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Updated: 4 hours 52 min ago

LiveWire Ergogenics Signs Letter of Intent to Acquire Interest in California Licensed Cannabis Manufacturer Mojave Jane, LLC.

5 hours 29 min ago

Anaheim, CA, May 02, 2018 (GLOBE NEWSWIRE) -- LiveWire Ergogenics, Inc. (OTC: LVVV), a company focused on special purpose real estate acquisitions, the licensing and management of fully compliant turnkey production facilities for cannabis-based products announced today that it has signed a Letter of Intent with Mojave Jane, LLC, a licensed and legal manufacturer of premium cannabis extracts and concentrates for the California market. 

According to the LOI, LiveWire Ergogenics, through its wholly owned subsidiary GHC Ventures, has been granted rights as the Master Distributor for all Mojave Jane products. LiveWire will also acquire a minority equity interest in Mojave Jane in an all-stock transaction and be granted a seat on the company’s Advisory Board. Livewire has agreed to a 12-month option to acquire 100% of Mojave Jane, LLC.

“This Master Distributorship for Mojave Jane’s entire product line will allow LiveWire to generate significant top line revenue for the companies,” states LiveWire CEO Bill Hodson. “Acting as the Master Distributor will allow the two corporate teams to get well acquainted with each other and provide both parties with the opportunity to conduct thorough due diligence to enter into a final agreement.”

Gary Latham, one of the Managing Members of Mojave Jane adds, "LiveWire Ergogenics has assembled an impressive team of experts and is executing on a solid strategy and plan.  We believe that LiveWire is on the path to be a market leader and is a great platform for market penetration and sales in the legal cannabis market. We are very excited to partner with LiveWire and drive value to all of our respective businesses.”

About Mojave Jane
Mojave Jane, LLC is a licensed and legal manufacturer of premium cannabis extracts and concentrates for the California market.  Based in Coachella, CA, Mojave Jane utilizes state of the art CO2 extraction technologies, organic and pesticide free materials and advanced distillation techniques to create an array of products for both recreational and medical cannabis users.    

About LiveWire Ergogenics, Inc.
LiveWire Ergogenics, Inc. (LVVV) specializes in identifying and monetizing current and future trends in the health and wellness industry. The Company is focused on acquiring and licensing specialized turnkey cannabis real estate locations and establishing research partnerships to explore the application of cannabinoid-based products to target specific ailments or conditions with large “sufferer” populations for human and veterinarian applications. This includes the cloning of cannabis strains to produce positive medicinal results, dosing verification of zero pesticide products for quality brands via its “7X Pure” Cannabis Dosing and Verification System, and development and licensing of high-quality cannabinoid-based products and services. The team at LiveWire Ergogenics has a passion for research and is committed to generating and implementing innovative ideas and producing high-quality and fully compliant products that satisfy an increasing demand in this fast-growing industry.

For more information about LiveWire Ergogenics, visit http://www.livewireergogenics.com. For non-material updates, follow LiveWire Ergogenics on Twitter @livewireLVVV. Download the Stockwatchindex Research Report at http://www.swiresearch.com/report-index

Forward-Looking Statements
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. Forward-looking statements may include, without limitation, financial projections, statements regarding the plans and objectives of management for future operations, the development, regulatory approvals and commercialization of the Company’s products, or any of the Company’s other proposed products, systems or services. Such forward-looking statements are not meant to predict or guarantee actual results and performance, events or circumstances and actual events may differ considerably. Factors that may cause actual results to differ materially from any projections may include, without limitation, the Company’s inability to obtain additional financing, delays in the development of its products, the impact of significant new or changing government regulation in the cannabis industry, existing or increased competition, results of arbitration and litigation, stock volatility and illiquidity, and the Company’s failure to implement the Company’s business plans or strategies. The Company assumes no obligation to update any forward-looking statements to reflect any event or circumstance that may arise after the date of this release.

CONTACT: INVESTOR CONTACT EquiNet, LLC Toll free: 877-964-6463 Direct: 858-264-6500 LIVEWIRE ERGOGENICS INC. 1600 North Kraemer Blvd. Anaheim, CA 92806 714-740-5144 www.livewireergogenics.com info@livewireergogenics.com MARKET AWARENESS Stockwatchindex, LLC www.stockwatchindex.com info@stockwatchindex.com

Categories: State

CROP Infrastructure Closes Private Placement & Appoints Director

5 hours 29 min ago

VANCOUVER, British Columbia, May 02, 2018 (GLOBE NEWSWIRE) -- CROP Infrastructure Corp. (the “Company”) (CSE:CROP) (OTC:CIICF) announces that it has closed the previously announced non-brokered private placement for gross proceeds of $4,349,270.  (See news release dated April 6, 2018) by issuance of an aggregate of 10,873,175 units. Each $0.40 unit consists of one common share ("Common Shares") of CROP and one half of one common share purchase warrant (“Warrant”) where each whole Warrant entitles the holder to purchase one additional common share (“Warrant Share”) at an exercise price of $0.55 per Warrant Share for a period of eighteen months following the date of issuance.

The company paid $11,450 in commissions in conjunction with the financing and has issued 26,250 broker warrants exercisable on the same terms as the warrant issued in the financing.

The company has also settled $340,700 of debt in shares at $0.40.

Further the company announces it has appointed Ms. Twila Jensen to the board of directors.

Ms. Jensen is a Senior Capital Markets Strategist with Stockhouse.com, Canada's leading financial community and a global hub for affluent investors, with over one million unique monthly visitors. Ms. Jensen also acts as an Independent Director for two other TSX Venture Exchange listed companies, Durango Resources Corp. and BTU Metals Corp. Ms. Jensen has over 18 years of experience working in the capital markets within sales and marketing roles, as an independent director and also part of audit committees. She has worked with hundreds of public companies across North America in various sectors over the last two decades. 

About CROP Infrastructure Corp.

CROP Infrastructure is engaged in the business of branding, investing, constructing, owning and leasing turnkey greenhouse projects to licensed cannabis producers and processors.   The company’s first project and core asset is its Greenhouse project currently under construction in the State of Washington.

For further information, please contact:

CROP Infrastructure Corp.
Alex Horsley, Director
Tel: 604-484-4206
E-mail: info@cropcorp.com

The securities of the Company are considered highly speculative due to the nature of the Company’s business. The Company is indirectly involved through its business in both the medical and recreational cannabis industry in the United State where local state law permits such activities. As a result of the conflicting views between state legislatures and the federal government regarding cannabis, investments in cannabis businesses in the United States are subject to inconsistent legislation and regulation and therefore there are risks of federal government enforcement. Marijuana-related practices or activities, including the cultivation, possession or distribution of marijuana, are illegal under U.S. federal law.

Forward-Looking Statements

Certain statements in this release are forward-looking statements, which include regulatory approvals, the business of the Company and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. Forward-looking statement are necessarily based upon a number of factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements express or implied by such statements.
The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.

Categories: State

What is a Recreational Cannabis Brand Worth in Canada? -- CFN Media

5 hours 29 min ago

SEATTLE, May 02, 2018 (GLOBE NEWSWIRE) -- CFN Media Group (“CFN Media”), the leading agency and financial media network dedicated to the North American cannabis industry, announces publication of an article covering the emerging recreational cannabis market in Canada, recent investments and acquisitions in adult-use brands, and Choom Holdings Inc.'s (CSE:CHOO) (CNSX:CHOO) (CHOO.CN) (OTCQB:CHOOF) position ahead of full legalization in the country.

Recent investments, partnerships and acquisitions in the Canadian cannabis industry highlight the importance of recreational branding as the country transitions focus from medical marijuana to adult-use, recreational cannabis. The marketing of recreational products to a mass audience differs significantly from the marketing of medical products to a narrower audience, and an examination of investments in the space can serve to put a perceived value on brands that are focused on the mass market.

Choom Holdings is a company that started with one specific goal in mind - develop a brand that would have broad appeal in the nascent Canadian recreational cannabis industry. Choom is a local Hawaiian term for smoking marijuana, and the company aims to bring the spirit of relaxed good times from the islands straight to the Canadian cannabis consumer’s door.

Follow the link to get Choom’s corporate presentation and company updates.

Recent Deals

Shortly on the heels of announcing a supply agreement between the two companies, Emblem Corp. announced that it was acquiring an interest in Fire & Flower. Fire & Flower is a corporately-owned retail cannabis lifestyle brand and store concept, and it has announced its application for 37 retail licenses in Alberta. The company is also contemplating retail efforts in British Columbia, Saskatchewan and the Atlantic provinces, though nothing official has been announced.

Determining the value of Fire & Flower is a little bit tricky, but according to a recent press release from TerrAscend Corp., its C$2.5 million investment amounts to about 5% of the outstanding Fire & Flower shares. Simple math puts the value at about $50 million for the company, with a retail concept and a number of applications on its books.

Hiku Brands is another interesting story. The company was very recently formed through the merger of DOJA Cannabis, a smaller licensed producer, and Tokyo Smoke, a cannabis-oriented retailer of coffee, clothing and accessories in British Columbia, Alberta, and Ontario. In a recently-announced deal, Hiku is merging with WeedMD to combine the retail company with the more-established medical marijuana producer.

In the end, should the deal pass muster with shareholders and regulators, Hiku shareholders will own about 51.75% of the company and WeedMD holders about 48.25%. This means that the companies are on nearly equal footing, perhaps a surprising development for the merger between the more established medical licensed producer and the smaller producer/retail concept company. The companies currently feature market caps of approximately $178 million for WeedMD and about $195 million for Hiku.

There are also deals like Aphria’s acquisition of Broken Coast Cannabis for $230 million to consider, and Supreme Pharma’s purchase of a 10% stake in BlissCo. But you get the picture. Licensed producers are putting tremendous resources into retail brands and companies in often very early stages of development.

Follow the link to get Choom’s corporate presentation and company updates.

Choom’s Place in the Market

Choom™ emerged in the public markets in late 2017, formed with the intent of developing a great brand focused exclusively on the recreational cannabis consumer. Management was reading the tea leaves, and the company is one of the very few recreational pure-play public entities. It also has a relatively impressive list of assets and accomplishments as it builds a dedicated recreational cannabis company, vertically integrated from seed through retail sales.

Choom owns two late stage licensed producer applicants, both based in British Columbia. It also has agreements in place, pending details, to acquire two more late stage applicants, one in BC and one based in Saskatchewan. All of these applications are anticipated to be approved in the near term. To hedge against delays in ramping up its own production, Choom has a supply agreement in place with ABcann. The Ontario-based producer also chipped in $4 million in Choom’s recent $7 million raise.

Choom has announced plans for retail applications and locations throughout Saskatchewan, Alberta, and British Columbia, totalling 48 potential retail outlets to this point. The company is also eyeing further opportunities further east in Canada, but has been initially focused on covering the three westernmost provinces, accounting for about 27% of the country’s population.

With a current market cap in the neighborhood of $60 million, it could be argued that Choom is undervalued when compared with the recent investments in the retail brand space. That argument would only grow more convincing should any of the company’s four applicants advance through the next phases of licensing. Similarly, should Choom receive approval for its planned retail outlets, the company could look like a bargain compared to some of its retail-hopeful brethren. All of the above bears watching.

Please follow the link to read the full article: http://www.cannabisfn.com/recreational-cannabis-brand-worth-canada/

About CFN Media

CFN Media (CannabisFN) is the leading agency and financial media network dedicated to the global cannabis industry, helps companies operating in the space attract investors, capital, and publicity. Since 2013, private and public cannabis companies in the US and Canada have relied on CFN Media to grow and succeed.

Learn how to become a CFN Media client company, brand or entrepreneur: http://www.cannabisfn.com/featuredcompany

Download the CFN Media iOS mobile app to access the world of cannabis from the palm of your hand: https://itunes.apple.com/us/app/cannabisfn/id988009247?ls=1&mt=8

Or visit our homepage and enter your mobile number under the Apple App Store logo to receive a download link text on your iPhone: http://www.cannabisfn.com

Disclaimer

CannabisFN.com is not an independent financial investment advisor or broker-dealer. You should always consult with your own independent legal, tax, and/or investment professionals before making any investment decisions. The information provided on http://www.cannabisfn.com (the ‘Site’) is either original financial news or paid advertisements drafted by our in-house team or provided by an affiliate. CannabisFN.com, a financial news media and marketing firm enters into media buys or service agreements with the companies that are the subject of the articles posted on the Site or other editorials for advertising such companies.  We are not an independent news media provider. We make no warranty or representation about the information including its completeness, accuracy, truthfulness or reliability and we disclaim, expressly and implicitly, all warranties of any kind, including whether the Information is complete, accurate, truthful, or reliable. As such, your use of the information is at your own risk. Nor do we undertake any obligation to update the items posted. CannabisFN.com received compensation for producing and presenting high quality and sophisticated content on CannabisFN.com along with financial and corporate news.  

The above article is sponsored content. Emerging Growth LLC, which owns CannabisFN.com and CFN Media, has been hired to create awareness. Please follow the link below to view our full disclosure outlining our compensation: http://www.cannabisfn.com/legal-disclaimer/

CFN Media
Frank Lane
206-369-7050
flane@cannabisfn.com

Categories: State

Malibu Boats, Inc. Announces Third Quarter Fiscal 2018 Results

7 hours 29 min ago

LOUDON, Tenn., May 02, 2018 (GLOBE NEWSWIRE) -- Malibu Boats, Inc. (Nasdaq:MBUU) today announced its financial results for the third quarter of fiscal 2018 ended March 31, 2018.

Highlights for the Third Quarter of Fiscal 2018

  • Net sales increased 82.0% to $140.4 million compared to the third quarter of fiscal 2017.
  • Unit volume increased 69.4% to 1,786 boats compared to the third quarter of fiscal 2017.
  • Net sales per unit increased 7.4% to $78,628 and net sales per unit for Malibu U.S. increased 6.2% to $77,260 compared to the third quarter of fiscal 2017.
  • Gross profit increased 70.2% to $36.4 million compared to the third quarter of fiscal 2017.
  • Net income increased 89.9% to $16.8 million, or $0.76 per share compared to the third quarter of fiscal 2017.
  • Adjusted EBITDA increased 70.1% to $28.5 million compared to the third quarter of fiscal 2017.
  • Adjusted fully distributed net income increased 105.1% to $19.4 million compared to the third quarter of fiscal 2017.
  • Adjusted fully distributed net income per share increased 81.6% to $0.89 on a fully distributed weighted average share count of 21.8 million shares of Class A Common Stock as compared to the third quarter of fiscal 2017.

