CannaTech Tel Aviv & PsyTech Summit Postponed

New Dates

PsyTech Summit: June 14-15, 2020

CannaTech Tel Aviv: June 15-16, 2020

ISRAEL: In light of developing circumstances with the COVID-19 coronavirus and based on recommendations from the Israeli Ministry of Health, the World Health Organization (WHO) and the Centers for Disease Control and Prevention (CDC), CannaTech Tel Aviv and PsyTech Summit are postponed.  PsyTech Summit will take place June 14-15 and CannaTech, June 15-16, 2020.

Saul Kaye, CEO of iCAN: Israel-Cannabis commented: “Our number one concern is the health and safety of our attendees and speakers, our partners, our colleagues and our vendors. While we are disappointed to postpone both CannaTech Tel Aviv and PsyTech Summit, we are very confident it will be worth the wait.

“We thank our sponsors and attendees for their understanding and wish all those affected by the virus our very best. We are fully committed to create beautifully crafted events in June that will showcase the brands and solutions that fuel this industry.”

Aphria Announces Closing Of $100 Million Strategic Investment From Institutional Investor

CANADA: Aphria announced that it closed its previously announced strategic investment from an institutional investor for aggregate gross proceeds to the Company of C$100,000,001.

Pursuant to the Offering, the Significant Investor has agreed to purchase 14,044,944 units of the Company at a price of C$7.12 per unit. Each unit is comprised of one common share of Aphria and one-half of one common share purchase warrant of Aphria. Each warrant will entitle the Significant Investor to acquire one common share at a price of $9.26 for a period of 24 months from the closing date of the Offering.

As previously disclosed, the Company intends to use the net proceeds from the Offering to finance international expansion, working capital and general corporate purposes.

The units and the securities comprising the units are being offered pursuant to a shelf registration statement (including a prospectus) previously filed with and declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on November 26, 2019 and, in Canada, will be offered and sold in Ontario only by way of a prospectus supplement.

“We are pleased to be closing this successful $100 million strategic investment that reinforces confidence in our business and management team,” said Irwin D. Simon, Chief Executive Officer. “Importantly, now with nearly $600 million, our balance sheet has been further strengthened and will continue to support us as we execute upon our strategic plan for continued growth.”

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which an offer, solicitation or sale would be unlawful prior to registration and qualification under the securities law of such jurisdiction.

Copies of the prospectus supplement and shelf registration statement are available relating to a particular offering will be available, under Aphria’s profile on SEDAR at www.sedar.com and EDGAR at www.sec.gov, respectively.

Tilray Completes Merger With Privateer Holdings

TilrayPrivateerCANADA: Tilray, Inc., a global pioneer in cannabis research, cultivation, production and distribution, today announced that the merger with Privateer Holdings, Inc. closed on December 12, 2019.
 
Mark Castaneda, Chief Financial Officer of Tilray, said: “We appreciate the long-term confidence that Privateer has in the Tilray business and we look forward to having their investors as part of our stockholder base. We believe this transaction will give Tilray greater control and operating flexibility, while allowing us to effectively manage our public float.”
 
Pursuant to the merger, all of Privateer’s capital stock outstanding immediately prior to the effective time of the merger (excluding certain shares) were cancelled and automatically converted solely into the right to receive the applicable portion of an aggregate shares of Tilray Class 2 common stock and shares of Tilray Class 1 common stock (inclusive of shares of Tilray Class 2 common stock held in escrow for contingent release to Privateer’s stockholders) issuable as consideration in merger.  Tilray did not pay any cash consideration in connection with the merger.

As previously disclosed, each Privateer equity holder who received the shares of Tilray stock in the merger is subject to a lock-up allowing for the sale of such shares only under certain circumstances over a two-year period. During the first year following the closing of the merger, shares will be released only pursuant to certain offerings or sales arranged by and at the discretion of Tilray. At the end of the first year, to the extent not already released at Tilray’s discretion as a result of the aforementioned offerings or sales, 50 percent of the total shares subject to the lock-up will be released. Over the course of the second year following closing, the remaining shares will be subject to a staggered release in four equal quarterly increments.

