NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.
Hempsana Holdings Ltd. (the " Company " or " Hempsana ") today announced three and six months financial results for the period ended June 30, 2022.
Randy Ko, Hempsana's CEO commented: "Despite production setbacks, the second quarter of 2022 was highlighted by the commercialization of cannabinol ("CBN") with initial orders taking place in June and the successful launch of ufeelu Calm Drops that was made available to consumers in Ontario which has quickly become a top selling CBG/CBD oil extract in Ontario. In this increasing diverse and competitive market, we continue to focus on product quality and improving our operation capabilities of our core B2B products such as distillate and isolate formats of CBD, THC, CBG and now CBN. We continue to focus on consumer data driven insights, innovation and brand development to bring unique products to market and with sights on beginning production and distribution of six new SKUS in Q3 in the pre-roll, health and wellness categories through our newest brands that we have added to our product portfolio: 1337 Elite, Canna Relief, Caviar Gold, Cream of the Crop Therapeutics, Haven and Shyne Botanicals."
Resignation of Sohil Mana from the Board of Directors
The Company announced the resignation of Sohil Mana from the Board of Directors. Mr. Mana was one of the founders of the Company, and will continue to play an active role in advising the Company going forward. Douglas Sommerville, Chairman of the Board, commented: "Sohil's leadership has been instrumental in getting the Company to this point of its evolution. His industry experience and knowledge are exceptional and we look forward to his continued participation in helping grow the Company."
The Board of Directors has granted 750,000 stock options to Randy Ko, CEO. The options have an exercise price of $0.045 and expires on August 26, 2027.
The Company's business involves the manufacturing of cannabis derivatives and producing cannabis extracts for use in finished products, including vapeables, topical creams and infused consumables. Hempsana's Health Canada Standard Processing Licensed, and EU-GMP compliant facility provides the Company with access to wholesale and retail channels in Canada and internationally.
For additional information regarding Hempsana, please contact:
Randy Ko Director and Chief Executive Officer T: (647) 255-8849 E: randy@Hempsana.ca
This press release contains forward-looking statements and forward-looking information within the meaning of applicable Canadian and U.S. securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this press release contains forward looking statements and information concerning the business and operations of the Company. The forward-looking statements and information are based on certain key expectations and assumptions made by management, including expectations and assumptions concerning the Company. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information. There can be no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause the actual results and expectations to differ materially from the anticipated results or expectations expressed. These risks and uncertainties, include, but are not limited to, general economic conditions and the state of the regulatory environment. Please refer to the Company's public record on SEDAR at www.sedar.com for more details on the risks faced by the Company. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward- looking information for anything other than its intended purpose. Management of the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
News Provided by GlobeNewswire via QuoteMedia
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.
Hempsana Holdings Ltd. (the " Company " or " Hempsana ") today announced fourth quarter and annual financial results for the twelve-month period ended December 31, 2021.
Randy Ko, Hempsana's CEO commented: "2021 was the inaugural year for Hempsana. After several years of preparation and hard work, we completed the build out of our facility and launched commercial operations. We also completed the RTO and became publicly traded. 2021 was the year we laid the foundation for longer term growth: we built a production and management team, amended our cannabis licence to authorize us to directly sell, established strategic supplier relationships and developed key customer relationships. While the cannabis market faced significant turmoil in 2021, we were able to advance our business plan despite the challenges."
The Company announces the grant of an aggregate of 757,000 incentive stock options to certain directors and officers of the Corporation exercisable at CAD$0.05 until April 22, 2032 pursuant to the Corporation's stock option plan.
The Company's business involves the manufacturing of major and minor cannabinoid derivatives and producing cannabis extracts for use in finished products and other infused consumables. Hempsana's Health Canada Standard Processing Licensed, and EU-GMP compliant facility provides the Company access to wholesale and retail channels in Canada and internationally. Hempsana currently offers a wide range of product formats, including cannabis concentrates, diamonds, tablets, topicals, tinctures, salves, infused pre-rolls, and hemp-based CBD products that are all manufactured and distributed by Hempsana.