"The results of the third quarter were strong. This performance continues to be driven by robust retail demand in the United States along with Malibu’s operating efficiencies. Channel inventories are at or near optimum levels, which is inspiring dealer confidence despite unfavorable weather during the early spring selling season. In addition, our model year 2018 products are performing very well, including our new Cobalt models. On the international front, Canada continues its slow recovery, while Australia, our second largest market, remains a contributor. Lastly, market share gains are accelerating for both Malibu and Cobalt, where we already hold a commanding lead,” commented Jack Springer, Chief Executive Officer of Malibu Boats. “From an operational perspective, the Cobalt integration is going smoothly, and the Cobalt team is immersing itself into our culture. Further, our operational excellence initiatives continue to drive improvement at Malibu and it is having a quicker and better impact with the Cobalt integration than originally anticipated.

Mr. Springer concluded, "We are executing very well, and as we march towards the end of the fiscal year, macro indicators suggest that the market for our products will stay strong. We remain very well-positioned to generate solid sales growth, improved profitability, and to deliver value to our shareholders.”

Results of Operations for the Third Quarter of Fiscal 2018

   Three Months Ended March 31, Nine Months Ended March 31,  2018   2017   2018   2017  (In thousands, except unit and per unit data)Net sales$140,429  $77,149  $358,343  $206,831 Cost of sales 104,066   55,787   271,541   151,833 Gross profit 36,363   21,362   86,802   54,998 Operating expenses:       Selling and marketing 3,263   1,789   9,974   6,362 General and administrative 7,862   5,997   22,371   15,514 Amortization 1,291   550   3,903   1,649 Operating income 23,947   13,026   50,554   31,473 Other (expense) income, net:       Other income 17   41   27,753   116 Interest expense (923)  (416)  (4136)  (883)Other (expense) income, net (906)  (375)  23,617   (767)Income before provision for income taxes 23,041   12,651   74,171   30,706 Provision for income taxes 6,245   3,805   56,545   9,897 Net income 16,796   8,846   17,626   20,809 Net income attributable to non-controlling       interest 1,124   833   2,452   2,115 Net income attributable to Malibu Boats, Inc.$15,672  $8,013  $15,174  $18,694                 Unit volumes 1,786   1,054   4,584   2,811 Net sales per unit$78,628  $73,196  $78,173  $73,579    

Comparison of the Third Quarter Ended March 31, 2018 to the Third Quarter Ended March 31, 2017

Net sales for the three months ended March 31, 2018 increased $63.3 million, or 82.0%, to $140.4 million as compared to the three months ended March 31, 2017. Unit volume for the three months ended March 31, 2018, increased 732 units, or 69.4%, to 1,786 units as compared to the three months ended March 31, 2017. The increase in net sales and unit volumes was driven primarily by our acquisition of Cobalt Boats, LLC ("Cobalt") in July 2017. Net sales and unit volumes attributable to Cobalt were $49.9 million and 615 units, respectively, for the three months ended March 31, 2018. Net sales attributable to our Malibu U.S. segment increased $14.0 million, or 19.6%, to $85.7 million for the three months ended March 31, 2018, compared to the three months ended March 31, 2017. Unit volumes attributable to our Malibu U.S. segment increased 124 units for the three months ended March 31, 2018, compared to the three months ended March 31, 2017. The increase in net sales and unit volume for Malibu U.S. was driven primarily by continued strong demand for our new and larger models such as the Malibu Wakesetter 23 LSV and Axis A24. Net sales from our Malibu Australia segment decreased $0.7 million, or 12.1%, to $4.8 million for the three months ended March 31, 2018, compared to the three months ended March 31, 2017. Our overall net sales per unit increased 7.4% to $78,628 per unit for the three months ended March 31, 2018, compared to the three months ended March 31, 2017. Net sales per unit for our Malibu U.S. segment increased 6.2% to $77,260 per unit for the three months ended March 31, 2018, compared to the three months ended March 31, 2017, driven by mix of larger premium Malibu models which have a higher average selling price per unit as well as strong demand for optional features and year over year price increases. Net sales per unit for our Cobalt segment was $81,174 per unit for the three months ended March 31, 2018.

Cost of sales for the three months ended March 31, 2018 increased $48.3 million, or 86.5%, to $104.1 million as compared to the three months ended March 31, 2017. The increase in cost of sales was driven primarily by our acquisition of Cobalt in July 2017 and an increase in unit volumes at our Malibu U.S. business.

Gross profit for the three months ended March 31, 2018 increased $15.0 million, or 70.2%, to $36.4 million compared to the three months ended March 31, 2017. The increase in gross profit was due mainly to higher unit volumes attributable to our acquisition of Cobalt. Gross margin for the three months ended March 31, 2018 decreased 180 basis points from 27.7% to 25.9% over the same period in the prior fiscal year due to the acquisition of Cobalt and an increase in unit volumes at our Malibu U.S. business.

Selling and marketing expenses for the three month period ended March 31, 2018, increased $1.5 million or 82.4%, compared to the three months ended March 31, 2017 primarily due to the acquisition of Cobalt. As a percentage of sales, selling and marketing expenses were flat over the same period in the prior fiscal year. General and administrative expenses for the three months ended March 31, 2018 increased $1.9 million, or 31.1%, to $7.9 million as compared to the three months ended March 31, 2017, largely due to higher general and administrative expenses attributable to Cobalt, which we acquired in July 2017, and higher development costs associated with our engines vertical integration initiative, and partially offset by lower legal expenses related to previously settled litigation in fiscal 2017. As a percentage of sales, general and administrative expenses decreased 220 basis points to 5.6% for the three months ended March 31, 2018 compared to the three months ended March 31, 2017. Amortization expense for the three month period ended March 31, 2018, increased $0.7 million or 134.7% when compared to the three months ended March 31, 2017, due to additional amortization from intangible assets acquired as a result of the Cobalt acquisition.

Operating income for the third quarter of fiscal 2018 increased to $23.9 million from $13.0 million in the third quarter of fiscal 2017. Net income for the third quarter of fiscal 2018 increased 89.9% to $16.8 million from $8.8 million and net income margin increased to 12.0% from 11.5% in the third quarter of fiscal 2017. Adjusted EBITDA in the third quarter of fiscal 2018 increased 70.1% to $28.5 million from $16.8 million, while Adjusted EBITDA margin decreased to 20.3% from 21.8% in the third quarter of fiscal 2017.

Webcast and Conference Call Information

The Company will host a webcast and conference call to discuss third quarter fiscal 2018 results on Wednesday, May 2, 2018, at 8:30 a.m. Eastern Time. Investors and analysts can participate on the conference call by dialing (855) 433-0928 or (484) 756-4263 and using Conference ID #5085245.

Alternatively, interested parties can listen to a live webcast of the conference call by logging on to the Investor Relations section on the Company’s website at http://investors.malibuboats.com. A replay of the webcast will also be archived on the Company’s website for twelve months.

About Malibu Boats, Inc.

Based in Loudon, Tennessee, Malibu Boats is a leading designer, manufacturer and marketer of a diverse range of recreational powerboats, including performance sport boats, sterndrive and outboard boats. Malibu Boats has the #1 market share position in the United States in the performance sport boat category through its Malibu and Axis Wake Research brands. After Malibu Boats’ recent acquisition of Cobalt Boats, LLC, Malibu Boats has the #1 market share position in the United States in the 24’ - 29’ segment of the sterndrive category. Since inception in 1982, Malibu Boats has been a consistent innovator in the powerboat industry, designing products that appeal to an expanding range of recreational boaters and water sports enthusiasts whose passion for boating and water sports is a key aspect of their lifestyle.

Forward Looking Statements

This press release includes forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Forward-looking statements can be identified by such words and phrases as “believes,” “anticipates,” “expects,” “intends,” “estimates,” “may,” “will,” “should,” “continue” and similar expressions, comparable terminology or the negative thereof, and includes the statement in this press release regarding our expected growth and demand for our products, the expected performance of Cobalt and the expected continuing performance of the U.S. market.

Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, including, but not limited to: the impact of the Tax Cuts and Jobs Act of 2017 (the "Tax Act"); the successful integration of Cobalt into our business; general industry, economic and business conditions; demand for our products; changes in consumer preferences; competition within our industry; our reliance on our network of independent dealers; our ability to manage our manufacturing levels and our large fixed cost base; the successful introduction of our new products; the success of our engines integration strategy and other factors affecting us detailed from time to time in our filings with the Securities and Exchange Commission. Many of these risks and uncertainties are outside our control, and there may be other risks and uncertainties which we do not currently anticipate because they relate to events and depend on circumstances that may or may not occur in the future. Although we believe that the expectations reflected in any forward-looking statements are based on reasonable assumptions at the time made, we can give no assurance that our expectations will be achieved. Undue reliance should not be placed on these forward-looking statements, which speak only as of the date hereof. We undertake no obligation (and we expressly disclaim any obligation) to update or supplement any forward-looking statements that may become untrue because of subsequent events, whether because of new information, future events, changes in assumptions or otherwise. Comparison of results for current and prior periods are not intended to express any future trends or indications of future performance, unless expressed as such, and should only be viewed as historical data.

Use and Definition of Non-GAAP Financial Measures

This release includes the following financial measures defined as non-GAAP financial measures by the SEC: Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Fully Distributed Net Income and Adjusted Fully Distributed Net Income per Share. These measures have limitations as analytical tools and should not be considered as an alternative to, or more meaningful than, net income as determined in accordance with GAAP or as an indicator of our liquidity. Our presentation of these non-GAAP financial measures should also not be construed as an inference that our results will be unaffected by unusual or non-recurring items. Our computations of these non- GAAP financial measures may not be comparable to other similarly titled measures of other companies.

We define Adjusted EBITDA as net income before interest expense, income taxes, depreciation, amortization and non-cash, non-recurring or non-operating expenses, including certain professional fees, acquisition and integration related expenses, non-cash compensation expense, expenses related to our engine development initiative and adjustments to our tax receivable agreement liability. We define Adjusted EBITDA Margin as Adjusted EBITDA divided by net sales. Adjusted EBITDA and Adjusted EBITDA Margin are not measures of net income as determined by GAAP. Management believes Adjusted EBITDA and Adjusted EBITDA Margin allow investors to evaluate our operating performance and compare our results of operations from period to period on a consistent basis by excluding items that management does not believe are indicative of core operating performance. Management uses Adjusted EBITDA to assist in highlighting trends in our operating results without regard to our financing methods, capital structures, and non-recurring or non-operating expenses. We exclude the items listed above from net income in arriving at Adjusted EBITDA because these amounts can vary substantially from company to company within our industry depending upon accounting methods and book values of assets, capital structures, the methods by which assets were acquired and other factors.

Certain items excluded from Adjusted EBITDA are significant components in understanding and assessing a company’s financial performance, such as a company’s cost of capital and tax structure, as well as the historical costs of depreciable assets.

We define Adjusted Fully Distributed Net Income as net income attributable to Malibu Boats, Inc. (i) excluding income tax expense, (ii) excluding the effect of non-recurring or non-cash items, (iii) assuming the exchange of all LLC units into shares of Class A Common Stock, which results in the elimination of non-controlling interest in Malibu Boats Holdings, LLC (the "LLC"), and (iv) reflecting an adjustment for income tax expense on fully distributed net income before income taxes at our estimated effective income tax rate. Adjusted Fully Distributed Net Income is a non-GAAP financial measure because it represents net income attributable to Malibu Boats, Inc., before non-recurring or non-cash items and the effects of non-controlling interests in the LLC. We use Adjusted Fully Distributed Net Income to facilitate a comparison of our operating performance on a consistent basis from period to period that, when viewed in combination with our results prepared in accordance with GAAP, provides a more complete understanding of factors and trends affecting our business than GAAP measures alone. We believe Adjusted Fully Distributed Net Income assists our board of directors, management and investors in comparing our net income on a consistent basis from period to period because it removes non-cash or non-recurring items, and eliminates the variability of non-controlling interest as a result of member owner exchanges of LLC units into shares of Class A Common Stock. In addition, because Adjusted Fully Distributed Net Income is susceptible to varying calculations, the Adjusted Fully Distributed Net Income measures, as presented in this release, may differ from and may, therefore, not be comparable to similarly titled measures used by other companies.

A reconciliation of our net income as determined in accordance with GAAP to Adjusted EBITDA and Adjusted EBITDA Margin, and of our net income attributable to Malibu Boats, Inc. to Adjusted Fully Distributed Net Income is provided under "Reconciliation of Non-GAAP Financial Measures".