Global Cannabis Business Leaders, Scientists, Technologists & Thought Leaders Gather For CannaTech Cape Town, South Africa, November 24 – 26, 2019

ISRAEL: As the global medical cannabis market continues to expand and increasing numbers of countries around the globe legalize its use, the renowned CannaTech Summit will take place for the first time on the African Continent in Cape Town, South Africa, November 24 – 26 at The Lookout, V&A Waterfront.

With estimates that the cannabis and associated products market could be worth R27 billion by 2023, this immense potential has led to a boom in regional cannabis interest and investment.

CannaTech Cape Town will bring together industry leaders from across the African Continent and around the world known for their significant and ground-breaking contributions to the global medical and recreational cannabis market in all fields including Agricultural Tech and Innovation, Business and Finance, Policy and Regulation, Science and Medicine.

“The global interest in Africa’s cannabis market and South Africa’s recent legislative acceptance of cannabis makes Cape Town the perfect destination for CannaTech. Following South Africa, several African countries, including Swaziland, Malawi, and Zimbabwe, are examining legalizing cannabis cultivation for medical or industrial applications.  We are thrilled to bring some of the world’s leading companies and investors to CapeTown to meet with their counterparts to discuss a range of business and technological issues and work with like minded professionals who understand the immense global health and business potential of medical and recreational cannabis moving forward,” said Saul Kaye, Founder and CEO of iCAN:Israel-Cannabis. “As someone born in South Africa, I am especially looking forward to establishing ties throughout the entire continental cannabis eco-system,” he added.

MediPharm Labs Signs Agreement With AusCann For Cannabis Oil Export To Australia

CANADA: MediPharm Labs, a leader in specialized, research-driven cannabis extraction, distillation, purification and cannabinoid isolation, is pleased to announce that its wholly-owned subsidiary, MediPharm Labs Inc. (“MediPharm Labs” or the “Company”), has entered into its first definitive international sales agreement, dated February 20, 2019, with AusCann Group Holdings Ltd. (“AusCann”) to supply private label purified, pharmaceutical grade cannabis oil concentrates, or resin, from MediPharm Labs’ own inventory of oil for export to Australia. AusCann will use MediPharm Labs’ concentrates to manufacture hard-shell cannabinoid capsules to address the medical patient demand and critical need for precision and consistency of dose in cannabinoid medicines.

“MediPharm Labs has quickly established a global reputation as the go-to producer of high quality, pharmaceutical grade cannabis concentrates at commercial scale. We are thrilled to have been selected by AusCann as a supplier of choice for their medical products and clinical trials,” said Patrick McCutcheon, Chief Executive Officer of MediPharm Labs. “As the first extraction-only LP to begin exporting to Australia, this agreement marks an important milestone that accelerates our expectations for future growth. Looking ahead, we expect to begin supplying additional international markets to build our robust global distribution platform.”

“MediPharm Labs’ significant market share combined with proprietary methodology ensures reliable supply of pharma-grade cannabinoid extracts and AusCann’s continued ability to develop and deliver quality cannabinoid medicines for distribution in Australia,” said Dr. Paul MacLeman, Interim CEO of AusCann. “Critical to our process is repeatability in manufacturing, reliable dosing, and purity assurance. MediPharm Labs’ concentrates will form an important foundation to our products that will allow delivery of effective, trusted and safe medicines for the treatment of chronic pain.”

This marks the Company’s first international export agreement and establishes MediPharm Labs as the first extraction-only licensed producer in Canada to commence exporting pharmaceutical grade cannabis oil to Australia. To date, MediPharm Labs has completed 5 private label sales agreement since receiving its sales license in November 2018. The first export of cannabis concentrate is expected be completed in the coming months, subject to regulatory requirements. The agreement has a two-year term. The Company expects to continue expanding its international distribution of its proprietary cannabis concentrate products for resale globally on a private label basis for medical markets. Initially this demand will be serviced from its wholly-owned, leading facility in Canada, and once its Australian laboratory, now under construction, is fully licensed and operational, Australia and Asia-Pacific demand can be addressed regionally.

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.”

Cura Partners Enters European Market With Plata Wellness To Distribute Select CBD Brand

UNITED KINGDOM: Cura Partners, one of the largest cannabis and hemp-based CBD consumer products companies in the world, is officially entering the European market (EU) through a distribution agreement with Plata Wellness.