For additional information regarding Hempsana, please contact:
Randy Ko Director and Chief Executive Officer T: (647) 255-8849 E: randy@Hempsana.ca
This press release contains forward-looking statements and forward-looking information within the meaning of applicable Canadian and U.S. securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this press release contains forward looking statements and information concerning the business and operations of the Company. The forward-looking statements and information are based on certain key expectations and assumptions made by management, including expectations and assumptions concerning the Company. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information. There can be no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause the actual results and expectations to differ materially from the anticipated results or expectations expressed. These risks and uncertainties, include, but are not limited to, general economic conditions and the state of the regulatory environment. Please refer to the Company's public record on SEDAR at www.sedar.com for more details on the risks faced by the Company. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward- looking information for anything other than its intended purpose. Management of the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
News Provided by GlobeNewswire via QuoteMedia
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.
Hempsana Holdings Ltd. (the " Company " or " Hempsana ") a leader in the production and refinement of cannabinoids and manufacturing of Cannabis 2.0 products, is pleased to announce with GAMA Corp (" GAMA ") a contract manufacturing agreement with Caviar Gold Brand to bring the original infused and the only patented brand in the world pre-roll cones and moon rocks to the Canadian and International Markets for both the recreational and medical market.
"We are extremely excited to team up with Cavi Mike and his Caviar Gold, Ice Cube and Jay & Silent Bob brands to deliver their patented high quality high potency infused products to Canada. The Caviar Gold brand continues to dominate the infused pre-roll cone and moon rock categories across multiple states in the USA, and now is the right time to share these brands in Canada and abroad," said Randy Ko, Chief Executive Officer of Hempsana.
Caviar Gold Brands have differentiated and set their products apart from all other infused flower brands using a proprietary extraction process and an innovative unique finishing process for their infused products. Hempsana and GAMA expect to begin initial production of Caviar Gold's portfolio of infused pre-rolls and moon rocks in Q2 of 2022 with launch dates of the products and distribution to retail stores across Canada to commence in the second half of 2022. The product portfolio will include, but not limited to, one gram infused pre-roll cones and moon rocks in one-gram and two-gram sizes for the following strains:
The Company's business involves the manufacturing of major and minor cannabinoid derivatives and producing cannabis extracts for use in finished products and other infused consumables. Hempsana's Health Canada Standard Processing Licensed, and EU-GMP compliant facility provides the Company access to wholesale and retail channels in Canada and internationally. Hempsana currently offers a wide range of product formats, including cannabis concentrates, diamonds, tablets, topicals, tinctures, salves, infused pre-rolls, and hemp-based CBD products that are all manufactured and distributed by Hempsana.
The Company's business involves consulting on the formulation and stabilization of major and minor cannabinoid derivatives and partnering with Licensed producers to deliver contract manufacturing operational (CMO) services for existing power brands out of the United States and unique products that are in high demand and short supply in Canada and International markets.
Caviar Gold Brand is a cannabis products processor that utilizes patented processes to infuse full spectrum THC into premium quality cannabis flower, to produce the one of the most potent (up to 58% THC) and smokable pre-rolls and moon rocks in the market. Along with its award-winning line up of Caviar Gold Products, Caviar Gold Brand manufacturers customized formulations for internationally recognized Celebrities such as Ice Cube, Jay & Silent Bob brands at this time. Currently, products are available in many states including: California, Nevada, Arizona, Colorado, Michigan and Oklahoma, with several additional states coming online in 2022.
This press release contains forward-looking statements and forward-looking information within the meaning of applicable Canadian and U.S. securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this press release contains forward looking statements and information concerning the business and operations of the Company. The forward-looking statements and information are based on certain key expectations and assumptions made by management, including expectations and assumptions concerning the Company. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information. There can be no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause the actual results and expectations to differ materially from the anticipated results or expectations expressed. These risks and uncertainties, include, but are not limited to, general economic conditions and the state of the regulatory environment. Please refer to the Company's public record on SEDAR at www.sedar.com for more details on the risks faced by the Company. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward- looking information for anything other than its intended purpose. Management of the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220411005280/en/
For additional information regarding Hempsana, please contact:
Randy Ko Director and Chief Executive Officer T: (647) 255-8849 E: randy@hempsana.ca
News Provided by Business Wire via QuoteMedia
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.
Hempsana Holdings Ltd. (the " Company " or " Hempsana ") a leader in the production and refinement of cannabinoids and Cannabis 2.0 products, is delighted to announce that it has entered into a contract manufacturing agreement with GAMA Corp (" GAMA ") to co-manufacture and distribute new products and well recognized brands from the United States to the Canadian and International Markets for both recreational and medicinal use.