Investor Contacts

Malibu Boats, Inc.
Wayne Wilson
Chief Financial Officer (865) 458-5478

Zac Lemons Investor Relations (865) 458-5478
InvestorRelations@MalibuBoats.com

MALIBU BOATS, INC. AND SUBSIDIARIES Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited)(In thousands, except share and per share data)    Three Months Ended March 31, Nine Months Ended March 31,  2018   2017   2018   2017 Net sales $140,429  $77,149  $358,343  $206,831 Cost of sales  104,066   55,787   271,541   151,833 Gross profit  36,363   21,362   86,802   54,998 Operating expenses:        Selling and marketing  3,263   1,789   9,974   6,362 General and administrative  7,862   5,997   22,371   15,514 Amortization  1,291   550   3,903   1,649 Operating income  23,947   13,026   50,554   31,473 Other (expense) income, net:        Other income  17   41   27,753   116 Interest expense  (923)  (416)  (4,136)  (883)Other (expense) income, net  (906)  (375)  23617   (767)Income before provision for income taxes  23,041   12,651   74,171   30,706 Provision for income taxes  6,245   3,805   56,545   9,897 Net income  16,796   8,846   17,626   20,809 Net income attributable to non-controlling interest  1,124   833   2,452   2,115 Net income attributable to Malibu Boats, Inc. $15,672  $8,013  $15,174  $18,694          Comprehensive income:        Net income $16,796  $8,846  $17,626  $20,809 Other comprehensive (loss) income, net of tax:        Change in cumulative translation adjustment  (268)  867   (34)  378 Other comprehensive (loss) income, net of tax  (268)  867   (34)  378 Comprehensive income, net of tax  16,528   9,713   17,592   21,187 Less: comprehensive income attributable to non-        controlling interest, net of tax  1,104   923   2,464   2,153 Comprehensive income attributable to Malibu Boats, Inc., net of tax $15,424  $8,790  $15,128  $19,034                  Weighted average shares outstanding used in computing net income per share: Basic  20,544,488   17,877,152   20,050,958   17,799,221 Diluted  20,657,010   17,962,286   20,135,064   17,887,266 Net income available to Class A Common Stock per share:Basic $0.76  $0.45  $0.76  $1.05 Diluted $0.76  $0.45  $0.76  $1.05 


MALIBU BOATS, INC. AND SUBSIDIARIES Condensed Consolidated Balance Sheets (Unaudited)(In thousands, except share data)    March 31, 2018 June 30, 2017Assets  Current assets  Cash$53,156  $32,822 Trade receivables, net 22,553   9,846 Inventories, net 43,761   23,835 Prepaid expenses and other current assets 4,448   2,470 Income tax receivable 136   1,111 Total current assets 124,054   70,084 Property, plant and equipment, net 40,741   24,123 Goodwill 32,478   12,692 Other intangible assets, net 95,598   9,597 Deferred tax asset 61,275   107,088 Other assetS 420   79 Total assets$354,566  $223,663 Liabilities       Current liabilitiesAccounts payable$26,142  $12,722 Accrued expenses 33,001   21,616 Income taxes and tax distribution payable 2,748   515 Payable pursuant to tax receivable agreement, current portion 4,323   4,332 Total current liabilities 66,214   39,185 Deferred tax liabilities 442   552 Payable pursuant to tax receivable agreement 51,750   77,959 Long-term debt 108,393   53,403 Other long-term liabilities 668   328 Total liabilities 227,467   171,427 Stockholders' Equity   Class A Common Stock, par value $0.01 per share, 100,000,000 shares authorized; 20,524,654 shares issued and outstanding as of March 31, 2018; 17,937,687 issued and outstanding as of June 30, 2017 204   179 Class B Common Stock, par value $0.01 per share, 25,000,000 shares authorized; 17 shares issued and outstanding as of March 31, 2018; 19 shares issued and outstanding as of June 30, 2017    —   — Preferred Stock, par value $0.01 per share; 25,000,000 shares authorized; no shares issued and outstanding as of March 31, 2018 and June 30, 2017 —   — Additional paid in capital 1 107,692   48,328 Accumulated other comprehensive loss (1,397)  (1,363)Accumulated earnings 15,350   151 Total stockholders' equity attributable to Malibu Boats, Inc. 121,849   47,295 Non-controlling interest 1 5,250   4,941 Total stockholders’ equity 127,099   52,236 Total liabilities and stockholders' equity$354,566  $223,663         

1 During the second quarter of fiscal 2018, the Company identified and corrected an error for the fiscal year ended June 30, 2017, related to an understatement of the non-controlling interest held by LLC Unit holders in the LLC of $1,869, an overstatement to accumulated other comprehensive loss of $639, and an overstatement of additional paid in capital of $2,508, within stockholders' equity on the unaudited condensed consolidated balance sheet and within the statement of stockholders' equity. There was no change in total stockholders’ equity for the fiscal year ended June 30, 2017. The Company evaluated the materiality of the error from quantitative and qualitative perspectives, and concluded that the error was immaterial to the Company’s prior period interim and annual consolidated financial statements under FASB ASC Topic 250, Accounting Changes and Error Corrections. Since the revision was not material to any prior period interim or annual consolidated financial statements, no amendments to previously filed interim or annual periodic reports are required. Consequently, the Company revised the historical consolidated financial information presented herein and will reflect the same revisions in its forthcoming fiscal 2018 Form 10-K.

MALIBU BOATS, INC. AND SUBSIDIARIES

Reconciliation of Non-GAAP Financial Measures

Reconciliation of Net Income to Non-GAAP Adjusted EBITDA and Adjusted EBITDA Margin (Unaudited):

The following table sets forth a reconciliation of net income as determined in accordance with GAAP to Adjusted EBITDA and Adjusted EBITDA Margin for the periods indicated (dollars in thousands):

 Three Months Ended March 31, Nine Months Ended March 31,  2018   2017   2018   2017 Net income$16,796  $8,846  $17,626  $20,809 Provision for income taxes 1 6,245   3,805   56,545   9,897 Interest expense 923   416   4,136   883 Depreciation 1,685   1,050   5,102   3,044 Amortization 1,291   550   3,903   1,649 Professional fees 2 —   1,159   26   3,145 Marine Power litigation judgment 3 —   —   —   (1,330)Acquisition and integration related expenses 4 144   —   2,281   — Stock-based compensation expense 5 560   325   1,410   1,070 Engine development 6 899   630   3,486   1,090 Adjustments to tax receivable agreement 7 —   —   (27,702)  — Adjusted EBITDA$28,543  $16,781  $66,813  $40,257 Adjusted EBITDA margin 20.3%  21.8%  18.6%  19.5% 

(1)  Provision for income taxes for the three and nine months ended March 31, 2018 reflects the impact of the Tax Act adopted in December 2017, which among other items, lowered the U.S. corporate income tax rate from 35% to 21%, effective January 1, 2018. For the nine months ended March 31, 2018, we recorded a non-cash provisional adjustment to income tax expense of $47.2 million for the remeasurement of deferred taxes on the enactment date and the deferred tax impact related to the reduction in the tax receivables agreement liability.
(2)  For the nine months ended March 31, 2018 and three and nine months ended March 31, 2017, represents legal and advisory fees related to our litigation with MasterCraft Boat Company, LLC ("MasterCraft") which was settled in May 2017.
(3)  Represents the reduction in a one-time charge related to a judgment rendered against us in connection with a lawsuit by Marine Power where the court amended the judgment to $1.9 million.
(4)  Represents legal and advisory fees as well as integration related costs incurred in connection with our acquisition of Cobalt. Integration related expenses for the nine months ended March 31, 2018 include post-acquisition adjustments to cost of goods sold of $1.5 million for the fair value step up of inventory acquired, most of which was sold during the first quarter of fiscal 2018.
(5)  Represents equity-based incentives awarded to key employees under the Malibu Boats, Inc. Long-Term Incentive Plan and profit interests issued under the previously existing limited liability company agreement of the LLC.
(6)  Represents costs incurred in connection with our vertical integration of engines including product development costs and supplier transition performance incentives.
(7)  For the nine months ended March 31, 2018, we recognized other income as a result of a decrease in our estimated tax receivable agreement liability. The reduction in our tax receivable agreement liability resulted from the adoption of the Tax Act, which decreased the estimated tax rate used in computing our future tax obligations and, in turn, decreased the future tax benefit we expect to realize related to increased tax basis from previous sales and exchanges of LLC Units by our pre-IPO owners.

Reconciliation of Non-GAAP Adjusted Fully Distributed Net Income (Unaudited):

The following table shows the reconciliation of the numerator and denominator for net income available to Class A Common Stock per share to Adjusted Fully Distributed Net Income per Share of Class A Common Stock for the periods presented (in thousands except share and per share data):

 Three Months Ended March 31, Nine Months Ended March 31,  2018   2017   2018   2017  Reconciliation of numerator for net income available to Class A Common Stock per share to Adjusted Fully Distributed Net Income per Share of Class A Common Stock:       Net income attributable to Malibu Boats, Inc.$15,672  $8,013  $15,174  $18,694 Provision for income taxes 1 6,245   3,805   56,545   9,897 Professional fees 2 —   1,159   26   3,145 Acquisition and integration related expenses 3 870   —   4,393   — Fair market value adjustment for interest rate swap 4 (137)  (116)  (340)  (941)Stock-based compensation expense 5 560   325   1,410   1,070 Marine Power litigation judgment 6 —   —   —   (1,330) Engine development 7 899   630   3,486   1,090 Adjustments to tax receivable agreement liability 8 —   —   (27,702)  — Net income attributable to non-controlling interest 9 1,124   833   2,452   2,115 Fully distributed net income before income taxes 25,233   14,649   55,444   33,740 Income tax expense on fully distributed income       before income taxes 10 5,854   5,201   15,914   11,978 Adjusted fully distributed net income 19,379   9,448  $39,530  $21,762                                  Three Months Ended March 31, Nine Months Ended March 31,  2018   2017   2018   2017 Reconciliation of denominator for net income available to Class A Common Stock per share to Adjusted Fully Distributed Net Income per Share of Class A Common Stock:               Weighted average shares outstanding of Class A Common Stock used for basic net income per share: 20,550,972   17,877,152   20,063,282   17,799,221 Adjustments to weighted average shares of Class A Common Stock:       Weighted-average LLC units held by non-controlling unit holders 11 1,073,830   1,331,842   1,165,750   1,384,653 Weighted-average unvested restricted stock awards issued to management 12 137,146   134,744   131,182   105,564 Adjusted weighted average shares of Class A Common Stock outstanding used in computing Adjusted Fully Distributed Net Income per Share of Class A Common Stock 21,761,948   19,343,738   21,360,214   19,289,438                 

The following table shows the reconciliation of net income available to Class A Common Stock per share to Adjusted Fully Distributed Net Income per Share of Class A Common Stock for the periods presented:

 Three Months Ended March 31, Nine Months Ended March 31,  2018   2017   2018   2017 Net income available to Class A Common Stock per share$0.76  $0.45  $0.76  $1.05 Impact of adjustments:       Provision for income taxes 1 0.30   0.21   2.82   0.56 Professional fees 2 —   0.06   —   0.18 Acquisition and integration related expenses 3 0.04   —   0.22   — Fair market value adjustment for interest rate swap 4 (0.01)  (0.01)  (0.02)  (0.05)Stock-based compensation expense 5 0.03   0.02   0.07   0.06 Marine Power litigation judgment 6 —   —   —   (0.07)Engine development 7 0.04   0.04   0.17   0.06 Adjustment to tax receivable agreement liability 8 —   —   (1.38)  — Net income attributable to non-controlling interest 9 0.05   0.05   0.12   0.12 Fully distributed net income per share before income taxes 1.21   0.82   2.76   1.91 Impact of income tax expense on fully distributed income before income taxes 10 (0.28)  (0.29)  (0.79)  (0.67)Impact of increased share count 13 (0.04)  (0.04) $(0.13) $(0.11)Adjusted Fully Distributed Net Income per Share of Class A Common Stock$0.89  $0.49  $1.84  $1.13 

(1)  Provision for income taxes for the three and nine months ended March 31, 2018 reflects the impact of the Tax Act adopted in December 2017, which among other items, lowered the U.S. corporate income tax rate from 35% to 21%, effective January 1, 2018. For the nine months ended March 31, 2018, we recorded a non-cash provisional adjustment to income tax expense of $47.2 million for the remeasurement of deferred taxes on the enactment date and the deferred tax impact related to the reduction in the tax receivables agreement liability.
(2)  For the nine months ended March 31, 2018 and three and nine months ended March 31, 2017, represents legal and advisory fees related to our litigation with MasterCraft Boat Company, LLC ("MasterCraft") which was settled in May 2017.
(3)  Represents legal and advisory fees as well as integration related costs incurred in connection with our acquisition of Cobalt. Integration related expenses for the nine months ended March 31, 2018 include post-acquisition adjustments to cost of goods sold of $1.5 million for the fair value step up of inventory acquired, most of which was sold during the first quarter of fiscal 2018. In addition, integration related expenses includes $0.7 million in depreciation and amortization associated with our fair value step up of property, plant and equipment and intangibles acquired in connection with the acquisition of Cobalt.
(4)  Represents the change in the fair value of our interest rate swap entered into on July 1, 2015.
(5)  Represents equity-based incentives awarded to certain of our employees under the Malibu Boats, Inc. Long-Term Incentive Plan and profit interests issued under the previously existing limited liability company agreement of the LLC.
(6)  Represents the reduction in a one-time charge related to a judgment rendered against us in connection with a lawsuit by Marine Power where the court amended the judgment to $1.9 million.
(7)  Represents costs incurred in connection with our vertical integration of engines including product development costs and supplier transition performance incentives.
(8)  For the nine months ended March 31, 2018, we recognized other income as a result of a decrease in our estimated tax receivable agreement liability. The reduction in our tax receivable agreement liability resulted from the adoption of the Tax Act, which decreased the estimated tax rate used in computing our future tax obligations and, in turn, decreased the future tax benefit we expect to realize related to increased tax basis from previous sales and exchanges of LLC Units by our pre-IPO owners.
(9)  Reflects the elimination of the non-controlling interest in the LLC as if all LLC members had fully exchanged their LLC Units for shares of Class A Common Stock.
(10)  Reflects income tax expense at an estimated normalized annual effective income tax rate of 23.2% and 35.5% of income before income taxes for the three months ended March 31, 2018 and 2017, respectively, assuming the conversion of all LLC Units into shares of Class A Common Stock. The estimated normalized annual effective income tax rate is based on the federal statutory rate plus a blended state rate adjusted for deductions under Section 199 of the Internal Revenue Code of 1986, as amended, state taxes attributable to the LLC, and foreign income taxes attributable to our Australian based subsidiary. The decrease in the normalized annual effective income tax rate to 23.2% for the three months ended March 31, 2018, is primarily the result of the Tax Act which was effective for periods after January 1, 2018, lowering the corporate tax rate to 21%, as well as an updated blended state rate, which considers the impacts of the Cobalt acquisition and a recent law change in Tennessee. The estimated normalized effective income tax rate for the nine months ended March 31, 2018 reflects a blended rate of 28.7% of income before income taxes assuming the conversion of all LLC Units into shares of Class A Common Stock. For the nine months ended March 31, 2017, the estimated normalized effective income tax rate used was 35.5%.
(11)  Represents the weighted average shares outstanding of LLC Units held by non-controlling interests assuming they were exchanged into Class A Common Stock on a one-for-one basis.
(12)  Represents the weighted average unvested restricted stock awards included in outstanding shares during the applicable period that were convertible into Class A Common Stock and granted to members of management.
(13) Reflects impact of increased share counts assuming the exchange of all weighted average shares outstanding of LLC Units into shares of Class A Common Stock and the conversion of all weighted average unvested restricted stock awards included in outstanding shares granted to members of management.

