari, Executive Co-Chairman and interim CEO said, “We are very excited to engage Mr. Romano in advance of our anticipated sales license. This is a very timely and important agreement for FSD Pharma to maximize the opportunities in the Canadian market for our products and fits well with our strategy of establishing the company as a leader in medical cannabis.”

In consideration for his services, FSD will pay Mr. Romano consulting fees, warrants and shares in the company, subject to compliance with all applicable securities laws and the policies of the Canadian Securities Exchange.