Under the terms of the agreement, GAMA will leverage Hempsana's EU GMP compliant facility and its full suite of product manufacturing capabilities to support the product development of the following product categories:
"We are extremely excited to partner with GAMA Corp to deliver Contract Manufacture Operation (CMO) services as we continue to expand our manufacturing capabilities into underrepresented product categories in the cannabis space. We're especially excited about the launch of various recognized brands for the Canadian consumers and medical patients," said Randy Ko, Chief Executive Officer of Hempsana.
Combined, Hempsana and GAMA have over 195 SKUs that are currently under review with Health Canada and will be available to be purchased by Provincial Wholesalers by the beginning of summer 2022 with additional white label service offerings for LPs and brands interested in highly innovative products not yet available in the marketplace.
The Company's business involves the manufacturing of major and minor cannabinoid derivatives and producing cannabis extracts for use in finished products, including topical creams, vape pens and other infused consumables. Hempsana's Health Canada Standard Processing Licensed, and EU-GMP compliant facility provides the Company access to wholesale and retail channels in Canada and internationally. Hempsana currently offers a wide range of product formats, including topicals, tinctures, salves, vape pens which can all be fortified with major and minor cannabinoids that are all manufactured and distributed by Hempsana.
This press release contains forward-looking statements and forward-looking information within the meaning of applicable Canadian and U.S. securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this press release contains forward looking statements and information concerning the business and operations of the Company. The forward-looking statements and information are based on certain key expectations and assumptions made by management, including expectations and assumptions concerning the Company. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information. There can be no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause the actual results and expectations to differ materially from the anticipated results or expectations expressed. These risks and uncertainties, include, but are not limited to, general economic conditions and the state of the regulatory environment. Please refer to the Company's public record on SEDAR at www.sedar.com for more details on the risks faced by the Company. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward- looking information for anything other than its intended purpose. Management of the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220328005009/en/
Additional Information For additional information regarding Hempsana, please contact: Randy Ko Director and Chief Executive Officer T: (647) 255-8849 E: randy@hempsana.ca
News Provided by Business Wire via QuoteMedia
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.
Hempsana Holdings Ltd. (the " Company " or " Hempsana ") a leader in the production and refinement of cannabinoids and manufacturing of Cannabis 2.0 products, is pleased to announce a trilateral partnership with NaturalSci Regulatory Consulting Corp. and 6Pak Solutions Inc. This partnership will provide full turnkey solutions to brands and licensed producers looking to launch cannabis products to the Canadian cannabis market and help them navigate through many of the go-to-market challenges that are faced in launching products including but not limited to:
All three parties are very excited to officially announce this partnership and bring this idea to fruition. "I am very proud of my team and our fantastic partners for creating this new trilateral partnership; working together to serve the industry and expedite the growth of new brands in the Canadian market," said CEO Kyley Paul of NaturalSci Regulatory.
"6Pak is very excited about this opportunity to work with NSRC and Hempsana. It extends the scope of what we're able to offer our clientele, making the legal industry more accessible for all," said Chris Sharanewych, CEO of 6Pak Solutions.
"Although the Canadian cannabis industry is fraught with inefficiencies, the market continues to mature and this partnership really exemplifies how good partnerships such as this one can close many of the gaps in the industry and, at the same time, bring great value to our future branded partners," said Randy Ko, CEO of Hempsana.
The Company's business involves the manufacturing of major and minor cannabinoid derivatives and producing cannabis extracts for use in finished products and other infused consumables. Hempsana's Health Canada Standard Processing Licensed, and EU-GMP compliant facility provides the Company access to wholesale and retail channels in Canada and internationally. Hempsana currently offers a wide range of product formats, including cannabis concentrates, topicals, tinctures, salves, infused pre-rolls, and inhalable products which can all be fortified with major and minor cannabinoids that are all manufactured and distributed by Hempsana.