Categories: State

Emerald Health Therapeutics Acquires Cannabis Licensed Producer in Québec

7 hours 29 min ago

New Emerald operation, one of only six licensed producers in Québec, adds indoor growing capacity of approximately 10,000 kg per annum

VICTORIA, British Columbia, May 02, 2018 (GLOBE NEWSWIRE) -- Emerald Health Therapeutics, Inc. (“Emerald”) (TSXV:EMH) (OTCQX:EMHTF) (Frankfurt:TBD) announced today that it has acquired (the “Acquisition”) all of the issued and outstanding securities of 8611165 Canada Inc., an Access to Cannabis for Medical Purposes Regulations (ACMPR) Licensed Producer located in Saint-Eustache, Québec, and its affiliate 9353-8460 Québec Inc. (together, “Agro-Biotech”). Agro-Biotech’s assets include a Health Canada cultivation license, land, and 75,000 sq. ft. purpose-built facility. The Acquisition enhances this local startup’s resources to serve Québec consumers with high-quality cannabis products in the anticipated legalized adult-use market, and further strengthens Emerald’s ability to market throughout eastern Canada and nationwide.

This indoor hydroponic growing facility, which has access to very low-cost energy and water, will be capable of high-yielding production of Emerald’s unique cannabis strains, several of which are currently being grown in Agro-Biotech’s facility. Agro-Biotech’s extensive experience in cannabis cultivation complements Emerald’s downstream product development focus, which is backed by its depth of pharmaceutical industry R&D and clinical development expertise, and extensive consumer packaged goods and alcohol beverage marketing experience.

Agro-Biotech has built out 20,000 sq. ft. of this facility and expects to have 50,000 sq. ft. equipped for indoor cannabis cultivation by year end. Emerald intends to meet the requirements for an ACMPR sales license for this facility before the end of August. This operation is estimated to have production capacity of 3,000 kg of cannabis in 2018 and have full production capacity exceeding 10,000 kg following completion of the build-out by year end.

With the anticipated introduction of legalized recreational cannabis in Canada, Emerald’s acquisition of Agro-Biotech expands its capacity to meet increased consumer demand in the second half of 2018. Emerald is currently also retrofitting its 50-percent owned 1.1 million square foot greenhouse in Delta, BC, which has its cultivation license and is expected to have over 46,000 kg of production capacity by 2019 and more than 75,000 kilograms of growing capacity when the facility reaches full production. Emerald is also constructing a 500,000-square foot hybrid indoor and greenhouse cannabis growing facility in Metro Vancouver.

“On behalf of the entire team, we are extremely grateful to the city of Saint-Eustache, which has been a supportive and welcoming community, and we look forward to increasing local employment and contributing to the area’s economy,” said Avtar Dhillon, MD, Executive Chairman of Emerald. “Québec’s and the city’s affordable electricity and water will enable us to produce unique, high quality cannabis at very low cost. We are excited to become part of an established presence in Québec that will allow us to be highly responsive to customers in this province and beyond.”

“Agro-Biotech is one of only six Licensed Producers in Québec, Canada’s second largest province with a population of over 8.4 million. Our experienced and talented team collectively has over 60 years of cannabis growing and broad horticulture experience,” said Yan Dignard, President, RPIC/QPIC, of Agro-Biotech. “We did this deal as we respect Emerald’s capabilities and look forward to working with their team to build a strong and differentiated cannabis product line in Québec and across Canada.”

Under the terms of the Acquisition, Emerald will pay an aggregate purchase price of $90 million to the shareholders of Agro-Biotech, half in cash and half in shares. One-half of the cash consideration was paid on closing and the remainder will be payable on May 1, 2019. All of the shares were issued upon closing, however, half of the shares will be held in escrow until May 1, 2019, pursuant to an escrow agreement.

About Emerald Health Therapeutics, Inc.

Emerald Health Therapeutics (TSXV:EMH) (OTCQX:EMHTF) (Frankfurt:TBD) is a Licensed Producer under Canada’s Access to Cannabis for Medical Purposes Regulations and produces and sells dried cannabis and cannabis oil for medical purposes. It is adding a 500,000 square foot greenhouse in Metro Vancouver to serve the anticipated legal Canadian adult-use cannabis market starting in 2018. Emerald owns 50% of a joint venture with Village Farms International, Inc. that is converting an existing 1.1 million square foot greenhouse in Delta, BC to grow cannabis. Emerald’s team is highly experienced in life sciences, product development and large-scale agribusiness. Emerald Health Therapeutics is part of the Emerald Health group, which includes multiple companies focused on developing cannabis and cannabinoid products with potential wellness and medical benefits.

Please visit www.emeraldhealth.ca for more information or contact:

Rob Hill, Chief Financial Officer 
(800) 757 3536 Ext. #5

Ray Lagace, Investor Relations Manager
(800) 757 3536 Ext. #5
invest@emeraldhealth.ca   

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements: Certain statements made in this press release that are not historical facts are forward-looking statements and are subject to important risks, uncertainties and assumptions, both general and specific, which give rise to the possibility that actual results or events could differ materially from our expectations expressed in or implied by such forward-looking statements. Such statements include legalization of non-medicinal cannabis; production capacity of various facilities; expansion of facilities; obtaining a sales license for the Saint-Eustache facility; and anticipated production costs.

We cannot guarantee that any forward-looking statement will materialize and readers are cautioned not to place undue reliance on these forward-looking statements. These forward-looking statements involve risks and uncertainties related to, among other things, failure to obtain regulatory approvals; failure to obtain necessary financing; results of production and sale activities; results of scientific research; regulatory changes; changes in prices and costs of inputs; demand for labour; demand for products; as well as the risk factors described in the Company’s annual information form and other regulatory filings. The forward-looking statements contained in this press release represent our expectations as of the date hereof. Forward-looking statements are presented for the purpose of providing information about management's current expectations and plans and allowing investors and others to obtain a better understanding of our anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes. The Company undertakes no obligations to update or revise such statements to reflect new circumstances or unanticipated events as they occur, unless required by applicable law.

Categories: State

RavenQuest Provides Corporate Update

8 hours 29 min ago

VANCOUVER, British Columbia, May 02, 2018 (GLOBE NEWSWIRE) -- RavenQuest BioMed Inc. (the “Company” or “RavenQuest”) – (CSE:RQB) (OTCQB:RVVQF) (Frankfurt:1IT) provides a corporate update.

Operational Activity

RavenQuest’s Investment Division has added two new projects at the MOU stage, including a 250,000 square foot joint venture with Fort McMurray #468 First Nation and the acquisition of late stage applicant, Western AgriPharma Limited, with 125,000 square feet of future grow space. Full buildout of both facilities moves RavenQuest’s projected production from 11,000 kg annually to over 50,000 kg annually.

RavenQuest has signed a lease for space in downtown Edmonton aimed at opening its flagship retail recreational cannabis store, with application for license to be submitted near term. The retail space is strategically situated within close proximity to Edmonton’s downtown nightlife, concert halls, conference center, public transit and the popular “ICE District”, home to NHL hockey and a densely populated residential area. RavenQuest has designed a unique retail experience which includes significant space dedicated to education and awareness surrounding cannabis consumption.

RavenQuest’s Greater Toronto facility, Bloomera, currently has a license to cultivate and has completed the first of two harvests required by Health Canada for license to sell and dispense. Bloomera successfully passed all chemistry and microbiology testing on the first grow cycle, expects to complete the second and acquire sell/dispense license by July, 2018.

Construction on Edmonton based Alberta Green Biotech (“AGB”) is fully funded and continues apace, precisely on schedule and on track for license to cultivate by July of 2018.

Bill Robinson, who leads Government and Indigenous Relations and Executive Director of the Indigenous Peoples’ Cannabis Association, hosted the first national conference call for the IPCA. IPCA membership continues to grow rapidly, indicating the level of interest from Indigenous communities in taking steps toward participating in the cannabis economy.

Notably, RavenQuest’s service division produced $611,000 in revenue in the most recent quarter, covering all operational expenses for the company.

Together with its research partner, McGill University, the Company has received a $480,000 grant from the Natural Sciences & Engineering Research Council (NSERC), which, combined with RavenQuest cash and in-kind contributions, will total $1.2 million over three years toward scientific research aimed at recognition, stabilization and yield maximization of the cannabis plant. RavenQuest sees this work as essential toward delivering a repeatable, reliable and consistent product to its end consumers and patients, all key elements to global success as a cannabis company.

In its commitment to ongoing human excellence, RavenQuest wishes to share the addition of two key members of its growing team.

Andy Schinke will lead RavenQuest’s efforts in Cannabis Sales and Product Acquisition. Mr. Schinke has held VP Sales & Marketing roles within various industries. Mr. Schinke has held the positions of consultant, Director of Sales, Western Canada (Maricann) and most recently held the title of Director of Retail Sales, Canada (Maricann).

Kevin Miao will lead efforts in RavenQuest’s manufacture of the Orbital Garden six/eight-stack grow technology. Kevin’s background includes M.Sc., Mechanical Engineering (University of Alberta), eight years commissioning newly built power plants, thirteen years providing operational, consulting and technical support to the oil industry as well as the design of service rigs.

Corporate Activity

Management notes that at full expansion, RavenQuest’s production capacity projects at 51,000 kg per year.

Management further notes that 11,000 kg of this capacity is fully funded with construction either complete or well underway, with full capacity revenues from both projects (Bloomera & AGB) expected in 2019.

All four pillars of RavenQuest “four-pillars” approach continue to move forward in the following ways:

  1. Investment Division: Construction/Licensing on schedule, new MOU’s with significant increase in new capacity
  2. Indigenous Partnerships: Significant expansion and partnership with FM #468 First Nation
  3. Services Division: Produced $611,000 in revenue last quarter, covering all operating expenses
  4. Scientific R&D: Receipt of NSERC Grant

RavenQuest CEO, George Robinson, will be a featured speaker at the following events in 2018:

Arcview International Investor Forum: April 30-May 2 Vancouver, BC
Institutional Capital & Cannabis Conference: May 21-22 Los Angeles, CA
International Cannabis Business Conference: June 24-25 Vancouver, BC
The Money Show (Cannabis Investing Symposium): August 23-25, San Francisco, CA
The Money Show (Cannabis Investing Symposium): Sept 14-15, Toronto, ON
Institute of Public Administration of Canada (Pracademic policy workshop): Aug. 22, Quebec City, PQ

RavenQuest will have a booth at all of the above as well as at Lift Expo in Toronto May 25-27. The Company welcomes visitors/attendees to the booth to learn more and discuss RavenQuest.

About RavenQuest BioMed Inc.

RavenQuest BioMed Inc. is a diversified publicly traded cannabis company with divisions focused upon cannabis production, management services & consulting and specialized research & development.

On Behalf of the Board of Directors of 
RAVENQUEST BIOMED INC.

“George Robinson”
Chief Executive Officer

For further information, please contact:
Mathieu McDonald, Corporate Communications – 604-484-1230

Neither Canadian Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Stock Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management.

Cautionary Note Regarding Forward-Looking Statements

All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to the Company within the meaning of applicable securities laws, including statements with respect to the development of a licensed cannabis production facility and anticipated production from such a facility. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited to those identified and reported in the Company’s public filings under the Company’s SEDAR profile at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.

Categories: State

UPDATE: Puration Announces Plans To Produce THC Infused Beverage For Legal Canadian Recreational Marijuana Market

1 May 2018 - 9:44am

DALLAS, May 01, 2018 (GLOBE NEWSWIRE) -- Via OTC PR Wire – Puration, Inc. (USOTC:PURA) Today announced plans to produce a THC infused beverage in Canada in conjunction with a previously announced pending acquisition intended to establish a cannabis cultivation operation for the recreational marijuana market expected to be legalized nationwide in Canada this summer.  The new THC infused beverage will expand Puration’s current cannabis infused beverage business.  Last year, Puration introduced EVERx, a CBD infused sports water. The sales of EVERx yielded over a 60% gross margin as reported in the company’s 2017 annual report. The initial sales have won the interest of additional distributors to include a recently announced national distribution contract. Puration has designed a THC infused beverage and registered the name THCSavor.  Package design is underway.  Highlights of the THCSavor go-to-market plan are to be included in the upcoming shareholder presentation scheduled for, Thursday next week, on May 10th, to provide overall details on the Canadian business acquisition expected to be closed as early as the end of this week.

For more information on Puration, visit http://www.aciconglomerated.com.

Disclaimer/Safe Harbor: 

This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company's current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies' contracts, the companies' liquidity position, the companies' ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur. These statements have not been evaluated by the Food and Drug Administration. These products are not intended to diagnose, treat, cure, or prevent any disease. 

Puration, Inc.
Brian Shibley,
info@aciconglomerated.com
+1-800-861-1350

Categories: State

Brownie’s Marine Group to capture an entirely new market

1 May 2018 - 9:00am

POMPANO BEACH, FL., May 01, 2018 (GLOBE NEWSWIRE) -- Brownie’s Marine Group (BMG), BMG is pleased to announce that it has secured exclusive, worldwide license to new intellectual property in the field of supplying surface breathing air to divers.  Included in the IP are custom electric motor, pump, regulator, and control algorithm designs which will allow BMG to offer the most compact, lightweight and price-competitive shallow-water dive systems in the world.

The original device is the brainchild of John Colborn a Houston, Texas resident with a passion for the water. A combination of enthusiasm and profound background in both product development and engineering brought forth the Xplorkel, a surface-supplied air (SSA) dive system that bridges the gap between snorkeling and diving. Colborn founded Setaysha Technical Solutions to make breathing underwater easier, more comfortable and accessible – a mission that perfectly integrates with that of BMG.

The device formerly-known as Xplorkel has joined the bLU3 product line as NEMO™ – the smallest of the series and the first bLU3 product to enter into production. NEMO™ is an SSA dive system that supports one diver to a maximum depth of ten feet.

“It’s the perfect entry-level device for bringing the world’s 20 million snorkelers deeper into the incredible world of diving,” stated Robert Carmichael, CEO of Brownie’s Marine Group. “It provides those, who for one reason or another haven’t made the commitment to SCUBA, their own low barrier-of-entry, underwater breathing equipment. Our team couldn’t be happier to be the ones bringing that opportunity to the world, we’re ecstatic” said Carmichael with a visible level of excitement.

