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.

 

FSD Pharma Announces Acquisition To Expand In Newfoundland

CANADA: FSD Pharma announced a binding agreement to purchase 51% of Atlantic Island Cannabis (to be renamed FSD Atlantic Pharma Inc.) effective July 4, 2018.

The agreement involves a strategic investment of $40 million to drive production and sales of legal cannabis in the province of Newfoundland. In the first phase of the project, an indoor high quality 45,000 square foot cannabis production facility will be set up in Freshwater, Carbonear, Newfoundland. This site is expected to bring about economic benefits for the province and to create 200 local, management and construction jobs through a phased expansion approach. Phase two of the project will involve a further expansion of the indoor grow facility to up to approximately 300,000 square feet for the production and processing of legal cannabis.

The purchase price for 51% of Atlantic Island Cannabis Inc. is $6,500,000 payable in Class B subordinated shares of FSD based on a 15 day Volume Weighted Average Price. The site will initially be leased but FSD has the option to purchase the site at any time for $1,500,000. The FSD shares issued will be escrowed subject to completion of a number of conditions, including but not limited to, due diligence by FSD, satisfactory documentation, receipt of third party consents and a valid purchase order from the government of Newfoundland.

The closing date is expected to occur on or before August 31, 2018.

“Newfoundland is a fantastic province with outstanding, highly skilled people,” said Thomas Fairfull, President and CEO, FSD Pharma Inc. “This is another expansion milestone for FSD Pharma as we continue to grow our production and distribution footprint nationally.”

Speaking about the agreement, Suman Pushparajah, Chairman, Atlantic Pharma Inc. said: “One of the compelling factors for us in considering this association is the scope of benefits for the local population. We have outlined a phased growth plan to set up a long term sustainable business model for the community of Freshwater, Carbonear, Newfoundland. Seeing a real value in partnering with FSD Pharma, we are approaching the association from a long term benefit perspective.”

Can CBD Dog Treats Help Ease your Dog’s Pain and Anxiety?

COLORADO: It’s difficult to watch our pets age. They provide so much unconditional love and support, we can’t imagine living our lives without them. As we watch them age, we can’t help but recall their younger years as puppies, when they would bounce and frolic about. While we can’t bring back our dog’s youth, we can help ease the pain of old age and anxiety caused by modern life.

We don’t intentionally let our dogs suffer, but it’s hard to tell exactly what they need because they can’t talk. Oftentimes, we do feel the pain and stress that they are experiencing, just by looking in their eyes. It doesn’t help that modern dog food often uses cheap fillers and poor ingredients that can compromise our dog’s health.

Fortunately for us loving dog owners, modern technology is unlocking the secrets of the hemp plant to ease the suffering and pain our dogs experience but can’t describe to us in words.

Scientists have discovered how a compound in hemp called cannabidiol, or CBD, can help our dogs with a wide range of pain and stress-related issues. These issues include separation anxiety, old-age related pain, i.e., arthritis or hip and joint pain. Another benefit of hemp-based CBD dog treats and biscuits is that they help calm dogs that are anxious from the frightening noise from fireworks or thunderstorms.

Dr. Axe, a prominent celebrity physician based in Nashville, TN, had this to say about CBD in a recent article on his site, “Research shows that CBD benefits include acting as an anti-inflammatory, anticonvulsant, antioxidant, antiemetic, anxiolytic and antipsychotic agent, and is therefore a potential medicine for the treatment of neuroinflammation, epilepsy, oxidative injury, vomiting and nausea, anxiety and schizophrenia.”

A common erroneous concern about CBD is that it will make your dog high. However, CBD by itself contains no THC, the active ingredient in marijuana that creates the sensation of being high. So you can rest assured your dog has the ability to stay calm, but clear-headed when enjoying a hemp-based CBD dog biscuit or treat.

Tilray Announces Second Facility To Meet Rapidly Growing Global Demand For Medical Cannabis

CANADA: Tilray Canada Ltd., a global leader in medical cannabis research and production, has announced that it will invest, through an affiliated entity, up to $30 million in a second cultivation and processing facility located in Enniskillen, Ontario. The two facilities will generate a combined production capacity of up to 51 metric tonnes per year, which will position Tilray to respond to significant projected growth in demand for its medical cannabis products in Canada as well as the European Union, Australia, New Zealand and Latin America.

“This is another strategic milestone for Tilray as we aim to build the world’s most trusted and admired medical cannabis brand,” said Brendan Kennedy, Chief Executive Officer of Tilray. “As governments around the world increase access to medical cannabis, and as Canada prepares to legalize and regulate cannabis for responsible adult consumption, this investment will enable us to serve the rapidly expanding global market for quality-controlled, rigorously tested medical cannabis products.”

Expanded Capacity to Accelerate Tilray’s Global Expansion Plans

Tilray was the first licensed producer to legally export medical cannabis products from North America to the European Union, Australia, New Zealand and South America. Currently, Tilray products – including pharmaceutical-grade whole flower, oils, and capsules – are available in 6 countries spanning 4 continents. The company is aggressively expanding international distribution of its products with plans to export to 5 additional countries by the end of 2017.