CEO Kyley Paul of NaturalSci Regulatory comes directly from industry experience having been the previous Regulatory Coordinator with Jamieson Laboratories prior to founding her company in 2015. The team has combined over 20 years experience in the NHP, cosmetic and cannabis sectors and licensed 1000's of products within all categories for brands across North America and Globally. NaturalSci Reg's core values include: Doing the Job Right the First Time and Investing in People and Relationships. We take pride in building trust with our clients and operate on relationships not transactions. We revel in providing excellence for regulatory and compliance in Cannabis and Natural Health Products industries.
6Pak Solutions Inc is a co-packing offshoot of ATG Pharma Inc, who are global leaders in automated liquid filling equipment. 6Pak uses this state-of-the-art equipment to fill, package, and label cannabis extract products. 6Pak works out of federally licensed facilities, all operators are highly trained, and equipment is GMP-compliant. 6Pak is currently able to assist with the manufacturing of vape cartridges, tinctures, and topicals. Our philosophy is to use our equipment, experience, and expertise to turn your 2.0 production from a point of stress to a point of strength.
This press release contains forward-looking statements and forward-looking information within the meaning of applicable Canadian and U.S. securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this press release contains forward looking statements and information concerning the business and operations of the Company. The forward-looking statements and information are based on certain key expectations and assumptions made by management, including expectations and assumptions concerning the Company. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information. There can be no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause the actual results and expectations to differ materially from the anticipated results or expectations expressed. These risks and uncertainties, include, but are not limited to, general economic conditions and the state of the regulatory environment. Please refer to the Company's public record on SEDAR at www.sedar.com for more details on the risks faced by the Company. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward- looking information for anything other than its intended purpose. Management of the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220321005589/en/
Additional Information For additional information regarding Hempsana, please contact:
Randy Ko Director and Chief Executive Officer T: (647) 255-8849 E: randy@hempsana.ca
News Provided by Business Wire via QuoteMedia
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.
Hempsana Holdings Ltd. (the " Company " or " Hempsana ") a leader in the production and refinement of cannabinoids and Cannabis 2.0 products, is pleased to announce that Hempsana has entered into a non-binding Letter of Intent ("LOI") with Dreamdos Therapeutics Inc.(" Dreamdos ") to supply its premium medical cannabis products. Dreamdos is applying for its license to sell, distribute and import medical cannabis products in the Barbados market. Hempsana expects to ship its medical-grade cannabis products upon Dreamdos receiving its updated licensing.
Under the terms of the agreement, Dreamdos will draw on Hempsana's full suite of product manufacturing capabilities to supply Barbados and the Carribean market with a range of cannabis tincture products. Specifically, Dreamdos intends to initially launch three cannabis tinctures in the form of a balanced THC:CBD formulation as well as THC dominant and CBD dominant cannabis tinctures.
"On the backs of obtaining our medical sales license, this global partnership expands our footprint beyond the Canadian borders. The medical patient market has been an underserved consumer segment, not just here in Canada but globally, and we are delighted to be working with Dreamdos to bring high quality medical products to the medical patients in the Caribbean region," said Randy Ko, President and CEO of Hempsana Inc.
"Dreamdos is extremely pleased to partner with Hempsana to bring quality medical products to legal markets in the Caribbean region," said William Wells, Founder of Dreamdos Therapeutics Inc. "Dreamdos' mission is to bring innovative health products to underserved patients throughout the Caribbean region. Outstanding partners like Hempsana ensure our mission is successful."
The Company's business involves the manufacturing of major and minor cannabinoid derivatives and producing cannabis extracts for use in finished products, including topical creams, vape pens and other infused consumables. Hempsana's Health Canada Standard Processing Licensed, and EU-GMP compliant facility provides the Company access to wholesale and retail channels in Canada and internationally. Hempsana currently offers a wide range of product formats, including topicals, tinctures, salves, vape pens which can all be fortified with major and minor cannabinoids that are all manufactured and distributed by Hempsana.
Operating through its Barbados hub, the company acquires and distributes medical products to wholesale and retail channels in legal markets for the Caribbean region.