Carmichael went on to note that NEMO™ captures new markets, “we’re incredibly proud of the advancements made on the new Third Lung,” he stated, referencing the Sea Lion™ Third Lung – a battery-powered dive system that runs for 3+ hours on a single battery, a major achievement announced by the company last month, he went on to say “but NEMO™ appeals to entirely new demographics we’ve had our eyes on – the recreational snorkelers, paddle boarders and treasure hunters.”

NEMO™ is about the size of a 2-slice toaster, making it a suitable addition to the bLU3 line, which touts the tagline ‘a line of ultra-portable dive systems.’ The device provides an experience like SNUBA – a global enterprise that provides over 200k surface-supplied diving experiences every year – yet in contrast, NEMO™can be owned by consumers, operates with common, rechargeable batteries, and can be carried in just one hand. It is also an item of interest to the ever-expanding market of kayak and paddleboard participants as it provides a convenient way to explore more of the water. The company has also been hearing from the dredging and treasure hunting community about bLU3 products being the perfect solution for their objectives.

“NEMO’'s size and weight is a breakthrough for both freshwater and saltwater diving. It also opens up a new opportunity for underwater metal detecting which is a market that is expanding very quickly as metal detectors become increasingly more affordable – some are as low as $200. NEMO allows metal detector users to leave the shore and search where few have before,” elaborated Brownie’s Board Member Dana Allen.

The opportunities to reach existing, yet un-served, customers are summarized in the company’s Market Analysis, available on its Investor Relations page.

The bLU3 team came across John Colborn and his invention at DEMA Show 2017, the largest trade show for companies doing business in the scuba diving and ocean watersports industries.

“Well, we originally had plans for NEMO™ to reach 15-20 feet, but when we saw the exceptional engineering John [Colborn] had put into this device, we knew it was perfect for what we were trying to do at bLU3. Anyway, when it comes to shallow reefs – you’ll experience just as much at 10 feet as you would at 20 feet, things you can’t get to know from the surface. It’s going to be a real game changer for the snorkeling community” Blake Carmichael explained, he went on to share his excitement to work with Colborn – “John [Colborn] is a great asset to our team. His ingenuity and experience is an absolute treasure.”

Due to the advancements in manufacturing engineering achieved by Colborn, NEMO™ will enter into production and become available for purchase prior to NOMAD, the feature-rich system announced by bLU3 in January 2018.

Colborn will work alongside the BMG team to further expand the Company’s patent portfolio and provide engineering and manufacturing startup support through to commercialization. He will potentially continue working on future BMG projects thereafter.

Those interested in investing can learn more at http://www.browniesmarinegroup.com/investors Those interested in more information about NEMO™ can visit https://diveblu3.com and join the bLU3 monthly newsletter to stay updated on the brand’s progress: bit.ly/bLU3-News.

###

CONTACT: Yasmin Santos Brownie’s Marine Group 954-643-5138 (cell) yasmin@browniedive.com
Categories: State

ICC Labs Files Results for the Year Ended December 31, 2017

1 May 2018 - 8:02am

2017 Highlights:

  • Closed Cdn.$23 million bought deal financing.
  • Commenced sales of recreational cannabis in Uruguay.
  • Completed construction of 21,528 sq. ft. greenhouse in Uruguay for the production of cannabidiol (“CBD”) strains of cannabis.
  • Entered into a memorandum of understanding and presale agreement with Emblem Corp. (TSX-V:EMC) for the sale of CBD dry flower.
  • Entered into a memorandum of understanding and presale agreement with Grupo Fenix (through Energia y Vida de Mexico S.A. de C.V.) for the sale of 120,000 thirty millilitre bottles of CBD oil in Mexico.
  • Entered into a presale agreement with Brasliv through Brasliv Import and Export for the sale 180,000 thirty millilitre bottles of CBD oil in Brazil.
  • Entered into term sheet for proposed strategic investment in Global Group Kalapa S.L. based in Spain to get a strong foothold in the European markets.

2018 Highlights to Date:

  • Obtained all of the medicinal cannabis production licenses currently available in Colombia.
  • Entered into agreement with ARA – Avanti RX Analytics Inc. (now a subsidiary of Aphria Inc. (TSX:APH)) for the sale of CBD crystal.
  • Entered into a framework and collaboration agreement for research and development with the Pasteur Institute of Montevideo, an internationally renowned research institute.
  • Executed a term sheet with Sundial Growers Inc. for the sale of CBD crystal.
  • Entered into a letter of intent with Eurofarma Uruguay S.A. with respect to the blending, bottling and packaging of ICC Labs’ products.
  • Commenced construction of a 124,000 sq. ft. greenhouse in Colombia for the production of medicinal, high-THC strains of cannabis.

VANCOUVER, British Columbia, May 01, 2018 (GLOBE NEWSWIRE) --  ICC Labs Inc. (“ICC Labs” or the “Company”) (TSX-V:ICC) (Frankfurt:2Q9) is pleased to announce it has filed its audited financial results for the year ended December 31, 2017.

The audited financial statements and management discussion and analysis for the three months and year ended December 31, 2017, will be available on the System for Electronic Document Analysis and Retrieval (“SEDAR”) at www.sedar.com and on ICC Labs’ website at www.icclabs.com.

“2017 was a transformational year for the Company with the commencement of sales of recreational cannabis in Uruguay, the development of more than 400 acres of high CBD hemp production, and breaking ground on South America’s first fully licensed CBD extraction laboratory, which is being built in accordance with international Good Manufacturing Practices (GMP) specifications”, commented Alejandro Antalich, Chief Executive Officer of ICC Labs.  “ICC Labs will continue to expand its production footprint through its Colombian operations and seeks to become Latin America's leading, fully-integrated and low-cost producer of cannabinoid pharmaceutical grade products for medicinal use.”

Investor Relations

The Company is pleased to announce that it has engaged Hybrid Financial Ltd. (“Hybrid”) to provide strategic investor relations and shareholder communications services with respect to the European market. Hybrid is a sales and marketing company, with offices in Toronto and Montreal, Canada. Under the terms of the engagement, which is for an initial three month term, Hybrid will be paid a one-time fee of €15,000 and a recurring fee of €25,000 per month. Hybrid will also be granted options to purchase up to 300,000 common shares in the capital of the Company with a five year term and an exercise price of Cdn.$1.44, vesting at a rate of 75,000 options on receipt of TSX Venture Exchange (“TSX-V”) approval and 75,000 options thereafter quarterly. The appointment of Hybrid is subject to the approval of the TSX-V.

Excluding certain options previously granted to Hybrid in connection with its previously announced investor relations services, Hybrid has no direct or indirect interest in the Company or its securities, or any right or intent to acquire such an interest.

ABOUT ICC LABS INC.

ICC Labs is a fully licensed producer and distributor of medicinal cannabinoid extracts, recreational cannabis and industrial hemp products in Uruguay as well as a fully licensed producer of medicinal cannabis in Colombia. The Company has active operations in Uruguay, and is focused on becoming the worldwide leading producer of cannabinoid extracts, giving support and promoting the responsible use for medicinal purposes, backed by scientific research and innovation, while following strict compliance and the highest standards for quality and safety.

For more information, please visit www.icclabs.com.

Contact:
ICC Labs Inc.
Alejandro Antalich, Chief Executive Officer
t: 598-2900-0000
e: ir@icclabs.com

Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

Certain statements in this press release constitute forward-looking information. All statements other than statements of historical fact contained in this press release, including, without limitation, those regarding the Company’s future production and sales, results of operations, strategy, plans, objectives, goals and targets, and any statements preceded by, followed by or that include the words “believe”, “expect”, “aim”, “intend”, “plan”, “continue”, “will”, “may”, “would”, “anticipate”, “estimate”, “forecast”, “predict”, “project”, “seek”, “should” or similar expressions or the negative thereof, are forward-looking statements. These statements are not historical facts but instead represent only the Company’s expectations, estimates and projections regarding future events. These statements are not guarantees of future performance and involve assumptions, risks and uncertainties that are difficult to predict. Therefore, actual results may differ materially from what is expressed, implied or forecasted in such forward-looking statements.

Additional factors that could cause actual results, performance or achievements to differ materially include, but are not limited to: receipt of the requisite regulatory approvals required and ICC Labs’ ability to close the transactions contemplated by the various term sheets, pre-sales agreements and letters of intent; to complete construction of its CBD extraction laboratory; and to commence production in Colombia.  Additional information identifying risks and uncertainties is contained in the Company’s filings with Canadian securities regulators, and available at www.sedar.com. Management provides forward-looking statements because it believes they provide useful information to investors when considering their investment objectives and cautions investors not to place undue reliance on forward-looking information. Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements and other cautionary statements or factors contained herein, and there can be no assurance that the actual results or developments will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, the Company. These forward-looking statements are made as of the date of this press release and the Company assumes no obligation to update or revise them to reflect subsequent information, events or circumstances or otherwise, except as required by law.

Categories: State

Therapeutic Solutions International Launches Multi-Protocol Cancer Immunotherapy Clinical Trial with Pan Am Cancer Treatment

1 May 2018 - 8:00am

DALLAS, May 01, 2018 (GLOBE NEWSWIRE) -- Via OTC PR Wire – Puration, Inc. (USOTC:PURA) Today announced plans to produce a THC infused beverage in Canada in conjunction with a previously announced pending acquisition intended to establish a cannabis cultivation operation for the recreational marijuana market expected to be legalized nationwide in Canada this summer.  The new THC infused beverage will expand Puration’s current cannabis infused beverage business.  Last year, Puration introduced EVERx, a CBD infused sports water. The sales of EVERx yielded over a 60% gross margin as reported in the company’s 2017 annual report. The initial sales have won the interest of additional distributors to include a recently announced national distribution contract. Puration has designed a THC infused beverage and registered the name THCSavor.  Package design is underway.  Highlights of the THCSavor go-to-market plan are to be included in the upcoming shareholder presentation scheduled for, Thursday next week, on May 10th, to provide overall details on the Canadian business acquisition expected to be closed as early as the end of this week.

For more information on Puration, visit http://www.aciconglomerated.com.
Disclaimer/Safe Harbor: 

This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company's current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies' contracts, the companies' liquidity position, the companies' ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur. These statements have not been evaluated by the Food and Drug Administration. These products are not intended to diagnose, treat, cure, or prevent any disease. 

Puration, Inc.
Brian Shibley,
info@aciconglomerated.com
+1-800-861-1350

Categories: State

Lexaria’s DehydraTECH Builds Market Share in Cannabis Beverage Industry -- CFN Media

1 May 2018 - 7:38am

SEATTLE, May 01, 2018 (GLOBE NEWSWIRE) -- CFN Media Group (“CFN Media”), the leading agency and financial media network dedicated to the North American cannabis industry, announces publication of an article covering Lexaria Bioscience Corp's. (CSE:LXX) (LXX.CN) (CNSX:LXX) (OTCQX:LXRP) recently announced definitive technology licensing agreement with GP Holdings LLC, a developer of cannabis infused beverages, providing access to its breakthrough technology that enhances bioavailability.

The cannabis industry is expected to reach $50 billion by 2026 in the U.S. and C$22.6 billion over the coming years in Canada, according to industry analysts. While cannabis flower still commands the most sales, cannabis-infused products have become the fastest-growing segment across North America. Investors may want to look at companies serving this unique market segment, particularly as recreational legalization goes into effect.

Cannabis Beverage Market

Constellation Brands’ purchase of a 9.9 percent equity stake in Canopy Growth for $191 million sent shockwaves through the cannabis community in October of 2017. Constellation Brands President and CEO Rob Sands said that the nationwide legalization of marijuana will occur in the United States, but in the meantime, the company would start to sell in countries where recreational marijuana is already legal.

Specialty beverage companies had already been coming out with new cannabinoid infused beverages before the deal, but the move signaled that larger players in the multi-billion dollar beverage industry may be interested in expanding. Given the size of the alcohol industry, many of these companies may see cannabis-infused beverages as a market that could become just as large and offer a different type of effect upon consumption.

In July 2019, the Cannabis Drinks Expo will debut in San Francisco to bring together drinks producers, manufacturers, brand owners, distilleries, and breweries, along with the beverage supply chain to discuss the implications of legal cannabis. Events like these could open up the market to more established beverage companies looking to build a presence in the industry by incorporating cannabinoids into their products in newly legal markets.

California’s cannabis beverage market is expected to become one of the largest edible product segments following the state’s legalization of recreational cannabis this year. Arcview Market Research, in partnership with New Frontier, estimated that California’s market could reach $6.5 billion by 2020, driven by the legalization of recreational cannabis. These figures translate into an enormous market opportunity for companies competing in the space.

DehydraTECH’s Advantage

Lexaria’s patented DehydraTECH™ technology is designed to increase the bioavailability, improve the flavors, and rapidity of onset of cannabinoids across a wide range of products, including beverages.

In late-April, the company announced a deal with GP Holdings LLC to leverage the technology to bring cannabis-infused beverages to market in California. GP Holdings aims to become a leading THC beverage contract manufacturer in the state with a new state-of-the-art bottling facility coming online within the next two quarters. The two companies have been collaborating for months on integrating DehydraTECH™ into its formulations.

“The use of DehydraTECH™ triggers a race to the top in the California THC beverage and topicals market through this 5-year license agreement,” said Lexaria CEO Chris Bunka in the press release announcing the deal. “This is another long-term strategic relationship that will give consumers the faster acting and highly potent products they deserve, and class leading flavor profiles for the beverage segment in particular.”

Under the terms of the agreement, Lexaria provided GP Holdings with semi-exclusive rights for five years in exchange for a lump sum and royalty on revenue generated from products developed using its DehydraTECH™ technology. The agreement enables Lexaria to generate near-term revenue while still offering other licensee partners the option of using GP’s formulation and expertise to produce cannabis-infused beverages in the state.

Looking Ahead

Lexaria Bioscience Corp. (CSE:LXX) (OTCQX:LXRP) has made tremendous progress in commercializing its DehydraTECH™ technology. In addition to the GP Holdings agreement, the company announced a deal with Hill Street Beverage Co. to develop cannabis-infused alcohol-free beers and wines in Canada. These types of deals should create steady recurring cash flow and exceptional long-term value for shareholders.

For more information, visit the company’s website or download their investor presentation.

Please follow the link to read the full article: http://www.cannabisfn.com/lexarias-dehydratech-builds-market-share-cannabis-beverage-industry

About CFN Media

CFN Media (CannabisFN) is the leading agency and financial media network dedicated to the global cannabis industry, helps companies operating in the space attract investors, capital, and publicity. Since 2013, private and public cannabis companies in the US and Canada have relied on CFN Media to grow and succeed.