CuraThe agreement allows Cura’s Select CBD products to be available direct to consumers in legal markets across Europe via the website www.selectcbd.eu. Cura has appointed Plata Wellness Limited (Plata) to assist with its entry into the EU. In addition to Plata’s role as Cura’s inaugural overseas distributor, Plata is also providing a number of other services including order fulfillment, payment processing, and in the future, licensing and manufacturing. This partnership begins with the introductions of Select’s CBD disposable vaporizer cartridges but will, over time, add other legal consumer products including tinctures, gel caps and muscle rubs.

“Cura’s decision to move into Europe is in direct alignment with the company’s mission to be the leading provider of cannabis oil to consumers and brands in legal U.S. and international markets,” said President and Chief Executive Officer Cameron Forni. “I’m proud of the team that made this possible, and look forward to partnering with Plata Wellness to get the Select CBD brand into the hands of consumers across Europe.”

Europe is home to more than 741 million people, more than double the combined population of the United States and Canada. When trying to extrapolate these numbers to account for the potential demand in Europe’s much larger population, there is a crystal-clear reason why established cannabis companies in the United States are now turning their attention to Europe.

“We are delighted to have partnered with Cura, the market leading company in this sector. We are excited to work together to bring the Select brand to prominence in Europe and to supply consumers with these award-winning products,” said Jon Robson, Managing Director at Plata Wellness Limited.

Consumers in the United Kingdom can purchase Select CBD Blends vape pens online at www.selectcbd.eu with additional products coming soon.

Aphria Completes Acquisition Of German Pharmaceutical & Medical Cannabis Distributor CC Pharma

CANADA: Aphria Inc. announced that it had completed its acquisition of CC Pharma GmbH, a leading distributor of pharmaceutical products, including medical cannabis, to more than 13,000 pharmacies in Germany, as well as throughout Europe. The Company continues to strengthen its end-to-end cannabis operations and infrastructure in Germany.

aphria logo“As one of the most promising medical cannabis markets in the world, Germany is a top strategic priority for Aphria. With today’s acquisition of CC Pharma, Aphria is creating a German and ultimately pan-European platform that brings together demand, supply and distribution.” said Vic Neufeld, CEO of Aphria. “We’re excited to welcome the CC Pharma team and the pharmacists they serve to the Aphria family.”

Dr. Manfred Ziegler, Managing Director of CC Pharma, added, “We’re thrilled to be joining forces with Aphria. Access to Aphria’s innovative products creates significant opportunities for CC Pharma’s customers to experience more medical cannabis treatment options.”

CC Pharma is a leading importer and distributor of EU-pharmaceuticals for the German market. Founded in 1999, today it has over 230 employees and offices in Germany, Denmark, Poland and the Czech Republic. CC Pharma holds 318 active German national pharmaceutical licenses and 692 active EU pharmaceutical licenses, and also operates a production, repackaging and labeling facility at its headquarters in Densborn, Germany. During 2018, CC Pharma generated revenue of approximately €262 million, with EBITDA of approximately €10.5 million.

“Through a series of deliberate and strategic partnerships, investments and appointments over the past 18 months, Aphria is a front runner in the German medical cannabis market,” said Hendrik Knopp, Managing Director of Aphria Germany. “CC Pharma’s shared values, deep relationships and local regulatory and logistical experience are a perfect complement to Aphria’s expertise. One of our first steps will be to create a new division of CC Pharma dedicated to medical cannabis.”

In addition to today’s acquisition of CC Pharma, other previously announced strategic milestones for Aphria and its wholly owned subsidiaries in Germany include:

A significant supply agreement to provide CC Pharma approximately 1,200 kilograms of medical cannabis products, exported from Canada and Denmark to Germany.

A 2018 investment in Berlin-based Schöneberg Hospital, a first step in Aphria’s plans to build and operate pain treatment centres throughout Germany.

The construction of a state-of-the-art, GMP certified cannabis vaults (5,000 kg storage capacity), in Bad Bramstedt, Germany, to be completed by late spring 2019.

The start of construction of a Research and Development indoor growing facility in Neumünster, Germany, in preparation for in-country cultivation.