This press release contains forward-looking statements and forward-looking information within the meaning of applicable Canadian and U.S. securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this press release contains forward looking statements and information concerning the business and operations of the Company. The forward-looking statements and information are based on certain key expectations and assumptions made by management, including expectations and assumptions concerning the Company. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information. There can be no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause the actual results and expectations to differ materially from the anticipated results or expectations expressed. These risks and uncertainties, include, but are not limited to, general economic conditions and the state of the regulatory environment. Please refer to the Company's public record on SEDAR at www.sedar.com for more details on the risks faced by the Company. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward- looking information for anything other than its intended purpose. Management of the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220317005630/en/
Additional Information For additional information regarding Hempsana, please contact: Randy Ko Director and Chief Executive Officer T: (647) 255-8849 E: randy@hempsana.ca
News Provided by Business Wire via QuoteMedia
The leader of a cannabis-focused software company sees the industry maturing as data brings clarity to regulators.
Metrc is a provider of cannabis regulatory systems in the US, offering a software-as-a-service program for tracking cannabis along the supply chain. CEO Michael Johnson told the Investing News Network (INN) that access to this type of data has made regulatory officials far more comfortable with the cannabis industry by giving them a clearer picture of the seed-to-sale process.
“The way to de-stigmatize the impressions associated with cannabis is really in providing the insight and the transparency into what's actually happening in the cannabis space,” he said.
Johnson explained that US state governments will pick one single tool to use for their regulatory structure.
“We're the tool that many states have selected to be able to facilitate the legal tracking and tracing of cannabis throughout their ecosystem,” Johnson said. “State contracts are really critical.”
But the company isn’t stopping at US jurisdictions. According to Johnson, Metrc aspires to create visibility for its services across the globe. The executive said Metrc has received inquiries from nations in Europe, Asia and South America.
“Our system is really a supply chain transparency platform that allows for every element of a cannabis plant lifecycle to be documented. All of the different elements that would go into producing cannabis products are documented and maintained within the tool,” Johnson commented to INN.
When asked if he expects the US to see cannabis reform at the federal level anytime soon, the CEO said things are heading in the right direction, but regulators need more assurance that safety and public health interests will be taken into account. “Sometimes we're going really fast. And sometimes we're going really slow. And sometimes we're not going anywhere at all,” he said.
Johnson believes that tracking software has helped expand regulators' level of comfort with the cannabis industry, especially those who may just be starting to become familiar with the market.
“(Cannabis is) tracked all the way through the process, including who touched it, who transported it, who ultimately bought it,” he said. "That level of visibility allows for a lot higher comfort."
This type of data is also key to combating unregulated items, which remain a problem in states where cannabis is legal. Market share for these black market products remains stable and sometimes even outmuscles offerings from regulated operators.
The same effect has taken place in Canada, the first G7 nation to legalize adult-use cannabis. One of the most clear and recent signs that Canadian operators are feeling the pressure from unregulated products is new numbers showing just how much waste the legal industry has produced.
Don’t forget to follow us @INN_Cannabis for real-time updates!
Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
Dr. Mac Burnham's team will explore Avicanna's drug candidate and its proprietary combination of cannabinoids in pre-clinical model for seizures.
Avicanna further expands its current research and commercial focus in Epilepsy which is supported by current medical cannabis sales and on-going research with UHN
Avicanna Inc. (" Avicanna " or the " Company ") (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN), a commercial stage, international biopharmaceutical company focused on the commercialization of evidence-based, cannabinoid-based products, is pleased to announce that it has expanded its research collaboration in field of Epilepsy with a new collaboration with the University of Toronto and Dr. Mac Burnham's research team to explore the efficacy of Avicanna's proprietary formulations in pre-clinical models for Epilepsy.
New research collaboration with University of Toronto
The research collaboration led by Dr. Mac Burnham's team will explore the efficacy of Avicanna's drug candidates including AVCN319302 in animal models for Epilepsy. In addition, the research collaboration will evaluate the anti-seizure properties of rare cannabinoids in isolation and in combination. Dr. Burnham is a professor emeritus of pharmacology and toxicology at the University of Toronto's Temerty Faculty of Medicine, and is a co-director of EpLink, the Ontario Brain Institute's Epilepsy Research Program. He has over 150 publications and has contributed greatly to the advancement of anti-seizure therapies.
According to Dr. Burnham, "The cannabinoids, alone and in combination, are some of the most promising antiseizure drugs that I have seen in many years of research."
Ongoing research collaboration with University Health Network
The research by Dr. Burnham's team will expand on an existing collaboration with the University Health Network and Dr. Peter Carlen, a professor of medicine and physiology at Temerty Faculty of Medicine, and senior scientist at the Toronto Western Research Institute.