Learn how to become a CFN Media client company, brand or entrepreneur: http://www.cannabisfn.com/featuredcompany

Download the CFN Media iOS mobile app to access the world of cannabis from the palm of your hand: https://itunes.apple.com/us/app/cannabisfn/id988009247?ls=1&mt=8

Or visit our homepage and enter your mobile number under the Apple App Store logo to receive a download link text on your iPhone: http://www.cannabisfn.com

Disclaimer

CannabisFN.com is not an independent financial investment advisor or broker-dealer. You should always consult with your own independent legal, tax, and/or investment professionals before making any investment decisions. The information provided on http://www.cannabisfn.com (the ‘Site’) is either original financial news or paid advertisements drafted by our in-house team or provided by an affiliate. CannabisFN.com, a financial news media and marketing firm enters into media buys or service agreements with the companies that are the subject of the articles posted on the Site or other editorials for advertising such companies.  We are not an independent news media provider. We make no warranty or representation about the information including its completeness, accuracy, truthfulness or reliability and we disclaim, expressly and implicitly, all warranties of any kind, including whether the Information is complete, accurate, truthful, or reliable. As such, your use of the information is at your own risk. Nor do we undertake any obligation to update the items posted. CannabisFN.com received compensation for producing and presenting high quality and sophisticated content on CannabisFN.com along with financial and corporate news.  

The above article is sponsored content. Emerging Growth LLC, which owns CannabisFN.com and CFN Media, has been hired to create awareness. Please follow the link below to view our full disclosure outlining our compensation: http://www.cannabisfn.com/legal-disclaimer/

Frank Lane
206-369-7050
Flane@cannabisfn.com

Categories: State

Lubrizol Introduces New Branding Elements for Engineered Polymers Business at NPE 2018

1 May 2018 - 6:01am

 

CLEVELAND, May 1, 2018 - The Lubrizol Corporation announces its Engineered Polymers business will unveil its contemporary new branding elements at NPE 2018. The new brand statement, "Advancing Materials. Elevating Performance", is complemented by bold imagery, powerful color and visual cues to connect Lubrizol's specialty technology with the benefits it brings in end-use applications.

Julie Shlepr, business development director for Engineered Polymers, notes that, "Advancing Materials, Elevating Performance is both the mission and passion for Lubrizol Engineered Polymers." Shlepr continues, "Our new brand statement represents, at the most fundamental level, our purpose. It's about being inspired by better, and solving problems with customer success at the core. As material science experts, we work collaboratively with customers to build market insights and redefine problems and how they are solved - from the molecular level right through formulation, applications development and performance testing."

Shlepr continues, "As the inventor of thermoplastic polyurethane (TPU), our Estane® polymers set the mark for performance and quality. Our polymers bridge the gap between flexible rubber and rigid plastics, with a wide variety of physical and functional property combinations. Through decades of innovation and strong dedication to the markets we serve, we have developed one of the deepest, most specialized portfolios available."

Lubrizol Engineered Polymers' innovative solutions are selected for the outstanding physical and aesthetic properties they provide in many industrial, sports, recreational and consumer goods applications. Focus markets include Surface Protection, Transportation, Consumer Electronics, Consumer Specialties, Industrial Specialties, Performance Footwear and Performance Apparel.

The new branding elements were also featured recently at Chinaplas in Shanghai. Lubrizol works with customers across the globe to make products safer and stronger for better end-use performance, often while simultaneously improving aesthetics and sustainability outcomes. Customers are supported through local sales and technical support, with R&D and manufacturing centers of excellence in each region, and a well-networked global supply chain, so customers have a convenient, single source of reliable solutions across the world.
  
Visitors to NPE can learn more about Lubrizol Engineered Polymers at Booth S12115 in the South Hall of the Orange County Convention Center. Lubrizol will also present two Expert Super Sessions about Estane® Thermoplastic Polyurethane (TPU) innovations.


About Lubrizol Engineered Polymers
Lubrizol Engineered Polymers offers one of the broadest portfolios of engineered polymers available today including resins that are bio-based*, recyclable**, light stable, flame retardant, adhesive, chemically resistant, optically clear and fast cycling. Our technology crosses many industries and applications, including surface protection, power and fluid systems, sports and recreation, wearable devices, electronics and automotive. For more information, visit www.lubrizol.com/engineeredpolymers or contact engineeredpolymers@lubrizol.com.

About The Lubrizol Corporation
The Lubrizol Corporation, a Berkshire Hathaway company, is a market-driven global company that combines complex, specialty chemicals to optimize the quality, performance and value of customers' products while reducing their environmental impact. It is a leader at combining market insights with chemistry and application capabilities to deliver valuable solutions to customers in the global transportation, industrial and consumer markets. Lubrizol improves lives by acting as an essential partner in our customers' success, delivering efficiency, reliability or wellness to their end users. Technologies include lubricant additives for engine oils, driveline and other transportation-related fluids, industrial lubricants, as well as additives for gasoline and diesel fuel. In addition, Lubrizol makes ingredients and additives for home care, personal care and skin care products and specialty materials encompassing polymer and coatings technologies, along with polymer-based pharmaceutical and medical device solutions.

With headquarters in Wickliffe, Ohio, Lubrizol owns and operates manufacturing facilities in 17 countries, as well as sales and technical offices around the world. Founded in 1928, Lubrizol has approximately 8,700 employees worldwide. Revenues for 2017 were $6.3 billion. For more information, visit Lubrizol.com.

*Bio-based content as certified in accordance with ASTM D-6866.
**Recyclability is based on access to a readily available standard recycling program that supports such materials. Products may not be available in all areas.

All marks are owned by The Lubrizol Corporation.

Lubrizol unveils contemporary new branding elements for its Engineered Polymers business at NPE 2018.

Visitors can learn more about Lubrizol Engineered Polymers at the NPE Plastics Show, Booth S12115 in the South Hall of Orange County Convention Center, May 7-11, 2018 in Orlando, FL.

Media Contacts
Michael Priola
+1 216 447-5697
The Lubrizol Corporation

Web Sites
www.lubrizol.com/engineered-polymers
www.lubrizol.com
###

Categories: State

Freedom Leaf Announces Nevada State Senator Richard S. "Tick" Segerblom has Joined the Freedom Leaf Board of Directors

1 May 2018 - 5:00am

FRLF is building out its Vegas-based operations, including: extraction engineering, ecommerce marketing solutions, & project mgt structure

LAS VEGAS, NV, May 01, 2018 (GLOBE NEWSWIRE) -- Freedom Leaf Inc. (OTCQB: FRLF), a group of diversified, international, vertically-integrated hemp business and cannabis media companies, announced today that Las Vegas-based, Nevada State Senator, Richard S. Segerblom, who led the drive for the legalization of marijuana in Nevada, has agreed to join the Freedom Leaf Board of Directors. The other Directors include: Paul Pelosi Jr., Chairman, Freedom Leaf CEO Clifford J. Perry and Freedom Leaf EVP Raymond P. Medeiros.

Senator “Tick” Segerblom commented: “Freedom Leaf shares my vision that Las Vegas is the perfect home for marijuana and hemp companies. Nevada’s corporate laws and tax structure are second to none. Joining the Freedom Leaf Board enables me to take that message throughout the nation, Canada and the world.”

Senator Segerblom is a third generation Nevadan, and the fourth generation of his family to serve as a representative in the Nevada legislature. Senator Segerblom introduced the first medical marijuana bill into Nevada legislature and helped lead the drive for the legalization of cannabis in Nevada with the passage of the 2016 Yes On Question 2 Campaign.

Freedom Leaf’s Chairman of the Board, Paul Pelosi, Jr., commented: “We are pleased to welcome Nevada Senator “Tick” Segerblom to the Freedom Leaf team and offer congratulations to Freedom Leaf’s management for continuing to recruit people with similar commitments to health, social, fiscal and environmental responsibilities.”

Chairman Pelosi went on to say: “We look forward to working with Senator Segerblom to bring industrial hemp back into the mainstream through our leading magazine, online digital properties, production and distribution of high-quality wellness products.”

Freedom Leaf Co-Founder and CEO, Clifford J. Perry, commented: “It is a great honor to have Senator Segerblom join the Board of The Marijuana Legalization Company ®, and recognize Freedom Leaf’s commitment to building the local cannabis industry in Nevada. No one has done more than Senator Segerblom to advance the cause of freedom and build Las Vegas as the world leader in hemp, medical, and recreational marijuana.”

Freedom Leaf has also been hard at work focusing on building out its Las Vegas staff with experienced professionals both inside and outside of the hemp industry. In recent months, FRLF has brought on three executives from its recently announced acquisition as well as: a new Managing Director, National Sales Director, and an Extraction Engineer – all of whom have significant industry experience and contacts.

In April, Freedom Leaf hired Rodrigo Chavez as Managing Director. Chavez has over eight years of operations & technology consultant experience and previously managed business operations for Weedmaps in Europe. Weedmaps is the world’s leading Cannabis dispensary locator and Marijuana advertiser. Chavez is an operations manager with a focus on sales development in emerging markets and has worked over four years within the emerging cannabis industry in Spain, Germany, Netherlands, and the UK.

Freedom Leaf has also recently brought on Joe Reed as National Sales Director. Reed has over two decades of sales management and distribution experience under his belt, during which time he has developed an extensive network of distributors and wholesalers both domestic and international. Reed will play a crucial role in building Hempology revenue by developing distributor relationships and establishing our sales team.

In March, Freedom Leaf hired Mr. Nick Shi, a Biomedical Engineering graduate of Purdue University, to optimize the extraction and distillation processes of Leafceuticals Inc. Shi will be focusing on continuously improving hemp CBD yields, processing time, and product quality at the Leafceuticals Inc. extraction lab in North Las Vegas.

About Freedom Leaf Inc.®

Freedom Leaf Inc., The Marijuana Legalization Company®, is a group of diversified, international, vertically-integrated hemp businesses and cannabis media companies. Freedom Leaf Inc. is a fully-reporting and audited publicly-traded company under the symbol (OTCQB: FRLF). Freedom Leaf Inc. has been a leading go-to resource in the cannabis, medical marijuana, and industrial hemp industries since 2014, founded by professionals with over 200 years combined experience in marijuana legalization advocacy. FRLF building a diverse portfolio of valuable businesses through strategic mergers, acquisitions, and acceleration projects across the industry.

FRLF’s large portfolio of acquisitions and properties includes: our recently acquired full spectrum hemp oil product line Irie CBD, our wholly-owned hemp extraction division Leafceuticals, Inc., our exclusive health and wellness full spectrum hemp oil brand Hempology, our 60,000 acres of indoor hemp greenhouse cultivation and 200 acres of outdoor cultivation with Green Market Europe, our hemp-based rolling paper company Plants to Paper, two of the largest Spanish-speaking cannabis web portals in the world LaMarihuana.com and Marihuana-Medicinal.com, and of course our flagship publication, Freedom Leaf Magazine.

Utilizing these mergers and acquisitions, Freedom Leaf Inc. is continually building a solid foundation for our vertically-integrated hemp company to maximize both shareholder value and revenue growth. Our cultivation and extraction divisions allow FRLF to grow and source our own hemp CBD, which allows dramatically lower production costs for our wholly-owned CBD product lines, thereby generating more revenue for each product sold. We also formulate and manufacture the majority of our products in our own in-house formulation centers, also greatly reducing our costs and increasing revenue. In addition, our extensive domestic and international media companies ensure we can continuously direct traffic to our many ecommerce sites and nationwide retail locations.

Freedom Leaf Inc. also sells licenses to use the Freedom Leaf brand in different countries and states across the globe. We have entered into three license agreements: for Spain and Portugal, for The Netherlands, and for Florida.

Freedom Leaf, Inc. does not handle, grow, sell, or dispense marijuana or related products.

All of our European activities are in full compliance with relevant EU laws.

Investor relations information can be found on the FreedomLeafInc.com company website.

Safe Harbor Statement

Statements in this press release that are not strictly historical are "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally can be identified by phrases such as Freedom Leaf, Inc. or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements herein that describe the Company's business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. Factors that could cause or contribute to differences include the uncertainty regarding viability and market acceptance of the Company's products and services, changes in relationships with third parties, and other factors described in the Company's most recent periodic filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K dated June 30, 2016 and quarterly reports on Form 10-Q.

CONTACT: Contact: Raymond Medeiros PR and Business Development Director Phone: 415-601-1974 ray@freedomleaf.com Freedom Leaf, Inc.

Categories: State

Lexaria Technology Brings "Fast-Acting" to Nuka’s 1906 Cannabis Products with 10-Year Deal Consummating Proof-of-Concept Relationship

30 April 2018 - 3:05pm

Nuka’s 1906 chocolates, utilizing Lexaria’s DehydraTECH technology, have been recognized for their fast onset times, efficacy, amazing taste and unique formulations

KELOWNA, British Columbia, April 30, 2018 (GLOBE NEWSWIRE) -- via NetworkWire -- Lexaria Bioscience Corp. (OTCQX:LXRP) (CSE:LXX), an innovator in drug delivery platforms, today announced a major new licensing agreement with Nuka Enterprises LLC, maker of 1906 brand cannabis chocolates and other edible products. The deal renews Nuka’s DehydraTECH™ license rights for use in its 1906 brand of cannabis chocolates, recognized for their fast onset times, efficacy, amazing taste and unique formulations.

Nuka has been utilizing Lexaria’s technology within its award-winning 1906 brand chocolates for nearly two years, during which time 1906 entered the cannabis market; advanced from a start-up to Colorado’s number-three cannabis chocolate brand available in over 150 locations; and has been touted by media, industry watchers and consumers as one of the most innovative brands in the cannabis space.

“1906 products are a unique combination of nature and science, bringing together natural plant medicines delivered in delicious form factors such as chocolate with advanced technologies that make them safe, predictable, fast-acting and efficacious,” said Peter Barsoom, CEO of Nuka Enterprises, LLC. “We’ve worked closely with Lexaria through 1906’s development and launch phases to create the best possible products that taste great, reduce onset times and deliver amazing experiences. Fast-acting edibles are the wave of the future - it's what consumers want - and we are at the forefront of bringing innovations to address consumer needs.”