Aphria paid €18.92 million in cash to the former shareholders of CC Pharma with an earn-out multiple on future EBITDA of up to another €23.5 million, if certain performance milestones are met.

Greater Cannabis Company Inks Distribution Agreement With iCAN: Israel Cannabis

ISRAEL: The Greater Cannabis Company, a biopharmaceutical company focused on development and commercialization of innovative delivery systems for the Cannabis market, has entered into a letter of intent with iCAN Cannabis  to expand distribution of its eluting patch platform into key global markets. The eluting patch platform is an innovative delivery system, which uses a patented mucoadhesive and multilayered orally dissolving thin film to deliver a precise dose of cannabinoids into the body through the buccal mucosa. Clinical studies funded in part by the National Institutes of Health (NIH) have shown the delivery system’s capability in achieving higher bioavailability and desired results in the body using lower, and controlled, dosing when compared to other routes of administration.

The agreement with iCAN will include commercial ready formulations to meet medical and recreational market demands. Distribution and marketing rights for iCAN will include Israel, Australia, South Africa, Netherlands, South Africa, Mexico, Colombia,  Panama,  Germany,  Austria,  Switzerland,  Malta,  Macedonia, and Portuguese territories.

iCAN is a global company focused on the cannabis ecosystem. iCAN operates a global platform for distribution of cannabis products through its iCAN Serve unit with an expansive footprint. iCAN also holds a portfolio of companies including CannRx, an extraction and formulation business and CMTREX, a commodities trading platform for the cannabis industry, CannaTech, the leading producers of global cannabis conferences focused on research, science, and innovation, and endoCRO, a contract research organization spearheading therapeutic focused studies.

Industry leader and CEO of iCAN, Saul Kaye, said of the transaction, “I am very excited about the prospect of offering GCAN’s products through our many distribution channels. I have seen many groundbreaking innovations come through our CannaTech conferences, and the eluting patch technology was a platform I was particularly impressed with. I believe this technology can redefine how consumers think about cannabis. From the lower dosage form, to the controlled and slow release mechanisms, and the ability to use it anywhere, I believe the product will resonate really well with consumers and generate rapid traction in the markets we intend to bring it to.”

Aitan Zacharin, CEO of Greater Cannabis said, “I am pleased to announce our partnership with iCAN. Saul is an industry leader who is at the forefront of everything tech in cannabis. His desire to partner with us is a testament to the strength of our technology, and its capabilities. We are excited to establish this important partnership in the medical and adult-use cannabis industry. We are focused on transactions that will accelerate commercialization of our products, and the iCAN deal does that globally. iCAN shares our enthusiasm for seeing healthier, standardized, pharmaceutical-grade, and more cost-effective cannabis products introduced into the market. We look forward to working with iCan to bring our cutting-edge technology to consumers worldwide.”

Aphria’s Colombian Subsidiary, Colcanna, Inks Exclusive Agreement With Colombian Medical Federation

CANADA:  Aphria announced that its Colombian subsidiary has signed an exclusive agreement with the Federación Médica Colombiana, a national guild that oversees the ethical exercise of the medical profession in Colombia, to jointly develop an academic curriculum on the medicinal use of cannabis.

“Education in the medical community is critical for sustaining the advancement of medical cannabis in Colombia” said Gabriel Meneses, Vice President, LATAM & Caribbean at Aphria. “Colcanna is proud to make this exclusive arrangement with Federación Médica Colombiana, which will offer doctors and medical professionals across the country a credible and trusted source of information and training on medical cannabis.”

The FMC has nearly 2,000 affiliated doctors and a database of more than 70,000 medical professionals that access the organization for research and educational resources, including through a virtual platform that offers certified courses on a range of subjects. The medical cannabis curriculum developed by Colcanna and FMC will be made accessible on this platform and will be supported by scientific events for the medical community.

“As a leading global cannabis company, Aphria is committed to the long-term advancement of medical cannabis in every market in which we operate, through our diversified approach to innovation, strategic partnership and expansion,” said Jakob Ripshtein, President of Aphria. “Partnerships like this between Colcanna and FMC are a direct result of our comprehensive approach to establishing a leading foothold in Colombia, throughout Latin America and in markets around the world.”