The previously reported, electrophysiological studies on seizure induced wildtype cortical slices determined that Avicanna's proprietary drug candidate, AVCN319302, had significant anti-convulsant effects and demonstrated strong potential to treat patients diagnosed with intractable forms of Epilepsies and those at risk of seizure-induced Sudden Unexpected Death.
"We are excited to continue expanding our research on cannabinoids and their anti-seizure properties in the field of Epilepsy and to be doing so with leading Canadian institutions and key opinion leaders. In parallel, we are also excited by the rate of early acceptance of our medical cannabis formulation (RHO Phyto Micro Drop 50 CBD) by epilepsy patients, where such early acceptance also provides real world data and evidence. The combination of real-world evidence and ongoing research collaborations enable us to further develop our pharmaceutical pipeline and further progress our drug candidate in the field of epilepsy," noted Dr. Karolina Urban, Vice President Scientific and Medical Affairs.
Avicanna is a commercial-stage international biopharmaceutical company focused on the advancement and commercialization of evidence-based cannabinoid-based products for the global medical and pharmaceutical market segments. Avicanna has an established scientific platform including R&D and clinical development that has led to the commercialization of more than thirty products across various market segments:
Medical Cannabis & Wellness Products: Marketed under the RHO Phyto™ brand these medical and wellness products are a line of pharmaceutical-grade cannabinoid products containing varying ratios of cannabidiol ("CBD") and tetrahydrocannabinol ("THC"). The product portfolio contains a full formulary of products including oral, sublingual, topical, and transdermal deliveries that have controlled dosing, enhanced absorption and stability studies supported by pre-clinical data. The formulary is marketed with consumer, patient and medical-community education and training.
Pharmaceutical Pipeline: Leveraging Avicanna's scientific platform, vertical integration, and real-world evidence, Avicanna has created a pipeline of patent-pending drug candidates that are indication-specific and in various stages of clinical development and commercialization. These cannabinoid-based drug candidates look to address unmet medical needs in the areas of dermatology, chronic pain, and various neurological disorders. Avicanna's first pharmaceutical preparation (Trunerox™) is in the drug registration stage in South America.
Click to watch Avicanna's Corporate Video 2022
For more information about Avicanna, visit www.Avicanna.com, contact Ivana Maric by email at info@Avicanna.com or follow us on social media on LinkedIn , Twitter , Facebook or Instagram .
The Company posts updates through videos from the official Company YouTube channel.
Cautionary Note Regarding Forward-Looking Information and Statements
This news release contains "forward-looking information" within the meaning of applicable securities laws. Forward-looking information contained in this news release may be identified by the use of words such as, "may", "would", "could", "will", "likely", "expect", "anticipate", "believe, "intend", "plan", "forecast", "project", "estimate", "outlook" and other similar expressions. Forward-looking information contained in this news release includes, without limitation, statements related. Although the Company believes that the expectations and assumptions on which such forward looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information. Such risks and uncertainties include, but are not limited to, current and future market conditions, including the market price of the common shares of the Company, and the risk factors set out in the Company's annual information form dated March 31, 2022, filed with the Canadian securities regulators and available under the Company's profile on SEDAR at www.sedar.com. The statements in this news release are made as of the date of this release. The Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
News Provided by GlobeNewswire via QuoteMedia
EY: Canada's Cannabis Market Needs Changes, How Government Can Helpwww.youtube.com
A new cannabis market report from business advisory firm EY shows the Canadian industry is in desperate need of changes, including help from the government.
After years of buildup, Canada's cannabis market shows struggling signs at nearly every turn, particularly for publicly traded companies whose past excesses are catching up with them.
The Investing News Network (INN) spoke with two of the leads on the recently released report — Rami El-Cheikh, strategy partner and cannabis lead with EY-Parthenon, and Fred O’Riordan, EY’s Canada national leader of tax policy — to discuss their findings and how the report came to be.
In the report, EY outlines several ways government stakeholders could aid the cannabis industry.
Among the top takeaways is the need for updated tax policy for cannabis products. The experts want to see reductions in excise duty rates and a combined provincial and federal tax to create a “single national excise stamp.”
The report also suggests that the government adjust its rules regarding promotional materials and packaging restrictions — two factors that Canadian operators often single out as affecting their overall business models.