The comprehensive 10-year agreement provides Nuka and 1906 with competitive technological advantages, as well as growing revenue streams for Lexaria. The semi-exclusive deal provides Nuka and 1906 with the immediate ability to utilize DehydraTECH™ technology across the US. Initially, 1906 will focus on recreational and adult-use states such as Colorado, Nevada, California, New Jersey, and Massachusetts. Nuka has also acquired an option to expand its products and brand to Canada, including through the use of Lexaria’s existing chocolate and confections contract manufacturer licensee Cannfections Group Inc.

Nuka and 1906 will leverage the competitive advantages of DehydraTECH™ across multiple product lines, as they have also strategically acquired new rights in product categories in addition to the original chocolate formats, which include candies, beverages, capsules and pills, and topical creams. In doing so, Nuka and 1906 have the opportunity to create America’s first national DehydraTECH™-powered cannabis brand for edible and topical products that offer the superior experiential profiles 1906 consumers desire, together with the exceptional flavor and speed of onset benefits. 

“Nuka was our first commercial client and has been an ideal partner due to their focus on using technology and advanced science as a competitive advantage,” said Chris Bunka, Chief Executive Officer of Lexaria Bioscience Corp. “Nuka’s success with the 1906 brand of cannabis chocolates - recognized for their fast onset times, efficacy, taste and unique formulations – clearly demonstrate the market potential for DehydraTECH™. This comprehensive, long-term relationship between Nuka and Lexaria is poised to redefine the cannabis industry and holds great potential for us in other markets.”

About Nuka Enterprises and 1906
Nuka Enterprises develops processes, IP and services, focused on disrupting the nascent and fast emerging cannabis industry. Nuka’s 1906 brand is creating a new category of premium edibles, marrying the benefits of cacao, cannabis and ethnobotanical ingredients, designed to appeal to responsible, informed, health conscious adults. Products that deliver absolutely safe, consistent and predictable experiences, helping customers re-connect with your senses and addressing different experiences with truly exceptional tastes. For more information, please visit www.1906newhighs.com

About Lexaria
Lexaria Bioscience Corp. has developed and out-licenses its disruptive delivery technology that promotes healthier ingestion methods, lower overall dosing and higher effectiveness of lipophilic active molecules. Lexaria has multiple patents pending in over 40 countries around the world and has patents granted in the USA and in Australia for utilization of its DehydraTECHTM delivery technology. Lexaria’s technology provides increases in intestinal absorption rates; more rapid delivery to the bloodstream; and important taste-masking benefits, for orally administered bioactive molecules including cannabinoids, vitamins, non-steroidal anti-inflammatory drugs (NSAIDs), nicotine and other molecules. For more information, please visit www.lexariabioscience.com

For regular updates, connect with Lexaria on Twitter (https://twitter.com/lexariacorp) and on Facebook (https://www.facebook.com/lexariabioscience/)

FOR FURTHER INFORMATION PLEASE CONTACT:
Lexaria Bioscience Corp.
Alex Blanchard, Communications Manager
(778) 796-1897
Or
NetworkNewsWire (NNW)
www.NetworkNewsWire.com

FORWARD-LOOKING STATEMENTS

This release includes forward-looking statements. Statements which are not historical facts are forward-looking statements. The Company makes forward-looking public statements concerning its expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including statements that include words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements, including but not limited to: that any additional patent protection will be realized or that patent achievements will deliver material results. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation and regulatory approvals, managing and maintaining growth, the effect of adverse publicity, litigation, competition, scientific discovery, the patent application and approval process and other factors which may be identified from time to time in the Company's public announcements and filings. There is no assurance that existing capital is sufficient for the Company's needs or that it will be able to raise additional capital. There is no assurance the Company will be capable of developing, marketing, licensing, or selling edible products containing cannabinoids, nicotine or any other active ingredient. There is no assurance that any planned corporate activity, scientific research or study, business venture, letter of intent, technology licensing pursuit, patent application or allowance, consumer study, or any initiative will be pursued, or if pursued, will be successful. There is no assurance that any of Lexaria’s postulated uses, benefits, or advantages for the patented and patent-pending technology will in fact be realized in any manner or in any part. No statement herein has been evaluated by the Food and Drug Administration (FDA).  Lexaria-associated products are not intended to diagnose, treat, cure or prevent any disease.

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Categories: State

MedMen Takes Manhattan, Plus Exclusive CEO Video Interview -- CFN Media

30 April 2018 - 12:28pm

SEATTLE, April 30, 2018 (GLOBE NEWSWIRE) -- CFN Media Group (“CFN Media”), the leading agency and financial media network dedicated to the North American cannabis industry, announces publication of an article and video interview discussing MedMen, one of the largest and most established cannabis companies in the U.S. with over 800 employees, 12 retail locations, and cultivation and production facilities spread across California, Nevada and New York. In the interview, co-founder and CEO Adam Bierman talks about how MedMen is defining modern marijuana operations with best-in-class facilities across the entire cannabis vertical in key markets. The company’s recently opened facilities in Manhattan and Nevada highlight this strategy.

As the legalization of cannabis, for both medical and recreational uses, spreads across the United States, some markets and locations present better business opportunities than others. Some states’ regulatory frameworks provide high barriers to entry, giving those able to obtain licenses access to a large share of the market. That is the case in states like California, Nevada and New York, which combined account for about half of the U.S. addressable market for cannabis. California and Nevada have commenced adult-use sales. In the Golden State, marijuana businesses must be licensed by municipalities first, before obtaining a state license. The City of Los Angeles with a population of nearly 4 million has issued fewer than 200 retail licenses with no immediate plans for more. By comparison, the state of Colorado with a population of 5.5 million has issued more than 600 dispensary licenses. Nevada has issued fewer than 40 retail licenses.

In New York, only 10 companies are licensed to manufacture and sell marijuana products for medical use currently. Those companies are expected to be first in line when the state legalizes adult use. And political momentum is building for legalization. Gov. Andrew Cuomo said recently New York will soon be surrounded by legal marijuana with adult use already legal in most of New England, and Canada and New Jersey likely to follow suit. “For all intents and purposes, it is going to be here anyway,” Cuomo told the New York Post.

Dispensary on Fifth Avenue

Perhaps the clearest example of MedMen’s approach is the opening of the company’s dispensary in Manhattan, on Fifth Avenue, on 4/20/18. It’s only the third dispensary in Manhattan. The borough boasts a population of over 1.6 million people, and New York City’s overall population is about 8.5 million. The company owns the real estate as well. MedMen also has dispensaries in Syracuse, Buffalo, and Long Island, with its cultivation and production facility located in Utica.

New York is currently a medical marijuana-only state, but there have been rumblings about going fully legal. In the meantime, the state has granted only 10 licensees the right to open only 40 total dispensaries across the whole state. So MedMen, as one of the licensees, has legal access to theoretically 10% of a market that serves almost 20 million people. Here you see MedMen positioning in New York, taking advantage of a regulatory framework that gives it access to millions of potential customers.

Now, in the state’s fledgling medical program, there are currently about 50,000 registered medical marijuana patients. But that number should expand as the program matures, and the longer term play is for MedMen to gain pole position in a recreational market that could potentially be the nation’s second largest when accounting for tourists from around the world. Massachusetts has already legalized, and New Jersey and Connecticut are in the process of legalizing. It’s not hard to imagine that New York will follow in the not too distant future as the state sees tax dollars accruing for its legalized neighbors.

Nevada Production Facility

MedMen also recently opened a state-of-the-art cultivation and production facility in the Reno, Nevada area. Named Mustang, the 45,000-square-foot factory houses best-in-class greenhouse, extraction, tissue culture, edibles, and laboratory facilities. At peak production, MedMen Mustang will produce about 10,000 pounds of premium cannabis per year, not to mention extracts, edibles, and related products.

With a North Las Vegas dispensary in place and more locations planned in the Las Vegas area, MedMen is tackling the Nevada market with the same gusto it applied in California and New York. The state reported about $200 million in sales in the first six months of full retail operations, and is limiting the number of retail licenses issued to avoid oversaturation of the market.

This returns us to the theme of regulated markets and population centers. In states like Oregon and Colorado there is nearly an unlimited number of licensed retail operators. Establishing a vertically integrated operation in a regulated market like Nevada, and focusing the retail locations in Las Vegas, gives MedMen a powerful position and competitive advantage over less established and more fragmented companies.

Interested parties should keep an eye on MedMen developments as the company executes on its strategic plan to mainstream marijuana. It appears those plans have a solid and fertile foundation.

Please follow the link to read the full article and see the interview: http://www.cannabisfn.com/medmen-takes-manhattan-plus-exclusive-ceo-video-interview/

About CFN Media

CFN Media (CannabisFN) is the leading agency and financial media network dedicated to the global cannabis industry, helps companies operating in the space attract investors, capital, and publicity. Since 2013, private and public cannabis companies in the US and Canada have relied on CFN Media to grow and succeed.

Learn how to become a CFN Media client company, brand or entrepreneur: http://www.cannabisfn.com/featuredcompany

Download the CFN Media iOS mobile app to access the world of cannabis from the palm of your hand: https://itunes.apple.com/us/app/cannabisfn/id988009247?ls=1&mt=8

Or visit our homepage and enter your mobile number under the Apple App Store logo to receive a download link text on your iPhone: http://www.cannabisfn.com

Disclaimer

CannabisFN.com is not an independent financial investment advisor or broker-dealer. You should always consult with your own independent legal, tax, and/or investment professionals before making any investment decisions. The information provided on http://www.cannabisfn.com (the ‘Site’) is either original financial news or paid advertisements drafted by our in-house team or provided by an affiliate. CannabisFN.com, a financial news media and marketing firm enters into media buys or service agreements with the companies that are the subject of the articles posted on the Site or other editorials for advertising such companies.  We are not an independent news media provider. We make no warranty or representation about the information including its completeness, accuracy, truthfulness or reliability and we disclaim, expressly and implicitly, all warranties of any kind, including whether the Information is complete, accurate, truthful, or reliable. As such, your use of the information is at your own risk. Nor do we undertake any obligation to update the items posted. CannabisFN.com received compensation for producing and presenting high quality and sophisticated content on CannabisFN.com along with financial and corporate news.  

The above article is sponsored content. Emerging Growth LLC, which owns CannabisFN.com and CFN Media, has been hired to create awareness. Please follow the link below to view our full disclosure outlining our compensation: http://www.cannabisfn.com/legal-disclaimer/


CONTACT: CFN Media Frank Lane 206-369-7050 flane@cannabisfn.com
Categories: State

Cannabis Company Kaya Holdings, Inc (OTCQB:KAYS) Management Joins Oregon Committee in Exploring Ways to Implement Cannabis-Opioid Relief Program

30 April 2018 - 11:46am

PORTLAND, Ore., April 30, 2018 (GLOBE NEWSWIRE) -- Kaya Holdings, Inc. (OTCQB:KAYS) is pleased to announce that it has joined a committee organized by Oregon State Agency officials which includes opioids crisis experts, academics, licensed marijuana industry experts and leading industry participants to explore ways to implement a Cannabis-Opioid Relief Program in Oregon. KAYS, which is participating under the Kaya Cares banner announced last November, is pleased to be part of the Oregon based program that, if successfully implemented, could be a national model for alleviating the opioids crisis.

At a recent meeting organized by state agency officials, KAYS company executives presented a position paper, and participated in discussions on the virtue of such a program, the challenges and barriers, and possible paths for implementation. The meeting was highlighted by expert opinions on research protocol, cannabis distribution and guidelines for participant eligibility.

“We are extremely grateful to have been invited to participate in this dialogue and are proud of the role we played in assisting in getting the discussion started,” stated Craig Frank, CEO of Kaya Holdings. “We remain committed to assisting in developing and launching this program so that people can consider replacing their dangerous opioid medications with equally effective cannabis. While we are excited to brand the program in our image for our stores, we very much welcome other cannabis retailers to join us under their own banner and to be part of a much larger initiative.”

“Any meaningful solution utilizing cannabis as a solution to the opioids crisis has to address a number of complicated economic and legal issues,” commented Kaya Holdings Senior Advisor W. David Jones. “The Federal prohibition on cannabis has stifled clinical trials for cannabis-based treatment programs, limiting the amount of usable data for the medical and scientific community, and preventing viable cannabis based opioid alternatives to be developed. We see a solution emerging that upon approval could deploy state licensed marijuana dispensaries (like the four Kaya Shacks™ that KAYS currently operates in Oregon) with appropriate oversight, for the quick start of a program which could yield lawful, legal data for the scientific and medical community and contribute to a near term solution to the crisis that kills approximately 50,000 each year in the United States.”

The Kaya Cares program has received tremendous public support, which the Company appreciates and hopes continues to drive a conversation on the use of cannabis as a safe and effective opioid substitute. An example of the public support received is:

https://m.facebook.com/story.php?story_fbid=1535010739914719&id=899640933451706

About Kaya Holdings, Inc. (www.kayaholdings.com)

KAYS (OTCQB:KAYS), through subsidiaries, produces, distributes or sells legal premium medical and recreational cannabis products, including flower, concentrates and oils, and cannabis-infused foods.

In 2014, KAYS, became the first publicly traded company to own and operate a Medical Marijuana Dispensary. KAYS presently operates four Kaya Shack™ OLCC licensed marijuana retail stores to service the legal medical and recreational marijuana market in Oregon (www.kayashack.com) Additionally, KAYS recently acquired a 26 acre parcel which it has targeted for development of the Kaya Farms™ Medical and Recreational Marijuana Grow and Manufacturing Complex.

IMPORTANT DISCLOSURE: KAYS is planning execution of its stated business objectives in accordance with current understanding of State and Local Laws and Federal Enforcement Policies and Priorities as it relates to Marijuana (as outlined in the Justice Department's US Attorney General Jeff Sessions Memo dated January 4, 2018, and subsequent commentary from US Attorney for the District of Oregon Billy Williams), and plan to proceed cautiously with respect to legal and compliance issues. Potential investors and shareholders are cautioned that KAYS and MJAI will obtain advice of counsel prior to actualizing any portion of their business plan (including but not limited to license applications for the cultivation, distribution or sale of marijuana products, engaging in said activities or acquiring existing Cannabis production/sales operations). Advice of counsel with regard to specific activities of KAYS and MJAI, Federal, State or Local legal action or changes in Federal Government Policy and/or State and Local Laws may adversely affect business operations and shareholder value.