In 2016, Tilray also became the first medical cannabis licensed producer in North America to be GMP-certified in accordance with the European Medicines Agency’s (EMA) Good Manufacturing Practice (GMP) standards. GMP certification is the most rigorous standard that manufacturers of medical products must meet in their production processes, and it provides regulators and health care providers in countries new to medical cannabis with certainty that Tilray products are a safe and smart choice.

Tilray’s Best-in-Class Production Facilities

Tilray currently owns and operates one of the world’s most sophisticated, federally-licensed medical cannabis cultivation and processing facilities, located in Nanaimo, British Columbia. The flagship $30 million facility, which opened in 2014 and achieved EU GMP certification in 2016, has the capacity to produce 8 metric tonnes of medical cannabis per year. It also houses a state-of-the-art extraction and R&D centre focused on processing raw flower into pharmaceutical-grade products like oils and capsules, in addition to developing new methods of delivery that provide alternatives to smoking.

The company’s second facility being announced today is located in Enniskillen, Ontario on a 100-acre property with 13 acres of existing greenhouse space. The property is currently producing peppers for the Enniskillen Pepper Company. Tilray has submitted an application to Health Canada to receive a federal license to produce medical cannabis on the Enniskillen site. In the first phase of the project, the property will house a 10-acre cannabis greenhouse facility and approximately 40,000 square feet of processing space. The facility marks a total capital investment of up to $30 million and, together with Tilray’s Nanaimo facility, is expected to generate a combined production capacity of as much as 51 metric tonnes by the end of 2018. In future phases to be completed over the next several years, the first 10 acres of Tilray’s new greenhouse in Enniskillen will be expanded up to 30 acres.

Tilray chose Enniskillen because the township is strategically located and has a strong workforce of qualified, skilled agricultural professionals. The Enniskillen facility is expected to hire approximately 50 people to work in operations, production, cultivation and facilities through the end of 2018. Over the next five years, the project is expected to create 200 to 250 full-time jobs in the region.

 

Striking Oil: The Business of Edibles, Topicals and Concentrates Is Jan 21st In Tacoma, WA

The Marijuana Business Association and Front Runnerpowered by TetraTrak, have announced their first Professional Seminar of 2016: “Striking Oil: The Business of Concentrates, Edibles, and Topicals.”

The half-day MJBA Professional Seminar takes place on Thursday, January 21st, 2016,1PM-6PM, at the Red Lion Hotel in Tacoma, WA. Hosted by The Marijuana Business Association and business intelligence firm Front Runner, “Striking Oil” will provide I-502 Producers, Processors, Retailers, and industry professionals with an in-depth look at Washington’s emerging marketplace for cannabis concentrates, oils, edibles and topicals.

The legal cannabis marketplace has evolved well beyond the bud, and today Edibles, Topicals, Concentrates and Oils represent the fastest-growing segments for Washington’s legal cannabis industry.  MJBA and Front Runner will kick off the afternoon with a detailed parsing of the LCB sales numbers to date, with forward-looking analysis from Front Runner CEO Brian Yauger.

CannaSol Farms founder Jeremy Moberg will deliver the keynote address, providing his prospective as one of the state’s leading Producer/Processors, and an outspoken advocate for naturally-grown cannabis. He will focus his remarks on the needs for Washington producer/processors to self-regulate.

Exciting new cannabis-infused products and concentrates bring with them a host of new business challenges for our emerging industry, including how to create best practices and common standards for Contaminants/PesticidesDosing and Packaging, and Lab Testing/Quality Assurance.  To provide their insights into these pressing issues and others, MJBA has assembled subject matter experts from Washington’s top cannabis companies to serve as our VIP Panelists.

Leading subject matter experts from Db3 (Zoots) , Mirth Provisions (Legal) , Eden Labs, Cannabis Basics, Avitas, Kush Creams, Mary’s Medicinals, The Goodship, Ethos Extracts, Robotanical, Spot, Integrity Labs, Landrace Labs, Dama, Amoebic Extracts, (and many others) will lead discussions on Edibles; Topicals, Concentrates and Lab Standards.

Industry Thought Leaders Speak at MJBA/Front Runner Seminars

Industry Thought Leaders Speak at MJBA/Front Runner Seminars

Tickets are $99 in advance/$125 Day of Show. MJBA Members and Front Runner Subscribers receive special discount!

Reserve your tickets here:  https://www.eventbrite.com/e/striking-oil-the-business-of-edibles-topicals-and-concentrates-tickets-20114229201?

“Striking Oil” VIP Sponsors include Robotanical, Eden Labs, Cannabis Basics, PayQwick, Avitas and Great Pacific Packaging. .

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Everyone uses cash because banks, which are federally regulated, aren't keen on the idea of getting into business in an industry that is still federally illegal.

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