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.

 

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.

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.

 

Tips For Investing In Marijuana Stocks

The hype for the marijuana is not dying soon. A lot of People are seeking to invest in the marijuana industry. The companies in the marijuana industry that you can invest stocks in are the marijuana growers companies in large scale using greenhouses and other indoors growing methods, the companies that provide ancillary products and services such as the greenhouse lighting, hydroponics or packing. Another company you can invest in stocks are the biotech companies that are geared towards cannabis. The cannabis industry is growing and investing in its shares is worthwhile. The following are ways you can invest in marijuana stocks:

1. Know the Company You Want To Invest In

As you can see, there are three types of marijuana companies you can invest in. Your financial goals and personal interests in marijuana should guide you in picking the right company to invest the stocks in. Research about the company you want to invest in. There is a lot of information online. Make an informed decision before you invest.

2. Know the Possible Risks

Investing is stocks can be highly profitable. However, the chances of risks are very high too. Investing in marijuana stocks has even higher risks. The possible risks that can greatly influence the marijuana stocks negatively are the political and legal issues, imbalances in the demand and supply of marijuana and the over the counter stocks.

piggybank3. The Amount You Want To Invest

How much money are you willing to invest in marijuana? Stocks are volatile and unpredictable. So do not invest too much of your money. Invest only in what you are willing to lose. If you are not an aggressive investor, do not invest too much of money on marijuana stocks. If you want to learn how to invest in highly risky stocks such as the marijuana stocks, join the forums such as the Investors Hangout. There is so much to learn in these stock investors forums.

4. Watch Out for the Changes in the Industry

Before you invest in this industry, learn and watch out for the market trends. This is a fairly new industry and the dynamics keeps on changing every now and then. You need to consider and predict what could happen in the near future before you invest in the marijuana stocks. You need to keep watch on the industry very closely.

5. Know the Different Types of Marijuana Products

Marijuana is used for two major purposes, the Medical and Recreational marijuana. One of the major reasons for the legalization and the continued legalization of marijuana is the medical properties. There are a few countries that have legalized it for recreational use. More than 30 countries in the USA have legalized the use of marijuana for medical use. This information should guide you towards the direction you want to take in investing in the marijuana products.

The marijuana stocks are volatile and unpredictable, just like any other type of stocks. However, they show promise of a good future. The industry is a bit young and fast growing. Start investing now in this industry.

Cresco Labs Shares Approved to Trade on the OTC Markets under the Symbol ‘CRLBF’

ILLINOIS: Cresco Labs, one of the largest vertically integrated multi-state cannabis operators in the United States, announced that its shares have been approved to be quoted on the Over-the-Counter Market (OTC) and will trade under the symbol “CRLBF,” effective immediately. Cresco has applied to trade its shares to the OTCQX Market, the top tier of the three markets for the over-the-counter trading of stocks.

Cresco-Logo_Blue“Trading on a U.S. market is important because investors now have direct access to invest in Cresco Labs and to support our mission of normalizing and professionalizing the cannabis industry,” said Cresco Labs CEO and Co-founder Charlie Bachtell.

Cresco Labs was approved for listing on the Canadian Securities Exchange (“CSE”) on Friday, November 30, 2018 and began trading on the CSE under the ticker symbol “CL” on Monday, December 3, 2018.

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.”

Aphria’s Board of Directors Rejects Green Growth Brand’s Hostile Takeover Bid As Significantly Undervalued And Inadequate

CANADA: Aphria announced that its Board of Directors has rejected the hostile bid by Green Growth Brands to acquire all of the outstanding common shares of the Company including any Common Shares that may become issued and outstanding after January 22, 2019, but prior to the expiry of the hostile bid upon the exercise, conversion or exchange of options, warrants, debentures or other securities of the Company exercisable or convertible into Common Shares, other than Common Shares owned by GGB or its affiliates, in exchange for 1.5714 shares of GGB.

aphria logoBased on the 20-day volume-weighted average price of GGB shares immediately before GGB’s announcement of an intention to acquire the Common Shares of the Company, the Hostile Bid reflects a 23% discount to the Company’s share price over the same period. The Board made its recommendation after careful consideration and receipt of the recommendation of a committee of its independent directors (the “Independent Committee”), who were advised by financial and legal advisors.