At the most recent Lift & Co. Expo in Toronto, several key voices in the Canadian cannabis market joined in unison to ask federal and provincial regulators to engage more willingly with the industry.
From calls for a thorough market review and lower substance restrictions, Lift Expo discussions clearly signaled the industry's dissatisfaction with the rules put in place by the federal government.
“I think the need for change has become more urgent,” Trina Fraser, a partner at the law firm Brazeau Seller, said.
“If we come together, if we present a clear, cogent case for change as a collective voice, the government is listening. And if it aligns with the government objectives, we will see changes made.”
This need for change sparked the EY report, which was commissioned by the Cannabis Council of Canada (C3), an organization looking out for the best interests of Canadian cannabis licensed producers.
In a recent interview with INN, Matt Hawkins, founder and managing principal of Entourage Effect Capital, said there is next to no interest or appetite for Canadian cannabis operators, even those listed on senior US exchanges.
“I think they are flawed business models for the most part,” he said.
This sentiment has been felt by cannabis analysts for years now. While Canadian operators got the ball rolling on legitimate investments in cannabis stocks, US operators now command most of the market's attention.
That turn has resulted in several Canadian operators struggling to raise capital, according to El-Cheikh.
While there is some level of optimism around the idea of Canadian companies readjusting their costs and finding niches to survive in, it’s clear the glory days of Canadian cannabis producers are most likely gone.
“It all comes down to just bad planning and exuberance,” Nawan Butt, portfolio manager with Purpose Investments previously told INN, referring to the amount of waste produced by Canada's cannabis companies.
Watch the interview with El-Cheikh and O’Riordan to hear about previous Canadian tax policy changes and just how dire the situation could get for the cannabis industry if some of the suggested changes don't take place.
Don’t forget to follow us @INN_Cannabis for real-time updates!
Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
Ahead of November elections in the US, a string of Democrat policy wins is sparking calls for stronger action on cannabis reform, an area where the party hasn't yet made major inroads.
Also this week, a brand partnership deal between HEXO (NASDAQ:HEXO,TSX:HEXO) and celebrity boxer Mike Tyson may be in danger. Keep reading to find out more cannabis highlights from the past five days.
According to a new report from The Hill, Democrats are raising their voices to garner support for an updated approach to cannabis following recent positive press for the party.
A group of senators recently requested that the president take more direct action on US cannabis reform.
“It’s long past time that we finally decriminalize marijuana,” Pennsylvania Lieutenant Governor John Fetterman recently said. “The president needs to use his executive authority to begin.”
President Joe Biden is enjoying a period of public favor thanks to his recent student loan forgiveness plans, alongside changes in tax policy. The pressure is on as the November midterm elections loom, but it’s unclear what Biden's agenda surrounding cannabis policy is.
Policy experts have expressed disappointment at the lack of focus from the White House when it comes to cannabis reform. Several bills have taken shape, but have either lagged or stalled during the bill-making process.
Currently, multiple financial experts and publicly traded operators are anticipating the arrival of the SAFE Banking Act, a proposed piece of legislation that would open the doors to more mature financial backing for the industry. It would also remove federal prosecution fears surrounding cannabis operations and investments.
After last week's announcement of a brand partnership in which HEXO would produce and sell products from the TYSON 2.0 cannabis brand, a new report shows provincial regulators are reacting negatively to the news.
When asked by MJBizDaily to comment, provincial cannabis sales regulators in Alberta and Quebec expressed disapproval about the potential for HEXO to sell branded products associated with the infamous boxer.
Separate in their responses, but joint in sentiment, both distributors warned against these products getting market presence in the Canadian provinces due to federal rules around celebrity partnerships.
“We will not be selling this product. Federal legislation prohibits the promotion of a cannabis product through endorsements or depiction of a person,” a spokesperson for the Alberta Gaming, Liquor & Cannabis said, according to the report.
Don't forget to follow us @INN_Cannabis for real-time updates!
Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.
A portion of every Peace edition produced will be donated to charitable organizations that help those in need
STORZ & BICKEL GmbH ("STORZ & BICKEL"), a world-leading manufacturer of high-end and medically certified cannabis vaporizers and subsidiary of Canopy Growth Corporation (TSX: WEED) (NASDAQ: CGC), today unveiled a limited-edition version of its flagship VOLCANO CLASSIC device: the PEACE VOLCANO. Constructed with the same high-quality design and technology as the original VOLCANO CLASSIC, the PEACE VOLCANO features a limited-edition cosmetic alteration with a new, fresh white exterior, symbolizing harmony and peace, and an elegant engraving that echoes the motto of a new brand campaign, "with Love, for Peace."