Forward Looking Statements

This press release includes statements that may constitute "forward-looking" statements, usually containing the words "believe," "estimate," "project," "expect" or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, acceptance of the Company's current and future products and services in the marketplace, the ability of the Company to develop effective new products and receive regulatory approvals of such products, competitive factors, dependence upon third-party vendors, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.

For more information contact Investor Relations: 561-210-7664

Categories: State

Nutritional High Receives Certificate of Occupancy for Its Oregon Manufacturing Facility

30 April 2018 - 11:30am

TORONTO, April 30, 2018 (GLOBE NEWSWIRE) -- Nutritional High International Inc. (the “Company” or “Nutritional High”) (CSE:EAT) (OTCQB:SPLIF) (FRANKFURT:2NU) is pleased to announce it has received a Certificate of Occupancy from Deschutes County based on the successful inspection of its extraction facility in La Pine, Oregon (“Oregon Facility”), bringing the Company closer to receiving its recreational processing license ("License") in Oregon. The Company previously announced the acquisition of the Oregon facility in March of 2017 and provided a progress update in February of 2018 (see press releases dated March 27, 2017 and February 15, 2018, respectively).

The receipt of the Certificate of Occupancy marks the completion of the local permitting process and paves the way for state-level inspections by the Oregon Department of Agriculture and Oregon Liquor Control Commission ("OLCC"). Upon successful completion of the state-level inspections, the Company will be awarded the recreational License and commence operations in the state.

Jim Frazier, CEO of Nutritional High, commented, “We are pleased to be moving forward with the licensing process in our Oregon facility and look forward to commencing operations there in the near future. Oregon represents a key strategic market for us and we look forward to rolling out our product offerings and adding another state to our business ecosystem.”

About Nutritional High International Inc.

Nutritional High is focused on developing, manufacturing and distributing premium and consistently dosed products in the cannabis-infused products industry, including edibles and oil extracts for nutritional, medical and adult recreational use. The Company works exclusively through licensed facilities in jurisdictions where such activity is permitted and regulated by state law. 

For updates on the Company’s activities and highlights of the Company’s press releases and other media coverage, please follow Nutritional High on Facebook, Twitter, Instagram and Google+ or visit www.nutritionalhigh.com.

For further information, please contact:

David Posner
Chairman of the Board
Nutritional High International Inc.
647-985-6727
Email: dposner@nutritionalhigh.com  

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR OTC MARKETS GROUP INC., NOR THEIR REGULATIONS SERVICES PROVIDERS HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Risks that may have an impact on the ability for these events to be achieved include completion of due diligence, negotiation of definitive agreements and receipt of applicable approvals.  Although such statements are based on management’s reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances.

The Company’s securities have not been registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), or applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or “U.S. Persons”, as such term is defined in Regulation S under the U.S. Securities Act, absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful.

Additionally, there are known and unknown risk factors which could cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law. Some of the risks and other factors that could cause actual results to differ materially from those expressed in forward-looking information expressed in this press release include, but are not limited to: obtaining and maintaining regulatory approvals including acquiring and renewing U.S. state, local or other licenses, the uncertainty of existing protection from U.S. federal or other prosecution, regulatory or political change such as changes in applicable laws and regulations, including U.S. state-law legalization, market and general economic conditions of the cannabis sector or otherwise.

Categories: State

Sales Start at Cypress, New Neighborhood within The Preserve, a 156-Acre Master Planned Community in Carlsbad, Calif.

30 April 2018 - 11:30am

Amenity-Rich Neighborhood Offering 56 New Homes and Abundant Open Space

CARLSBAD, Calif., April 30, 2018 (GLOBE NEWSWIRE) -- Cornerstone Communities and Presidio Residential Capital recently announced the opening of Cypress, a new community offering 56 homes within The Preserve, a 156-acre master planned community with 636 units next to the Buena Vista Creek Ecological Reserve.

“These beautiful homes will offer everything a growing family needs in a spectacular setting with unrivaled access to trails, parks and open space,” said Michael Sabourin, president and COO of Cornerstone Communities. “We believe families will love taking in the gorgeous views of the Buena Vista Valley and Ecological Reserve from the generous rooftop terraces featured on each and every home at Cypress.”

Cypress offers 56 two- and three-story single-family detached homes as large as 2,521 square feet with up to four bedrooms and three-and-a-half baths, attached two-car garages, fenced yards and optional master bedroom balconies. All homes will feature rooftop terraces on the third level, and the three-story homes offer multiple room configurations on the top floor. The homes are offered in Coastal Tuscan, Santa Barbara and California Craftsman styles.

The Preserve includes recreational facilities such as a fitness center with free weights and state-of-the-art cardio and strength equipment, a beach-entry pool, spa, parks, playgrounds, barbecue area, outdoor fireplace, multiple seating areas and a ping pong table. More than half of the community’s 156 acres are dedicated to abundant open space that blends seamlessly with the adjacent Buena Vista Creek Ecological Reserve.

In addition to Cypress, Presidio and Cornerstone are developing three other neighborhoods within The Preserve, all showcasing distinctly unique product types. Agave has 88 two-story townhomes; Blue Sage has 102 two-story triplex homes; and Acacia is offering 48 two-story paired homes.

The Preserve is being built in Buena Vista Creek Valley in northeast Carlsbad, East of El Camino Real and south of Route 78. The coastal Buena Vista Lagoon is less than two miles away.

These projects are a joint venture partnership with Presidio Residential Capital, a San Diego-based real estate investment company.

About Cornerstone Communities
The management team at Cornerstone Communities is comprised of a seasoned group of development and building professionals possessing over 150 years of combined experience in the homebuilding field having developed, mapped, and/or constructed over 15,000 homes in over 60 developments throughout California and Nevada. Professional Builder magazine heralded the group as one of the nation's Building Giants. Cornerstone has been consistently ranked as one of San Diego's top privately held residential homebuilders by the San Diego Business Journal and was recently recognized as one of the Top 500 Privately-Held Businesses in the U.S. by DiversityBusiness.com.www.cornerstonecommunities.com

About Presidio Residential Capital
Presidio Residential Capital is a real estate investment company focused on the residential housing sector. Headquartered in San Diego, California, the firm provides capital in the form of joint ventures for the entitlement, development and build-out of for-sale residential projects throughout the Western United States. Presidio has infused more than $1 billion into the economy to capitalize the housing industry. The firm’s goal is to invest in excess of $150 million in capital for home-building projects in the Western United States in the next 12 months. It currently has investments in Arizona, California, Nevada, Colorado and Washington with current committed capital of $800 million focused on 100+ projects. The firm is affiliated with a privately held registered investment advisor specializing in alternative investment strategies who has a long history of investing in the home-building sector. Current assets under management total more than $2.5 billion. Online and social media: www.presidioresidential.com, Facebook, Twitter and LinkedIn.

Media Contacts: Anton Communications
Vanessa Showalter  vshowalter@antonpr.com
Genevieve Anton  ganton@antonpr.com

Categories: State

Nutritional High Announces Colorado Property Financing Extension

30 April 2018 - 9:54am

TORONTO, April 30, 2018 (GLOBE NEWSWIRE) -- Nutritional High International Inc. (the “Company” or “Nutritional High”) (CSE:EAT) (OTCQB:SPLIF) (FRANKFURT:2NU) is pleased to announce that it has secured an extension of the US$800,000 secured note of its Pueblo, Colorado property (the “Extension”) with Veterans Capital Fund, LLC (the “Lender”). The terms of the Extension are as follows:

  • the Lender has agreed to extend the term an additional 12 months to April 18, 2019, with an option to extend for a further six months, subject to certain conditions;
  • the Company will pay the Lender a one-time renewal fee of US$16,000;
  • subject to regulatory approval, the expiry of the previously issued 3,333,334 warrants of the Company exercisable at C$0.06 per share will be extended to October 18, 2019, and the expiry of the previously issued 1,000,000 warrants exercisable at C$0.15 per share will be extended to October 18, 2019; and
  • the Company will issue 750,000 warrants at an exercise price of C$0.70 per share, expiring on October 18, 2019.

Jim Frazier, CEO of Nutritional High, commented, “We are pleased that Veterans Capital has agreed to extend the secured note and look forward to continuing to execute on the roll out of our strategic plan in Colorado and our other targeted markets. Having access to this capital allows us the flexibility to pursue opportunities that can generate maximum value for our shareholders.”

About Nutritional High International Inc.

Nutritional High is focused on developing, manufacturing and distributing premium and consistently dosed products in the cannabis-infused products industry, including edibles and oil extracts for nutritional, medical and adult recreational use. The Company works exclusively through licensed facilities in jurisdictions where such activity is permitted and regulated by state law. 

For updates on the Company's activities and highlights of the Company's press releases and other media coverage, please follow Nutritional High on Facebook, Twitter, Instagram and Google+ or visit www.nutritionalhigh.com.

For further information, please contact:

David Posner
Chairman of the Board
Nutritional High International Inc.
647-985-6727
Email: dposner@nutritionalhigh.com  

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR OTC MARKETS GROUP INC., NOR THEIR REGULATIONS SERVICES PROVIDERS HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. The statements relate to the completing the proposed transaction, the expansion of the Green Therapeutics facility and the ability to increase supply of product.  Risks that may have an impact on the ability for these events to be achieved include completion of due diligence, negotiation of definitive agreements and receipt of applicable approvals.  Although such statements are based on management's reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances.

The Company's securities have not been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or "U.S. Persons", as such term is defined in Regulation S under the U.S. Securities Act, absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful.

Additionally, there are known and unknown risk factors which could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.

Categories: State

EnWave Signs Equipment Purchase Agreement with Tilray to Deliver a Second 60kW Radiant Energy Vacuum Machine and EnWave Extends the Exclusive, Sub-Licenseable, Royalty-Bearing Commercial License with Tilray to Include Portugal

30 April 2018 - 8:00am

VANCOUVER, British Columbia, April 30, 2018 (GLOBE NEWSWIRE) -- EnWave Corporation (TSX-V:ENW) (FSE:E4U) (“EnWave”, or the "Company") reports today that it has signed an Equipment Purchase Agreement (the “Purchase Agreement”) with Tilray to deliver a 60kW commercial-scale Radiant Energy Vacuum (“REV™”) machine to be installed in Portugal, and that Tilray has exercised its option to expand the territory of its exclusive, sub-licenseable, royalty-bearing commercial license (the “License”) for the processing of medical cannabis to include the country of Portugal.

The Purchase Agreement and expanded License extends the Company’s proprietary REV™ dehydration technology for drying and decontaminating cannabis beyond Canada for the first time. EnWave is pursuing  additional global opportunities to serve the rapidly growing medical and recreational cannabis market.

Under the terms of the expanded License, Tilray will pay royalties based on the amount of cannabis processed using the REV™ equipment. The sub-license rights granted to Tilray under the expanded License allow for the sub-licensing of the technology to additional producers in Portugal, with sub-license royalties to be shared between EnWave and Tilray on an undisclosed basis. All other terms of the License are confidential.

About Tilray®
Tilray is a global pioneer in the research, cultivation, processing and distribution of medical cannabis and cannabinoids. Tilray was the first federally licensed cannabis company to be EU GMP certified to produce medical cannabis. The company currently serves tens of thousands of patients, physicians, pharmacies, governments, hospitals, and researchers in ten countries spanning five continents through its affiliated entities in Australia and New Zealand (Tilray Australia New Zealand Pty Ltd), Canada (Tilray Canada Ltd), and Germany (Tilray Deutschland GmbH).  

About EnWave
EnWave Corporation, a Vancouver-based advanced technology company, has developed Radiant Energy Vacuum (“REV™”) – an innovative, proprietary method for the precise dehydration of organic materials. EnWave has further developed patent-pending methods for uniformly drying and decontaminating cannabis through the use of REV™ technology, shortening the time from harvest to marketable cannabis products.
 
REV™ technology’s commercial viability has been demonstrated and is growing rapidly across several market verticals in the food, and pharmaceutical sectors including legal cannabis. EnWave’s strategy is to sign royalty-bearing commercial licenses with industry leaders in multiple verticals for the use of REV™ technology. The company has signed over twenty royalty-bearing licenses to date, opening up nine distinct market sectors for commercialization of new and innovative products. In addition to these licenses, EnWave has formed a Limited Liability Company, NutraDried Food Company LLC, to develop, manufacture, market and sell all-natural cheese snack products in the United States under the Moon Cheese® brand.

EnWave has introduced REV™ as the new dehydration standard in the food and biological material sectors: faster and cheaper than freeze drying, with better end product quality than air drying or spray drying. EnWave currently has three commercial REV™ platforms:

  1. nutraREV® which is used in the food industry to dry food products quickly and at low-cost, while maintaining high levels of nutrition, taste, texture and colour;

  2. powderREV® which is used for the bulk dehydration of food cultures, probiotics and fine biochemicals such as enzymes below the freezing point, and

  3. quantaREV® which is used for continuous, high-volume low-temperature drying.

An additional platform, freezeREV®, is being developed as a new method to stabilize and dehydrate biopharmaceuticals such as vaccines and antibodies. More information about EnWave is available at www.enwave.net.

EnWave Corporation
Dr. Tim Durance
President & CEO

For further information:

John Budreski, Executive Chairman at +1 (416) 930-0914
E-mail: jbudreski@enwave.net

Brent Charleton, CFA, Senior Vice President, Sales and Business Development at +1 (778) 378-9616
E-mail: bcharleton@enwave.net    

Deborah Honig, Corporate Development, Adelaide Capital Markets at +1 (647) 203-8793
E-mail: dhonig@enwave.net 

Forward-Looking Information: This press release may contain forward-looking information based on management's expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the Company's strategy for growth, product development and market position are forward-looking statements. These statements are not a guarantee of future performance and involve a number of risks, uncertainties and assumptions, including those relating to the expectation of commercially successful integration of the EnWave technology to the dehydration of cannabis, the outcome of EnWave’s patent application, the ability of the Company to expand into the cannabis industry and successfully market its technology and patents, that the Company will be able to meet all applicable legal regulatory requirements in order to commercially exploit its patent, if and when its application is approved, or otherwise market its technology to cannabis industry participants, and other risks applicable to the Company as disclosed in its public filings. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. EnWave does not undertake to update its forward-looking information unless required by applicable securities law. Accordingly, readers should not place undue reliance on forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Categories: State

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