In the Board’s view, the Hostile Bid:

  • Significantly undervalues Aphria relative to its current and future worth, offering Aphria shareholders a substantial discount to its current and future value as opposed to a premium observed in other transactions in the cannabis sector involving Canadian licensed producers.
  • Would have negative repercussions, including delisting from the TSX and NYSE and a potential reduction in interest from strategic partners, that could destroy value for Aphria shareholders, with minimal offsetting operational, financial or strategic benefits.
  • Would result in Aphria shareholders effectively giving GGB shareholders a 36% interest in Aphria in exchange for shares in a company with limited operations or other experience in the cannabis industry.
  • Does not account for Aphria’s bright outlook, either as an independent company or in partnership with a strategic partner, which offers Aphria shareholders substantial value creation.

Weekend Unlimited Wins Lottery To Trade Under “POT” Symbol On CSE

POT lottery raises awareness and demand, OTC listing provides US investor access and broadens shareholder base

CANADA: Weekend Unlimited announced that it will begin to trade today on the CSE under the symbol POT. In addition, the Company is trading on the OTC Pink Open Market with ticker symbol WKULF.

The Company, which has just announced that it won the Canadian exchanges’ lottery for the trading symbol POT, believes that the addition of the OTC Pink Open Market will provide enhanced investor benefits including easier access and greater liquidity in the United States.

“We anticipate that in addition to our new CSE symbol POT, trading on the OTC Pink Market will raise our visibility within the investment community and will help to broaden our shareholder base,” said Mr. Brian Keane, Weekend Unlimited, Director.

Altria to Make Growth Investment In Cronos Group

Altria to Invest USD $1.8 Billion (CAD $2.4 Billion) for 45% Ownership Interest in Leading Global Cannabinoid Company with Warrant to Increase Ownership to 55% Over Next 4 Years

VIRGINIA: Altria Group today announced that it has entered into an agreement to acquire newly issued shares in Cronos Group, a leading global cannabinoid company, headquartered in Toronto, Canada. The transaction represents a 45% equity stake in Cronos Group, at a price of CAD $16.25 per share, for an aggregate investment by Altria of approximately USD $1.8 billion (approximately CAD $2.4 billion).

As part of the agreement, at closing, Altria will have the right to nominate four directors, including one independent director, to serve on Cronos Group’s Board of Directors, which will be expanded from five to seven directors. The agreement includes a warrant to acquire an additional ownership interest in Cronos Group at a price of CAD $19.00 per share exercisable over four years from the closing date. If exercised in full, the warrant would increase Altria’s ownership in Cronos Group by 10% to approximately 55%.

Cronos-no-icon

“Investing in Cronos Group as our exclusive partner in the emerging global cannabis category represents an exciting new growth opportunity for Altria,” said Howard Willard, Altria’s Chairman and Chief Executive Officer. “We believe that Cronos Group’s excellent management team has built capabilities necessary to compete globally, and we look forward to helping Cronos Group realize its significant growth potential.”

“Altria is the ideal partner for Cronos Group, providing the resources and expertise we need to meaningfully accelerate our strategic growth,” said Mike Gorenstein, Cronos Group’s Chairman, President and Chief Executive Officer. “The proceeds from Altria’s investment will enable us to more quickly expand our global infrastructure and distribution footprint, while also increasing investments in R&D and brands that resonate with our consumers. Importantly, Altria shares our vision of driving long-term value through innovation, and we look forward to continuing to differentiate Cronos Group in this area.”

This investment positions Altria to participate in the emerging global cannabis sector, which it believes is poised for rapid growth over the next decade. It also creates a new growth opportunity in an adjacent category that is complementary to Altria’s core tobacco businesses.

Altria expects its investment to help Cronos Group accelerate its growth strategies and its R&D and intellectual property development. Additionally, Altria will provide expertise to help Cronos Group thrive in the growing global cannabis market. These services may include regulatory affairs, regulatory science, compliance, government affairs and brand management.

FSD Pharma Achieves Over 4 Billion Shares Traded In First 6 Months

CANADA:  FSD Pharma announced today that the Company has traded over four Billion Class B subordinate voting shares in its first six months of trading on the Canadian Securities Exchange. During the period of May 29, 2018 to November 29, 2018, the Company traded exactly 4,041,346,300 Class B subordinate voting shares on the CSE. This is the largest total quantity of share volume ever traded by a CSE listed issuer within one year of consecutive days of trading as confirmed by the CSE.

The Company wishes to again thank all its shareholders and stakeholders for their support to date, which has resulted in another record-breaking launch into the Canadian cannabis marketplace.