Only 1,000 units of the PEACE VOLCANO are being made, with each device engraved with number 1 to 1,000. As a part of the "with Love, for Peace" campaign, STORZ & BICKEL is donating 100€ per unit produced, a total of 100,000€, to charity organizations. The recipients will be different charities whose work focuses on humanitarian aid in Ukraine and support of women, children and the ones most affected by the war. More information on the charity organizations can be found at www.storz-bickel.com .
"The VOLCANO CLASSIC is an industry icon beloved by consumers, and with the debut of the PEACE VOLCANO, we hope to raise awareness for values around solidarity, respect and love during a time it feels more important than ever," said Jürgen Bickel, Founder and Managing Director, STORZ & BICKEL. "The limited-edition PEACE VOLCANO is the symbol of our "with Love for Peace" campaign, and we hope it will serve as a source of mindfulness, tranquility, peace, and love as we work together to end injustices and discrimination in all their forms against vulnerable groups."
The PEACE VOLCANO is now available for purchase while supplies last and is offered at the regular VOLCANO CLASSIC price of $479 USD .
For more information about STORZ & BICKEL and the "with Love, for Peace" campaign, please visit www.storz-bickel.com .
Canopy Growth (TSX: WEED) (NASDAQ: CGC) is a world-leading diversified cannabis and cannabinoid-based consumer product company, driven by a passion to improve lives, end prohibition, and strengthen communities by unleashing the full potential of cannabis. Leveraging consumer insights and innovation, Canopy Growth offers product varieties in high-quality dried flower, oil, softgel capsule, infused beverage, edible, and topical formats, as well as vaporizer devices by Canopy Growth and industry-leader Storz & Bickel. Canopy Growth's global medical brand, Spectrum Therapeutics, sells a range of full-spectrum products using its colour-coded classification system and is a market leader in both Canada and Germany . Through Canopy Growth's award-winning Tweed and Tokyo Smoke banners, Canopy Growth reaches its adult-use consumers and has built a loyal following by focusing on top quality products and meaningful customer relationships. Canopy Growth has entered into the health and wellness consumer space in key markets including Canada , the United States , and Europe through BioSteel sports nutrition, and This Works skin and sleep solutions; and has introduced additional hemp derived CBD products to the United States through its First & Free and Martha Stewart CBD brands. Canopy Growth has an established partnership with Fortune 500 alcohol leader Constellation Brands.
View original content to download multimedia: https://www.prnewswire.com/news-releases/storz--bickel-debuts-with-love-for-peace-limited-edition-volcano-classic-301620526.html
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/September2022/08/c7778.html
News Provided by Canada Newswire via QuoteMedia
Cannabis Market Still Tough, Time to Position Before Regulatory Changeswww.youtube.com
The going has been tough for cannabis investments in 2022, and one prominent investor is warning market participants not to get their hopes up just yet for policy changes in the US.
Matt Hawkins, founder and managing principal of Entourage Effect Capital, told the Investing News Network he is eagerly awaiting much-needed US policy changes that will help the industry flourish beyond its promising start.
But Hawkins is not expecting anything this year.
When asked about potential cannabis market catalysts before the end of 2022, Hawkins was direct.
“I don’t see anything unless we get lucky and the SAFE Banking Act passes before the midterm elections,” he said.
That said, the fund manager emphasized that despite the challenges, it’s not all doom and gloom in the cannabis sector. For one thing, politicians will ultimately have to listen to their constituents, Hawkins said — in his opinion, that means support for cannabis policy will only grow stronger.
For now, investors will have to be ready for the current period of status quo to continue. Hawkins noted that his firm is trying to use this time to be ready for eventual regulatory changes.
“We’re just trying to position ourselves to benefit from that in two to four or five years from now,” he said.
Watch the entirety of the conversation with Hawkins above to hear his perspective on the potential of Canadian operators and what his day-to-day looks like.
Don’t forget to follow us @INN_Cannabis for real-time updates!
Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.